Been in contact with CCCS not sure what to do now??

prince_percy

Thanks for all the ideas guys, feeling more confident that i can do it now but i know it will be tough.

I am aware that i will get defaults if i pro-rata payments.

It did cross my mind to pay off one debit and have a surpluss at the expense of my other creditors but was not sure if it would have a negative affect. I am up to date with all payments so far and was hoping that may work in my favour when making offers.

Can someone explain how defaults work, i know they stay on your credit file for six years. Will creditors want to take me to court?

I also have a bit of equity in my house, not enough to cover the debts but can they try and secure any of my debits against it?

I'm going to go through old bank and credit card statements tonight to check budget. Have never really budgeted properlly hence getting into debt!! But over that last 4 months we have been really strcit to ensure we were not borrowing more and were paying back debts.

As i'm doing it myself is it still classed as a DMP

Thanks

InDeepDebt

You may not get defaults with a repayment plan of almost 2% of the balance.

We have one card with CITI – when negotiating a payment with them, they seem to have simply got the balance, divided it by 60 months – applied NO interest or charges and left it with us for the life of the balance.

I think that Barclaycard said that they would accept about 1.3% of the balance and they would be happy (we can’t afford that though).

Do not despair. Contact your creditors and advise that you are in financial difficulty – some may immediately offer you a reduced payment plan straight away without too many questions.

Jim