Temporary token payments?

rubytuesday87

Hi all

Long time lurker but rare poster here! Will try to keep it short and sweet.

I am in a fair bit of debt and in the last few months, my hours at work have been lowered. I have just about held it together (thank god for Ebay) and kept paying everything, though my credit file will show a few late payments (especially my mobile phone contract!).

I am very pleased to be starting a new, better paid, full time job mid-September and finally should be able to start really knuckling down and overpaying my cards and loan. However, September itself is going to be extremely tight for various reasons. I know I won't be able to pay everything.

In the past, I stupidly used to go without food and walk miles to work to make sure I could pay my credit card minimum payment. Thank goodness this forum has shown me what is a priority and what isn't! Anyhow, I have decided that really, what I will have to do is just not pay my debt payments this coming month. I looked on the National Debtline website for template letters but they seem more aimed at people who want to go into a full on DMP. I just want to maybe make 1 or 2 months of token payments then go back to paying at least the minimum when I'm earning more money. Can anyone suggest a template letter for this?

Thanks!

NorthernLas

I would send either the hold off while I get advice or the token payment one from National Debtline, since you have been dealing with reduced income for some time.

If you find yourself with more money (your cicumstances do change and the job is OK) you could always write again and go back to paying more.

bottleofred

Hi Ruby,

You should do what Northernlass has suggested in the meantime.

Good luck in the new job

rubytuesday87

Thanks guys!

Took a look and I like the 'taking advice' letter. It seems to fit my circumstances best at the moment. DMP isn't totally ruled out but would rather try to get back on track once I'm earning more.

NorthernLas

Might be worth you doing CCCS on-line debt remedy, so you can see where you stand with your new budget.

in2deep_2

Hi, this is exactly what i have done, i contacted the CCCS initially via the website to fill in the forms and then by phone to fill in the little details and get advice.
Once i had all the paper work with the CCCS reference number i just made my own letter explaining the situation and also making it clear it was only temporary i then offered a token payment of £25 instead of the normal £300 (pay your offer anyway don't wait for a response and don't miss a payment not even a lower one)
The response was surprisingly very positive and im sure its because i went through the CCCS even though i made my own offer and dealt with the credit card companies directly.
Im now on an informal payment arrangement with 3 C/cards and they all stopped the interest and charges,its done on a 3 months renewal basis until my situation improves,as the arrangement is informal and temporary i still get the standard 'missed payment' letters and it does show on my file as a missed payment but so far it suits me and them and everyone for the moment is happy with the arrangement.
And i never have any phone calls from them badgering me for money.

So get some official back up from CCCS.
Write a letter stressing its temporary.
Tell the truth as they may ask for a bank statement (you don't have to give it but i did as i had nothing to hide)

Good luck.