Contacting creditors

Spikeyjaycee

Hello there. A bit of advice please. I currently owe about £15k on 3 loans and 2 credit cards. My husband got made redundant in June and, up to then, I was managing fine with paying off my debts. Now though, with only his JSA and my salary, I am having trouble finding the money to pay everyone although I haven't defaulted on anything yet. What I've done is write to the 3 loan companies explaining the situation and the fact I haven't defaulted yet, but asking for their co-operation in allowing me to pay a token £1.00 a month instead of the usual monthly instalments, as a short term measure until my husband is employed again and I can pay full instalments again. I have told them to add the additonal costs to the end of the loan, thus extending the payment schedule. I also included a copy of my Financial Statement to illustrate the fact I have no disposable income. I haven't written to the cc companies as I am paying the minimum on them and we are living off them anyway! My husband was also in debt but he went bankrupt a few weeks ago, so he is in the clear.
Has anyone else been in this situation and have they been successful with their creditors? (Or am I beating my head against a brick wall hoping for cooperation from my creditors)
Thanks for listening.
Julie:eek:

annam0787

Hi,
I've had to contact creditors in the past to request reduced payments and from my experience, some will agree and some won't! American Express and HFC/Marbles caused me a lot of trouble, but other creditors were more agreeable.
Let us know what happens. I hope it works out.
Anna