Advice needed for my next step

doh_erty

I need some advice on my next step of paying my defaulted debts.

Current Account - default = £1026
Loan - Default = £3049

I would ideally like these to be payed as soon as I can.

Here are the options I can think of;

- Negotiate with the dca's dealing with my debt to pay off a fixed amount every month. (Maximum I can afford)

- Negotiate a fixed amount to pay every month (paying them a lesser amount and saving the extra money until I have enough to offer a Full and final settlement)

- Not contact them until I save enough for a full and final settlement say 50% (12-18 months)

If anyone has any ideas as to which I should use please advise.

If anyone can suggest any more then great.

doh_erty

buuummmmmpppppp

doh_erty

please help!!

topcat9

Hi,

Well I don't think I would go with trying to ignore them for 12-18 months. I suspect that in that time you'd at least get a lot of phone-calls and possibly court action (with a judge looking unfavourably on the fact that you've made no effort to reach an agreement)!

Negotiating would seem the sensible option. Your second suggestion of saving a little for full and final settlements seems a popular way to go on this forum though I haven't done it myself. I guess it depends though on what your creditors are willing to accept as a monthly payment!

leftinamess

Try the national debt helpline they are great.

Full and final settlements will be the best option and they do work. There are lots of templates available

Tixy

What is the situation with the DCAs at the moment? how long have they had the debts? when did you last pay towards them? are they currently chasing you? threatening further action?

How much realistically is the max you can afford each month towards the debts (in total)?