Cahoot/Alliance &Leicester/Morgan Stanley not accepting my offer of minimum payments

goldy

Cahoot/Alliance &Leicester/Morgan Stanley not accepting my offer of minimum payments :

Despite sending them my budget plan done for me by CCCS, they seem intent on setting the collection acencies on me.I had got into the situation of using credit to pay off the minimum payments and everything was snowballing out of control so I contacted CCCS . (usual things caused it - illness/losing job/marriage breakup/living on benefits)They told me either to offer the £1 a month as I had £8 left over every month after living expenses-childcare alone costs me a fortune....or to go bankrupt. I thought I'd go down the minimum payment route first while I considered my options.

Will I have to go to county court and how quickly will this happen?

Feeling really stressed as I'm getting loads of letters every day from creditors and that together with trying to keep my job and juggle the kids on my own is getting on top of me.I fought really hard to get off benefits and now I wonder if I'll end up back in that situation because of all the pressure.Just feel like I'm getting my life together again too .


Thanks

CLAPTON

i'm afraid is fairly normal for creditors to write/phone and generally harass at these early stages and there is very little you can really do about it.
if £1 per creditor is all you can afford then neatly file the letters and if they phone just refuse to discuss anything on the phone and say they must write.

Again it fairly usual for them to use DCAs (debt collection agencies) or sell the debts on...again theres nothing you can do about it. If you really have very little money there is no real gain for them to take you to court although they will continually threathen to do so, because they know the judge will only order you to continue paying the £1.

without seeing your full SOA i can't really see whether bankruptcy is a sensible alternative....do you expect your finances to improve so you can start paying the debts back?

goldy

Hi Clapton,

Yes, guess you're right about the response I am getting. Other companies have just accepted my offer though so I was hoping, probably rather naively, that these companies would do the same.

To be honest, my overheads are so big - quite high rent because I moved down to London for the job, childcare costs and travel costs plus living on one salary with 2 children to support on my own-my finances probably won't get much better. There is a serious possibility of doing some extra work on top of my full time job but as my rent, childcare and travel add up to most of my salary, I might need to do that just to keep afloat anyway as , obviously, I can't rely on credit anymore and even if I could, I wouldn't want to.

Donedoingdebt

Don't worry too much about your accounts being passed onto DCAs. This seems to be almost normal procedure for a lot of companies. Most of the time, after a lot of bluster, these DCAs are more willing to accept lower payments than the original finance companies. Keep in close contact with CCCS as they've seen all this thousands of times before & know what they're doing.

goldy

Thanks for your reply,ddd. I suppose I just want some reassurance that I can get through this when part of me feels like running away - not sure where too though......I just have moments of panic!

Donedoingdebt

goldy wrote:

Thanks for your reply,ddd. I suppose I just want some reassurance that I can get through this when part of me feels like running away - not sure where too though......I just have moments of panic!

We've all been there!

goldy

Thanks...I feel less panicky now.