Can I stall creditors for a few months? Until I sort dmp etc

57and

Hi,basically I'm newly self employed,cccs have said that 3 months worth of accounts are needed before they can fully asses my situation? Otherwise they will automatically recommend bankruptcy

So basically iv ran out of spare cash now to pay creditors after my main outgoings!

I'm expecting the first letters to arrive,probably today or by the end of the week anyway!

Is there a letter I can send to them telling them of my financial situation and I am hopping to sort something out? Offer them a token payment?

I am in the process of setting new bank accounts up as my debt is mainly all with barclays 10k non secured loan,£300 od,£400 cc

Had been just about managing for a while,I was working for an agency witch paid enough to cover everything but that's now ended so I decided o finally get on with my other business full time so at least in future I have a bit of security at least and am not going all over the place for work,weather or not you think it's the right decision,it's the one iv made

Cheers for any help!

National_Debtline

Hi 57

Why not ask CCCS? They should have some templates you can use.

Failing that, just draft your creditors a short note along the following lines:

"I have recently become self employed and am hoping to set up a Debt Management Plan via CCCS very soon. However in the meantime I have no spare money to offer you but I will assess my income over the next three months and will contact you with a fresh proposal of repayment as soon as this becomes possible.

(For now, please accept paymnts of £1 on a monthly basis as a gesture of goodwill.)

Please freeze interest and charges in the meantime so that I can start to reduce the amount I owe you."

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The bit in brackets is optional, but if you can manage a token offer it might just help the medicine go down that bit more smoothly.

Add more detail as you feel necessary.

Regards

NDL

57and

Yes I am going to speak to them as soon as I can this week,just been very busy with the business

Thanks for the rough template! Apricate it