Gas and Elec Help with repayments

wthtodo

Hi all,

I am trying to put together a debt management plan, part of this involves being able to pay mortgage arrears.

i have a huge amount of arrears on gas and electric - about 600 on each - but i need to get british gas to lower my payments to the least possible in order to pay their arrears and free the rest up for the mortgage arrears

any ideas on best way to approach them

many thanks

HappyMJ

wthtodo wrote: »

Hi all,

I am trying to put together a debt management plan, part of this involves being able to pay mortgage arrears.

i have a huge amount of arrears on gas and electric - about 600 on each - but i need to get british gas to lower my payments to the least possible in order to pay their arrears and free the rest up for the mortgage arrears

any ideas on best way to approach them

many thanks

By submitting a comprehensive statement of affairs (budget) offering an equal percentage of your disposable income to all of your creditors towards your outstanding debt.

Have you asked your mortgage provider to capitalize the arrears? If you have enough equity they may permit that.

SwanJon

Might be worth looking to see if the British Gas Energy Trust can do anything to help clear the energy debts
www.charisgrants.com

macman

Or voluntarily switch to PPM's.

wthtodo

Hi there

I contacted british as who said the best they could do was to reduce the monthly payment by 10%

which does nothing to help with paying the 2nd mortgage

have heard a ppm can end up costing more than not having one, plus the amount we use for heating, would never have the money, i have an ill mother in law who requires the heating on all the time, as she suffers from - well everything really. She wears coats etc in the summer.

macman

A PPM costs the same as the supplier's Standard tariff.
Unfortunately, if you are unable to agree a realistic repayment schedule with BG, you may not have the choice-they will eventually enforce a PPM and the costs will be added to the existing debt.