I'm at rock bottom

I_was_a_fool

boo2905 wrote: »

Hi

I know this is not my thread but it's something I've always wondered - if SadGirl uses the CCCS to help her with her debts and she makes token payments of say £5 to each of the creditors - can she give them large amounts at times when she thinks she has the money spare or does she have to just keep giving them token payments until she can afford to go back to the minimum amount payments?

Sorry just always wondered.

S

The token amounts are just for the first month (or two), to reassure the creditors that you are dealing with the debt and havnt just run away. It buys you a bit of time to pay essential things, buy some food, get the dmp in place.

Meantime you do a review of your finances with CCCS. You & they put together a budget you can live on & whatever is left over goes to your (unsecured) creditors. Priority debts such as secured loans and mortgages go into the budget.

Most creditors will freeze interest and charges after a few months and you can really start to see your debts go down. If you have any spare cash outside of this you can either put it aside for emergencies or save it up and pay it to the dmp every now & then. You should not pay it to an individual creditor as they can restart interest charges, and other creditors can see it as preferential treatment.

Sharon

chevalier

boo2905 yes you can vary your payments, and anyway you progress is review every so often so can vary it then too
chev

SAFC73_2

Hi sadgirl,

All I can say is stick in there.

I thought that this time two yeara ago I was finished and facing BR. But somehow I told myslef that I shouldn't give in and things do change. Two years later on I'm still getting there, it's been a slow haul but I'm getting there.

Sending you lots of hugs