refusal of payment offer ?

wisey2

Hi people

This is my first post so be gentle !:p anyway , ive written to my 3 main debt companies with my SOA and an offer of £50 per month each , ( i have about 200 left after everything else ) so far 2 have acepted but the last one , credit solutions ltd , have refused , saying their " client " wants minimum £250 per month ! obviously going by my SOA they know thats physically impossible, what now ? i paid the £50 anyway , which they still took ? they said something about charging it to my property, does that mean one morning i wake up and 3 nutters break my door down !!!
thanks in advance !

tealady

I think what they mean is a charge put on the property. this means if you sell the house they are paid out of the proceeds. I assume that means it is a secured loan but someone far more experienced will be able to explain. Keep paying the £50 and contact someone like the Citizens Advice for some debt advice. Also put your SOA on here and the wonderful people will look to see if there are any savings to be made anywhere.

LookingAhead

I am glad that 2 of your creditors accepted the £50.

I'm not surprised the other one (Credit Solutions - what a misnomer eh? :rotfl:) took the £50 anyway even if they said no to your offer as at least the are getting something from you.

I echo what tealady said - get some advice from the CAB ASAP.

In the meantime, again as tealady suggested, if you want to post a new thread with your SOA there will be lots of people willing to cast their eyes over it and point out where you could make savings that you might not have realised.

Check out the old style board as well for savings around the house (cleaning, recipes etc).

Good luck on your debt free journey.