Help with debts

Nickjw01

I have a few debts and one of them is now with a debt management company. I sent them a letter offering £295 as full and final settlement for a debt of £439. They phoned me and said they would not accept my offer as they want the entire amount. Is there anything I can do?
Also I have offered £650 for a debt of £1,100. This debt has an outstanding CCJ, if they accept this will the CCj be satisfied.
Any help would be much appreciated.

Thanks Nick

bobbie78

Hi

First off you need to have a read through SS's first timers thread and post an SOA showing what your income and outgoings are going to be. Have a look at Entitledto.co.uk to see what kind of benefits you might be able to claim.

OK once you have your SOA sorted out with your APR's you can have a play with the snowball calculator to work out which debts to pay off faster to reduce the amount of interest you are paying over all.

If you post your SOA on here people will come will a million ways to reduce your spending on all the boring things like utility's and insurance.

If you are really worried take all your paperwork for all the debts down to your local CAB office and explain the situation and they will help you negotiate with the creditors but this is when it starts messing up your credit rating. You can also look on the national debt website / give them a ring for advice too which is a lot easier once you get the paper work together they will help steer you in the right direction. Either way the SOA is the best place to start to see just where you are at.

After you've done all that you need to get a little note book and write down in it in great detail what every penny is spent on, every tenner from the cash machine, every mars bar. So then at the end of the month you can see if it tallys with what you think you are spending on things, and puts it in black and white you have a 100 quid starbucks habit (ok that's me but it is amazing what you find).

They will probably want a copy of your SOA to show that is all you can afford for repayments so it is worth going through everything now, and people might be able to find a way to make things easier for you so that it doesn't end up too bad. Good luck