Confused on SC Balances

Steve1994

Hi again,

I’m after a quick answer on my Step Change DMP if possible.

Looking through the list of creditors, there are 2 columns on the debt amount, for example:

Creditor Debt Type Balance Contractual Payment
Lowell Financial Credit Card £518 £16

What does this mean? At the bottom is says my outstanding balance is £5800 with a contractual balance of £3070. I’m confused…

Puzzcat

Creditor name Account number
Payment
this month
Payments
to date
Estimated
balance


Steve these are the headings I have on my statement so I can't work out what you are looking at?

Steve1994

Thanks for the reply – I’m in the early stages and going through all the paperwork that SC have sent me to sign and that what it shows on the Creditors List.

sourcrates

Steve1994 wrote: »

Hi again,

I’m after a quick answer on my Step Change DMP if possible.

Looking through the list of creditors, there are 2 columns on the debt amount, for example:

Creditor Debt Type Balance Contractual Payment
Lowell Financial Credit Card £518 £16

What does this mean? At the bottom is says my outstanding balance is £5800 with a contractual balance of £3070. I’m confused…

Pick up the phone and contact stepchange, they will tell you straight away.

Puzzcat

Just had a quick look at my original info from SC and it states just balance and contractural payment, I don't have a contractural balance.. sorry hopefully you have rung and asked..!! They did send me something incorrect originally stating I was only paying my creditors 1p each...!!! I wish...!!!


Hope its sorted.
Puzz.