Robinson Way payment plan

desperate_times

I am planning to set up a payment plan with Robinson Way regarding an approx £6000 credit card debt. I am wondering what monthly amount might be acceptable given the size of the debt? Is say £100/month going to be acceptable? They are threatening to pass to Howard Cohen solicitors to commence legal proceedings. Also what % of disposable income are they likely to accept. Let's say for example I have 500 disposable income and offer 100 are they likely to say no we want 300? Anybody with any experience of how they (or similar companies) operate?

Willing2Learn

desperate_times wrote: »

I am wondering what monthly amount might be acceptable given the size of the debt? Is say £100/month going to be acceptable?

You need to do an SOA for yourself. Allocate yourself reasonable amounts to cover every possible expense category. Whatever is left over should be affordable...as long as you filled in your SOA correctly...

sourcrates

Hi,


The question should be re-phrased to, how much from your current budget can you afford to pay them ?


It matters not a jot how much they would like to have, the only number that counts is the number you can comfortably afford to pay from your disposable income.


Do a proper budget, include everything you spend money on, whats left is what they get.

desperate_times

Willing2Learn wrote: »

You need to do an SOA for yourself. Allocate yourself reasonable amounts to cover every possible expense category. Whatever is left over should be affordable...as long as you filled in your SOA correctly...

My question is not what is affordable but what is acceptable especially with a view to avoid going to court. If for example I have 500 left over technically 400 is affordable but would much rather pay 100 - i.e. after all the calculations wonder what % companies like this expect you to give them? 100%? 50%?

desperate_times

sourcrates wrote: »

Hi,


The question should be re-phrased to, how much from your current budget can you afford to pay them ?


It matters not a jot how much they would like to have, the only number that counts is the number you can comfortably afford to pay from your disposable income.


Do a proper budget, include everything you spend money on, whats left is what they get.

Yes but what % of disposable income would they expect to get? (especially with a view to avoid going to next stage) 100% 50%?

Willing2Learn

desperate_times wrote: »

My question is not what is affordable but what is acceptable especially with a view to avoid going to court.

The acceptable amount is the affordable amount. As long as you have budgeted properly (with a detailed SOA) then affordable = acceptable.

There is no definition of (financially) acceptable. Nothing is set in stone. Affordability is the key....

desperate_times

Willing2Learn wrote: »

The acceptable amount is the affordable amount. As long as you have budgeted properly (with a detailed SOA) then affordable = acceptable.

Glad you find that amusing but going round in circles doesn't really help. Expenditures are not fixed in stone. At one extreme I could budget so can only afford 10 a month but then I suspect quite likely would go to next stage with solicitors/court etc. Alternatively could squeeze everything show disposable income of 400 and offer 200 which I expect they would accept. I was hoping somebody might have some actual experience as to how this company or others approach this.

nissan_st

you can do it online on the customer portal . there is an option to pick your own offered payment amount on the basis you have worked it out yourself what you can afford.
it should just accept that amount on the automated system.
I think that may be the answer you are after.
nothing to loose if it doesn't.

Willing2Learn

Willing2Learn wrote: »

The acceptable amount is the affordable amount. As long as you have budgeted properly (with a detailed SOA) then affordable = acceptable.

desperate_times wrote: »

Glad you find that amusing but going round in circles doesn't really help. Expenditures are not fixed in stone. At one extreme I could budget so can only afford 10 a month but then I suspect quite likely would go to next stage with solicitors/court etc. Alternatively could squeeze everything show disposable income of 400 and offer 200 which I expect they would accept. I was hoping somebody might have some actual experience as to how this company or others approach this.

This is from actual experience. I was in debt and needed to arrange a payment plan for all my creditors. I calculated the acceptable amount using the method I have previously described.

micky2phones

desperate_times wrote: »

Glad you find that amusing but going round in circles doesn't really help. Expenditures are not fixed in stone. At one extreme I could budget so can only afford 10 a month but then I suspect quite likely would go to next stage with solicitors/court etc. Alternatively could squeeze everything show disposable income of 400 and offer 200 which I expect they would accept. I was hoping somebody might have some actual experience as to how this company or others approach this.

Hi, if your SOA is right then thats all you can pay they wont take it to court as the Judge will see you cant pay any more

So wait of their time and the courts.

They will review it every 3 or 6 months to see if your income has changed

desperate_times

So when your disposable income number came out from your budget how much of it did you offer to creditors? All of it?