Student Accomodation - Outstanding Balance

Velvet99

My student accommodation is £8517 a year, paid in 4 instalments. The final payment of £1837 was due on 15/4/19, however I was unable to make the full payment and there is still £1043 outstanding. The tenancy ends in September.

I have previously made partial payments, however in this case they have now sent me a letter stating that I must pay the full outstanding balance by 22/4/19 or they will add interest (above 4% of base rate of Lloyd’s Bank) and forward the file to solicitors and start court proceedings.

I am on a DMP and my guarantor is not in a position to pay, having recently been issued a CCJ. I have spent all of my wages on the rent and can pay no more, I also cannot ask friends for further help as they have already lent me money for the January instalment which I have not been able to pay back yet. What would you recommend that I do?

I am happy to do a payment plan, however I am unsure what to offer. I have made a token payment on my DMP for this month and advised that I may also have to do the same next month. I cannot cut back further on anything unfortunately. I could probably offer them £700 next payday which is unfortunately 3 weeks away.

Please note that I understand that this student accommodation is expensive, and I will be seeking somewhere much cheaper for the next student year, however my circumstances have drastically changed since I entered the contract. I am only seeking advice on what to say to the accommodation provider in hopes that they will accept a payment plan.

Housebuy12345

You need to negotiate a payment plan. The more you ignore them the worse it becomes.

£700 is more than adequate, as long as you pay.

What’s the company?