Redundancy and how to reduce payments to creditors for 6 months

dazzaboy6

Hi,

I am about to be made redundant and i have large debts, i barley have £200 a month to live on.
I would like to reduce my payments short term so 6 months and then review my situation again, is it best to approach my creditors and ask if they will review my situation and offer token payments or get involved with a debt management company and paid a reduced monthly fee, im going to be redundant very soon and will my creditors as per normal at the end of july but its from August where i will need the help as my last day is 31 july.

Thanks

Darren

Takeaway_Addict

Hi Dazza

you'd be best to post this on debt free wannabe board rather than this one.

Kentish_Dave

Have you no chance of finding a new job before your notice redundancy payment runs out?

That’d normally cover a good few months, plenty of time to find something else before having to stop your payments.