Credit card debts

Looking4silverlining

Hi gang. Should I answer the phone to the banks when they call? Tell them what, I can't pay anything? Im guessing I must not make any kind of arrangement to pay yet but should I tell them that I intend to do a DMP?

enthusiasticsaver

I would just wait for them to default you.  I don't see there is any reason to tell them your plans at this stage.  Are you saving for emergencies? 

Looking4silverlining

enthusiasticsaver said:

I would just wait for them to default you.  I don't see there is any reason to tell them your plans at this stage.  Are you saving for emergencies? 

Thanks for your reply. It’s just that they keep calling (obviously) and I didn’t know if should tell them that I can’t pay. Apparently they might even knock it off completely if I explain that I’m very unlikely to be able to pay anything at all for years. 

No I’m not managing to save anything at all. I’m playing catch-up on rent, clothes, vehicle repairs, electric bills etc. Hopefully in a few months I’ll be on top of things again and start saving a little. Hopefully. 

sourcrates

Its the auto dialler that calls you, all computer generated, if you are unlikely to be able to afford payments, put it all in writing and tell them so, ask for write offs due to your circumstances, let a human make a decision.

At the very least they will put accounts on hold, and this can continue for an indefinite period.

Looking4silverlining

sourcrates said:

Its the auto dialler that calls you, all computer generated, if you are unlikely to be able to afford payments, put it all in writing and tell them so, ask for write offs due to your circumstances, let a human make a decision.

At the very least they will put accounts on hold, and this can continue for an indefinite period.

Thanks. 

If they put accounts on hold does that mean that they won’t default me?

sourcrates

All action is held for a period of whatever they specify, 30 days/3 months, whatever it may be.

Whether an account defaults or not, should not be your first concern, you should approach this from the point of view that non payment of an account for any period of time will result in the account defaulting, basically it should be expected.

Looking4silverlining

sourcrates said:

All action is held for a period of whatever they specify, 30 days/3 months, whatever it may be.

Whether an account defaults or not, should not be your first concern, you should approach this from the point of view that non payment of an account for any period of time will result in the account defaulting, basically it should be expected.

Would there be anyone that could help me write such a letter? Do you know if there might be a template that I could use, maybe I could start a new thread asking if someone could help me, what do you think?

sourcrates

Looking4silverlining said:

sourcrates said:

All action is held for a period of whatever they specify, 30 days/3 months, whatever it may be.

Whether an account defaults or not, should not be your first concern, you should approach this from the point of view that non payment of an account for any period of time will result in the account defaulting, basically it should be expected.

Would there be anyone that could help me write such a letter? Do you know if there might be a template that I could use, maybe I could start a new thread asking if someone could help me, what do you think?

Sorry, a letter saying what ?

Looking4silverlining

sourcrates said:

Looking4silverlining said:

sourcrates said:

All action is held for a period of whatever they specify, 30 days/3 months, whatever it may be.

Whether an account defaults or not, should not be your first concern, you should approach this from the point of view that non payment of an account for any period of time will result in the account defaulting, basically it should be expected.

Would there be anyone that could help me write such a letter? Do you know if there might be a template that I could use, maybe I could start a new thread asking if someone could help me, what do you think?

Sorry, a letter saying what ?

Sorry. 
You said

“if you are unlikely to be able to afford payments, put it all in writing and tell them so, ask for write offs due to your circumstances, let a human make a decision”
Obviously only I know the full details but I was hoping that there may be someone who could help me with a bit of wording.

sourcrates

Two possible choices below, you can combine different paragraphs from one to the other, for example, hold action on my account, as I can`t afford to make any offer of payment to my debts currently.

Edit to your own circumstances -

Sample Letter - Hold action sample letter | National Debtline | National Debtline

Sample Letter - National Debtline | Sample letters | Reconsider my token offer | National Debtline