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Once arrangements are in place its happy days, you may get asked to review your budget every year, but that will more or less be it.
The only disruption to this might be if a creditor sells one or more of your debts, the new owner won`t be aware of any payment plan, so you may have to address that, likewise debts get assigned to collection agencies to manage on occasion, so some re-organisation of payments will be called for, but essentially once a plan is in place it should all become the norm.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter1 -
sourcrates said:Once arrangements are in place its happy days, you may get asked to review your budget every year, but that will more or less be it.
The only disruption to this might be if a creditor sells one or more of your debts, the new owner won`t be aware of any payment plan, so you may have to address that, likewise debts get assigned to collection agencies to manage on occasion, so some re-organisation of payments will be called for, but essentially once a plan is in place it should all become the normEmergency fund £10/£2000
Tesco Loan £100/£9651
MBNA Loan £150/£8008
Tesco CC £60/£4048
Barclays CC £60/£3885
MBNA CC £0/£2699
Overdraft £0/£2000
Mum Loan £500/£2750
Next account £20/£280
Halifac CC £20/£500
Total Debt 01/01/2025 - £32911/£33821
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