Are We Paying The Right Creditors First?

Legacy_user

After some advise as to whether or not we are doing the right thing, As I mentioned before we got £15k our debts amount to about £21K, what we are going to pay is

Car HP = £8K
Tax Credits Over payment = £2K
Housing Benefit Over Payment = £1K
MBNA Credit Card = £1.5K
Capital One = £1K


And the rest of the money was used to pay of small creditors, This leaves

BOI Credit Card = £1K
MBNA = £1K
Welcome Finance = £1.2K
Black Horse = £700
HFC = £300

What do you think? The above creditors will not accept a reduced final settlement and are happy to continue going through Payplan

davefcuk

Hi hirelandguy

Sounds like you got the big problem ones sorted (tax credits, car and housing)

I would just point out to watch for HFC and welcome finance these two are notoriously feindish at chasing even when repayments have been agreed and often sell the loan on with no information to a debt collection agency.

Just make sure that the credit card payments include enough to reduce the amount and not just the interest, or try getting the interest stopped.

Best of luck

System

davefcuk wrote: »

Hi hirelandguy

Sounds like you got the big problem ones sorted (tax credits, car and housing)

I would just point out to watch for HFC and welcome finance these two are notoriously feindish at chasing even when repayments have been agreed and often sell the loan on with no information to a debt collection agency.

Just make sure that the credit card payments include enough to reduce the amount and not just the interest, or try getting the interest stopped.

Best of luck

I wish Welcome would sell it on, They haven't after 5 years, They also have not produced a CCA yet

gartshore

no cca how long have you waited .

System

gartshore wrote: »

no cca how long have you waited .

Its about 3-4 weeks now