Hobbles12:Hi, So I've gotten myself into a fair bit of debt, and it's causing me massive amounts of stress. I'm trying to get it all sorted once and for all. I went over to the CCCS website, punched in my details, and it came up with a remedy. The problem is that despite going over the figures, I just don't realistically see how I can afford that much per month. It's basically asking my to pay £580 over 9 months, but I feel I can't afford this. I'd be much happier if it was something like £300. The problem is I have other things too, like a girlfriend who lives a few towns over I need to visit (Public transport). The amounts they ask you to spend on stuff I feel is unfeasible? Is there any way I can call them up and ask them if £300 is ok? My other option is to go with something like a DPP. The company I was looking at will charge 15%, but they'll allow me to pay a much more reasonable sum in my book. Any further advice? Much appreciated Cheers
Just going on the limited information you have provided and that it might be one of those days for me....
I am not sure if I am reading this right and I presume we are talking about an informal Debt Management Plan, but 9 x £580 = £5220 (are these figures right?)
If the above is correct and your total debt is £5220 then surely the level of payment mentioned via the CCCS (£580 pm) cannot be far off normal contractual payments or perhaps even higher I would think
At £300 per month on my calculations £5220 would be cleared in 17.4 months, still quite a short period in Debt Management plan terms.
I agree with Max about further advice and the fee chargers,and would also add that rumour has it that some Debt Management Companies may also take the first 2 or 3 months payments in costs for their 'administration fees' with creditors getting very little or nothing during that period.
Have you thought of dealing with the debts yourself or via an assisted self help method (couple of links below)
PS - always make sure you have had full advice and that you understand your options & implication before deciding on any debt remedy.