Reducing payments to catalogues

[fair_free_frugal]

Hi all,

 

I have 6 catalogue accounts in total.

 

My total payments on them are £289.00 per month.

 

I could make this payment fine when I was working, but I was made redundant just over a year ago

and have struggled for the past year.

 

I am getting to the point where I can't keep paying them.

 

A few months ago, I phoned the largest payment catalogue and asked to reduce my payments.

 

The lady I spoke to said if I made reduced payments on one, then all the accounts would be affected. So I struggled on.

 

I would ideally like to reduce the payments to £100 a month, but don't know what the first step is.

[hillards]

Don't phone, write. That way they can't wriggle out of anything they, or you, say.

 

They are not priority debts, if you cannot afford to pay then be prepared for them being a pain in the rear with their own debt collection process going into motion, threatening to do all sorts of nasty things if you don't pay. But, they can't force you to pay what you cannot afford.

 

Write to their head office, explain how you are struggling, explain how little you have to live on. TELL THEM, don't ask, that you will be paying a reduced amount. If you are on any benefits then £1 a month is the norm. Don't let them bully you. Come back here if they start being silly and making threats or demands.

 

Have a read through these forums, other people have been in the same situation. It's a self help site so a lot of it is down to you to find the information that will help you sort this out.

[renegadeimp]

http://www.consumeractiongroup.co.uk/forum/showthread.php?387346-Ask-Creditor-to-Accept-Pro-Rata-Payments

 

Make sure you have worked out a full I&E for yourself, and generate a budget summary for the creditors. This means you could be giving them less than you intended

 

https://www.nationaldebtline.org/EW/steps/step2/Pages/Step_2_11.aspx Fill it in and click budget summary on the left.

[dx100uk]

TELL [dont ask] them they are only going to get £xxPCM for xx mts

as a goodwill gesture

and as a reciprocal GOGW they must freeze int & refrain from levying PENALTY charges.

if they wont

drop them to £1PCM for life.

.

as an example>

.

I am currently in financial difficulties and not able to meet my normal monthly repayments.

to show my goodwill, i am going to pay £5 for 6 mts.

 

i will update you in 6mts time or before, should my situation change.

.

could you please as a reciprocal goodwill guesture,

.

refrain from levying any penalty charges & freeze the interest on my account.?

.

Should you fail to assist me during a period of financial difficulty, contrary to all the guidelines and codes

issued by the relevent bodies and authorities that govern you and the way you conduct yourselves.

.

i shall have no alternative but to reduce my offer to £1PCM for the rest of the life of the account,

.

.

as your actions would do nothing to help me.

.

i thank you for your time.

..

.

dx

.

then pay by your internet banking site

.

and get reclaiming

.

TAKE CONTROL

.

or

if you have sent the above and they refuse

then write back........

.

.

i'm sorry, but you have failed to assist me during a period of financial difficulty, against all the guidelines and codes

issued by the relevent bodies and authorities that govern you and the way you conduct yourselves.

i repeat again, the contents of my letter dated dd/mm/yyyy, for want of clarification:

to show my goodwill, i am going to pay £XX for XX mts

could you please as a reciprocal goodwill guesture, refraining from levying any penalty charges & freeze the interest on my account.

i will update you in 6mts time or before, should my situation chance.

should you fail to help by refraining from levying unlawful PENALTY charges & freeze my interest,

i shall have no alternative but to reduce my offer to £1PCM for the rest of the life of the account,

as your actions are doing nothing to help me.

This is contrary to the rules you should operate under.

disgruntled account holder

dx