Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
I have lost my job and have been sinking fast into debt over the last few months. I thought I would have been swallowed up by the debt collectors by now but I think the advice on here has helped a long way with that.
While I am out of work I have been able to claim income based job seekers allowance but this is my only income and I have no savings left. Based on this I wrote to all by creditors with a payment plan that I found on this website which calculates what money is left out of my income and splits it fairly between my creditors. Most have responded just asking me to call them, and I have wrote and explained that I want to keep all contact via letter.
However GE Money which run 2 of my store cards have asked for £5 each as that is the lowest amount that they will take. This does appear to be very reasonable but I owe them much less money than my other credit cards and the spreadsheet proposal only assigned about £1 due to me having very little/no extra income to do anything with.
Should I thank GE Money and pay the £5 to each card and update the spreadsheet which will reduce the amount I would be able to pay the other creditors?
Or should I ask GE Money to re-consider my offer and take a token payment until I find employment?
While you are unemployed tell them all you will only be able to pay them £1 per month, this is assuming your income/Expenditure sheet shows that this is all you can do.
I suggest you contact the Consumer Credit Counciling Service (just google it) they will help you to prepare one if you are not sure if you have done it correctly, they are a free charity org.
Once done and sent to all creditors come back here for any further problems.
Regards CCM
I think I have done the in/out sheet quite good, its quite straight forward as I have very little coming in and bare min coming out for clothes, food, gas, electric etc I don't drink so there is no money going out for entertainment etc, I have sold my TV and don't have to pay for a TV license. So all in all its really straight forward and I could not be any more honest or alter the figures to free up more cash for my creditors.
I will follow your advice and contact the CCCS and see what they suggest, my only concern now is that the £5 per month looks like their final offer and they have said its based on me paying the first installments ASAP. My fear is that if I don't do as they say I will have lost my chance to avoid going bankrupt, but on the flip side if I do agree to pay them £5 for each card then I know they will be getting a disproportionate amount and I will not have enough money to keep the other creditors ticking.
CCA from GE Money / Payment plan problem
by now but I think the advice on here has helped a long way with that.
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Re: CCA from GE Money / Payment plan problem
