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Advice : Big PDL Debt : Sort myself or via Free Debt Manager


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Hello All

 

I have £4500 in PDL debt with many different companies and it is completely my own fault (it is much more than my monthly salary). I have been reading these threads for the past couple of weeks and it has provided me with piece of mind and conviction to stop this cycle of craziness. I have not yet defaulted or missed a payment on any of the PDLs or any other debt I have.

 

The PDL debt is with companies that I have two years of history and successful repayment with, it has not always been revolving credit.

 

When I look at my budget I have £500 spare per month after paying personal loans, rent, CC etc, so equates to 9 months to payback the existing PDL loans. I know I have no access to any other credit facility or extension of credit as all of those options are previously exhausted.

 

Due to the share scale of my issue, should I try to deal with this myself or am I better off going through a free debt management service ? I do not want to touch or cause any issues with my prime debt so I do not want that considered.

 

Thanks for your considered replies.

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Your priority debts come first. Also, dont shortchange yourself on the outgoings. You need money to live on , plus extra for emergencies/clothes/socialising etc. The money that is left after all that can then be split between the PDL's. If they don't like it, tough luck to them. Send them a budget summary ( not a fully itemised I&E form) and pay them a token payment of £1 a month until they accept.

 

If you are worried, give national debtline a call on 0808 808 4000 It's free and they are very experienced and can help you decide what option is best for you.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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Your priority debts come first. Also, dont shortchange yourself on the outgoings. You need money to live on , plus extra for emergencies/clothes/socialising etc. The money that is left after all that can then be split between the PDL's. If they don't like it, tough luck to them. Send them a budget summary ( not a fully itemised I&E form) and pay them a token payment of £1 a month until they accept.

 

If you are worried, give national debtline a call on 0808 808 4000 It's free and they are very experienced and can help you decide what option is best for you.

 

I used Payplan before... they are free, and also will make payments on your behalf.

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