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Regarding Catologes

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Hello, didlt know what section to put this in but need your help please.

 

I currently have around 6 catologes (silly i know, but was new to the whole idea so ordered christmas presents etc)

 

Anyway i have untill september to pay them off but i dont think i will manage i owe around £2400 in total i used the buy not pay back in 12 months...

 

 

I guess what i want to know is, what will happen on failure to pay back ??

 

Do i need to worry about it? as its really making me depressed. Thanks

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hi

 

welcome along

 

moved you to the cat forum

 

stuff here to read too

 

they are very low priority

 

are these all new accounts?

 

dx


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hi

 

welcome along

 

moved you to the cat forum

 

stuff here to read too

 

they are very low priority

 

are these all new accounts?

 

dx

 

 

Thanks mate, and yeah they are around 2-3 months old? Total payback is around 2400-300 by september..

 

But i took them out when i was working properly but i am currently under going an apprenticship within the NHS so only on a small sim of £400 per month, this has to pay £60 phone bill and £200 car bills per month leaving me with around £140 spare

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[un]luckyyou atleast less thanmine

 

p'haps the future will help

 

but i;d leave doing anything till nearer the payback time

 

that way it gives you a buffer to get excuses if need be worked out

 

they will accept low payback

 

have a read in this forum

 

just remember DCA's or NOT bailliffs and have NO suchLEGAL powers

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Do you have your payments set up on direct debit, or do you pay when you receive the statements ?

 

It is not a lage sum in the grand scheme of things, but you will need to set up repayment plans with them.

 

As dx has said, they are low priority debts so you need to sort out a budget sheet - I have attached one below for you. Work out what your disposable income is then you can see how much you have left to offer as token payments. There is a letter in the CAG library, at the top of each screen. You will need to write to the companies and advise that you are no longer able to make the contractual payments and make your offer.

 

As these accounts are so new, I think you might need to speak to one of the Debt Counselling charities give National Debtline a call.

 

Ellens Budget Sheet.xls


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Hi, Dxs advice is spot on here,

 

there a some things to be aware of,

 

the catalogue companies are pretty quick to default accounts,

 

sell them off to debt collection agencies,

 

should this happen to all six of your accounts there is going to be a massive blot on your credit profile for 6 years

and you will not be able to obtain any form of credit,

 

then you will need to totally rebuild a credit profile over at least another 3 years.


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