OK, I just need to take a bit of information to see how we can help you today. Tell me a bit about what is happening, are you getting creditor hassle?
Yes….
Tell me about your debts….do you have credit cards, loans etc?
I have a store card with about £1000 on it, a credit card for £1500, and a catalogue for about £350.
Ok, how much are you paying to them each month? Do you find it a struggle?
Yes… they’re asking for £200 each month but I can’t afford that.
Right, let’s have a look at how much you can genuinely afford to pay each month. What you are getting as an income each month and do you get any benefits?
I get about £900 each month for wages and £81.00 child benefit. I get some working family tax, but I can’t remember how much…
That’s ok, you can send that to us later. Let’s have a look at what you are paying out then. I just want to know what you HAVE to pay ie rent, utilities etc, and then we will see how much you can afford to pay towards your debts
I think I pay about £850 each month on rent and my other bills
OK so that leaves £131. How you feel about paying that to your creditors each month?
Yes, that’s better than the £200 I’m struggling to pay now, but how does it work?
Well, in a nutshell, you pay us and we pay them. The payment plan is a really informal and flexible way of paying your creditors without you having to get extra credit, and helps you to manage your own money. You aren’t tied into it for a set time, you can come out of it when ever you feel you can cope on your own.
Does your service cost me anything?
Because we do a lot of work for you as soon as we get your paperwork, we retain the first monthly payment. We then take 17.5%, subject to a minimum of £25 per month to cover continuing admin costs, so, out of your payment of £131, £106 will go to your creditors…. How does that sound?
That sounds great! What do I need to do now?
I need to get some paperwork from you asap. You need to sign the application form and letter of authority as this lets us speak to your creditors on your behalf, and I need some information regarding your debts. Are you overdrawn at the moment?
No.
OK, so will need you to complete the standing order form I’ll send you with your bank details. As soon as we get this back from you, we will contact your creditors within 24 hours. If you need anything, please call me. We will ring you in a couple of days to make sure you have got the paperwork. Are you happy with everything?
Yes that’s great thank you so much for your help… I feel so much happier.