Can I pay my debts off quicker?

by Charlie Adams 10 months ago.

Hi Lee,

I'm sorry to hear you are struggling. We want your payments to be affordable for you.

To reduce your payments click on the link given in the above answer. We work out how much you can afford to pay by calculating the difference between the money you have coming in and the money you are spending. Please check that we have the most up to date details for you.

The people you owe money to cannot force you to pay more than you can afford as long as we provide them with an up to date financial statement. Let us know if we need to send out a new one by calling 08000919991.

by Gina 10 months ago.

What is a Financial Statement?

by Charlie Adams 10 months ago.

Hi Gina,

The people you owe money to need a financial statement from us to show them how much you can afford to pay.

This includes a list of your income or benefits, the things you spend your money on and the debts you have on your plan.

Thanks!

by Henry 8 months ago.

If I want to make two payments in one month, will I only incur one months management fee?

by Charlie Adams 8 months ago.

Hi Henry,

We charge a management fee for each payment we make to your creditors. So, if you pay twice in one month we will charge 2 management fees.

However, if we received the double payment on the same day we would only charge 1 management fee or 15% of the total (whichever is greatest).

If you are looking to increase your monthly payments in the long term, please update your income and expenditure on your online account to allow for this.

Thanks!