I am worried what will happen to my debts for the first 2 months as no payment will be made?
by kerry 7 months ago.
I understand you won't start paying my debts until the 3rd payment. So for the first 2 months what will happen to my debts if nothing is being paid.. could they take me to court?
Answered by Charlie Adams last updated 7 months ago.
We understand your concern but we don't want you to panic because we explain to the people you owe money to that we retain the first 2 payments. Most fee charging debt management companies will keep the first 2 payments, some even retain 3 or 4 months worth, so this is something the people you owe will know happens.
We appreciate that it means this money isn't coming off the amount you owe in the short term but this money is used to make sure we can work to get the best arrangements in place for you, in hope of reducing your overall debt in the long run.
Debt Line can never guarantee that any of the people you owe money to will not take action against you. However, the most common process would be for the debt to transfer to a 3rd party collection agency, rather than going down a legal route. Don't worry, because these 3rd parties tend to be a lot smaller and more willing to negotiate with us anyway.We appreciate that it means this money isn't coming off the amount you owe in the short term but this money is used to make sure we can work to get the best arrangements in place for you, in hope of reducing your overall debt in the long run.
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