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how much money will they expect me to pay back each month?

(4 Posts)
worriedandneedhelp Tue 05-Jul-11 19:39:13

posted last week about a debt collector coming to my door as my house was reposessed after i fled domestic violence. am now with the cab and they have made me an appointment to see their debt advisor to sort out how much i can pay them per month.
thats not till august so am just worried about how much i will roughly be paying back a month, will it be in the hundreds or the tens. i am a sahm on income support. supposed to be starting college in september but they said they won't take that into account at the time. any advice would be great or anyone who has been in this postion. thanx

hazeybabes Tue 05-Jul-11 21:31:46

The CAB will probably help you to fill in a financial statement and from this will work out how much you can afford to pay each month (and no more). If you have more than one debtor it will all be worked out relative to the amount that you owe to each one. So you might be paying one debtor £25 and another just £1. The debtors will accept this arrangement because this is exactly what would happen if you were taken to court. However, the debtors themselves can, in my experience, be lying bullies so don't enter into a discussion with them. Tell them that your debts are being dealt with by the CAB and they'll probably ease off. Also, once you've got it all sorted, keep your financial statement uptodate as they'll want to review your payments every so often.

LaurieFairyCake Tue 05-Jul-11 21:34:34

You ignore them. And get debt advice from the Cccs.

If you have no assets and owe tens of thousands then they will likely suggest you declare bankruptcy.

Being in debt is not a crime, feel free to ignore them and their threats.

coccyx Fri 08-Jul-11 19:03:12

You can only ignore them so long.

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