It’s that time of the month again where I try to answer common debt questions searched for on this Blog. I haven’t done this for a while because I have been busy writing about other things. However in order to make up for that I have started these types of posts again.
I will try to remember for next month and I hope to keep this up in the future. Let’s have a look at this months debt questions on Debt Advice Blog.
If I pay off Mackenzie Hall will that be the end of it?
Yes assuming they are collecting the whole balance. You may even be able to make a partial settlement. Once the account is paid your relationship with Mackenzie Hall will be concluded. Any default on your credit report should be marked as either satisfied (if you paid in full) or partially satisfied (in the case where you pay most of the debt off as a final settlement).
Where can I find a debt recovery letter to reduce payment?
You can get one on this blog. The letter is known as an offer of repayment letter. Simply change the template to your liking and you are set.
You may also would like to include an income and expenditure form. You can get one of those on this blog too by the way.
Setting up a Payday Express Payment Plan?
You should send Payday Express an e-mail or write to them. They should come back to you asking for some information such as your income and expenditure. It shouldn’t be a problem to set up a repayment plan with them now.
Is Aqua Credit Card any good?
When used sensibly it serves its purpose. When used incorrectly you might want to avoid it. The Aqua Card can be a good tool to help you rebuild your credit so long as you don’t make the same mistakes I did.
Will Wonga Let me Set up a Payment Plan?
Yes they will. I set up a repayment plan after a bit of hassle. I was assured that this has changed now and it should be much easier for you to set up a payment plan with Wonga.
Can I get a CCJ for Mobile Phone Debt?
You can unfortunately. Make sure you agree an affordable repayment plan with the debt collection agency and you should be alright. Be sure to make your payments on time. A CCJ is usually used as a last resort and in most cases you can avoid this altogether. However if you dispute the debt then you need to talk to the original creditor to explain why.
How to stop Wonga adding interest when you can’t pay?
You should contact Wonga to explain that you are experiencing financial difficulties, Make an offer of repayment and they should agree to your proposals and freeze the interest. Be advised though that if you default on the arrangement, they may add the interest back on again.
Can I cancel my Debt Management and start to pay my debt myself?
You can if you think you are up to it. I manage my debt myself using my own Debt Management Plan. See the links below to find out more about what is involved.
That’s all for now. Thank you for reading and if you have any questions, please feel free to ask.