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- When you have many debts the world can seem very intimidating. The feeling of loneliness and helplessness can be over-powering. Professional debt counsellors and creditors know that the likelyhood of a debtor (the person in debt) being able to sort out their debts without professional help is slim. Creditors want you to offer a fair payment plan or contact a debt counsellor in order to arrange a payment plan that is acceptable to both sides.
- If you feel that you cannot deal with payment negotiation and (most importantly) you are committed to resolving your debts there is an answer.
- In the UK, the Consumer Credit Counselling Service (CCCS) "is a registered charity providing free, independent counselling to help you solve your debt problems, avoid bankruptcy and learn to handle money".
The CCCS Code of Ethics:
"The Consumer Credit Counselling Service is dedicated to providing confidential, professional counselling and money management assistance to financially distressed families and individuals regardless of race, creed, colour, sex, social position or financial status and to fostering education on consumer money management and the wise use of credit."
To talk to a counsellor or to make an appointment with a local counsellor contact the CCCS on FREEPHONE 0800 138 1111. [They are not yet on-line]
The CCCS will give you advice (if that is sufficient for your needs) or they will take control over your debts, arrange a payment plan with your creditors, and deal with all administration. The amount you pay your creditors will be agreed with you (this figure will be fair to both parties). You will pay a weekly/monthly amount to CCCS who will then distribute the funds amongst your creditors.
- If you maintain the arranged payments, and you do not enter into any further credit you will be able to put this experience behind you.
Many thanks to Colin Duguid of Credit to Cash Credit & Debt Management Ltd who is taking the time to provide this information as a service to homeworkers.
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