V
VWorried
Guest
Hi all,
I'm in a lot of bother. I'm on a good salary, but due to family circumstances etc I am in a lot of debt. Its at the stage now where my repayments are almost equal to my salary, meaning I j=have to use credit card for the weekly shop, so effectively I'm getting further and further into debt.
I have contacted a debt management company(similar to MABS) who can negociate smaller repayments with my creditors.
I am up to date on all repayments at the moment but know its just a matter of time before I can no longer make payments and so end up with a bad credit rating - its inevitable.
I have requested my records from the ICB and surprisingly only 3 loans/credit cards show up (all up to date).
So what I'm thinking then is if I negociate smaller repayments with creditors NOT on the ICB (and keep to the agreed repayments with those on it) will my credit rating remain intact?? Its odd because my mortgage isn't on it, and 2 credit cards not on it. I'm confused - I know I need to do something to stop the cycle of debt but if I didn't end up with a bad rating it would be a bonus!
Thanks
I'm in a lot of bother. I'm on a good salary, but due to family circumstances etc I am in a lot of debt. Its at the stage now where my repayments are almost equal to my salary, meaning I j=have to use credit card for the weekly shop, so effectively I'm getting further and further into debt.
I have contacted a debt management company(similar to MABS) who can negociate smaller repayments with my creditors.
I am up to date on all repayments at the moment but know its just a matter of time before I can no longer make payments and so end up with a bad credit rating - its inevitable.
I have requested my records from the ICB and surprisingly only 3 loans/credit cards show up (all up to date).
So what I'm thinking then is if I negociate smaller repayments with creditors NOT on the ICB (and keep to the agreed repayments with those on it) will my credit rating remain intact?? Its odd because my mortgage isn't on it, and 2 credit cards not on it. I'm confused - I know I need to do something to stop the cycle of debt but if I didn't end up with a bad rating it would be a bonus!
Thanks