How does it work?
If you’re finding it impossible to pay the full amount of your bills and debts, you may be able to arrange a Token Payment Plan with your creditors – in which you pay a smaller amount that you can more easily afford.
The first step is for you to figure out your budget and see how much you can realistically manage to pay each month. You don’t want to over-promise anything, or leave yourself short of money for your rent, mortgage or daily essentials.
Even if you can only spare a pound or two, it’s worth paying this money to your creditors to show that you’re trying your best. But they’re under no obligation to reduce the interest and charges on your debt and may decide not to do you any financial favours.
In addition, making reduced payments towards a debt can sometimes impact your credit record, meaning it may be difficult for you to take out more credit in the future. So before you do anything towards a Temporary Repayment Plan, it’s a good idea to get advice from a free, independent and expert service like ours.
Get in touch with our team today by calling 0800 138 3422 or filling in our short assessment form.
What to expect
- We’ll use the information you’ve given us to establish the nature and urgency of your debt.
We’ll continue to advise you and give you a detailed analysis of the help available to you. We can do this by booking you in for a face-to-face appointment at your nearest centre, or a telephone or video call advice session or continue to advise you by message.
You choose how we can help you
We’ll explore your situation and get all of the information to be able to provide you with advice. We will then discuss your options and talk you through the pros and cons of each.
- We’ll establish the best possible solution and help you to resolve your debt – whether that’s by means of advocacy, representation or negotiation on your behalf, or by helping you write letters and supporting you throughout the process. If you need advice from outside of our services then we can refer you for further support too!