Step 8 - Make the offered repayments

To demonstrate that you are not ignoring the debts, start making the offered repayments.

Step 9 - Keep communicating with your creditors

Don't ignore letters or phone calls from creditors.

Don't be surprised if creditors reject the offer and pass the debt to a collections agency - if this happens, send a copy of your Budget with a copy of your offer letter to the new company. You should still continue to make the offered payments to your creditor even if your offer is refused.

When your financial situation changes and you can either pay your creditors more or less, write to them. Revise your Financial Statement (as in Steps 2, 5 and 6) and send them a copy of the Budget (as in Step 7). Use the following link to download the 'Change of Situation' letter outline to produce your own letter for this.

Expect your creditors to want to review your situation every 12 months, or earlier if your situation changes. When they ask for this you'll need to review/revise your Financial Statement and the amounts still owed on each debt, and produce a new Budget to send to them.

MEANWHILE - DO NOT BORROW MORE MONEY!

USING CREDIT CARDS, STORE CARDS AND OVERDRAFTS ARE ALL FORMS OF BORROWING MONEY

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