Its a payment of €330 per month to the company,
€49.50 per month goes to the company
the rest would go to my debts.
Remember you will be paying the debt management company almost 600 euro in a year. why add another expense in order to sort out others.
You have unsecured debts, pay them PRO RATA out of your 330 per month. This is what MABS would do if they were to write to your creditors on your behalf.
Complete a statement of income and expenditure, send a copy to your creditors and start paying the revised amount. e.g. you have 22,370 in debts, the credit union would get approximately 50% of the 330 and so on.
Remember if your are taken to court and show the I & E statement, what would a reasonable judge decide.? In all probability, he would side with you.
Once you are being fair with everyone, you should have no problem.
there is a frequent poster, Gerry Canning, you would do a lot worse than having a chat with him. he talks sense.
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