Author Topic: Ticking along at £4 a month  (Read 8389 times)

trinty68

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  • Posts: 9
Ticking along at £4 a month
« on: Jan 14, 2016, 03:23:03 PM »
Hi all,
I have £15,000 unsecured debt with santader and with the help of citizens advice I have been making token payments of £4 for the last 2 years. Quite surprisingly my debts have not been passed on to an agency and I have never had any pressure from the bank. The reason I pay a token amount is because I am paying my ex wife child maintenance. That will stop in 4 years time and I will have an extra £350 a month. So what would be the advice there as I could not get away with paying a token payment then surely. Would an iva be a good option or should I try and negotiate a deal with the bank to repay them over time?