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Stage 8: Dealing with Secondary Creditors

Subsections : Priority Debts |Secondary Debts |Fact Sheets |Sample Letters |

Sub pages : What Are Secondary Creditors? | Interest | Free Debt-management Plan | Example of Offer to Secondary Creditors | Example Letter to Secondary Creditors | Example Pro-rata Calculation | Making Payments and Ways To Pay | What If My Creditor Refuses My Offer? | What If Creditors Harrass Me? | What If My Creditor Takes Court Action? | Further Action a Creditor Can Take | Can I Get Credit Again? | Credit Repair Companies |

This section explains how to deal with secondary creditors i.e. those that are not a priority.

It explains how to calculate how much you should pay towards your secondary creditors if there are funds available to do so.

It also explains what course of action they may take and how to deal with this.


Your credit rating
Some organisations will tell you it is possible to make reduced payments to your creditors without it affecting your credit rating. This is not usually the case. Most creditors will add to your credit reference file to show that you are behind with your payments even if they agree to your offer. You need to bear this in mind for the future. See Can I get credit again?

 

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