Below is a list of FAQ’s related to payments. If the answer to your questions cannot be found here please feel free to contact us on the freephone number above or use the Contact Us page on the website.
How will we arrive at my monthly payment?
We calculate your disposable income by deducting your essential expenditure from your total income.
This gives us the figure you can realistically afford each month to pay towards your debt. “Essential expenditure” is made up of all living expenses, secured debts and hire purchase agreements, which you must continue to pay.
An allowance is made for basic satellite TV and mobile phone packages, along with entertaining and motor maintenance etc.
How do I know payments are being made to my creditors?
We will send you a regular statement, showing exactly what has been paid. In addition, you will continue to receive statements from your creditors as normal. These will also confirm payments they have received.
I am concerned that if I miss a payment to my creditors whilst you set up my arrangement, my accounts may go into arrears
Whilst it is true to say that your accounts may go into arrears initially, in practice this is usually not a problem – before your creditors’ systems flag any action as a result of a missed payment, we are usually in communication with them. In order for this to arise we would have received payment from you – and *once we are working on your behalf, if you do get a communication from a creditor, you can simply pass it over to us. Our thousands of clients have found the benefits of setting up an arrangement far outweigh any initial difficulty.
*If you are concerned about delays in us dealing with your creditors, simply authorise us to commence work on your behalf immediately after receiving your payment and we will waive the seven day “cooling off” period. (Please note, otherwise, in some instances it may be advisable to make token payments to your creditors, please discuss this with us)
What should I do if one of my creditors contacts me?
If you are contacted in any way by one of your creditors, we will deal with this for you. Most correspondence is generated automatically by computer, but if you are concerned please call us on 08712 222 280 so that we can determine what action is necessary. If you are contacted by creditors over the phone, just give them your Chiltern account number and ask them to call us on 08712 222 280 to discuss.
What if I want to stop the arrangement?
If for some reason you wish to cancel your arrangement, you are free to do so at any time.
However, the reduced payments which have been negotiated on your behalf are subject to all elements of the arrangement which we have negotiated, remaining intact. It should be noted that, should your payment arrangements with us be terminated, you would immediately become liable again for the full outstanding balances of all your debts.
Therefore, it is obviously to your advantage to stay with the arrangement until your debts are cleared, and this is what most people do.