Fisrt of all dont panic. Your I and E looks a bit tight as you have not allowed for emergencies, eg minor socialising,haircuts,Xmas,Birthdays etc.
Going by your figures (which I have said are tight) it will take you almost 12 years to pay off your debts.
Your options are thus:
Informal Repayment Plan
Debt Payment Programme (only available in Scotland)
Trust Deeds and Sequestration are last resort solutions. Plus I really dont think you have enough disposable Income to sustain one as most IP's require a minimum of £100 per month.
A formal DPP programme will take 12 years to pay, may be hard getting courts to accept it.
Can you increase your Income in any way? Perhaps by better job. I wouldnt take a 2nd job as you will kill yourself (take this from someone who as a Student had 3 jobs......... )
At this point I am only pointing out the options available to you.To get specialist advice on your circumstances please look at this site.
http://www.moneyadvicescotland.org.uk/d ... agency.php
They are all free advisors.
Good luck and let us know how you get on.
johnlarsson wrote:I got a link via tha above website to a National Debit line. it let me download a pack with a lot of information on it..
it told me to draw up a i and e sheet and work out how much I can afford to pay each company and send it to them. Which I have now done.... fingers crossed they all agree..
if any dont and I get taken to court. Can they court order me to send my HP car back and use the money from that to pay off more each month?
No- they cant order you to send your car back, only if you dont pay your HP agreement they can repossess (may need a Court Order depending on how long you have had agreement) Or if you file for Bankruptcy and sometimes Trust Deed