Example D

Take a look at example D to see where we have taken the unsecured payments away, you will see that we now have a disposable income of £224.00, this is the amount we will use to guide you through the next step, of course your own figure will vary depending upon your own sheet.

You will also see that we have now moved the Bank loan, Credit card A and B along with Other into the none priority debts column. This is because we now have to make offers of payments to these creditors based upon our financial position as we are no longer in a position to pay the agreed repayment as per the credit agreement    

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next page: Creating disposable income

Managing your creditors