If you are considering a Debt Agreement then you are probably in a situation where your Debts are causing you misery and you don’t see any other way out.
A Debt Agreement is a great option providing that you can maintain the payments. When working out how much you can afford it is important to consider all of your living expenses. It is pointless offering an amount you are unable to afford.
It now doesn’t matter about your prior mistakes, it is important that you get this Debt Agreement right. It is what is going to get you out of debt so it must be put together with thought.
Remember you can offer whatever amount you wish. It is then up to your creditors to decide if they want to accept that offer or not.
Beware however that it is not a negotiation festival. You are supposed to offer the amount that you can most afford. You are not supposed to be trying to get away with it for as cheap as possible. This is not how the system works. Run as fast as you can from any adviser who tells you that it is a negotiation and they will get you the best deal. That is not what Debt Agreements are about.
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