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Budgeting, Financial Management and your Payment

When Creditfix are helping you to prepare your proposal to creditors, your case officer will build a monthly income and expenditure. This will include all of the income you have and all expenses you need to pay monthly, including your essential expenses such as your mortgage, rent and utilities and council tax. There will also be payments for priority debts like secured loans and hire purchase. As well as essential expenses and priority debts there will also be monthly allowances for expenses such as food, clothing, maintenance, hobbies and other living expenses.

The way your payments are calculated is by deducting all of your monthly expenses and allowances from your total income. The remainder may be referred to as your surplus income, disposable income, contribution or monthly payment.

If at any point during your arrangement your income or expenditure changes, it is important that you notify us straight away so that we can make any necessary changes to your arrangement.

During your arrangement it is vitally important that you manage your money well. Sticking to the Income and Expenditure that you have prepared.

If you need more information about the options available to you in dealing with your debt, you can always speak confidentially with one of our friendly advisors on 0808 2085 198.