Dealing with your non-priority debts

​What if I have no money left to pay my creditors?

No payments or token payments

After paying your outgoings and making arrangements to pay your priority debts, there may be nothing left to pay other creditors. If you have nothing left, say so. Show your creditors by sending them your budget summary and a letter to back this up. Ask your creditors to hold action until your circumstances improve. This is called asking for a 'moratorium'. Or offer a token payment of £1 a month to each creditor instead.

Token payment or no offer of payment sample letter