[Alt text]

Nil offers can be a good option if you don’t have any available income.

It is likely that your creditors will pursue you if you do not pay anything towards your debts, unless the creditors accept a ‘nil offer’ as a short term measure.

You will need to demonstrate that you are in short-term financial difficulty.

You should write to your creditors with a copy of your budget showing you cannot afford to pay anything and explain to them any steps you are taking to address your budget.

You should also include a request that interest and charges should be stopped and no recovery action should take place whilst you try to address the situation.

Your creditors do not need to agree to this and can continue to recover the debt through the county court.

Any reduced, late or missed payments will have a negative affect on your credit rating.