CCCS - Secured loans

Robbda

Ok

Wanna check - i'm in arrears with a secured loan, and sent the details to CCCS they haven't mentioned anything about it but i sent my letter telling Paragon to bogoff till the DMP is in place and they wrote back saying that CCCS can't help me with them because its a secured loan..is that true am i going to have to...talk to them...?

fermi

CCCS can only include unsecured non-priority debts in a DMP as far as I know.

Failure to make full contractual payments on a secured loan/debt will give the creditor the right to repossess the asset.

The CCCS site doesn't explain it very well, but the Payplan one does.

A DMP will only help you make reduced payments to your unsecured creditors, therefore the debts that can be included are:

• Personal loans (loans taken to purchase cars are fine but Hire Purchase (HP) agreements cannot be included)
• Credit cards
• Store cards
• Catalogues
• Overdrafts

Secured debts can't be included in DMPs because any payments on secured debts that aren't met in full, can lead to the goods being repossessed.

Robbda

ahh ok just wanted to check - guess where my £29 is going

CCCS_Sarah

Hi Robbda,

You need to treat any secured lending as a priority over your unsecured debts including any arrangement you have in place you clear the arrears. Do you have an arrangment in place? Was your counsellor aware of your secured lending arrears? If you are unsure you are more than welcome to give us a call so we can look over your budget.

Sarah