Ask a CCCS counsellor a question

CCCS_Sue

jules40 wrote: »

Hi all,
have hit the brick wall and realised i need to give my head a shake re my mounting debts, i am up to date with all payments but despite getting new job am really struggling and have been living off credit cards arghhh, have been on cccs website and they recommend dmp and to pay £510 a month to pay off my credit cards and loans will take me almost 7 years, massive debts of £42,000 (doesnt include mortgage) , my question is my mortgage is due to come out of 2 year fixed rate in june this year, obviously no-one will give me a new mortgage coz of debts so will my mortgage just revert to standard one? and will having a dmp cause me problems with my mortgage?

Hi jules40 and thank you for your message

It’s good to hear you are taking control of your finances as it is never a good idea to live off credit cards as you are constantly paying extra interest on any purchases you make if you do not pay off the full amount each month.

I would have a word with your lender with regards to your mortgage.
It would depend entirely on their lending criteria and the offers they have at the time that your fixed rate is due to end.

You should let us know of any changes in your circumstances whilst you are on your DMP.
For example, when your fixed rate mortgage comes to an end, let us know the new payments so that we can adjust the payments to your DMP accordingly

Having a DMP should not affect your mortgage as you are merely using the plan as a way to pay off your debts. However, the amount of debt you owe could affect your mortgage regarding the amount you could borrow.

Hope this helps

Regards
CCCS

CCCS_Amanda

sandeevie wrote: »

Hi Wendy
I just have a question I need answering I set up a repayment plan with cabot to clear a debt with Vanquis but it is for a debt of £899.23 but I am sure my card was £200 limit I know it was nowhere near this amount so while reading some correspondanceon here it occured to me this must be for intrest and fines can I claim these back so they are removed from what I am paying back? if so how would I do this? any help you can give would be great
Thanks
Sandee:mad:

Hi Sandee,

If you want to find out why the balance is so high then you can ask the creidor to send you a statement detailing the transactions on the account. The statement should detail any service charges or any interest charges added to the account. I have attached a template letter to assist you writing to them for this information.

To

Without Prejudice

Dear Sirs

Ref …………………………………….

With reference to the above account:

Please will you send me a true copy of the original signed agreement together with an up to date statement of the account showing all transactions, including interest and charges, and a copy of any other document referred to in the agreement.

I understand I am entitled to this information under ss77-79 of The Consumer Credit Act (CCA) 1974.

I also understand that this information should be sent to me within 12 working days of you receiving this letter. The CCA states that creditors are unable to enforce an agreement until this request is complied with.

I am enclosing the £1:00 fee, payable under the Consumer Credit Act 1974, for each account.


Yours faithfully

Unfortunately there is no way to claim these charges back or to make the creditor refund the charges. The credit agreement that you signed covers all of the charges that creditors normally add to an account.

Regards,
CCCS_Amanda

CCCS_Amanda

JABBA wrote: »

Can anyone tell me if you can evoke PPI if you have been fired from your job?

Hi JABBA,

You would really need to check the terms and conditions of the agreement that you have signed; each policy will have different qualifying criteria.

I hope this helps.

Regards,
CCCS_Amanda

jules40

Hi CCS Sue
thanks for your reply i have requested info regarding DMP but think i need to change my bank to one i dont have a credit card attached to but not sure which one or what sort of account?
Jules

debtfreenewbie

I contacted a creditor with an offer of payment per month of 5.00. I included a copy of our financial statement. They have written back saying they want payslips and proof of benefit if any.
Are they entitled to do this? I consider what we sent to be adequate.

Any advice please.

koneka

Thank you Sarah for your work. I know that there are a lot of people with debt related issues and often they don't know where to go and who to talk.

CCCS_Alan

Flyboy wrote: »

hi,
Can anyone here point me to the correct page? My wife and I are making regular payments to a debt collection agency and they are now starting to make threats about 'action' if we won't increase payments! We have today asked them to clarify what they mean by this. Also, they threatened this 'action' if we did not supply an update financial statement within 5 days!! Can they do this, and what actions can they take, even when we're paying regularly? We're in Scotland.

Thx in advance.
Flyboy

Hi Flyboy

Its difficult to say what the debt collections agency (DCA) means, however, it may mean some form of legal action e.g. taking a decree through the sheriff court. I can understand that you are worried but it may just mean that the DCA need to reconsider your circumstances & need to know if they have changed i.e. for the better then you can afford to pay them more.

I would consider checking your budget with our in-line Debt Remedy service and this can help you check whether the payments you are paying, continue to be realistic. If they are then supply the creditor with an up to date financial statement to confirm the payments are to continue or make them aware of any change.

It is important that they continue to be aware of your current circumstances even if it to confirm that they haven't actually changed. They can then reset your agreement for their own particular time frame. It is always in your best interests to co-operate with your creditors.

Regards

CCCS_Alan

4littleone

Hi,

i have three CCJ's which were added to my credit record in 2007, incurred through redundancy and one from a dodgy ex.... (but that's a whole different thread!)

I have now paid them all off with a loan from a credit union and they are marked as satisfied.

Can you tell me if this will improve my credit record or is a satisfied CCJ just as bad as an unpaid CCJ?

I'm asking because my partner and i will be moving house in a couple of years and we would like a joint mortgage (at the moment it is in his name only with a deed of trust for me). I am unsure about whether or not i would be considered to go on a mortgage then as the CCJ's will not fall off my record until 2012.

4littleone

Hi,

i have three CCJ's which were added to my credit record in 2007, incurred through redundancy and one from a dodgy ex.... (but that's a whole different thread!)

I have now paid them all off with a loan from a credit union and they are marked as satisfied.

Can you tell me if this will improve my credit record or is a satisfied CCJ just as bad as an unpaid CCJ?

I'm asking because my partner and i will be moving house in a couple of years and we would like a joint mortgage (at the moment it is in his name only with a deed of trust for me). I am unsure about whether or not i would be considered to go on a mortgage then as the CCJ's will not fall off my record until 2012.

Many thanks.

CCCS_Alan

Ayaant wrote: »

Hello there!

I have had a running dispute with RBS over a loan they mis-sold to me. Went to FOS and have only now received their decision, which is in my favour. RBS have been instructed to recalculate the loan amount, pay me £400 for inconviniencing me- GOOD NEWs. Bad news is that whilst my complaint was being looked at by FOS, RBS and their debt collector continued to pursue me for the amount that I complained about. They recently told me they were in the process of issuing a CCJ against me, despite me paying them an arranged amount monthly to reduce the loan. It all does not appear to be legally sound to me, and therefore am looking at legal defence against RBS, and perhaps challenge RBS that the loan is not enforceble. Seen loads of ads recently claiming that loans taken out before 2006, particularly is mis-sold can be wiped out. Any truth in that? Ideas p'se from you wise lot on this forum.

Hi Ayaant
There seems to be a lot of organisations offering “wipe-off debt” services for a substantial fee. It’s worth noting that consumer credit debts will only be written off, if there is clear evidence that the creditor in question has breached the guidelines set within the Consumer Credit Act. The commercial companies offering to wipe off debts seem to be advertising this to the wider market, without prior knowledge to the individual’s financial situation.

If you are in a position where you think your creditors have taken unnecessary action which breaches the CCA and have evidence that proves so, then you could consider going down the route of disputing the debt through County Court. I would be very careful of any organisation offering such services, especially when they are charging substantial fees with no guarantee of success, when it’s something that you could do for yourself.

The advice would be that if you do feel you have a case where you feel your creditors have breached the CCA, speak to someone who can offer free independent advice, such as the Office of Fair Trading.

More information can be found on the Office of Fair Trading website: http://www.oft.gov.uk/news/press/2008/consumeralert.

Regards

CCCS_Alan