Ask a CCCS counsellor a question

CCCS_Sue

Scottishmummy wrote: »

How do CCCS feel about Credit Unions? I have been considering opening an account with one and paying in my emergency fund mainly to save for a new washing machine as I am sure my one is on its way out. This way if and when it does breakdown if i haven't saved enough for a new one I would be able to borrow the rest needed from the Credit Union at what I believe would be a very low rate. But obviously this is still credit which goes against the DMP agreement. Would this be an 'allowed' credit if what I was paying back was my emergency fund anyway?

Thanks in advance for your reply.

Hi scottishmummy and thank you for your message

I would advise that you contact our client support team and explain that you need to save towards a washing machine.

They could look at temporarily reducing the payments to your plan until it was paid for rather than you taking out further credit.

You could then use the money you save, plus your emergency fund, to pay for the washing machine.

If you need the telephone number, send me a PM and I will forward it to you.

Regards

CCCS_Sue

CCCS_Sue

jasperconran wrote: »

Hi,

I would like to ask the experts a question! basically my OH and I owe roughly just over 30,000 on credit cards, :eek:and we have 2 loans. We earn really well between us, and when I posted my SOA on the DFW board, on paper we should have just over 400 quid a month spare, but we havent! dunno where it goes! anyway, I was just wondering if a DMP would be the best way forward for us? Both our credit ratings are excellent (dont really wanna change that) if we can help it, and we have never ever missed any payments whatsoever. But I feel (although my OH doesnt agree) that we are struggling every month and its getting me down. I am currently studying part time as well. My OH tends to not to listen when I try to tell him about things, I am the only one who has had my LBM! and I am tired of struggling on my own. any ideas? please help. thanks

Hi jasperconran and thank you for your message

It’s good that you are taking steps now to deal with your debt situation before it gets any worse, especially as you feel you are starting to struggle.

I would recommend that you make an appointment to speak to one of our debt counsellors to discuss your situation in more detail.

After looking at your income and expenditure and the total debts you have, the counsellor would explore all options available for your situation and if a DMP was the best option, would explain the next stages.

We would need your OH permission to include his debts.

The free helpline number is 0800 138 1111.

Regards

CCCS_Sue

CCCS_Sue

icecube2009 wrote: »

Hi
I am in the middle of setting up a DMP, but finding I am struggling to find all the statements I need from the diferent creditors, is It ok to send them statements printed from the on line accounts ?
Thankls

Hi icecube and thank you for your message

What we need are up to date statements which show your account number, the creditors name and address to write to, and an up to date balance.

If the online statements provide all this information, then that is fine.

Otherwise, you may have to write to the creditors and ask them for the updated statements.

If you are having problems getting this information, then it is important you contact our client support team and let them know as it could delay the setting up of your plan.


Regards
CCCS_Sue

CCCS_Sue

icecube2009 wrote: »

Sorry another question, my account with Lloyds TSB costs me £17 a month, plus all the extra charges and the same with natwest & they are still adding these on, I just got a letter from natwest this morning saying they will be taking £42 charges next month, how can I get them to stop this? Thanks

Hi icecube2009

Have you managed to change your bank account to a basic one where you have no debts?

This is the first priority so that you are back in charge of your finances.

You should have a sample letter that was sent to you when you were offered a DMP that you can use to send to all your creditors to notify them that you are going on a DMP (Notification of DMP)
This explains to the creditors that CCCS will be contacting them with an offer of payment.
Have you sent this letter with a token payment you can afford to cover the period until your plan starts?

The creditors will normally put things on hold until they hear from us when they receive this letter, but this is not guaranteed. It is at the discretion of the creditor.

Any charges or interest incurred can be added to your plan.

We do ask the creditors to consider stopping all interest and charges once your plan is up and running and they are getting regular monthly payments.

Regards
CCCS_Sue

monkeylady_3

Hello: see my signature for my financial situation. I am being paid a chunk of overtime this month which should mean that my massive overdraft debt, by the end of the month, should be £1100. I was wondering though if it's wiser to use this chunk to pay off one of my existing credit cards - especially as this could improve my credit rating! Or I could keep it in my overdraft as it is my most expensive debt (29% per annum!).

icecube2009

CCCS_Sue wrote: »

Hi icecube2009

Have you managed to change your bank account to a basic one where you have no debts?

This is the first priority so that you are back in charge of your finances.

You should have a sample letter that was sent to you when you were offered a DMP that you can use to send to all your creditors to notify them that you are going on a DMP (Notification of DMP)
This explains to the creditors that CCCS will be contacting them with an offer of payment.
Have you sent this letter with a token payment you can afford to cover the period until your plan starts?

The creditors will normally put things on hold until they hear from us when they receive this letter, but this is not guaranteed. It is at the discretion of the creditor.

Any charges or interest incurred can be added to your plan.

We do ask the creditors to consider stopping all interest and charges once your plan is up and running and they are getting regular monthly payments.

Regards
CCCS_Sue

Hi Sue
Thanks, yes I have sent out my first lot of letters with token payments, just getting together statements to send to CCCS, so assume DMP will start 1st June, so I will send out the letters again & more token payments for May (is that how it works?).
Thanks

CCCS_Sue

icecube2009 wrote: »

oops, and 3rd & final question (for now) is it ok to have a credit card if we pay it off as soon as we use it? I often grocery shop on line as I find i save money this way (only buy what I need) but DH doesnt like putting a debit card on the internet, so if i was to use a credit card (have one with 0 balance which I have never used) pay for my shopping then immediately pay whatever the shopping cost off my card would that be acceptable or not? not a problem if not, just need to convice DH its ok to use a debit card on line!

Hi icecube2009

If you are on a DMP, you would not be able to use your credit card as the whole idea is to get away from all credit and live within your budget.
So using your debit card would be better!

There are lots of bargains to be had in the supermarkets at the moment as they are all competing with one another, so perhaps it’s better to visit your local supermarket and search out the bargains! Make a list and stick to it and then you won’t be tempted to overspend!

Regards
CCCS_Sue

louise56489

If you make an offer of payment on an outstanding debt, no matter how small, is this acceptable and does the company have to accept it?

scruffypet

I orginally wrote to them all in dec last year and that is when istarted paying the reduced amounts. the ones that are being difficult (Freemans and sainsburys bank) say ihave to pay more and they keep putting late payment charges and interest on the account

CCCS_Sue

monkeylady wrote: »

Hello: see my signature for my financial situation. I am being paid a chunk of overtime this month which should mean that my massive overdraft debt, by the end of the month, should be £1100. I was wondering though if it's wiser to use this chunk to pay off one of my existing credit cards - especially as this could improve my credit rating! Or I could keep it in my overdraft as it is my most expensive debt (29% per annum!).

Hi monkeylady and thank you for your message

The debt with the highest interest should be dealt with first.

Regards
CCCS_Sue