Ask a CCCS counsellor a question

CCCS_Sarah

smcshane wrote: »

Hi,

I am in the process of putting all my paperwork together in order to start my DMP on 1st June. I am worried about this, but it has to be done, as my main creditor is Barclays (2xloan, OD and Barclaycard). I just wanted to know if anyone has had experience with Barclays so I can prepare myself.
Also, I am trying to open my step account with Natwest but they seem very busy at the minute and I am concerned that this wont be completed in time for my salary to be put in the new account.
Is it reasonable to send my DMP letters to Barclays towards the end of the month as my next payments aren't due until the 01/06.

Regards
Sx

If you need to start your dmp a month later just let the CCCS know and then we can delay it on our systems. If you were to start your dmp a month later you would need to make your creditors a token payment for this month.

The problem that may occur is your bank has the right of offset, this means if you offer a reduced payment to the debts and they see your money in your account they can take it anyway. So to get round this you could ask your work to pay you in a cheque or if as a one off you could have your money paid into your partners account??

Sarah

harrisc0

Hi - we have filled out an online debt questionnaire and it suggested a DMP which we are in the process of collecting all the paperwork for etc and it is due to start month 07, July. Really not looking forward to it in the slightest and actually quite scared and feeling very sick when I think of it

The thing is that when I filled the questionnaire out I put in some of the details incorrectly as I had been hoping to have a higher paid job which I didn't get sadly and when I now enter the correct figures in it has suggested a monthly payment of £380 compared to the £540 it stated first of all and what our DMP is currently being set up as - can I change the current one with this new monthly payment of £380?

We have debts of just short of £33k over loans, credit cards and store cards.

Regards Claire

moneymouth77

Again, not a money advisor... but I'd say, first things first, tell your partner. Work through it together, don't suffer alone.

CCCS_Sue

forumname wrote: »

Hi,
After my CCCS interview yesterday I am starting things off today and need to open a new bank account. I was going to use Halifax but noticed they are linked to Lloyds - who I have debts with.
Looks like I'm left with Nat West, Co-op or HSBC - can anyone tell me if these are linked to any credit cards (apart from their own) as I have quite a list of creditors.

I have searched the forum but can't find this information.
Thanks

Edit: Managed to find some links:
http://www.payplan.com/debt-library/miscellaneous.php
http://www.stoozing.com/cards.htm

gone with the Co-op.

Hi forumname and thank you for your message

I see you have decided to go with the Coop? As far as I can see,the only link is with the post office,so this should be fine.

Regards
CCCS_Sue

CCCS_Sue

OwtForNowt wrote: »

[FONT=Verdana,Verdana][FONT=Verdana,Verdana]
Hi OwtForNowt and thank you for your message

The creditor has 12 days to reply to your request. Did you send the £1 fee with your request?

I have attached a copy of a letter you can use to send to your creditor as they are now in default.

From:

Name:
Address:
Postcode:
Date:
CCCS Client No:
To:
Creditor’s Name:
Account/Agreement No:

Without Prejudice

Dear Sirs
With reference to the above account
I wrote to you on (date) requesting a copy of the above agreement together with the relevant information under Section 77-79 of the Consumer Credit Act (CCA) 1974. I enclosed the £1.00 fee. This letter was delivered and signed for on (date).
I have not yet received the information requested.
The Consumer Credit Act allows 12 working days for this request to be fulfilled. The 12 days ended on (date*) and you are now therefore in default of the CCA.
As you are probably aware this debt has now become unenforceable by law.
May I also remind you that until you produce the agreement and therefore show you have my authority, you cannot pass information to a credit reference agency without my permission.
This situation will remain until you either provide the requested information or a further 31 days expire. The date for this will be (date* + 31 days). At this stage you will have committed an offence and can be reported to Trading Standards.
Yours faithfully


Hope this helps
Regards

CCCS

[/FONT][/FONT]

CCCS_Sue

ehawkes wrote: »

HI, Sorry if this is wrong but this is my first time asking a question. We are in debt to the value of around £90,000 and are working with DebtDR to help find a solution. We are in the process of setting up a DMP and have been advised that the best solution would be to sell our house, which has around £130000 equity, in order to pay off the debts, with the intention of trying to get the creditors to agree to a final settlement. This would mean going into rented accommodation and starting all over again with no chance of getting a mortgage because of our bad credit. I just wanted to know how long a DMP runs for and if there is any other way we can deal with this to save selling the house.
Thanks Liz

Hi Liz and thank you for message

The term of a DMP is dependant on many factors and is not set in stone.
For example, the length of time a DMP will run depends on how much surplus you have in the budget and how much the outstanding debt is.
It also depends on whether the creditors will agree to stopping the interest and charges.
Another thing that can affect the time it takes to pay off your plan, is changes in your circumstances which could increase or reduce the amount you can offer.

Selling the house to release equity and offer full and final settlements is an option but only if you have explored all other options as it would be a last resort. If you sold the house quickly, then it could be a quick solution to your debt problem as you could offer full and final settlements to your creditors, but you have to take other things into consideration such as possibly moving areas, changing schools if you have children and renting somewhere until you got back on your feet again.

It is difficult to give you detailed advice via email as we do not have your full financial situation.

If you would like an appointment to speak to one of our debt counsellors who will explore all options with you, then you can ring out free helpline on 0800 138 1111. Lines are open from 08.00 until 20.00

Regards
CCCS

CCCS_Sarah

onesonsmum wrote: »

Hi MSE colleagues

Hope this is posted in the right place or tell me where too post it ( tried the bin but thats full !)

I owe about 6.5k a shortfall payment from the last recession. I have been paying it regularly and tried in vain for a settlement figure or a write off without any success. This debt is over 10 yrs old and had the interest charges stopped by county court 8 yrs ago.

Now retraining and I only have a small NHS bursary to survive on for the next 3 yrs. I own my car but have no other assets.

I cannot even afford a token payment and the company are prepared to wait it out.

How can I get them off my back? I trying to play ball but they wont budge.

any ideas please??? This is not my only debt just a stubborn one.

really apprec

Sons mum

What’s the shortfall for? Has the debt already gone to a County Court Judgment?

Sarah

CCCS_Sue

kstp2002 wrote: »

hi all, can anyone offer advice? I recently found out i do not have an IVA. It was actually an informal arrangement that Spectrum did for me. This ends 8/6/11, but I'm still going to owe money after this date. I spoke to Spectrum to ask for balances for the money i owe, so i could start to pay some final payments. They said they can't tell me unless i have proof i can pay some off (obviously so they can take their cut) Would i not be better off ditching Spectrum and approaching the banks i owe money to myself?

Hi kstp2002 and thank you for your message

If it is definitely not an IVA, which is a legally binding agreement, and it is an informal arrangement you have with Spectrum, then there is nothing to stop you from cancelling with them and starting to make the payments yourself.

You need to put together a budget showing your income and expenditure. This will show how much surplus you can afford to offer your creditors. Send a copy to each creditor and offer a pro rata payment based on the surplus you have.

Then just make sure you make a regular payment every month.

If you would like any assistance in putting together your budget, you can ring for an appointment to speak to one of our debt counsellors.

The counsellor will also look at all options available for your situation.

If you would prefer to talk to a debt counsellor about your situation, you can book a telephone based appointment by calling our helpline free on 0800 138 1111. Lines are open Monday to Friday 08:00-20:00. It would be helpful that when you call you have details ready regarding your income, expenditure and creditors, as this can help speed up the referral process. If you have this information ready it may be possible to refer you directly to a counsellor if one is available, otherwise we will arrange a time that is convenient for you to be called back for an appointment.

Alternatively, you can visit our online debt advice facility called Debt Remedy. Debt Remedy would assist you in completing a financial statement and you would be provided with tailored advice on the best way to deal with your situation. Click here to go directly to Debt Remedy.

All our help and advice is completely free and confidential

Regards,
CCCS_Sue

CCCS_Sarah

COUSCOUS wrote: »

i am after a little advice. i am currently in about sixty thousand pounds worth of debt and am in the process of selling my house. these are all unsecured credit cards loans etc. i am going to have thirty thousand pounds from the sale of my house and am wandering how, if possible, i can try and make offers to my creditors to get rid of most of my debts. i have been certified indefinitely sick for the past 2 years and, at the moment, this shows no sign of changing, so i am trying to make the most of the money to get rid of as much debt as possible.

any help is really appreciated as at the minute i have no clue what to do.

thanks in advance

Hi Couscous,

There could be a couple of different options once the house is sold. Would be hard to give you exact advice as I don’t have your full financial details.

You could look at offering your creditors full and final settlements. This is offering your creditors a reduced amount to clear the balance. There is no guarantee that your creditors would accept this but worth a shot.

The other option that you could look into is something called a lump sum IVA. This would be a legally binding agreement set up through an insolvency practitioner. Basically you would have a proposal drawn up by the Insolvency Practitioner and they would put this forward to your creditors and they would take a vote on weather to accept the agreement or not. If they did agree the remainder of the debt would be wrote off.

If you would like us to take a look into this for you, you would be better coming for an appointment rather than using the online debt remedy tool. To book an appointment please call 0800 138 1111.

Hope this helps
Sarah

CCCS_Sarah

credit_card_fool wrote: »

hello

i'm thinking of going for a dmp, at the moment i've got 4 CC's with £16000 and a couple of loans in my name, £4000. i also have a joint loan with my OH (14000). would i have to include my joint loan into this agreement??? it may sound daft but my wife has no debt and don't want her to suffer.

thanks

Hello,

If you were going down the route of a dmp all debts would be included, otherwise this would be treating that creditor preferential over the others.

If you would like to see if a dmp is an option for you, you could use our online debt advice facility Debt Remedy. Debt Remedy would assist you in completing a financial statement and you would be provided with tailored advice on the best way to deal with your situation. Click here to go directly to Debt Remedy.

If you would prefer to talk to a debt counsellor about your situation, you can book a telephone based appointment by calling our helpline free on 0800 138 1111. Lines are open Monday to Friday 08:00-20:00. It would be helpful that when you call you have details ready regarding your income, expenditure and creditors, as this can help speed up the referral process. If you have this information ready it may be possible to refer you directly to a counsellor if one is available, otherwise we will arrange a time that is convenient for you to be called back for an appointment.

Sarah