Ask a CCCS counsellor a question

BlondBoy

CCCS_Sarah wrote: »

Hi blondboy,

I have attached a link to a booklet that has a list of basic bank accounts. As long as there is no link between the banks and you have no debts with the bank then it should not be a problem.

http://www.moneymadeclear.fsa.gov.uk/pdfs/bank_accounts.pdf

Hope this helps
Sarah

Thanks Sarah. Don't think I was quite clear. One of my debts was/is with Sainsbury's = HBOS = Halifax. So there was a link.

What I wanted to know was now the debt has been sold and Sainsbury's/HBOS don't own it any more, does the Right to Offset still apply ie could they still remove money from the Halifax account even though they have fully sold on the debt.

Thanks again

nuttytart26

CCCS_Sarah,
THank you, you are a star and your help is much appreciated. I will contact them tomorrow and let you know how I get on.

Thank you.

J x

indirestraits_3

Hi, I hope you can help,
I currently have two high interest credit cards (one 500, the other 250) with about 100 overdue balance on each. I previously took out a payday loan of 400 which I thought I could pay off with my Christmas bonus which was then not given so I took out another in a panic of 350. So now I have two payday loans which I am having to renew each month just as I can't pay the full amount and CC's with overdue balances that I can't pay along with the bills for my flat now. I am also now a month behind with my bills and rent as well as having a tenancy renewal fee to pay.

I have a total of £1600 to go out next week and only £950 coming in.
I was thinking of taking out a consolidation loan as I need to take quick action but I'm being told by these companies that I won't be able to get one, either because of my credit rating or because my total debt is not large enough and that a debt management programme is the best solution. I really don't know what to do and I need a quick solution. Is a DMP the best thing for me?

debtfreewish_2

hi I have been in touch with a company dealing with DMPs and IVAs and they have said I would be eligible for both. I would prefer a DMP and think this is the best way of clearing my debt but I'm aware this company may not be the best to go with due to the profit they make which extends the time it will take to pay off my debt.

I have been told it should take 6 years to clear the debt my only concern is that I may be emigrating in 2 years time.
My question is if I do need to emigrate will I still be able to pay off my debts using a DMP while I'm living abroad? Ideally I'd like to pay the debts off before emigrating but if this is not possible I would like to continue to pay them off via the DMP.

If I do emigrate I will still have ties with the UK and a UK bank account. I may even rent my house out here unless I later find I need to sell.
Many thanks for your time.

CCCS_Sarah

bobpitbull wrote: »

So... it's now very close to my payday... my bank account has a £1000 overdraft with a £500 "reserve"... in past months I've been dipping into that reserve (and incurring bank fees for doing so)... what I'm wondering is... if I'm to transfer my money out of the bank account into my new one, do I then just manually call up the mortgage company and utility companies in order to make one-off (full) payments to them?

I don't see a good way to do this transfer smoothly without causing potential problems... there will surely be a 5 day (at least) delay while making the transfer...

Anyone got any advice on the best way to handle the transition from one account to another?

Hi Bobpitbull,

Do you have enough income to cover your priority bills i.e. mortgage, council tax, food, utilities?

If so once you have opened your new account, arrange for your wages to be paid into that account and then you would be able to set up a direct debit to pay these.

With regards your unsecured creditors, you would be able to offer reduced payments based on these. How much would depend on your budget.

If you would like any help completing a budget. We do have a free 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.

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.

Regards,
Sarah

CCCS_Sarah

bobpitbull wrote: »

Apologies, I didn't explain myself well... I'm moving onto a DMP, hopefully on June 1st... I'd just like to make sure that all my "essential" bills are paid this month while the CC's etc go onto reduced payments ASAP... my pay would go in on or around the 16th and most of my DDs for mortgage, CCs etc are set for the 7 days following that...

I'm not sure how much I can transfer out of my account, whether I should transfer up to my maximum £1000 overdraft or not?

Hello,

Sorry just noticed this message. I would recommend that you transfer the full amount. This will ensure you have enough for your living costs.

Sarah

CCCS_Sarah

callywally wrote: »

Hello,
I need some advice please. I am on a dmp. one creditor has not exepted and have written to me asking me to pay the arrears or increase my repayment or pay a reduced lump sum. sadly am not in a position to do any of. they say they will transfer dept to a dept collection agency if i dont do any thing.

Should I just keep paying through dmp or should I contact them.

any advice please.

Hello,

This is a standard collection letter, so try not to worry. Continue with your dmp payments, and if they do transfer the debt to a collection agency let your dmp provider know and they will change who they are paying for you.

Sarah

CCCS_Sarah

Living_in_hope wrote: »

Hi Amanda,

Thanks for your advise, I will get the letter sent out immediately. My DMP is Payplan who do not charge so hopefully they will negotiate with them.

The problem is HSBC are loading up the debt with new charges, I just think it is so wrong that they are allowed to do this.

Kind regards,

Lisa

Hello,

Ask payplan to send them a letter explaining that there have been no changes in your circumstances and see if they will reconsider.

Unfortunately as a dmp is an informal agreement there is no way of making them stop the interest and charges.

Sarah

harrisc0

Hi - stupid question I know but..... we are just writing out our 9!!!! letters to creditors that CCCS have send us to send out and am just stuck really with box 6 the reason why. Does pure stupidty count as a reason and overspending and living?! That is what got us into this mess in the first place, me losing a high paid job and us setting up a family who are now 5 and 2 and me working only part time and paying huge nursery costs and a house that needed work doing to it!

So my question is what should I write in the reason box?

Also, sorry, 2 debts are with banks Alliance and Leicester and Barclays - we have opened another bank account with Abbey and received cards etc and made arrangements for all bills etc and wages to go into there and out of there from this month, BUT the new bank account is part of the Santender Group which is who Alliance and Leicester are with - will this matter? Don't think our work would be too impressed if we submitted another change of bank details. Is it really going to matter if our new banking is with Abbey can they really let A&L take our money to pay off their overdraft bill, our A&L is £950 overdraft and Barclays is £2,080 which we are adding to out DMP.

Thanks

stickman

Hi All,
Advice needed desperately please. On DMP with cccs for last 2 years.
Total debt outstanding 48k on original debt of 45k. So as you can see interest on all mydebts has not been frozen and as such debt increased.At this rate Iwill be old and grey before paying it all off. Anyone out there that's had their interest frozen, and how to go about it?
So desperate,even thought of taking second charge on house with mortgage provider and try for full and final settlement figure failing that pay off in full. Want to pay my dues but can't go on forever like this need to see some light at the end of the tunnel.
If they did freeze int I could possibly increase payments a little more and clear total debt in 5 years that way they would get more than a full and final settlement, ssems crazy not to.