Ask a CCCS counsellor a question

ronnie_2

Hello,

Due to unforseen circumstances I had been off work for 6 months however still managed to service loans/cards etc However last month I simply ran out of money!!

Due to a mix up in my workplace the SSP was being claimed by my company to clear 2 months they paid me a salary when they shouldnt have. Therefore I had no income.

In July I have not had funds to pay for two loans, egg/Lloyds. I have not heard from Lloyds yet however Egg after talking with them yesterday didnt really offer me much assistance.

Monthly loan is £270 I offered what I can which is an additional £30 on top of the loan payment till I am clear starting from this month (Getting a salary) however Egg told me I MUST repay this debt within 6 months, told them I dont have the nessecary funds to acheive this and £30 is all I can afford. Egg then said since I cant agree a repayment with them they will pass the debt onto a debt agency!!

Is this correct for one missed payment that I am offering to pay back?

I am hoping Lloyds allow me to repay an additional amount but I am scared to phone them till Ive dealt with Egg

londonfraggle

Hi - I hope someone can help me!!

I need, for obvious reasons, to set up a basic bank account before I can start any DMP or other debt solution (as some of my creditors form part of the same group as my bank - who I have an overdraft with anyway!).

I called co-op and was "convinced" to apply for a current account, which surprise surprise I was refused for! I then reiterated that I just wanted a basic cashminder account, he then said it had been referred for a decision. He did say this was quite common and that I should hear in a couple of days, but I'm now having a big panic as if I can't even get a basic bank account I don't know how I'll even start on this road!!

Does anyone have any advice or ideas on a) what this means and b) if I can't even get a cashminder account with Co-Op are there any other accounts out there that would touch me or am I scuppered.

I don't really know what to do now as I know that without opening a new bank account I can't move my salary etc to another account to pay priority bills etc.

Help anyone??!

A very worried Fraggle x

PS - will also post this on a few other threads as am really quite hoping for some advice so apologies any of you seeing this more than once!

mozzyc

Goodtimesahead wrote: »

mozzyc> When did you take out your credit card agreement?

HI Goodtimesahead

Its a loan with Lloyds, not a credit card. The loan was taken out 2003.
Thanks

lilfoxy

INTEREST CONTINUES TO BE CHARGED _ HELP!!
New to this so will someone please point in wrong direction.
I have a DMP with CCCS- they are fantastic by the way! There is light at end of tunnel folks. Had debt of £34K remaining balance is £13k approx since 1995.
Can you please help though. I have a creditor that is still charging interest, they took myself and my hubby to Court but were turned down fror the charging order as I had continued to pay at least half of the original loan repayment. Do you know of a way to stop interest on this loan as the existing loan was approx £4K and I am going to end up paying in the region of £15K plus!
Thank you in advance!

Debthelp79

Hi CCCS team,

and repeating many other posters who have used this for a first time - Thank you for such a useful, and in many cases, essential service.

I am in currently in aprox 35k of debt over 5 creditors (1 x loan, 3 x CC and my parents- this is excl my mortgage) and contacted a financial help company for advice.
As part of the money was being paid to my parents they recommended I should start an Informal agreement with the other creditors.
I started the process and was about to send the relevant letters but my parents have since said they are willing/able to remove more savings to help me.
It will leave me short by nearly 10k against the creditors and I cannot afford to pay both my parents and the creditors, and this actually got me into the original spiral of debt.
I have heard (only via a friend) that I can make an offer to the creditors to clear a final one-off payment at a percentage of what I owe.

Is this true?
If it is, and they agreed, would it affect my credit rating in the future?
And, would i contact them to see what they would accept or would i just make an offer explaining circumstance?

I am also waiting to hear from the financial company, but only heard news today and thought i would ask.

Many thanks,

missslc

hi CCCS team
please help me! I am in the process of getting my paperwork together for an IVA. I have received a letter from Natwest saying if i dont pay £15k in 14 days they will issue a CCJ. How does this stand with the IVA? I am aware that the IVA wont be set up before the 14 days? I hate being chased all the time I am trying!!! thank you x

missslc

londonfraggle wrote: »

Hi - I hope someone can help me!!

I need, for obvious reasons, to set up a basic bank account before I can start any DMP or other debt solution (as some of my creditors form part of the same group as my bank - who I have an overdraft with anyway!).

I called co-op and was "convinced" to apply for a current account, which surprise surprise I was refused for! I then reiterated that I just wanted a basic cashminder account, he then said it had been referred for a decision. He did say this was quite common and that I should hear in a couple of days, but I'm now having a big panic as if I can't even get a basic bank account I don't know how I'll even start on this road!!

Does anyone have any advice or ideas on a) what this means and b) if I can't even get a cashminder account with Co-Op are there any other accounts out there that would touch me or am I scuppered.

I don't really know what to do now as I know that without opening a new bank account I can't move my salary etc to another account to pay priority bills etc.

Help anyone??!

A very worried Fraggle x

PS - will also post this on a few other threads as am really quite hoping for some advice so apologies any of you seeing this more than once!

Fraggle - Go online to Bank of Scotland (part of halifax) they gave me an account (easy cash) which has no credit facilities but the card has Visa Electron so makes it easier to pay for things. The important thing to remember is to tell the bank you only want a basic account justfor DD and taking cash from. You will have to be quite firm! Barclays also do a cashcard account for people with bad credit. hope this help xx

missslc

Debthelp79 wrote: »

Hi CCCS team,

and repeating many other posters who have used this for a first time - Thank you for such a useful, and in many cases, essential service.

I am in currently in aprox 35k of debt over 5 creditors (1 x loan, 3 x CC and my parents- this is excl my mortgage) and contacted a financial help company for advice.
As part of the money was being paid to my parents they recommended I should start an Informal agreement with the other creditors.
I started the process and was about to send the relevant letters but my parents have since said they are willing/able to remove more savings to help me.
It will leave me short by nearly 10k against the creditors and I cannot afford to pay both my parents and the creditors, and this actually got me into the original spiral of debt.
I have heard (only via a friend) that I can make an offer to the creditors to clear a final one-off payment at a percentage of what I owe.

Is this true?
If it is, and they agreed, would it affect my credit rating in the future?
And, would i contact them to see what they would accept or would i just make an offer explaining circumstance?

I am also waiting to hear from the financial company, but only heard news today and thought i would ask.

Many thanks,

Hi There!
I have debt with natwest for £27k. They have told me that they will accept 15k to clear it. so yes it is true they will reduce it to clear balance. I had an alliance and leicester card a few yrs ago and i was told to ring them, tell them i had sold my car and could pay £250 off my £500 card to redeem it. they haggled but accepted in the end! So call them. If you are already behind with payments then i would say i'm very positive they will negotiate a lower payment x:T Oh and it shows as partial settlement on credit file - but still its settled and means the same as no loan o/s. - CCCS's hope i'm right with that!

debtmuncher

lilfoxy wrote: »

INTEREST CONTINUES TO BE CHARGED _ HELP!!
New to this so will someone please point in wrong direction.
I have a DMP with CCCS- they are fantastic by the way! There is light at end of tunnel folks. Had debt of £34K remaining balance is £13k approx since 1995.
Can you please help though. I have a creditor that is still charging interest, they took myself and my hubby to Court but were turned down fror the charging order as I had continued to pay at least half of the original loan repayment. Do you know of a way to stop interest on this loan as the existing loan was approx £4K and I am going to end up paying in the region of £15K plus!
Thank you in advance!

we were in a similar sitution but pre dmp plan (cccs). it was with a company called paragon and we calulated at the time three years ago that we had paid and more of the original agreement so went to the citziens advice bureau who took the case on our behalf and got the account closed within two to three months. it was just never ending paying them so enough was enough!

CCCS_Sarah

sarahb7538 wrote: »

Thank you for your reply

I have one more question. My parents took out a loan for me to clear a very high interest rate loan i stupidly took out . I pay this back at £220 per month. It has been included as a priortity debt. Is it likely that my creditors will challenge this. ? I think that they probably will but there is no way i cannot pay this to them ( and i wouldnt want not to pay it either).

Hello,

As a general rule family loans would be treated as a priority, however your counsellor would also take into account the surplus available to the other debts and how long you have left to pay.

Sarah