Ask a CCCS counsellor a question

CCCS_Matthew

Sheri_P wrote: »

Hi, I'm a newbie to the board - I have a DMP arranged with help from the CCCS and it has been in place for 2 years, all going well.
I previously had a loan with Tesco PF and was told that I HAD to take out PPI, so feel I was mis-sold the PPI and want to claim it back.
However, I am a bit reluctant to contact Tesco PF as I am paying them back under the DMP with no interest and am worried that if I attempt to reclaim the PPI back, they may withdraw from our agreement.
Any suggestions please?
Thank you.

Hello Sheri.

If Tesco withdrew from the agreement, they would still be paid the amount you can afford via the DMP regardless. If they did withdraw it's likely that they may decide no longer to suspend the interest on the account.

Having said that, there is nothing to say that they will withdraw from the agreement just because you've tried to reclaim the PPI. If they are admitting the PPI was mis-sold, they should not hold the fact you have a DMP against you.

How much is the PPI in relation to the outstanding balance?

CCCS

CCCS_Matthew

c7sdus wrote: »

I have spoken to Lloyds and they have advised me that it is very unlikely that the interest will be frozen as that is what was agreed at start of DMP !!!

What other options would be open to me and how easy/difficult is it to end a DMP?

No DMP is legally binding, so if you do decide to end it you can walk away at any stage. My advice would be that if you are concerned that your creditors are not willing to suspend interest, you need to go back to Payplan to have a review of your situation to see if there is any other options available to clear your debts.

Alternatively, feel free to give us a call and we can discuss any possible options you would have based on your current financial situation.

Regards,
CCCS

mui7087

CCCS_Sarah wrote: »

Stand your ground! Sounds like you are doing a great job. The key is to stick to the reduced payments, as these are fair to all your creditors.

How long ago did you set up these reduced payments? If it is over 12 months, it might be worthwhile just sending an updated budget to keep them onside.

If you need help completing a new budget, we would be more that happy to help you put together a new one, you would just need to call for a new appointment.

Even if it gets to the three months and you don’t increase your payment and they say they are not accepting your reduced amount, sent it anyway!

Hope this helps a little

Sarah

Thank you for the information, what I read on this site certainly makes me feel a whole lot better. I appreciate all the advice I have seen from people in the same boat as me. I don't feel so alone now and know that I am not the only person with problems. Thank you again and keep up the good work
:A

c7sdus

CCCS_Sarah wrote: »

Hi C7,

It is a really tough situation, as there is no way of making the creditors stop the interest and charges and they are under no obligation to pay them back either.

As far as Payplan are concerned, I am unsure of their success rate. What I would suggest is, if the creditors do continue to apply the charges then this is just going to make the debt increase, so there may be other options that are available to you – so I would insist on a review of your account.

I have sent an e-mail to PP requesting that they ask TSB to reduce or freeze interest and if this is not possible could I get a review of my account as the interest seems to be spiralling out of control

bunnygreen

CCCS_Sarah wrote: »

Let me know how you get on with this, and call us if you have any problems.

I would suggest that you set it up a couple of days early to be on the safe side as it may take them a couple of days to apply it to your account.

Sarah

Thanks Sarah, NR phoned us up today to ask us about the situation we are in. They spoke to my husband first and offered us to pay interest only on our mortgage to help - but that only saves £60 a month - not really any good to us. They said they had tried to contact CCCS but because we were so new, they couldn't talk to NR about our case yet. Anyway, my husband explained that it was me that is sorting it all out so the lady he spoke to asked if I could call back.

I phoned them and they were concerned about two things. The first thing was that we could pay the mortgage. I explained we were fine for the mortgage part - that was a problem. They seemed happy about that and said they'd send us a standing order form to help us set that up.

Then they wanted to know if CCCS were going to be making an offer of payment on our behalf. I confirmed they would, but that as this is the first week where all the paperwork is being sorted, they are just preparing it all and contact will be made soon (hope that's right!!?).

They pretty much seemed happy with that. I mean I know it's early days and they didn't say they would accept anything, but they seemed pleased that we were paying the mortgage and that an offer of payment will be sent. We have been dreading the phone calls, but this first one (the one we have worried about the most!) has been ok!

So, just wondering now when will CCCS write to our creditors? We sent our paperwork off on Saturday and I spoke to CCCS on Monday and although the line was really bad, I am pretty sure they said they'd received our signed agreement.

Thanks again!!

NoMoreTears

May I ask a question re IVA's please?

My situation is that I would not be suitable for a standard IVA as I do not have spare income (negative in fact), but I have read somewhere about "lump sum" IVA's.

From what I understand, you go through the standard process of asking your creditors to accept your IVA proposal, but then pay one lump sum to them and that's it (assuming they agree of course).

Can you confirm my thoughts are correct, and if so, would they still be likely to accept a lump sum of 25% of money owed, bearing in mind that if they say "no" the only other option for us is bankruptcy, and they are unlikely to receive anything?

One last point (sorry!), is it possible to negotiate a lump sum IVA where the lump sum is paid at the end of the five year period, and during the five years all interest is stopped? I know that sounds cheeky, but our situation is that we would not be in this amount of trouble if our house would sell at the valued amount (realistically fallen by a third in value - and that third roughly matches the money we owe - aarrrggghhh!), so if they were to accept a deferred lump sum payment we could almost certainly do this once the housing market recovered in our area back to where is was a year ago.

Thanks for you help on these questions.

Martin

lordsnooty01

Apologies, but here we go with my 1st BUMP :j lol

Ok guys, firstly what a great resource:beer:

Secondly, I have actually stumbled on this resource quite late in the day, but hopefully all is not lost

I have recently been contacted by a debt agency who are making claim to an aged debt from a bank (2003 - when taken out). The original amount borrowed was approx £18k for consolodation purposes.

I am seeking some guidance as to how I should proceed.

I have requested the CCA as per another Google search before I stumbled on this site. This was carried out on the 23 September 2008. No futher communication was sent.

I have since received a copy of the CCA, received yesterday, which by my reckoning is some 6 weeks after my request and well ove the 30+2 days.

The CCA does have my signature, but is in the following format:

1st page: Limited T&C's - my signature / their signatory
2nd and 3rd pages: Other T&C's.

The amount claimed by the debt company is approx £29k. I am shocked at the amount as I had made a number of payments to the bank of the agreed amount and then due to circumstances at the time, reduced the amount to £100 per month with frozen interest.

Additionally, I have joined credit expert (otherwise have an impecabble record) and I can see the entry of default against me for £14k ??????

Question is, how can they be pursuing me for double the amount of the entry?

Also, what should my next move be considering the CCA request and late receiving of said CCA and the fact the amount does not reconcile with the entry on my credit file??

I should add I have not admitted any liability or acceptance of this debt to date. My account with the debt agency is on hold for 14 days.

Any ideas??? I am willing to clear the amount, but not to the tune of double the amount. I have requested an account statement, instead I was sent utter dribble.

Any guidance would be appreciated.

worried_bear

CCCS_Sarah wrote: »

Is this a standard letter or County Court claim forms (Blue and White forms)?

If it is just a standard letter, continue paying what you can afford i.e. the £100. Have you sent them a financial statement? If not, look at putting one together and post this off to them to back up your amount.

If it is a County Court claim form, complete them and send them back as soon as possible with your income and expenditure – PM me for more details.

If you are paying £100 per month, this is going to take you quite a lot of time to clear the debts, so you may want to look at ways of increasing your income to get the debt cleared quicker. If there is no way you can increase your income, then you may be better calling for an appointment to see if there is a better solution for you.

If you would like an appointment please call 0800 138 1111.

Sarah

Thanks for the reply Sarah. Halifax have sent me a statement showing the full amount to be paid by 14th November. I have been paying Robinson Way a monthly figure and have just (yesterday) increased this to £110. Is it better to contact Halifax and set up a monthly amount or keep paying via this debt agency. They ring me every couple of months and are quite heavy sometimes with their phone calls with me increasing the standing order.


thanks for your advice everyone

Boonsie

Hello

I have just completed my Dept remedy with CCCS and they have suggested an IVA solution for me or a "low start DMP", I have filled in my Contact details for them to contact me, how long will it be before they call me?

Before I read about CCCS I contacted a firm called Bains & Ernst about my dept and they have also suggested an IVA, they seem desperate to sign me up and I am very nervous about them!

Should I wait and talk to the CCCS about my IVA

thanks

CCCS_Matthew

lordsnooty01 wrote: »

Ok guys, firstly what a great resource

Secondly, I have actually stumbled on this resource quite late in the day, but hopefully all is not lost

I have recently been contacted by a debt agency who are making claim to an aged debt from a bank (2003 - when taken out). The original amount borrowed was approx £18k for consolodation purposes.

I am seeking some guidance as to how I should proceed.

I have requested the CCA as per another Google search before I stumbled on this site. This was carried out on the 23 September 2008. No futher communication was sent.

I have since received a copy of the CCA, received yesterday, which by my reckoning is some 6 weeks after my request and well ove the 30+2 days.

The CCA does have my signature, but is in the following format:

1st page: Limited T&C's - my signature / their signatory
2nd and 3rd pages: Other T&C's.

The amount claimed by the debt company is approx £29k. I am shocked at the amount as I had made a number of payments to the bank of the agreed amount and then due to circumstances at the time, reduced the amount to £100 per month with frozen interest.

Additionally, I have joined credit expert (otherwise have an impecabble record) and I can see the entry of default against me for £14k ??????

Question is, how can they be pursuing me for double the amount of the entry?

Also, what should my next move be considering the CCA request and late receiving of said CCA and the fact the amount does not reconcile with the entry on my credit file??

I should add I have not admitted any liability or acceptance of this debt to date. My account with the debt agency is on hold for 14 days.

Any ideas??? I am willing to clear the amount, but not to the tune of double the amount. I have requested an account statement, instead I was sent utter dribble.

Any guidance would be appreciated.

Hi there, sorry to take so long to get back to you. We’re very busy at the moment!

Reading through your post, there seems to be a lot going on with this debt. As far as the CCA request is concerned, the fact that they’ve got back to you a little late doesn’t really make too much of a difference, as you’ve mentioned in your post that you admit the debt is yours (although the balance of the debt is in dispute).

It’s difficult to see how they got to the £29k considering the default was for £14k. Do you know what you borrowed in the first place? I must stress that although you made an agreement to pay a set amount back with them stopping interest, is not legally binding so it’s likely that at some stage they started adding on interest and charges again.

If you’re happy to clear the debt for £14k your best bet is to approach them to make a settlement offer, asking them to consider accepting a lump sum payment and write off the remainder of the balance. If this is something that you are considering, send me a PM and I’ll provide you with a template letter to use.

Regards,
CCCS