Ask a CCCS counsellor a question

LolaCola_2

Hi,

I wonder if you could give me some advice please? I have started my DMP and made my first payment to CCCS on September 1st. One of my creditors, who had accepted the offer of a reduced payment, has now sent me a red letter asking that it be paid by the 21st of Sept otherwise they will terminate my payment agreement automatically. I realise you do not pay creditors until the 25th of the month, so should I contact my creditor myself and explain this to them? I don't want it to be cancelled before I've even started? Also I have not heard anything from my biggest creditor (apart from constant call centre calls like 5 times per day which i have ignored) so what happens here? Do you continue to send them my payment regardless?
Many thanks for your help :-)

CCCS_Sarah

LolaCola wrote: »

Hi,

I wonder if you could give me some advice please? I have started my DMP and made my first payment to CCCS on September 1st. One of my creditors, who had accepted the offer of a reduced payment, has now sent me a red letter asking that it be paid by the 21st of Sept otherwise they will terminate my payment agreement automatically. I realise you do not pay creditors until the 25th of the month, so should I contact my creditor myself and explain this to them? I don't want it to be cancelled before I've even started? Also I have not heard anything from my biggest creditor (apart from constant call centre calls like 5 times per day which i have ignored) so what happens here? Do you continue to send them my payment regardless?
Many thanks for your help :-)

Hello,

This is just a standard collections letter, nothing to be worried about. Basically the system recognises that a payment has not been made and generates a letter. With regards the date we send payments, all of your creditors are aware of this and know when to expect the payments.

Just continue making your payments via the dmp as you have been doing.

Sarah

sarahb7538

Hi

How long does it normally take to hear from the CCCS once you have forwarded all the info they need?

Thanks

aodhansmum

Coownership Re-mortgage with bad credit
Hi

I am in serious need of some advice. I bought my house in Feb 2008 for 195,000 as part of the shared ownership scheme. I got a 100% mortgage on my share of 40% of the property (£78000). The house is no longer worth this amount. We'll now be coming to the end of our fixed rate and the rate will go up to something like 7.5%. Although we do not necessarily need to remortgage, I'm afraid that we will not be able to afford the payments when they go up.

We also started a DMP with payplan about 6 months ago which means my credit score has dropped from 900 to 250. I realise that that alone will prevent us from getting another mortgage but what I want to find out is what my next step should be. I think I have another 6 months or so before the deal ends and I'm hoping my credit rating will have improved by then.

Should I get the property revalued now by coownership? I'm a bit clueless when it comes to mortgages and deposits. When the property is valued is the deposit the % of the value of the property or the mortgage that we need? (as we only own 40%)

Any advice would be appreciated. I know I'm in a ridiculous situation with my debt but that's why we started the dmp to make a conscious effort to get rid of it once and for all.

wendiwobble

Hi there
I really need some advice if you could help me
I would be ever so grateful.
My other half left me last yr. The mortgage was on repayment interest only (so it was cheaper due to the fact we'd had a baby and I went back to work only part time). We'd just had a mortgage payment holiday ( maternity).
I sold my house to buy this one with him. I paid the deposit. I paid him 25k to pay off his debts so we could start again. I also paid 11k towards his car, and house improvements. I have no money left apart from
I have three ISA's each with £50 in them.
The mortgage has 16 and half years remaining. There is an unsecured loan attached as it is a Northern Rock mortgage this has a different arrangement. My ex is getting married this November - he has not paid towards the mortgage since MARCH. He is also being very evasive with the CSA.
I have been makinghalf the payments for the mortgage since April 1st. My arrangement comes to an end in two months. They will not allow me to have any more time. I will have to move out with my daughter I feel before Christmas.
I intend to go back North to be near my parents in my home town. I have no family and few friends here to stay. I do have my job which I shall also have to hand in my notice.
The house is worth £100k, the mortgage is £125. The unsecured loan on top is £29
I have £6k on my credit card
I believe bankruptcy is the best option as I do not see why I should pay again (he has had enough money from me, when the shortfall from the house is assessed it will be as a JOINT loan - if he dies in the future - I will cop for the lot and be financially tied to him for life!!!! I see repossession is imminent?)
IS bankruptcy my best option?
Do I sell all my furniture on ebay?? and possessions??
I have been advised to go bankrupt after I move, I WILL NEED MY EX'S permission to hand in the keys (voluntary surrender). If he does not agree I shall send him the keys and tell him the house is his problem!
CAB told me to do this months ago (FEB)
The local council would not house me due to me making myself homeless.
If I go bankrupt what are the implications? Will my bank allow me to keep the ISA's?
Will i be able to continue to use ebay?
Can I get a sky subscription?
Can I get a pay as you go broadband dongle?
I am truly scared and the thought of living in my mum's spare room (she does not really want us there and neither does her partner- my dad's house is overcrowded - 9 living in a 3 bedroom house)
If you could advise me I would be so grateful

Thanks
Wendi

HelpToBeDebtFree

I'm thinking of doing a DMP through CCCS, but I've got a couple of quick questions...

I'm employed and most of the debt is in my name, but my wife has also built up some debt in her name. She is self-employed (a director of a Ltd. Company), can we do a joint DMP and lump all of debts together? Will this affect her ability to be a company director?

Also, one of our loans is with Zopa and we recently missed a payment. They were very quick to threaten legal action and said that if we were late paying again then they would pass the debt onto a debt collection agency for the full amount plus charges!

And my final question is, we can just about afford the outgoings, but when some unexpected expense crops up we miss payments. Would a DMP last the full 6 years the CCCS website says it will take to pay off our loans?

Thanks!

emmington_2

Dear CCCS,

I took out car finance last year when I was in my I must spend as much money as I can mode. I bought the car which was 11000 (aprx). I traded in my old car for £2000. This made the credit agreement of £9000. Anyway after having had the 'my eyes are bigger than my wallet' syndrome the car unfortunately got reposessed after me having made approximately 3 payments of £350 PCM and about 2 months of missed payments. I realise now that this was a very very stupid situation to get in to.

Anyway after about 6 months the car company finally came back to me and stated that they had sold the car for £7500 at auction and so I owe them £6500. I was, as you can imagine, baffled by this figure as the original agreement was for £9000. I have been paying them £50 PCM for the last few months with the intention of sorting out exactly how much I owe them. They did say that I could settle the accound if I paid them £3000 now. As you can imagine I dont have £3000 going spare in my bank account.

But surely, if £3000 can settle the account now, then £3000 can settle the account in the long run with smaller payments?

Any guidance on the best people to speak to in this matter would be greatly appreciated.

Emmington :rolleyes:

sunnymoneytree

Hope you can help …I’m desperately confused about the best decision.
Things keep going wrong causing a lot of problems, e.g my computer finally dying…don’t know what I can do there as need one for Uni. Have been trying for months to sort out my debt and the stress is crushing me. Didn’t know about the help on here until recently unfortunately , and CAB here is very busy….so first contacted them in March, got appointment a month later in April, then we were heading for a Debt Relief Order so letters with my financial status went out and now I have an appointment tomorrow (Tuesday 8th Sept) when we were going to put in for the DRO.
But in the meantime I’ve been swinging wildly between the possibility of maybe paying back the money due to Gerrold Mundis’s book ‘How To Get Out of Debt….etc.’, or rejecting the idea due to seeing people on here with growing debts due to interest…and the stress that causes when they’re on a DMP trying their best.
ALSO, my mother who knows nothing of my situation (£9653.20 owed to 3 credit cards and 2 banks)…recently asked me to begin repaying my debt to her as she is on a widow’s pension and basically needs it (£8060.00 from course fees when I couldn’t get a grant as a mature student, and a previous credit card debt combined). I have paid one month that she asked for, £22.
I was expecting this debt to be on the sidelines for a long while longer, so mentioned it to my CAB lady but asked for it to be considered totally separate.
So now I am thinking should I organise some sort of debt repayment plan…but how do I include my mother’s debt??!! when I didn’t put it in before? …aarg. And how can I possibly reduce the amount I pay to her when she really needs it, tho’ it is hard for me to pay. The other creditors would object?
Help help help. I don’t know if I can handle telling mum I can’t afford to pay her this much…and why…She already understandably has a low opinion of me in this respect and makes it clear.
Also am so overwhelmed with how to submit accurate figures for an SOA, hence none here, as my income fluctuates wildly. Did a financial statement with the CAB as taken over the whole year but even now this has changed as my seasonal wage just dropped by half, and I may be needing glasses, and have had some mad allergy with expensive prescriptions needed! Aaarg again! And if I apply for some help thru funding at Uni to help with getting a new laptop how would I write that in?

Sorry about all the questions, hope you can make some sort of sense of it…I would so love to feel clearer in my head by tomorrow’s appointment. Part of the reason I wanted the DRO was that my course is really intense and I’m scared of not keeping track of events and correspondence with all my creditors. But would it prevent me bettering myself/my earnings due to the £50 ceiling on surplus earnings?
Thanks if anyone replies to this.

p.s. I’m 100% aware of everything I’ve done to create this situation, in spite of a relationship and break up causing a lot of the problems. I now keep a spending record and have not used any of my creditors accounts since my CAB meeting, and I have a new account with HSBC with no overdraft facility.

pps. last week my wages were paid by cheque without warning as opposed to the usual paying in slip method. and my account DID go overdrawn due to direct debits and the fact that I have no cushion as yet....aaarg..think I'll get charged even tho' I rang as soon as I found out...aaarg!

sudi

Can you please tell me, if I apply for DMP online, do I need to speak to anyone on the telephone or can it all be done online?

Thank you

munkiemunkie81

Hi

I'm going through a separation with my husband and he's been very lovely and humped all the debt on my shoulders leaving him a cushy £1000 a month to spend on whatever he pleases and me and our child with £80 before food and rent because he insisted that he got to keep the house because he can afford it - of course he can while i'm still paying half the mortgage!

Anyhoo, I have carried out the debt remedy online with you guys, got my welcome pack, my budget etc but have a few questions.

I have prepared all my letters to creditors and have made a start on the package for CCCS.

However some debts are still in my maiden name and at my house address rather than where i am staying now. Will this cause a problem?

Also I do not have all statements available - but have requested them from creditors with a change of address letter. Can i send you what i do have now for you to make a start. I need the DMP to start on October the 1st because otherwise everything is going to go BOUNCE including mortgage and I dont want to go down that road!
Have I got enough time to make that happen??

Can you advise suitable places to open a new basic account - I tried Yorkshire bank but they cant see me for a week and I need to send my current account the DMP letter due to an overdraft and loan with them. Obviously i want to make sure my D/D come out as planned before they put a hold on my overdraft which i am living in permanently because my husband cleared it out and then opened his own account! There is still Childcare payment and a few bills to come out that need to come out. I do not have the additional money to send 'token payments' Hence my needing to pay this months as planned and then start the DMP in October sending you the 1st Month.

Does that make sense? I have a feeling I have rambled considerably!

Blumming typical I have to go through all of this to stay afloat when my cheating lying husband being the main cause of it all (excluding my stupidity!) and he ends up rolling in roses!!

Editing to say thank you thank you thank you to anyone who responds!