Ask a CCCS counsellor a question

junispy

You need to continue to pay the amount that was offered to them as once they have banked the money then the agreement is set.

They have to actually return the money to you in order to not accept the offer

CCCS_Sue

Brandy29 wrote: »

Hi counsellors,
we're on a dmp with you and seen a house we'd like to buy which is less than the value of the house we own at the moment. In order to buy this new house we would need to use the equity in our current house to pay the fees, deposit and the leftover sum to update the house new house as it is really rather shabby.
In theory would this be acceptable?
Thankyou

Hi and thank you for your email

I would recommend that you ring our support counsellors and explain your situation to them but moving house should be fine.
We will need to review your situation and update your budget with your new outgoings.
It would also help your debt situation if you could offer a lump sum payment towards your debts from any equity that was left after paying any priority costs .

Regards
CCCS Sue

strawberry_shortcake

My partner and i are seriously considering doing a DMP, however i have a question:
As our reduced payments would not include my current account, would i still be able to keep my debit card?

CCCS_Sarah

graduategeo wrote: »

Hi Matthew. The loan was taken out in the UK.

Hello,

Thank you for your post.

I’m not 100% sure, but if it is a finance company then they should be regulated by the Financial Services Authority (FSA). You may wish to contact them direct and see if they hold any details on the company.

Sarah

CCCS_Sarah

scruffypet wrote: »

At the moment I am managing my owm DMP with the help of the CAB.Iwroteto all my creditors last nov explaining the situation, i enclosed all the appropiate paperwork ( SOA) as well as my pro rata offer. Overthe next couple of months all agreed to my payment plan with the exception of Cahoot. I have written to them every month explaining my situation and asking them to reconsider my offer, i have also been paying the amount i offered each month. They have continually refused my offer and have continued to put interest and charges on my account. I wanted to know if this is a situation where I could contact the Financial Ombudsman as Cahoot do not appear to want to try and help me.

Hello,

Thank you for your message.

Unfortunately Cahoot do not have to accept the offer and can continue to charge interest on the account. You are doing the right thing by still making the payments. Stick to your guns!

Have they given you any reasons why they are not accepting your offer? Are there any costs that they could deem as high in your budget?

Sarah

CCCS_Sarah

strawberry_shortcake wrote: »

My partner and i are seriously considering doing a DMP, however i have a question:
As our reduced payments would not include my current account, would i still be able to keep my debit card?

Hello,

Thank you for your message.

If you have any debts at all with your bank we would recommend that you change banks, to a bank where you have no debts. For example even if you don’t have an overdraft but you have a loan, the bank may still try and take the payment from your account creating a forced overdraft.

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

I have attached this link to a booklet that lists different basic bank accounts; there is some banks that will allow you to have a debit card.

Hope this helps
Sarah

strawberry_shortcake

Thanks Sarah, i bank with LLoyds TSB and have no debts with them, so would i be able to keep my debit card do you know?

CCCS_Sarah

strawberry_shortcake wrote: »

Thanks Sarah, i bank with LLoyds TSB and have no debts with them, so would i be able to keep my debit card do you know?

Should be fine if you have no debts with them

jacktom_2

Thanks for this Wendy. i really like it

Sylvvia

Dear counsellors,

I'm really not into all this staff but try to help my boyfriend with the debts he has. He claims he went to Citizens Advice Bureau about half a year ago or so and believes that all his credit cards debts and others are frozen.
Yet, as we received the statements from one of the credit cards provider it turned out not to be frozen and the amount he has to pay is about £5,500. There are also other credit cards but of these I'm or him are not sure-waiting for the statements to be posted.

My question is, how do we deal with that debt on that credit card? I was reading about shifting the debt (as they charge him ca £105 per month). Would that be the best option? And also, when do we close the account? After we've shifted the debt or before? Sorry, if my question doesn't make sense.. I'm a newbie in these matters-just trying to help.

Thank you in advance for your answer.