Ask a CCCS counsellor a question

icecube2009

CCCS_Matthew wrote: »

Hi Wayne.

Whether your creditors accept the DMP is a difficult question to answer. If your expenditure is considered reasonable by the creditors and they feel the timescale of the DMP is fair then you've got a chance. If any creditors reject the proposal we'll still send the money regardless so it will still go ahead.

Just to add in - You only risk losing your house on an IVA if you fail to meet the payments. Although most IVA proposals will include a clause that you must consider remortgaging in the 4th year, you won't be made to sell the house. If you want someone to discuss things further with you feel free to give us a call.

Matthew.

I didnt realise you could go on an iva if you owned a house, thats why we went on a dmp, but we are really struggling. My biggets fear of all is loosing my childrens home. Would I maybe better on an iva?

imatt

Hi,

I am in a bit of a pickle. I owe 3 creditors! Natwest (OD £670), and 2 credit card companies (£833) and (£1300) respectively, now passed into the hands of collection agencies. The thing is that I have started making token payments but am still getting letters from the two collction agencies. Should I:

a) Continue to make token payments.

b) Make bigger payments

c) Appy for a Debt relief Order

CCCS have bben great. I did contact my local CAB initially. However, the chap I saw mentioned nothing about token payments or the fact that they could not sends baliffs round, which is why I value the advice from CCCS. I am somewhat perplexed as I do not want hassle from creditors. A DRO seems the logical answer. However, it could screw up my credit rating. That said CCCS, told me this may have happened already. I do not know which option to take...HELP!!!!!!!!!!!!!!!!!!

simo63

CCCS_Matthew wrote: »

Hi there.

In answer to your questions...

1) If you're not sure how to sum things up within a few words we tend to suggest "overcommited on credit" which pretty much suggests you perhaps you bit off a little more than you could chew.

2) You'll need to change your payment to Northern Rock to represent just the payment for the mortgage. We have a template letter you can use for people on DMP's with a together mortgage. You can call us so we can send it out, or if it helps, PM me with your email address and I can send it across.

3) You don't need to send your expenditure summary, we'll be sending this across with the DMP proposal once you send your bits back to us.

Hope this helps!
Matthew.

Hi
I also have a Northern Rock together mortgage and have the same problem, could i have a copy of the template letter tks.

biba_3

Up to the past 3 months I managed to repay the minimal amount of my two credit cards. I also have an Amex Charge card, and the outstanding balance is £11,100 which I have not managed to pay for the past 3 months.

Amex has passed my details to AIC deb collectors and they want me to pay ervrything by the end of the month. I offered a monthly repayment of £700 or 800, but would not hear any of it.
"You can ask your friends to lend you money"

The only positive thing is that I still have my job. I can't sleep and really struggle to show a brave face at work.

Here is my SOA.

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 2500
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2500
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 1100
Management charge (leasehold property).. 0
Council tax............................. 80
Electricity............................. 20
Gas..................................... 0
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 20
Mobile phone............................ 30
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 20
Groceries etc. ......................... 100
Clothing................................ 50
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 100
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1562

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
rbs credit card................4000......100.......28
amex credit card...............3700......100.......19
amex charge card...............11100.....0.........0
Total unsecured debts..........18800.....200.......-

Monthly Budget Summary
Total monthly income.................... 2,500
Expenses (including HP & secured debts). 1,562
Available for debt repayments........... 938
Monthly UNsecured debt repayments....... 200
Amount left after debt repayments....... 738
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -18,800
Net Assets.............................. -18,800

Please help me !

CCCS_Sarah

icecube2009 wrote: »

I didnt realise you could go on an iva if you owned a house, thats why we went on a dmp, but we are really struggling. My biggets fear of all is loosing my childrens home. Would I maybe better on an iva?

We wouldn’t be able to say via the forums if an IVA is a better option as we don’t have your full details. Are you a CCCS client? If so I would recommend that you give our client support department a call and they can review your budget. If you need the number send me a PM.

Sarah

CCCS_Sarah

imatt wrote: »

Hi,

I am in a bit of a pickle. I owe 3 creditors! Natwest (OD £670), and 2 credit card companies (£833) and (£1300) respectively, now passed into the hands of collection agencies. The thing is that I have started making token payments but am still getting letters from the two collction agencies. Should I:

a) Continue to make token payments.

b) Make bigger payments

c) Appy for a Debt relief Order

CCCS have bben great. I did contact my local CAB initially. However, the chap I saw mentioned nothing about token payments or the fact that they could not sends baliffs round, which is why I value the advice from CCCS. I am somewhat perplexed as I do not want hassle from creditors. A DRO seems the logical answer. However, it could screw up my credit rating. That said CCCS, told me this may have happened already. I do not know which option to take...HELP!!!!!!!!!!!!!!!!!!

I would recommend that you continue with the token payments for the moment, unfortunately there is no way of stopping the letters however these sound like standard collection letters so nothing to be worried about.

Have you already had an appointment and was a DRO discussed?

Sarah

CCCS_Sarah

simo63 wrote: »

Hi
I also have a Northern Rock together mortgage and have the same problem, could i have a copy of the template letter tks.

Hello,

This is the sample letter; however I would recommend that you call us for more information on how to use it as it’s important that NR separate the accounts properly to ensure that the payments are applied to the correct account. This will make sure your mortgage is kept up to date.

The letter is designed for CCCS clients that have taken advice, so if you are not a client you will need to discuss this with us so we can offer advice on what to write and what to do with your unsecured debts.

Hope this helps
Sarah

Example letter – Northern Rock together mortgage

From:
Name:
Address:
Postcode:
Date:
CCCS Client No:
To:
Creditor’s Name:
Mortgage Account No:
Unsecured Loan No:
Dear Sir/Madam
Please be aware that I am currently suffering financial difficulties. In an attempt to deal with my situation I have approached Consumer Credit Counselling Service. They have advised me on an action plan to deal with my unsecured debts.
I am therefore intending to pay my mortgage [secured loan] payment separate to my unsecured loan. I will be paying this in by Standing Order. Please ensure that the funds paid to my mortgage account are applied correctly. This way my mortgage account will not fall into arrears.
This payment is effective from (date).
I shall be contacting you separately regarding payments to my unsecured loan.
Please acknowledge receipt of this letter, sent by recorded delivery, within 14 days.
Yours faithfully
(Signature)
(Print name)

CCCS_Sarah

biba wrote: »

Up to the past 3 months I managed to repay the minimal amount of my two credit cards. I also have an Amex Charge card, and the outstanding balance is £11,100 which I have not managed to pay for the past 3 months.

Amex has passed my details to AIC deb collectors and they want me to pay ervrything by the end of the month. I offered a monthly repayment of £700 or 800, but would not hear any of it.
"You can ask your friends to lend you money"

The only positive thing is that I still have my job. I can't sleep and really struggle to show a brave face at work.

Here is my SOA.

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 2500
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2500
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 1100
Management charge (leasehold property).. 0
Council tax............................. 80
Electricity............................. 20
Gas..................................... 0
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 20
Mobile phone............................ 30
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 20
Groceries etc. ......................... 100
Clothing................................ 50
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 100
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1562

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
rbs credit card................4000......100.......28
amex credit card...............3700......100.......19
amex charge card...............11100.....0.........0
Total unsecured debts..........18800.....200.......-

Monthly Budget Summary
Total monthly income.................... 2,500
Expenses (including HP & secured debts). 1,562
Available for debt repayments........... 938
Monthly UNsecured debt repayments....... 200
Amount left after debt repayments....... 738
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -18,800
Net Assets.............................. -18,800

Please help me !

Hi Biba,

I have sent you a PM. Let me know if you need anymore information.

Sarah

twizzle150

:mad:DEPT MANAGEMENT HELP,
please can anyone give me some advice as i am so worried.
i have been with a dept management firm for 18 months and i have been having letters from the people that the firm is supposed to be paying saying they havent been paid for 2 months. i have phoned the dept management firm up but all they say is that they have paid it. i have been charged interest on each account i have with them which is six, Please can anyone give me any advice, as would be grateful. Thanks

DotNetter

Ignore this...I've seen the letter above now!

CCCS_Matthew wrote: »

Hi there.

In answer to your questions...

1) If you're not sure how to sum things up within a few words we tend to suggest "overcommited on credit" which pretty much suggests you perhaps you bit off a little more than you could chew.

2) You'll need to change your payment to Northern Rock to represent just the payment for the mortgage. We have a template letter you can use for people on DMP's with a together mortgage. You can call us so we can send it out, or if it helps, PM me with your email address and I can send it across.

3) You don't need to send your expenditure summary, we'll be sending this across with the DMP proposal once you send your bits back to us.

Hope this helps!
Matthew.

I'm in the same boat regarding number 2 - I have received my paperwork today but my direct debit to Northern Rock is a single amount which pays my main mortgage, a secured loan and the unsecured loan I want to include on my DMP.

Can I get a copy of the template letter you mentioned please (I'll PM you).

Regards,


Wayne