Ask a CCCS counsellor a question

Rosey-Boo

Hi, I am a newbie to this web forum and indeed posting in general.
I am claiming DLA and IB benefits and have debts of £3082.79 owing to a Debt Collection Agency. This was originally a HSBC Credit card and i defaulted payment in 2005. Since then it has been handed over twice and now is with Rockwell. I have been making payments and have agreed to pay £72 per month till May 2010 when £2794.79 will be due. I do not have this in savings as want to know if I could offer them maybe £1000 settlement or whatever I have then saved then? Would they accept this? I know its not as much debt as some people on here so would they hold out for rest?
I am getting very stressed by how long i have had the debt and this is not good for my mental health!
I do not have much money coming in but have been getting help from my mum so this helps -

Should I save up along side the debt if possible and offer them a settlement figure or pay top-ups? Which would mean I pay back less as the advisor said that the lower the money the smaller the percentage off for the settlement figure?

PS - i spoke to Mary ward legal centre before and we got the interest frozen

I hope this all makes some sense.

I would love to be debt free by the end of this year!

Any advice would help!

Many thanks.
RB

jenjenjen72

Hi,

I'm new to these forums so apologies if it's a waffle!!

Basically, I have debt of 8k on credit cards and overdraft.
I try my hardest to pay the minimum or a little above every month.
My childcare situation is to change in Feb and despite claiming government funding for my 3 yr old I will be paying £150 per month in nursery fees.
My partner owns our house and he is aware of my debt but it's not something we're discussing as he has debt of his own to contend with (along with other stress at present). We will be moving house in 2 yrs and downsizing!!
There is nothing left each month by the time I have paid bills etc.
I guess you want a budget from me???

My question is, Should I contact Creditors to arrange and plead?? to freeze interest in order to pay my debts?
Should I arrange a DMP? and how will this affect my chances of taking over my parents business in 2 years time? Does personal debt affect my business plans?
Their business is established 20yrs and they will be retiring.

Hope this is understood? Where do we go next?

Thanks in advance

>£4meplease

Sorry, I'm new. Still working out what I'm doing.
I may have asked this question earlier today.

In short should I transfer a CC debt of £700 from a card with 30.340%/annum to an existing card which has £5000 of debt on it offering a promotional rate of 0.9% on transfer until July2010 with a normal interest rate of 1.4566%/mth?

If I paid £200/mth would the minimum payment (say £50/mth) come out of the £200 and then £150 go off the transferred amount? So, say £200/mth for 5 months would pay 50 x 5= 250 off the £5000 (+accrued interest) and
£150 x 5= 700 off the £700 debt (+ interest at 0.9%)???? ish.

Is the principle right?

>£4meplease

Topcatcourtenay

Hi,

I am determined to take my debt by the horns in 2010 and so on New Years Eve, I completed the Debt Remedy on the CCCS website, and clicked the button for a DMP.
I felt like a weight was off my shoulders immediately! But since then have read some of the threads on here and am worrying whether I am doing the right thing.
We have built up a huge amount of debt mainly on cards but also a couple of loans, in total we owe near on 50K. Up to this point we have managed to meet all the minimum payments but only with a lot of juggling and we are getting nowhere. After everything is paid we have no money left at all and so continues the downward spiral.
My main concerns are
1) how likely are my creditors to agree to a DMP when so far they have all been recieving there money with no problem?

2) CCCS mentioned my DMP would start in Feb- I get paid at the end of the month and all my C/C's etc are due by the 1st.....would you say it was ok to send everyone a token £1 payment at the end of Jan with the CCCs letter, this would then give me some money to get my Maintenance charge up to date and my husbands MOT done which is now 2 months late??? and then send my first installment to CCCS at the end of Feb???or would this delay it starting and if it did does it matter??

3) My biggest fear and worry is all the nasty letters and calls people have mentioned on here from creditors...so far coz we have just managed to keep them all happy we haven't experianced this...is it very likely or is it quite rare to be taken to court etc.... I except we will now have loads of defaults after this DMP, but was hoping that was the worst they could do t me??? feel very scared about this and unsure how much I would have to deal with this myself or are CCCs there to help with this side of our creditors too???

Thank you in anticipation of your reply!!!
XX

Beckyp1976

Hi

I have been contacted by a DCA looking for £47000 which was a second mortgage against a property I used to own. I jointly owned a house with my ex, when we split up in 2006 I transferred the property into his sole name as he had always paid the mortgage and dealt with the finances. This seemed a fair proposition at the time. It now appears that there was a second mortgage on the proprty which I was unaware of though my signature does seem to be on the documents. It seems he stopped making payments in 2007 and has now disappered. Is there anything I can do, I don't have this sort of money as although I work my partner stays at home with our baby. Our house is rented and in my partners name.
I hope you can help.

Jacey53

Hi
I have been in touch with CCCS and completed the debt remedy form. In order to start a DMP i have applied for a basic bank account with another bank. I am told it will take about 2 weeks to come through.
I need to notify my employer asap in order to have my salary transferred in time (payable at end January).
I have not completed the authorisation yet to CCCS as i was expecting a small salary increase at end of December and wanted to make sure i had the most up-to-date details. I will be doing this tomorrow morning.
Should I start cancelling my direct debits now? I can do this online so do not have to give an explanation at the time, but if for any reason my salary is still paid into the old bank at the end of the month, could they take all my salary to clear the overdraft? I could meet the minimum payments on my bank credit card and loan this month if this is the best way forward, but could possibly then not pay the minimum on the other CC (although it may just be possible as i have enough food etc in the house to last for a fortnight)
Can you please advise the best way to move on with this. many thanks

patchy987

ok, so how to start, well we are 3 years into an iva and had some payment problems this year, i had a letter of breach in october , this completely panicked me and i rang them to say we would try to pay 1500 within 6 weeks to get back up to date, the next day i realised this was unrealistic and rang back, after a conversation with a really nice woman she said we could have till march 2010 to get the arrears paid and everything would be fine.

anyway today i get a letter from the iva supervisor saying they have now written to the creditors asking if they want to pursue bankruptcy proceedings, i am in the process of getting the money together as i promised them i would and now it seems its too late.

is there anything i can do ?? and please dont say call them as they dont open again till monday and i am already feeling suicidal over this and am currently sitting here with a lot of tablets.

please help me, i really need some advice

LoudnLow

Hi everybody! I'm in need of a little help.I recently recieved a letter from natwest asking me to discuss my overdraught. im about 800 quid in the red. basicly i was trying to claim my bank charges back and was worried they were gonna pull the account on me so i changed my account and all my wages then were paid in to the new account. leaving the old account about 800 in the red. the letter from them said i had 7 days to reply. I replied -(outside the 7 days) and offered to pay between 40 and 50 quid a month back they refused the payment because i wouldn't pay it monthly. I cant because I'm self employed and my income goes up and down . i wanted to pay it weekly so that I didn't default.anyway they refused and said they would issue a default notice dated today saying I have to pay the whole lot back within 28 days. which i cant do. so my question is how to deal with this. Any help would be greatly appreciated.

Ginger82

hi i wonder if someone coiuld help me out...

i have quite a lot of debt which i am attempting to deal with but at the moment dealing with it means working more and more hours!! i need sleep.
i had a credit card with natwest which has now been passed to triton, i have agreed to pay 100 a month after a budget planner, but was very stressed by this as they threatened to take me to court. i also have an egg card which they have increased the minimum payment on and im struggling. after reading some posts on here im wondering if i caved in to triton too easiloiy, also they are saying i have to pay the full balance after 6 months....how the hell do i do that?? its around 3500

please help
amy

Ginger82

hi i wonder if someone coiuld help me out...

i have quite a lot of debt which i am attempting to deal with but at the moment dealing with it means working more and more hours!! i need sleep.
i had a credit card with natwest which has now been passed to triton, i have agreed to pay 100 a month after a budget planner, but was very stressed by this as they threatened to take me to court. i also have an egg card which they have increased the minimum payment on and im struggling. after reading some posts on here im wondering if i caved in to triton too easiloiy, also they are saying i have to pay the full balance after 6 months....how the hell do i do that?? its around 3500

please help
amy