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treading_carefully

Why would a bank want to alter a credit agreement to stipulate specifically in the new agreement that it is for business purposes only and not covered by the Consumer Credit Act.?

If things went t*ts up for the debtor, ie cannot pay and bank goes through their legal processes to recover the maximum they can, what is the difference to both bank and debtor in the credit agreement being treated as a business loan as opposed to being covered by CCA. What is the advantage of it being covered by CCA.?

Surely a bank can instigate bankruptcy proceedings in either case and get the same outcome.?

Appreciate any feedback on this issue.

stevieblunder

Hi there, can you advise my on your pro-rata calculation and how you consider 'monthly contractual' payments rather than just divvying up debt in proportion to overall amount owed...

What if debts get to CCJ stage and the numbers are different to what a judge decides? I may owe over £1000 on a payday loan for example - but my payment is only £5 vs a much higher payment for another creditor who i pay £50 per month too. CCCS have entered £1 as the minimum contractual payment.

Either way is fine with me - just don't want the worse case scenario of a CCJ which comes out asking for a higher amount...

Thanks kindly!!

leemint

Hi,

I've done the debt remedy on your website and it gave me the two options of letting you deal or deal myself. I've decided to deal myself, but just not sure where to start really, also I am receiving alot of telephone calls at the moment from withheld numbers. Do you recommend that I get them to remove my number from there system.

thanks

x

P.S Also on that note, when we make the payments by standing order do we need to ask them for bank details etc

P.P.S I have sent a request to yourselves for the DMP help, do you know how long this takes?

CCCS_Amanda

LoudnLow wrote: »

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.

Hi LoudnLow,

A default notice is a legal requirement for a creditor if you are not meeting the terms and conditions of your agreement.

We usually recommend completing an income and expenditure summary to show them your financial situation. Make them an offer of payment on a weekly basis, as this is convenient to you, and see what they come back with. They may be more open to an agreement once you have received your default notice.

If you need help completing your budget or further advice on making an offer of payment you can contact our helpline on 0800 138 1111.

Regards,
Amanda

CCCS_Amanda

ginger82 wrote: »

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

Hi Amy,

It can be difficult to deal with Debt Collection Agents (DCA) if you have not done it before.

The main thing that you need to ensure is the payments that you agree to are affordable. Regardless of their demands, in 6 months you will just have to renegotiate your reduced payment to Triton.

If you would like some help with a budget or you would like some advice on your rights, you can either use our online debt advice facility called Debt Remedy or you can contact our helpline of 0800 138 1111.

Regards,
Amanda

CCCS_Amanda

Tuscan wrote: »

Hi

ive had a dmp with the CCCS for over 5yrs now and its largely worked very well and have paid many thousands off my debts.

in all this time ive always kept to the plan and never missed payments etc and have increased payment amount year on year.

however i am self employed and although i managed to get through the credit crunch last year but with a very reduced income i still kept to the plan.

now im getting very worried as for the first time in 20yrs of working for myself ive not had any work since the 6th of December and currently theres nothing on the horizon although this could change at any moment should the phone ring. we have very little money left after last year and have a mortgage and a secured loan that must come first.

what im asking is what do i do if i cant make a full payment this month? im gutted at the thought of stirring up trouble with my creditors as they have excepted the plan from the start and have been good as gold with me bar one that took me to court.

im paying £420 a month on a outstanding debt of around 29k plus £250 to the CCJ which i pay direct.

wife's taking on more hours at work so her income should just cover the secured debts and CCJ but wont cover my dmp, chances are my work will start to pick up in the next few weeks but may not be in time to get a full payment to the CCCS.

also have a 2yr old to support so we are feeling a bit concerned at this time..

thanks for your time
tuscan

Hi Tuscan,

I am sorry to hear that things are not going well on the job front.

Give client services a call (the number is on your statement) and have a chat with them about what has been happening. They will discuss your options with you. These things happen so try not to worry about your creditor’s reaction. Just explain to them what is happening if they contact you.

I hope this helps.

Regards,
Amanda

CCCS_Sarah

redpolly1 wrote: »

Hello

I have a hearing on Thursday for a Charging Order. It is from NR for a loan of £15000. Am on DMP with CCCS. CCj rejected. Is it worth fighting or just best to accept and ask for condition - stop interest, instalments and no order of sale?
Also what should we expect to happen there?
What do we need to take with us?

Thanks

Hi Redpolly,

Just got to your question, sorry for the late reply. How did your hearing go? Is there anything we can help with now?

Sarah

CCCS_Sarah

1066wasabadyear wrote: »

Hello all, well its finally come, I have run out of money to pay my bills (CCs) for the first time ever in over 10 years this month and I've not got a clue what I should do, I'm self employed and been claiming JSA since October 09 I've had a DCA after me for purchases I never made or agreed to I'm not worried about them but I am over the credit cards, usually I ignore them but I don't think it will work for the cc, so please any advice as to what I should do would be great, thanks, Gary.

Hi Gary,

Thank you for your message. I would recommend that you just pay them what you can and cancel your direct debits. If you have any debts with your current bank you will need to open a new bank account at a bank where you have no debts and arrange for your income to be paid into here. If you pay any of your priority costs by direct debit i.e. mortgage, council tax etc then you will need to also switch these over as soon as posible.

I would recommend that you have a telephone appointment with ourselves so we can help you complete a detailed financial statement and look at your options. If you would like an appointment please call 0800 138 1111.

Regards
Sarah

CCCS_Amanda

brunettegirl wrote: »

As far as the car is concerned has it got as far as a CCJ or is it just with a debt collection agency?

Regards,
Matthew.

thanks for that.

The car is still with the original company I took the loan with and they haven't taken it to court, i dealt with them direct.

Hi there,

As your repayments on your car do not even cover the interest charged, you can apply in you local County Court for a ‘Time Order’. A Time Order is a way of asking the court to review the terms of your agreement and in some cases they can change the interest rate you are charged.

You need to fill in a N1 from (available from your county court), along with a full budget sheet and details of your circumstances. This should be taken you your local County Court. There is a court fee of £150 to pay but if you are on certain benefits you may be able to get this reduced. There will be a hearing and the district judge will decide whether to make a time order.

I hope that this helps.

Regards,
Amanda

AzimScot

I have a few questions:-

1. If you take out a DMP/IVA or declare bankrupt how much does it effect your credit rating? How many points are removed? How long do they remain on your file? Does this include during the time you take to pay off your DMP/IVA?

2. Trust deeds are for Scottish citizens I understand you can write off any debt after 3 years without any fee what so ever and minimum payment can be about £100 per month?

3. How easy is it to repair and improve your credit rating after DMP/IVA?

Thanks.