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Learning2Budget

Hello, it's the first time I have posted on here, so hope I'm doing it right.
I have 2 questions, firstly, I would like a copy of my debt management figures, cos I think it would be easier for me to budget if I could see what my figures are meant to be. Can't remember what I've done with our paperwork! How do I obtain a copy?
Secondly, I am currently 6 months pregnant with our 2nd child and will be going on maternity leave, meaning my income will drop. What do I do about this so we can still budget and pay our dmp (which has been running since aug 08).
We are hoping to take a 6 month mortgage break, but am worrying myself sick about our budget.
Please help.x

CCCS_Amanda

VicB wrote: »

Hi,

I have now sent all my DMP details back to CCCS and letters to my creditors explaining that I am entering a DMP. I just have a few questions -

- I get paid the 15th of every month, so I am assuming my first payment to CCCS will be 1st March, which will cover the March bills? Should I send my creditors a token payment to cover February? I have as much as I can afford for January.

- I have applied for a NatWest bank account as my current b/a is with HSBC (who is one of my creditors). NatWest will supply a debit card - is this ok?

- Towards the end of this year I will need to leave my parents home and rent a property (thankfully my rent costs should not increase by much) will my DMP effect me renting a property? I can put my parents down as guarantors.

Thanks in advance for your help, any advice is much appreciated.

Hi Vicb,

If you make a payment on the 15th of February, this will count as your 1st March payment. Your creditors all know how we work and as long as you advise them when you are starting your DMP you can make a token payment if you can afford it.

Debit Cards are absolutely ok; we only ask that you do not attach an overdraft to your new account as this is lending.

Making reduced payments to your creditors will affect your credit rating. When you are looking for rented accommodation try using a private landlord, or as you say, use your parents as a guarantor.

Regards,
Amanda

Learning2Budget

Sorry have just thought of another question, we currently have a joint bank account with the coop that all our bills go out of, and I have my own account with them, but my husband is really struggling to get his own account, his wages currently go into the joint one. Can you recommend any banks/building socs that may give him a basic account?

CCCS_Amanda

glanur666 wrote: »

I have just started a DMP with CCCS with my girl, but my total debt personally to me are £7K so would this be the best option for me, as I only earn about £100 a month self employed. The car is in girls name so I dont own the car and have no assets such as a house, savings etc..

Will this effect my business even though i have no money in it, will it effect my current bank account as non of my debts are with my bank and i have had good standing with them.

Hi glanur666,

I can’t give you detailed advice via this forum, but if your counsellor advised a DMP I assume it is a good option for you.

There should be no affect on your business, but as your credit history will be affected your ability to lend for the business will be affected.

There should be no affect on your ban account as you have no lending with them.

If you have any questions give our client support department a call (the number should be on the information we sent to you).

Regards,
Amanda

CCCS_Amanda

VicB wrote: »

Sorry, one more question -

I contacted Capital One back in late December as I think they may have mis-sold me PPI when I took out the credit card over 5 years ago. They are one of the creditors listed on my DMP - will this effect me pursing them for unsold PPI?

I did receive a letter from them saying that had to look into my query (which may take 4 weeks) and come back to me, which should now be in the next week or so. I'm not sure how this will effect DMP?

Thank You

No problem…

It would not affect your DMP; however, if you are successful with your claim Capital One will probably just apply any funds to the outstanding debt.

Amanda

CCCS_Amanda

AJLondon wrote: »

Hi all

I have a question for you about my finances..

I have three unsecured loans and a credit card outstanding with debts on them combined at approx £30,000... Two of the loans are over 5 years and the third is over 7 years with a high APR.

Basically I am looking at approx £200 per month after payments come out to also pay my CC and live on..

Would a DMP be an ideal solution for me?. I have recently purchased a new home on the new government scheme which the money is seperate and I want to keep my debts as MY debts and to not affect our house or my partner..

What do you suggest? With a DMP my outgoings would be £650.00 for all House bills/Mortgage/Food.. £40 per month on my phone bill and £45 per month on my life/personal insurance.. So would have just under £900 per month left over.

Hi AJLondon,

It is difficult to give detailed financial advice via this forum. There are a few factors to consider.

- is the repayment to your creditors currently unaffordable
- will you be able to pay the debt in a reasonable amount of time on a DMP
- Are there any other options that are better for you in your circumstances

If you want to see is a DMP is a good option for you, you can either use our online debt advice facility called Debt Remedy or you can contact our helpline on 0800 138 1111 to speak to a Debt Counsellor.

Regards,
Amanda

VicB

CCCS_Amanda wrote: »

Hi Vicb,

If you make a payment on the 15th of February, this will count as your 1st March payment. Your creditors all know how we work and as long as you advise them when you are starting your DMP you can make a token payment if you can afford it.

Debit Cards are absolutely ok; we only ask that you do not attach an overdraft to your new account as this is lending.

Making reduced payments to your creditors will affect your credit rating. When you are looking for rented accommodation try using a private landlord, or as you say, use your parents as a guarantor.

Regards,
Amanda

Hi Amanda,

Thanks so much for your help, I have found the CCCS service invaluable. Keep up the excellent work! :A

Dugsy_2

Hi there i'm new to this so am lacking a bit of knowledge. I have 2 questions & any advice would be much appreciated.

i'm doing to debt remedy online questionnaire - I have 2 loans what would be the easiest way to find out if they're secured on my house or not?

plus i'm not sure what to put down as earnings. i have started my own company which is LTD so i'm technically working for the company and not self employed. there is currently not enough going thru the business for me to take a wage. i have taken some money out over the last few months but dont feel this is actual wage income as i have only taken money out that i originally put into the business i.e. i have receipts for the money i took such as buying a van and pc etc. i dont have any wage slips as i've not yet taken any money that i did not put in first. what shall i put down as income? zero?

any help would be much appreciated.

blinkey

Hi

I have one outstanding debt, about £3500 with an Egg credit card. It has recently been sold to Apex and they called me and are happy with my £40 monthly payment.
I notice however that it will come off my credit reference report in May this year (after 6 years). My question is, if it has not been paid off by May will it renew for another 6 years?
I still have a CCJ, a credit card and 2 banks on the report for 'being naughty' but they have all been settled and will come off the report between now and May 11.
Any info/advice appreciated:)

CCCS_Sue

katcot wrote: »

Hi Sue

I have been mulling over your reply and wonder what could reason could there be for the claim to be reinstated once its been striken as it were.
Thanks Kat

Hi Kat

Basically, because the debt is still outstanding.
I would recommend that you contact the court for further advice on where you stand with this.

Regards
Sue