Ask a CCCS counsellor a question

brighter-side-of-life_2

Hi PeeBee1,
I myself are just embarking on a DMP with CCCS and received our first phone call today which was from EGG and they were very good!! My wife was phoned by their collections dept, when i told them we were entering into a DMP they asked with which company and my REf. no. end of call.No hassle (yet) guy ok.

VicB

PeeBee1 wrote: »

Hi there,

My wife and I are currently embarking on a DMP, with paper work being gathered and due for a prompt return to CCCS. One fear gnawing away at me is about creditors contacting me at work, or indeed my boss - has anyone any experience of this sort of approach? I think (I hope) I'm ready to deal with the letter and calls at home, but if anything came to the workplace I'm not sure how I'd deal with it. Our creditors are:
Loans - A&L, RBS
CC - B'card, Egg, Cap1, MBNA, AMEX
OD - RBS

Thoughts/experience appreciated.
Paul

Hi PeeBee

I think it's highly unlikely they'll turn up at your work, although you state your employer when you open a credit card/loan you don't have to tell them when you change employment, so you details could be out of date :(

I'm sure it's just harassment via phone/letter!! :mad:

CCCS_Matthew

blinkey wrote: »

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:)

Hi blinkey.

They wouldn't be able to renew the default for another 6 years, but you would be still liable to pay the debt until it's clear.

Hope this helps,
Matthew.

CCCS_Matthew

G2M wrote: »

Hi,

If I have equity in my house, I don't live there, I am separated from my wife, will this disqualify me from an IVA?

Thanks

If your share of the equity outweighs yout debt liability the I'm afraid it would disqualify you for an IVA. If this isn't the case, an IVA could be an option but you would need to bear in mind that the IVA may dictate that you have to look at remortgaging the property within the 4th year.

Hope that helps,
Matthew.

00susan

Hello..

For the last 2 years I have been struggling with 2 debts & both are now with credit agencies.. (One a previous loan & the other a credit card debt..) So no interest is being added plus the payments I am making they are happy with..
The loan shows as in default on an equifax report, but the credit card debt does not show at all..

I have luckily come into some money...:j & can afford to pay off these debts.. Should I make settlement offers (and save myself some money?) or pay off in full? or continue with the payments & invest the money?..

A dilemma!! I'd really appreciate some advice on this..
Thanks
Susan

CCCS_Matthew

shazzadc57 wrote: »

Hi

I've been in debt for many years now, I've generally buried my head in the sand, but things are finally catching up with me and it's now affecting my health.

I have approximately £20,000 of credit card debt. I've tried moving things around over the years, but even that door seems to be closing now!

I would really appreciate nsome help and advise?

Many thanks
Sharon

Hi Sharon, thanks for getting in touch.

I think you would certainly benefit from speaking to us for an appointment, or if you prefer, getting some advice from Debt Remedy.

Debt Remedy would assist you in completing a financial statement and you would be provided with tailored advice on the best way to deal with your situation. Click here to go directly to Debt Remedy.

If you would prefer to talk to a debt counsellor about your situation, you can book a telephone based appointment by calling our helpline free on 0800 138 1111. Lines are open Monday to Friday 08:00-20:00. It would be helpful that when you call you have details ready regarding your income, expenditure and creditors, as this can help speed up the referral process. If you have this information ready it may be possible to refer you directly to a counsellor if one is available, otherwise we will arrange a time that is convenient for you to be called back for an appointment.

Regards,
Matthew.

CCCS_Matthew

kaths101 wrote: »

Hi, I am working with the CCCs to arrange a DMP - do i send a SOA with my token payment or let CCCS sort that side of things out?? Im just sending a cheque with each letter - or is there another way to send a token payment?
Thanks

Hi there!

You don't need to send the SOA, we'll do this electronically directly to your creditors once we've received the information back from yourself.

You just need to send your token payment with the 'Notification of a DMP' letter. There are a few ways you can make your token payment:

• Cheque
• Postal Order
• Pay it over the counter where possible
• Direct bank transfer (bill payment)

Hope that helps,
Matthew.

CCCS_Matthew

Dugsy wrote: »

thanks for the response sue i appreciate it. But before i ring i wanted to know the consequences of doing something like a DMP.? ie
1. What will happen to my credit rating?
2. I am currently renting a house and i also own a house which i rent out and is up for sale (6 months now i have dropped the price drastically). selling this would enable me to pay off most of my debt. will they put some kind of order/claim on the house?
3. What happens if I do a DMP and my circumstances change i.e. business picks up and i get a wage again?
4. I'm moving out of the house that i am renting so that my expenditure drops significantly. do you think this is a good idea? i can't pay the rent at the moment.
5. i can't move into the house i own as i still cant pay the mortgage. the rent currently takes care of this.

if we move into my wifes parents house (not ideal) we can just about pay the bills and will scrape about for shopping money etc. ( parents will pay the small backlog we owe) would this be a better idea than doing a DMP? i'm fed up with being totally skint but do not want to shy away from my responsibility to pay.

the business(shop) is managing to hold its own at the moment and if i let it go i have no job prospects. the business has the potential to earn me enough money just not at the moment.

could you or someone else please clarify exactly what i might be letting myself in for if i do a DMP?

any response would be very much appreciated
D.:o

Hi there. Having an appointment with a counsellor is to discuss all your options, so it won't guarantee that you will get a DMP. But in answer to your questions:

1) Your credit rating will be affected on a DMP. Most creditors will issue default notices which will sit on your credit file for 6 years.

2) Your creditors could only put a claim on the house if they obtained a charging order, after they have already got a CCJ against you. This does not happen very often. If you are in the process of selling the property, it's unlikely a court would allow a charging order anyway, especially if the sale is going to clear the majority of what you owe.

3) If your situation changes you would need to review your budget to see if you can increase your payment to your creditors. The DMP payment is not set in stone.

4) I can't really answer this question without knowing what kind of impact this is going to have on you financially. This a question you would need to raise on your counselling appointment.

5) As above.

Regards,
Matthew.

CCCS_Matthew

PeeBee1 wrote: »

Hi there,

My wife and I are currently embarking on a DMP, with paper work being gathered and due for a prompt return to CCCS. One fear gnawing away at me is about creditors contacting me at work, or indeed my boss - has anyone any experience of this sort of approach? I think (I hope) I'm ready to deal with the letter and calls at home, but if anything came to the workplace I'm not sure how I'd deal with it. Our creditors are:
Loans - A&L, RBS
CC - B'card, Egg, Cap1, MBNA, AMEX
OD - RBS

Thoughts/experience appreciated.
Paul

Hi Paul.

Your creditors are not allowed to speak to any 3rd party in relation to your debts by law, so you certainly don't need to worry about them disclosing information to your boss.

If they do decide to call you at work, the debt collection guidelines do state that you are within your rights to ask not to be contacted at work. For a lot of people, once on a DMP, the communciation dies right down once your creditors are getting regular payments.

Good luck with the DMP,
Matthew.

CCCS_Matthew

00susan wrote: »

Hello..

For the last 2 years I have been struggling with 2 debts & both are now with credit agencies.. (One a previous loan & the other a credit card debt..) So no interest is being added plus the payments I am making they are happy with..
The loan shows as in default on an equifax report, but the credit card debt does not show at all..

I have luckily come into some money...:j & can afford to pay off these debts.. Should I make settlement offers (and save myself some money?) or pay off in full? or continue with the payments & invest the money?..

A dilemma!! I'd really appreciate some advice on this..
Thanks
Susan

Hi Susan.

I would say it's definitely worth offering settlements to your creditors, particularly if some of the debt have been passed on to debt colleciton agencies. Saving the money and investing it isn't likely to be of much benefit as the potential interest rate you could get on savings will be far inferior to the rate you will be paying on your debts.

If you need a template letter to make a settlement offer, feel free to drop me an email on [EMAIL="contactus@cccs.co.uk"]contactus@cccs.co.uk[/EMAIL] and I can attach you one on an email.

Regards,
Matthew.