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CCCS_Sarah

bobbyday wrote: »

Hi lovely CCCS people...!

I entered into a DMP with the CCCS in Novemeber and have made regular payments since. Most of my creditors have frozen, or severely reduced my interest. Unfortunately, HSBC and LLoyds have not.

HSBC represent my largest creditor (about 45% of the debt) and it is broken up between a loan, credit card and debit card. They are still charging full interest on the credit card (22.9%) and debit card (having already applied the full interest to the loan amount when repayment began). DMP repayments on the credit card are lower than the interest on the credit card, so the overall debt is increasing. Similarly, the repayment on the debit card barely covers the interest charged by HSBC. HSBC have also made lots of charges in recent months to the debit cards (£25 in December, £50 in January).

I've tried writing to them asking them to reduce interest but all I receive is some standard letter saying they've tried to contact me by phone. They have not, but anyway, I've asked to continue correspondance via post due to the harrassment I received by phone when first suffering difficulty.

I face a similar problem with LLoyds, though they represent a much smaller percentage of the debt. The interest of the credit card is larger than the payment I can afford to make to them.

With Lloyds I also face a different problem with my debit card. I'm making payments to the debit card, but the payments don't seem to be crediting due to some payment block that appears to have been placed on the account. It has meant for some time that no payments into or out of the account can be made (except interest being charged). Therefore, my DMP payments aren't crediting to that account and I don't know what is happening with the money!

So in summary, my questions are: WHat is the best way to deal with HSBC? Contact details for the Collections Department or someone senior who may actually answer my questions would be helpful!

Similarly for Lloyds, who should I contact within Lloyds. Also, have you encountered this payment block problem with Lloyds accounts and how should the payment not being debited problem be rectified?

Thanks very much in advance

Hi bobbyday,

Thank you for your post.

I have attached a link to the CCCS website that explains in detail about interest and changes for you, have a read through and let me know if I have any questions http://www.cccs.co.uk/InfoCentre/EnglandandWales/Creditoraction/Chargesandinterest.aspx

Not to sure to be honest about the issue with Lloyds, I would recommend that you either speak to them direct or call our client support department to discuss.

Sarah

huskypup

Hi

we are starting out DMP with CCCS 01/05, have sent token payments for march to all of our creditors detailing reasons and CCCS ref number - Egg have replied saying they will not stop interest without speaking to us - do I phone them? and Tesco have said they are unable to help us as our letters have not been signed (as advertised by someone on here) they have sent us a template to sign and return to them in a prepaid envelope - do we sign they and send them back?

Thank you

GibbsRule_No3

Is there a link to a thread with addresses to people like M&S, Barclaycard, Mastercard, HSBC, Tesco etc where token payments should be sent? Most bills say don't send correspondence with money. So I was wondering where to send the token payments I need to send this month.

Phil-1956

Originally Posted
Hi,

Wonder if anyone can help. I have been in a DMP now for a year & have made all payments on time at £400 per month. (I owe about £100,000). I am self employed as a mortgage broker & the bottom has fallen out of the business. My recent review shows me as having more out go than income so I have dropped my DMP payments to £200 until things pick up. (I considered an IVA but the varaible nature of my income makes this a difficult option)
One of the debts is with Nat West from whom I borrowed £25,000 over a 7 year period two years ago. They have recently filed for a Court judgement demanding £29,000+ which includes all of the interest that is payable on the loan over the next 5 years.
I jointly own our property with my wife with a mortgage & secured loan & very little equity. We are now 1 month in arrears with the mortgage.
I have filed an acknowledgement giving me another 14 days to file a defense.
My major concerns are as follows
As a mortgage broker I am regulated by the FSA (As an appointed rep of a network). I believe a judgement will put my job at risk, but am unsure. Any body know ? I have written to Nat Wests solicitors telling them this but they have replied to the effect that Nat West are continuing the action unless I pay them the full amount or £490 per month. (The original payment was £384 per month)
I am looking for employment outside the industry but this is not easy.
If I were able to repay the loan now or in the future I would under the terms of the loan be entitled to a reduction in interest. But the CCJ is going to be for the amount borrowed PLUS future interest. Can they do this & is there a defense.
The DMP company have told me that Nat West are going to be looking to place a charging order on the house effectively making it a secured loan. My Wife would object to this as she owns half & is not party to the loan.
Selling the house currently is not an option as I would have a hefty penalty to find on redemtion of the mortgage. However if I did in the future I would intend to offer any equity to all creditors on a pro rata basis. Surely Nat West seeking a charging order are being unfair to other creditors who have been (in the main) more co-operative by freezing interest.
Can anyone advise me on the above in particular any points I can make in my defence.

Thanks in advance

Hi Phil,

Thank you for your email.

I would recommend that you call for an appointment as soon as possible for the CCCS to help you complete a detailed budget and look at your options. You will need to speak to your mortgage lender as soon as possible and come to an arrangement for the missed payment.

With regards the CCJ, if this was going to affect your work then you could apply for a Tomlin Order. You would need to find proof from your governing body of how a CCJ would affect you.

If the creditor agrees to a Tomlin Order, a document or schedule would need to be drawn up by a solicitor or a court appointed mediation service. This would then be presented to the court to agree the order. Solicitor’s fees for this service vary depending upon the complexity of the case.

If you default on the order, the creditor can return to the court and apply for a judgment to be entered without having to re-start proceedings.
The order then becomes public and will be registered as a CCJ with the same enforcement options e.g. bailiffs, attachment of earnings etc.

Sarah


Thanks for your reply.

Seems like the creditor is not being very helpful. You could try this from a different angle and approach the court directly. You could apply for something called a Time Order. This gives the court the opportunity to reset the terms and payments of the arrangement. You could attach any relevant paperwork e.g. that a CCJ would affect your work, you have tried a Tomin Order and the creditor is not willing to reduce the payments so still unaffordable so now you are asking them to help.

It may help if you have a detailed budget from a debt advice charity too such as CCCS, CAB or National Debtline as this shows you have tried a number of different types of negotiation.

I have attached a link to the National Debtline’s website so you can have a read about Time Orders.

Hope this helps
Sarah

Hi,

The Judgement has now been issued, & I have to pay them £549 per month. It seems that the court has taken no notice what so ever of the income & expenditure that was sent to them. I can't pay this as I am struggling to pay £200 per month into the debt management plan. I am now in arrears with our mortgage & also working in the evening to try & keep up.

I have checked & I have to report the fact that I have had a judgement issued. It seems that I may not lose my ability to create an income, but its not guaranteed.

On top of that I'm starting to feel the stress. I had a heart attack several years ago & don't want to risk another

Any advice on what to do next.

PS I know that Nat West are likely to want to get a charging order which explains why they are being so unhelpful. I would want to contest this as half of the property is my wife's, their is little if any equity, & it would be unfair on my other unsecured creditors (who unlike Nat West have been more helful & frozen interest instead of adding 7 years worth on upfront)

cameron1

Hi

I have my cccs paperwork signed and ready to send back. My monthly installment is £624 per month which means each creditor will get a monthly payment which is roughly 65% of the required amount.

My concern is that i get paid on the 20th of March and my creditors all require payment around the 25th March. However i will pay £624 to CCCS on the 1st of April as required which wont then be distributed to my creditors until the 25th April. Thus meaning they are effectively not being paid at all for 4 weeks. They will be getting March's payments at the end of April. How are they going to react to this?

Also i have a form to send to all of my creditors informing that i am going into a DMP. Would you advise that i send a letter with these forms to each of my creditors, exlaining my situation, why i am in debt, and that these installments are all i can afford to pay?

Would you explain to them that bunkruptcy results in instant dismissal from my job, thus meaning i would lose my income. Given i have no assets, they would get NOTHING of what i owe them. Added to which, i love my job and dont want to do anything else.

Likewise, if they dont accept the DMP, my next alternative is IVA which means a lot of the debt will be written off.

Do you think this would be providing them with too much info, or do you think that knowing my circumstances might encourage them to realise a DMP in also in their best intrerest and make them more accepting of it?

Alos, im interested to know, what happens if a creditor does not agree to the plan?

Cam

cga1983

Hi I'm just after a little advice on a situation i have with one of my creditors. I have an outstanding balance of roughly £1000, i was making payments of £25 but haven't made a payment since November due to the continued hassle i was receiving from them informing me i wasn't sticking to their 28 day payment policy, i have since had several more conversations stating that as a single income family of 4 i cannot adhere to the 28 day policy but can only make payments on the 1st of every month as i get paid on the last working of every month. Having been told that this would not be good enough and the calls and letters would continue unless i made the 28 day payments, in a very grown up sort of way i decided to stop the payments and try and change their minds, this has not worked. The threat of taking further action unless i make payments within 28 days it further action will be taken. What i would like to know is can I be bullied into making payments that i cannot stick to, i am not refusing to pay the debt but i can't do it on the condition they are demanding?

Any advice would be great.

chocolates

Hi
Im currently on Maternity leave and from next month will be on statutory maternity pay. I owe around £20k and so it will be impossible to pay all of my creditors. Would it be possible to start a DMP whilst on maternity leave?? Also my pay will differ each month.
Many Thanks

DizzyB

Hi there, I am looking for some urgent help. We are drowning in debt and at the moment the only way out I can see is a consolidation loan. Things have gone so far though, that I can't imagine anywhere would give us one.

We have a mortgage and all the associated household bills, whihc we are on top of, so prioritising the bills is done. However, the debt is not decreasing at all. I am getting continuous bank charges and am constantly shuffling money between accounts as otherwise I'd not even make it to work before the money was swallowed up. Childcare is ruining our finances. I am barely making what I am paying out - but giving up work wouldn't solve things either as I need to be able to use the money for the childminder to pay the bills!

I really do not have a clue where to turn and I can't see any way out. I am terrified I will lose our home and ruin our children's lives. Please help.

nataz

Hi
I started my DMP with CCCS this month and am still getting calls from Bank of Scotland saying they wont go ahead with it until they receive a breakdown of our income and outgoings. I spoke to someone at CCCS last week as they said it was all sent but Bank of Scotland rang again this morning asking for it. Also they should have received their first payment, but they dont seem to have any record of it. They are giving me 3 weeks for the payment to reach them, but surely it would've been there by now, or does it take longer?
Also do I need to inform CCCS of the creditors who havent stoppped interest or added charges?
Thanks

orientallily

Can you help?
My husband bought a new PC and along with it, took out a PC Protection warranty to cover repairs if they were ever necessary.
At the end of the first year, he didn't renew the warranty - but forgot to cancel the direct debits with the bank.
We have now written to the company who have cancelled the warranty but say they cannot refund the year's direct debits.
Is there anything we can do?