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can I start over with my DMP? I mean can I contact my creditors to find out the right amounts & make new payments?

lilysgarden

Hi, I'm hoping you might be able to help, although it might totally be the wrong place to post! I've just finished my degree this summer and like most mature students, went into education with existing debts. While studying I've paid the minimum on these debts in order to avoid defaulting on them and managed this fine with student loans and my wages, which has suited me well over the last four years.

I've finally got a starting date for my first graduate job as a social worker, but over the summer, I've struggled with the rent etc. I've used up my savings, maxed out my credit card and gone over my overdraft limit and now have charges pending for the overdraft. I'm not too concerned over this as once I start getting paid from my new job, I can clear the rent, bills etc and start clearing some of my debts quite easily with a bit of careful spending!

However, my problem lies within the wait for my first pay from the new job! I currently get paid weekly and will be moving onto monthly pay, so will have no money behind me to start the job with. Because of the nature of the job, I don't really want to be carrying on my evening job whilst starting this as I'll be putting myself under far too much pressure. But on top of paying the bills etc, I'll now be commuting nearly an hour each way to work, so will need money for petrol. However, my first pay from the new job isn't due till around the 23rd december!

I appreciate I'm a bad candidate for loans etc due to poor credit rating, but can you advise me of anywhere that may do a short term loan just to cover the bills till the first pay comes in? I've worked out that £1000 will be enough to cover the rent bills, petrol etc and leave me with some left over for emergencies (knowing my luck, something WILL go wrong!). I've emailed the Bristol Credit Union as I couldn't get hold of the one in Gloucester to see if they might be able to help, but haven't had a reply yet and I only have this week to get things sorted before starting the new job. Can you offer any advice as to who else might be able to help over the short term?

Many thanks in advance for any advice, Nikki

missyp123

Wrong agreement given and signed by us
Please we are in urgent need of feedback...

we have a charging order hearing on 5 jan, papers came through today and i called debt advice line to query the fact they have said 'and intrest of 12.39%'.
We have been on this website thorugh this whole process and thought that the consumer credit act secured us to not pay intrest on the charging order balance.
Debt advice line put us on hold, came back and told us to double check the agreement and dates, amounts etc.

I called them back, confirmed that the amount was £30.000 unsecured and the ageement clearly states it is regulated under the consumer credit act 1974 at the top. And where we signed it says 'this agreement is regulated by the consumer credit act 1974.Sign it only if you want to be legally boundb y its terms'.

Debt advice line has told us we must call our local trading standars office monday and have asked us to send all our paperwork in and they will be urgentently looking into it too! aparently the act should only cover loans of up to £25.000.

My heart is still racing from all the comotion on the other side of the phone, im not sure whats going on?

My initall query was concerning intrest being addeded at a rate we would never be able to pay back.

Please can anybody tell us what this means?????????????? Are going to have to go through court etc to defend this? Has anyone been through this?

*I had posted this in the loans board, but not sure if its the right place for it.

thefoolonthehill

Hi

I have received a letter from a debt collection agency advising they have started proceedings against me for a debt of 3,600. this they advise stems from an original debt of 285 which they are advising that i havent paid. This debt was paid off through CCCS in Feb this year so i have no idea why they would send this letter now. I am going to write to them and tell them that I do not recognise the debt and the Nationwide debt that I originally had has been paid off. Can you give me any further advice?

FakePlasticTrees

Sapphire1 wrote: »

Hi, I am new to this forum. Hi to all! I was hoping that I could get some advice as I just don't know what to do for the best.
I have debts that I pay every month which I've never defaulted on. I sometimes pay the minimum on my credit cards, and sometimes I pay a bit extra. I can pay for the other necessities such as food and petrol, just as long as I don't incur any 'unforeseen' bills, and tend to plod along. I don't go out, I don't buy clothes unless necessary, in fact I don't do much really. Even though my bills and food are paid for, I have nothing left to do anything else. What would you advise? That I continue this way until the debt is paid, baring in mind I am not in arrears, or do I need to go down the Debt management route?
I realise the consequence of a DMP ie no credit, but on the otherhand, I will get my debt paid and actually have a life! My debts are about £28,000.
Please help!!

Hi Sapphire - and welcome to this forum. I'm in a similar position to what you explained so well. I can make my monthly outgoings plus minimum repayments plus a bit extra but the debt mountain is so huge at 49K for me and a few of the card's interest rates are extortionate that it will take a very long time to pay off. Not to mention if anything goes wrong.

I have rang Payplan to see what they suggest but am interested to see if CCCS will do a debt management plan. Like you I want my life back.

insider66

insertname1981 wrote: »

Quick question:

We have a Northern Rock Together mortgage including 100k secured and 25k unsecured.

We also have another 25(ish)k of unsecured.

What sort of offer will northern rock accept for an IVA? Ideally we would like to offer about 40p in the £.

Many thanks

you might want to take a look at this:
http://myvesta.org.uk/articles/articles/3920/1/Northern-Rock-and-the-Fake-Individual-Voluntary-Arrangement-IVA-You-Wont-Believe-This/Page1.html

i doubt it's what you wanted to hear, but better to be fore-warned.

sacbaby37

Hi Sarah, i have been having debt management ith the cccs for 6 months now and everything has been going good, i can now sleep at night. A friend of mine suggested that i reclaim my credit card charges back, as it was these that got me deeper into debt in the first place. Can i do this while the cccs is dealing with these companies for me? Thanks sez.

rugbymum

I want to ask a quick question. One of my creditors hasn't stopped charging interest & late fees. I now owe more than when I started on my DMP. I really really want them to default me so that the charges will stop. Will CCCS stop paying them if I ask them to? Or should I take the company off my list of creditors till the default happens & then put them back on?

FiFo_3

Hi
After trawling the forum on here, i filled in the the online debt remedy form about on cccs and i am a little confused as to what i do next. Amongst other things i have an overdraft of £600 which seemed to default to £30. Am i not to pay my overdraft off only pay the £30 and still pay the minimum payments on credit cards, store cards etc , i wonder if i am better ringing cccs, i thought i would be advised to have an IVA or is this only advised once you have spoken to your advisors? I think i deperatly need help i am left with not a lot to live on every month. Very confused. Any advice would be appreciated.

Aeshna

Hi Fifo

I noticed the same thing when I did the online debt remedy, but understand that what the calculator has done is, in your case, allowed a contractual payment of £30 towards your overdraft facility. I assume the CCCS have a preset calculation to work out a monthly repayment figure for overdrafts, since there isn't actually a contractual payment. You will still owe a total of £600 to your overdraft, but effectively, if you do a DMP with them, they will apportion an amount to go towards your overdraft, based on a percentage of the £30 they've calculated. Hope this makes sense!

Aeshna