Ask a CCCS counsellor a question

cloudnine_2

Hi. Everyone I speak to say 'never' to disclose my mortgage ( interest only ) and home equity ( severe negative equity of £30K ) to a DCA. However, if my case went to court say for a charging order application, wouldn't this information given now to the DCA make them think twice about the logic of pursuing me in this way? Far better to come to a monthly payment ( DMP ) scenario? I'm wondering if to tell this DCA ( 1st Credit ) this information now, or, later, should they pursue me for a charging order or issue a stat demand. I'm prepared for either. Early days.

Stuckinarut

I set up a DMP 2 months ago, and have now set up all my bills onto Direct Debit to keep me in control.

After I transfered money to cover my bills and spent £70 on shopping for a month and £40 on petrol I was left with £50 to live on, and this was to include petrol for another 3 weeks and any bread/milk and to generally have some sort of life.

Am I able to just phone CCCS and get a review done or do I need to arrange a suitable time, as its coming up to that time where I will need to think about my next payment.

monkeyintrouble

Hi, I set up a DMP with CCCS recently, made my first payment which is due out to the creditors next week. Two months prior to this I made token payments to all my creditors after informing them I was struggling with my finances.
All the creditors are well aware of my current position as I have written to all of them, and I assume CCCS have too. Problem is, I am still getting statements asking for me to pay up arrears, lots of pnone calls, although these seem to be dying down a bit now. I am getting worried as far as the constant letters and demands for money are concerned. Do I keep writing back and telling them I am on a DMP as already informed, do I ring them or do I just ignore them? Any advice would be appreciated.

CCCS_Matthew

miksu wrote: »

I really need some advice

My business went into voluntary insolvencey and my house was sold may 07 as a result. I presumed a secured bank loan was repaid at this tme ( i'd given my solicitor written details of this debt ) 4 months later the bank contacted me for payment
To cut a long story short i ended up with my conveyancing solcitor writing to me advising she was forwarding the matter to her insurance company. I'd sought legal help and they had advised she was negligent and that we would take this up with the law society

This was 18 months ago I've heard nothing fromthe bank until today. i have received a threatening letter from a debt collection agency persuing the sum. I don't understand why now? I thought this had been dealt with. The bank have had my mobile number for 18 months ( its not changed ) and i've had my post re directed via royal mail for 15 months and heard nothing

Isn't that the point of a secured loan ? That its secured against your property and guaranteed to be taken at source from the equity.
Please help I am worried sick and would be grateful for any advice

Thanks in advance and sorry this is long

Miksu

miksu wrote: »

I really need some advice

My business went into voluntary insolvencey and my house was sold may 07 as a result. I presumed a secured bank loan was repaid at this tme ( i'd given my solicitor written details of this debt ) 4 months later the bank contacted me for payment
To cut a long story short i ended up with my conveyancing solcitor writing to me advising she was forwarding the matter to her insurance company. I'd sought legal help and they had advised she was negligent and that we would take this up with the law society

This was 18 months ago I've heard nothing fromthe bank until today. i have received a threatening letter from a debt collection agency persuing the sum. I don't understand why now? I thought this had been dealt with. The bank have had my mobile number for 18 months ( its not changed ) and i've had my post re directed via royal mail for 15 months and heard nothing

Isn't that the point of a secured loan ? That its secured against your property and guaranteed to be taken at source from the equity.
Please help I am worried sick and would be grateful for any advice

Thanks in advance and sorry this is long

Miksu

Hi there.

If your house was sold, it is normal practice for any secured loans to be repaid with the equity after the mortgage has been repaid. Did you have enough equity in the property when it was sold to honour both the mortgage and the secured loan? Furthermore, did you sell the property yourself, or was it repossessed? If it was the latter, it’s likely that the house was sold for less than you would have got at a private sale, and costs incurred for having it sold by a third party will also have an affect on what’s available from the equity, so in this case there wasn’t enough equity to repay the secured loan.

You really need to take a look at all the paperwork you have from when the property was sold to see what the details are. Your best bet is to get back in contact with the solicitors to see what happened with the property when it was sold.

Regards,
Matthew.

CCCS_Sarah

blondieb wrote: »

hi im a newbie, before meand oh go the whole hog with our soa, we were wanting to know , what companys eg mbna llloyds halifax etc say when people go on a dmp, are they usually agreeable to this or is it a fight to get them to accept what is being offerd

blondieb

Hello,

There is nothing set in stone with your creditors. Some are more flexible than others and it really does depend on a case to case basis. Your creditors are much more likely to accept a reasonable budget, rather than one where there is a lot of excessive expenditure.

If your best option is to offer reduced payments, and you creditors did not accept the reduced amount, the key is to send the payments anyway. They can not get what you have not got to give them.

Hope this helps

CCCS_Matthew

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

Hello there.

I'm afraid this isn't really a question we would be able to answer. The amount creditors are willing to accept on an IVA would vary depending on your situation. E.g, if there a property involved, how many other creditors are involved etc etc. Is an IVA been something that's been advised by one of our counsellors are you just curious?

Matthew.

CCCS_Sarah

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!!

Thank you for your message,

I think you would benefit from an appointment. Your counsellor will be able to help you put together a budget that includes things like clothes and other priority expenditure.

Once you have a reasonable budget your counsellor will be able to see how much surplus is left over, and then see what your best advice is. If a dmp is not your best option, other options will be discussed.

If you would like to have an appointment please call 0800 138 1111 or you could visit our online debt advice facility by clicking on this link

CCCS_Sarah

starlite82 wrote: »

Hi all,

just wondering, when sending out the notification of a DMP to my creditors, should i put January on it? as im assuming that december is pushing it a bit!

If you have already sent your paperwork back it maybe December, as its now very close to the cut off. If you have not yet sent the paperwork back there is a good chance it will be January.

I would recommend that you call our processing team to double check.

I will PM you their number

Sarah

CCCS_Sarah

trixxi wrote: »

Quote:
Originally Posted by trixxi
Hi,
hope this is posted in the right place, here goes...
My husband and I have received a small claims summons each for work done by a garage to both of our cars.
The amount in total they are claiming is £344.10 which we do not dispute ( we had told them previously we were having difficulties and he accepted this, until now.) I contacted his solicitor as there is expenses and interest to pay over and above. The solicitor has come back with a total price of £697.10 which we can not pay.
The paper work is not all accurate and I am wondering why we have two separate charges for fees, sherriff officers delivering the forms, raising it fees and solicitors fees. The copies of invoices have both of our amounts on them, suggesting to me one account and not two individual ones. They also have our address wrong and postcode wrong, which is why we did not receive these letters recorded delivery and now we are being charged for the hand delivery. Is this fair?
I do not want this to go to court as my husband has just started a new job which involves passing credit checks, and this affecting it.
Please help.

Are you living in Scotland?
Yes we are in sunny scotland!

Hi Trixxi,

As I am not trained in Scottish law or debt I am going to forward your message to one of my colleagues in Glasgow, as soon as I get a reply I will let you know.

Sarah

CCCS_Sarah

blondieb wrote: »

if we go on a dmp. is it best to open up a joint bank account were our wages can go in and pay direct debits for mortgage etc,rather than our current account with a bank we have a large bank loan from, is it best to set up the account before embarking on a dmp
what is a good bank just for a normal account ie pay in and take ot

blondieb

As long as you open a bank account at a bank where you have no debts, any bank would be fine.

I have attached a link to a booklet that lists basic bank accounts.

http://www.moneymadeclear.fsa.gov.uk/pdfs/bank_accounts.pdf

Let me know how you get on.

Sarah