Ask a CCCS counsellor a question

Moany_Money

Hiya!
I've received my welcome pack from the CCCS along with the Post Office Transcash slip. I just need to know - Do I have to make the first payment using the slip at the Post Office then set up a direct debit, or can the first payment be made by direct debit too ?
Any advice is much appreciated,

Thanks.

raul69

Trig wrote: »

I have been in contact with CCCS about a DMP a while ago, but I would like to confirm / know how it affects your credit rating and in particular the points below.

1. When you come to the end of say a fixed rate mortgage and you wanted to move to another rate - are there any issues with this if under a DMP?

2. Would you be able to remortgage at some point in the future if still under a DMP? If house prices went up again, it would maybe allow additional borrowing to reduce/remove the debt.

3. Are you able to get any credit under a DMP e.g. a small credit card limit for emergencies?

4. I need to make a final payment on my car in about 18 months of about 5K? How would that work?

I would appreciate some advice ASAP, as I have been offered a loan to clear all debts but that would last 15 years and probably costs more than the payments to DMP.

Thanks

I would like to know this as well, if anyone can help?

STSAVER

Hi all.

Just wondering if anyone can offer any advice (or even just some re-assurance) as to how best to deal with MBNA when it comes to actually trying to get some sense out of them when it comes to discussing the possibility of a reduced payment plan – or even just to get reduced or frozen interest charges.

Background

Obviously, given that I am trying to obtain reduced payments this is as a result of me getting myself into too much debt, strung across various different credit cards and a minor loan balance which will be fully repaid in the coming months then throw in a change to job circumstances meaning it costs me a fair bit to get to work each day it means I cannot afford to meet all of the minimum repayments and MBNA is the one that has fallen behind now (2 months behind repayments on two cards with them).

I have put together an exhaustive Income and Expenditure statement which detailed
- Salary Income
- House and home costs (which detailed every single payment that my wife and I must make each month to keep our house running)
- Creditor payments (full listing of all minimum payments currently expected along with full balances outstanding to each creditor)
- Travel expenses (which included a breakdown of three months worth of fuel expenses I’ve incurred)

I have sent letters to MBNA twice now including the Income and Expenditure statement and requested for a reduced payment plan to be put in place to a manageable level for my circumstances until I get into a position that I can increase the level of payments (such as when the loan repayments cease in a few months time).

When subsequently speaking to MBNA I have had various different reports as to what can be done to help me as well as dealing with some people that have been quite degrading in the manner with which they have spoken to me.
The “advice” I have received from them have ranged from
– 12 month reduced payment plan could be done (if I gave them full I&E details – which I’d already done)
– they don’t offer reduced payment plans unless I take default on the account and enter into full payment plan with them
– have I thought about a secured loan against my house
– why don’t I apply for a new credit card and just transfer the balances (to which I explained that my credit history is bad enough as it is…. But this was greeted with comment verging on “so what”).
– We can offer reduced interest if I supply full I&E details to them (which I had already done)
– They can only offer something to me if I also supply them with details of my wife’s income and expenditure (she is not on any of the credit card accounts in my name)

The latest call was left with me saying I would have to phone back to run through details of all my household bills (despite the fact that I told him the I&E statements I sent in detailed all of this).

I sent exactly the same information to Egg who were very helpful when subsequently speaking to them – and they even commented that the I&E information I had sent in was a great help to them as they rarely get as much detail from people.

Can any one offer any advice from either personal experience (or from working there maybe) of how best to get something sorted as I ideally want to get payments made each month to start repaying capital and get myself back on track as I am getting to the end of my tether with them now?

robgazi

Hello:

My title say's it all really, I'm expecting I am obligated to do so.

Is there some sort of template thats available?

Having had my CCCS interview it was felt by both parties that bankruptcy declaration is the best way forward

Thanks and all the best,

Robert.:cool:

o99

Weird,

I spoke to them just over a week ago and they were really helpful and accepted my offer (well they raised it by £2).

I think the guy I had was a bit dopey and I was making notes of everything he said and eventually I backtracked on stuff I said to allow it to go through.

I think it depends on who you get on the day.

Best of luck!

toostressestooeat

hello quite new to site so question is
can i use my credit cards still before i go bankrupt??
basically have managed to keep upto date so far but now cannot pay cccs remedy plan is to go br whilst sorting this out can i use my credit cards
thanks

smileymiles

Hi

My bank has cancelled my overdraft and all my direct debits because my salary was a week late (not my fault error at payment office).
As my salary was late I was over my overdraft limit. The bank called me to ask when my salary was going into my account and at that point I did not know it was going to be late, so I said within 2 days, he said that direct debits would be coming out but if my money was going in in 2 days that was ok.
But just to be on the safe side I looked at my account online the next day to find the bank had refused 3 direct debits. I then rang my office and was told of the error in processing salaries, so I asked my wife to pay cash into my account (from savings) to cover the amount over the overdraft limit and cover anything else. I was £600 under my overdraft limit when the cash was paid in.

I then rang the bank and told them I was paying the money in, I was told the cash must be in by 3.30pm that day and that I should ring once the money was in and the bank honour any direct debits and pay the ones which had been refused.

I checked the next day and the bank paid the direct debits with a bank payment quoting the references, but they cancelled all the direct debits that I have going out of my account.

The bank then proceeded to downsize my account cancel my debit card and when my salary went in take £200 out and put it in a savings account.

To say the least I am upset and have not eaten all week I have been with this bank 26 years and in all that time my salary has nver not gone into my account. I have an appointment with my local bank today and I hope I can sort it.

Can the bank treat me like this? with no notice no letter, not informing, prior to this. They have just renewed my overdraft facility 2 months ago.

I am so worried

Please help
Shaun

craig1194

Hi,ive recently been thinking about a remortage to a lower rate to free up some money to pay off my credit card,i would have to pay 5k early exit fee and this would take my mortage to 108k,my rate is 5.79% and my bank have offered 3.79% fixed for two years interest only,i have

1. credit card outstanding £5869
2. loan £8495 with default

I am finding it hard at the minute to pay any extra on the card to reduce the amount as im just paying the minumum amount mostly just interest.

The default on the loan is classed as a late payment,which the company have admitted it wasnt my fault,i was waiting for a direct debit mandate in the post to change the bank account the loan came from but the computer system they use did not realise this!! as such i now have a default on my credit file,as a result of this i cant change my card to 0% balance transfer and i dont want my credit file affected anymore by contacting my creditors and paying a reduced payment.

I have considered the following to free up some money and would appreciate any help with this as the stress this is causing.

1. Taking out any loan i can get to pay the loan and the card and have one payment to make each month
2. Increase the mortage and pay the debt off with that
3.Bite the bullet and try to pay as much of the card off as i can easch month


I have wrote to the loan company three times to try and get this default off my credit file but have had no help,as they say even though it was a computer error i still have a month that the loan wasn't paid,total injustice considering when i rang to pay over the phone while i was waiting for the mandate they refused to take a payment off me.I thank you in advance for any help with this matter.

craig1194

Hi,ive recently been thinking about a remortage to a lower rate to free up some money to pay off my credit card,i would have to pay 5k early exit fee and this would take my mortage to 108k,my rate is 5.79% and my bank have offered 3.79% fixed for two years interest only,i have

1. credit card outstanding £5869
2. loan £8495 with default

I am finding it hard at the minute to pay any extra on the card to reduce the amount as im just paying the minumum amount mostly just interest.

The default on the loan is classed as a late payment,which the company have admitted it wasnt my fault,i was waiting for a direct debit mandate in the post to change the bank account the loan came from but the computer system they use did not realise this!! as such i now have a default on my credit file,as a result of this i cant change my card to 0% balance transfer and i dont want my credit file affected anymore by contacting my creditors and paying a reduced payment.

I have considered the following to free up some money and would appreciate any help with this as the stress this is causing.

1. Taking out any loan i can get to pay the loan and the card and have one payment to make each month
2. Increase the mortage and pay the debt off with that
3.Bite the bullet and try to pay as much of the card off as i can easch month


I have wrote to the loan company three times to try and get this default off my credit file but have had no help,as they say even though it was a computer error i still have a month that the loan wasn't paid,total injustice considering when i rang to pay over the phone while i was waiting for the mandate they refused to take a payment off me.I thank you in advance for any help with this matter.

Bella85_2

hi im new to this site so hopefully this goes right!
Well i feel like im sinking in debt i have so much debt i dont know what to pay off or attempt to pay first. the minimum payments are killing me and i have hardly any money to live on. i have a debt collector after me already and fear it wont be long before many more follow. I have approximatly £5,000 of debt and the charges are getting out of control. Please anyone with any advice please help i am going through citizens advice but i need help soon.
Thankyou x