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CCCS_Sue

crystalclearok wrote: »

how much time has to pass before you dont have to pay old debts

Hi crystalclearok and thanks for your message

If you are referring to the Limitation Act then:-

If the debt is unsecured,(that would include all credit and store cards, personal loans, catalogues, finance agreements etc) then these are known as “simple contracts” and the limitation period is 6 years. Once the six year term has elapsed the creditor will be out of time or “statute barred” from suing for the debt if:

• The creditor has not already obtained a county court judgment (CCJ).

• You or any one else owing the money (on a debt in joint names) has not made a payment on the debt during the last six years.

• You have not written to the creditor admitting they owe the debt during the last six years.

If you are enquiring about secured lending or a priority debt then let me know as these have different criteria.


Regards
CCCS Sue

CCCS_Sue

Ricky38 wrote: »

Hi Alan.

Thanks for the information I had a feeling that it lasted approx
5 years, I was told just this week that once the inhibition had
run its term the pursuer had to re-apply to the issuing court to have the inhibition renewed, at their expense.
I would therefore have to be served another inhibition order by sheriff
officers which I haven't had.
The original inhibition is now nearly 7 years old and I have never heard
anything in this time since the original inhibition order was served.
How would I be able to check if this inhibition is still in force or if it has
expired and hasn't been renewed.

Ricky.

Hi Ricky

The Inhibition is effective for five years and can be renewed.

To find out if the Inhibition is still in force then you would need to check with the Register of Inhibitions & Adjudications

Hope this helps

Regards
CCCS Sue

Ricky38_2

Hi Sue,

Thanks for the reply, but my main point is if the inhabition had been renewed after 5 years , should I not have been served with official papers?

Regards, Ricky.

CCCS_Sarah

aceplay wrote: »

Hi,

I have a debt with littlewoods, which had difficulty keeping up to the repayments after my husband lost his job in October. They have since sent it to NDR which i have offered to pay them £10 a week which they have refused (over the phone). They are continuing to phone me asking for more which i cannot agree to. They phoned my last night and ask me what i was going to do about the debt and I said that I had offered them £10 pound and she said I had not I have been getting calls regular and they are also denying that. I just feel that i am getting harrassed by them on a regular basis, I don't deny i owe the money but they will not accept the amount I can afford to pay them what can I do now.

Thankyou

Hello,

If you can only afford to pay is £10 per week, send them this even if they say they are not accepting it. They will knock it off the balance anyway.

I have added a letter below that you can use to send to them about the calls. If they do continue to call, keep a log of all the calls (dates, times, people names etc) then you can look at taking this a little further.

Hope this helps

To whom it may concern




Dear Sir/Madam

I am writing to ask that you no longer contact me by telephone as your calls are causing me considerable stress due to the frequency, and that they are being made at inappropriate times. Please remove my telephone number from your database and send all future communication in writing to my home address.

I have provided the most recent copy of my income and expenditure to make you aware of my current financial situation. I will continue to make my payment of x on the x of every month and will keep you informed of any changes in my circumstances as I am keen to resolve this issue as soon as possible.

I understand that following this request if you continue to call I can contact the Office of Fair Trading to make a formal complaint.

Please confirm in writing that your records have been amended.

Yours sincerely

CCCS_Sarah

familytree wrote: »

Hi
We have managed to get our selves into debt of arount 30k, we own our own house priced at arount 150k. The debts are unsecured loans.
My husband had a Stroke at the age of 38 and has been on Incapacity Benefit since.
I have just lost my job and am now on JSA
The loans cost us £340 per month and we are now in the position of not being able to pay. with the interest rates being so low we thought we could get a small mortgage to cover the debt but have been unable to.
What do we do?

Hi Familytree,
I would advise against securing debt against your home. At the moment as the debt is unsecured, if you do get into difficulties you can offer reduced payments. If you were to secure the debt against the house and you got into difficulties this would put your home at risk.
If you are struggling with your payments you need to seek advice as soon as possible. If you would like an appointment with the CCCS we will be able to help you put together a budget and look at your possible options.
Do you own your house outright? If there is a mortgage on the property you maybe eligible for assistance with the interest – so this might be worth looking into.
If you would like an appointment please call 0800 138 1111.
Sarah

CCCS_Sue

leanne2402 wrote: »

Hi, as no one seems to know the answer, thought would try you guys. Does anyone know if overpayment on mortage is allowed whilst in IVA. Our mortage is going down by aprroz 80, but with increase everything else, this decrease is making up for the increase in gas/electrcity/car services/food/pet insurance/cousal tax/car insurance etc. But, as my payments are by standing order, and we have o proper paper work from NR to say payments are changing, can i over pay on it whilst in IVA (I'm doing overtime, so wanna try and get it down whilst can).


As its now SVR, i don't really wanna tell IP in change, incase it goes up again and we can't get our payments changed etc (changes to IVA were big, including having to have a creditors meeting everytime something is changed...with a chance of them changing mind and it being 6 years and not 5)

And help would be really greatful.

Hi Leanne2402 and thanks for your message

I can understand how you would want to pay off more of your mortgage now that the payment has been reduced, but, as an IVA is legally binding contract we would not be able to comment or give advice on this.
I would suggest you contact your Insolvency Practitioner and discuss this with him.
Regards
CCCS

CCCS_Sue

Ricky38 wrote: »

Hi Sue,

Thanks for the reply, but my main point is if the inhabition had been renewed after 5 years , should I not have been served with official papers?

Regards, Ricky.

Hi Ricky

I am not sure on this one but if you can get in contact with the Register of Inhibitions and Adjudications I am sure they will be able to advise on the process as everything has to be registered there.

Regards
Sue

CCCS_Sarah

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 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?

A dmp will have some affect on your credit rating as you will be offering reduced payments and not sticking to the terms and conditions of the original agreement i.e. the creditors may record default notices and CCJ’s. Generally the more of a risk you are to the lender the higher rate of interest you will pay

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.

At the CCCS we would not advise anyone to secure debt against their homes, as if further down the line you were to get into difficulties this would put your home at risk.

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

During the initial appointment the counsellor will put together a budget that will allow for sundries and emergencies. If when you are on a plan an unexpected cost arises, then we would recommend that you let us know and then we can discuss this in detail. For example you could offer a reduced payment for that month rather than using credit as the point of the DMP is to get you out of debt not increase the amount

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

This sounds like a balloon payment on a PCP agreement, once you get to the end of the term you would have 3 options with the finance company (hand the car back, refinance the balloon or pay the amount of in full).

We would review this on a case by case basis as generally the balloons are for a large amount. If the car is an essential cost then we do take this into account

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

CCCS_Sarah

Moany_Money wrote: »

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.

Your first payment would need to be at the PO, all other payments after then can be done by DD – if that is easier for you.

Sarah

CCCS_Sue

alanwilliams wrote: »

I have unsecured debts of 51k spread among three bank loans, three credit card companies and a hire purchase agreement. I'm self employed and married with two children and live in rented accommodation. All the debt is in my name only.

I'm currently paying £1000 per month to service this debt with another £500 per month for outgoings paid by with standing orders. This does not include food, petrol and day to day living expenses.

I work in construction and contracts have been non existent for the last eight weeks. I have enough to service this debt and to live with for another two months. I know that after that I will begin to start defaulting on these loans so I'm beginning to get worried now that this will happen.

In your opinion what would be the best option for me. I'm inclined to declare my self bankrupt because this debt has been building up for the last eight years or so with taking out loan after loan to consolidate existing loans.

Many thanks for any advice you could give me...

Hi alanwilliams and thank you for your message

Bankruptcy is not always the best solution and without looking at your full situation it is difficult to give advice via email
If you would like to speak to a debt counsellor about your situation you can call our free helpline on 0800 138 1111. The counsellor will help you put together a budget showing your income and expenditure and then look at all options you could consider.

Regards

CCCS Sue