Should i stop paying creditors thru cccs now?

DON79

Hi, I am on a dmp with cccs just now and am going to be trying to save up towards BR fees. I am hoping that a bonus I should get from work in march will cover most of the fees.

from what I understand I have to pay


£150 court costs?

£395 BR fees?

life insurance 1 - £50 + £1?

life insurance 2 - £50 + £1?

BI in the mortgage - £211 + 1 for neg quity


Is this right?

I make it a total of £859. :eek:

My bonus will potentially be £825 before tax so I am hoping my husband can help with the extra I will need but just wondered if I would be better to keep paying the dmp or just stop and save up the extra money?

Thanks.

tigerfeet2006

If you have been advised to go BR then stop paying all creditors including your DMP. You can save the money from it towards the BR fees and possibly go BR earlier.

DON79

All that worries me is if I stop paying now, will it give time for creditors to get charging orders on the house before I can go BR and since we are keeping the house, it will mean I will still have the debts after going BR.

lxpeanut

March seems to be a long way away. I stoped paying to save up the fees and didn't get any hassel for 2 months. Now after 3 months they are starting to get a bit more insistant about the fact I'm not paying them anything and unfotunatly its still another month to my court date so I can see the next month being full of calls from my creditors. If you stop paying can you get the fees together any sooner than March? If yes I'd say stop paying if no you might want to think about at least making a token payment to keep them happy for a while. Its not really about paying more towards your debt which is a bit pointless when you are going bankrupt but having a quite life in the meantime.

DON79

Hi

are the fee amounts above correct?

Also, do i need to put down loans that have been settled on the soa forms? Or is the OR not interested in these because they are paid off?

What happens if I don't know the account number of a dormant savings account and can't find it? It's with ING and i get emails telling me I have statements but I know nothing is in the account so will the OR be interested?

DON79

Hi giving this a bump as I wanted to ask a question.

If I stop paying the cccs for my dmp at the end of january (planning to go BR in march) it will be 25th Feb before the creditors realise they are not getting a payment. Given that I have already been defaulted on these accounts, could the creditors take further action immediately? like ccj or bailiffs? Or would I just start getting nasty letters again?

I want to time it right so that I have time to save money for the fees just before and then I will have enough for the fees when I get my march bonus from work, which is why I am not going BR sooner.

Any thoughts at all?

peachyprice

Hi Donna,

By the time they realise that they're not getting paid at the end of Feb they won't have time to get a CCJ against you.

fermi

Unlikely that a creditor would immediately issue a CCJ claim form.

Even on the quickest timescale if a creditor immediately went for a CCJ you could extend or string out the time till any judgement by at least a month.

It would also be some time after that that the creditor could take action regarding any non payment of the judgement.

If it's just the matter of a month or two then in reality there is not a lot they are going to be able to do.

DON79

Another question. Will the OR contact cccs at all about my dmp?

I have been paying it. I just wondered how the OR would view my stopping payments to save for fees etc.

fermi

If you are simply on a DMP then the OR should not be contacting CCCS.

They won't mind in the slightest that you stopped payments to save for the BR fees either. They know these have to come from somewhere and there is often no other way.

DON79

Thank you, thought I had answers to most questions but silly things keep popping up/happening and I have to ask more. Thanks for the replies.