CCCS Query

dannynixon

Hello,

I am on the beginning of the DMP route (I think) with a CCCS counsellor ringing me back later to go through SOA etc. I have already given them a list of debts and priority bills over the phone and already have a reference number.

I have about 18.5k's worth of debt but I have 5 creditors with smaller amounts (under £500)

I know that CCCS are not keen on you making payments to creditors other than pro-rata payments but if I managed to tuck away a bit of cash, is there anyway I can offer these smaller creditors full and final settlements while in a DMP with CCCS. Ie, would they kick me off the plan for preferrential payments?

Thanks, Dan

gargrave50

Wait until the DMP is up and running, by receiving reduced payments for a while, many small creditors will receive a F&F more favourably I would think.

CCCS won't "kick you off" the plan, but be honest with them and tell them you have received a "gift" which allows you to make a F&F to one of the small creditors. If they accept the F&F inform CCCS straight away. They will take that creditor off your DMP and redistribute the money amongst the other creditors

debtmuncher

hope you dont mind that i have asked questions too cos your post has got me thinking. xx

can you offer a full and final settlement to any one creditor on your list? have a couple at the £200 mark so would like to offer them something.

dannynixon

gargrave50 wrote: »

Wait until the DMP is up and running, by receiving reduced payments for a while, many small creditors will receive a F&F more favourably I would think.

CCCS won't "kick you off" the plan, but be honest with them and tell them you have received a "gift" which allows you to make a F&F to one of the small creditors. If they accept the F&F inform CCCS straight away. They will take that creditor off your DMP and redistribute the money amongst the other creditors

Brilliant, cheers Gargrave. I will make sure I wait until I get onto it. Thanks again :T

debtmuncher

debtmuncher wrote: »

hope you dont mind that i have asked questions too cos your post has got me thinking. xx

can you offer a full and final settlement to any one creditor on your list? have a couple at the £200 mark so would like to offer them something.

also how do you start it off? let cccs know what you are doing or just go ahead and offer the creditor it?

gargrave50

You are very welcome.

I'm sure there is nothing to stop you making F&F straight away, however it may make them more susceptible to a low F&F if they get used to receiving pennies each month only to be offered with an offer of £s later!!!:D

gargrave50

debtmuncher wrote: »

hope you dont mind that i have asked questions too cos your post has got me thinking. xx

can you offer a full and final settlement to any one creditor on your list? have a couple at the £200 mark so would like to offer them something.

Hi debtmuncher, you can choose to make F&F to any creditor on your list. Ensure you start low around 25%, as its easier to negotiate up than down. Also make sure you keep CCCS informed, as if they accept they need to take them off your DMP and redistribute the money to other creditors. Make sure you use a good template with all the right terms in it.;)

gargrave50

Go ahead and make your offer specifying a timescale it is available for. Only once they accept should you inform CCCS. Always include that the money has become available due to a generous gift from a family member, so that they don't think you have been holding out on them stashing a bundle of cash!

debtmuncher

:kisses3::rotfl:

ta! where can i find the template? ment to be doing some painting but not possible since hubby didnt get the roller brush ! might as well do something else bar online scrabble lol

pippilala

If you go on the cccs website their is a template letter for offering a final settlement to individual creditors and it has advice on how to go about it.

debtmuncher

pippilala wrote: »

If you go on the cccs website their is a template letter for offering a final settlement to individual creditors and it has advice on how to go about it.

ta!

says if you have available funds it goes out to all rather than one specific creditor. i just want to pay one creditor! cant see £100 being shared out with 24 creditors!:eek::D