CCCS Advice

Helz184

Hi everyone!

Sorry if im repeating a thread but Id just like some advice if possible.

Im in contact with the CCCS, have my longer phone call next Tuesday.
Im in alot of debt and am hoping they can help, but it all just seems too good to be true, the though I may be debt free in a certain amount of years makes me delirious!!

Can anyone let me know the consequences of doing this?, I have no mortgage but really hope to own my own house in the future, so will need a mortgage, will taking help from the CCCS mean things like mortgages etc are out of the question for years to come?

Id really appreciate any help!

Helz x

southernscouser

Hi Helz.

Assuming you enter into a DMP with The CCCS then you will almost certainly receive defaults from all of your creditors. This effectively means you will find it extremely hard to get credit for the next 6 years (they drop off of your credit file 6 years after being issued).

This isn't a bad thing though as part of your agreement with the CCCS will be not get any more credit! Not sure if this applies to a mortgage though.

However, I'm assuming it will take a few years for you to become debt free and after that it gives the oppurtunity to save for a deposit!

Helz184

Thanks SC!

Thats really helpful, I know it sounds stupid, worrying if I can get more credit!but im self employed aswell so thinking for the future when things kick off I may need another loan from somewhere, but to be honest to be debt free would be better!

I'll have to check with the cccs person about mortgage etc.


Anyone else got 1st hand ex. with this sort of thing?
Thanks again!

Helz (not sooo confused now!)

karenharrison

You're saying what I'm thinking! Got in touch with CCCS today, longer phone call next week. However, would prefer to improve things by cutting back and paying more, without defaults or legal agreements. Just not sure how to do that! Any ideas?

lynzpower

Karenharrison

HAve you done an SOA for us ( see southern scousers "first time posters" sticky) thats got all the info you'll need so you can cut back & pay more.

Do that & lets see what we can do for you

THE_LONE_RANGER_4

it depends how much you owe etc when you will be rid of your debt,as for mortgage i wouldnt consider it until all your debts are gone you will end up with defaults and some cj they will be on your file for 6 years from date of issue, as for getting a mortgage high street will probably lend to you when your clear if they do not you will have to go to an urban lender who charge a higher rate but you will be able to transfer 12-24 months down the line to a high street lender etc but get rid of that debt first