DMP question

PurpleAngel

Hello,
I was wondering if someone could help me.
I rang cccs the other day and have received my pack but I have a question.
I have 4 creditors, 2 of those being my bank. I can deal with my bank debts but what I am having trouble paying is my credit card and catalogue debts!!
Would cccs just deal with the credit card and catalogue debts? When I spoke to them on the phone I got the impression that they had to deal with them all at once.

Also if that was possible would or could the credit card and catalogue find out about my other debts and then demand more money because I am able to pay my bank debts? My bank debts are very manageable now, its the credit card and catalogue that are my problem!!!

Thanks if you can help!!

PurpleAngel

I dont want any trouble with my bank basically and I am worried about that!!
Like I say the bank debts are now manageable for me, I never never never never ever will be wanting credit again!! I hate it!!

katkins2

Hi,

If you enter into a dmp with CCCS you will have to include ALL of your debts including any overdrafts with your bank. All your creditors have to be treated fairly. You will also need to open a new bank account that is not connected to any of your debts and have your income paid into this. You will need to do this asap as your creditors connected to your bank won't think twice about helping themselves and they are legally allowed to do this.

Good luck;)

Numpty_Monkey

I totally agree with what Katkins has said

Include all your debts, open a non linked bank account
use these links to help you find a non linked bank
http://moneyfacts.co.uk/guides/money/who-owns-who-banks-and-savings/
http://www.stoozing.com/cards.htm
http://www.thisismoney.co.uk/savings-and-banking/article.html?in_article_id=440726&in_page_id=7

PurpleAngel

Thanks so much for your replies but this is what I didn't want to hear.
My bank debts are very low and very manageable so I don't need help with these and really don't wanna go through all the hassle of changing banks etc

What if I fail to mention these bank debts? :think::(

sillystudent_2

If your bank debts are pretty low and you've got a long-standing relationship with them you don't want to lose, could you not just pay it off before going into the dmp? If you've got some credit left on your credit card, could you not just do a balance transfer to your bank debt to pay it off? Once you've paid off the bank you can safely go into the dmp with CCCS without offending them! The only downside is I suppose this is a bit sneaky and unfair on the credit card company, but there's nothing they'd be able to do about it :cool:

Probably a way better option than not mentioning the debt I'd think

Xbigman

Write to your credit card provider and catalogue companies saying you are going into a DMP with CCCS and send them £1 a month in the meantime. Then pay off the bank debts over the next few months BEFORE starting your DMP with CCCS.

Be aware that you will get defaulted, so your bank will not be on your back but if you apply for anything with them it will probably be refused.
Regards



X