Struggling with debt? Ask a debt advisor a question

B17c

Hi Sue and Pavan, thank you for replying to my posts so far!
I have had letters from 3 of my creditors accepting the offer of reduced payments, however the 3rd creditor, which was my bank, have also said they plan to amalgamate my balances (o/d and loan i assume)and that they will send me a Consumer Credit Act Agreement form that i have to sign and return within 7 days or the agreement will be invalid and they'll take further action.
Is this letter safe to sign or am i going to be tricked into signing for something they can then use my signature for etc?!
Thanks!

scottish_stresshead

HI

I really hope someone can help me..im at my wits end...can't sleep some nights for worry about how im going to get out of this mess..well its not really a mess compared to somepeople ...but i rung up a £1000 overdraft with halifax bank of scotland and also got a £100 with them...they increased the overdraft slightly so i would still be within a "arranged" overdraft and only have to pay the arranged fees per month which is £1 A DAY....so only £30/£31 a month...

tonight i checked my online accounts..first time in ages and so glad i did...ive found out im being charaged both the ARRANGED fee AND the UNARRANGED fee so sometimes a lot of charges for BOTH my accounts which like i said are both in arranged overdrafts

what do i do??? i feel im goin round in vicious circles!!!

Jacey53

I have 5 creditors and have been on a DMP with CCCS for 10 months.
At the rate the DMP allocates, one of my debts will be paid in about 4 months - the others have some time to go.
When this one debt is cleared, will CCCS reallocate the amount I pay in without reference to me, or do i need to do anything?

Also this debt is a loan, for which i get a receive only an annual statement - what happens if it is overpaid with a monthly allocation of funds? or should i be contacting teh bank now for a monthly update?

Any advice appreciated.

zillyboy

CCCS_Sue wrote: »

Hi zillyboy and thank you for your message

Your council tax arrears are one of your main priorities and need to be paid before any other non priority debts you may have such as unsecured loans, credit cards, store cards etc.

It is important to keep paying something rather than nothing.


I would recommend that you call for an appointment to speak to one of our counsellors about your situation on 0800 138 1111. The counsellor will put together a budget showing your income and expenditure and work out an amount you can realistically offer towards your arrears. They will then discuss your options.
Most of our appointments are done over the telephone and a counsellor will call you at a time that’s convenient for you.
We have some offices where you may be able to have a face to face appointment. The advisor can discuss whether there is an office near you when you call.

Kind regards
Sue

Sue
Thank you for your reply. I have spoken to CCCS and had a budget sent to me. I then in turn made sure that I kept in contact with all my creditors. Strangely enough I sent a letters to all of my creditors and one of the bailiff companies responsible for collecting my debt has sent the case back to their clients. I faxed and sent hard copies registered post as a record.
Now it seems like I may have reduced outgoings. Once I get these figures back and details to make payment (No cheque book) then I will get a DMP sorted out.

Thanks again.

dandan2121

is there a minimum ammount of debt that you can have to go into a dmp with the cccs????

Thanks x x

stretched_2

I've been on a dmp with cccs for3 years now, at each of my last 2 reviews my payments have increased, but the last one my payments have had to be dropped. I was told by the advisor that if I couldn't increase my payments by next review they would have to let me go. What do I do then? I'm getting really worried about what will happen.

abi1811

Hi,
I don't know if anyone can help me. I recieved CCJ papers from Northampton County Court on friday regarding a debt with Nationwide which is being dealt with by Bryan Carter solicitors. I had a phone call from BC on Thursday informing me that these were on there way, before this they had not contacted me for nearly a year. They have said Nationwide would be willing to accept £300 to clear the debt (the debt stands at £455 including court fees). I can only raise £200, what do you think my chances are of them accepting this?

The alternative is to dispute part of the claim as it resulted from £18.67 of unpaid S/O which I didn't notice (i stopped using the account the month the charges were first applied) for 6 months, but when I checked my statements and realised (the debt was now £144) I contacted Nationwide and offered to pay £5 as it was all I could afford at the time as I am also paying a DMP. Nationwide refused my offer and said they would continue to add charges until the account was no longer overdrawn, which they did until the debt was passed to frederickson International.

I don't know if any of this makes sense but would be grateful for any advice on how to deal with it. Thank you.

Mrs_Arcanum

Just wondering why I have not had a response to a question I sent via my CCCS account log in 5 days ago?

hopefully1983happy

Hi,

I wondered if you had any advice. I would like to start a DMP, however I am a trainee accountant with the association of chartered certified accountants (ACCA). I have tried to find out with them if having a DMP effects whether I can continue to train with them, however they couldnt answer me on the phone. I know there are some restrictions with the ICAEW but dont know about the ACCA. Do you know if there are any restrictions you have dealt with before?

Also, I am due to qualify in 2013 and my income should double (then I wouldnt be in this mess) - what happens when your income goes up, do you need to renegotiate the payments again?

Thank you

puskas

Hi,

My question relates to my late father, who died just before chistmas.

He was in some amount of debt and as a result had a bad credit rating. This resulted in me taking out a loan in my name, which he then used and payed the money to me monthly by direct debit for me to service the loan with. He didn't want me to be left with the loan should anything bad happen to him so he took out life insurance for the loan amount.

9 months after taking out the loan he died. Now I'm in the process of claiming the life insurance policy, however there's a large "but".

He also had several credit cards, owing more than the loan in total. He had no other money when he died, but did own the house jointly with my mother. I realise his half of the house passes to her but will the credit cards be expected to be paid out of that life insurance? Or can my mother as the executor of the estate decide that that money goes to paying off me as another creditor? She says that was what the money was meant for and that's what she intends to do, but is that wise? If she pays off my loan can the credit card companies (who she intends to come to an agreement with separately) then try to get that money back through the courts?

Thanks for all the great help you've been handing out btw, you're all stars!!