Struggling with debt? Ask a debt advisor a question

Stacey1986

Ok, sorry, let me re-phrase that. The banks and lenders give a "charitable donation". Therefore, their priorities still remain with the banks/lenders and not you.

Grumpelstiltskin

Stacey1986 wrote: »

Ok, sorry, let me re-phrase that. The banks and lenders give a "charitable donation". Therefore, their priorities still remain with the banks/lenders and not you.

Stacy as a new member what's your interest?

You don't happen to work for a debt management company that charges do you?

If so then explain the advantages of being charged for something you can get for free from charities.

Stacey1986

I was just browsing and came across this discussion. It caught my eye as a lot of people seem to think they are safe with the CCCS. I actually found myself in a bit of financial difficulty a few years ago after being made redundant. I was advised by Barclays to go to the CCCS and stupidly I did. They advised me to enter in to an IVA. However, after researching it myself I learned that in actual fact, because I had a property my house would have been put at risk if I followed their advice. I opted for a debt management plan with them instead. However, as they are so large they had no time for me. I recieved endless calls and letters from my creditors and my balances increased as they didn't bother to get interest and charges frozen. I have since gone down another route and have managed to sort myself out, thankfully.

catlover32

Hi Pavan- thanks for the help. I've been online this evening and used debt remedy, and it's very clear and helpful. My only question is, for the sake of the 2 months I can't pay, will I be able to set up a Dmp for this time only? Or will it kind of carry on when I go back to work, but with me being able to pay more as my circumstances have changed?
Thanks!
Cl

StepChange_Pavan

Hi Stacey1986,

Thank you for your posts.

Rather than passing on our costs to you through fees on top of your debt, CCCS is a charity funded by “fair share”. This means that creditors voluntarily donate a contribution to our costs. This contribution reflects the debt help we provide to people without charging them any additional fees. Everything we provide our clients is free, confidential and impartial, from our initial debt advice to our ethical repayment plans.

You can read more about our funding on our website:
http://www.cccs.co.uk/Corporate/Supporters.aspx

No charity or fee-charging company or agency can freeze the interest on a debt. Only a creditor can make this decision. However because we have close relationships across the industry we strive to freeze interest in as many cases as possible.

If you’d like to talk with our Client Liaison Manager about any issues you had during your time with CCCS, either with the proposed IVA or the DMP, then I’ll be happy to send your details to her if you send them through by private message.

Regards,
Pavan

cymro77

Hi some quick advice needed please. I used to have debts of over 35000 but after selling my share in a house paid off all but 12000. I paid off 1 creditor in full as they were being the most unhelpful.

After this I had 8000 left with Tesco and was able to restart paying the loan back at the normal monthly payments of £142 per month. I had missed 3 months payuments when I was having the most trouble so not a massive amount of missed payments. I yesterday received a letter from them asking me to resubmit my SOA to show that this was still an appropriate repayment plan for the loan. I have sent this yesterday.

I phoned them and they said because of the 3 months missed payments the loan was passed to a different department to sort out but he seemed happy that as I had made loads of monthly payments without a problem since the 3 months I should be able to carry on paying the £142 a month.

Do people think ill have a problem with them as I like to have peace of mind. I only missed 3 months payments and the amount im paying is the agreed amount as of the start of the loan.

Many thanks in advance.

StepChange_Pavan

catlover32 wrote: »

Hi Pavan- thanks for the help. I've been online this evening and used debt remedy, and it's very clear and helpful. My only question is, for the sake of the 2 months I can't pay, will I be able to set up a Dmp for this time only? Or will it kind of carry on when I go back to work, but with me being able to pay more as my circumstances have changed?
Thanks!
Cl

Hi Cl,

Thanks for your feedback about Debt Remedy – I’m glad you found it easy to use


You’re right that it might not be worth setting up a DMP for the sake of two months. However, it depends on whether you will be able to resume your monthly payments when you return to work.

If you think you’ll still be struggling, it could be worth setting up the DMP with the view to increase your payments once you go back to work. This way, if you still can’t quite afford the minimum payments, we can support you with your offers.

The other option would be to offer reduced payments by yourself for these two months, informing them that your situation should change in June and you will be able to pay more then.

I hope this makes sense, but if you need to discuss it in more detail, you could use our Debt Remedy instant chat function or email our web support team as they will have access to all your information.

Kind regards,
Pavan

StepChange_Pavan

cymro77 wrote: »

Hi some quick advice needed please. I used to have debts of over 35000 but after selling my share in a house paid off all but 12000. I paid off 1 creditor in full as they were being the most unhelpful.

After this I had 8000 left with Tesco and was able to restart paying the loan back at the normal monthly payments of £142 per month. I had missed 3 months payuments when I was having the most trouble so not a massive amount of missed payments. I yesterday received a letter from them asking me to resubmit my SOA to show that this was still an appropriate repayment plan for the loan. I have sent this yesterday.

I phoned them and they said because of the 3 months missed payments the loan was passed to a different department to sort out but he seemed happy that as I had made loads of monthly payments without a problem since the 3 months I should be able to carry on paying the £142 a month.

Do people think ill have a problem with them as I like to have peace of mind. I only missed 3 months payments and the amount im paying is the agreed amount as of the start of the loan.

Many thanks in advance.

Hi cymro77 and thanks for your post.

Ultimately it’s at their discretion, but provided that your income and expenditure supports your payments, you are already offering them as much as you can afford. It sounds as though they’re being quite cooperative and if you’re now able to maintain the minimum payments, they should be ok with this.

However, if there is extra surplus available in your budget, they may ask for the 3 months arrears to bring the account back up to date.

I hope this answers your questions.

Kind regards,
Pavan

Keith88

Hi there, well I am just curious to work out something with a big debt I have at the moment. I currently work part time, earning just under £310 a month.

I have a bunch of small debts (around 200-800, paying an average of £10-£20 on each debt) that are no trouble at the moment. The only one that is causing me trouble is a Catalogue debt of ~£3000. I have had problems paying them in the past and have defaulted a few times due to my bad income, but have been paying it now for a good few months.

The major problem I have with it at the moment is though, I am paying £70 a month and it is just unaffordable. I live at home with my parents but can't afford to pay anything to help towards the household or even get anything like food/essentials for myself etc. I am barely managing to afford to get to work and if I do not get overtime with my current job I fall short on it.

The £70 a month debt is with Moorcroft, who have been very forceful with me even though I've done the best I can to work with them. I want to call up and seek reducing it because of how I just can't afford it. I am not sure what to do, what can I do?

dean_warren

Hi I am/was struggling with debt, and found myself out of work last year, i worked in IT contracting, and could just about make my minimum payments, the CAB helped me while i was out of work, and did a great job, i was able to offer my 11 creditors £1 a month which the majority accepted, i easily owe in excess of 35k and although i am now working am on a lot less than i was possibly Half the rate i got 18 months ago, i have been offered a fixed term contract for 12 months, but am now getting hounded by the creditors again. i could do with an end to this and hope to start again.
I have seen DMP's or IVA's and i personally think that an IVA is the answer.
but am not sure i would meet the criteria. any advise would be a great help.
Thanks Dean