Struggling with debt? Ask a debt advisor a question

System

kimbo1976 wrote: »

Thanks Mat

I also have a debt with Lloyds and i understand that Halifax are also part of Lloyds. Does the same apply, could Lloyds take money from my Halifax or do they have separate banking licences?

One other question, i received my pack last Thursday from yourselves but it didnt have the template letter enclosed where i can send a token payment informing my creditors i am going on a DMP with CCCS. I phoned CCCS on Friday and they said they would send me one out in the post but it hasnt arrived as yet (appreciate we have had the weekend) Just wondered whether you could email me a copy as i am keen to send the letter as payments are due out over the next few days

Thanks again

Hi Kimbo1976 and thanks for your reply.

Again the same applies really, it’s best to move to a completely unconnected bank.

I’m sure the paperwork is on its way but you can send me your email address by emailing through the CCCS website (you can find this in my signature) or by sending a private message on this forum to the CCCS.

I hope this helps.

Kind regards

Mat

System

sarahb7538 wrote: »

Help, I am currently in a DMP which the CCCS and it has been running for a while with no issues.

When i took on the DMP I had a phone contract with O2 that was running at £35 per month, i was tied in for 24 months. This came to an end in March 2011 and I cancelled this contract. As i need a mobile phone i downgraded to their sim only rolling contract at £10.20 pcm. Saving me more money as i have really been struggling with the cost of everything going up so much. I was given a new number as it was a new sim card etc. I have just had a letter today off one of my creditors wanting to review my payments as i have taken out a new credit line !!!

It makes sense now - of course i have but at the time it totally did not twig. Now i'm so worried I have jepodised my DMP. What should i do? I honestly only thought that i was doing something good reducing the amount I spend as PAYG costs an arm and a leg. What do i need to do to put this right.

Thanks in advance

Hi sarahb7538 and thanks for your message.

As you’re an existing client of ours you could give us a ring and/or forward the letter onto us.

I’m sure this is something that we can resolve.

I hope this helps

Kind regards

Mat

System

BlueArmy73 wrote: »

Hi there,

I am looking for some advice. I have managed to run up a few credit cards (Silly I know)
I have one which I never use anymore and havent activated the new card so I dont use it.
I am now struggling to meet the minimum payments on them all. It is getting to the point that I am probably going to have to miss paying some each month.
Is there anything I can do to get them to lower the payments or stop the interest? Interest is taking all the payment but £5 on one of them. Its like £55 interest and £5 off balance.
I am unemployed at the moment. My wife works but she has her own cards to pay.
Really starting to struggle here.
I was told by someone to send in CCA requests to all creditors, ideally I want to pay them off of course. But I am getting desperate.
I realise it would be handy to list earnings and outgoings etc, but at the moment there really are no earnings for me....
Any advice appreciated.

Mark

Hi Mark and thanks for your message.

I’d recommend that you get in touch with us so that we can look at your situation as a whole.

It might be that we can assist you in putting together a temporary arrangement until you have some earnings in place.

As you said the most important thing is to put together an accurate income and expenditure budget to make sure all your priority bills are being paid.

The first thing to do is visit our online debt advice service Debt Remedy (http://www.cccs.co.uk/ref/drcu) to help you find a solution to your debt problem quickly.

Debt Remedy will assist you in completing a financial statement with information on your household, employment, income, expenditure and debts. From this the service will automatically determine your options.

To help you fill in the form, it’s best to gather together information about:
• Your income
• Your expenditure
• The creditors you owe money to

You’ll receive a downloadable advice booklet providing a tailored solution for you based on your current circumstances and advice on ways you may be able to improve your situation.

If you’re not confident with computers or would like to speak to an advisor then you’re welcome to ring our free Helpline on 0800 138 1111. We’re open Monday to Friday 8am - 8pm.

If you phone us it may be possible to refer you directly to a counsellor for immediate advice. Alternatively, we will arrange for an appointment to be booked at a time convenient for you.

I hope this helps

Kind regards

Mat

lend_me_a_tenner_bud

Hello again, first of all thanks for the advice regarding the token offer letters.

I had a letter back off them, they could not accept my offer af a £1 a month which Is what I expected.

I am currently out of work and missed a few payments on my 3 unsecured loans that I have, which is £370 a month in total.

Loan 1= £1831.27 (£184.52 per month)
Loan 2= £684.99 (£110.35 per month)
Loan 3= £668.28 (75.25 per month)
TOTAL= £3184.54

2 of these loans are due to finish this year and 1 early next year, Ive recieved a Default Notice on all 3 loans for late payments.

Also recived a Termination Notice for my current account for going over the overdraft thats £732.19

Ive used the dept remedy tools online and three options were

Token Offer Letters, which ive sent and was refused, could offer them more but have no income so that would be a waste of time.And Its probably gone passed that stage anyway.

Dept Relief Order, I qualify for this so probably the next option, what happens if I apply for a DRO but then in a few months or even weeks i find work. Is it Scrapped and then I have to carry on making payments to the creditors?

Bankruptcy, because I qualified for a DRO this is not advised.

Its just a pity that ive almost payed back the loans, but having to make one of these choices. But thats it sh*t happens.

Anyway all advice welcome, im temped though with the DRO seems the best option.

Many Thanks
lend me a tenner bud

sidebarcarl

Hi all

I've been asked by my mother-in-law to help her and her boyfriend with some debt they have with Lloyds. I'll give you a brief outline and would appreciate any input.

They had a courier business a few years back which was liquidated as they feared HMRC were going to hit them with a 1.2 million bill for staff back taxes. The drivers had been self employed for 5 years. As a result they were left with debts of 97,000 with lloyds. Lloyds reduced this to 80,000 and knocked a further 10,000 off on receipt of a 30,000 payment made after they took out some equity on their house. This has left them with 40,000 debt, secured by a charge on their 2nd home.

They have an agreement with Lloyds that they will pay a further 30,000 when the boyfriend sells his flat and the remaining 10,000 charge will be removed from the property for the boyfriend to pay monthly.

This agreement was made at the time as they had an offer on the flat that would have left him with a clear 30,000. That fell through and the market collapsed. Now they have a new offer that will only leave him with 20,000. Do you think Lloyds will negotiate as they have already waited 2 years? I'm thinking of telling them to call Lloyds and say that they are thinking of refusing the offer until they get the better price and can pay the 30,000.

They can't really sell the bungalow as it is my Mother-in_laws only income...£675 a month. She gets £19 a year pension too. He has a job as a taxi driver but with the rental and radio costs only makes a small amount each month and sometimes makes a loss.

I really would appreciate your help.

Thanks

mr777_2

Hi, need a little help and guidance please!

I'm currently 4 years into a DMP with Payplan and have had no problems at all with any of my creditors since, i have not missed a single payment in 4 years and thought everything was going great until the other day.
I received a letter from Payplan about 2 weeks ago stating that NATWEST (my biggest creditor) had advised them of the balances of my accounts with them, some were different, and so they wanted me to verify them before anything was changed.
The 2 balances which were different were overdrafts i had with NATWEST.

Payplan estimated balance No.1 - £1000ish - NATWEST balance - £5500 !!
Payplan estimated balance No.2 - £400ish - NATWEST balance - £2700 !!

after getting up off the floor i have since found out that NATWEST have been slyly (IMO) adding interest and charges to the 2 accounts over the 4 year period, so basically my balnces have been rising rather than decreasing as i thought. I had actually reached the halfway point of my DMP and paid nearly £16000 off my debts up to this point. Obviously now i'm stunned to see that i've actually been increasing some of my debts.
I sent NATWEST a letter yesterday (recorded, signed for) asking them to remove the interest and charges over the past 4 years and also freezing them from this point onwards. I Wondered if you could advise me on what to do next if they disagree to do so?
Also, have you had any experience of this before and whats the usual outcome?

Any help/advice much appreciated...

StepChange_Pavan

lend_me_a_tenner_bud wrote: »

Hello again, first of all thanks for the advice regarding the token offer letters.

I had a letter back off them, they could not accept my offer af a £1 a month which Is what I expected.

I am currently out of work and missed a few payments on my 3 unsecured loans that I have, which is £370 a month in total.

Loan 1= £1831.27 (£184.52 per month)
Loan 2= £684.99 (£110.35 per month)
Loan 3= £668.28 (75.25 per month)
TOTAL= £3184.54

2 of these loans are due to finish this year and 1 early next year, Ive recieved a Default Notice on all 3 loans for late payments.

Also recived a Termination Notice for my current account for going over the overdraft thats £732.19

Ive used the dept remedy tools online and three options were

Token Offer Letters, which ive sent and was refused, could offer them more but have no income so that would be a waste of time.And Its probably gone passed that stage anyway.

Dept Relief Order, I qualify for this so probably the next option, what happens if I apply for a DRO but then in a few months or even weeks i find work. Is it Scrapped and then I have to carry on making payments to the creditors?

Bankruptcy, because I qualified for a DRO this is not advised.

Its just a pity that ive almost payed back the loans, but having to make one of these choices. But thats it sh*t happens.

Anyway all advice welcome, im temped though with the DRO seems the best option.

Many Thanks
lend me a tenner bud

Hi again and thanks for the update.

Even though your creditors have refused to accept your token payments you could continue to send these anyway, as that’s as much as you can afford at this stage. It’s not a good idea to offer more as you can’t afford to do this.

With regards to your other two options, you’re right that a DRO could be the better choice. However, it’s difficult for me to say as I don’t know your details. As you’ve already completed Debt Remedy, it’s probably best that you contact our support team as they have access to your information and can talk you through your options.

I hope this helps.

Kind regards,
Pavan

Tech_Noir

Hi,

I'm facing up to the fact that I can't pay off my debts every month. I've been in touch with Payplan today and they've opened a case for me and have told me to set up a new bank account which I'm in the process of.

Strangely my current bank where all my debt is has been in touch with me today and want me to go in for a meeting next week to try and help me. I told them I'd been in contact with Payplan and they said they'd like to see me first.

I'm not sure what to do I dont want to be offered any more loans by my bank i already have 2 and I cant cope with anymore.

Is it wise to visit my bank or should I let Payplan deal with it on my behalf? They sounded like they genuinely wanted to help me at my current bank.

My total debt is about £7,500 made up of overdraft £1,900, loans £3,300 & £2,100 and a credit card £400. My credit rating isn't good.

I can afford to pay back about £150 a month at the moment based on my wage and all other outgoings.

My husband doesn't know of my debt and i'm scared he might find out and leave me. I'm getting desperate. Nobody knows about my debt I feel so alone and ashamed of myself. Any advice would be appreciated. Thanks

............................

I just wanted to add this (below) as I'm feeling a little annoyed and needed to write it down as I cant tell anyone else!!

I went to the bank a week last monday for a bank meeting and the advisor was really nice and seemed like she could help me. She suggested I upgrade account as the payments were the same as what I'm paying for my current account overdraft. So I did.

She was then going to try and negotiate a better deal for me to consolidate my debts. So I stalled setting up my payplan account to see if this was possible. This was a week and half ago and still none the wiser I ended up calling the bank today to get an update. My advisor wasn't there but her manager spoke to me and rather shortly said there's nothing we can do for you at the branch and gave me a customer support number to call.

I called this and I was connected to a foreign call centre where I had to explain my whole situation again. In the end I got confused and frustrated and ended the call (pretended the door bell was ringing!).

So I'm going to go with a DMP from payplan which I was going to do in the first place, I feel they are much more helpful and friendly and can actually deal with people who are feeling vunerable.

I feel so annoyed with Lloyds as they have set me back 2 weeks sorting out my DMP. I know it's my fault I'm in this debt but Lloyds have been throwing loans at me for the past few years and when they've become too much for me to deal with they fob me off with a far away call centre. Very upsetting.

Sorry, I just needed to get this off my chest. I'm feeling in a much better frame of mind and have a positive feeling about starting to clear my debt with a DMP through payplan

StepChange_Pavan

sidebarcarl wrote: »

Hi all

I've been asked by my mother-in-law to help her and her boyfriend with some debt they have with Lloyds. I'll give you a brief outline and would appreciate any input.

They had a courier business a few years back which was liquidated as they feared HMRC were going to hit them with a 1.2 million bill for staff back taxes. The drivers had been self employed for 5 years. As a result they were left with debts of 97,000 with lloyds. Lloyds reduced this to 80,000 and knocked a further 10,000 off on receipt of a 30,000 payment made after they took out some equity on their house. This has left them with 40,000 debt, secured by a charge on their 2nd home.

They have an agreement with Lloyds that they will pay a further 30,000 when the boyfriend sells his flat and the remaining 10,000 charge will be removed from the property for the boyfriend to pay monthly.

This agreement was made at the time as they had an offer on the flat that would have left him with a clear 30,000. That fell through and the market collapsed. Now they have a new offer that will only leave him with 20,000. Do you think Lloyds will negotiate as they have already waited 2 years? I'm thinking of telling them to call Lloyds and say that they are thinking of refusing the offer until they get the better price and can pay the 30,000.

They can't really sell the bungalow as it is my Mother-in_laws only income...£675 a month. She gets £19 a year pension too. He has a job as a taxi driver but with the rental and radio costs only makes a small amount each month and sometimes makes a loss.

I really would appreciate your help.

Thanks

Hi sidebarcarl and thanks for your post.

They could try offering the £20,000 as Lloyds may be willing to accept this. If they won’t, their alternative would be to wait until they get a better offer like you suggest.

Kind regards,
Pavan

michelle45_2

Hi

I am in the process of getting my statements ready to send off to the CCS, however, when I looked at my wage slip I earn 3.00 more than I put down on the application form. Should I go through filling in the forms again on line, or just increase my bankers order by the 3.00.

Also, I have missed off a credit card should I just send that statement.

Your advice would be helpful.

Cheers
Michelle