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StepChange_Pavan

B17c wrote: »

Hi there, I have a DMP with CCCS and its seems to be going ok, i have recently moved and my flatmate is concerned that my debt will affect the credit rating for the flat (which she owns), if im registered at this address with the cccs will it affect the propertys credit rating? My mail is being redirected for everything else, including my bank statements etc and obv am not applying for credit. is there anything i can do so her/the property isnt affected?
many thanks!

Hi B17c and thanks for your post.

Provided that you are not financially associated in any way, your credit file won’t affect her or the address.

It would only make a difference if you had a joint bank account or she had acted as guarantor for one of your debts for example.

You could recommend that she applies for a copy of her own file to see what’s on there, to show that you won’t have affected it in any way.

This article is good at explaining how to do this and how credit files work: http://www.moneysavingexpert.com/loans/credit-rating-credit-score

Hope this helps.

Kind regards,
Pavan

bisselljk1986

Not after any advice (for once), but I'd just like to say I have spoken to a lovely lady called Kara from CCCS on the phone today and she has been a beacon of light!

Was physically shaking whilst dialling the Aftercare telephone number but she was so nice and incredibly understanding. Felt like she picked the weight up off my shoulders and chucked it away!

Thank you CCCS so much for being there!! :A

bumblepop1984

Hi there,

I'm not struggling as much as some other people on here, but i'd like to know which would be best...

I have the following debts:
£5700 across 2 credit cards (both at 20% apr)
And a £2000 overdraft

I can afford to pay about £500-600 off almost every month for the next year (during 2-3 of those months i'll need to pay for a £500 flight).

Is it best to split the money i can afford across the 2 credit cards and then move on to the overdraft after they are cleared. (I dont know how much interest that would cost me over 12 months??)

Or would it be better to get a £7000 personal loan if the bank agrees, and spend an extra £800 of interest paying that off?

What do you all think? I was looking at the barclays loans and it looks like a rigid repayment structure - which would make affording the flights difficult :-S

I'm just not sure which is best. Hope somebody can help.

Thank you x

Grantus86

Hi,

Looking for an answer if possible. I got a barclaycard credit card in June 2006 with a £1250 limit, it expired in June 2009 and i owe them just over £1500. I've set up a payment plan with them so i can make monthly payments to try get this down to £0. I'm still being charged interest per month estimated at £31. If i pay the minimum payment of £39 i'm only in effect paying off £8 a month!

So my question is, how do i freeze/stop the interest, if i can even do that, so when i pay £39 back a month £39 comes of the balance and not just £8.

Thanks
Grant

nickfezz

Hello, I am about to consider a DMP with the CCCS's help and was wondering how are the creditors when it comes to asking them to freeze the interest?

I am currently up to my neck to the tune of £34,000 and can no longer maintain the payments.

I hope you can help

fanky

asdasd asdasdasd

StepChange_Pavan

bumblepop1984 wrote: »

Hi there,

I'm not struggling as much as some other people on here, but i'd like to know which would be best...

I have the following debts:
£5700 across 2 credit cards (both at 20% apr)
And a £2000 overdraft

I can afford to pay about £500-600 off almost every month for the next year (during 2-3 of those months i'll need to pay for a £500 flight).

Is it best to split the money i can afford across the 2 credit cards and then move on to the overdraft after they are cleared. (I dont know how much interest that would cost me over 12 months??)

Or would it be better to get a £7000 personal loan if the bank agrees, and spend an extra £800 of interest paying that off?

What do you all think? I was looking at the barclays loans and it looks like a rigid repayment structure - which would make affording the flights difficult :-S

I'm just not sure which is best. Hope somebody can help.

Thank you x

Hi bumblepop1984 and thanks for your question.

It sounds as though you’re in control and are looking at your options carefully which is good to hear.

I’d recommend that you work out which will cost you the most in terms of interest and repay that one the quickest.

Instead of taking out a further loan (which could cost you more in the long term depending on the interest) you could consider switching to a 0% card. There is lots of information on this site which can guide you in terms of what you should do first. Here’s a link to a guide on 0% cards: http://www.moneysavingexpert.com/cards/balance-transfer-credit-cards

Whatever you decide to do, it’s important that you budget carefully to make sure that you don’t over commit yourself. Especially considering you need to afford the flights.


You might also want to look at your credit file to check the likelihood of being accepted for a loan/credit card: http://www.moneysavingexpert.com/loans/credit-rating-credit-score.

Hope this helps.

Kind regards,
Pavan

StepChange_Pavan

Grantus86 wrote: »

Hi,

Looking for an answer if possible. I got a barclaycard credit card in June 2006 with a £1250 limit, it expired in June 2009 and i owe them just over £1500. I've set up a payment plan with them so i can make monthly payments to try get this down to £0. I'm still being charged interest per month estimated at £31. If i pay the minimum payment of £39 i'm only in effect paying off £8 a month!

So my question is, how do i freeze/stop the interest, if i can even do that, so when i pay £39 back a month £39 comes of the balance and not just £8.

Thanks
Grant

Hi Grant and thanks for your question.

There’s no guarantee that they will agree to stop the interest or charges.

I’d recommend that you send them an up to date copy of your budget and a short letter explaining your situation. You can also ask for their consideration in stopping the interest and charges.

Hopefully they will see that adding more charges will not help your situation and will freeze them for you.

I hope this helps.

Kind regards,
Pava

StepChange_Pavan

nickfezz wrote: »

Hello, I am about to consider a DMP with the CCCS's help and was wondering how are the creditors when it comes to asking them to freeze the interest?

I am currently up to my neck to the tune of £34,000 and can no longer maintain the payments.

I hope you can help

Hi nickfezz and thanks for your post.

There’s no guarantee that we can freeze the interest and charges for you, but we will do our best.

I’m not sure whether we’ve already recommended a DMP as your best option, but if not, get in touch and we can explore all of the options that are available to you.

Hope this helps.

Kind regards,
Pavan

GravesySpurs

First post and don't know where to start as it's complicated. Wife left me in Sept 2009. Left me with 25k credit card debts and also the kids stayed with me. I have a mortgage in my name only with a secured joint named loan. I had no choice at the time but to sign up to an IVA to take care of the unsecured debts. Since Sept 09 my now ex wife has not paid a penny towards the joint loan. I tried claiming from First Plus who mis sold me a PPI but they were having none of it.Since I got solicitors to do the claim they have accepted liability and owe me nearly £30,000. They propose to drop the balance of the loan by £22,000 and pay a cheque of £8'000 (Yes it was a big loan :-(
The problem I have is that my ex wants half the cheque despite the fact that she has not contributed to the loan in any way. I will not accept this as i would rather have the cheque also go onto the balance of the loan. First Plus will not process the claim until this issue is resolved. I still owe my solicitors money for the divorce and cannot afford more solicitors fees.
I have put the house up for sale and there is equity in the house enough to clear the mortgage and also enough to clear at least 50% of the loan once the ppi claim is processed. First Plus are basically not happy with that and are making it difficult for me to sell the house as they want me to complete a shortfall loan application pack but because im in an IVA as far as im aware i cannot have any credit.
Im at my witts end and just want to hand the keys back to the mortgage company and walk away but am terrified of the consequences.

Any help and advice would be greatly appreciated.