Struggling with debt? Ask a debt advisor a question

CCCS_Sarah

wildthing12 wrote: »

Hi,

I currently have a debt management plan with 11 creditors that i am paying back a reduced amount.
Why is it, that only 3 of them have filed a default notice on my credit report?

Thanks

Hello,

Thank you for your message.

A credit can issue a default notice at any time after being two or more months in arrears. It’s really up to the creditor when they issue it.

Sarah

CCCS_Sarah

nolumfc wrote: »

I have used the debt remedy tool on the cccs website and it recomends a DMP.
It also says that i should set up a basic bank account so i/we have control of our money.

A couple of questions i hope you can answer for me please.

As the remedy was completed for myself and my wife, we both have debts in ourt own names and jointly, would i need to set up the basic bank account in joint names or /should i set one up in just my name?

Another question is to do with direct debits, all our payments at the moment come out of our seperate accounts and we are both incurring charges for late or non payment from the creditors and we are also getting charged by our banks for not having enough funds to cover the direct debit requests.
When i cancel the direct debits with my bank and the creditor attempts to draw from my account will i still be charged by my bank as well as the creditor ?

Thanks in advance

Nolumfc

Hello,

Thank you for your message.

You could open a joint account, or one just in your name. As long as you don’t have any debts with your bank.

You will just leave your current bank account as it is and switch over your priority costs to your new account. If there is an outstanding overdraft or charges these will get a reduced payment the same as any other debt.

Sarah

CCCS_Sarah

Ellieseleven wrote: »

Over the last two years we have accumulated a lot of credit card debt which we are now finding difficult to keep up with. My OH lost his job 4 years ago and set up as self-employed gardener but things have been very tough and we found ourselves using credit cards more and more to live on. This got to a stage last year where we were struggling to keep up with payments and in January this year I took a portion of my pension to try and get back on track. We are not in arrears with anything but we have now used up my pension money and nothing has really changed although my husbands business is now starting to take some money.

I don't think that I can keep this up for much longer and have read on these forums about entering into a pay plan which I think is our only alternative. We have a loan with our existing bank but also our business account is with them too. My question is if we move banks and enter into a debt management agreement what do we do about the business account? We use the business account to accept cheques from customers and also to pay for business insurance and advertising.

I am at a loss as to what to do next and any advice would be greatly appreciated

If your husband is liable for his business bank account (sole trader) I would still recommend he changes this as they may try and offset the money.

Have you already sought advice? If not, you could have an appointment with the CCCS. We can help you both complete a detailed financial statement and look at your options.

If you would like an appointment, please call 0800 138 1111.

Sarah

Aremess

Hello.

I have been advised to open a new bank account as it seems that I may be going down the DRO route. My question is, can I open one online and use their "Switching Service" to change all of my direct debits etc: The reason I ask is that I can open one online and get a free £100 if I use their swithing service and also get £45.00 by going through Quidco to open the account.

Regards...Richard

atroubled1

We need help...
I was moving my debt regularly between 0% cards until last year when I started to be turned down for these 0% cards and any low interest cards. Since then I've managed to meet the minimum payments but the balance is just growing due to big interest and using the cards for day to day expenses(about19K). I'm now paying £450 per month to 3 cards(minimum amt) and I have reached all my credit limits.... we also have a personal loan of £160 p/m due to finish next Oct 2011. My partner and I are both on OK salaries (50K between us) but just can't seem to make it all add up... we have 2 small kids and don't want them to do without because of our stupidness. I did a DMP with yourselves but have difficulty interpreting it all. We are a homeowner and are planning to see a mortgage advisor to see if we can add it to our debt but have already been told no by the progressive... will another company give a better answer? Our home is in desparate need of replacement windows...really they are going to fall out as the wood is rotten.... we need 3K for that aswell.... Where should we go from here.... we're getting so lost in all this. Any advice would be greatly appreciated.

unfairly_in_debt

im currently on maternity leave and have 2 children 10yr old and 6months, ive been a victim of blackmail where ive been forced to sign for a car on finance, i never saw the car again. ive told everyone i can but no one has helped so now im faced with £26k of debt.ive tried to dispute this with the courts but have already recieved court fines and a charging order on my house. i dont want to lose my house as i have no idea where i will go if im forced to go bankrupt, im scared everyday of recieving letters and demands from the courts.im scared of leaving the house and answering phonecalls, this has made my life hell and i just dont know where it will end. would i qualify for an IVA or some other kind of debt plan? if i cant pay will they take my house?? plz help!!!!!!:mad:

brooks402

Hi

I have borrowed money from my brother to pay off loads of little debts i have and that are now with debt companies. I am paying most of them off a little each month, but have decided that i want to get them all paid off so that i can just pay out one monthly payment.

I know i can offer them less than the full debt to pay it off but can you tell me how much i should be offering? Is there a min % that they will accept?

Many thanks
Lorraine Brooks

CCCS_Sarah

Aremess wrote: »

Hello.

I have been advised to open a new bank account as it seems that I may be going down the DRO route. My question is, can I open one online and use their "Switching Service" to change all of my direct debits etc: The reason I ask is that I can open one online and get a free £100 if I use their swithing service and also get £45.00 by going through Quidco to open the account.

Regards...Richard

Hello,

You will have to make sure that only your priority direct debits get switched over for example mortgage, council tax, gas and electric.

Sarah

CCCS_Sarah

atroubled1 wrote: »

We need help...
I was moving my debt regularly between 0% cards until last year when I started to be turned down for these 0% cards and any low interest cards. Since then I've managed to meet the minimum payments but the balance is just growing due to big interest and using the cards for day to day expenses(about19K). I'm now paying £450 per month to 3 cards(minimum amt) and I have reached all my credit limits.... we also have a personal loan of £160 p/m due to finish next Oct 2011. My partner and I are both on OK salaries (50K between us) but just can't seem to make it all add up... we have 2 small kids and don't want them to do without because of our stupidness. I did a DMP with yourselves but have difficulty interpreting it all. We are a homeowner and are planning to see a mortgage advisor to see if we can add it to our debt but have already been told no by the progressive... will another company give a better answer? Our home is in desparate need of replacement windows...really they are going to fall out as the wood is rotten.... we need 3K for that aswell.... Where should we go from here.... we're getting so lost in all this. Any advice would be greatly appreciated.

Hello,

Thank you for your message.

I would recommend that you have another appointment with the CCCS so we can look at your options. I would not recommend that you secure any money against your home as if you got into further difficulties further down the line this could put your home at risk.

For your windows, you could see if there are any energy grants you could apply for to help you with the cost.

If you would like an appointment, please call 0800 138 1111.

Regards
CCCS

CCCS_Sarah

unfairly_in_debt wrote: »

im currently on maternity leave and have 2 children 10yr old and 6months, ive been a victim of blackmail where ive been forced to sign for a car on finance, i never saw the car again. ive told everyone i can but no one has helped so now im faced with £26k of debt.ive tried to dispute this with the courts but have already recieved court fines and a charging order on my house. i dont want to lose my house as i have no idea where i will go if im forced to go bankrupt, im scared everyday of recieving letters and demands from the courts.im scared of leaving the house and answering phonecalls, this has made my life hell and i just dont know where it will end. would i qualify for an IVA or some other kind of debt plan? if i cant pay will they take my house?? plz help!!!!!!:mad:

Hello,

I would recommend that you try and seek some advice from the police with regards the blackmail as this is something that needs to be dealt with.

With regards your debts, I would recommend that you have an appointment with the CCCS so that we can look at your options. If you would like an appointment, please call 0800 138 1111.

Regards
Sarah