Struggling with debt? Ask a debt advisor a question

s2kjames

CCCS_Pavan wrote: »

Hi s2kjames and thanks for your question.

You’re right that you won’t lose the cars provided that you have budgeted for them within your expenditure and can afford to keep these up to date. It’s likely that they term of your DMP will be reduced when these are repaid.

Your credit file will be affected by your DMP so you may struggle to get the best deal for your mortgage in the future.

We would recommend keeping all your creditors on your DMP and switching your account but I can see from your edit that you’ve switched your credit card. We wouldn’t advise you to clear your overdrafts before the DMP as this could be seen as preferential treatment and it’s not usually a good idea to open a new credit card when you know you can’t afford the repayments. If your creditors see that you have done this prior to your DMP they may be quicker to follow the debt collection process.

I’d strongly advise you to give our support team a call as they will have access to your information and can update your records – they’ll also be able to give you instant advice.

I hope this helps.

Kind regards,
Pavan

Hi thanks for the reply.

Just to be clear we haven't opened a new credit card. They are not maxed out so we had room on an existing one.

I guess moving banks is the best option then.

laura2481

Hi
I've recently started stuggling to pay my CC bills, making minimum payments- some late - and having to use CC for day to day stuff like groceries. It all got a bit too much when a 0% interest deal ran out and the min payment practically trebled. Everything is just strting to feel too much. No pay rise at work of any type for 4 years and now the company is looking shaky. I feel trapped by the debts as moving jobs would probably mean a pay cut and so I'm having to stick it out. Mortgage is on iterest only as we had intended to change to repayment mortgage but due to no wage increase can't afford this and worry constantly about increases in interest rates and the fact we have no savings to pay mortgage off (another 40 years yet but still at the back of my mind. Considering having a baby as at 31 time is marching on but there is no way to afford one right now. I feel like the debts are stopping me living my life. I have about £12k debt over 4 CCs and a loan. I am considering a DMP but is is possible to 'leave my husband out of it'. I don't mean not tell him, just so that creditors don't take his earnings into account. The debts are mine- not his. He is is fact mostly debt free having only a £1k overdraft he occasionally uses. We have a joint account for mortgage/ bills/ and groceries but other than that finances are sperarate. Basically, my debts are mine, not 'ours' and I don't want him to pay towards them. It's my mess. Besides, I don't want to ruin his credit record as his is healthy- whereas mine isn't right now due to a few late payments.

Sorry, a bit waffley. Hope my queston has come across...:o

jaman

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leahnie87

Hey!

I'm a recent graduate and due to bank error - my complaint is pending - I am currently owing money. Not a huge sum, but I can't pay it back in the time required. All I wanted to know was if you could use a 0% balance transfer credit card account debit balances on current accounts?

Cheers

Stressedgirl

Hi,

I'm after a bit of advice. I am being chased by mkrr On behalf Of nationwide bank for an overdraft (£1440) and a credit card (£960). They are both debts from back in my
Uni days when I was young and stupid with money...believe me I have learnt my lesson!

The credit card went statue barred on 31.07.12 but they are still chasing.

The overdraft is trickier. The last payment on the account was feb 2006 so I believe should have been logged as in default by may06 which would make this statue barred however the default wasn't logged until March 2007.

What can I do to fight both of these as mkrr are now threatening a ccj and/or to send a bailiff to remove goods.

I worried if I contact them they will restart the 6 years clock ticking as they have with so many others.

Please help as its really stressing me out and I really don't need the stress being 4 months pregnant and already having a lot of complications. My pregnancy is risky enough without having to deal with this company threatening me.

StepChange_Pavan

s2kjames wrote: »

Hi thanks for the reply.

Just to be clear we haven't opened a new credit card. They are not maxed out so we had room on an existing one.

I guess moving banks is the best option then.

Hi there,

Thanks for clarifying – it’s still a good idea to contact our support team so you can update your balances.

Moving banks is the best option in most cases but if you did clear the overdrafts it would be important to cancel the facility as soon as you did it.

Kind regards,
Pavan

StepChange_Pavan

laura2481 wrote: »

Hi
I've recently started stuggling to pay my CC bills, making minimum payments- some late - and having to use CC for day to day stuff like groceries. It all got a bit too much when a 0% interest deal ran out and the min payment practically trebled. Everything is just strting to feel too much. No pay rise at work of any type for 4 years and now the company is looking shaky. I feel trapped by the debts as moving jobs would probably mean a pay cut and so I'm having to stick it out. Mortgage is on iterest only as we had intended to change to repayment mortgage but due to no wage increase can't afford this and worry constantly about increases in interest rates and the fact we have no savings to pay mortgage off (another 40 years yet but still at the back of my mind. Considering having a baby as at 31 time is marching on but there is no way to afford one right now. I feel like the debts are stopping me living my life. I have about £12k debt over 4 CCs and a loan. I am considering a DMP but is is possible to 'leave my husband out of it'. I don't mean not tell him, just so that creditors don't take his earnings into account. The debts are mine- not his. He is is fact mostly debt free having only a £1k overdraft he occasionally uses. We have a joint account for mortgage/ bills/ and groceries but other than that finances are sperarate. Basically, my debts are mine, not 'ours' and I don't want him to pay towards them. It's my mess. Besides, I don't want to ruin his credit record as his is healthy- whereas mine isn't right now due to a few late payments.

Sorry, a bit waffley. Hope my queston has come across...:o

Hi laura2481and thanks for your post.

It’s fine not to include your husband if none of the debts are joint and in your name only. You’d just need to include your income and your contributions towards the household expenditure (don’t include anything that he pays).

We’d need to look at your situation in a bit more detail to make sure that a DMP is definitely your best solution as there could be other options that you haven’t considered. If you get in touch with us we can give you some free and impartial advice.

You can use our online debt advice service Debt Remedy (http://www.cccs.co.uk/ref/drcu) or call our Helpline on 0800 138 1111 (free including from mobiles). We’re open Monday to Friday 8am - 8pm and Saturdays 9am – 3pm.
I hope this helps.

Kind regards,
Pavan

StepChange_Pavan

leahnie87 wrote: »

Hey!

I'm a recent graduate and due to bank error - my complaint is pending - I am currently owing money. Not a huge sum, but I can't pay it back in the time required. All I wanted to know was if you could use a 0% balance transfer credit card account debit balances on current accounts?

Cheers

Hi leahnie87 and welcome to the forum.

It is possible, but it’s slightly different and there’s more information about how to go about it in this guide: http://www.moneysavingexpert.com/loans/cut-loan-overdraft-costs.

If this isn’t an option for you, I’d recommend that you write to the bank explaining your situation and offer an amount that you can afford. You can include a copy of your budget as proof that you can’t afford the amount that they’re asking for.

I hope this helps.

Kind regards,
Pavan

laura2481

CCCS_Pavan wrote: »

Hi laura2481and thanks for your post.

It’s fine not to include your husband if none of the debts are joint and in your name only. You’d just need to include your income and your contributions towards the household expenditure (don’t include anything that he pays).

We’d need to look at your situation in a bit more detail to make sure that a DMP is definitely your best solution as there could be other options that you haven’t considered. If you get in touch with us we can give you some free and impartial advice.

You can use our online debt advice service Debt Remedy (http://www.cccs.co.uk/ref/drcu) or call our Helpline on 0800 138 1111 (free including from mobiles). We’re open Monday to Friday 8am - 8pm and Saturdays 9am – 3pm.
I hope this helps.

Kind regards,
Pavan

Many thanks. I shall do the online Debt Remedy and will probably be in touch. I will be happier explain the situation to my husband now I know that he will not be made to pay towards my debts. Thanks again

StepChange_Pavan

Stressedgirl wrote: »

Hi,

I'm after a bit of advice. I am being chased by mkrr On behalf Of nationwide bank for an overdraft (£1440) and a credit card (£960). They are both debts from back in my
Uni days when I was young and stupid with money...believe me I have learnt my lesson!

The credit card went statue barred on 31.07.12 but they are still chasing.

The overdraft is trickier. The last payment on the account was feb 2006 so I believe should have been logged as in default by may06 which would make this statue barred however the default wasn't logged until March 2007.

What can I do to fight both of these as mkrr are now threatening a ccj and/or to send a bailiff to remove goods.

I worried if I contact them they will restart the 6 years clock ticking as they have with so many others.

Please help as its really stressing me out and I really don't need the stress being 4 months pregnant and already having a lot of complications. My pregnancy is risky enough without having to deal with this company threatening me.

Hi Stressedgirl and welcome to the forum.

Firstly, please try not to stress as it’s far more important that you focus on your health and the baby at this time.

Although the debts could be statute barred making them unenforceable they can still chase you for any outstanding amounts which you’re liable for if you know the debts are yours.

The six years counts from the last time you made a payment or admitted the debt so the default shouldn’t make a difference to the timescales.

Don’t worry about bailiffs at this stage as they would need to get a CCJ first – which they can’t do if the debts are statute barred.

It’s up to you whether you decide to pay the debts or not. If you do want to clear them you can write to them, making them aware of your situation and offer them whatever you can afford. We can also give you more detailed advice on your options if you get in touch with us.

Alternatively you can write to them, telling them that the debts are statute barred and there’s a template letter you can use below.

I hope this helps.
Kind regards,
Pavan

From:
Name:
Address:
Postcode:
Date:
To:
Creditor‘s Name:
Account/Agreement No:
Without Prejudice
Dear Sir / Madam
You have contacted me regarding the above account.

The last payment of this debt was made over six years ago and no further acknowledgement or payment has been made since that time.

Unless you can provide evidence of payment or written contact from me in the relevant period under Section 5 of the Limitation Act 1980, then you will no longer be able to take any court action against me to recover the alleged amount claimed.

Any court claim will be defended on this basis.

In addition section 3.15 of The Office of Fair Trading Collection Guidance states that it is unfair to pursue such claims where, as here, the creditor has made no contact during the relevant limitation period.

If you have evidence that your claim is not statute barred then please supply it to me within 21 days. If you are unable to provide such evidence please confirm that no further action will be taken against me.

Yours faithfully