Struggling with debt? Ask a debt advisor a question

mum2one

Just to say thank you my debt rememby came through today via emai, makes it feel more real, without sounding daft.
Plan 2mor, - get ink, (sods law half way through printing ink goes!!)
So by Friday all letters be in Post, feel nervous, but positive nervous without sounding daft. xx

needsomehelp1234

Hi, i was hoping someone could give me some advice, just over a year ago i set up a dmp with cccs, everything was going fine until the a few months ago when my circumstances changed( moving house to keep job) so i couldnt afford the monthly payment, i stupidly buried my head in the sand and have missed the last 3 payments causing the plan to fail. Does anyone have any experience with anything like this and if you can start it up again now things are a little more settled?

ivandrago_2

Hello,

My debts are as follows;

Consolidation Loan-£15000 remaining @ £250 per month
CC1-£5000 @ 0% until july 2013 @ £55 per month
CC2-£2000 @ 0% until sept 2012 @ £25 per month
CC3-£500 @ 19.9%
CC4-£ZERO
Loan from family- £4000 0% for duration

Total Debt as of Aug 2012 £26,500

self-employed trades man earning £35k a year
owed £6000 net wages due in sept 2012

Don't really know what help to ask for other than I know I will need
another credit card at a 0% rate and help on how to get one of these given my shameful situation would be greatly appreciated.

Thanks,

Drago

StepChange_Pavan

tomneedinghelp wrote: »

Hi all.
[FONT=&quot]
I have been in a DMP with Gregory Pennington for the last few years and have managed to reduce my debts from around £35k to around £20K. My payments are now £500 per month, 15% of which is a fee to Gregory Pennington. I have always complained that this fee is too high but nothing has ever been done about it. I received a call this morning from them advising me that within 30 days the fee will be increasing to 17.5%!! This is a major step back for me and I am worried that the plan is now going to take longer and cost me more money that I can't afford. I have been very happy with everything GP have done for me but this fee is getting out of order. The more I try and pay off, the more they take from me as a fee. I have about 4.5 years left of my plan which could be reduced to 3.5 years if there was no fee.

My creditors are as follows:
Equidebt (£2937)
Experto Credit (£4211)
Lloyds TSB Credit Card (£1971)
Lloyds TSB Overdraft (£1625)
Zopa Ltd (£8140)
Zopa Ltd (£1935)
Total (£20820 approx)

GP have arrangements in place with all of the above.

I got into debt when my partner and myself bought our first house which needed quite a lot of money spending on it. The borrowing soon got out of hand and we were having to use credit cards to pay for everything. The last few years whilst been on a DMP has been fantastic. I have had little contact from lenders, and the figure is slowly reducing.

I have now got to the point where I either stay where I am with GP and pay the 17.5% monthly fee or change companies (will all the initial hassle start again?) or try and agree arrangements myself with lenders? I have written to Lloyds TSB before and managed to get part of the debt wrote off due to interest and charges been added in the early stages of the DMP. This was because I wrote them an honest letter explaining my situation and they kindly were willing to help out and reduce my debts. I am in the process of writing a similar letter to all other lenders.

We have just moved out of our house and back in with parents temporarily and we move into a new house (which we will be renting from family) in March 2013. If I start messing about moving DM Companies now, will my parents credit be affected as we now live at their home? We will be renting out our old home which covers the mortgage and any outgoings attached to that propertly, in simple terms, breaking even so. The money we are saving in bills etc. from not living in our own property until march, will be used to pay board at parents, and also try and save a little for when we move into our new property.

I would appreciate any advise whatsoever

Thanks

Tom
[/FONT]

Hi Tom and thanks for your question.

You’re right that there could be some hassle in changing DMP provider but it’s up to you to weight this up against the costs. As you might know, we provide debt management plans completely free of charge and we still provide a professional and impartial service.

We would need to look at your situation in a bit more detail to make sure that a DMP is still your best solution and if it is we can get you set up quickly providing that you have all the information we need.

All you would need to do is visit our online debt advice service Debt Remedy (http://www.cccs.co.uk/ref/drcu) and enter your information 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

needsomehelp1234 wrote: »

Hi, i was hoping someone could give me some advice, just over a year ago i set up a dmp with cccs, everything was going fine until the a few months ago when my circumstances changed( moving house to keep job) so i couldnt afford the monthly payment, i stupidly buried my head in the sand and have missed the last 3 payments causing the plan to fail. Does anyone have any experience with anything like this and if you can start it up again now things are a little more settled?

Hi there and thanks for your post.

I’m not sure whether you might have done this already, but it’s best to get in touch with our support team to explain what happened and see what options are available to you. If a DMP is no longer an option we will still provide you with on-going advice and support on your best course of action.

I hope this helps.

Kind regards,
Pavan

StepChange_Pavan

ivandrago wrote: »

Hello,

My debts are as follows;

Consolidation Loan-£15000 remaining @ £250 per month
CC1-£5000 @ 0% until july 2013 @ £55 per month
CC2-£2000 @ 0% until sept 2012 @ £25 per month
CC3-£500 @ 19.9%
CC4-£ZERO
Loan from family- £4000 0% for duration

Total Debt as of Aug 2012 £26,500

self-employed trades man earning £35k a year
owed £6000 net wages due in sept 2012

Don't really know what help to ask for other than I know I will need
another credit card at a 0% rate and help on how to get one of these given my shameful situation would be greatly appreciated.

Thanks,

Drago

Hi Drago and thanks for your post.

It’s difficult to say what your options are without knowing more about your situation. I’d really recommend that you get in touch with us so that we can look at your circumstances in detail and explore the solutions that are available to you.

A 0% credit card may not be the best solution but we can discuss this with you if you give us call.

You can ring our Helpline on 0800 138 1111 (free including from mobiles). We’re open Monday to Friday 8am - 8pm and Saturdays 9am – 3pm. 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.

Kind regards,
Pavan

Justalittleteapot

Hello debt advisors. Firstly I want to say how great CCCS are. I've been with them for nearly two years on a dmp and what an amazing difference it has made to my and my family's lives. I do have a question though: my review is in September so I decided to gather some of the info I need for this. One issue is that my 18-year-old has messed up the second year of sixth form so is going back to school to resit it. This means apparently that some tax credits will continue and so will child benefit. I will not have paperwork from them through the post in time for the review so will the reviewer person accept what I've been told verbally by tax credit and child benefit or do I need to wait for paperwork to send through to you? Also do I need to photocopy wage slips and things to send also?

arthurdaley_2

Hi great forum

Wanted a little advice, not paid my water rates, S trent would not let me make an agreement till i made a payment, before i could this i have now received a small claims ccj whatever you want to call it, my question is how quick must i pay this to stop getting this on my credit file for 6 years.

Thanks for reading

StepChange_Pavan

Justalittleteapot wrote: »

Hello debt advisors. Firstly I want to say how great CCCS are. I've been with them for nearly two years on a dmp and what an amazing difference it has made to my and my family's lives. I do have a question though: my review is in September so I decided to gather some of the info I need for this. One issue is that my 18-year-old has messed up the second year of sixth form so is going back to school to resit it. This means apparently that some tax credits will continue and so will child benefit. I will not have paperwork from them through the post in time for the review so will the reviewer person accept what I've been told verbally by tax credit and child benefit or do I need to wait for paperwork to send through to you? Also do I need to photocopy wage slips and things to send also?

Hi Justalittleteapot,

Thanks for your kind words – it’s always good to hear from people that we’re helping and to know that your DMP is going well.

We don’t need you to send anything to us prior to the review – just get all your figures to hand. It’s unlikely that we’ll need proof of anything, but if we do you can send it in after your review.

This blogpost gives you a bit more information about what you need to know (http://moneyaware.co.uk/review) and if you prefer you can book an appointment so we can call you back at a time that’s suitable for you.

I hope this helps.

Kind regards,
Pavan

StepChange_Pavan

arthurdaley wrote: »

Hi great forum

Wanted a little advice, not paid my water rates, S trent would not let me make an agreement till i made a payment, before i could this i have now received a small claims ccj whatever you want to call it, my question is how quick must i pay this to stop getting this on my credit file for 6 years.

Thanks for reading

Hi arthurdaley and thanks for your post.

The CCJ will be registered once you receive the letter titled ‘Judgement for Claimant’ and this will be recorded on your credit file for 6 years. If you haven’t already received this it’s important that you contact them as soon as possible to make an arrangement to pay. You’re usually given 16 days to complete the court forms.

I hope this helps.

Kind regards,
Pavan