Struggling with debt? Ask a debt advisor a question

lizzy23

hello, i am after some advice a couple of months ago i did debt remedy with CCCS which suggested the best way to get out of the hole i am in was a DMP, my husband is self employed so i can't rely on his income, i was all set to go but he talked me out of it because one of the loans is in joint names, and also an overdraft is in joint names even though i pay them all, he is terrified about not being able to get credit, even though he has no credit score because he is self employed, i suppose my question is can i leave the joint debts out of a DMP? i really can't carry on like this anymore, but he refuses to see this

antonio999

hi, i recieved a call this morning from 02070590115, The guy at the end of the phone said he had my creditor files in front of him, and they were not happy with the agreements I had setup.
I became very defensive with the guy who called, as i am very funny about people calling me, saying they already have my details!
Are there companies out there who can do this? and how can I make a complaint. the guy was really rude, and talked over me, even said, 'no stop talking, its your loss, goodbye!' I called 02070590115 back on my phone and it said it was unattainable!

Please help, whether it is to advise me what to do, or how to take this further,

many thanks

StepChange_Pavan

lizzy23 wrote: »

hello, i am after some advice a couple of months ago i did debt remedy with CCCS which suggested the best way to get out of the hole i am in was a DMP, my husband is self employed so i can't rely on his income, i was all set to go but he talked me out of it because one of the loans is in joint names, and also an overdraft is in joint names even though i pay them all, he is terrified about not being able to get credit, even though he has no credit score because he is self employed, i suppose my question is can i leave the joint debts out of a DMP? i really can't carry on like this anymore, but he refuses to see this

Hi lizzy23 and thanks for your post.

You can’t exclude some debts from a DMP but if your husband is worried about his credit file he can make up any shortfall towards the joint debts.
I hope that makes sense, but just get in touch if not – your reference number and our contact details will be in your advice booklet.

Hope this helps.

Kind regards,
Pavan

JayC1987

Hello there,

Thank you very much for creating this forum. It's finally nice to find a place where I can post my problems where I'm not going to get judged

I've recently contacted the CCCS about my debt problems.

All I am asking is my credit rating is very poor if I can make a payment plan to pay off what I owe (£12,000) and I can make the repayments every month will my credit rating improve as time goes on?

Also would it be advisable to try and claim back some PPI money (If I am owed any) To try and reduce my debt or would it be worth waiting till I've paid my debt back with the help from the CCCS.


JayC

PARDDU

Hi,

I've just very recently decided to confront my debt problem which I know has spiralled to a silly amount. My husband only found out last week and I already feel more positive and ready to tackle it.
All together I have 2 loans (with HSBC) and 3 credit cards (Virgin, Barclaycard and HSBC) - totalling to around 22k.
I have been looking at balance transfering some of my credit card debts, but was refused by Tesco for application. I don't know what to do next? I don't want to apply for another card if I get refused as I don't want to get a bad credit rating. I've always paid minimum payment on all debts. My husband can get a credit card from Barclaycard at a much better rate than what I can get - is it worth transfering under his name? could this effect our Mortgage? We started off with a fixed rate on our mortgage but now the fixed period has ended and now we are just paying the bank of england rate. We want to fix this soon so is it better that we do this first? Should we take out more on the mortgage to pay off other debts?
Sorry for many questions but my husband and I are really not sure where to go first.
Thanks

mum2one

I have just had all my paperwork through and i am offically on board, my dmp starts 1st Oct.
I really can't say thank you enough, not just to Pavan and Matt, but the people I have dealt with in the office.

I would say to anyone please don't bury your head in the sand, there are people to help. I know I have only just started out on the road to debt freedom, but I feel like the weight of the world has been taken off my shoulder.

It may sound daft but the difference, tonight, my daughter went for a walk tonight with dad and the dog, and I was able to give her £1 to go to the shop to treat herself, yes some may say its only a £1, but when you've been living credit card to credit card, robbing Peter to pay Paul, that was a £1 I never had before that I could give her without worrying that I have to replace it,

Thank you again xx

sandiejannorman

Hi

I have finally got round to writing to all my creditors to reduce my debt.
I have been struggling big time and every month I have been getting charged fee's from my bank.

I have offered them token payments and sent the letters off nearly a week ago now and haven't heard anything.
I'm really worried about going through another month with no cash. I've had to get out a payday loan to help me through the month. They asked me if I wanted to defer the payment for a month and only pay £70 this month. I was happy to do this but I didnt realise this doesn't actually reduce the debt.

I suffer with anxiety and depression and I'm feeling very low at the min and so worried about being in all this debt and not being able to support my son who's only 2.

My questions are:
Can I reduce my payments now or do I have to wait to hear back from my creditors?
Can I claim back my bank charges now? They've refused the refund in the past.

Thanks for your time

StepChange_Pavan

JayC1987 wrote: »

Hello there,

Thank you very much for creating this forum. It's finally nice to find a place where I can post my problems where I'm not going to get judged

I've recently contacted the CCCS about my debt problems.

All I am asking is my credit rating is very poor if I can make a payment plan to pay off what I owe (£12,000) and I can make the repayments every month will my credit rating improve as time goes on?

Also would it be advisable to try and claim back some PPI money (If I am owed any) To try and reduce my debt or would it be worth waiting till I've paid my debt back with the help from the CCCS.


JayC

Hi JayC and thanks for your question – you’re right that you won’t be judged here

If you’re going on a debt management plan, it’s unlikely that your credit file will improve as you will be making reduced payments (less than the contractual ones that you signed up for originally). This article gives you more information about how credit files work and how you can improve it: http://www.moneysavingexpert.com/loans/credit-rating-credit-score.

It’s definitely worth claiming back any mis-sold PPI and more importantly that you do it for free. They may credit the amount to your debt rather than paying you a cheque but you would still be debt free quicker. There’s more information about what you should do here: http://moneyaware.co.uk/2012/06/reclaim-ppi-for-free/.

I hope this helps.

Kind regards,
Pavan

StepChange_Pavan

PARDDU wrote: »

Hi,

I've just very recently decided to confront my debt problem which I know has spiralled to a silly amount. My husband only found out last week and I already feel more positive and ready to tackle it.
All together I have 2 loans (with HSBC) and 3 credit cards (Virgin, Barclaycard and HSBC) - totalling to around 22k.
I have been looking at balance transfering some of my credit card debts, but was refused by Tesco for application. I don't know what to do next? I don't want to apply for another card if I get refused as I don't want to get a bad credit rating. I've always paid minimum payment on all debts. My husband can get a credit card from Barclaycard at a much better rate than what I can get - is it worth transfering under his name? could this effect our Mortgage? We started off with a fixed rate on our mortgage but now the fixed period has ended and now we are just paying the bank of england rate. We want to fix this soon so is it better that we do this first? Should we take out more on the mortgage to pay off other debts?
Sorry for many questions but my husband and I are really not sure where to go first.
Thanks

Hi PARDDU and welcome to the forum.

Our advice depends on how much you’re struggling – we don’t usually recommend taking out further debts to clear existing ones as it can make the situation worse in the long term if you’re already unable to maintain minimum payments. We wouldn’t advise that you secure the debt against the mortgage as this could put your house at risk if you can’t make the payments.

The debt solutions that we recommend would all affect your credit rating which would only be an issue if you were looking to take out further credit in the near future.

I’d recommend that you draw up a budget in the first instance to see if there are any changes you can make to your income/expenditure. Once you’ve done this you’ll be in a better position to see what you can afford.

If your husband is in a position to take out a card at a better rate and you can afford the repayments, this could be an option. It’s important that you cut up the old card and close the account to remove any temptation of spending on it again.

I hope this helps.

Kind regards,
Pavan

win123

Dear CCCS

Just would like some advice for my mum who is 66 years old she has a credit card debt of about 5k and argos card 600 pound and is struggling to pay the 127 per month payments on card and argos going up to 56 pound this month and she just cant manage it -will she be able to go on a DMP - I am on a DMP with the CCCS and we live together - Just wanted advice can she go on a DMP at her age? thanks for the advice