Struggling with debt? Ask a debt advisor a question

ljcraigboy

if you are on a DMP can you still get a loan for a car from the dealler?

Millie321

Hi

Can you please tell me if i go ahead with a dmp how long once the debts are cleared will i have to wait before being able to get a mortgage?

snitchifer

Hi there,

I was made bankrupt on Friday afternoon, and am currently in the process of waiting for the OR to contact me. I have stopped using all of my bank accounts, but I was wondering if I should open a new basic account now, or wait until after I have spoken to the OR?

Thanks,

C

CCCS_Sue

Esoog wrote: »

Greetings all, this carries on from; http://forums.moneysavingexpert.com/...819&highlight= , basically having made a F&F offer today we have received a letter that says;

"legal action will be taken against you if you do not pay immediately....CCJ may affect you....following legal action and the entry of judgement the following action may be taken:

1. Charging order against property
2. Attachment to your earnings
3. Visit by County Court Baliff to seize goods.....

YOU HAVE SEVEN DAYS FROM RECEIPT OF THIS LETTER TO AVOID LEGAL ACTION BY SENDING PAYMENT TODAY"



Now, I'm assuming they weren't too impressed with the fact they I suggested they were incompetent by sending three different replies to my F&F offer...anyway, what should our next step be? Obviously we don't have £3k stashed away.

What do you recommend we do?

Hi esoog and thank you for your message

This looks as though it is a standard default notice.

I have attached a link to our CCCS website which will give you further details regarding default notices.
http://www.cccs.co.uk/InfoCentre/EnglandandWales/Creditoraction/Courtaction/Defaultnotices.aspx

If they have refused your full and final offer, then send it again and ask them to reconsider.
In the meantime, pay them something you can realistically afford, rather than nothing. Back up your offer with a copy of your income and expenditure.

Unfortunately, they do not have to accept your offer.

Remember not to part with any lump sum payment until they have confirmed in writing that they agree to mark your credit file as ‘satisfied in full’.

Before you make the decision to offer full and final settlement offers there may be other options available to you based on your budget and financial circumstances. If you wish to discuss this further please call the Consumer Credit Counselling free on 0800 138 1111 to speak to a trained debt counsellor.

Alternatively, we do have an online electronic facility called Debt Remedy where you can complete a financial statement and be provided with advice on the best way to deal with your situation. Click here to go directly to Debt Remedy.

Regards

Sue

CCCS_Sue

spindle233 wrote: »

Hi,

I'm looking at my options for sorting out a severe debt problem. My question relates to an investment property purchase my Dad and I made some years back which turned out to be a complete con. The property is in Spain. We have a large outstanding mortgage with a UK building society, which we are currently unable to pay, and have not paid for some time. They have a facility in Gibralter and we think this is where the account is based. The society in question we believe to complicit in fraudulent activity and are currently trying to pursue this through other avenues not limited to but including the FOS. So far without success I might add. This mortgage is in Euros.

My own personal debts are a personal loan and some credit cards.

I'm considering using the CCCS debt remedy to sort out my personal finances. Since my Dad and I dispute the mortgage (which breaks the lenders own conditions and was setup by a third party prior to our involvment in this whole mess) I wondered what to do.

If I go for a CCCS debt remedy, can I leave this mortgage out, since we don't consider that we should pay it and are already looking at our legal options regarding this?

Hi spindle233

Thank you for your message

You would need to include all UK debts, but we are not able to help with debts outside the UK.

Debt Remedy will give you advice tailored to your situation regarding UK debts.
However, if you wish to discuss this in more detail, you could call for an appointment to speak to one of our debt counsellors free on 0800 138 1111.

Regards
Sue

CCCS_Sue

kjmawdsley wrote: »

I'm in trouble. I don't know what to do.
I don't have much debt but it's beyond what I can pay each month. I can't get a loan because my credit score is so bad. I was struggling to make payments so I went for some payday loands and now my situation is so bad I owe pretty much all of my wage next month.
I never meant to get into this situation. I only owe about £4000 in total but it was just so easy to get into the debt and nobody tells you the consequences. I don't know what to do.

Hi kjmaudsley

Thank you for your message.

In order for us to be able to provide you with advice on your financial situation you will need to either use our online advice facility Debt Remedy, or ring our free Helpline to book a telephone appointment with a counsellor.

Debt Remedy will assist you in completing a financial statement which includes information on your household, employment, income, expenditure and debts. All this information is used as a basis to determine the options available to you to deal with your situation.

If you would like to get immediate advice on your situation, follow the link to go directly to Debt Remedy: http://www.cccs.co.uk/ref/drcu

Alternatively if you would prefer to talk to a debt counsellor about your situation, you can book a telephone based appointment by calling our helpline free on 0800 138 1111. Lines are open Monday to Friday 08:00-20:00.

Regards,
Sue

CCCS_Sue

markysparx wrote: »

Hi there,

Me and my wife currently have 40k approx in debt (15k on cc, 11k loan, Overdrafts and other cards) we manage to pay our minimum payments and have been plodding along like this for a while. The times that we have managed to pay more, the car has broke or the computer has been corrupted etc etc, last month we managed to throw £900 into the cc and then had to spend £400 on the car and £500 on trying to get the computer fixed and then eventually buying a new one) I earn approx 26000 per annum. The problem we have is my wife is self employed and we rely on her bookings to cover the debt payments. We have always been meeting the minimum payments but her business has now slowed down, and from bookings in place we can only continue to meet the minimum payments till November this year. We have 2 children and one currently on the way so her getting another job at the moment is out of the question, we have no assets, we are private tenants, we have a car which is only worth approx £2000 and to be fair, on its last legs. We need a car for her business though, there is no way her business would continue without this car. Can someone please advise on what we should do. I phoned MBNA today as they are the biggest creditor (15k on cc) to ask them if they could possibly freeze my interest for a few months so i could lower my balance, they basically said no, and have stopped all use on the card. They were quite rude to be fair. Any ideas welcome, please help....

Hi markysparx

Thank you for your message

From what you say, it sounds as though you are going round in circles trying to ‘rob Peter to pay Paul’.
Although you are scraping by to make the minimum payments, you are having to resort to using your credit card for everyday living and expenses.
If you were to continue as you are doing, you could end up in a much worse situation!

Unfortunately, the creditors do not have to agree to stop the interest and charges.

It is entirely at their discretion.
However, there is no excuse for their rudeness!

I would recommend that you put together a budget showing your income and expenditure. This will show how much you have left realistically each month after paying all your priority bills. (This would include an amount towards emergencies).
Then send a copy of your budget with your payment and stick to this.
You cannot give them money you do not have.
If you have debts or an overdraft with a bank account you are paying wages into, change to a basic bank account elsewhere. This puts you back in charge of your finances, and stops the bank taking money from your account without your permission to pay of debts you have with them.
If you would like to discuss your situation will one of our debt counsellors, you can call for an appointment on 0800 138 1111.

Hope this helps.

Regards
Sue

CCCS_Sue

mikee31 wrote: »

Hi,

I am in the procedure of setting up a DMP with CCCS, having undertaken the debt remedy online and received the initial correspondence from yourselves. I will shortly be returning the forms with wage slips, creditor statements, etc.

I have sent off the initial letter to my 2 creditors who have acknowledged receipt however they are now asking for details of income and expenditure to be provided to them.

I am worried that my 2 creditors will contest the amount I can legitimately pay back, as it is someway short of how much they would like me to pay.

Should I just ignore their requests for now as presumably you will be sending this information on once received from me?

Thanks in advance for your assistance.

Hi mikee31

Thank you for your message

If you have sent them the notification of Debt Management Plan we supplied, then they will be aware that you are in the process of setting up a plan with us.
If you sent the letter with a token offer of payment, then you need do no more at the moment.

In the meantime, if they contact you, let them know CCCS will contact them shortly with an offer of payment and a copy of your income and expenditure and a list of other creditors.

If you have any problems, you can contact our client support team.

Regards
Sue

CCCS_Sue

kingston_2730 wrote: »

My OH and I are in huge credit card debt. We both have a good income but are struggling now to meet minimum payments on ccs and are having to shuffle money about. We haven't missed any payments or anything but I have looked at the whole situation and we just aren't ever going to get out of debt the way we are going! The thing is, from what I am reading, a good lot of the cc companies are not freezing interest while on a DMP anyway so what would be the point? Why not just keep shuffling the money about to make the minimum payments but keep credit rating intact if interest isn't going to be frozen on DMP anyway? Am I missing something? Thanks for reading.

Hi kingston 2730

Thank you for your message


It can be very frustrating when the creditors will not stop the interest and charges on any debts you have with them.
A debt management plan is not a legally binding agreement.
We do have excellent relationships with creditors and we do request that they stop any further interest being added and charges being made.
However,your creditors are not obliged to freeze the interest on the debts you have.

It is important that you do not fall behind on any priority bills by trying to keep up payments on credit card or loan debts, so trying to shuffle money around to maintain minimum payments would not be a good option in the long run if you do not have enough surplus in your budget to do this.

Your credit file will already be affected if you are making reduced payments.

If you are struggling to meet the repayments on your DMP, then I would recommend that you call for an appointment to review your situation.
The counsellor would review your circumstances and then recommend the best option.

Regards
Sue

bhoy1976

I am currently on a DMP with CCCS and I will also be due a review at some time in the near future.

Since my DMP commenced about 2 years ago (still many more to go) I've had a pretty uneventful lifestyle. Not easy as a single guy. I admit, its my debt, its my problem, but the last two years have not been fun at all. My original DMP did not factor in any activities like the gym, cinema, or even money for emergencies but I feel after all this time I really need to include something in my life as all I do is go to work and come home every day. Don't go clubbing, pubbing but I do need to go to things once in a while. As it is I am even more house bound since I had to move out of my last place with friends into my own place. Pricey.

Is it unreasonable to reduce my monthly amount because of such things or am I being irresponsible and selfish? I think I've really done well to sit this out for so long.