Struggling with debt? Ask a debt advisor a question

Chigs362

Hi all sorry if I not put this in the correct place,
I have debt which I now have the means to clear but with the intrest on intrest my best estamate is it will take me 30 years to pay off,
Money Expert (not moneysavingexpert) have gone through my situation and say thay can take over my debt and clear me of the debt in three and a half years paying out only half what I need to pay now.
To good to be tru? Has any one elce heard of this company and if so what is your experience with them?
thanks
James

alixandrea

Hello all. I sent a (rather long and involved) PM to the CCCS advisers the other day but can't find record of it in my Control Panel and I haven't had a reply to it yet. Has it vanished into the ether, or am I being impatient and silly?

All the best

Alixandrea

bomechina

Hi, I contacted CCCS about a month ago and was advised to offer token payments to all my creditors.
I sent them all a S.O.A with a letter explaining my situation along with my token payment of £2. It has stopped the phone calls if nothing else, however Capital One have written saying they need copies of payslips, proof of any benefits and a bank statement before they will accept my offer of payment (even thought they cashed the cheque I sent. Can they demand these when they have my S.O.A. Also the debt was with a DCA and Capital One have written to say they have taken the debt back, does this mean they can start adding interest and charges onto it as when the DCA had the debt all interest stopped.

197228

I have recently set up a DMP with cccs and i am waiting for the responses of creditors, i am worried that if they do not agree that i will be getting further into debt as i will be getting interest added?? also worried that because i will then be paying an unagreed amout that they will send debt collectors round? at what point do the collectors get in formed to visit and will i be informed? Thanks for help

bhoy1976

I reduced my DMP amount today following a review in agreement with CCCS.

Its fair to say that this was an inevitable step given my change in circumstances but not one which leaves me feeling any easier at the prolonged pain of debt. Whilst it makes my life less stressful on the budgeting front, I can't help but think my creditors are more likely to take action against me.

The amount my DMP has reduced by is at least half of what it has been over the last 18 months and the period in which it has extended is now double. My commitment to a severely restricted lifestyle over that period has replaced the anxiety from one kind to another.

At one point, I felt Bankruptcy may be my only option to get the monkey off my back, but because I work for the police as a civilian I now sense this is no longer an option as it would possibly effect my career, even lose my job. However, if my creditors were to reject this reduced amount, despite nothing unreasonable in my budget review, I would be horrified if I ended up with a CCJ - I think this could have a similar effect on my job.

I wish that I could find a solution in this brain of mine to end my pain but all I can do is suffer the consequences of debt for another 11 or so years.

I feel for those who are in a worse scenario than I, however I can't help but think that regardless of your personal situation, we all suffer just the same.

I really hope that everyone on this forum, myself included, sees a fast end to their financial trauma.

Good Luck to you all.

bhoy1976

MrC1977

hi

please can you help

my ex-partner and myself split up over a year ago. We have a flat that we are renting out however the tenants are moving out early september.

both of us are now getting into more and more debt and when the tenants stop paying rent this will only get much worse.

We have decided to sell as renting wasnt working but the problem is whist the sale price will pay off the secured mortgage we will still have a joint unsecured loan and various individual credit card debts. approximate total £20k each

once the flat is sold the debts will probably be manageable but neither will be paying the debt off. short term there is no way we can afford the payments without the tenants rent coming in. problem is we have no way of knowing when the flay will sell

is a debt management plan the best route and what happens after we sell the flat? also how will effect our lives in the future?

any help is appreciated

thanks

CCCS_Sue

redsam wrote: »

morning

If i ended up looking to go down the DMP route would it effect me if I want to sell and buy a new property with my partner?

Hi redsam,

Thanks for your message.

If you are making reduced payments on a debt management plan, this could affect your credit file. If you decide to buy a new property, it may affect your application for a mortgage.

I have attached a link to the ‘Credit Explained’ booklet which explains more about credit reference files and how they work: http://www.ico.gov.uk/upload/documents/library/data_protection/practical_application/credit_explained_leaflet_2005.pdf

Hope this helps.

Regards,
Sue

CCCS_Sue

MRS_A wrote: »

Can anyone from CCCS tell me how long it takes to set a DMP up please?

I sent all of my docs off and had an email last week to say I'd missed a couple of things so I sent these on Friday 1st class.

How long do you think it'll be before I hear something?

Will it all be ready for me to make a payment on the 1st of August?

Just getting a bit nervy.

Hi Mrs A,

Sorry for the delay in replying. Hopefully you will have received confirmation by now. If not, let us know and we’ll look into it for you.

Regards,
Sue

CCCS_Sue

Jo_v174 wrote: »

Hi,

I signed up for a computer course in 2007. (That's another problem entirely!) Anyway, in 2009 I defaulted on one payment. I was paying Barclays Partner finance via Direct Debit every month.
I receive a letter from Career Development Finance stating that BPF had passed them the account.

I set up a payment plan with CDF amount paid via standing order from my bank on the 15th of every month. This started Oct 2009.
I paid regularly. Fast forward to March 2010. Letters begin to arrive from Barclays Partner Finance. Stating I am in default & am being charged £22.50 every two weeks until the payments catch up. (Strange I thought I was paying CDF On time, Every month)

Next the phone calls start from BPF, You are in default charges are being added to your account,
I explain I am paying a 3rd party, it's passed to a supervisor, I'm told it's ok I am paying the 3rd party, BPF shouldn't even be looking to me for the payments as 3rd party are sending payments on.
I call Career Development Finance Ltd. They inform me that I need to speak to BPF as the account should have been closed with themselves.

After the 6th phone call from Barclays Partner Finance telling me the same thing I ask who I should be paying. They tell me BPF.
Person on the end of the phone gives me all the account details to set up a standing order to pay them direct. I am due to pay 1st August. They send me out a statement showing all the default sums they have added & when the payments from CDF are being sent.

Statement arrives. CDF are receiving my payments on 15th of each month. They are sending the payments to BPF 3 weeks sometimes up to a month AFTER they have received them. Therefore £22.50 is added to my account balance every 2 weeks.

Fast forward to this morning. Letter in the post from CDF to tell me I have defaulted & they will take me to court blah blah blah Also they have added £15 late payment fee to the account!! Ring BPF I am told You should have been paying CDF.

I am now at a complete loss as to who is liable for these "Late payment fees" Who I am meant to be paying. & where I stand legally.

I am sorry this is so complicated as you can imagine I am getting more & more stressed out as it continues.

I would appreciate any help you can give me on this matter.
Joanna

Hi Joanna,

Thank you for your message.

You could apply for a subject access report and this will give you all the information that they hold on you. There is usually a fee for this. I have attached a link to a website that gives you more information: http://www.ico.gov.uk/upload/documents/library/data_protection/introductory/subject_access_rights.pdf

Whilst the debt is in dispute, they should stop pursuing it.

Once you have this information, you should know who to make the payments to.

Hope this helps.

Regards,
Sue

CCCS_Sue

MRS_A wrote: »

Just a quick question that's been thrown up from another thread.

Is it possible to ask CCCS to take a creditor off my DMP?

I am going to ask the catalogues for a CCA but if they can't produce one can I take them out of my DMP until they do?

Hi Mrs A,

Thanks for your message.

If there is still a debt outstanding, it is advisable to keep it on your debt management plan and make payments until the debt is cleared or it is proved that you are not liable.

It’s worth noting that consumer credit debts will only be written off if there is clear evidence that the creditor in question has breached the guidelines set within the Consumer Credit Act.

Hope this helps.

Regards,
Sue