Struggling with debt? Ask a debt advisor a question

CCCS_Sue

mickstick wrote: »

Just paid of all my debt after 5yrs with cccs.I am saving hard for the next 2 or 3 yrs and want to get a mortgage will i have to wait longer or can i use a broker

Hi mickstick,

Thank you for your message.

Congratulations on becoming debt free!

I have attached a link to Martin Lewis’ information on how to improve your credit rating which is really useful: http://www.moneysavingexpert.com/loans/credit-rating-credit-score
It also gives you information on how to apply for your credit reference file so that you know what lenders see when they do a credit search on you.

I couldn’t confirm how long it will take you before you are successful in your application for a mortgage as lenders differ in their lending criteria.

I would suggest that you use a whole of the market mortgage broker as they will search the best deals for you.

Hope this helps.

Regards,
Pavan

CCCS_Sue

twoflower169 wrote: »

Hi

I wonder if you could answer a couple of questions with regards to a f&f offer, we will in the next few weeks be given a lump sum of around 15k, as an inheritance, we currently are on a DMP with yourselves with 12 creditors (of which one is Northern rock and it is a unsecured loan as part of a together mortgage), our current outstanding debt is around the 60k mark, of which 30k is northern rock. We have discussed the possiblity with northern rock that we may be in a situation to go back to paying our mortgage as capital and interest as we are only paying interest only at the moment, and to pay the unsecured loan at full payment (with arrears paid up), but they understand that they would not be part of any f & f offer process and they are happy for us to return to previous terms. So that leads me to ask:

1. Will our other creditors have an issue if we do not offer NR any money as this would be treating someone with preferential treatment?
2. Do we just divide the money (15k) up between them all (minus NR arrears) and say this is all we can offer? Or do we start at a % and work up to the amount we have?
3.What happens to our dmp if some of the companies will not accept f&f offer?

Also to add fun to this equation I am currently pregnant with our 2nd child and will be on maternity leave in a few months and my salary will go down, will this help if mentioned when offering f&f offer as out payment to yourselves will go down once my pay goes down, and the creditors will receive less anyway if they dont accept f&f offer.

It also concerns me if only some of the creditors accept and the others dont which means we may not be able to pay NR full monthly payments and have to stay in dmp, could they then in future pull out of dmp as they would never have been offered any f&f payment, and they could see this a preferential treatment.

I'm sorry if this is too long, but these questions have been going round in my head since I knew we would get this money.

Thanks for any help in advance.

Hi twoflower69,

Thank you for your message.

Congratulations on the happy news! I can understand why you must have so many questions whizzing around your head.

I would recommend that you call our Client Support department to discuss this in full as they will have all of your details on file and will be able to give you a detailed answer.

Regards,
Sue

BEAT_THE_DEBT

Hi i started dmp in July with min payment as the date was before my pay day. I paid full amount yest for Aug but Sept looking sick at the cost of food and fuel! Will i be srtuck off by creditors if i make half payment for Sept?

Crisp_£_note

Hello

Please can you tell me if CCCS offers Debt Releif Orders please? I am currently with NDL and waiting for advice on our I&E and creditor debts but am also looking around at other non fee debt help providers. We have done everything else required as we have been trying to get a DRO sorted for some time now and have stopped paying even token payments now as we cant afford them our basic Income matches our priority expenditure with little else to spare for food and other luxuries. I know we are better off with a Debt Releif Order than anything else.

Thanks

ajithaj

hi

I am currently with NDL and waiting for advice on our I&E and creditor debts but am also

Jonesy_21

Hello Sue,

I wonder if you may be able to answer a few questions for me please.

Back in 2004 I entered into a DMP with Payplan. I went into the DMP with two credit cards and one loan. This has all since been fully paid off in 2007 via payplan.

However, as I would like to apply for a mortgage next year I have been checking my credit file and have noticed that one of the credit cards, which was with Nationwide has placed a default on my account in 2007, when I finished paying with payplan. My understanding is that the default should have been placed in 2004 when I first entered into the DMP with payplan, thus defaulting on the account then.

I have rung Nationwide several times to try and obtain some clarification regarding this but to no avail, the customer services team cannot seem to help me as the account is so old they do not have a record of me!!!!! I was then advised to write to their head office, which I did, over 6 weeks ago and still heard nothing back. I am eger to correct this date if it is wrong as if it should have been placed in 2004 it should then fall off of my file this year!!!

Could you shed any light on whether or not the defualt should have been placed in 2004 or 2007 and if it is 2004 how else do I try to get this removed as I cannot seem to get Nationwide to help at all. Surely if they have no record of me then the default should not be there?

Any advice you can give me on this would be greatly received.

Many thanks

Jonesy

tootsyfloot

Hi Guys.
After visiting CAB countless times, I feel that I am still in a pickle.
So, heres the score.
My following Debts are:
Natwest Loan-forced to take out when the payments I was making on the overdraft were not satisfactory to the bank. 27% interest over 5 years means iam paying just over £5000 back
Halifax credit Card: £1800
Natwest Credit Card:£500
Other:£900 this is for old energy bills british gas, npower and edf.
I am now unfortunatly single and as my ex has left and moved on, I was left to pick up the peices.
I have a daughter also who is 18 months old.
I currently have payment plans in place for the credit cards for £10 per month each as well as 6 other energy payments of £10 per month. The loan Iam paying £85 per month
Iam due to start college in September to do a foundation degree, therefore I will incure more costs to pay back, but I see this as money well spent.
Iam planning to stay with my current employer part time, but I know i will not be able to cope with the financial pressures of the debts.
Please could anyone give me some sound advice
It would be much appreiciated
- IVA/bankrupcy is not an option as I would like to try and apply for the police when I finish my studies in 3 years.

CCCS_Sue

BEAT_THE_DEBT wrote: »

Hi i started dmp in July with min payment as the date was before my pay day. I paid full amount yest for Aug but Sept looking sick at the cost of food and fuel! Will i be srtuck off by creditors if i make half payment for Sept?

Hi Beat The Debt and thank you for your message

Great to hear you have started on your DMP!

However, I am concerned that you appear to be struggling already on priorities like food and fuel.
Obviously, these need to be paid first and whatever is left after paying your priorities can be paid to your creditors.
I would recommend that you contact our client support team and explain your situation.
If it is only for this month, they may be able to make an adjustment, but if this is going to be a long term problem, you may need to review your income and expenditure and look at your options again.

Regards
Sue

CCCS_Sue

Crisp_£_note wrote: »

Hello

Please can you tell me if CCCS offers Debt Releif Orders please? I am currently with NDL and waiting for advice on our I&E and creditor debts but am also looking around at other non fee debt help providers. We have done everything else required as we have been trying to get a DRO sorted for some time now and have stopped paying even token payments now as we cant afford them our basic Income matches our priority expenditure with little else to spare for food and other luxuries. I know we are better off with a Debt Releif Order than anything else.

Thanks

Hi crisp £ note and thank you for your message.

CCCS are one of the few approved organisations who can submit a debt relief order application.
I have attached a link to our website which gives you further information regarding the criteria required to do a DRO.

http://www.cccs.co.uk/InfoCentre/EnglandandWales/Debtsolutions/Debtrelieforder.aspx

If you feel you meet the criteria and would like to discuss this further with one of our debt counsellors, then you can call for an appointment on 0800 138 1111.
Alternatively you can visit our online debt advice facility called Debt Remedy. Debt Remedy would assist you in completing a financial statement and you would be provided with tailored advice on the best way to deal with your situation. This link will take you directly to Debt Remedy www.cccs.co.uk/ref/drcu


Regards,
Sue

CCCS_Sue

Jonesy_21 wrote: »

Hello Sue,

I wonder if you may be able to answer a few questions for me please.

Back in 2004 I entered into a DMP with Payplan. I went into the DMP with two credit cards and one loan. This has all since been fully paid off in 2007 via payplan.

However, as I would like to apply for a mortgage next year I have been checking my credit file and have noticed that one of the credit cards, which was with Nationwide has placed a default on my account in 2007, when I finished paying with payplan. My understanding is that the default should have been placed in 2004 when I first entered into the DMP with payplan, thus defaulting on the account then.

I have rung Nationwide several times to try and obtain some clarification regarding this but to no avail, the customer services team cannot seem to help me as the account is so old they do not have a record of me!!!!! I was then advised to write to their head office, which I did, over 6 weeks ago and still heard nothing back. I am eger to correct this date if it is wrong as if it should have been placed in 2004 it should then fall off of my file this year!!!

Could you shed any light on whether or not the defualt should have been placed in 2004 or 2007 and if it is 2004 how else do I try to get this removed as I cannot seem to get Nationwide to help at all. Surely if they have no record of me then the default should not be there?

Any advice you can give me on this would be greatly received.

Many thanks

Jonesy

Hi Jonesy and thank you for your message

I have answered your query on private messages, but just in case anyone else needs advice regarding how to correct wrong information on their credit file, I have attached a link to a booklet called 'Credit Explained' which gives further help and advice regarding who to contact.

http://www.ico.gov.uk/upload/documents/library/data_protection/practical_application/credit_explained_leaflet_2005.pdf

Regards
Sue