Struggling with debt? Ask a debt advisor a question

CCCS_Sue

Megs17 wrote: »

Hi,
I took out a debt relief order in april 2009. But obviously my credit rating is now really bad. I really want to do something about this and imporve it but I don't know how. I keep gettin emails about vanquis cards and other such products, claiming they will improve my credit score,but I am unsure whether they will or not. Any help on what I can do will be a great help.

Thanks

Megan

Hi Megan and thank you for your message.

I would be very wary of any emails from companies claiming to improve or 'clean up' your credit score.

I have attached links to a couple of useful websites you could look at regarding improving your credit file.
Before you make any decisions, I would recommend that you read these first!

http://www.ukcreditrepair.co.uk/

http://www.moneysavingexpert.com/loans/credit-rating-credit-score

Hope this helps.

Regards
Sue

StepChange_Pavan

wangtao wrote: »

We haven't had any correspondence from them at all.not been on one of these sites before, so not sure if I'm doing it right. I need help, unbeknown to me my husband has run up HUGE credit card debt (on the family etc). although with normal day to day living and expenses sometimes even these don't get paid. Is there anything we can do.Please help

Hi Wangtao and thank you for your message.

You’ve posted in the right place!

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.

Once you’ve followed the process through and completed all the required information you will immediately be presented with an advice booklet, which will provide tailored advice for you based on your current circumstances. It will also provide advice on ways you may be able to improve 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. If you do decide to call us, please have details ready regarding your income, expenditure and creditors, as this can help speed up the referral process. If you have all of the necessary information ready, 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


CCCS is a registered charity, and there is no charge whatsoever for the services we provide to our clients. We take great pride in offering first class help and advice, but we only offer this where we have been able to fully explore and understand your circumstances with you. We want to help you understand these choices and the possible implications, but not make them for you.

CCCS_Sue

lap1970 wrote: »

If a creditor takes you to Sherrif Court (Scotland) what counts as income? All unsecured debt is in my name only so I have been including my salary, child benefit, child tax credits, my 3 year old's DLA and my husband's Carers Allowance as he stays at home to look after her and cannot work. Should I just be using my salary to work out payments? One creditor is saying they don'g believe my income and want to take it to Sherrif Court (1st Credit). Would I be paying less if it went to Sherrif Court?

Hi lap1970 and thank you for your message.

If a creditor is not willing to accept your offer of payment, they may start court action to recover the debt. To do this the creditor must first send you a default notice, giving you time to pay the arrears. If you cannot pay, the creditor may start court action.
You could show all your income on the budget, but regarding the DLA for your child, that should be shown on the budget as expenditure for your child’s needs, as this is what the DLA is for.
If you would like some help regarding putting together a budget, you can call free on 0800 138 1111. Lines are open from 08.00 until 20.00
The counsellor will also discuss all the options available for your situation.
Alternatively, you can use our online Debt Remedy facility. 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

Confuzzled90

Sorry if this has been asked before but there is so many pages to go down.

My partner and I owe £12.000(Estimation) to various catalogues.
Our joint income has now been reduced to £411 per month and currently were being asked to pay around £150 on catalogue repayments.

What can I do??

I heard about a debt consolidation but when I applied he said I have to continue pay our catalogues for a further few months as we have purchased from them and it would be classed as 'fraud' if we went ahead straight away!! :eek:

I'm really struggiling to keep up with the payments.. we have no food and I don't know what else I can do to keep our heads above water.

Does anybody have any adivce??

ohdearyme1

Hi,

12 months ago I had difficulty paying my mortgage so I contacted my mortgage company for help (I was in the middle of a 5 year fixed deal). They said they would be able to help me if I reduced my payments to my creditors. So I contacted them all and entered into a DMP, which I self administered. My mortgage company were happy with my reduced payments that I had agreed, so then agreed to give me a concessionary rate – basically they dropped the interest rate and put me on interest only to reduce my payments but my mortgage would not fall into arrears.

The concessionary rate has now come to an end and my situation has not changed over the year. In fact it has got slightly worse as my child tax credits were reduced from £41 per week to £10 per week.

So, I contacted my mortgage company again this month to request extending the concessionary rate for another 12 months (they will only help for a maximum of 24 months).

However, I am now being told that they want to put my mortgage rate up to the original interest rate it was on for the fixed deal (still interest only) which is an extra £167 per month, even though I sent in my budget which showed that I had a surplus amount of £21.00 after all outgoings (this is with the mortgage payment at the concessionary rate).

When I queried that if this happened I would have a shortfall of £146 a month, they told me I had to go back to all my creditors and reduce my DMP payments further, as they now think I am paying them too much, although these were acceptable a year ago.

Please can someone tell me, is this fair? How can I go back to all my creditors and break my DMP arrangements?

I am stuck between a rock and a hard place. All my creditors have been fantastic and I have had no trouble in getting the DMP set up. But then my mortgage company have helped me out by breaking my 5 year fixed deal in order for me to afford my mortgage, but with no penalties. So can I have a go at them for putting this extra pressure on me?

I just want to know where I stand. Can anyone offer some advice?

Thanks

universal82

Hi there

I have been making payments to CCCS through a DMP for about 4 years and they've been a great help for me.

However there is a possibility that I will be made redundant sometime soon as there is talk of redundancies at work. It's been a bit of a stressful time, not to mention what happens with my DMP payments. I've not got any savings and it's going to be a struggle to get by on what I would get in a redundancy payment.

Obviously I would be looking for a job but my DMP repayments would have to be significantly reduced until then. Would it be acceptable to reduce payments until I find another job or would my DMP have to end?

Hopefully this won't happen but I suppose it's best to query what would happen now before I lost my job .

Many thanks.

mrs1978

Quick question.....I am venturing on the debt remedy on CCCS site....I think i intend to go down BR route in long run but really not sure... All debt (50K) is in my name....but i am married and have contributed income from my DH...he has overdraft and HP car..thats it.

So...when i fill it in for myself...am i answering for myself alone with regards to questions such as "How many items do you have on hire purchase?" ..etc... or answer as a household...?

needhelpindebt

Hi, I currently owe £30K to various credit card and loan companies. This is mainly due to online gambling over the last 6 months (I am visiting GA to help me with this). I cannot even afford the minimum payments on these debts and have no savings / equity in house to pay it off either. My monthly minimum paymenst are approx £400 whereas i can only afford £300 at best.

I have spoken to my parents about the debt and they would like to help me. They have said that they can raise £20k from releasing equity in their property.

Is it possible for me to agree full and final settlements with these creditors for about 70% of the total ammount? As they have only really been accrued in the last 6 months and i have yet to miss a payment?

Also will the fact that these debts are due to gambling affect this?

many Thanks

Any help / advice is greatly appreciated as i do not know what to do at the moment

L-Jay

universal82 wrote: »

Hi there

I have been making payments to CCCS through a DMP for about 4 years and they've been a great help for me.

However there is a possibility that I will be made redundant sometime soon as there is talk of redundancies at work. It's been a bit of a stressful time, not to mention what happens with my DMP payments. I've not got any savings and it's going to be a struggle to get by on what I would get in a redundancy payment.

Obviously I would be looking for a job but my DMP repayments would have to be significantly reduced until then. Would it be acceptable to reduce payments until I find another job or would my DMP have to end?

Hopefully this won't happen but I suppose it's best to query what would happen now before I lost my job .

Many thanks.

Unfortunately, this is exactly the position I am in. I had a review with CCCS yesterday and they have proposed temporary reduced payments on my DMP until I am working again.

CCCS_Sue

Confuzzled90 wrote: »

Sorry if this has been asked before but there is so many pages to go down.

My partner and I owe £12.000(Estimation) to various catalogues.
Our joint income has now been reduced to £411 per month and currently were being asked to pay around £150 on catalogue repayments.

What can I do??

I heard about a debt consolidation but when I applied he said I have to continue pay our catalogues for a further few months as we have purchased from them and it would be classed as 'fraud' if we went ahead straight away!! :eek:

I'm really struggiling to keep up with the payments.. we have no food and I don't know what else I can do to keep our heads above water.

Does anybody have any adivce??

Hi confuzzled90 and thank you for your message

I think they are trying to pressurise you into keeping up the payments!

Your priorities need to be looked after first.

These would include things like rent/mortgage/ council tax/ utility bills/food etc.

Put together a budget showing your income and expenditure.

Whatever is left after paying your priorities is the amount you can realistically offer to repay your catalogue debts. Do not be pressured into paying more than you can afford.
You cannot give them money you do not have.

I would recommend that you call for an appointment to speak to one of our debt counsellors about your situation.
The counsellor will explore all the options available for your situation.
It is not fraudulent to seek help and advice!
The free helpline number is 0800 138 1111. Lines are open from 08.00 until 20.00.

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