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StepChange_Pavan

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.

Hi Universal82 and thank you for your message.

If in the unfortunate instance that you do lose your job, I would recommend that you call our Client Support Team for a review of your situation.

Without knowing your full details, it’s difficult to know what your best option will be, but our counsellors will explore all avenues available to you.

Fingers crossed that you get to keep your job.

Kind regards,
Pavan

StepChange_Pavan

mrs1978 wrote: »

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...?

Hi mrs1978 and thank you for your message.

There are 2 options for you to consider and it is entirely up to you which way you would prefer:

Option 1. Only include your income. Next to anything that your partner contributes to, insert a comment to say ‘partner pays’ but don’t include the amount.

Option 2. Include both incomes and all household expenditure. This would need to include your partner’s debts too.

Remember that there may be other options available to you. If you need any further advice on what Debt Remedy has recommended, there will be a web support number which will be included in your advice booklet.

Hope this helps.

Kind regards,
Pavan

CCCS_Sue

ohdearyme1 wrote: »

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

Hi and thank you for your message

Your mortgage is your biggest priority and needs to be looked after first.
You can check your mortgage agreement, but I think it will probably state that your mortgage lender is able to change the mortgage rate when the concessionary rate finishes. You could try asking them to reconsider, but they have been fair reducing the amount for the agreed 12 months.
You will now need to update your budget with the new amounts for your mortgage and your tax credits and then review all your options again.
The other alternative could be to shop around to see if you could get a better deal on your mortgage, but you would need to make sure there are no penalty fees for changing to another lender.

Regards
Sue

StepChange_Pavan

needhelpindebt wrote: »

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

Hi needhelpindebt and thank you for your message.

I would recommend that you come to us for an appointment to discuss your situation in more detail. The counsellor will be able to explore all of your options as there may be other debt solutions that suit you better.

To book an appointment with one of our trained counsellors you would need to contact our helpline free on 0800 138 1111. Lines are open Monday to Friday 08:00-20:00. It would be helpful that when you call you have details ready regarding your income, expenditure and creditors, as this can help speed up the referral process. If you have this information ready it may be possible to refer you directly to a counsellor if one is available, otherwise we will arrange a time that is convenient for you to be called back for an appointment.

Kind regards,
Pavan

debtfear

I have massive debts.

I have two mortgages - but cannot get any return on the second one as my Mum lives in that house and she is unable to pay any rent.

Both mortgages combined are 118,000

I also have a secured loan on the property I live in - this is 41,000

On top of that are debts of 17500 on credit cards and personal loans.

I earn 1870 per month - and am drowning in debt.

Here are my outgoings:

Mortgage #1 - £585 - to come down to £385 in June 2011 if interest rates stay at current rate

Mortgage #2 - £268

Secured loan - £248 to come down to £180 if interest rates stay at current rate

Loan - 61 - over five years - 4 left to run

Credit Card #1 -£150 - balance -£3000

Credit Card #2 - £80 - balance - £3500

Credit Card #3 - £60 - balance - £2350

I'm left with £150 per month after council rates, insurances, phone and tv.

I need advice on how I can manage, I am really fearful and frightened.

Any advice, greatly appreciated.

StepChange_Pavan

debtfear wrote: »

I have massive debts.

I have two mortgages - but cannot get any return on the second one as my Mum lives in that house and she is unable to pay any rent.

Both mortgages combined are 118,000

I also have a secured loan on the property I live in - this is 41,000

On top of that are debts of 17500 on credit cards and personal loans.

I earn 1870 per month - and am drowning in debt.

Here are my outgoings:

Mortgage #1 - £585 - to come down to £385 in June 2011 if interest rates stay at current rate

Mortgage #2 - £268

Secured loan - £248 to come down to £180 if interest rates stay at current rate

Loan - 61 - over five years - 4 left to run

Credit Card #1 -£150 - balance -£3000

Credit Card #2 - £80 - balance - £3500

Credit Card #3 - £60 - balance - £2350

I'm left with £150 per month after council rates, insurances, phone and tv.

I need advice on how I can manage, I am really fearful and frightened.

Any advice, greatly appreciated.

Hi Debtfear and thank you for your message.

You’ve come to the right place for help.

We can only give you detailed advice once we have created a full income and expenditure with you. This is to ensure that we can give you the best possible advice that is tailored to you. Hopefully an action plan will help to put your mind at ease.

To do this, you can 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.

dadooronronrondadooronron

Hello

I have been on CCCS site and done debt remedy and been emailed summary and then DMP Pack. However I did it all in a bit of a rush (PANIC!!) and now realise there are debts I have missed off and the budget for food and other household bills needs adjusting a bit.

How should I go about this - I have tried to ring CCCS but I realise it is a very busy number. I am just wondering should I just start again and resubmit a new debt remedy or will that cause confusion. I look forward to hearng from you. RON

mjs12345

Hi, i am currently with a Debt Management Company called Gregory Pennington (which i have to pay £29.50 a month for!), i was just wondering do you do the same job for free? such as keep the creditors off my back? My financial situation has changed drastically over the last month as i have lost my job and am currently only paying Greg Penn £90 a month, (but seeing as they take £29.50, only £60.50 goes towards approx £24000 worth of debt!)

Would you take me on even though i am currently not working?

thanks, look forward to a reply.

Carosel_2

Hi
I took out a large loan £25K over 7 years last year the repayments were £408, at the time we were struggling with our huge mortgage of £1476 per month plus other committments. My husband is self employed and the recession hit his business. I am lucky to have decent full time job but our outgoings decimate my salary each month. I contacted our mortgage lender and halfed our mortgage payments for 12 months (this ends in October) however I couldn't afford the other loan repayments and ended the direct debit and wrote to them explaining why. The loan is unsecured. I have been paying money off as and when but it has now gone through a repayment agency who have now passed it onto a debt recovery outfit. I rang the repayment agency last week as I had managed to pull together £800 to pay them but they refused to discuss it as my debt had already been passed over (even though there was supposed to be a 10 day hold on my account) I have not heard from dept recovery agency as yet but I am now worried that i will get a court summons or bailiffs in the very near future. What do you know will happen next?

jackies41

Hi some advice please

Currentley in the process of starting DMP first payment should be next week to all creditors all have been ok about it except Aqua credit card who have seem to have ignorned all letters from me and the CCCS.

They have put further charges on August bill is this normal for them to do this and do you think once they get their £13.62 next week they will be ok everyone else has been ok about it. i dont want the debt to get bigger.

Thanks Jackiexxxx