Struggling with debt? Ask a debt advisor a question

Ames

Please could the CCCS person check out this thread: https://forums.moneysavingexpert.com/discussion/2706497

Thanks.

ajbrynoffa

Hi i spoken to the cccs and they have advised me to pay nominal amounts toward my overdraft and credit card (both with the halifax).I have now moved everything across to a new bank account as advised but i`m worried that the halifax will just keep racking up the interest and i`ll be left in a far worse mess than i`m in now....any advice?

CCCS_Sue

canonalberic wrote: »

Hello again; another question:

I'm currently negotiating Full and Finals with my creditors. I offered HSBC 70%, but they wouldn't go for it; on the phone they have said they will accept 90%. I said fine, but I'd like confirmation in writing that said 90% is Full and Final and that no attempts will be made to recover outstanding balance before I part with my money. I asked them to email me with confirmation of this, but they refused, saying that as their calls are recorded, that's sufficient evidence of its being Full and Final.

Am I okay to go ahead, or is there something dodgy about this practice?

Many thanks once again

Hi canonalberic and thank you for your message.

The money should not be sent until the creditors have accepted your offer in writing.

You should keep a copy of the creditor’s letters.

You also need to ensure that the creditor marks your file ‘satisfied in full’
The creditors should do this because they have agreed to accept the payment as a full and final settlement and are only marking the credit file accordingly. This can be checked by asking the credit reference agencies for a copy of your credit file.
Marking your file as partially satisfied may enable them to pursue the debt at a later date.
If you have only spoken to them on the phone, it is better to put your offer in writing. Keep a copy for yourself.

If you would like a copy of our full and final settlement pack, send an email to [EMAIL="contactus@cccs.co.uk"]contactus@cccs.co.uk[/EMAIL]

Regards
Sue

CCCS_Sue

roberts516 wrote: »

Hi all just had a letter of Hsbc my account has been closed ! no surprize there and they have sent me a Direct Debit form for new payments.I am too scared to send this off as they will have control over how much they take. I am also scared that they could clear my new Bank Account(with a different Bank ) So Ive decided to pay them £100 cash this week and next week when I get paid set up a Standing order for £200pm. This way I have control of my payments and paying abit extra (£30pm) of my arrears which I think stand at £800.What would you advise please.

Standing order is a better idea, as you have more control.
Have you worked out how much you can realistically afford to repay them?
Don’t be pressured into paying more than you can afford as you need to ensure that your priority bills are kept up to date.
Also,any surplus money after paying all your priorities, needs to be distributed among your creditors on a pro rata basis, so that they all get a fair share.
If you would like to discuss this further and get advice on your options, you can call us free on 0800 138 1111. Lines are open from 08.00 until 20.00
Alternatively, you can use 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

StepChange_Pavan

Mega_drained wrote: »

Hi
Im out of my mind with worry - this is the situation
I owe circa £40k - breakdown as follows:-
Business rates £10k
Council tax £1K
Loan - £10k - in process of going to debt collection agency
Credit cards - £10k
CCJ - £5k (only registered last week)
Tax credits overpayment £3k (please believe not my fault)

Own my own house (paid outright) - worth £90k

My business failed (hence all the above) and my husband has left me

My dad has offered to give me his life savings £20k

Where do I start? Will anyone accept offers?
All the above havent been paid for around 6-8 months and I have quite foolishly ignored letters (im sure you can appreciate I had a breakdown, on medication etc, but managing to hold down a full time job)

Tried re-mortgaging but because of the ccj they wont entertain me.
Been told if I clear it in a month it will disappear.
But have 2 defaults on my credit rating (approx £10k)

Think thats about it
Thanks for looking

Hi and thank you for your message.

You are right that if you pay the CCJ in full within one calendar month from the date of the judgement, it will be removed from your credit reference file. However, this does not guarantee that you would be successful in an application for a mortgage.

I recommend that you contact us to book an appointment with one of our trained counsellors. There may be other options available to you depending on your whole income and expenditure. Tell them about the £20,000 that your dad is willing to give you so that they can explore full and final settlements as a solution as well. 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.

Kind regards,
Pavan

CCCS_Sue

Lizzyindebt wrote: »

Hi

I have been on a DMP with a company called The Debt Dissolver for just over a year, but since then my circumstances have changed (I got made redundant and had a baby), so my income is a lot lower than when I set the plan up. I have been advised by someone at CCCS to contact my creditors and offer them £1 a month as my outgoings are now more than my incomings.

I have now spoken to the Debt Dissolver and advised them that I am going down the CCCS route and will be making minimum payments to my creditors myself (and saving myself the monthly fees). The response I have got from the debt management company has been quite harsh and scary. They are implying that if I come out of the debt management plan with themselves, I will be breaking the agreement with the creditors and will have a charging order placed on my property (which I have jointly mortgaged with my husband). She also said that I would only be able to make nominal payments for a couple of months before being chased to make larger payments. My baby is only 4 months old, and I wanted to wait a little longer before trying to find work (my MA runs out at the end of November).

Am I right to be scared about the charging order? I know that my credit rating is already poor, due to my DMP, but don't want to be forced into selling my family home, which has little equity in it.

Any advise would be helpful

Thank you

Hi Lizzieindebt and thank you for your message

First of all, you are doing the right thing by making the payments yourself rather than paying fees to this company. At least the money you can afford is paying off your debts.
I think your creditors are more likely to be happier with this arrangement, as long as you maintain the payments you can afford!

Do not let them pressure or scare you into staying in the DMP if you do not want to.

The creditors can look at going down the route of a charging order, but they could do this whether you make payments yourself or stay with the DMP company.

If a creditor has a charging order they can apply to the courts for an order of sale. An order of sale gives the creditor the right to sell you house. However, this is extremely rare and is only ever used as a last resort. A lot of charging orders are granted in the courts but only a tiny portion result in an order for sale. If you can make at least some payment and you are not ignoring your creditors, it is very unlikely this will happen.
If a creditor does apply for an order for sale, contact us for advice as this is a complex legal area and we recommend you not to deal with it on your own.

Hope this helps.

Regards
Sue

StepChange_Pavan

ajbrynoffa wrote: »

Hi i spoken to the cccs and they have advised me to pay nominal amounts toward my overdraft and credit card (both with the halifax).I have now moved everything across to a new bank account as advised but i`m worried that the halifax will just keep racking up the interest and i`ll be left in a far worse mess than i`m in now....any advice?

Hi ajbrynoffa and thank you for your message.

You have been advised to move away from the Halifax to prevent them from taking your income to pay towards the debts you owe them. If you continue to put money into the Halifax account, your situation could be made worse as they could leave you with no money to live on.

If you are making reduced payments to your creditors, you can ask for the interest and charges to stop, although there is no guarantee that they will agree. The fact that you have been to us for help shows that you are serious about repaying your debts and your budget will support your offer, showing that you can’t afford to pay any more.

In most cases there is not much you can do to stop interest and charges as they are stated upfront in the terms and conditions of the credit application which you are required to sign to take out credit

However, if you make reduced payments over a long period of time, usually several months, most creditors will eventually stop charging interest and adding late payment charges.

I hope this helps to put your mind at ease but if you need further clarification, please don’t hesitate to call our Client Support department and they will be more than happy to help.

Kind regards,
Pavan

bomechina

Hi, I'm having issues with Provident. I was paying a reduced payment of £10 p.w until I started my DMP and now only pay £5. My collector phoned me on Monday to say that she has been instructed by her manager to stop collecting payments. She can only collect if I agree to pay £10 a week which I cannot afford.
Surely they cannot refuse to collect payments, however small. How do I go about paying back this debt if they are not going to take my money? Is there any guideline they need to adhere to regarding collection of payment? I'm really stressing about this. Thanks

debtfree2

Hello,

Im having issues with Lloyds TSB. I have an overdraft with them which was originally at about £1,500 and i agreed to pay off £50 a month as that was all i could afford. After the o/d accruing charges it is now at £2200 and still rising and spiralling beyond control.

I have come into a little bit of money (a little bit being £660) approx 30% off the full amount of my o/d and want to send lloydstsb a full and final settlement offer to see if they will accept.

Does anybody know the address i need to send it to please?

Any help would be fantastic!

freesaver123

hi, I am new to this site and have just posted off for your debt remedy, it says if i pay the requested amount it will take 4 years and 5 months to pay off, have you lots of success stories to share of people who have done this? ....................
thanks