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CCCS_Sue

JP1901 wrote: »

I posted this in the credit card section but it may have been in the wrong place so I have posted it here too - hope that is ok!

This may go on a while so I will apologise now. Basically I am after some help on how to deal with Capital One. I have been in touch with CCCS regarding my debt, after going through everything we agreed that before we went down the DMP route I should contact all the companies I owe money to myself & see if I could come to a mutual arrangement, I have done this now and every company has been helpful & all plans have been arranged and are being paid. Apart from Capital One. I offered to pay them £80 per month until the balance is paid off, they wouldn't accept this & said that I had to fill in a statement of earnings form, which they then did not bother sending, they have been calling & calling me (I have got to the point of ignoring their calls now which I know I shouldn't do), I explained to them (when I did answer) that I had not received this form so they said they would send this again, this finally arrived on Thursday, when I look through the form though they want all of my partners details, income only though, and then they want me to also provide copies of all my bank statements, wage slips & copies of all the household bills, do I really have to send this into them or is there another way I could deal with them & come to a mutual arrangement? Any advice or letter wording etc would be much appreciated, this is the last debtor I have to set up a plan with now.

Incidentally - I have been keeping up with the £80per month off my own back for the last 3 months as this is how long this has nowe gone on for.

Thanks

Julie

Hi Julie and thank you for your message

First of all, it is good to hear that most of your creditors have accepted your offer.

If you have already sent Capital One a copy of your income and expenditure, then you do not need to send anything further.
Just stick to what you can afford and do not be pressured into paying more.
You can’t give them money you do not have!
They should not be harassing you by constantly phoning all the time.
You can ask them to remove you from their telephone database and communicate in writing only. I have attached a sample letter you could use:


Dear Sir/Madam

I am writing to ask that you no longer contact me by telephone as your calls are causing me considerable stress due to the frequency, and that they are being made at inappropriate times. Please remove my telephone number from your database and send all future communication in writing to my home address.

I have provided the most recent copy of my income and expenditure to make you aware of my current financial situation. I will continue to make my payment of x on the x of every month and will keep you informed of any changes in my circumstances as I am keen to resolve this issue as soon as possible.

I understand that following this request if you continue to call I can contact the Office of Fair Trading to make a formal complaint.

Please confirm in writing that your records have been amended.

Yours sincerely

Send the letter recorded delivery and keep a copy for yourself.

Hope this helps

Regards
Sue

gobsmacked_of_bristol

Hi this is the 1st time ive asked a question here........ not sure if im doing it right. Anyway here goes. We have started our DMP and have made our 1st payment to CCCS on the 1st Sept. We have 50k + credit card and personal loan debt, our payments to CCCS are £600. One of the reasons we have struggled in the past is that my husband had to take a massive reduction in his pay - £100 per week. He also had to change his position meaning that he is now working 4.30 am til 1.30 5 days a week including weekends. I know were lucky to be working but its not an ideal situation and it is effecting him and our family a lot. He had no choice about taking the new job it was that or nothing. Anyway he has a friend who is self employed. His friend is very busy at the moment turning away work etc, and his friend has asked him if he wants to work with him on a self employed basis. This is the question - how will it effect our DMP ? what if he earns more than hes earning now ? what about expenses, its decorating he will need to buy his own kit ? what if the work dries up ?

3431Anna

Hi, hope everyone is doing o.k., I have a DMP with payplan and it has been running o.k. bu today i have received my statement from sainsbury bank which hasn't had interest on since May 2010 thenmy september statement has arrived with interest on and also interest accrued for june added is it o.k. for them to do this thanks for any help

dadooronronrondadooronron

Hello.
I have been contemplating setting up DMP with CCCS and have gone onto debt remedy. I just have one main query about salary. I have put my salary down (an average of what I have received last few months as can vary). However I have had overtime in last 4 months but there is no guarantee it will continue so my salary could easily drop by £200-£300 per month anytime. Should I list my salary without the overtime even though recent payslips show overtime? Does that make some sort of sense?

i have been writing to credit card companies every fortnight keeping them updated and making token payments but just want to get on and set up DMP now as not all of them are being reasonable.
thanks RON

Mrs_Veg_Plot

Have we done the right thing?

Found out four days ago that hubby owes 21K to credit cards and had been unable to meet the payments over the last few months so they had started to spiral. Having picked myself up off the floor we went to the Building society and remortgaged the house. We can make this payment and still afford the other monthly outgoings. I am working an extra shift most weeks to try to build up some savings with the long term plan of making overpayments on the mortgage. Hubby returned from working overseas last week and has been fortunate enough to get another job that starts next week. Pay not good but at least it will be a regular income. The plan is to have a joint account for both our wages that I will manage (he will not have a card to access it and I now have his credit cards). Having looked at some of the advice on here I'm not sure if remortgaging was the best option. Can any one offer some advice?

CCCS_Sue

gobsmacked_of_bristol wrote: »

Hi this is the 1st time ive asked a question here........ not sure if im doing it right. Anyway here goes. We have started our DMP and have made our 1st payment to CCCS on the 1st Sept. We have 50k + credit card and personal loan debt, our payments to CCCS are £600. One of the reasons we have struggled in the past is that my husband had to take a massive reduction in his pay - £100 per week. He also had to change his position meaning that he is now working 4.30 am til 1.30 5 days a week including weekends. I know were lucky to be working but its not an ideal situation and it is effecting him and our family a lot. He had no choice about taking the new job it was that or nothing. Anyway he has a friend who is self employed. His friend is very busy at the moment turning away work etc, and his friend has asked him if he wants to work with him on a self employed basis. This is the question - how will it effect our DMP ? what if he earns more than hes earning now ? what about expenses, its decorating he will need to buy his own kit ? what if the work dries up ?

Hi and thank you for your message

It is normally guaranteed income that is used when putting together a budget to work out what is affordable to pay towards your DMP.
Any extra income is usually worked out on an average over the year. Lump sums can also be made from any income not guaranteed.

The regularity of the work would be taken into consideration.

I would recommend that he calls our client support team who would be happy to discuss this further with him.

Regards
Sue

CCCS_Sue

3431Anna wrote: »

Hi, hope everyone is doing o.k., I have a DMP with payplan and it has been running o.k. bu today i have received my statement from sainsbury bank which hasn't had interest on since May 2010 thenmy september statement has arrived with interest on and also interest accrued for june added is it o.k. for them to do this thanks for any help

Hi 3431anna and thank you for your message

A creditor has the right to add charges and interest. All charges that can be added are stated upfront in the terms and conditions of the credit application which you are required to sign to take out credit.
In most cases, there is nothing you can do to stop interest and charges being added. 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.
Usually, a creditor will stop interest and charges either after they issue a default notice or they pass it onto a debt collection agency, although this does not always happen.

Regards
Sue

CCCS_Sue

dadooronronrondadooronron wrote: »

Hello.
I have been contemplating setting up DMP with CCCS and have gone onto debt remedy. I just have one main query about salary. I have put my salary down (an average of what I have received last few months as can vary). However I have had overtime in last 4 months but there is no guarantee it will continue so my salary could easily drop by £200-£300 per month anytime. Should I list my salary without the overtime even though recent payslips show overtime? Does that make some sort of sense?

i have been writing to credit card companies every fortnight keeping them updated and making token payments but just want to get on and set up DMP now as not all of them are being reasonable.
thanks RON

Hi Ron and thank you for your message

You need to put down your net guaranteed income. You would need to include overtime if it was regular, in which case you could work out an average.
When submitting your payslips, you could add a note explaining how your income has been worked out, so that our client support team know why there is a difference.
If they require further information regarding your salary, they will contact you.

Regards
Sue

CCCS_Sue

Mrs_Veg_Plot wrote: »

Have we done the right thing?

Found out four days ago that hubby owes 21K to credit cards and had been unable to meet the payments over the last few months so they had started to spiral. Having picked myself up off the floor we went to the Building society and remortgaged the house. We can make this payment and still afford the other monthly outgoings. I am working an extra shift most weeks to try to build up some savings with the long term plan of making overpayments on the mortgage. Hubby returned from working overseas last week and has been fortunate enough to get another job that starts next week. Pay not good but at least it will be a regular income. The plan is to have a joint account for both our wages that I will manage (he will not have a card to access it and I now have his credit cards). Having looked at some of the advice on here I'm not sure if remortgaging was the best option. Can any one offer some advice?

Hi Mrs Veg Plot and thank you for your message

It really depends on your full financial situation and whether your jobs are secure.
The thing to consider when remortgaging is that you are securing the debts onto your property which means your home could be at risk if you do not keep up the payments.
It could also potentially push you further in debt after all the interest has been added.
There may have been other options he could have considered such as negotiating reduced payments to his creditors.
As long as you maintain your payments and your husband doesn’t take out any further credit then it should be fine.

Regards
Sue

Janjel

I was on a debt management plan about 4 years ago, one of the creditors was the credit union. The debt managment company i went through was so bad I ended up having to quit if 2 years ago and make settlement payments to creditors direct. I ended up in a lot of debt after being in a violent relationship and partner ripped me off - I got some money back from him eventually and paid creditors from it.

I assumed the DMP company were making payments to credit union as they listed they had - I did not hear from credit union whole time so assumed they were fine with agreement - about a year ago they contacted me to say they had not received any payments from me in over 2 years - i asked what was outstanding and they told me £500 - i paid this over 10 months as this was all i could afford and thought i had cleared this debt now they are saying that I owe an additonal £450 interest. If they had mentioned this at time I could have increased my payments a bit to allow for interest. I offered £225 to them as I feel interest accrued is partially their fault for not contacting me for 2 years and ignoring letters from DMP. DMP refusing to give back any money as I cancelled contract with them. This is such a mess now Credit union want me to their offices for meeting which I do not want to attend as feel they will intimidate me - cannot afford what they are asking and am borrowing £225.

Sorry for rant but really need advice.