WELL DONE CCCS - not! HELP PLEASE WHAT DO I DO NOW?

Deep_In_Debt

And Barclays will offer you a Visa debit card on a basic account also.

eyeopener2

As will Nationwide.

Tsia

Thanks for all your replies.
Yeah I can 'apply' for a debit card on that account in december. grrrr they will need to see 6 months worth of a minimum £500 per month going into the account.. and thats ONLY ONE of the criteria!

My credit score is really bad now cos of all this.. and its just getting worse. :mad::(:(:(:(:(:(

Yes I am fully aware that favouring one creditor over the next is frowned upon and dont plan to favour any.

I just have to work out how to do this.
I am so scared and worried that I'm getting very ill.
Thats just a truthful fact not a vote for sympathy.

Thanks for being helpful.

I am planning to get some Advice from CAB.. and also seeing the Santander in house bank account advisor tomorrow to see what they say I can do.
Gonna have a read up before I go there so I know what to ask for.

I have no support in this matter so this forum and kind words really are appreciated. x :kisses3:


By the way/ My creditors are barclay card, capital one, vanquis and santander.
all in debt.

current acc is HSBC.

what bank can offer a basic bank account WITH debit card that ISNT joined to any of the above? does anyone know?

Tsia

GREAT And I just learned from other threads thats SANTANDER are the rotweilers of the finacial world when it comes to getting back theire monies! c cry cry cry.. I aint looking forward to this with having no help from CCCS now,

unsuremom

Hi keep your chin up chick x I opened a cashminder account with co-op which is a basic account that has a debit card and is not linked to any of your creditors. It was dead easy to open and you can pay in and withdraw at postoffices if you dont have a branch to hand xx

winner12

Hi there
It does seem at present a nightmare but you need a SOA showing all your outgoings this will work out how much you have left to pay your creditors send this with your offer to each creditor and keep sending it until they get fed then they will default you and pass you to a DCA then interest and charges should stop

sammy115

Yes santander are not your friends......they will not help you they will just help you give them their money back.

The CCCS should accept your tax return as proof of income. Do you not have them?? I would advise you to immediately start making nominal payments to all your creditors.

saltnvinegar

Hi Tsia
Just read this thread (and also your original one).

The first thing here:

You should be really proud of is dealing with your debts. I know this is a massive step and a difficult one and you deserve massive credit for tackling this.

:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T

Don’t get down or depressed, there’s really no need to be, you have done nothing wrong. All thats happened is you’ve fallen foul of one of the perils of modern life. Rather than bury your head in the sand and ignore it you have decided to pick yourself up and deal with it which cannot be faulted by anyone!
:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T

So to answer your question – yes it is possible to do a self administered debt management plan.

It is something that I am doing (and many other DFW’s on this forum) and I have to admit I get a real sense of satisfaction doing this myself. I think you could do, and the resiliency you have shown and outlook on life you have would indicate that this may actually be the best route for you.

The first thing you need to do is produce a realistic Statement of Affairs (Income/Expenditure). This must be realistic as you are going to need to stick to this for some time to come.

The second reason for this to be realistic is that you are going to ask your creditors to accept this in good faith. You will lose that good faith if you are not realistic and then cannot keep your end of the deal.

It is also necessary so that in the (very unlikely) event that they change their minds/sell the debt to a DCA etc that you can then prove unreasonable behaviour.

You can find a good SOA calculator here:

Statement of Affairs Calculator

You can even post this to MSE if you’re happy to let people help you with where you can save money.

Once you have done this you will then have a (hopefully) surplus amount that you can use to pay off your debts.

If you do not have a surplus then be honest about this as it changes your options.

But for now I will work on the assumption that you do have a surplus.

This should be split fairly amongst your creditors. So to keep the maths simple lets say you owe £10k with 4 creditors and have £100 per month surplus this is how it would work:

Creditor A has a balance of £2000 therefore 20% of your total debt therefore get £20/month (20% of your surplus)

Creditor B has a balance of £5000 therefore 50% of your total debt therefore gets £50/month (50% of your surplus)

I am keeping things simple here and on the basis that interest is frozen for all your creditors but you get the idea......

Once you have this calculation you then need to write to all your creditors informing them you are entering into a DMP and stating what you can afford to pay them (Tixy put a link earlier in the thread to this letter – post # 2 )

Once these letters have gone be prepared. Some of your creditors will (initially) be unpleasant to deal with. Santander are no exception (but likewise are not the worst).

However some will also very positive and happy to help.

The important thing is to keep everything in writing. Never be tempted to call your creditors be telephone. They will say things on the phone and put pressure on you that they will never be prepared to commit to in writing.

Regards Santander, it is a positive thing that the overdraft you had with them is now included in your debt, because thats exactly what an overdraft is – debt.

Getting this included and cleared too will only help you over the longer term.

I am a bit confused though as to why your basic account with HSBC won’t give you a debit card. I set up my new account with Natwest and got a debit card immediately.

I know Co-Op do one too.

Might be worth ditching HSBC and moving to one of those.

I think I have gone on a little too long now I don’t want to overwhelm you with a mammoth response (!) so heres some links to a couple of threads that may help you a little.

The first is a thread I started on some of the things you need to be aware of when embarking on a DMP. The second is my own LBM and experience.

DMP's - Myths and Truths

New DFW - Learn from my pain!

Just a word of caution. This is not to worry you but I think that it is important that you do need to be aware of the risks of entering a DMP.

Your situation is slightly different to most in that you have a rental property (with equity) that is providing your income, rather than the fact the property is your family residence.

Your creditors will know this and may threaten charging orders.

As it happens this is not necessarily a bad thing anyway but be aware that this sort of threatening behaviour from creditors is normal.

Some people actually get threatened with this when they don't even own any property at all which shows that the letters they generally send out are templates (referred to as threat-o-grams) and are not personally directed at you at all.

If you do get this its important to understand that obtaining a charging order is a very difficult thing for them to get as generally they would first have to get a CCJ, and you would then have to default on this. It is very rare for a CO to be awarded outright.

It is important to not let this frighten you as this is the only leverage your creditors have over you.

Please, please, please don’t let this frighten you. I was in two minds whether to even discuss this at this early stage but thought you would be better served by being better informed, rather than this sort of threat come as a surprise at a later date.

However it is highly unlikely that that things would get to this stage and if you can demonstrate that you are making reasonable effort to sort things out then its even more unlikely as Judges do not award Charging Orders lightly.

All the more reason to get a payment plan in place sooner rather than later and show that you are being reasonable and have serious intent of getting things sorted.

I’ve subscribed to this thread so when you’ve absorbed everything if you’d like the benefit of my experience I’d be happy to help.

The important thing is to keep posting – there are a lot of experienced people on here who have gone through similar experiences and will be able to give you guidance and help.

Being on a DMP is a little like being on a rollercoaster, but sharing the experience makes you realise that you’re not alone.

Best
SnV

Tsia

Thanks everyone for your replies.
It makes me stop worrying briefly and I feel I can tackle this head on.

And special thanks to you S&V for that wealth of info. I will try to answer some valueable points with BOLD Caps. lol



The first thing you need to do is produce a realistic Statement of Affairs (Income/Expenditure). This must be realistic as you are going to need to stick to this for some time to come.

The second reason for this to be realistic is that you are going to ask your creditors to accept this in good faith. You will lose that good faith if you are not realistic and then cannot keep your end of the deal.

DONE(IN THE PROCESS OF FROM TIXYs LINK TO NATIONAL DEBT .CO.UK
WILL ALSO DO IT ON THERE TOO> Statement of Affairs Calculator

You can even post this to MSE if you’re happy to let people help you with where you can save money.
(WHATS MSE?)

Once you have done this you will then have a (hopefully) surplus amount that you can use to pay off your debts.

If you do not have a surplus then be honest about this as it changes your options.

But for now I will work on the assumption that you do have a surplus.
(YES MY SURPLUS IS APPROX £125 PER MONTH. VERY REALISTICLLY ITS SLIGHTLY MORE COS I SELL STUFF ON EBAY BUT HAVENT INCLUDED THAT POCKET MONEY COS ITS NOT GUARANTEED>> ONE MONTH IT COULD BE £100, THE NEXT MONTH IT CAN BE £500.)I HOPE THIS ENSURES ME I CAN STICK TO OFFERS OF PAYMENT JUST INCASE ONE MONTH I HAVE TO PAY OUT ON REPAIRS TO MY CAR OR SIMILAR UNPLANNED OUTLAY!

Once you have this calculation you then need to write to all your creditors informing them you are entering into a DMP and stating what you can afford to pay them (Tixy put a link earlier in the thread to this letter – post # 2 )
YEP ALREADY SAVED THAT LETTER (THANKS TIXY)

Once these letters have gone be prepared. Some of your creditors will (initially) be unpleasant to deal with. Santander are no exception (but likewise are not the worst).

However some will also very positive and happy to help.

The important thing is to keep everything in writing. Never be tempted to call your creditors be telephone. They will say things on the phone and put pressure on you that they will never be prepared to commit to in writing.
(THANKS FOR THIS. I AM KNOWN TO WORRY INSTANTLY CALL ABOUT STATEMENTS IN LETTERS THAT ARE NOT OF ANY RELEVANCE TO MY SITUATION AND CALL THEM IN TEARS) I HAVE TO REMEMBER THIS!

Regards Santander, it is a positive thing that the overdraft you had with them is now included in your debt, because thats exactly what an overdraft is – debt.
YES I RECOGNISE THAT THIS IS THE BEST THING FOR ME NOW

Getting this included and cleared too will only help you over the longer term.

I am a bit confused though as to why your basic account with HSBC won’t give you a debit card. I set up my new account with Natwest and got a debit card immediately.
I HAVENT A CLUE> THEY ARE REVIEWING MY ACCOUNT IN DECEMBER> I HARDLY USED THE ACCOUNT FOR OVER A YEAR.. ONLY PUT MONEY IN TO SAVE FOR CERTAIN BILLS BUT WITH MY CIRCUMSTANCES THIS SOON STOPPED> ORIGINALLY IT WAS JUST AN ACCOUNT FOR TENANTS RENTS TO GO INTO.. SEPERATE FROM MY SALARIED WAGE.. BUT I DONT WORK NOW WITH 1 YEAR OLD)


I know Co-Op do one too. (MAY BE ABLE TO APPLY ONLINE?)


Might be worth ditching HSBC and moving to one of those.
(SHUCKS DONT SAY THAT I MAY HAVE TO IF I CANT GET A DEBIT CARD SORTED IN DECEMBER- WHICH IS UNFORTUNATE COS I HAVE JUST MOVED ALL MY DD'S TO HSBC)

I think I have gone on a little too long now I don’t want to overwhelm you with a mammoth response (!) so heres some links to a couple of threads that may help you a little.

The first is a thread I started on some of the things you need to be aware of when embarking on a DMP. The second is my own LBM and experience.

DMP's - Myths and Truths

New DFW - Learn from my pain!

Just a word of caution. This is not to worry you but I think that it is important that you do need to be aware of the risks of entering a DMP.

Your situation is slightly different to most in that you have a rental property (with equity) that is providing your income, rather than the fact the property is your family residence.

Your creditors will know this and may threaten charging orders.
(HOW WILL THEY KNOW THIS? I HAVE NEVER TOLD THEM AND SURELY ITS NONE OF THEIR BUSINESS?)

As it happens this is not necessarily a bad thing anyway but be aware that this sort of threatening behaviour from creditors is normal.

Some people actually get threatened with this when they don't even own any property at all which shows that the letters they generally send out are templates (referred to as threat-o-grams) and are not personally directed at you at all.
THANKS FOR THE HEADS UP!

If you do get this its important to understand that obtaining a charging order is a very difficult thing for them to get as generally they would first have to get a CCJ, and you would then have to default on this. It is very rare for a CO to be awarded outright.

It is important to not let this frighten you as this is the only leverage your creditors have over you.

Please, please, please don’t let this frighten you. I was in two minds whether to even discuss this at this early stage but thought you would be better served by being better informed, rather than this sort of threat come as a surprise at a later date.
THANKS FOR MENTIOING THIS EARLY> I CAN BE PREPARED.

However it is highly unlikely that that things would get to this stage and if you can demonstrate that you are making reasonable effort to sort things out then its even more unlikely as Judges do not award Charging Orders lightly.

All the more reason to get a payment plan in place sooner rather than later and show that you are being reasonable and have serious intent of getting things sorted.

I’ve subscribed to this thread so when you’ve absorbed everything if you’d like the benefit of my experience I’d be happy to help.

The important thing is to keep posting – there are a lot of experienced people on here who have gone through similar experiences and will be able to give you guidance and help.

Being on a DMP is a little like being on a rollercoaster, but sharing the experience makes you realise that you’re not alone.
THANKYOU SO MUCH FOR YOUR TIME TO REPLY- IF I GET STUCK WITH SOMETHING I HOPE YOU DONT MIND ME ASKING YOUR DIRECT ADVICE. x
:T:T:T:T:T

NorthernLas

MSE - money saving expert (this forum/website)

Co-op bank you can apply by telephone or in branch - ask for a Co-op cashminder account. You could keep the HSBC as a bills account if you wanted.

You have a mortgage on your property, it will be on your financial records - not sure what happens if it is paid up or whether the DCAs can search land registry records.