Help with no signed credit agreement with Studio

winner12

Hi
What did CCCS say to you

Flyboy152

So, what has happened to your debt management plan?

katrina00uk

Well I just had my yearly review and they were going through the debts and they asked if I ever signed a credit agreement for studio and I said no so they told me to send them the request for it as if Studio do not have one then the debt is unenforceable.

Flyboy152

So, if you had been managing to repay the debt, what has changed now?

katrina00uk

Nothing has changed it is just the lady on the phone at cccs just asked me about the credit agreement. I am really confused now though as I am not sure whether I should have listened to her. Will ring them again to see.
Thanks for all your help

katrina00uk

I am still on my dmp and will be for another 5 years

fermi

katrina00uk wrote: »

Nothing has changed it is just the lady on the phone at cccs just asked me about the credit agreement. I am really confused now though as I am not sure whether I should have listened to her. Will ring them again to see.
Thanks for all your help

Interesting that they suggested it.

Normally they don't tend to be of the opinion that you should stop paying just because there isn't an enforceable agreement.

However, perhaps they were thinking that it might be easier for them to get interest/charges frozen, or even negotiate a reduced settlement, if there was no agreement?

Definitely give them a call back and tell us what they say. I'd be especially interested to hear what they think, as I've heard them give some very dubious advice in this area in the past.

winner12

I must agree with Fermi
If your on a DMP why would they recommend a route that could possibly damage what you have done so far

Flyboy152

fermi wrote: »

Interesting that they suggested it.

Normally they don't tend to be of the opinion that you should stop paying just because there isn't an enforceable agreement.

However, perhaps they were thinking that it might be easier for them to get interest/charges frozen, or even negotiate a reduced settlement, if there was no agreement?

Definitely give them a call back and tell us what they say. I'd be especially interested to hear what they think, as I've heard them give some very dubious advice in this area in the past.

Or is that just some people's wishful thinking, or their own misinterpretation of what the CCCS has advised?

winner12

Hi
The CCA route is now quite risky and you would really need to understand what it all entails definitely ring CCCS back.