Help! Advice needed

jillthecat

Hi everyone I'm new to this and could really do with some advice.

I've got a big debt with several creditors, I'm dealing with CCCS who have worked out my budget plan, and I've sent the template letter provided by CCCS to my creditors along with the pro rata payment. Shall I contact them by telephone as well as sending the template letter, or shall I just send the letter and the reduced payment and wait to hear from them? and what is likely to happen then?

I have rung some of them and feel like I've hit a brick wall. Some of them won't address the problem until I have completely defaulted and won't help to reduce the payments now, what is the right way to go from here?

Can the creditors refuse to help negotiate lower payments because I have used the card in the last 3 months, they say they can't reduce the monthly payments until I haven't used the card for 3 months, is this correct? I've had to use the card to live, but since speaking to CCCS and addressing the problem the cards have now been cut up!

All help and advice appreciated

Tixy

Hi Jill and welcome

I personally wouldn't bother phoning them.
What is likely to happen? either they'll write to accept your offer, write to say they won't accept it or might ask you to complete an income & expenditure form.
If this is what you have worked out you can afford then don't be bullied into increasing your offers and do make sure you make the pro-rata payment you have offered every month (regardless of whether they say they will accept or not).

Some will continue to charge interest until they have formally issued a default. Just stick with your reduced payments and wait for the default notice in the post. Once you have it then write again and ask them to reconsider freezing interest.

Creditors don't have to agree to the reduced payments and some might impose their own rules regarding once you last spent on it. Again all you can do is keep paying the amount you have offered. It might mean they add late payment charges for a month or so but hopefully after that they will agree to stop them.

Good luck

sickasachip13

jillthecat wrote: »

Hi everyone I'm new to this and could really do with some advice.

I've got a big debt with several creditors, I'm dealing with CCCS who have worked out my budget plan, and I've sent the template letter provided by CCCS to my creditors along with the pro rata payment. Shall I contact them by telephone as well as sending the template letter, or shall I just send the letter and the reduced payment and wait to hear from them? and what is likely to happen then?

Similar situation to us. We did this at the end of last year. We simply sent the template letter out and the reduced payment (by postal order). Then you wait.... In the meantime some will respond quickly, some wil agree, some might start ringing a lot (Barclaycard for us). Remember CCCS has worked out fairly what you can afford - don't be tempted or hassled into paying more seperately to the creditors.

To be honest it will take a few months for everything to settle and for you to know where you stand with everyone. I did do several follow-up calls to hassle them but only after about six weeks.

I have rung some of them and feel like I've hit a brick wall. Some of them won't address the problem until I have completely defaulted and won't help to reduce the payments now, what is the right way to go from here?

Just get your letters and payments sent out. Give them time to get the CCCS stuff too. Really its a game of waiting to see what they come back with when they are fully aware of the situation.

Can the creditors refuse to help negotiate lower payments because I have used the card in the last 3 months, they say they can't reduce the monthly payments until I haven't used the card for 3 months, is this correct? I've had to use the card to live, but since speaking to CCCS and addressing the problem the cards have now been cut up!

Not sure about this - certainly some of our CCs had been used right up until our DMP kicked in while others had been max-ed out for a long time. It has made no difference to DMP acceptance in our case at all - almost all our creditors have come on board.

All help and advice appreciated

Hope the above helps. Look at some of my previous posts if you like - we're only a few months ahead of you on this ride. We've found it really very well worth it.

jillthecat

HI Tixy, thank you for welcoming me,and your advice on what to do very difficult this journey,i foundthis site to have helped me so much over the last week! im so grateful to all you people who help each other,im sure i will be needing alot more help yet!!! only the start and im a wreck,will keep you posted as to how it goes thanks again

jillthecat

Hellosickasachip13,not read all your post but will do such a help that somebody else understands how you feel, like you maxed out on some cards and using others up till the last,some creditors helpful and others not so,had my hours cut at work which then did not give me choice but to sort out this mess im in, wish i'd done it sooner, i can't change that but im dealing with it now,im so ashamed i got myself into this mess at the moment i cant see much light at the end of the tunnel,but reading messages on this forum help's me to see things differently,cant go on DMP until i earn a bit more then i can,my debt is very much the same as yours, will keep u posted home this journey goes many thanks.