CCCS/Pay plan etc etc..

zippee

Thanks everyone for replying, I had a good cry last night and have finally swollowed my pride, me and H have decided to contact the CCCS.

I won't deny I'm scared, I'm scared of ending up in court for CCJs and of debt collectors, I am still a tiny bit scared off loosing the house even though this is probably being irrational, I'm just scared I'm welling up sitting here thinking about it all. I think I'm scared because I have two small children if it was just me and H, I don't think it would bother me.

One of my CC companies called me last night and has put me on a reduced payment plan until march because I am £13 in arrears, does this affect me anyway?

I want to say that I really didn't expect to get any replies to any of my threads because I felt so alone with all this debt, but your all such nice people and so helpful. I don't feel soo alone anymore

xx

legoman

fatbelly wrote:

Yes, they have a minimum requirement of £100 per month being available across all your creditors.

CCCS require £5 per month per creditor as a minimum, which is usually less.

CAB have no minimum.

this i have not been told by them or no mention on this forum! so they decide to tell you when you sign up! sounds fishy to me. i thought the idea of this company was to help people with debt problems, now i have to find £100 a month?!!!!

livinginhope

Morning zippee,well done on facing everything,I think you're doing the right thing contacting CCCS,hope it all goes well.
Try not to worry about losing the house,I'm not going to say it will never happen,because it has a very slight possibility,BUT,and it's a big BUT,this can only happen if your creditors flatly refuse any offers you make,then they take you to court,this will give you a CCJ,if you then default on a payment plan for the CCJ the court can then put a charging order on your home,this VERY rarely happen as most creditors will agree to a DMP,this really is the last resort for the creditors before bankruptcy,so stop worrying

legoman wrote:

this i have not been told by them or no mention on this forum! so they decide to tell you when you sign up! sounds fishy to me. i thought the idea of this company was to help people with debt problems, now i have to find £100 a month?!!!!

Legoman,Payplan tell you this on the phone when you contact them about sorting your debts,nothing fishy at all,they help MANY people with their debts the £100 is just one of their criteria you need to meet.Give them a call and see what they can do for you.

LIH

in_over_my_head_2

Hi legoman,

Payplan work out how much you can afford once your priority bills have been paid, and they then work on your behalf to apportion this between your creditors and hopefully get the interest and charges frozen so that you can pay the actual debt. Whether this is easier for them to do if you have £100+ disposable income I'm not sure? For me they worked out I have £150 spare each month, but are still only asking me to pay £100 to creditors between them - which is a huge drop from the £700 they want!!

BTW, my Payplan pack arrived this morning, have you got yours yet?

Lisa982

Hello legoman, I think you have to have a certain level of disposable income available for the management plan to work:(We use Payplan)

For example, say your income is £1000 per month. They will work out a budget based on your expenditure, this included evertything EXCEPT your unsecured payments: so, maybe £400 mortgage and council tax, and for living costs & food etc £400, that would then leave you £200 per month to offer to your unsecured creditors!! I think thats what is meant by at least £100 so work out how much money comes in & what you have to pay back excluding any credit cards, unsecured debts.... what do you have left? That is the figure that payplan will use to negotiate an offer with your creditors as they explain to them that is all you have available each month.

Hope that makes sense?
xx

Lisa982

Ps: Not sure where that sad face icon came from? x

legoman

in_over_my_head wrote:

Hi legoman,

Payplan work out how much you can afford once your priority bills have been paid, and they then work on your behalf to apportion this between your creditors and hopefully get the interest and charges frozen so that you can pay the actual debt. Whether this is easier for them to do if you have £100+ disposable income I'm not sure? For me they worked out I have £150 spare each month, but are still only asking me to pay £100 to creditors between them - which is a huge drop from the £700 they want!!

BTW, my Payplan pack arrived this morning, have you got yours yet?

hi, they stopped helping to work out everything when i hadn't paid for three months on my loan. this means it would be fraud if i was to use payplan. the loan is on a payment holiday until march.

and no, my pack arrives tomorrow apparently...i should have £100 to give tham each month. i obviously didn't get that far before they had to stop because of the above...