Struggling to pay Debt is DMP CCCS the solution

Mrs_Arcanum

TAB1981 wrote: »

Thanks im going to call into a bank tomorrow and open a new account for my DMP , then I just need to swap my Direct debits over

Make sure it is a bank without any ties to your existing debts.

sandrafraz

Well done for getting that done through the CCCS, I have found that they are very good and understanding. We have been with them for about 7months and we can slowly see some of our debts decreasing. One thing that was frustrating and the CCCS advised us on and now is sorted was that we have two accounts with Lloyds and my husband had a credit card with them and we had a loan with LLoyds and although they were accepting our payment plan, they were still charging us interest and so instead of the debt going down it seems to be going up all the time because we weren't paying their minimum. CCCS suggested we write to them demanding that they stop the interest for the rest of the debt or until we can manage to pay more and refund all the interest they have charged in the meantime. Because as per the lending code they are not allowed to do that because they are aware of our situation, well I thought I have nothing to loose so did that. Well we received a letter from the Lloyds Credit card division and they are refunding back £750 to the account for the interest we paid and have stopped the interest going forward. The others have written back to and said that they will stop the interest going forward. but they are referring the rest to their debt recovery team. If any one wants a copy of my letters I will be happy to send through.

Keep going guys we will all get sorted in the end.


Debt free in 2018 (long way away but we keep hacking away at it)

:j

TAB1981

sandrafraz wrote: »

Well done for getting that done through the CCCS, I have found that they are very good and understanding. We have been with them for about 7months and we can slowly see some of our debts decreasing. One thing that was frustrating and the CCCS advised us on and now is sorted was that we have two accounts with Lloyds and my husband had a credit card with them and we had a loan with LLoyds and although they were accepting our payment plan, they were still charging us interest and so instead of the debt going down it seems to be going up all the time because we weren't paying their minimum. CCCS suggested we write to them demanding that they stop the interest for the rest of the debt or until we can manage to pay more and refund all the interest they have charged in the meantime. Because as per the lending code they are not allowed to do that because they are aware of our situation, well I thought I have nothing to loose so did that. Well we received a letter from the Lloyds Credit card division and they are refunding back £750 to the account for the interest we paid and have stopped the interest going forward. The others have written back to and said that they will stop the interest going forward. but they are referring the rest to their debt recovery team. If any one wants a copy of my letters I will be happy to send through.

Keep going guys we will all get sorted in the end.


Debt free in 2018 (long way away but we keep hacking away at it)

:j

Thanks ,with Lloyds at the moment we have 2 bank accounts ( but these will now not be used due to DMP ) 2 loans and 2 credit cards , I think somewhere in the future we may have problems with Lloyds TSB and I will have to send them a letter in.

TAB1981

My new account is now open ive just got to swap everything over and get rid of a few unnecessary direct debits that will save us some money. We got offered a £5000 overdraft on the new account , the lady said we are allowed this due to us having good credit score , this would of not been the case 1 month on from now with all our savings gone and not enough income to pay all the debts , we said no to this as we want to start clearing our debt with CCCS and this would of been tempting to use , it just shows how easy it is to get deeper in debt

No more debt from now on , time to knuckle down and get rid of our existing debts and start living our lives again without worry

Thanks everyone

RAS

Try to close those bank accounts with Lloyds, otherwise they may well ransfer the debt on the credit cards and loans to the bank accounts by making monthly payments. That makes things more difficult for you.

You will need the Lloyds accounts to be in balance before they let you do this.

TAB1981

RAS wrote: »

Try to close those bank accounts with Lloyds, otherwise they may well ransfer the debt on the credit cards and loans to the bank accounts by making monthly payments. That makes things more difficult for you.

You will need the Lloyds accounts to be in balance before they let you do this.

Thanks mate were going to do this over the coming week

TAB1981

DMP is now activated and our first payment of £636.00 comes out on the 1st September , so far Lloyds TSB have sent us letters to say thanks for the token payment and letting them know where in financial difficulty , NRAM has sent us letters to say before they consider a lower payment we need to give them more information about our current income and outgoings and have charged us 3 x £10 because our direct debit has failed 3 times , Do I contact NRAM and give them my DMP reference number or do I just contact DMP to let them know about the letters NRAM have sent us.