should I use CCCS or carry on

gabymum

Hi

I was made redundant last July and we ran into difficulties on some commitments.

I started work again in February and although the salary is similiar to before, I only work 4 days and have to pay out lots in travelling and for flat rental (the job is some distance from home)

We have kept creditors informed and are up to date with mortage, secured loan, council tax and all utilities. However, we are in arrears with 2 loans and 3 credit cards. We have always paid something to them but under the minumum. As this has now been going for approx 6 months some of these creditors are now defaulting the loans.

I realise our (previously very good) credit record will look poor but which is worst - talking to CCCS and making an arrangment with all of them or keeping up with some and defaulting on others, or doesn't it make any difference?

Thanks

nataz

Hi not sure I can be much help but as far as defaults go they stick around for 6yrs and a DMP with like of CCCS doesnt actually show on your records.

I guess it comes down to how much money you have, how much hassle you are getting from creditors and possibly the amount you owe.

Im on a DMP with CCCS and have two years left with over 8K. 5 creditors have defaulted but the remaining three just state that there have been missed payments, obviously cos they are getting far less than the mins now!

HTH a little

We have a DMP thread - without a paddle, if you ever fancy a chat with others going through the various ways of managing debt

rdchick

Hi!
To be fair it wouldn't make much difference in regards to your credit file as one default pretty much trashes it however if you are struggling to pay everyone maybe reducing the payments and asking to freeze interest might be best, you can do this either via CCCS or do it yourself xxx