F&F while on CCCS

cissko

Hello,

I am in desperate need of help please.

I have been on CCCS for more then a year now. A couple of months after I joined, I was offered a new job for almost double the salary I used to earn.

On top of the creditors I was repaying through CCCS, I had a big debt with family members. Within a year I was able to pay them back about £10K. I still owe them £6K. In order to be able to repay my family, I did not inform CCCS about my new jod (and better salary).

A few months ago, they asked to review my account and I have not responded to them yet.

Having repayed a big chunk of the entire debt to my family, I am now contemplating repaying my creditors with F&F settlements. I could comfortably settle some of them that are less themn a 1000 pounds. I have 3 of them over a 1000 pounds only.

I made some enquiries and was contacted by First Step Finance yesterday.

My total debt is £7633 (£4 of which is split into 3 accounts with Metropolitan / HSBC) which I reckon I could save by december this year. FSF told me the worse case scenario, I would be repaying incl. their fees £5100 and best case scenario £2900 pounds.

I have seen a lot of negative feedback about FSF and am not too comfortable dealing with them although it seems I would end up paying less.

On the other hand, I am scared to ask inform CCCS about my situation seeing they would take all the money i am able to save at the moment to repay my creditors and i would not be able to pay my family back anymore.


I would like to offer F&F to my creditors but do not know if I can do this without telling CCS about it. If i did, would they stop the agreement I have with them ? If so, i would end up being harrassed again by the creditors ? I wouldn't be able to offer F&F to all of them at the same time.

Shall i keep quiet with CCCS and save until I have enough money to make F&F to all creditors ar shall i speak to them ?

Has anyone had this issue before ?

Please help.

Deep_In_Debt

Don't touch FSF when you can do it yourself for free - there are template letters on the National Debtline website.

You will have to tell CCCS if you pay a debt off - they will then re-distribute your money to the remaining creditors so they will get more and keep them happy and you will be debt free sooner.

I'm with CCCS and have made F&F's along the way; still paying the same amount. CCCS are there to help you get debt free, so speak to them. They can send you template letters too - they did with me and all the contact names of my creditors.

No need to pay for the services of FSF to do this and not sure that CCCS would look too kindly on it either.

bottleofred

Totally agree with deep in debt. You can send template letters and negotiate the amount of settlement yourself, so why would you pay somebody to do it for you. You will also need to keep the cccs informed of your circumstances to ensure you don't breach the dmp (particularly if you settle any accounts, so the payments can then be redistributed to your other creditors).

Good luck

Red

cissko

Thank you Deep in debt and Bottleofred. :-)

I will sort things out without FSF. Do I let CCCS know about my change of circumstances (ie higher salary) ? If I do, will they not want me to pay them much more which in time will result in me not being able to save for the full and final settlements?

I have thought about calling CCCS and then explaining the whole situation and see what they say. but am really worried they would tell me i don't qualify for DMP anymore and stop my contract...