CCCS - DMP Payment Dates

davo50

Hi

I currently have a DMP with CCCS and I would be obliged if someone from CCCS could clarify why the latest date in the month they will accept DMP payments is the 10th when according to their website creditors don't receive payment until on or arround the 25th of the month. 15 days seems a long time to process received payments before creditors receive them.

andy1886

Hi , I'm not from the CCCS but I have a dmp with them and as I understand it the way it works is that they take the payment off you and keep it in their bank account until the end of the month then pay the creditors . The interest this money makes them for this period of time means we don't pay them any fees for the work they do for us .

StepChange_Pavan

davo50 wrote: »

Hi

I currently have a DMP with CCCS and I would be obliged if someone from CCCS could clarify why the latest date in the month they will accept DMP payments is the 10th when according to their website creditors don't receive payment until on or arround the 25th of the month. 15 days seems a long time to process received payments before creditors receive them.

Hi Davo50 and thanks for your question.

There are specific processes our system has to complete in order to prepare and allocate funds to our clients' accounts each month. We distribute hundreds of thousands of individual payments on behalf of our clients and dividing their monthly payment between their creditors - and allocating funds to specific accounts - is a complex and time consuming process.
This is why we ask all our clients to make their payment early in the month to allow us sufficient time to complete this process.

Whilst this work is underway, our system is locked. During this period, file changes cannot be processed nor can client payments be allocated to accounts. The date the system is locked differs each month based upon the number of working days available which is why we provide a payment cut off date of the 10th of the month to our clients.

This date may change depending upon whether there are any bank holidays in the month and clients will be informed in advance if they need to make their payment earlier.

I hope this answers your question.

Kind regards,
Pavan

davo50

CCCS_Pavan wrote: »

Hi Davo50 and thanks for your question.

There are specific processes our system has to complete in order to prepare and allocate funds to our clients' accounts each month. We distribute hundreds of thousands of individual payments on behalf of our clients and dividing their monthly payment between their creditors - and allocating funds to specific accounts - is a complex and time consuming process.
This is why we ask all our clients to make their payment early in the month to allow us sufficient time to complete this process.

Whilst this work is underway, our system is locked. During this period, file changes cannot be processed nor can client payments be allocated to accounts. The date the system is locked differs each month based upon the number of working days available which is why we provide a payment cut off date of the 10th of the month to our clients.

This date may change depending upon whether there are any bank holidays in the month and clients will be informed in advance if they need to make their payment earlier.

I hope this answers your question.

Kind regards,
Pavan

Thanks for your reply explaining payment process