Have messed up with CCCS- what do I do now?

tugrin

Please can anyone advise me - when I first started my debt - free journey I already had a current account with a £500 overdrat facility, with the Norwich and Peterborough which I switched my salary payment into. I set up all the DDebits and ran it beautifully for several months. Then DD came home from Uni at the end of June with no money and no job for the summer plus a huge debt for back rent. I didnt actually give her a huge amount of money but I 'paid for her' for 4 months using the £500 overdraft facility (food, some clothes, only a few driving lessons - no nights out or anything)
So I ended up with NO money by the second week in October with a week to go to pay day. I rang CCCS and explained all this - and they pointed that I shouldn't have run up the o/draft or even HAVE one as it was against their terms. I have been stupid I didnt think about it because it was an existing account.
I have tried to get the mortgage arm of NandP to allow me to pay interest only for 3 months - they wont.
So I now have to contact CCCS and tell them I have no way of paying the O/D off and then I expect they will throw me out and does this mean I am looking at bankruptcy and does it mean I will lose my house?

Tixy

Hi

Yes you've made a mistake but if you've just ended up with £500 more debt there is no reason you'll need to consider bankruptcy and no reason you'll lose your house.

First contact CCCS and admit you've been stupid and see if they will let you add your debt to your DMP.

If they won't then you could try switching to payplan to run your DMP (including the new debt) - payplan are also free, or at a push you could consider a self-administered DMP, basically you take over and pay your creditors the reduced payments each month (but be careful of this option if you don't think you'd be disciplined enough to stick to it).

tugrin

Thanks Tixy - if the £500 is added to the debt does it mean Ill have to get another bank account? (God I cant beleive how thick I have been in retrospect) - the reason I transferred banking to this account which I already had was because I was so terrified that I wouldnt be able to get an account elswhere. Oh why have I compounded my stupidity I was just beginning to get a hold on my depression and now its all been swept away because Im such a crap person at parenting and budgeting and just bl**dy life in general.
I love both my kids but I havent done them any favours bringing them up in a financial muddle no wonder my 25 year old doesnt want to see me on my birthday tomorrow hes probably psychic and knows all I will do is moan

paulmapp8306

Speak to the bank direct.

As them if they can remove your overdraft facility, and transfer the month you owe on it either onto a loan with fixed payments (which you can afford) or another arrangement where you can pay them directly (similar to a DMP - but just with this debt).

If you can sort it out yourself this way, CCCS need not know any more - just that the debt is gone.

TBH I have an OD and Im on a CCCS DMP. The OD was there before I started the plan but was not being used - therefore did not go on the DMP. While technically wrong The OD has been used - an managed withing the budget I do with CCCS. That is, I pay the OD fees and any money that I spend taking me into my OD from what I have left (normally a little food money and scrimp for a month - or use a small ammount of the clothes or prezzies or emergency fund). Its never got bad - the most Ive been in is £200 in 11 years.

happyhaddock_2

Hi Tugrin, please stop beating yourself up, these things happen.

You need to open a BASIC bank account, one that doesn't give an overdraft, and isn't linked to any one you owe money to. I'm with the Co-op the've been very good, but other banks do them as well. Then get your wages/payments transferred in to the new account and your old account becomes just another debt to go into your DMP.

Good luck x

antonia1

Hiya, as others have said, don't panic - everyone makes mistakes. You've been given some good advice on how to handle the OD by others, what I'd just like to add is that you need to make sure you talk to your daughter about debt. If she's getting into rent arrears, and struggling to cover her costs you need to get her to do an SOA - point her to this site if she doesn't want to do it with you. Uni is very tough financially, but if you manage to get through it without too much debt you are likely to be much better equipped to deal with life's financial challenges after uni.

tugrin

Thank you so much paul, haddock and antonia - your ideas and support are hugely appreciated - I can see that there might be a way to 'dig myself out' of this stupid mess. Im going to make an appt. to talk to my bank tomorrow.
antonia - it isnt my daughters fault - she is unable to get the full overdraft on her student account due my idiocy with a joint credit card that we opened for her gap year abroad. She is actually the best of the of us at budgeting and making £1 do the work of 2. And she does any work that she can find so I dont think she is going to leave uni with the same cavalier attitude to money that has been my downfall.
Anyway thank you so much again.