DMP & Mutual Support Thread - Part 8

ktez

wanna-be-mortgage-free wrote: »

I've heard that CCCS have some 'helpers' in at the moment. Maybe you got a trainee but at the end of the day if creditors have accepted your repayments then go it alone.

Although CCCS will want to keep you as they get paid by the financial institutions!

Do they?! I didn't know this and thought they were a charity.

ktez

Thanks for the replies. I am abs !!!!ping myself but looking forward to getting rid of these chains that have been around my neck for too long!!!

Yes I called the co-op and they explained that my application (which is for the cash account - no chq book, OD etc) is with some other section that make the decision. Poss it is because of the holidays at start of the week etc I will hang on it there and see what happens.

I am reluctant to send my papers all back to cccs until I have this account open as, like you speshfesh, my current bank is also one of my creditors.

Daisypop

Hi ktez

I rang the Coop to open a cashminder account and went through the process on the phone and it was approved straight away. Only took a few days for my account details and debit card to come through so haven't had any problems. My advice is wait until beginning of next week and ring again.

Hopelessly_Hopeful

speshfesh wrote: »

Hi ktez,

I had a co-op current account which I hadn't used for over a year but which I needed to start up again to get away from my existing Nationwide account (NW CC and overdraft part of my DMP!).
Although I already had the co-op account and I could still log in online, they wouldn't send me any new cards until they saw salary funds going into the account. Once this happened, the card arrived without a problem.
I'm guessing that if you have a badit credit rating they may not want to give you an old style current account but they should be able to give you a cash card type account with the ability for direct debits surely? Especially as this probably wouldn't have any overdraft facility, credit card, etc attached to it:think:.
Make sure the co-op are fully aware of the funds that will likely be paid in each month and if that doesn't shift things along, ask about the other account options they have where you may be more 'suitable'.

Apart from the bank account issue, I'm at the same stage as you. :T
Send your letters and CCCS pack off as soon as possible.:eek:
The sooner you do this, the sooner you can get through the first hurdles.
I posted all mine yesterday with the CCCS ref number on them along with my pack to CCCS so mine isn't set up yet either!:rotfl:
The calls will not stop for a little while so get your thick skin ready and wait for CCCS to do their thing (I'm assuming CCCS have all your info?).;)

Sorry if I've missed anything or not understood something.:)

Spesh, little tip for you re starting off with CCCS. Log on using your reference number. When it asks you to input your password press forgotten button, it will take you through some security and then let you have your password for resetting. It's bliss to see things moving along.

HHx

Hopelessly_Hopeful

ktez wrote: »

Thanks for the replies. I am abs !!!!ping myself but looking forward to getting rid of these chains that have been around my neck for too long!!!

Yes I called the co-op and they explained that my application (which is for the cash account - no chq book, OD etc) is with some other section that make the decision. Poss it is because of the holidays at start of the week etc I will hang on it there and see what happens.

I am reluctant to send my papers all back to cccs until I have this account open as, like you speshfesh, my current bank is also one of my creditors.

My advice is when you are fretting or abs !!!!ping channel the energy into positive things that will help. Plan grocery lists, get on old style board. Clean all cuboards and wardrobes, you will be amazed at what's in there.

HTH

HHx

wanna-be-mortgage-free_2

ktez wrote: »

Do they?! I didn't know this and thought they were a charity.

They are a registered charity but they have to get their money somewhere. They don't charge clients but banks etc pay them. I don't know the ins and outs of how much they get and how they are paid, whether it's per client, percentage or set amounts each year.

I'm sure someone with this information could shed light on this?

ben80

HopelesslyHopeful, TimeToFaceTheMusic, speshfesh - thanks for the kind and encouraging comments. I think the fact you are relative strangers makes it a little easier to open up!

Longroadahead... Echoing previous comments, It's definitely worth giving the CCCS a call and see what they. I suspect you'll be fine on a DMP and they won't make you pay more then you can afford, even if this means reducing payments to your creditors - but don't let them bully you. If you're paying as much as you can realistically afford, then that's it.

ktez - I called co-op and the account was opened there and then. It was the cashminder account - no cheque book/overdraft and an electron card (still with 'Visa Debit' written on it... but doesn't work in self-service petrol pumps!) I'm pretty sure they'll give you that account whatever your status. Get the stuff sent off to get the ball rolling, regardless of the bank account. The sooner you start your journey, the sooner you'll be free of your debt! Good luck!

Growurown

ben80 wrote: »

I noticed this support thread and thought I'd share a few things.

Hi ben80, thanks for the post, it really helps to know that other people have got through and survived!! We have still got a few years to go yet before we are through our DMP and my job is increasingly looking like not lasting for much longer, be we will get through.

Longroadahead wrote: »

I've been trying to face up to my debt problem for a while and have been reading the discussions on here but only now getting the courage to speak up and ask for some advice on moving to a DMP.

ktez wrote: »

Thanks for the replies. I am abs !!!!ping myself but looking forward to getting rid of these chains that have been around my neck for too long!!!

Hey LRA & ktez, welcome to DMP land, stick around for advice and support, it is invaluable and so nice to know that you aren't alone.:)

speshfesh

Hopelessly_Hopeful wrote: »

Spesh, little tip for you re starting off with CCCS. Log on using your reference number. When it asks you to input your password press forgotten button, it will take you through some security and then let you have your password for resetting. It's bliss to see things moving along.

HHx

Thanks for the advice HH, I definitely feel relieved to have taken the steps to get debt free.:j

endora

ktez wrote: »

Do they?! I didn't know this and thought they were a charity.

They are a charity in the sense that they are a not-for-profit organisation but they ARE funded by the financial sector. Here it is, straight from the horse's mouth ---> http://www.cccs.co.uk/Corporate/Supporters.aspx

All funding is provided as a voluntary contribution from the credit industry and reflects the value they attribute to the help and support we provide UK households, the charity’s beneficiaries.
It is this unique mechanism that allows us to provide our services totally free to consumers and protect our independence for our clients.
From our original founders, primarily major lenders, we now have the support of the credit industry and associated organisations. Around half of the people who contact us are recommended to do so by their creditors. These are companies who take a responsible and sympathetic view when customers experience financial difficulties and work closely with us to ensure a realistic and practical solution is achieved.

http://www.cccs.co.uk/Corporate/Ourhistory.aspx

The pilot was successful thanks to support from GE, Barclays, Leeds Permanent (now part of HBOS), Registry Trust and Experian.