Newbie-about to embark on the CCCS route-advice please?

Jak65

Time_to_face_the_music wrote: »

Hope some of this is useful but copy and paste your post to the DMP support thread and I will guarantee you will get some more answers

Hi, thanks for the reassurance about the envelope! That did give me a good laugh! :rotfl: I will definitely get on to the DMP support thread - thank you. x

paul and Hatecreditors (me too:mad:!) thank you both as well for your input. I suppose everyone has different experiences with different creditors, I will just have to see.

Still being a complete wuss and not taken the plunge yet - I have just taken three days off from work with a view to sorting everything out once and for all, and have done nothing except read these boards! That's not a bad thing though is it? I do feel better - just need all the reassurance (even about envelopes ) that I can get! I did finally pluck up the courage to add up all my debt :eek: for the first time ever, and submit the debt remedy form, which was quite an achievement for me, believe me - but that's as far as I've got. Stick with me though, I'll get there with all your help and advice.

Jak. x

Time_to_face_the_music

Jak65 wrote: »

Hi, thanks for the reassurance about the envelope! That did give me a good laugh! :rotfl: I will definitely get on to the DMP support thread - thank you. x

paul and Hatecreditors (me too:mad:!) thank you both as well for your input. I suppose everyone has different experiences with different creditors, I will just have to see.

Still being a complete wuss and not taken the plunge yet - I have just taken three days off from work with a view to sorting everything out once and for all, and have done nothing except read these boards! That's not a bad thing though is it? I do feel better - just need all the reassurance (even about envelopes ) that I can get! I did finally pluck up the courage to add up all my debt :eek: for the first time ever, and submit the debt remedy form, which was quite an achievement for me, believe me - but that's as far as I've got. Stick with me though, I'll get there with all your help and advice.

Jak. x

Make a list of all the reasons why you are putting this off, all your worries and concerns, then sort them into priority order, e.g. 1) I don't want anyone to find out I am in debt; 2) I don't think my creditors will stop interest; 3) I am worried it may affect my job etc. Then people can help you address them and offer their similar experiences. :A

We don't want people to know we are on a DMP so when people ask us to do things or where are we going on holiday this year, we tell them the truth in a roundabout way, i.e. we have decided to get rid of all our debt, we have cut up all our credit cards and to pay them off. Most people are gobsmacked then admiring :T

Three of our creditors haven't stopped interest so after many letters being ignored and whitewashed complaints, we have decided it was worth a try with the FOS. We can't guarantee it will work but the FOS seemed to think we were in the right so we'll just keep our fingers crossed. Oh and today NatWest suddenly decided to give us £50 for ignoring our complaint for so long :j
I am honestly not 100% sure about the legal job situation and debts but someone here will know and someone here will know the answer to most of your questions and will reassure you with your concerns and worries. :idea:

You can do this! I will be here to support you and so will lots of other people

Gimpsdad

Since my last post on this thread, 3 of you have admitted that ceditors refuse to freeze interest on one or more of the debts you hold. None of you have any way of calculating your debt free date due to this interest. Hopefully, CCCS will get all your interest frozen tomorrow and everything will be ok again. As they are paid a commission for collecting your debts by creditors, and as said creditors point you to CCCS at every turn, hopefully you won't notice that you are not actually being given impartial advice at all, but advice that leads to a financial incentive for the organisation which gives it.

Feel free to disagree with me, but the OFT and ASA might have trouble with defining that as impartial. Smoke and mirrors, and you all fall for it.

Time_to_face_the_music

Gimpsdad wrote: »

Since my last post on this thread, 3 of you have admitted that ceditors refuse to freeze interest on one or more of the debts you hold. None of you have any way of calculating your debt free date due to this interest. Hopefully, CCCS will get all your interest frozen tomorrow and everything will be ok again. As they are paid a commission for collecting your debts by creditors, and as said creditors point you to CCCS at every turn, hopefully you won't notice that you are not actually being given impartial advice at all, but advice that leads to a financial incentive for the organisation which gives it.

Feel free to disagree with me, but the OFT and ASA might have trouble with defining that as impartial. Smoke and mirrors, and you all fall for it.

You know I partially agree with you over CCCS et al but we needed that support when we first started this debt free journey. Whether we continue with CCCS until the end of our DMP is under discussion, I am tempted to go it alone, my OH doesn't want to rock the boat.

I have read more on your advice and I am a tad shocked at the figures on CCCS and more so Payplan, and I am truly appalled by Payplan's StakeYourClaim etc. It actually makes me very glad that we chose the CCCS route and not Payplan. However despite how CCCS are funded, they still offer a free service to their clients and you can't argue with that.

Yes three of our creditors are still charging interest but it won't alter our debt free date because we have developed means of paying that interest outside our DMP and if that is seen as not being fair to our creditors, well tough because they are not being fair to us. If CCCS don't like it, maybe that will be the shove that makes us go it alone, if they don't notice we will plod along and just change the debt figures online each month.

We don't want an IVA for a variety of reasons but mainly because we have a very low mortgage with a short time to run and we don't intend to being forced into selling our house. I can see that an IVA or bankruptcy may be far better for a lot of people on long term DMPs and that you feel they were pushed into a DMP by CCCS or Payplan.

But has it occured to you that some people do their homework first and don't just phone up the debt management company blindly in desperate need of help? CCCS's debt remedy was a formality and we never actually spoke to anyone from CCCS until after we had set up the DMP and only then because I needed to know the best way to make our first and very fast payment. I was amazed we were allowed to do this but the facility is clearly there for "self service" so they obviously know that some of their clients go there fully prepared and knowing exactly what they want.

I like some of your posts, especially when you come out and offer straight advice to people who would be better served with an IVA or bankruptcy. I don't like veiled hints, say what you mean, these people need help. Particularly I don't like you assuming that we are all a bit thick and can't see what is at the end of our noses and are just sheep blindly led by the CCCS or Payplan shepherd. Some of us know what we want and we are getting it.

Jak, the OP, clearly stated in more than one post that she does not want an IVA. If you think an IVA is the best solution for her, (and I am not sure how you can without knowing all the facts), present a clear case of the advantages. I would like to see a tables of pros and cons of DMP v IVA v Bankruptcy in a particular case. Do you have an example you could use? Our starting debt was £81306 with a payment of £1784 per month if you want to use that as an example, if you need more details, I will be happy to supply them.

TTFTM

thatsean

Jak65 wrote: »

Hi, thanks for the reassurance about the envelope! That did give me a good laugh! :rotfl: I will definitely get on to the DMP support thread - thank you. x

paul and Hatecreditors (me too:mad:!) thank you both as well for your input. I suppose everyone has different experiences with different creditors, I will just have to see.

Still being a complete wuss and not taken the plunge yet - I have just taken three days off from work with a view to sorting everything out once and for all, and have done nothing except read these boards! That's not a bad thing though is it? I do feel better - just need all the reassurance (even about envelopes ) that I can get! I did finally pluck up the courage to add up all my debt :eek: for the first time ever, and submit the debt remedy form, which was quite an achievement for me, believe me - but that's as far as I've got. Stick with me though, I'll get there with all your help and advice.

Jak. x

Go for it Jak, I've put my story on here - I'm very new to this DMP malarky, it was one week ago that I called Payplan. I don't think I can add anything that others haven't said, but I understand your desire to do the honourable thing and settle your debts.

Best of luck to you!

S. :j

Jak65

Time_to_face_the_music wrote: »

Make a list of all the reasons why you are putting this off, all your worries and concerns, then sort them into priority order, e.g. 1) I don't want anyone to find out I am in debt; 2) I don't think my creditors will stop interest; 3) I am worried it may affect my job etc. Then people can help you address them and offer their similar experiences. :A

We don't want people to know we are on a DMP so when people ask us to do things or where are we going on holiday this year, we tell them the truth in a roundabout way, i.e. we have decided to get rid of all our debt, we have cut up all our credit cards and to pay them off. Most people are gobsmacked then admiring :T

Three of our creditors haven't stopped interest so after many letters being ignored and whitewashed complaints, we have decided it was worth a try with the FOS. We can't guarantee it will work but the FOS seemed to think we were in the right so we'll just keep our fingers crossed. Oh and today NatWest suddenly decided to give us £50 for ignoring our complaint for so long :j
I am honestly not 100% sure about the legal job situation and debts but someone here will know and someone here will know the answer to most of your questions and will reassure you with your concerns and worries. :idea:

You can do this! I will be here to support you and so will lots of other people

Thank you so much Yes, your three points are my main areas of concern. I am totally on my own in this - no one has any idea of the extent of the mess I'm in, and I think I would die of shame if anyone found out. The debt problem began during my first marriage - accumulated by both my ex and myself, but the majority of it in my sole name as I 'dealt' (lol) with the finances. When he left me and our two children, we sold the house and I repaid everything that was either joint or in his sole name, but still had loads of debt left in my name. (He wasn't aware of the extent of the debt either ). So, for the last 10 years or so I have been struggling with it on my own. I re-married (again Mr. Jak no. 2 has no idea) but have been living on credit so as not to raise the alarm as all my salary is taken up in making repayments and he would wonder where all my money was going. What a mess. So many times I've tried to tell him but just can't bring myself to do it. I have decided that, hopefully, when I'm up and running on a DMP I will come clean. I have always made sure that we never had anything in joint names to protect him, but he must wonder why I've always been so reluctant.

With regard to creditors freezing interest - well, they either will or they won't I suppose. I don't care if it takes me until the end of time to pay everything off (which hopefully it won't!) I just want to ease the burden and be able to get some sleep again - it's seriously beginning to affect my health now, both physically and mentally.

Regarding the job situation, I work for a legal practice but only as a clerk, I'm not a professional. I have been in the same job for nearly 30 years. Just recently, however, stringent regulations have come into place which means that all employees have to be CRB and credit checked. It's all to do with money laundering and fraud and the fact that we also act on behalf of mortgage lenders. I am not involved with or handle monetary transactions as part of my job, so it's a bit OTT really. I am hoping that they are just looking out for bankruptcies or IVA's but, even so, what are they going to do? Sack members of staff with years of service because they are struggling financially?

Please reassure me (again, sorry!) that I'm doing the right thing by approaching the CCCS, I am so worried about everything and the shame is killing me.

Thanks for everyone's contributions so far.

Jak. x

Jak65

thatsean wrote: »

Go for it Jak, I've put my story on here - I'm very new to this DMP malarky, it was one week ago that I called Payplan. I don't think I can add anything that others haven't said, but I understand your desire to do the honourable thing and settle your debts.

Best of luck to you!

S. :j

Hi, thanks so much for that. You're right, I do want to settle my debts in full, even if it takes me years, I'm embarrassed, angry and ashamed. Well done to you for taking the plunge, hopefully I will be joining you soon.:T Best of luck to you also, and please keep me posted on how you're doing. I'm still so scared!

Jak. x

paulmapp8306

Gimpsdad wrote: »

Since my last post on this thread, 3 of you have admitted that ceditors refuse to freeze interest on one or more of the debts you hold. None of you have any way of calculating your debt free date due to this interest. Hopefully, CCCS will get all your interest frozen tomorrow and everything will be ok again. As they are paid a commission for collecting your debts by creditors, and as said creditors point you to CCCS at every turn, hopefully you won't notice that you are not actually being given impartial advice at all, but advice that leads to a financial incentive for the organisation which gives it.

Feel free to disagree with me, but the OFT and ASA might have trouble with defining that as impartial. Smoke and mirrors, and you all fall for it.

NOBODY can force creditors to freeze, remove or reduce interest - they can only ask. Many creditors reduce interest for a 6 month period then review - in the hope you will be back on your feet and can pay them higher interest again. ive never known ANY creditor who keeps interest from 2 years after the default/DMP.

CCCS are a non profit making organisation, but there not funded - they have to get pay for wages, phone bills, office space etc - and they get this from the creditors NOT the debtors. Most management companies charge the debtor - which adds to the issue.

Creditors point to CCCS BECAUSE of this. They are actually worse off because of this recommendation as they pay for collection BUT they would get less per month is the debtors pays the management company. This does not mean its not impartial - it is BECAUSE CCCS dont make any profit. They do offer IVAs and bankruptcy as options IF those are right for the individual. They DO however, try to get ALL debts repaid if possible - which is why they mostly suggest DMPs. This is quite right IMO. Individuals ran up the debt - and they should pay the WHOLE debt back. They just need help so there not OVERPAYING it (in interest) and so it can be managed within their budget.

i really dont get why your so anti DMPs, and CCCS.

Jak65

paulmapp8306 wrote: »

NOBODY can force creditors to freeze, remove or reduce interest - they can only ask. Many creditors reduce interest for a 6 month period then review - in the hope you will be back on your feet and can pay them higher interest again. ive never known ANY creditor who keeps interest from 2 years after the default/DMP.

CCCS are a non profit making organisation, but there not funded - they have to get pay for wages, phone bills, office space etc - and they get this from the creditors NOT the debtors. Most management companies charge the debtor - which adds to the issue.

Creditors point to CCCS BECAUSE of this. They are actually worse off because of this recommendation as they pay for collection BUT they would get less per month is the debtors pays the management company. This does not mean its not impartial - it is BECAUSE CCCS dont make any profit. They do offer IVAs and bankruptcy as options IF those are right for the individual. They DO however, try to get ALL debts repaid if possible - which is why they mostly suggest DMPs. This is quite right IMO. Individuals ran up the debt - and they should pay the WHOLE debt back. They just need help so there not OVERPAYING it (in interest) and so it can be managed within their budget.

i really dont get why your so anti DMPs, and CCCS.

Just wanted to say, I agree with you whole-heartedly paul, we should pay the WHOLE debt back. If it takes years, tough, so be it. If a DMP relieves the pressure and restores some semblance of sanity, I really don't care how long it takes.

thatsean

Jak65 wrote: »

Hi, thanks so much for that. You're right, I do want to settle my debts in full, even if it takes me years, I'm embarrassed, angry and ashamed. Well done to you for taking the plunge, hopefully I will be joining you soon.:T Best of luck to you also, and please keep me posted on how you're doing. I'm still so scared!

Jak. x

I was terrified when I made the first call, but it suddenly becomes a lot easier after that, In one week I've sent lots of letters to creditors pointing them to Payplan, and had a massive clear out of old letters, done scanning and shredding. I feel like i'm on top of it all now. There isn't a penny outstanding that I don't know about, and I'm already feeling a lot better.

I used to work for a telecoms firm, and we credit checked employees as we sold insurance, and therefore had to comply with some form of FSA regs. The rules we used were CCJs were fine so long as a payment plan was in place before the employee knew about the credit check, and it was up do date. Discharged BR was fine. Undischarged BR, arrears on court ordered CCJ payments and CIFAS/fraud was not.

Clearly I don't know what your employer is looking for, but I'd have thought they are fairly standard checks, and don't seem too unreasonable - the test seems to be has the person "bitten the bullet" as it were. Perhaps a chat with your HR people might be in order?

No-one can make the decision for you, I did it because I'm an expert in my field of work, I'm not in finance. I'd rather let someone who has arranged 1,000 payment plans before arrange one for me, rather than try on my own.

From what you've posted on here, I honestly believe that entering into the DMP can in the short term certainly not make things worse, and mid to long term give you real optimism about the future.

My thread is "about to take the plunge" in the DFW section, I am sure some of it will resonate with you. Hopefully it helps.