Help needed

lucylong1

a daft question here, sorry for being money stupid i was told to email payday loan folks and give a printed copy to my bank to enable quick quid not to be able to take money of my account on due date due to me being set up in this plan, as due date will be before it arrives from them for me to sign etc..i gave copy to my bank there now and they said they will let their HO know not to allow this payment, what i wanted to know was, when my paper work arives of play plan , do i pay play plan a monthly amount so that they then distribute the monies between lenders or have i got that wrong?

RAS

Lucy

Go for a new basic bank account provided by a bank which has no relationship with your existing account holder.

1. payday loan providers have stripped new accounts held by banks related to one another.
2. A basic account does not require a credit check.

lucylong1

hi yes i applied for a basic account also today , i have to wait 2 banking days to see if i got it or not

RAS

if you have any money in your existing account, take it out now and pay it into the new account in two days time.

lucylong1

so does cccs take my case and i pay them each month and they distribute it to my lenders, is that how a dmp works?

925pws

lucylong1 wrote: »

so does cccs take my case and i pay them each month and they distribute it to my lenders, is that how a dmp works?

Hi Lucy

Yes you are right. Whatever Payplan or CCCS have worked out for you, they take this amount via direct debit and distribute between your creditors. So you only have one payment go out each month.

Also, there are no silly questions here so keep them coming, we will be here to support you in whatever way we can.

RAS

Yep

First they work out how much you need to live on, then they take the rest of the money and distribute it to your creditor, pro-rata.

If you have a really rough month (something major has to be replaced and you cannot get it on freecycle) then they take less or even suspend payment that month.

lucylong1

thank you everyone, sometimes people that have been in debt and are getting free become life savers for us new ones...

if you were gold you lot in here you would be priceless xx

925pws

lucylong1 wrote: »

thank you everyone, sometimes people that have been in debt and are getting free become life savers for us new ones...

if you were gold you lot in here you would be priceless xx

If I were gold lucy I'd consider selling bits of myself to pay off these blooming debts :rotfl::rotfl::rotfl::rotfl::rotfl:

Seriously, thank you We're all in this together, if it weren't for some of the wonderful people on here - especially at the beginning of the week - goodness knows what I would have done. You all know who you are

lucylong1

just got this back from quick quid

In response to your recent email, we regret to hear about your financial circumstances. We understand hardships can and will come about. Please have someone from your debt management company to contact us. We will be more than happy to assist you in your time of need. However if no arrangements are set up by your actual due date, Collections activities will go into affect. Thank You.

how long do you think it will take for me to get the paper work from cccs?