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mum2one wrote: »

Sorry if this sounds an odd question - thinking aloud - thought I'd ask this way incase someone was in / or going to be in same boat.Presently I'm on DMP and touch wood everything going ok, but if things went wrong, - big drop of income, creditors weren't happy with min payments - and 1001 other posibilities, what would the likelyhood of going bankrupt if you had debts over 15k so couldn't apply for a debt relief order?I know everything is done on an indiviual basis, - but was wondering what imput would CCCS be able to offer x

Hi mum2one and thanks for your post.

We’re glad the DMP is going well

If your circumstances changed and the DMP no longer worked as a solution we’d offer full support on whatever solution was best.

If bankruptcy became the best advice you’d speak to our dedicated bankruptcy team who help by talking you through what happens in bankruptcy, they can even give advice on how to fill in the forms and offer assistance with the fees where this is possible.

As bankruptcy is a form of insolvency it’s best to take full advice before petitioning and we’re always happy to give this advice.

I hope this answers your question.

Kind regards,

Mat

mum2one

Hi Mat as always your wonderful, thank you, hopefully won't need to go down that route but good to know that god forbid anything happens the support is there.Thank you again xx

supersavershal

Hi, Im just about to press send to commence my DMP. I have opened a new account with Halifax, and one with Natwest. I will have my salary paid into the natwest one and transfer £1100 each month to the Halifax one to pay all my direct debits like mortgage, council tax etc. My question is this, is it OK for me to use the Halifax switching service to move my direct debits from Santander (who I have debt with) or should I do it myself one by one?
Is it Ok to have two bank accounts, the Natwest one would have my salary paid in and pay stepchange.
I have not got an overdraft with Halifax or Natwest but there was one with Santander which has gone into my DMP, will using the switching service make Halifax aware of my overdraft or will they specificaly just switch my DD over?

morgymoo

I had a flexi loan with cahoot I was paying by D/D this stopped (not by me) then about 6 months later Santander were asking for repayments I had no notification that they had taken over the loan apparently it was by e mail as it was an online account strange that as Santander do not now have my loan online. I requested a SAR which was incomplete complained about their handling of my account heard nothing since last May now suddenly after ignoring my complaints they have sent me a letter saying I have to pay the arrears or they will claim the full amount and today another letter saying I would have a default issued against me. They wont tell me the interest rate or what I am supposed to pay I did get a refund of interest as they had over charged me do I have to pay the arrears or have I got a case against them can anyone advise please. Really worried about this should I perhaps make an offer to pay part as a final settlement.

mum2one

supersavershal wrote: »

Hi, Im just about to press send to commence my DMP. I have opened a new account with Halifax, and one with Natwest. I will have my salary paid into the natwest one and transfer £1100 each month to the Halifax one to pay all my direct debits like mortgage, council tax etc. My question is this, is it OK for me to use the Halifax switching service to move my direct debits from Santander (who I have debt with) or should I do it myself one by one?
Is it Ok to have two bank accounts, the Natwest one would have my salary paid in and pay stepchange.
I have not got an overdraft with Halifax or Natwest but there was one with Santander which has gone into my DMP, will using the switching service make Halifax aware of my overdraft or will they specificaly just switch my DD over?

I have 2 current accounts, thou i would sure that both dont have an overdraft facility, - just thinking aloud but if the halifax are doing a switching service there is a chance they may take the overdraft into the account, I would double check that

I personally stopped all the direct debits myself and restarted them as well, that way I knew what was where and going where. x

lisac123

Hi

I would like to ask for help in that i have loans and credit cards that i have never missed payments on.

I am a homeowner, again, never missed a payment on my mortgage.

I need to get my debts into one monthly manageable payment.

What are my options, lenders will not lend due to the amount of borrowing i have.

Thank you.

Lisa

kelly023

Hi there,

My partner is self employed and hasn't worked in 6 weeks and I'm a little behind on my payments to cc's. (before this he worked for a few months but was then out of work for 3 years so been tight over few years.)

He been taken on the books now but needs to work a week in hand.

So half anyway through feb I'll have my excess money again and can start paying ,arrears. I think I'll be 3 months in arrears in 1 before paying the arrears off.

Is this better than arranging a dmp?

Thanks

StepChange_James

supersavershal wrote: »

Hi, Im just about to press send to commence my DMP. I have opened a new account with Halifax, and one with Natwest. I will have my salary paid into the natwest one and transfer £1100 each month to the Halifax one to pay all my direct debits like mortgage, council tax etc. My question is this, is it OK for me to use the Halifax switching service to move my direct debits from Santander (who I have debt with) or should I do it myself one by one?
Is it Ok to have two bank accounts, the Natwest one would have my salary paid in and pay stepchange.
I have not got an overdraft with Halifax or Natwest but there was one with Santander which has gone into my DMP, will using the switching service make Halifax aware of my overdraft or will they specificaly just switch my DD over?

Hello,

I think mum2one has cleared this up already, but just to confirm, this should be fine. There's no problem with having two bank accounts providing they're with banks you don't owe money to (which you don't).

The switching service shouldn't be a problem either. I'd suggest checking to make sure they won't give you an overdraft or transfer the balance from your old account. If you're clear you don't want one they shouldn't put one on.

If you can spare the time, it would be really nice if you could come back and post on here about how you've got on with the switching service. We often suggest people use these switching services but rarely hear how useful people have found them.

Kind regards

James

StepChange_James

Chrisas wrote: »

Please help I need some advice I have 3 credit cards which I owe approx £12000 and a £11000 loan. I have never missed a payment but only pay min payments on credit cards. I have tried to apply for 0% balance transfer cards but have been declined! Should I try to get another loan to pay off these damn cards. What would be the best way of dealing with this debt. Hope someone can help !

Hello,

It's hard to say whether a consolidation loan would be a good idea for you. We generally advise against these as we speak to many people who take them out and find it makes their finances worse.

Before applying for more credit I would recommend that you look into planning a detailed income and expenditure budget to see where you stand. This is pretty boring stuff to do but it does really help you to understand where you are.

A good budget will tell you whether your debts really are affordable and tell you what you can afford to pay towards them every month.

I'd suggest using our online advice tool, Debt Remedy (http://www.stepchange.org/msehelp) which will guide you through putting together a budget. It will then also crunch the information you've put in and produce a customised advice booklet which will recommend the best way forward.

If you'd prefer to speak to a real person then you could give us a call (http://www.stepchange.org/Contactus.aspx) and we'll help you put together a budget over the phone and offer advice about what we think would suit your situation.

Hope this helps.

James

StepChange_James

morgymoo wrote: »

I had a flexi loan with cahoot I was paying by D/D this stopped (not by me) then about 6 months later Santander were asking for repayments I had no notification that they had taken over the loan apparently it was by e mail as it was an online account strange that as Santander do not now have my loan online. I requested a SAR which was incomplete complained about their handling of my account heard nothing since last May now suddenly after ignoring my complaints they have sent me a letter saying I have to pay the arrears or they will claim the full amount and today another letter saying I would have a default issued against me. They wont tell me the interest rate or what I am supposed to pay I did get a refund of interest as they had over charged me do I have to pay the arrears or have I got a case against them can anyone advise please. Really worried about this should I perhaps make an offer to pay part as a final settlement.

Hi Morgymoo,

Thanks for posting. This sounds like a strange one - the information you've requested seems straight forward and I can't think why they wouldn't give you the information you've requested.

If you want to pursue your complaint with them I'd recommend checking out this webpage that will talk you through the complaints process: http://www.financial-ombudsman.org.uk/consumer/complaints.htm.

Because you've already made a complaint and they've not responded within 8 weeks you could potentially go straight to referring your complaint to the ombudsman.

Offering a full and final settlement could be a good outcome for you if they're willing to negotiate and you've got a lump sum available to offer them. Just make sure any settlement agreement is made in writing before you send any cash.

Hope this helps.

James