cccs debt Remedy

rayday2

Its a lot easier than people think to do, so easy I have done my own from the beginning and all of my accounts have frozen interest.

A DMP is the kindiest of all the debt solution alternatives you can do to your credit file IVA or bankrupcy is much worse, like you said its already ruined now sort it out in your favour and get rid of them gradually!

P_W_2

Hi i was not expecting this response thanks

newlywed

I had all my creditors accept (although one refused initially). Only one is charging me interest and that is less than a third of the % it was (writing to get that stopped hopefully).

Some of the creditors were really nice about it.

So now my interest payments are about £40 a month instead of about £600+ a month so my debt is going down.

Initially the debt goes up while they charge interest and late payment fees and you are paying less, but then it falls steadily

spendthrift66

I have tried to ask some of them to freeze interest and they have been most unforthcoming. So I figure get CCCS involved and quite frankly pay them as little as possible. I don't want another credit card in my life so the credit file doesn't really matter - it's just the mortgage which we won't be able to change - but hey ho?

spendthrift66

Hi PW - would you be willing to keep posting on here and let us (me!) know how it goes? I am nervous of actually doing it so would love to hear of good (or bad?) outcomes to keep me going.

newlywed

It really is the best thing I ever did about my debts. I tried cutting down to pay all the minimums but just couldn't sort it myself.

I only wish I'd done it earlier - months/years earlier!!!

newlywed

Spendthrift - it took me about 10 months to get the courage to contact CCCS. I chose them as you can fill forms in online instead of over the phone with Payplan (although you can do it over the phone with CCCS too).

I felt sick, embarrassed - all of it. Only by asking questions and finding out what happens from the guys on here did I get enough courage to sort it.

rayday2

spendthrift66 wrote: »

I have tried to ask some of them to freeze interest and they have been most unforthcoming. So I figure get CCCS involved and quite frankly pay them as little as possible. I don't want another credit card in my life so the credit file doesn't really matter - it's just the mortgage which we won't be able to change - but hey ho?

On the plus side of that whenever you do change a mortgage you have the temptation to add a little on - so in theory your mortgage could go down

We are currently re-mortgaging but we are with a sub prime lender, apparently we are near prime so in two years time we could shop around on the high street for a mortgage so its not all bad we just have to be a little patient I guess.

spendthrift66

Hi Newlywed, thanks for the reply. Were you hugely in debt? No matter how much we cut down - it is impossible to service it all. We are deffo going to do it - like I said, we thought about it in January - but I think we thought we couldn't face never getting credit again. So ... 8 months later we've got even MORE debt and in no better position. I am getting all the figures together and will do it this weekend. How long from first visit to website to first payment into DMP approx? Thanks again!

spendthrift66

rayday2 wrote: »

On the plus side of that whenever you do change a mortgage you have the temptation to add a little on - so in theory your mortgage could go down

True! And if we can reduce our monthly debt outgoings we can probably stand a few percentage points raise in mortgage (GULP!!!)