Expert Advice Required!!

leemuddywaters

Hi

I am really looking some advice from your past experiences on how to deal with this situation. I have recently returned from New Zealand and have come back to a few things being out of control. I had a loan with egg off around £4000 which is now with NCO Europe collection agency, also a capital one credit card which I defaulted on of around £300 which is now with debitas. I had an agreement set up a few months ago on which I was paying around £50 in total a month to both, over the last few months ive had to stop payment due to moving house and other commitments. Would it be more beneficial to just set up an agreement with these two or maybe some other option. What about payplan? Im just trying to look at the quickest option to get this sorted. Would appreciate your advice!!!

rayday2

I think with you having set up plans and then missed payments you could probably do with either CCCS or Payplan behind you so that the companies are willing to accept another payment plan. No harm in speaking to either see what they say.

Jacks_xxx

:wave: Hiya hon,

I can recommend CCCS - and Payplan are well thought of on here as well. (and what about seing someone at the CAB if you'd prefer a face to face approach)

I agree with Rayday that it will all fall into place much more easily with a bit of clout behind you - especially now you're now dealing with debt collection agencies who are not exactly fun to chat to.

I hope it works out quickly for you - with minimum stress!

Take care,

Love Jacks xxx

Lucy1982_2

very good advice from both posters, if nothing else talking to them can't do any harm can it.

Good Luck

leemuddywaters

Thanks, what would my repayments be like? Are they pretty flexible on this. Also do they accept most cases? Would this have a positive effect on my credit rating using Payplan or CCCS?

Thanks

rayday2

It will not change your credit rating really DMP effect your credit history when you get the default notices and they stay on your file 6 years after issued. I think both companies do 6 montly reviews so make sure your budget is "stickable" when you enter into it. I think you can go the CCCS website and do debt remedy or something and that may give you an idea as to payments - not sure as I never dealt with either but others swear by them!

leemuddywaters

Ok! Sorry to be a pain, one more thing you may know. How would having those two effect getting a mortgage?

rayday2

Well I have been on a DMP for a year and we are just remortgaging they told me the kindest of debt remedies was DMP, IVA and bankrupcy are the worst and very closely linked to each other.

I am near prime - meaning in two years if my credit history stays the same or does not get worse I can shop on the highstreet for a mortgage.

You will always be able to get a mortgage trouble is at what interst rate - if this is of interest to you in the future I strongly recommend starting an ISA saving account now for a healthy deposit as this will give you a slightly better interest rate if you borrow a lower per centage of the house price if you get me!