Payplan & CCCS

leemuddywaters

Hi!

Would you all be so kind to be put a step by step guide on exactly how payplan and cccs work? Im new to the both of these so if you can make it as idiot proof as possible! Even if you could put your own experiences of using these.

Thankyou!

pinkkat8910

Hi Lee,

Payplan & CCCS will run through your Statement of Affairs on the phone, your incomings and outgoings and establish what you have left over as surplus, this in turn will be offered on a pro-rata basis to your creditors (ie. a percentage based on the amount owing to each creditor).

This process can be quite long winded, it can take upto 3 months in some cases (if not longer!) for creditors to agree new reduced payments and the possibility of freezing interest (do remember they are not obliged to!). So within these first few months you will still get correspondence from your creditors but then it'll die down and they'll start to deal direct with your DMP'er

Hope this helps a bit .... if you've any questions shout up, we've a few Debt Management Plan experts on here (myself included haha)

tealady

Hi. Basically they do the same job, ie help you with your debts. However when you contact them you must be 100% honest about your debts so that they can give you the best advice. The free services are good, they know what they are talking about and don't worry they are not there to judge, just to advise. I suggest is that you look at their websites 1st before you contact them.
Good luck

leemuddywaters

Thanks!

So is this a completely free service? In your own experiences would it be the best solution? I have around £3000 with NCO Europe which I need to set up a payment plan with and also around £350 which was a capital one card now with Debitas.

pinkkat8910

yes they are both free services

please note though, if you're entering into a DMP you must include ALL creditors, you can't pick a select few as its seen as unfair on others (ie. some will receive regular payments and some a reduced amount).

Have you tried speaking direct to there two companies and arranging a reduced payment level yourself without going through a third party ... would be easier if you only want to deal with these two?

SortingIt_2

Hi there,

I had my first telephone call back from Payplan last night and it was fine. They were fantastic and really just went through everything with regards to my income and expenditure and explained how they work.

I now have a phone call to come from the person who will be my caseworker as such next week and they will go through options etc then. So far it has been good, quick and efficient.

Good luck

pinkkat8910

Hey well done sortingit - glad it went well

WorriedMart

Well Done

Mine is with CCCS and seems to be pro rata of the montly payment amount, not the outstanding balance

CLAPTON

leemuddywaters wrote: »

Thanks!

So is this a completely free service? In your own experiences would it be the best solution? I have around £3000 with NCO Europe which I need to set up a payment plan with and also around £350 which was a capital one card now with Debitas.

You need to post up an SOA giving your income, details of spending and the full debt details, plus your general situation (mortage/rent etc ) before we can advice the best course of action