Experiences of DMP with CCCS

CBI

After years half heartedly trying to resolve my ever increasing debt I finally went to the CCCS website and did a Debt Remedy report which came back suggesting a DMP.

I applied online on Monday and should receive the forms any day now. Just wondered what people's experiences were with this action.

How long after completing the forms was everything set up and you felt comfortable again?

Did the creditors accept reduced payments and froze the interest?

Has everything run smoothly since setting up the DMP or have creditors come back to try and screw you a second time?

Any help/advice appreciated.

Thanks in advance
CBI

sallyx

HI there
Good luck with whatever you decide. I went on a DMP with the CCCS back in July last year. For me it has been the best decision I ever made. Obviously my credit is shot to peices but it means that we actually are paying off the debts and being able to live without fear of letters through door, phone calls all day long.
The only thing that is difficult is that some creditors may take a while to come on board. Luckily most of our debt got passed on to a Debt collection agency and they accepted payments straight away. The only one we have had problems with is HSBC on our overdraft. Although they accepted payments they are still adding interest and at the moment our balance is increasing. Hoping they will pass it on to a DCA soon!
Our DMP went through quickly and within 4 weeks of getting paperwork it was all sorted and letters/phone calls stopped

chevalier

I would agree with Sallyx. Some creditors come on board real quick and stop interest straight away etc. Some creditors can be right pains (to be polite) and take ages to finally agree.

One suggestions that is often mentioned however is to set up a bank account to get wages/benefits paid into, and bills out of that isn't linked to anyone you owe money to. That way you determine with CCCS help what you will pay.
chev

hillbilly5

We found ourselves in a similar position last month. Contacted cccs and we were accepted for dmp. Ours starts 1st March and immediately we felt like a huge weight had been lifted off ours shoulders. Have had lots of reassurance from cccs when phoned them with questions too which was really encouraging. Already have had 2 creditors accept the plan and to freeze interest. Don't expect that it will all be as easy as that but at least we know that we are going in the right direction and will be debt free in 7 years.
Contacting cccs was the best decision ever!

jimbo26

I had a very positive experience with CCCS.

CBI

sallyx wrote: »

The only one we have had problems with is HSBC on our overdraft. Although they accepted payments they are still adding interest and at the moment our balance is increasing.

That's not good. Got a Natwest overdraft myself of £4950! Had an overdraft with them for 8 years so shudder to think how much interest they've already had off me.

Trying to get another bank account sorted with Co-Op but I can't apply online, can't apply using work's phone and their office is shut by the time I get home from work

nomoneynomoney

Hi CB
It was the best thing I ever did. After a little time everything will settle down and you can live your life again without the worry of all your debts. As time goes on you make decide to tackle your debts differently but at least you have some breathing space. Mine has been running smoothly for 5 years. Most creditors froze interest. Occassionally one will contact you with their usual threats but you will be in a stronger position to deal with things and the CCCS will help you.

TeetersOnHeels

Hi CBI
Thanks for posting - you took the words right out of my mouth! I've been robbing Peter to pay Paul for a while & know now it can't carry on. I've opened a new bank account with Yorkshire Bank, who don't have any links with Royal Bank Scotland (I don't think!). Am a bit worried about creditors phoning, but from what I've read on this board that should settle down...

rayday2

http://www.payplan.com/pdf/bank_acc.pdf

The above is a link which tells you what accounts are linked to who.

There is a topic about called the DMP Support Thread and in there are over 120 people now all on DMPs and a good percentage of those are with CCCS at various stages.

cunningfox_2

Was with CCCS and come out the other side!

Brilliant in every way.

Takes a long time, but I learnt that you can't get rich quick however you can get better off slowly!

They ask you keep them informed of any changes (and when we had little one the lady I spoke to told me the figure I suggested I needed as extra to provide for her - I was told to be serious and the figure I gave was doubled!!!)

They also ask you not to get anymore credit - however if you are in this situation, the credit score will be rubbish anyway!

Good luck with it after a while you will be annoyed you struggled for months longer than you should of!

moneydesperate_x

I started my DMP with CCCS this month.
CCCS are really lovely, they are so helpful and explain things right from the start.
I have had a few creditors saying they dont except my DMP, GE Captial being one of them, but I am hoping it will be sent to a Debt collection agency as i am told they are better to deal with.
Best thing is I am not taking money from one credit card to pay another, I can sleep better and am not so moody!
Best thing I have ever done, well apart from finding this website!
Even after a very short time on my DMP i know its the best thing to do.
Good luck and Best Wishes