Full & Final / CCCS Advice

Lizzy69_2

Hi all

Would like a little bit of advice please if possible?

Basically we have been on a DMP with CCCS now for nearly 6 years. A debt has recently been bought by Thames Credit and they are of course chasing as they all do.

Copies of the letters have been sent to CCCS who I assume ensure the payment funds are transferred to them. However, Thames Credit are not acknowledging whether they have had contact from CCCS or not.

Anyway, the latest letter says that we must pay a minimum of £30 per month or provide them with our telephone number (I think not!) to set up an agreement, OR they will accept a payment at a greatly reduced rate. The current balance being £800.

Now a family member has agreed to loan us some money (not to be paid back until the other 2 debts have been paid) to pay off this debt, and this debt only. They can only however loan us approx £200.

Do you think CCCS would allow us to do this?, thus enabling the monthly installment being paid to Thames Credit can then go to the other 2 creditors.

Can anyone help?

Lizzy69_2

Can anyone advise?

maddysaver

Hi There
First thing to remember is your agreement with the CCCS is informal and not legally binding for any party.
However, they are excellent and give good advice and I rate them highly.
That said, it's your money and your life and you need to do what is best for you.

If you come to an agreement with this creditor and pay it off, you can let the CCCS know that this creditor no longer needs to be paid as the balance is zero ( believe you can update the relevant figures on your account online and don't need to talk to them directly - however in my experience, when you do that you will actually need to talk to them about ensuring they re-distribute the excess to other creditors).


I honestly don't know what CCCS's official line would be but there are CCCS employees who post on her who may be able to tell you what they are likely to advise.
But do remember it's your choice in the end and there's certainly nothing 'illegal' in what you want to do.

I hope that helps a bit.
My final bit of advice is get actual figures in writing from Thames and ensure they will mark your credit file as 'satisfied' against the debt.

Edit: just thought of one other thing... if you're considering this course of action because you feel Thames will get 'difficult' and are no acknowledging your offers then I wouldn't do it solely for this reason as they can't make you pay more per month than you can afford and eventually WILL have to listen to sense from the CCCS, although it's not easy at the moment.

Lizzy69_2

Thanks maddysaver!

We don't want to jeopardize the DMP with the other 2 creditors, so I think we will call CCCS in the morning.

If we do contact Thames though, everything will be in writing and not by telephone.

Do you think that we can still use the Full & Final settlement letter eventhough we don't have any more excess cash at the moment to offer the other 2 creditors?