CCCS - adding new debts

susimuggle

malestrom07 wrote: »

Susi - I'm afraid it's almost inevitable that your plan with CCCS will be closed, I have a copy of the contract and it definately states that no further credit can or should be obtained. However, one question needs answering! How did you obtain credit whilst on a DMP. What credit checks were undertaken? I'm suprised that your credit file was not at least "ruined" by your need for a DMP with CCCS. I do hope your credit file alone prevents a re occurrence. There is just one problem, if you do not tell CCCS then they will not know, however if any of the creditors included in the DMP look at your credi file and see say, 9 instead of 5 debts then they will see that you have more debt than declared on the DMP. They will also look at the payment frequency and amounts. If the debts outside the plan are being paid in full they will have 2 questions:

1. where is the money coming from to finance these debts?
2. why should they accept pro rata reduced payments when others possibly are not?

The further problem is that existing DMP included creditors could throw the towel in and accelerate collections action. CCCS will still be available for advice, but may not be able to justify further DMP assistance. However, the advice about seeing your GP is very good advice, it will help in the long term.

Thanks for this post. It is very useful and you're absolutely right. For now I have decided not to tell the CCCS about my other debts. If they (or one of the creditors will find out about them I will deal with it when it happens).

To answer your question, I'm not really sure how I manged to get another 4 credit cards. Started with Capital One, they give people credit who might not get credit elsewhere, and from there I got another 3 cards. Did that thing where you transfer the balance. Only problem was that I did that and then filled up the old cards.

Will definitely go and see my GP. Don't know if you saw my post about Money Matters, they're like the CAB, and a non-profit making organisation and initially they just give advice. Will also get a second job for a while, so have a few things to do.

Have definitely "woken up".

Thanks again!!!

Sue-UU

Hi susi,

You sound almost like a different person, as though you've now become aware and are doing all you know you should be doing - and not doing things you shouldn't....more responsible and good for you. In time you'll find you get so influenced by the people on this board as well as do good by helping those you're able to. Meanwhile your finances will creep along getting better and better and you'll know that worrying about them will not get you anywhere, but that thinking twice before acting is all you need.

I wish you well, me too! You see, you're never alone!:)

Sue

malestrom07

You are so frank and pragmatic, that's good! It, "debt" can be dealt with, considered advice is always productive. Stay in touch with everyone that can help you and seek support when it feels appropriate. Private message those that are considerate and rest assured that the helplines that are available are there to help you and not judge you. I recently had the worst health scare imaginable and it has changed my life completely. Debt I could deal with, it's all relative. I saw three GP's in the same practice before one finally realised I was sick. Put your debt in a little box in the corner of the room and deal with it at a set time each day or week. When you are strong! Change your phone number and only give it to friends and family. And remember that there are so many other things that need your time and attention.

The only thing getting me through my treatment is that the waiting room is full of people that need me (cos I know how to handle debt) much more than I need anything from them,except support. I never knew how much I was worth till the big "C" came into my life! No one in my real life knows about it. But in my virtual life, big "C" makes me feel that we all need some help now and again.

Is there anyone making a "bonus" at the banks, losing sleep over your debt tonight, I don't think so. Sleep tight x

Candy0107

Hi,
Can you change your compulsive need to spend into a compulsive need to save? Or, if you do need to buy something, have a change jar, and say that when it is filled up, you will treat yourself to........

susimuggle

I've been doing really well over the last few weeks, have managed to split my remaining money into weeks and have kept to the budget. Cut up all my credit cards (apart from one which I gave to a friend for safe-keeping), and have also removed them from all my favourite shopping website.

Took a good look at my current credit cards and have noticed that on one of them (approx. £1.420 outstanding), by only making the minimum payments, I'm actually only reducing the main amount by about £2 a month. I am shocked.

Still waiting for an appointment with the advice centre and wondering if I should risk telling the CCCS that I broke my terms and conditions.

Will keep you updated.

Thanks. :-)

RAS

Susi

What is the APR on your CCs? if it is high you will struggle to get the debt dwon on minimum payments.

chappers

Have you thought of explaining your predicament, with regards to creditors inside your DMP and those outside, to one of the other debt management charities and see what they think the likely outcome would be if you came clean also at the same time ask them if they would take you on if CCCS couldn't help.Have you tried negotiating with your new creditors about reducing payments and thereby setting up your own DMP with them.

Sue-UU

susimuggle wrote: »

Took a good look at my current credit cards and have noticed that on one of them (approx. £1.420 outstanding), by only making the minimum payments, I'm actually only reducing the main amount by about £2 a month. I am shocked.

Hi susi, good to hear more from you. Glad you've cut up all your credit cards bar one which (thankfully) is out of your temptation.

Is there no way you can get to pay more than the minimum on the £1.420 card? It's ridiculous that you're 'wasting' that much per month when you're desperately trying to get it off asap.

Keep strong and keep fighting susi and do please let us know, bit by bit.

All the very best.

Sue