posted by on Aug 19
elangarreg asked: If I was to keep the current account open and deposit random sums at no paticular point of time,understand the bank will take the money as payment for the loan along with what they will receive from the share from CCS
August 21st, 2008 at 7:43 pm
I dont quite understand your question.
But I think that if you are saying can ccs take money out of your account whenever they want to I would say yes they probably can, depending on what you have signed.
If you open a seperate account, you can keep your household bills seperate from the CCS money.
August 24th, 2008 at 3:11 am
If you have a loan with your bank & are going for a debt management programme then the bank you are with will take any money you pay into your account for the loan as well as paying the debt management program, this will cause problems amongst your creditors as one of them i:e the bank, will not be following the program that has been set up by CCS. That is why you are advised to find another bank or building society that can handle direct debits etc.to your creditors in this case via CCS.I had to do this myself & was upset at first as i had been with my bank for 8yrs.
August 27th, 2008 at 12:07 pm
Yes its correct
Any debt management company would advise you to do the same
for example you may have a barclaycard and you are offering them a token payment of say £1 per month paid through your CCCS repayment plan. You also happen to have an account at barclays and you pay some money into it….barclays would take it and pay barclaycard
Its a standard protection but a must for any one in financial difficulties