Hi,
I would really appreciate the advice of all people in debt who have undertaken a CCCS plan or a similar option.
My situation is as follows;
I owe 20k - 10k x 2 credit cards
I have recently returned from travel/work abroad and as a result I have moved back in with parents and am looking for work. I forsee full time employment and a flat being in the next month or two. I have the option of some weekend/evening work for 'pocket money'.
I am desperate to pay this debt of quickly...I have discussed it with an IFA freind and he seems to concur that entering into a CCCS agreement is a good option.
I am also considering 0% CC's, but the CCCS option seems more beneficial as it can reduce the total debt - is this correct?
I may have the option of a small loan from parents of say 5k, which I may be able to withhold repayment for for say 12 months.
I am thinking of the following option; a mixed CCCS repayment plan....AFTER I have had the 5k loan. Alongside the repayment plan I'd like to open a saving account aswell. Would CCCS insist all my income goes on the debt? I wish to pay this off as qucikly as possible, while renting a property, but without loosing EVERYTHING in life - I accept I have to cut alot out in terms of expenditure and am preapred to do so but cant live like a hermit for 18mths - 3 years.
Its very stressful - as you all know - so I'd genuinely appreciate your advice.