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Frequently asked questions about your CAP plan

After reading about your Debt Management Plan and the options available, you might have a few questions or need a bit more information. Hopefully the answers on this page will help fill in the gaps. If you are still unsure about anything to do with your CAP Plan, just get in touch - remember, everyone at CAP is here to help you on your journey out of debt. 

Paying in

What happens if I can’t make my monthly CAP Plan payment?

It’s really important that you make every effort to make your payment. This is so we can pay your creditors the monthly amount we have agreed. If we can’t pay out, they may contact you and ask for payment or start enforcement proceedings.

We understand that sometimes unexpected things crop up or changes need to be made to your budget. If you’re struggling to pay into your CAP Plan, please give us a call so we can talk it through with you.

How do I make a change to my CAP Payment?

During your time with CAP, there's probably going to be some changes to your budget as your bills or income change. This might affect the amount you need to pay into your CAP Plan. To change your standing order, you can either use online banking if you have access to that or take our standing order form (this will come with your new budget) into your bank.

Can I change the date I pay into my CAP Plan?

Absolutely! Please call us before you do though as we may need to let your creditors know when they can expect their payments.

Savings in the CAP Plan

How do I find out the balance of my savings?

Your monthly statement will show you the amount in your savings or just give us a call.

How do I withdraw my savings?

The easiest way to withdraw some of your savings is by giving us a call. We may ask you to confirm the sort code or account number, so it’d be good for you to have that handy.

If you want to withdraw under £150 and you don’t have time to call, you can always send us a text and we can set up the withdrawal for you.

Please note savings withdrawals can take 3-5 working days to appear in your account.

Creditor questions

What should I do if one of my creditors contacts me?

It’s quite normal for creditors to still contact you while you’re working with CAP. If you do get a letter or an email, just send it to us and we will deal with it for you.

Will CAP be able to get interest and charges stopped on my debts?

When we contact your creditors, we ask them if they’ll stop adding any interest and charges onto your accounts. A lot of the time they do agree to do this but it’s not something we can guarantee. You can find out if your creditors are still adding interest on your CAP monthly statement.

Can I take out more credit whilst working with CAP?

We’re here to support you to get out of debt. One of the terms of our service is that you don’t take on more credit while you’re working with us. If you do, we may have to close your CAP Plan.

Working with CAP

Will working with CAP affect my credit rating?

Working with CAP is likely to negatively affect your credit rating. This is because our focus is to get you debt free in a way that is suitable and manageable for you. If the amount that you can pay back is less than the contractual amount the creditors want, the account may fall into arrears. Sometimes this means your creditor issues default notices, which affects your credit rating.

What should I do if my income or living costs change?

If your income changes or one of your household bills goes up or down, please let us know. We want to keep your budget up to date so that you can live within it, helping you to get debt free as quickly as possible.

My CAP Plan has been closed, what can I do?

If you don’t pay into your CAP Plan or if you don't send in the information that we need, we will eventually have to close your plan. There are so many people that need our help so we generally don’t reopen plans once they’ve been closed. There are some other free Debt Advice organisations listed on our self-help page that you may want to contact.