DMP & Mutual Support Thread - Part 8

stupid-fool · 5 December 2012 at 1:29AM

debtdawg wrote: »

Hi all

First payment went out to step change this month and everything seems to have gone quiet. Lloyds are the only ones who wont stop interest and who have accepted the reduced payments towards my loan for 6 months but expect full payments to resume at the end blahdy blah. Funny how some creditors have been lovely and Lloyds are tools! They knew I didn't have an income when I took out the loan (we had to move house but had no first month or deposit available so had to take out a loan to cover it ) but were happy to lend it to me.

Looking forward to Christmas but also looking forward to January and getting 'proper straight'.

Hi debtdawg

We've also just made our first payment. Doesn't it feel good :j

Lloyds are also one of the few who haven't stopped charges for us - they have frozen them on the OD and CCs (I think as everything is a little confused at the moment) but the loans are still having interest applied - I plan to write letters of complain in the next week or so, following that its FOS. Everything with Lloyds has been agreed on a 6 month basis.

Sadly we also have Creation who haven't stopped interest or charges so again we'll writing after the next bill arrives.

Finshopefulmum · 5 December 2012 at 12:13PM

Hi everyone

It's great reading how everyone is preparing for Christmas. I have to admit that it has felt so good this year not putting everything onto credit. When I think about where we were this time last year, it makes me shudder!!

I wonder if I could pick your brains please.....we've been ticking along on our DMP since May, had to reduce payments in August due to DHs work situ changing, but all seemed to have gone smoothly. However Nationwide have now written to say they don't accept the lower payment and that they are going to push for a CCJ, and that if the court don't increase the payments they will go for a charging order and secure the debt against the property.

StepChange have told me to ignore the letters, but to get in touch if we receive court papers. I expected the defaults, and I know a CCJ doesn't really make much difference in the whole scheme of things, but wondered why I feel bothered by it. Did any of your creditors go for CCJs or did they stop at defaults?

Thanks xx

houseiseverything · 5 December 2012 at 2:04PM

Yes, Barclays are going for a charging order against our house. They are also blackmailing us by saying that if we give them a voluntary charging order interest will be 3%, however if they take us to court interest will be 8% plus they will add costs etc. I have to say we are going out of our minds with worry about this- we have posted on here for advice but I don't think many people have experienced this issue. We are going to take legal advice today, which we can ill afford! Although I know that they are trying to bully us into giving them a voluntary charging order, and trying to scare us, I am tempted to do it at the moment as I don't want any chance of them forcing a sale. I wouldn't just ignore the letter though- we were advised by National Debtline to keep talking to them.

Finshopefulmum · 5 December 2012 at 2:47PM

I think that StepChange said to ignore the current letter and wait to see if they do go for a CCJ first, as that's the first step before they can go for the charging order. I kind of feel that we just have to follow the process as there is absolutely nothing else we can do as we don't have any more money. The charging order doesn't really mean anything other than if we sell our house we would have to settle their debt doesn't it? I think I'd also read that possibly the court wouldn't agree to the charging order as we're on a DMP and making whatever repayments we can.

houseiseverything · 5 December 2012 at 3:51PM

There is really good advice on the National Debtline website- it is very clear about charging orders, have a look it might put your mind at rest. It seems that if the house is in joint names, you have children etc then the chances are it would just sit there until the house is sold, yes.

Our case is slightly more complicated because the house and the debts are in my partners sole name! Barclays will not accept the DMP at all without us providing a voluntary charging order.That's why I almost want to give it to them , because if it will just sit there then it wont make much difference. When it would make a difference would be if something awful happened an we had to reduce our payments to them, or couldn't pay at all for some reason- in that case I think they could make us sell if they wanted to. I just don't know what to do about it- fight them or give in.

lizzy23 · 5 December 2012 at 4:07PM

houseiseverything wrote: »

There is really good advice on the National Debtline website- it is very clear about charging orders, have a look it might put your mind at rest. It seems that if the house is in joint names, you have children etc then the chances are it would just sit there until the house is sold, yes.

Our case is slightly more complicated because the house and the debts are in my partners sole name! Barclays will not accept the DMP at all without us providing a voluntary charging order.That's why I almost want to give it to them , because if it will just sit there then it wont make much difference. When it would make a difference would be if something awful happened an we had to reduce our payments to them, or couldn't pay at all for some reason- in that case I think they could make us sell if they wanted to. I just don't know what to do about it- fight them or give in.

if its any consolation i would fight, it won't make the situation any worse

Finshopefulmum · 5 December 2012 at 4:48PM

houseiseverything, thanks for the tip I'll definitely read it.. I'm sorry I can't help with your situation. Is there no other free organisation you can talk to? Or maybe appeal for info on the main board to see if anyone else has been in the same situation? It seems such a hardball tactic from Barclays. Who is arranging your dmp? I'll have a search through old posts to see if I can find anything. X

MrDJB192 · 5 December 2012 at 4:57PM

Hi all,

First time poster!!

I've use this site a few times for various things but never registered. After many years of suffering with debt which gradually grew to £26,000, over the last few days, many heart to hearts with my partner (who didn't know the full amount of debt) and a number of phonecalls to various companies / charities its been agreed that the best way forward for me is a 4-5 year DMP.

Quite honestly, even though the process is at the very beginning, I already feel like I may get some proper sleep tonight for the first time in months. My appetite has returned and I feel like there may be light at the tunnel.

I'm well aware that i may continue to receive phone calls and letters demanding money, but I'm prepared for the worst - after all, how much worse can it be than borrowing from quickquid to make sure a halifax credit card is paid.....

The payday loan was the final straw....

I guess i'm just writing here to say that for the next few years, I'll be hanging around here like a bad smell seeking guidance if necessary and also, maybe one day, supporting others who aregoing through what i'm suffering at the moment.

So.....hello everyone!!!

I hope i'm posting in the right place

:j

Finshopefulmum · 5 December 2012 at 5:13PM

Houseiseverything I can see you've already tried everything I suggested. Would you consider letting StepChange administer your dmp? I wonder if the bullying from Barclays is because your partner is doing it himself?

Time_to_face_the_music · 5 December 2012 at 5:45PM

MrDJB192 wrote: »

Hi all,

First time poster!!

I've use this site a few times for various things but never registered. After many years of suffering with debt which gradually grew to £26,000, over the last few days, many heart to hearts with my partner (who didn't know the full amount of debt) and a number of phonecalls to various companies / charities its been agreed that the best way forward for me is a 4-5 year DMP.

Quite honestly, even though the process is at the very beginning, I already feel like I may get some proper sleep tonight for the first time in months. My appetite has returned and I feel like there may be light at the tunnel.

I'm well aware that i may continue to receive phone calls and letters demanding money, but I'm prepared for the worst - after all, how much worse can it be than borrowing from quickquid to make sure a halifax credit card is paid.....

The payday loan was the final straw....

I guess i'm just writing here to say that for the next few years, I'll be hanging around here like a bad smell seeking guidance if necessary and also, maybe one day, supporting others who aregoing through what i'm suffering at the moment.

So.....hello everyone!!!

I hope i'm posting in the right place :j

Hi Mr DJB and welcome :hello:

You sound like you have had a true lightbulb moment and are well on the way to getting things sorted out. Well done on taking the first and most difficult steps :T

I found this thread to be a real life saver when we first started out and still come back here all the time for the superb experience, help and support offered. :A

Stick around

DMP & Mutual Support Thread - Part 8

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