DMP & Mutual Support Thread - Part 8

Hopelessly_Hopeful · 10 April 2012 at 6:46AM

Time_to_face_the_music wrote: »

Thanks very much Jvic28

I know exactly where you are coming from with the regaining control and not being scared any more, it's a great feeling. My OH actually looks forward to opening letters from the banks now, and I'll let you into a little secret ... he makes very rude gestures when he walks or drives past NatWest or Lloyds TSB :rotfl:

We won't lose sleep whether they freeze the interest or not, we have already had far too many sleepless nights worrying about money, and hopefully those days are over. They do both still send us statements at the moment so we will keep a careful eye open that this continues.

We did want to ask one question if you or anyone else can help. We are likely to have an extra £1000 to 1500 in the summer from OH's exam marking. Are we allowed to pay this all off a debt that is still charging interest, e.g. it would make a huge impact on the NatWest OD? Or do we have to give it all to CCCS to share among all the debts?

Thanks again :T

The offcial answer is to divide it pro rata but I would stick against the overdraft.

Good luck

HHx

Hopelessly_Hopeful · 10 April 2012 at 6:48AM

Morning all

Two years ago today since I applied for my DMP. Am hoping to finish a little early so could be considered half way through now (ever the optimist). Such a good feeling to have a significant amount of the way behind me. Not there yet by any means, still have a number charging interest and I don't think that will get better but a lot better than the alternative. One way or another 2014 will spell freedom for me.

Have a good day all

HHx

2spicy · 10 April 2012 at 9:29AM

Time_to_face_the_music wrote: »

We are likely to have an extra £1000 to 1500 in the summer from OH's exam marking. Are we allowed to pay this all off a debt that is still charging interest, e.g. it would make a huge impact on the NatWest OD? Or do we have to give it all to CCCS to share among all the debts?

Thanks again :T

As has already been said, CCC's will say divide it between all your creditors pro-rata .. PAYPLAN advised me that I could choose "if" I came into some cash, what CReditor recieves it to no detriment to my DMP as long as "the total amount being paid in the DMP remains the same and is not reduced!!

I would stick it off the OD to be honest, and then as soon as its been credited to the OD account, either reduce the OD to zero, or close the account.

Disduprop · 10 April 2012 at 12:59PM

I would like to say a huge big thank you to Hopelessly Hopeful, Jvic28 and Growurown who all answered my post. You have helped put my mind (slightly) to rest.
I hadn't been told that I needed wage slips/statements etc for review but had assumed I would. Thats one less thing to worry about.
I contacted Blair, Oliver and Scott who confirmed that regular payments had been received and that they want statement of affairs. They have agreed to put any action on hold for 30days to allow CCCS to make contact. This is clearly despite fact they have had this for almost one year now. What I find strange is that BofS payment is sent to a company called Albion Collections. I'm now beginning to think these companies are all one and the same and that they are simply transfering debt between each other in order to add additional costs.?? Or maybe I'm just paranoid !
Growurown the letter of "Notice of intended court action" which you received is exactly the same as the one sent to me.
Thanks again for your help. It really is greatly appreciated.

Growurown · 10 April 2012 at 3:30PM

Hopelessly_Hopeful wrote: »

Two years ago today since I applied for my DMP. One way or another 2014 will spell freedom for me.

Well done HH. :T Not too long to go now then, it is a bit like being held to ransom!

Disduprop wrote: »

I would like to say a huge big thank you to Hopelessly Hopeful, Jvic28 and Growurown who all answered my post. You have helped put my mind (slightly) to rest.

I'm now beginning to think these companies are all one and the same and that they are simply transfering debt between each other in order to add additional costs.??

Two of my debts have gone to BOS and neither time did they take it any further when I explained about the DMP. Did have a bit of a row with them though. They kept insisting I had to get CCCS to fax them my details. I said that CCCS had told me that they don't fax that sort of information, it gets sent in the post. They can be pretty devious these creditors so it wouldn't surprise me if there was a nice little sideline going on. I try to check my balance monthly with each of my creditors so I can see what they are up too although this can be difficult because not all of them send out regular statements. Some I used to check online but since the DMP they have stopped my internet access which is a right royal pain too.:mad:

Time_to_face_the_music · 11 April 2012 at 9:51AM

Jvic28 wrote: »

TBH I'm not sure as I've not yet been lucky enough to be in that position. I suspect it would have to be shared out to all your creditors pro rata. Im sure someone will be along shortly who knows for sure.

gizmo111 wrote: »

CCCS will want to share it equally. I would pop it into savings to build up a little fund that you could use for F&F in the future if you can add to it - or have small debts it could clear, or keep as an emergency fund. On the scale of your debts its no going to make a great reduction being shared but it could help you to reduce the debt greatly in the future. How much is the NW overdraft?

Hopelessly_Hopeful wrote: »

The offcial answer is to divide it pro rata but I would stick against the overdraft.

Good luck

HHx

2spicy wrote: »

As has already been said, CCC's will say divide it between all your creditors pro-rata .. PAYPLAN advised me that I could choose "if" I came into some cash, what CReditor recieves it to no detriment to my DMP as long as "the total amount being paid in the DMP remains the same and is not reduced!!

I would stick it off the OD to be honest, and then as soon as its been credited to the OD account, either reduce the OD to zero, or close the account.

Thanks very much everyone :T

We have one small CC debt of just over £1000 which we could finish off with this money but the creditor has frozen interest on this one. The NatWest OD is currently at £4500 and is being paid by CCCS at £150 per month but NatWest are then adding on £65 per month interest. We thought that the extra money would make a huge difference to this debt and lower the interest, making the CCCS payment much more effective at hitting the debt. We have already paid a bit of our money towards this OD to bring it within the limit to stop the daily over limit charges and we didn't discuss this with CCCS because we were worried they would tell us we couldn't do it. If we hadn't done it, the CCCS payment would have actually been less than the charges for that month and would have still left us over the OD limit, Catch 22

We really value the help we are getting from CCCS but with such massive debts and a huge monthly payment to CCCS, we really want to make sure that every penny is effective towards our DFD. It's a tough one :undecided

Time_to_face_the_music · 11 April 2012 at 10:24AM

Hopelessly_Hopeful wrote: »

Morning all

Two years ago today since I applied for my DMP. Am hoping to finish a little early so could be considered half way through now (ever the optimist). Such a good feeling to have a significant amount of the way behind me. Not there yet by any means, still have a number charging interest and I don't think that will get better but a lot better than the alternative. One way or another 2014 will spell freedom for me.

Have a good day all

HHx

Well done HH. That light at the end of the tunnel must be getting brighter every month now. :T

We keep telling ourselves that 2016 isn't a long way off

ailz95 · 11 April 2012 at 10:29AM

Hi all,

Not been on very much recently as my father who is 83 has been in and out of hospital. I have fibromyalgia and when I start worrying over things I just end up sleeping a lot - quite useful really - except for the dreams

:mad:. Our dmp is ticking over nicely. It should be review month but as we doubled our payment in January - hubby was 60 in 2011 so in November 2011 we were given our Income Support almost doubled as when you're over 60 you need more money to live on. Can't think why. Payplan have decided that they will move our review to January each year - wonder if any creditors will complain that they aren't getting their annual rise!

We had thought we'd get £200 winter fuel allowance but unless your birthday is before 5th January you don't get it that year - so really 95% of people are 61 when they get it not 60 - more Government fudging.

When we went shopping this week loads of things had gone up in price - nothing to do with benefits/pensions/tax codes having gone up this week of course

.

Time_to_face_the_music · 11 April 2012 at 10:32AM

Disduprop wrote: »

What I find strange is that BofS payment is sent to a company called Albion Collections. I'm now beginning to think these companies are all one and the same and that they are simply transfering debt between each other in order to add additional costs.?? Or maybe I'm just paranoid !

I found a post from fermi which states

"Albion are "in house" collectors, so they are just pretending to have passed it on."

Sorry I can't link to it or quote because it's on a closed thread but it does seem to confirm your suspicions :mad:

Jvic28 · 11 April 2012 at 7:39PM

Disduprop wrote: »

I contacted Blair, Oliver and Scott who confirmed that regular payments had been received and that they want statement of affairs. They have agreed to put any action on hold for 30days to allow CCCS to make contact. This is clearly despite fact they have had this for almost one year now. What I find strange is that BofS payment is sent to a company called Albion Collections. I'm now beginning to think these companies are all one and the same and that they are simply transfering debt between each other in order to add additional costs.?? Or maybe I'm just paranoid !

I have had letters off Albion regarding my Aqua credit card and although CCCS statements now show Albion, I still get statements from Aqua with my payments showing. I think you're absolutely right, they're all just departments in the same company I reckon. They just think if they use a name like "collections" or some that sounds like a solicitors (blaire, oliver, scott) you'll be scared into paying. It really doesn't bother me anymore who my debt gets passed to, they ain't getting more money off me if I haven't got it. lol. All the best x

DMP & Mutual Support Thread - Part 8

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