DMP & Mutual Support Thread - Part 8

Grand_Benders · 16 July 2012 at 1:21PM

willeynotwiley wrote: »

Hi Guys
Been reading your posts for a little while and took the plunge to start a DMP. I found a great letter template on here a couple of weeks ago and now can't find it! It was a template to send to creditors which as I remember was much better tham the template CCCs have sent.
Please help

And thansk for your positive stories

Might have been mine?

Dear Sir/Madam

I am currently experiencing financial difficulties and have received advice from Consumer Credit Counselling Service (CCCS) to help solve my debt problem. They have recommended that myself and my partner enter into a Debt Management Plan (DMP) with them, and we have now sent them our agreement together with full details of all creditors, debts owed and our monthly household income and expenditure.

I find myself unable to meet the minimum payments on my account with you this month, and so have enclosed a cheque for £5 which is all I can afford whilst I arrange to get my finances in order. I hope you will see that this shows a willingness to continue to pay something to my debt with you and work towards clearing this through the CCCS DMP.

I would ask that you please consider reducing or stopping interest or any other charges on my account to help me during my financial difficulties and to avoid increasing my debts any further.

All correspondence and contact in relation to my account should now be made with CCCS direct and they will be in touch with you shortly to confirm their details and the start date of the DMP. Our DMP reference number is XXXXXXX and you should quote this on all correspondence with them. If you do need to contact me in relation to my account at any time, I request that, in accordance with OFT guidance, you respect my request that all communication is made ONLY in writing.

I note that the due date for payments to my account is currently around the XXth of each month. Since CCCS send all payments out around 25th of each month, I would be grateful if you could move my current ‘due date’ to 25th or later in the month to avoid timing differences with CCCS which might result in unnecessary late payment charges, further compounding my debt problems.

I thank you in anticipation of your assistance and co-operation whilst I am going through this difficult time, and assure you that I am doing everything I can to resolve my current financial situation in a responsible and sustainable manner.

Yours faithfully

Growurown · 16 July 2012 at 1:25PM

willeynotwiley wrote: »

Hi Guys
Been reading your posts for a little while and took the plunge to start a DMP. I found a great letter template on here a couple of weeks ago and now can't find it! It was a template to send to creditors which as I remember was much better tham the template CCCs have sent.
Please help

And thansk for your positive stories

I found this one!

suburbanwifey wrote: »

Sample letter to include with that 1 pound postal order:

Date:
Our ref:
Your ref:

Dear Sir/Madam,

Re.
Account number:

I now cannot afford your proposed monthly repayments because (explain your situation here).

In view of my circumstances I will be sending you a token payment of £1 a month, each and every month for the foreseeable future, unless my current financial situation changes. I would be grateful if you would accept the proposed offer and on these terms suspend further action, and confirm this to me in writing. Please also freeze future interest and charges on this account to provide me with a realistic opportunity to reduce the indebtedness.

I have now started making payments in accordance with this offer. Please find enclosed a £1 British Postal Order payable to yourselves.

If my circumstances improve I will of course contact you again.

Thank you for your assistance.

Regards,

Growurown · 16 July 2012 at 1:31PM

dfgs wrote: »

But my payments in to my debt plan have been erratic, late and not for the full amounts for the last couple of months.

I havent spoke at length with my debt company about it....is my plan at risk? could the plan completely fall through?

Well it could, but only a discussion with the debt company will sort that one out. As HH says who are you with? If you are with a fee paying company you should change to one of the free providers. More money to go towards your debts then.

Tigsmom · 16 July 2012 at 2:09PM

Grand_Benders wrote: »

Might have been mine?

I sort of 'borrowed' yours as a template for mine

(hope you don't mind!) It said everything I was trying to say in mine but around a page shorter! So thanks for saving me in paper and ink.

willeynotwiley · 16 July 2012 at 5:39PM

Grand_Benders wrote: »

Might have been mine?

Indeed it was...thanks so much

:T

Time_to_face_the_music · 16 July 2012 at 6:47PM

Has anyone got any experience of a credit check for car insurance monthly payment, while on a DMP?

Have just had a very troubling phone call with our car insurance company and am now feeling suspicious and paranoid

We changed car insurance last year via Money Supermarket. Today we received a renewal letter from insurance company and an email from Money Supermarket. Renewal with same company had a £170+ discrepancy. We phoned insurer and they fobbed off us with doesn't include legal cover, so we added that online, took price up a bit. Oh it doesn't include no-claims protection, added that online, took it up some more. Last thing to be added was a courtesy car which took it up again but still left more than £60 difference between the quotes.

Up to this point, the insurer claimed they could see the same screen as us and hence the difference in price, when we reached exact match for insurance, suddenly she said she couldn't see it any more and if we wanted to continue, we would have to undergo a credit check. We didn't want to risk the credit check if it lost us the ability to pay for insurance monthly so bottled out at this stage.

Maybe we are wrong but to both OH and me, it felt like a threat and that £60 reduction was not on offer to us :mad:

Hopelessly_Hopeful · 16 July 2012 at 8:20PM

Hi TTFTM

Yes if you check noddle you will see they do these soft searches. It's not like 'proper' credit as the risk is less. You stop paying one month they withdraw service the next.

Hope you get sorted

HHx

Tigsmom · 16 July 2012 at 8:37PM

How do I find out who to make the token payment cheques to? I was going to write the cc account number on the back. I don't get bills because I pay by DD normally.

willeynotwiley · 16 July 2012 at 9:58PM

This may seem like a stupid question but...is it essential to send a token payment by cheque/postal order or indeed at all? I have been sending payments, albeit reduced, to my creditors for the last couple of months only to receive angry phone calls in return

I feel really bad for one of my creditors who has been really good about stopping interest and accepting reduced payments - I feel certain they will receive much less on the DMP and wonder if they will continue to be as understanding?

Tigsmom · 16 July 2012 at 10:07PM

I spoke to CCCS today and they said to send the token payment along with the letter explaining that they are working on my DMP. You may have got angry calls because you just sent the payment but with no fixed plan for DMP. I've noticed that in the bumf you get from most of my creditors they recommend contacting CCCS if you are having difficulty paying so they must prefer dealing with them.

I have managed to find addresses for all of my creditors except Asda. I have an address but can't find who to make the cheque out to. They are linked to Santander so I'm not sure if I make it to Asda or Santander.

DMP & Mutual Support Thread - Part 8

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