CCCS DMP Update...

acdebtfree

Briefly, with new username for anonymity...

Light bulb moment in July.
Promptly set up DMP with CCCS (thanks for info/help guys).
Made a few 'token' payment throughout August.
DMP started in September.

Virgin (MBNA) card. OK. Have reduced interest to zero for 12 months and have stopped adding charges.

MINT card. OK. Have reduced interest and set minimum payment to agreed amount with CCCS.

HSBC Online card. OK. Have agreed a reduced payment with no interest and charges for six months and will then review.

Morgan Stanley/Goldfish (now Barclaycard) card. OK. Have agreed a reduced payment with reduced interest for 12 months.

Northern Rock Loan. Not so good. Will not accept reduced payment and have issued default notice. Am trying to get reasons from them as just a straight 'not acceptable' in their letter. Surprised about this considering their own financial position. Thought they may understand being short of cash!

HSBC Loan. Unsure. Wanted me to agree to a 'managed loan' including card and overdraft. Was advised to ignore by CCCS and haven't heard anything in a month.

HSBC overdraft. Unsure. Is just accruing some interest, have had no demands for additional payments.

Will keep you all posted...

MummyOnAMission_2

Well done so far!! Im hoping to start a DMP soon so this helps me feel a little better!
Good luck

Deep_In_Debt

Hi
Well done on this.

If it helps, Northern Rock are well known on here and from what I read, they don't accept dmps. I don't have anything with them thankfully. Not sure how to deal with them apart from keep sending them payments. They are difficult to deal with from what I have read on here any may go for court action/CO so just be aware.

Also, HSBC are well known for offering managed loans but they probably will accept the dmp eventually.

Good luck with it all though and keep us posted.

acdebtfree

Deep_In_Debt wrote: »

Hi
Well done on this.

If it helps, Northern Rock are well known on here and from what I read, they don't accept dmps. I don't have anything with them thankfully. Not sure how to deal with them apart from keep sending them payments. They are difficult to deal with from what I have read on here any may go for court action/CO so just be aware.

It'll end in court as I have default notice to pay arrears by today. What they don't understand is that almost any court will simply judge on amount I have offered anyway as that is all that is left from SOA. I think the banks just like to have it formalised. They won't get their money any quicker...

Deep_In_Debt wrote: »

Also, HSBC are well known for offering managed loans but they probably will accept the dmp eventually.

Well, they have with the card already, but then its managed by HFC. I have explained to them that this is all Ican afford and that is what they will be getting.

Deep_In_Debt wrote: »

Good luck with it all though and keep us posted.

Thanks, will try to...

acdebtfree

MummyOnAMission wrote: »

Well done so far!! Im hoping to start a DMP soon so this helps me feel a little better!
Good luck

The first few weeks after stopping payments are a little stressful with phone calls etc. I wrote to them all telling them that I was unable to discuss by phone for obvious reasons and that I would prefer them to discuss it with the CCCS and they soon stopped calling. As soon as they realise that you are serious about getting rid of debts but simply cannot afford the full payments then they, generally, have been quite sympathetic. The CCJ's that will be generated worry me a bit but I'd rather that than people banging on the door!

Thanks for the support.