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shootingstarXX

Hi just after some advice please Im currently on a DMP with my husband, we pay £328 per month and owe £37000. I recently found out that Im pregnant and Im wondering how we can afford to keep these payments up when Im on maternity leave as Im the higher earner. Can my payments be lowered for 6 months while Im on maternity leave and then return to normal when I go back to work?
Thanks

purple-pear

If On A Dmp With Defaults On Credit File Will Thy Be Removed After 6 Years Or Is File Affected Until The Debt Is All Repayed?

Plus With An Iva Would Thy Make Me Sell My Car If It Is On Hire Purchase Even Tho I Need It For Work As A Community Nurse?

Plus Can A Deby Collection Agency Force Me To Pay Via Court Or Take My House?

Thanks V Much.

purple-pear

i AM NEW TO ALL THIS HOWEVER U ARE NOT THE FIRST PERON TO HAVE SAID THIS MAYBE U WOULD BE BETTER NOT PAYING AND THEN WHEN THE DEBTS ARE PASSED TO DEBT COLLECTION AGENCY NO FURTHER INTEREST SHOULD BE ADDED I AM LEAD TO BELIEVE ALTHOUH MAY BE WRONG, AND U COULD THEN MAKE A OFFER FOR SETTLEMENT OF DEBT FOR AS LITTLE AS 30-50% OF ORIGINAL AMOUNT U COULD PAY LESS ON THEM ALL AND THEN U WOULD HAVE A BIT TO DO THIS ONE BY ONE SLOWLY?

CCCS_Alan

chriswa1 wrote: »

Hi

I'm currently using a DMP via CCCS, but I thought I should raise something regarding my personal circumstances, as they might be applicable to others. If creditors had not frozen interest then I am sure I would have been recommended to go down the IVA or Bankruptcy route. Fortunately creditors did freeze interest intially. Now 1 has started charging interest again, despite having been informed that my circumstances remain unchanged (bar for less debt obviously). If one or more others (there are 6 debts in total) suddenly started charging interest, I would be back to square one, or possibly worse as I would have wasted 18 months and a lot of money, and could have taken an "easy" route with bankruptcy. Is there a way to avoid this situation? It isn't beneficial for anyone - neither the lender nor the person owing the money.

Many thanks

Hi Chriswa1

Regard the creditor that has started charging interest again, it may be advisable to call the number on your monthly statement and request a copy proposal be sent ot the creditor requesting charges to stop. Unfortunately as a DMP is not a legally binding agreement we can only request creditors stop charges which were originally agreed to when the credit was taken out.

Regard the other creditors we can only hope that they continue to help you in the situation by stopping charges which will allow you to continue on your DMP. If all creditors did start adding charges back again, we can quite easily conduct a review with yourself and see if any other avenues would be better suited for you.
If it did come to the point you had to look at bankruptcy (I do not know your individual situation so I am not saying this would be a viable option), It would be better to show that you tried to repay through a DMP but due to creditors been not willing to help you, you had no other choice but to go through the process of bankruptcy.

Regards

CCCS_Alan

shellfishb5

Matthew, Sarah, Alan and Sue,

I have just started DMP with CCCS making my first payment today but i have a concern regarding bank account, one of my debts is a joint overdraft with my ex for £1560 i have another account with them that i have my wages paid into and pay my bills. I have been looking for a basic bank account have tried Citibank sent paperwork back they just needed a bank statement which i enclosed. Tried Co-op and was going to try some of the high street banks but i dont have a valid passport its about 2 years out of date and i have only just managed to get my driving licence back of my ex and sent off for address change.
I have spoken to staff in my local HSBC branch and they said that HSBC MIGHT take money from my current account to pay of overdraft, they havent up till now i have been paying £10 a month for 2 years, according to my DMP i will be paying them £34. I am just worried that now i am on DMP they might go into my current account and take money, before i can get another sorted out. I handed my DMP form in at my local branch and they told me to pop back in, so i am going in this afternoon. Any advice please

retailisdetail

Hi
I have been reading on the forum about challenging the enforceability of debt by requesting a CCA. What happens if the CCA is not produced? Some people have said that you can then stop paying the debt, but presumably this would continue to show on your credit report as not being paid? And if so, what is the course of action - to wait 6 years without contact and then apply the limitations ruling? Confused!

CCCS_Matthew

shootingstarXX wrote: »

Hi just after some advice please Im currently on a DMP with my husband, we pay £328 per month and owe £37000. I recently found out that Im pregnant and Im wondering how we can afford to keep these payments up when Im on maternity leave as Im the higher earner. Can my payments be lowered for 6 months while Im on maternity leave and then return to normal when I go back to work?
Thanks

Of course. Once you know what you're income is going to be when you're on maternity, give us a call and we'll conduct a review. If you're got less money coming in it's likely we'll have to drop the payment to your DMP until you're back in the position where you're earning more again.

Hope this helps.
Matthew

mcajshaw

Matthew, Sarah, Alan and Sue,

Hi guys,

I have recently set up a DMP with Payplan and make my first payment tomorrow morning by standing order. Two of the debts in my DMP are my a Lloyds overdraft of £2500 and a Natwest one of £2000. Both balances stand slightly in excess of their overdraft limits. Lloyds at -£2543.00 and Natwest -£2027.35 with charges and interest to be added over the next few days.

Once the DMP gets up and running (if they agree) they will both be receiving around £40 per month. However becuase they are over the overdraft limit now they will be picking up monthly fees and daily charges in Lloyds case. These charges and interest will amount to more a month than the £40 payment. As a result I don't see how it is ever posisble for the balance to ever come back within the permitted overdraft limit so I can start chipping away at the deficit.

Am I missing something as I am now really worried about it all again.

Thanks in advance, Jonathan.

bunnygreen

Hi,
My husband and I are just going through the process of a DMP. We have the paperwork to sign and send and will be sorting it out this weekend. I just have a couple of questions...

- I will set up a bank account this weekend - I assume that we make sure our work pay us in the new bank account and transfer the Direct Debits for all non-debts to the new bank account. Do we cancel all of the other direct debits?
- one of our debtors is an unsecured loan with Northern Rock as part of the together mortgage they offered. I was advised that Northern Rock may try and make this a secured loan to make it a priority debt. However, we already have a secured loan and the value of that with our mortgage is the amount our house is worth - so surely they won't be able to make the loan secured?
- We have an account with Next, although there is no balance on there, do we have to shut it down? We would only intend to pay for clothes there and then instead of by account, but my guess is we won't be allowed to do this? This one isn't as important as we won't be buying clothes for a while!!!

Part of our budget includes things that are shown monthly, but may only be paid yearly. Are we allowed to put this money into a savings account ready for us to draw upon when we need to or are we not allowed to save anything

I think that's it for now! I have to say, it feels a big relief to be sorting out our debts. I can't wait for it to get started.

vanandal

I'm in an IVA (SINCE jAN 2005), I have been diagnosed with cancer and have received treatment, but had to have time off work mostly unpaid, I informed the IVA practitioner, who said a 4 month break would be ok.However today received a notification that we have missed more than 2 payments and they have issued notice saying we are in default ( obviously !!). I'm inclined to say sod it ! and make myself bankrupt. P.s. I also know that the IVA practitioner has not kept their part of the deal and have not made payment to all my creditors within the IVA. Advice please, would be grateful.