On a DMP and want to treat one creditor differently...?

Numpty_Monkey

Deep_In_Debt wrote: »

So I'm a liar?

No worries, will leave the forum.

Good luck to you.

I never called anyone a liar

What i said was
I don't think there is any need to call anyone a liar

Shoe_Gal

After reading the above (!) just facts rather than opinions

I was on a DMP with CCCS, I dealt with Lloyds directly in an atempt to stop them charging interest. CCCS advised I would have to cancel my DMP as I had negotiated with a creditor outside the plan, which I did

Since then I have contacted all my creditors and offered the same payment they were getting through CCCS. So far all have accepted and none have re-started interest

I suppose I am now technically on a 'self-administered' DMP

Good luck

MyLastFiver

Thanks ShoeGal - that's interesting to know. Presumably when you made your offers to creditors they asked for your SoA, which would include details of your other creditors. Did you not worry that they would notice you had paid one of them off in full?

I'm beginning to doubt the usefulness of a managed DMP - whenever there's a problem the creditors contact me directly anyway. When you're first in default and everything's scary, it's comforting to have a DM company take the burden from you, but once things settle down perhaps it's best to take charge yourself again...

Shoe_Gal

I agree with that Fiver

As I said so far so good with my creditors, but I feel much more in control now and confident to deal with any problems that do come up. To be honest, in the current climate I'm inclined to think that most creditors receiving a reasonable offer, with standing order payment, will be happy to accept and not overly concerned with other creditors! I've seen a few negative comments here recently about CCCS and I just feel more comfortable dealing with things myself

itsnowtime

Firstly before I add my response, I'm very disappointed to see that this thread has got a little unruly! We all come on here to support each other and when typing rather than verbally saying it, it can sometimes be a little difficult and can often be misinterpreted. I personally don't think you've been fair.

Anyhow onto the matter in hand and my personal experience with HSBC. I like you had a loan (plus overdrafts/current accounts etc..) which they did exactly the same. They wouldn't allow me to cancel the SO, continued to take it from my overdraft - getting me further into debt etc..

However after a little while they ended up taking the SO then reversing it (charging me £25 for the pleasure). I'd be tempted to write them a complaint letter as previously advised -

can I just confirm have you agreed to the increased Overdraft Limit or did they apply it automatically? - 'cos you can add this into your complaint letter if you didn't!

The debt will eventually be sent to a DCA where they will stop applying interest and charges and you can pay them realistically what you can afford.

When you enter into a DMP you should be declaring all your incomings and outgoings and if you find that you have extra you should be including this in your payment.

Just something to think about - you can afford to pay the extra now - what happens if your circumstances change in the future and you struggle to meet those repyaments?

Also if you're saving a little what would happen if you neede that money for something unexpected?

Hope that helps - if not then I think you've pretty much made your mind up.

Good luck - HSBC are interesting to deal with...

MyLastFiver

Thanks for your other comments itsnowtime, given me stuff to think about, but this:

itsnowtime wrote: »

I personally don't think you've been fair.

You did not read the content of Deep In Debt's post before he edited it to completely change the facts of his story, in order to repair obvious contradictions with previous things he had written in the same thread. Either he lied in version 1, or he lied in version 2. Either way, he lied. He is a liar.

It irked me because here I am seeking good advice about an issue that's important to me. And that guy was making it up as he went along.

You cannot judge what's "fair" unless you have all the evidence before you.

MyLastFiver

Just an update on this - I asked Payplan what their attitude would be to me coming to a separate arrangement with one creditor. They said it would be fine, and that that creditor would have to be removed from the Plan. Which would alter my SOA. Which means my other creditors might know.

Lady at Payplan says that there have been people who have done this and their creditors have not batted an eyelid, but she could not guarantee it.

Still don't know what to do

louietudor

just read this thread and wish i hadnt!! dont think ive ever read anything like it on this board - i would give advice but feel your would not take it or at worst would make a personal attack - several people have given advice and you have spoke to paypal and got their advice - what more do your want????

insider66

MyLastFiver wrote: »

Just an update on this - I asked Payplan what their attitude would be to me coming to a separate arrangement with one creditor. They said it would be fine, and that that creditor would have to be removed from the Plan. Which would alter my SOA. Which means my other creditors might know.

Lady at Payplan says that there have been people who have done this and their creditors have not batted an eyelid, but she could not guarantee it.

Still don't know what to do

Nobody can guarantee anything on a DMP fiver...

If it helps you right now, take them out.

I hope that my posts in this thread earlier are now justified from your talk with payplan.

There is a reason for my name...

skintandscared_2

My view is that when you are on a DMP, you are doing it so you can pay everyone off. You are not going bankrupt, or doing an IVA, where people won't get all of their money back eventually. I have about 4 fairly small debts and 4 much larger ones. I think if I had a small windfall and could afford to pay off some of the smaller ones I would do it. As you say, it would give more of the "pot" to the bigger creditors. It's not like HSBC are going to get their full payment and everyone else will lose out.

I suppose it's one of those things that you won't know until you do it how the other creditors will react. I've read so many different tales on here of different treatments by the same creditors. It's all a bit pot luck really isn't it!