time to get a company to do my DMP ? and re-assurance!

worried-me

Last year CAB sorted out repayment plans for all my creditors (5) - 4 direct with them and one with a debt company where the debt had been sold on. They then dumped me cold!

Since I have re-negotiated myself but no one of my creditors is not going to renew the payment plan and has told me in three months they will sell on to a third party... in the meantime I am STILL paying my offer amount even though they are no putting interest mack on which make my payment useless but there you go! my questions are :-

1. I assume the company has to be reputable and will not be heavies turning up at the door!
2. I understand that even the thrird party could not send bailiff's round unless I default on CCJ's for which they would have to get from court first ?
3. The stress of doing it myself is no getting to me and should I get a company such as Payplan to do it for me ?
4. I changed by bank account last year as one of my debts was a o/d; since then I have had to get an o/d on my new account - although I do not consider this a debt as I am no in default and pay the interest - is this OK or would I have to go through the reigmarole of changing accounts again and would I even get one!!
5. Pretty much the same as # 4 : I now have a debt with the LSC for court work (unrelated) -again I do not consider it a defaulted debt as I have negotiated a payment plan which will pay this off in 10 months and as such it's just like a electrcity budget account - or should this now be included ?

I refuse to get all panicky as I know that I am doing all I can and techincally at this point there is not much to worry about - but please someone reassure me!

RAS

Hi

Ring CCCS or NDL. Then look at going with them or Payplan.

Some people think that CCCS allowances are a bit more generous, others find it means they do not have enough spare income to send their creditors.

Are you up to date on the rent/mortgage and Council tax?

edinburgher

1. Let's hope so!
2. That would appear to be true - they'd need to seek an order allowing for that I think
3. Payplan are good and very friendly, but they do appear to be massively over worked. I stopped using them after two and a half years because the answer times for e-mails etc. fell off a cliff. I don't regret using them, but there's still a fair bit of admin involved.
4. You should be ok *if you pay it off*. Don't get caught in the trap of starting to owe interest on it, panicking and moving to a new bank with a bigger interest...
5. Do you mean if you talk to Payplan about a dmp etc.? You will need to mention it, as they insist upon knowing all your incomings outgoings.

I was in exactly the same boat as you at my lbm maybe three years ago. Realising you have a problem is the first step, thinking about how to deal with it rationally is next, then seeking advice - you're doing fine. Let us know how things continue!

worried-me

Thanks guys,

Yes up to date on mortgage, phone, C.tax, elec, (no gas) and all priority.

The creditor being a pain is Halifax Credit Card - so I assume a national company will not use heavies!! - I am only worried about this as I have small children in the house!

Also my mortgage is with Halifax but I have been told this is totally seperate from the credit card debt and in no way can my mortgage be affected if I keep payments up which I am.

Gemmzie

Halifax CC have been a headache with us too. They eventually pass it over to their DCA company who have been a pleasure to deal with I must say. Let them make their silly threats, if you are paying what you can afford then any court will be on your side.

Deep_In_Debt

Hellifax have been a nightmare with me also - I'm waiting for them to pass it on to a DCA - hopefully won't be long now. I've had 10 months of their threats and harrassment, so they must be getting bored with me now as I'm a bit bored with them!

You should be alright with your mortgage. My mortgage is with Abbey who are one of my creditors and my mortgage is completely separate so no problems with them there - they've not mentioned it and nothing's changed, but do make sure you keep up your mortgage repayments.

Generally, dmp companies recommend that you have a basic bank account with no overdraft so you can't add to your debts. But I guess if you don't use your overdraft, then you may be ok, but do mention it to Payplan or whoever as I'm not totally sure on this.

I'm on a dmp with CCCS at the moment and have been since January. However, with the knowledge and experience that I have gained from this forum and other forums, I'm thinking of going it alone soon now that CCCS have done the initial "leg work" that I couldn't face doing originally.