DMP Mutual Support Thread (Part 5)

suze72

p.s rcpbiggles

If your debt is passed on to a DCA you just need to inform CCCS as they will need to send payments to a different address.

Daffykjs

Can someone please tell me what a termination notice means?

Thanks

bexxie90

Termination of account held with the company I think. Ie; Passing onto a debt collection agency
x

Daffykjs

oh ok! so not that bad really then! just like the others have done but worded differently! it just sounded quite scary! these companies certainly have a way with words!!

Ta!

ianmak

A Termination Notice is basically them closing your account, so you can't use your card and/or overdraft. Not that you'd want to anyway!

Also if an account is passed onto a DCA, then they will attempt to get money back. If an account is SOLD onto a DCA then this is normally at a reduced amount, so the DCA make money as they're still trying to get money back at the amount you owe, rather than the amount they paid for it, if that makes sense. I believe some DCAs will still be quite aggressive, and on the other hand some will be happy to carry on receiving a monthly payment as they'll do quite well out of it in the long run!

ianmak

Next one...

rcpbiggles: 269

Daffykjs

Ooh thanks Ian! That's really cleared it up!

rcpbiggles

(hoping my new signature will work!)

Blimey, what a tangled web we weave. Had a phone call the other day from a staff member at LLoyds (My local branch). She invited me to come in to upgrade my account (they have no idea we are about to go on dmp). Anyway, I know her as have banked there for years and she recently came into my work as a customer and we chatted. She calls me by my first name (not sure about this - I'm no prude but feels a bit familiar! I wouldn't have called her by her first name at my work)

Anyway, caught on the hop trying to get my children ready for swimming lessons I agreed to an appt (thinking I would cancel it on their main number) - I'm terrible at saying no, particularly to someone I know.

So, she has just phoned and left a message on my answerphone to reschedule as she has a funeral to attend. Obviously I don't want to reschedule!! Anyone think of a delaying tactic please?!! Upgrading my account will apparently cost me nothing.... for the short term at least hmm.

Tigert

Hi rcpbiggles,

Just phone and say you want to seek independent financial advice before discussing any change of account and want to reseach other banks!

Lloyds account reviews are nothing more than high pressure sales meetings.

Easiest way is to say 'No' and keep saying it until they give in.

rcpbiggles

I've just discovered BT's 'choose to refuse' service. Basically you can register phone numbers with them and the calls will get blocked.

The service is free for the first month then £9.74 a quarter after that but can be cancelled at any time.

I've signed up for it to block phonecalls from my creditors until my dmp is in full swing. I figure my sanity is worth the cost of £3 odd a month!!

I also see they offer an anonymous call reject service but not sure about this as my brother blocks his number for work reasons and I think my work do too so I wouldn't be able to call home from work....

Just thought I'd share in case anyone else gets stressed by the phonecalls too!