DMP Mutual Support Thread (Part 5)

mozzyc

Hi

Wonder if anyone can give me some info?
My husband and I have been on a DMP with payplan since 2005. This was due to end 2010, now its been pushed up to 2011.

The thing is, the amounts that payplan have got on our justabank website, and the amount that we actually owe the creditors, is so far out. This is due to added interest by the creditors.
Some payments don't even cover the interest charged on some accounts.
Payplan has asked over and over again for the interest to be stopped, but with no luck.

Payplan say to us that when the 5 years is up (now 2011), that they will write to all the creditors and ask them to write off any interest added to the account over years since the plan began.

But how often does this actually happen?
Has anyone had experience of this actually happening?
If they aren't stopping the interest now, what's the chance they will do it at the end.

Any advice on this would be very greatly appreciated!!

VanillaDelia

My CCCS is now up and running. I have received my confirmation and list of offers which they will put forward. My first payment is due 1st April. I cant wait.

Just thought I would share my excitement. It took just 2 weeks to get set up.

Anyone else a 1st April starter like me?

thenightporter

geoffmr1 wrote: »

Can I ask if you had a credit card with egg?? If so & you took it out before 2005 then it's likely the CCA they send will be an unenforceable one.

Unfortunately they are loan accounts so I expect they have the CCAs but I'd rather know either way now.

:rotfl:Just got a very boring postcard from Aegis (MBNA) telling me they would be 'calling' on Saturday :rotfl:All the way from Mumbai! LOL.

Think I might send them a who are you/stop calling me letter this weekend (if I can find an address that isn't in India).

ianmak

mozzyc wrote: »

Hi

Wonder if anyone can give me some info?
My husband and I have been on a DMP with payplan since 2005. This was due to end 2010, now its been pushed up to 2011.

The thing is, the amounts that payplan have got on our justabank website, and the amount that we actually owe the creditors, is so far out. This is due to added interest by the creditors.
Some payments don't even cover the interest charged on some accounts.
Payplan has asked over and over again for the interest to be stopped, but with no luck.

Payplan say to us that when the 5 years is up (now 2011), that they will write to all the creditors and ask them to write off any interest added to the account over years since the plan began.

But how often does this actually happen?
Has anyone had experience of this actually happening?
If they aren't stopping the interest now, what's the chance they will do it at the end.

Any advice on this would be very greatly appreciated!!

I did read somewhere that PayPlan & CCCS? attempt to get the banks to wipeout the charges accrued since starting the DMP, and apparently they are normally successful. No idea if this is the case or where I saw this (Though I'm sure it was on this thread)?

Sorry I can't help further!

massivedebts

VanillaDelia wrote: »

My CCCS is now up and running. I have received my confirmation and list of offers which they will put forward. My first payment is due 1st April. I cant wait.

Just thought I would share my excitement. It took just 2 weeks to get set up.

Anyone else a 1st April starter like me?

ME:j ME:j ME:j - I'm a 1st of Apriler too!!:j :j :j

I've set up my D/D etc, just awaiting welcome pack, it was sent 3 days ago, so any day now.. . . . . . . . .how exciting!:D

MD x

KrazyKat_3

Hi
Ive got a couple of questions if anybody can help me!, i read earlier that when you get a Default they stop interest. I have a paypal credit card underwritten by GE Capital Bank, i got a "Notice of Default Sums" in January of which they added £12 then again in Feb with another £12, is this the same thing? they are adding interest and also the £12's as late payment fees? (I also have a Evans account with them and they have done the same)

Have told them numerous times on a DMP and Payplan have sent the info 3 times as they said they hadnt got it. Finding anything with GE Money or GE Bank a nightmare they are useless !!!:j

Also wondered how i request my CCA, from various company's...i presume you can also do this for store cards?

After 3 months of DMP only Egg and Halifax have been great, accepted DMP, stop interest etc, although ive just got a letter from Black Horse in the post to say they have decided as a concession to apply a interest rate of 0.00% until 01/04/10.:beer:

St0lli

Don't forget we are holding a virtual party on 1st April for all us DMP'ers who will be starting then! :beer: _party_

mozzyc

Thanks Ianmac.

I really hope that is the case.

I just don't know anyone who has ever been on a DMP, so not sure how it works at the end.

If the interest does get written off, this will be a godsend. Roll on 2011. It's been a long road so far. Living on such a tight budget is really hard. We have even put off having kids for the past few years, wanting to wait until we can afford it.
But being in our 30's, we're not getting any younger. So i really hope that 2011 is the end of it all.

Thanks again

MRSG2B_2

VanillaDelia wrote: »

My CCCS is now up and running. I have received my confirmation and list of offers which they will put forward. My first payment is due 1st April. I cant wait.

Just thought I would share my excitement. It took just 2 weeks to get set up.

Anyone else a 1st April starter like me?

Me too its going to make things so much easier for me to cope day to day, and reduce my stress levels considerably!

Yay us! :j

suze72

OMG I can't believe it!! After 3 months of looking OH got 3 job offers this morning - 3!! And it's Friday13th!!


He has been working part-time but we really need 2 full time wages with all our overheads. Thinking I may be cracking a bottle or two tonight.:beer: