DMP Mutual Support Thread (Part 5)

Toffee_Penny

OH had a letter today from Debt Clear Recoveries for his MBNA debt (these are the ones who are saying they own the debt and wrote to mum's house first to tell us so :rolleyes: ) Today we have a totally different letter! :rolleyes:


Anyway the letter states that if OH contacts them immediately they can arrange a 'once in a lifetime' offer to clear his balance!! WOW!! Thats nice of them isn't it eh? :rolleyes:

Considering they don't actually OWN the debt and MBNA will have to pay out ppi reclaim from 2003 they seem a bit quick to get rid of the debt don't they? hmmm :rolleyes: hot potato, hot potato

Bring it on MBNA! (I so wish there was a fighting smiley on here...:D )

AverageJoe_4

Toffee_Penny wrote: »

OH had a letter today from Debt Clear Recoveries for his MBNA debt (these are the ones who are saying they own the debt and wrote to mum's house first to tell us so :rolleyes: ) Today we have a totally different letter! :rolleyes:


Anyway the letter states that if OH contacts them immediately they can arrange a 'once in a lifetime' offer to clear his balance!! WOW!! Thats nice of them isn't it eh? :rolleyes:

Considering they don't actually OWN the debt and MBNA will have to pay out ppi reclaim from 2003 they seem a bit quick to get rid of the debt don't they? hmmm :rolleyes: hot potato, hot potato

Bring it on MBNA! (I so wish there was a fighting smiley on here...:D )

I had a similar "offer" letter from them too, and when I phoned them they said it didnt apply to me! I made a MASSIVE complaint and held up their process no end -

AJ

louWILL_3

Afternoon Everyone

Hope you are all well???

I'm a little bit confused today last week I rung all my creditors and got a balance off them all. This was not a full and final settlement I made sure of this when I requested it. In total the amount I owed to everyone added up to just over £37k. Deep joy!!!

Today I have viewed my credit report and it says that I currently have used £44k of my available credit.

How would they have got to this figure????

Cx

jenevieve

thanks Suze,

I think now the letters are coming in, I am getting a bit worried. Had one from Aegis re my MBNA CC account - think they are MBNA inhouse people and I guess these are normal letters that everyone gets so I am going to do what you suggest and chillax - love that word!:rotfl:

ad1jnl

Creditors Letters went in the post this morning with token payments - so just waiting for the s**t to hit the fan!! Having said that most of my direct debits came out at the beginning of the month - the only one not paid is the student loan so they will probably know the situation before the next payment is due. Therefore most of my token payments are for April rather than March although I haven't strictly specified this. Would I be wise to send further token payments next month??

Thanks
Jon

icecube2009

Hi all
Please tell me if I am posting in the wrong place, but want a little advice.

Myself & hubby have approx £42k debt (25% mine 75% his), we have come to the point where we are borrowing from a to pay be etc. so need to sort it out.

I did a SOA on the cccs web site & it said we have £208 left after everything has gone out so we would have to be on a low start DMP, but it didnt really give much details of what a low start DMP is and what disadvantages it has compared to a normal DMP.

I have a few questions

1. what is a low start dmp compared with a regular one?

2. if there was a chance we could get a lump sum would offering FF's be a better option than a DMP?

3. I we can get a lump sum (not going into details but theres a chance someone may loan us the money) how much would we need for total debts of £42k if we were to offer FF's?

4. if we can get a lump sum but not enough to offer FF's to all out creditors (6 in total) is it acceptable to offer to some but not others?

5. we both have bank accounts & credit cards (20k of the debt) with lloyds TSB & I have read about some people having not a lot of luck with FF's & DMPs with lloyds, is this the case?

any help really appreciated, thank you so much - and please if this post is in the wrong place, can someone direct me to the right place please x

cheesypuff

St0lli wrote: »

Just plugged my home phone back in after a week and my voicemail was full. All the messages were from creditors asking me to ring them back. :rolleyes:

As I was typing this I received my first phone call of the day at 8.07am!!!! :mad:

Apparently its Citicards according to http://whocallsme.com I still didn't answer - thank goodness for caller id! :j

Snap Stolli, I checked my voicemail today and it was full all messages from the likes of RMA asking me to call them urgently. I deleted all of them. I can screen my calls so have decided not to answer anymore as there is no point you get no-where. Do I need to send any further letters to any of them after sending the initial CCCS letter?

icecube2009

ad1jnl wrote: »

Creditors Letters went in the post this morning with token payments - so just waiting for the s**t to hit the fan!! Having said that most of my direct debits came out at the beginning of the month - the only one not paid is the student loan so they will probably know the situation before the next payment is due. Therefore most of my token payments are for April rather than March although I haven't strictly specified this. Would I be wise to send further token payments next month??

Thanks
Jon

what is a token payment, I assume it is a small payment that you offer rather than the fulll amount, but why would you do this rather then continue to pay the full amount until the payment plan is set up?

Parsley_2

icecube2009 wrote: »

Hi all
Please tell me if I am posting in the wrong place, but want a little advice.

Myself & hubby have approx £42k debt (25% mine 75% his), we have come to the point where we are borrowing from a to pay be etc. so need to sort it out.

I did a SOA on the cccs web site & it said we have £208 left after everything has gone out so we would have to be on a low start DMP, but it didnt really give much details of what a low start DMP is and what disadvantages it has compared to a normal DMP.

I have a few questions

1. what is a low start dmp compared with a regular one?

2. if there was a chance we could get a lump sum would offering FF's be a better option than a DMP?

3. I we can get a lump sum (not going into details but theres a chance someone may loan us the money) how much would we need for total debts of £42k if we were to offer FF's?

4. if we can get a lump sum but not enough to offer FF's to all out creditors (6 in total) is it acceptable to offer to some but not others?

5. we both have bank accounts & credit cards (20k of the debt) with lloyds TSB & I have read about some people having not a lot of luck with FF's & DMPs with lloyds, is this the case?

any help really appreciated, thank you so much - and please if this post is in the wrong place, can someone direct me to the right place please x

Hiya,

I can't answer all of your questions but when I was doing the CCCS debt remedy I played about a lot with the figures and it seemed to change from low start DMP to just DMP once I had an amount that would take less than 10 years to pay off. Currently on the low start one as looking at 14 years for most of the debts but hoping to shave 4 years off that when get a pay increase in May.

Me and OH both have credit cards with TSB. The DMP has been accepted on the smallest card (£500) and they are still charging a small amount of interest that cuts the payment in half. The other two cards (£11500 & £15000) they have not accepted the DMP but have defaulted both of them and stopped all interest. Also my CC has disappeared from by internet banking and we both received random paying in books through the post but no explanations. All in all we expected TSB to be the worst but they haven't been nearly as bad.

All of ours have defaulted and stopped interest now. Halifax phone every three months and I just tell them nothings changed and they set the agreement for another three months. The last set of letters from CCCS increased the payments so hopefully they are all happy.

Can I have a number please? Will be hanging around for many years to come.

Thanks to all those giving info and advice. This forum is what decided me to go for the DMP and it was the best thing I did last year.

:T

St0lli

cheesypuff wrote: »

Snap Stolli, I checked my voicemail today and it was full all messages from the likes of RMA asking me to call them urgently. I deleted all of them. I can screen my calls so have decided not to answer anymore as there is no point you get no-where. Do I need to send any further letters to any of them after sending the initial CCCS letter?

I haven't sent them anything else as I knew CCCS would be contacting them regarding the DMP. They really don't like the £1 token payment but I'm sending them another one this month as my DMP doesn't start until 1st April. At least it shows I'm willing to make a payment. I know they have received the letters from CCCS because when I got back today I've got letters from M&S and John Lewis accepting my DMP. M&S are going to review again in 12 months and have put me into Default straight away. John Lewis have agreed and will review in 6 months.

2 downs.... 8 to go! :T