DMP Mutual Support Thread (Part 5)

c7sdus

Kudox wrote: »

Hi Don't think it's necessary to inform payplan, and It doesn't really matter if Lloyds take a dim view or not, you are perfectly entitled to see ay information they hold on you.

I was thinking more along the lines that at present they are charging aprox £285 interest each month but Payplan say that they MAY be able to get these taken off / reduced at end off DMP, will SAR put this at risk ?

Kudox

c7sdus wrote: »

I was thinking more along the lines that at present they are charging aprox £285 interest each month but Payplan say that they MAY be able to get these taken off / reduced at end off DMP, will SAR put this at risk ?

I can't say for sure but I would think not, if you find that for instance they don't have the original agreement then that would put you in a stronger position in negotiating with them as regards interest and what have you.

I'm just about to do CCA requests or Sar requests with all my creditors as I think it will put me in a better position to negotiate F&Fs etc,(if ever in a position to do that:rolleyes: )

c7sdus

Kudox wrote: »

I can't say for sure but I would think not, if you find that for instance they don't have the original agreement then that would put you in a stronger position in negotiating with them as regards interest and what have you.

I'm just about to do CCA requests or Sar requests with all my creditors as I think it will put me in a better position to negotiate F&Fs etc,(if ever in a position to do that:rolleyes: )

Not sure if it makes a difference but they did offer me a F & F on my loan, aprox £14.2k outstanding & they were willing to accept £10k as F & F which is about 70%

Kudox

Jmorrissey290, do keep trying to get hold of cccs, you will get through in the end and as DevonGirl says they do give good advice.
If you try to get a F&F then the general advice on here is to start low in your negotiations, and make it clear that the money is only available in the short term.
Not sure how you force a creditor to freeze the account. We are trying to do that for my OH at the mo with Halifax and they are saying they will only stop the interest if we go through the CCCS, basically if they don't want to then thety won't.

cocker100

Kudox wrote: »

Thanks for that info, I was just going to send a CCA request separately for my RBS and Mint cards(aslo RBS) so does that mean one request for both accounts will do?
Also does the SAR request include a copy of the CCA, if so I might do that instead and then I get the list of charges too, so I can claim those back.

Yes the SAR request does include a copy of the CCA.

The good thing about requesting it through a SAR though is that it must be a "true and exact replica" of the original document, complete with your signature!:D

If you only request a CCA under sections 77-79 of the Consumer Credit Act 1974, then they are permitted to leave out certain parts including any signatures on the document as described the the 1983 regulations. Some creditors are just sending blank application forms and a list of the T&C's and claim to have fulfilled their obligations under CCA1974(77-79).

Therefore with a SAR request you are in a much better position to know where you stand with regards to any settlement.

Cocker:)

dlb

With F+F start at abou t 30% of the debt...tell them the offer is limited to 30 days as the money has been offered you by a family member and the offer will not last long.
Then if they refuse work your way up from 30% of full ballance...crediotrs tend to settle anywhere from 30% -75%.
Donna

dlb

Jaybag..you can deley the start of a dmp with the none fee paying companys to, so you have time to put an emergency fund away, you would just send them a token payment anything as low as £1 whilst you wait for the dmp to start.
With the fee paying firm i was with they worked out what my monthy payment would be and took this first payment as an admin fee, no money got sent to my crediotrs for over 9 weeks from me signing up but i had paid out to them.
With payplan//cccs it would still be the same lenght of time for crediotrs to reseave the money if you deley the start of the plan but you will not have paid any extra out and can use that towards the baby items and emergency fund.
Donna
x

jmorrissey290

Thanks DevonGirl and Kudox

I did try the CCCS on-line remedy and it recommended IVA, which is not a route we wish to go down, especially if my mum and dad are forced to sell up and move or something like that – it really would tip her over the edge. Other options were debt management plan or self administration, using the lump sum (then £7,500) to reduce the debt

However, the £200 I quoted in the survey is needed to fund the £7,500, and in a scenario I entered with only £10 spare it recommended Bankruptcy, which again is not a route we wish to go down.

I feel a bit fraudulent asking for advice, as I am fortunate compared to many in that I could currently afford to contribute about £200 to my dad to help pay off the debt, but basically I cannot shoulder that burden for 12 years, especially in these uncertain times and with my own young family to think about.

As far as I can tell, they sell off the debt quite cheaply and my dad literally has nothing in terms of free cash (as my wife says, “you can’t take trousers off a bare !!!!!!”), so F&F really is their only option of getting a decent sum of money back.

I have indeed time bound the offers, basically to end March (or as long as First Direct will lend me £10k @8.9% over 5 years if sooner), but not heard back yet on this one [they all rejected £7.5k, 26% outright, as expected]

Anyway, I will continue to plug on, and your comments have inspired me to try the CCCS again as I haven’t tried for a couple of weeks. At the very least it may get Barclaycard off our backs for a while…

Thanks again for your comments…

emmylou3219

Hi there,

Just a quick update (ok, just re-read it..not so quick!),

Just got back for court (Oh the Joy), Hitachi finally got round to making good their threats....Again, a really nice bloke who talked us through what was going on etc etc (I really am blessed in some ways me thinks!!:D)

Anyway, they are going to accept the offer now and will stop the interest. Well thats them off my back for the next 8 years...

not sure what Nationwide are up to?!? They took us to court, agreed an amount (which we pay!) and were going for a charge on the house.. I had heard nothing more until my loan statement arrived when I realised they were still adding interest, Can I do anything about this? or I am I best leaving the nasty scary fire breathing dragon asleep as long as possible?

I hate HSBC, I am beginning to think they can see into my life and hit that call button at the most annoying of times on purpose!!! Shopping, friends round, family round etc etc..aaaarrrgggh!!!:mad: :mad:

Have to say, all CC's are very quiet and not charging interest at the moment..bonus:j :j

Going to go file things now...feeling positive, 1 year in and the going is good!,

Em x

catwoman150

I haven't been on for a while. I have just been catching up on the last week of posts. Nothing much to report here. had Halifax on the phone the other day and they have agreed again for the same payments to carry on for the next three months. Apart from that no one has phone up for a long time - just over two months and the letters have stopped as well.