DMP Mutual Support Thread (Part 5)

cocker100

clucky26 wrote: »

It was a charging order they were talking about, something to do with them being able to put it on any equity in your house, then the loan is like a secured one. (just pannick at the slightest thing!!)

Just been looking at national debtline and the answers are there!!

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=15_charging_orders_in_the_county_court

Just in case anyone interested!
xx

Hiya,

Charging orders aren't new, they have been around for years!

If a creditor takes you to court and sucessfully applies for a CCJ against you, then they could also apply for a charging order at the same time.

This in effect makes the debt become secured aginst your home, in the same way as a mortgage or secured loan. Then, if you sell your home further down the line, you have to pay off the debt with the proceeds of the sale.

But this is only after your mortgage etc has been settled and there is still enough money left to settle this extra debt, so if you have little or no equity in your house, the chances of the creditor going for one are much slimmer.

It is possible however that the court would grant an immediate sale of the property to settle the debt if a charging order is sought, but it must be stressed that this is very very rare and in the current economic climate even rarer!

Hope i've not scared anyone with this! Remember, the creditor has to take you to court for a CCJ for this to happen and even then it is not automatic. Reading though this thread, it seems that CCJ's are becoming less common as creditors seem to be accepting our DMP's on the whole.

Also, if you dont own your own property, then this doesn't apply to you anyway!

Cocker:)

ianmak

Thanks again Cocker. I think it's a good thing to be reminded of these things, but as you state, don't panic! If it happens, it happens. A DMP isn't a 'get out' clause to debt, but a way of showing that you are struggling, but are committed to paying back your debt...

Some unscrupulous companies will try everything to get their money back, but it won't always be beneficial for them to do so...

The DMP is the best thing I could have done. It's taught me to finally budget, eat better, and to think twice about purchasing anything... so please don't let charging orders and things like that put you off!

newlywed

Scottishmummy wrote: »

I'm not seeing many of the original members here though - hello Newlywed - but plenty of new ones. I've only looked back over the last couple of days posts so I'll try and catch up with everyone over the next wee while and find out all your stories.

Glad to be back:rolleyes:

Hello - I think most of the older members have found a similar thing - sometimes you can think TOO much about your money issues and need a break - I know I only pop on here from time to time to answer anything that I think I can help on

I've paid 1/3 of my debt off now so feeling a bit better about it - but still wishing for the day the DMP ends so we can have a holiday

Daffykjs

Hi all,

Haven't managed to fully catch up yet. Been AWOL for a while!

Got a new fridge and luckily my dad gave me the money for it! Bless him, he's great!

But then got toothache and have been off work for a week (still have it but it's a lot better, it was the worst pain I've ever felt).

So my latest issue is what to have done to fix it as dentistry costs money! Think i've decided to have the blooming thing out to solve it once and for all! this is also the cheapest option (£45).

Then start saving for a bridge which you can't get til 6 months later anyway! (£300-£400)

Nightmare! and the first appointment i could get was 11th May! Not good!

Anyway DMP wise things are ok! Natwest o/d still charging and PP payment didn't even bring it back into the limit, still £2 over limit so i guess this is the start to it getting bigger and bigger. hope they take the hint soon!

Also, at least one of hubs' cards are still charging which irritates me greatly!

But hopefully these will get wiped or given back eventually when i try and claim! (I really should phone PP about it tho! just to check! not there's a lot i can do about it now!)

Also keep getting the odd call from hubby's creditors! None of mine phone anymore but his phone, ask if he's there, when i say 'afraid not' they just say 'ok we'll phone back another time! this really irritates me! why are they still ringing him!

Anyway welcome newbies! My first day back in the office today so off to try and do some work now! altho my concentration span is very very low today! and they are systematically blocking all forums i go on! hopefully they won't take this one away from me too!

Daffykjs

chancer63 wrote: »

Does any one know if becoming a student would affect a DMP? Thinking about going to UNI next year but most of my income would then come from grants and loans. Going to Uni would improve my working situation over all in the long term. O/H would continue to work full time and me part time - it is a joint DMP. Any advice would be great

No idea on this I'm afraid!

but if i was you I'd ring Payplan or CCCS or debtline and ask.

ladyday

Hi everyone

Everything is set up with CCCS for my DMP to start in May, I sent my token payments off a couple of weeks ago now but one cheque hasn't been credited. It's for Marbles credit card and I know they received my letter informing them about the DMP with the token payment enclosed as I sent it recorded delivery. Can anyone advise what I should do if anything ? I want them to credit at least a token payment for April but it looks like they are completely ignoring it. The payment due date is next week so I'm expecting phone calls then :rolleyes: Maybe that's their plan so they can harass me for not paying even a token amount. Should I write again ?

So far I've no idea if any of my creditors are accepting the DMP as I haven't heard a thing from anyone apart from one call from Egg about a cancelled direct debit.

DevonGirl

Hi Ladyday!;)

I don't have a Marbles credit cards but I'm pretty sure they are administered by HSBC, with whom I have an overdraft and loan. HSBC took ages to credit my token payments to my accounts, so I wouldn't do anything. At this early stage, you may just receive the cancelled direct debit letters.

I'm a DMP newbie, started CCCS DMP in 1st April :j - but it's only now that acceptances are trickling in from my creditors (2 accepted so far!) but nothing heard from the rest. And from what i've read on this site, that's pretty much normal.
Not sure if this will apply to Marbles, but HSBC have stopped phoning me and sent me an application form for a managed loan which I have ignored (too many horror stories about managed loans / CCCS advise against it / it's taking out more debt to pay off a debt etc etc....).

Hope this helps
DG xx

MRSG2B_2

DevonGirl wrote: »

Hi Ladyday!;)

I don't have a Marbles credit cards but I'm pretty sure they are administered by HSBC, with whom I have an overdraft and loan. HSBC took ages to credit my token payments to my accounts, so I wouldn't do anything. At this early stage, you may just receive the cancelled direct debit letters.

I'm a DMP newbie, started CCCS DMP in 1st April :j - but it's only now that acceptances are trickling in from my creditors (2 accepted so far!) but nothing heard from the rest. And from what i've read on this site, that's pretty much normal.
Not sure if this will apply to Marbles, but HSBC have stopped phoning me and sent me an application form for a managed loan which I have ignored (too many horror stories about managed loans / CCCS advise against it / it's taking out more debt to pay off a debt etc etc....).

Hope this helps
DG xx

I too started on 1st April, and have received the stuff from HSBC for a managed loan....spoke to a lady on the phone when they rang and told her I would not be taking this up, then got a comedy letter the other day chasing me about the forms with the comedy line "it would be helpful if you could respond as soon as possible." I'm going to write back to say I won't be taking it up.

Only had 1 actual acceptance letter so far from Next, however I know most creditors are now in receipt of my token payments/notifications now as my online access has been amended/cancelled. Any letters I've been receiving I've been replying to with a duplicate of the notification letter.

The key I think is just not to panic at the moment, all we can do is pay what we have, if we haven't got it they can't have it:p

DevonGirl

I too started on 1st April, and have received the stuff from HSBC for a managed loan....spoke to a lady on the phone when they rang and told her I would not be taking this up, then got a comedy letter the other day chasing me about the forms with the comedy line "it would be helpful if you could respond as soon as possible."

:rotfl::rotfl::rotfl:

Hey MRSG2B - I got the same comedy letter yesterday! Gave me quite a laugh in the midst of my money worries.:D

AmyV_2

Hi there, I haven't been on here for a very long while! Mainly because I was making myself more and more depressed by keep reading everything - even though people on this thread were a tremendous help to me. However, I am afraid to say I need some more help again.

My husband is on a DMP and has been on one for about 18 months, the early months were very hard dealing with a few unsavoury Creditors, but on the whole it was okay, and we got through it and everything has been running smoothly for the past year :-)

However, one has recently told him they will no longer accept his DMP and threatening a Charging Order which I understand due to new legislation (is it out yet?) they can now go for without the need for a default on a CCJ. He hasn't even had a CCJ from them yet so seemingly going for the option which will get them best security.

CCCS advised him to request his credit agreement and statement of account under the Consumer Credit Act 1974 [sections 77-79]. Today he received in the post his original signed Credit Card Application. (no statements as yet but they said they are on their way) I was reading another thread which said certain criteria had to be met for the agreement to be enforceable, but the application is just the standard one you sign when you join up to a card so contains none of it. So can it still be deemed enforceable?

My husband does not want to cease paying the debt, he just wants to stop them going as far as a Charging Order, but would the Court allow the Charging Order based on the Credit Card Application?

Thanks for any advice you can give!!