DMP Mutual Support Thread (Part 5)

Eupho

Oh.. just got something pretty similar from Capital One (they of 30.340% interest rate) ..too.. :rolleyes:
(tho it was a teeny bit more friendly) :rotfl:

CharliesAngel

Afternoon All

Hope you're well... after my last failed attempt at a DMP I have now risen to the challenge and posted my forms and notifications off. I'm feeling more positive this time, although the prospect of being harangued by MBNA at every opportunity fills me with dread (will dig out the template letter later just in case!) but if they will make my minimum payment less than the interest they charge each month then I'll never repay it (computer has said no on several occasions when I've requested they reduce interest). There are three other creditors to deal with so I'm getting in the 'short thrift' mood.

Anywho... now member 101 is back in action so to speak (and ohmigod where did the other threads come from!) it will be fab to catch up with you all...

CA x

bigmommamuppet

Hi Eupo

Your not the only one who gets confused with all the termiology :rolleyes:. My understanding now is that everytime a creditor adds a charge to your account for missed/late payment they need to issue with a default of sum notice stating the charge and that they can't add interest for the 1st 28days. So these letters a fairly standard and I have had a few of them. A default notice is more offical and is used to 'close' your account as you've breached the T&Cs, this usually allows for your account to be passed onto a DCA.

Becks.

Eupho

CharliesAngel wrote: »

Afternoon All

Hope you're well... after my last failed attempt at a DMP I have now risen to the challenge and posted my forms and notifications off. I'm feeling more positive this time, although the prospect of being harangued by MBNA at every opportunity fills me with dread (will dig out the template letter later just in case!) but if they will make my minimum payment less than the interest they charge each month then I'll never repay it (computer has said no on several occasions when I've requested they reduce interest). There are three other creditors to deal with so I'm getting in the 'short thrift' mood.

Anywho... now member 101 is back in action so to speak (and ohmigod where did the other threads come from!) it will be fab to catch up with you all...

CA x

Hellooo CA :wave:

Well Done for getting it moving! :T ... I was so scared of all my creditors at first.. now.. most of them are just making me angry. haha!.. I'm TRYING to be nice to them.. but some of them are just mean and unhelpful.. :: sniffs ::

haha :wave:

saskia1

Afternnon all

welcome back charlies angel (fab name btw)

Eupho - you are hilarious!! but i would think the same - defaut notice / notice of default - cannot wait till i start getting them

your right about looking fwd to the post - i see it like a real challenge - see who has bothered to contact us - i seem to be geeting no calls from my cc people- but then i realised since taking out the cc - i have moved so they haven't got my number! hee hee

last night before the Apprentice i had to sort out more p/work - basically got ready all my next 'token' payments before cccs make offers - i think our first payment with cccs won't be till Aug 1 - so am sending off v small payments to make the cccs offers look good - is that mad?? but you know what - i'm playing these people at their game - bring it on!!:rotfl:

am sooo bored at work today - have fri & mon off and cannot wait for 5.00pm!!!!

sas

kew63

Found this for you:

Minimum 14 days after Default notices
The new minimum period after which a creditor or owner may take action (in respect of the agreement after having issued a default notice) is now 14 days. It used to be only 7 days. Section 14 CCA 2006amends section 88 of the 1974 Act to create this extension.

So 5 days is way out, does say though that Default notices are getting pretty serious and will stay on you Credit record for 6 years.

If you Google Default notice of sums you'll pick up several threads on other forums (sorry !!) that maybe of help.

Good luck anyway - fingers crossed

DevonGirl

Hi Sas - we are in a parallel universe!!!
I too was doing financial paperwork before the Apprentice last night (didn't want to miss those interviews!) and am now at work, bored and desperate for 5pm!!! :rotfl:

With regards to your token payments, go really low would be my advice - I sent £1 payments which were accepted. As you know, working in a bank yourself, it's all computerised, so even if you pay 1p less than the minimum regular payment, the default system kicks in and you'll get letters, e-mails and phone calls! So like you say, bring it on!!! :j

Have a great long weekend!
DG

Eupho

bigmommamuppet wrote: »

Hi Eupo

Your not the only one who gets confused with all the termiology :rolleyes:. My understanding now is that everytime a creditor adds a charge to your account for missed/late payment they need to issue with a default of sum notice stating the charge and that they can't add interest for the 1st 28days. So these letters a fairly standard and I have had a few of them. A default notice is more offical and is used to 'close' your account as you've breached the T&Cs, this usually allows for your account to be passed onto a DCA.

Becks.

Oo thankyou Becks!

Speaking of charges.. I was just looking on the back of the Hitachi Capital letter..
It's 'List of Charges'

of which include:

Telephone call in respect of late payment: ~ £10 (!!!)
Default Notice ~ £50 (grrrrrrrrr)
Transfer of your account to a DCA ~ £50 :mad:

Change of 'method of payment' £25.. bloody hell!

cheeky swines.. as if ANY of that costs that much.

Eupho

saskia1 wrote: »

Afternnon all

welcome back charlies angel (fab name btw)

Eupho - you are hilarious!! but i would think the same - defaut notice / notice of default - cannot wait till i start getting them

your right about looking fwd to the post - i see it like a real challenge - see who has bothered to contact us - i seem to be geeting no calls from my cc people- but then i realised since taking out the cc - i have moved so they haven't got my number! hee hee

last night before the Apprentice i had to sort out more p/work - basically got ready all my next 'token' payments before cccs make offers - i think our first payment with cccs won't be till Aug 1 - so am sending off v small payments to make the cccs offers look good - is that mad?? but you know what - i'm playing these people at their game - bring it on!!:rotfl:

am sooo bored at work today - have fri & mon off and cannot wait for 5.00pm!!!!

sas

haha helloo Sas :wave:

I honestly wouldn't send them more than £1 each until your DMPs 'real' payments are up and running. They just need something to show that you are making payments (every month) .. £1 is the min. they DO take it.

Post, yep!.. I had a heap this morning..and was quite hopeful.. but most of it was just boring bits.. :rolleyes:

Like you.. I am tryyyying to see this as a challenge. Just has to be done doesnt it.. whether we want to or not. Its going to happen.
So.. may as well be on the ball and come out all guns blazing instead of freaking out and letting it happen around you.

The worst its over now.. (kind of) .. We've done the hardest part.. now we just have ride out the storm.
Which one day.. will take us all to the beautiful island of *Debt FREEE!*

Soo.. deep breathes.. brace 'yaselves' .. and dive in!
:rotfl:

:rolleyes:

Eupho

DevonGirl wrote: »

Hi Sas - we are in a parallel universe!!!
I too was doing financial paperwork before the Apprentice last night (didn't want to miss those interviews!) and am now at work, bored and desperate for 5pm!!! :rotfl:

With regards to your token payments, go really low would be my advice - I sent £1 payments which were accepted. As you know, working in a bank yourself, it's all computerised, so even if you pay 1p less than the minimum regular payment, the default system kicks in and you'll get letters, e-mails and phone calls! So like you say, bring it on!!! :j

Have a great long weekend!
DG

Yeaaah!! Whoop! Whoop! :T

:wave: Hellooo DG