Anyone organising their own DMP?

gargrave50

Time to write a grovelling letter to Next as my "what the furk - haven't you read my freekin letter" letter will have crossed in the post with their "thanks Mrs G - happy to accept your reduced payments and we won't charge you anymore nasty interest for 6 months" letter! Oops.

gargrave50

Forgot to say I did point out in my "please reconsider" letter to Next that if they continued to apply service charges / interest at the present rate it would take me 17 years to repay the balance at the agreed amount. However if they freeze interest then the debt would be repaid in full in 4 years. I don't know if this is worth including in letters to persuade creditors to freeze interest?

Elstree20

Hi there

Sorry if you have seen this elsewhere but was advised to post here instead. Some very useful info on this thread but I still have a couple of queries and wondered if anybody could help?

I am currently trying to sort out my own DMP and so far most of the creditors have been fine with reduced payments with the exception of Egg and MBNA.

I owe circa £10K ea to both of them and have offered £50 per month for 6 months and asked for a review after that with the possibility of increasing payments.

MBNA are determined to get me to call them to discuss my SOA as they want higher payments . They have even phoned my work on 4 or 5 occassions which is a little embarressing . I have asked them to put their queries in writing but have not had a reply to that. In the meantime I have kept up the monthly payments which they have cashed ( 3 so far)> ( I note now that there seems to be a calculation as to how much they accept which is a little higher than I have offered (£82.00).

Egg have not responded to any of my letters barring issuing me with a default notice and lots of we cannot get hold of you etc etc and now I get a letter from Moorcroft demanding the full amount otherwise off to court we go. I have read up on Moorcroft and the general advice seems to be ignore them and/or send them a CCA demand letter which I have done on Friday. I have continued making the monthly payments to Egg and they have just cashed the last one this week even they had supposedly handed this over to Moorcroft last week.

Am I doing the right thing so far and is there anything else I can do?? or should I just wait for the summons from court.

debt_obsessed

I've just got off the phone to Cabot who have 2 of my debts (MBNA and Capital One) - don't know if anyone else has experience with them, but I found them really helpful. Explained that I'm taking control back of my own DMP and negotiated new payments with them. They're even freezing the interest!

They did push to see if I could afford more than I was offering but I stuck to my guns and that was that!

I've been avoiding their call for a week now but am so glad i've spoken to them as my balances were also lower than I expected!

gargrave50

Elstree20 wrote: »

Hi there

Sorry if you have seen this elsewhere but was advised to post here instead. Some very useful info on this thread but I still have a couple of queries and wondered if anybody could help?

I am currently trying to sort out my own DMP and so far most of the creditors have been fine with reduced payments with the exception of Egg and MBNA.

I owe circa £10K ea to both of them and have offered £50 per month for 6 months and asked for a review after that with the possibility of increasing payments.

MBNA are determined to get me to call them to discuss my SOA as they want higher payments . They have even phoned my work on 4 or 5 occassions which is a little embarressing . I have asked them to put their queries in writing but have not had a reply to that. In the meantime I have kept up the monthly payments which they have cashed ( 3 so far)> ( I note now that there seems to be a calculation as to how much they accept which is a little higher than I have offered (£82.00).

Egg have not responded to any of my letters barring issuing me with a default notice and lots of we cannot get hold of you etc etc and now I get a letter from Moorcroft demanding the full amount otherwise off to court we go. I have read up on Moorcroft and the general advice seems to be ignore them and/or send them a CCA demand letter which I have done on Friday. I have continued making the monthly payments to Egg and they have just cashed the last one this week even they had supposedly handed this over to Moorcroft last week.

Am I doing the right thing so far and is there anything else I can do?? or should I just wait for the summons from court.

Send of the harrassment by telephone letter (underneath) and send it by recorded delivery. Once delivery has been confirmed if they continue to phone lodge a complaint as threatened in the letter.

Harassment by telephone

Account Number: XXXXXXX

I am writing in relation to the quantity and frequency of telephone calls that I have received from your company, which I deem to be personally harassing.

I have verbally requested that these stop, but I am still receiving calls. (Delete if necessary)

I now require all further correspondence from your company to be made in writing only.

I am of the view that your continued harassment of me by telephone puts you in breach of The Consumer Protection from Unfair Trading Regulations 2008, and the Protection from Harassment Act 1997.

If you continue to harass me by telephone, you will also be in breach of the Communications Act (2003) s.127 and I will report you to OFCOM, Trading Standards and The Office of Fair Trading, meaning that you will be liable to a substantial fine.

Please treat this also as a formal complaint, and send me a copy of your company complaints procedure.

Be advised that any further telephone calls from your company will be recorded. (**Even if you don‘t yet have recording equipment!!**)

Yours faithfully,

Write to them again emphasising that contact must be made only by telephone and reiterating that this is the maximum you can afford. If you cannot pay any more don't agree to increased payments purely because you feel they are pressurising you. At the end of the day if you agree to payments you can't afford, you are unlikely to be able to sustain this. Try this letter.

Dear Sir / Madam ,

Re ACCOUNT NUMBER:

Thank you for your letter of xx/xx/xx concerning the above account.

I/We am/are are sorry that you feel unable to accept the offer have made. The majority of my/our other creditors have accepted the offers made to them and I/we have commenced payments.

I/We cannot offer you more because I/we can only afford £x per month between all the other creditors, and it would be wrong to cease or reduce payments to all other creditors in favour of your company. The offer made to you is on a pro rata basis, as used by the county court.

In the light of the other creditors agreeing to my/our repayment plan, please would you reconsider my/our offer. I/We will be making the payments in line with the offer to your company, on a weekly/monthly basis, as a gesture of goodwill.

I/We look forward to hearing from you as soon as possible.

Yours faithfully
Name(type don't sign)

gargrave50

debt_obsessed wrote: »

I've just got off the phone to Cabot who have 2 of my debts (MBNA and Capital One) - don't know if anyone else has experience with them, but I found them really helpful. Explained that I'm taking control back of my own DMP and negotiated new payments with them. They're even freezing the interest!

They did push to see if I could afford more than I was offering but I stuck to my guns and that was that!

I've been avoiding their call for a week now but am so glad i've spoken to them as my balances were also lower than I expected!

Well done debtobsessed, although it is generally recommended to conduct negotiations in writing only to ensure you have an accurate record. However, looks like it worked out well for you, well done for sticking to your guns.

Once you actually get into the idea of a self admin DMP the feeling of control is amazing :T:T:T

Karen_30

This thread is proving so useful and ever growing

Just to update took over my own dmp after a year or so with payplan. Made first payments early July and to date no issues or problems...only wish i had done it sooner :rolleyes:

Did have a bit of a hoo ha with Payplan via email - i'm sure it was just my caseworker as has proved difficult but to put long story short.....stated that she didn't think that I would be able to manage it myself and it won't be long until I need her help again.....:eek: :eek::eek: I was in total shock and have now written a complaint as do not feel that was a professional response. It has made me more determined than every now!

Can't wait to read some more positive updates :Dxx

debt_obsessed

gargrave50 wrote: »

Well done debtobsessed, although it is generally recommended to conduct negotiations in writing only to ensure you have an accurate record. However, looks like it worked out well for you, well done for sticking to your guns.

Once you actually get into the idea of a self admin DMP the feeling of control is amazing :T:T:T

Thanks - I had initially written to them, then I called to chase to see if they got my letters. I've asked them to send confirmation of my balance and my new arrangement through the post, said I should expect it in the next couple of days :T

gargrave50

Hi Karen 30, I'm so glad others are finding the thread useful. I find it really beneficial to share my DMP experience with others who are in a similar boat. It's a great feeling knowing that you are not the only one trying to make head way into your debts! We can all really benefit from each others experiences.:)

gargrave50

Morning all, lets see what glorious news the postman brings me this morning:rotfl::rotfl::rotfl: