Anyone organising their own DMP?

gargrave50

tessy_t wrote: »

Hi all, I have been out of the loop for the last 6 weeks as have been trying to find a job, which I now have at last! so in the meantime I have managed to keep up communication with my creditors, though I am in a similar position as Kat as Barclaycard have now sent my details to a debt collection agency. Why is this good?? and what should I now do?? should I write to the debt agency or to Barclaycard? so far I have only Halifax and Santander who have accepted my offer of payments, the other are still charging me and asking me to pay the outsanding payments in full. I spoke to capital One yesterday and offered to pay the the full outstanding amount which is the smallest debt of around £200 if they would refund all charges, they point blank refused! should I make this offer in writing?

Thanks in advance for any help:)

Hi Tessy

First of all congrats on the job :j- I would imagine its a super tough time of year to find a job even when the country is not drowning in recession!

The reason its good for debts to be passed to a debt collector is because, as a rule of thumb DC's are more likely to stop charges when requested and accept a realistic payment schedule offer. This is because they usually purchase the debt for a small % of its original cost, therefore they have more room to manoeuvre in terms of what they can accept because overall they will still make a profit :cool:.

I wouldn't make any offers by telephone, do everything in writing. Sometimes it is given more consideration, but more importantly, it gives you a paper trail. Make the offer in writing, and don't back down. Continue to pay what you can afford. Well done:money:

tessy_t

Thanks so Much Gargrave, much needed reply! this thread has been really helpful through this process:)

gargrave50

tessy_t wrote: »

Thanks so Much Gargrave, much needed reply! this thread has been really helpful through this process:)

Keep at it Tessy, and don't forget to post to let us all know how it turns out:D

Ellieseleven

I'm trying to organise my own DMP as OH is self-employed. So far I have only written to MBNA to say that I am having financial problems and have offered a token payment of £50.

They have cashed the cheque and have now written back to me to say that they appreciate that we are having financial difficulties but in order to gain a better understanding of our position they require:

• our monthly income
• our monthly expenditure
• names of all our other creditors and balances outstanding

A restriction has been placed on the account (I haven't used this for around 18 months) and they have asked that I cut up the card and return it to them. I cut the card up long ago so no longer have this.

They have asked that I telephone to discuss but is it better to reply to them in writing? Do I also send them our SOA (I completed one on make sense of money and also on CCCs website)

I haven't missed any of our other credit cards but have been using credit cards to pay credit cards which has to stop so I understand that I need to write to each one individually to explain our situation?

Also I'm struggling to understand what I need to do about my hubby's business account which is with the same bank as our current account and if I move the current account will they then dip into the business account?

I signed the first letter to MBNA and read something about not signing but only printing our name... should I be doing this on any correspondance?

Stress is killing me and I am finding it difficult to take the step of writing to everyone although I know that it is the right thing to do!

Sorry for all the questions but need to understand what to do next

Thank you all

gargrave50

Ellieseleven wrote: »

I'm trying to organise my own DMP as OH is self-employed. So far I have only written to MBNA to say that I am having financial problems and have offered a token payment of £50.

They have cashed the cheque and have now written back to me to say that they appreciate that we are having financial difficulties but in order to gain a better understanding of our position they require:

• our monthly income
• our monthly expenditure
• names of all our other creditors and balances outstanding

A restriction has been placed on the account (I haven't used this for around 18 months) and they have asked that I cut up the card and return it to them. I cut the card up long ago so no longer have this.

They have asked that I telephone to discuss but is it better to reply to them in writing? Do I also send them our SOA (I completed one on make sense of money and also on CCCs website)

I haven't missed any of our other credit cards but have been using credit cards to pay credit cards which has to stop so I understand that I need to write to each one individually to explain our situation?

Also I'm struggling to understand what I need to do about my hubby's business account which is with the same bank as our current account and if I move the current account will they then dip into the business account?

I signed the first letter to MBNA and read something about not signing but only printing our name... should I be doing this on any correspondance?

Stress is killing me and I am finding it difficult to take the step of writing to everyone although I know that it is the right thing to do!

Sorry for all the questions but need to understand what to do next

Thank you all

Hi, welcome and thanks for posting - that takes guts:o

First of all - how did you come to the figure of £50. An offer needs to be calculated on your income vs the affordable amount available each month to repay all of your debts - and then worked out as a pro-rata amount.

Why don't you post your SOA? That way we can help you to calculate these figures, and possibly reduce your expenditure further to increase the money you can throw at reducing your debt.:D

Ellieseleven

Thanks for the reply:T

I have already posted my SOA and been given advice as to where we can cut back, which I have been doing.

I sent £50 as this was all we could afford this month but I have been on CCCS and pro-rata the amount works out to £52

The lady at CCCS was very helpful regarding OH being self-employed and if we go down the DMP route then we will have to move the business account as well but as we are only depositing cheques and using it for DD's a basic bank account may do just as well. We just want to keep the business incomings/outgoings separate from our current account.

I'm on holiday from next week so will have time to sit down and plan our next course of action.

I have sent a reduced payment to Barclaycard with a letter explaining our situation but they are ringing us constantly, we have caller ID so I haven't answered the phone to them (I'm not that brave yet!)

I might be able to take a lump sum out of my pension pot as I'm over 50 and have 3 pensions. This would give us a decent amount to pay off some of our debts. I have transferred one of the pensions into my current employers pension, this gives us £50 per month extra and the pension was not giving a good return anyway.

boo80

Does anyone have any advice on getting a debt moved to collections? Lloyds have moved my (I think) loan to their collection department which has stopped the interest and they've been a pleasure to deal with and offered really reasonable repayments. I'd love to get my Lloyds CC moved there too as they are horrible and pushy and won't accept my offers so I've stuck my head in the sand a bit If it went to the collections department it would make life easier. Any advice?? TY, Boo.x

funkyfish586

HI sorry to bump but i am looking for some advice. We have been with payplan for a year & want to go alone now, as everything is set up & most have accepted the DMP. What should i do? shall i write to them & explain our reasons for going alone & ask for bank details to pay them?
x

Triggles

Has anyone on here been dealing with Santander at all? We have a credit card debt through them, and they literally flooded us with paperwork a few months past - I'm pretty sure it was done incorrectly as we received post from them literally DAILY for over a month, and about half of them were default notices - all for the same account!! The amounts varied slightly, but when we send letters to them, they basically don't bother to answer. I'm pulling my hair out on this one, truthfully. Now they're refusing our SO payment, so it's bounced back to us. I'm thinking of sending the CCA request as well as filing some type of complaint regarding the 12-15 or so default notices they sent, which IMO is rather excessive! I'm not sure where best to send the complaint to for this, however. Any ideas?

I'm going to try once again to get a reference number (not the online "bring up your file" number) from CCCS. I've sent them three emails asking for the self-help pack and a reference number, and I've gotten two error messages saying they're having system problems and then another one I didn't get the error message, but never got any response either. A bit frustrating, really. This was a few months ago, so maybe I'll give it one more go.

Our creditors haven't accepted our terms of payment either, and all are still charging interest and fees. Although one (MBNA) said they would, then didn't on the next statement, and promptly defaulted anyway. :mad: I look forward to the day when all this petty nonsense is done and we can simply make monthly payments without all the hassle. If such a thing exists. LOL

inamess_man

can anybody please help with the basic steps on setting up youer own dmp?

cccs cant help im afraid

thanks a lot