Anyone organising their own DMP?

Kudox

Hi Cornish Maid i replied to you a little while ago over onthe DMP support thread, about this, I have tried to organise a DMP for OH because while CCCS accepted me for A DMP, his situation regarding finance is very complicated, and erratic.
I have had some success but MBNA and Intelligent Finance have been horrible to deal with, IT have said they will pass the debt onto a DCA even though we have been making the rduced payments for some months now.
IT also said they couldn't reduce interest etc without us going through CCCS so it's interesting to read others have had that response too.
As it is we continue to pay the reduced payments each month and hope eventually they will come round.
Good luck with yours, I think the thing to remember as always is they can't have what you haven't got

Jinx

Hi Boo

I have organised my own DMP for the last 4 years after finding this site! I basically wrote to all my creditors telling them I could no longer afford the payments and broke all my agreements (unsecured credit cards).

I gave them a statement of affairs as well as a breakdown of the monies owed and the percentage of the available cash I had that they would receive. All (eventually) agreed and froze interest to boot. They are all paid monthly by recurring online payment.

Being self employed for 18 months I continued to pay the creditors but as my finances hit the deck I paid them all token payments of £1 a month. Again basically writing to them to let them know and just doing it.

I did change my phone number so they couldnt harass me that way and I do get monthly letters from them all. A couple have passed the debt to debt collection agencies so I just write asking for their account details and amend my recurring payment.

I've waffled on, apologies, but just to say the companies aren't too bad to deal with once you get started and they really cannot have what you dont have!

Jinx x

boo80

Thanks everyone who has contributed to this thread, it's so good to know there are other people who have or are going through the same things!

I got a letter from Lloyds yesterday regarding my £1200 overdraft and they have agreed to reasonable repayments but are still charging me 19.28% per annum interest, anyone have any tips on how I can get them to freeze it?

This is only the 2nd letter from my 5 creditors (although 3 of them are Lloyds) and the 1st one (MBNA) where great and said they'd freeze it without me even asking so I guess I was hoping it would all be that easy!!

RIANNA30

We have been on a DMP for 9 months with CCCS but decided to go it alone last month. I found that during those 9months all CCCS really did was forward the payments, I still had to deal with all the creditors although it did feel better being able to give them a cccs ref number. I also found that I was being charged late payment fees by several creditors as payments were not reaching them by the agreed dates so in some cases the debts were increasing.

I'm yet to see any fallout from leaving cccs, all the creditors have been paid there normal amount this month, just a bit earlier, my concern is that when they realise that I'm no longer with cccs, they may start hounding me for more money, I'll have to just wait and see!

If you are going it alone, it would be probably be good to use the debt remedy plan on the cccs website, it's a real insight on how much you're allowed for expenditure on certain items and would probably help when you need to send an I&E to creditors.

Jinx

I totally agree with Rianna30, I had a look at the statement of affairs on here... it helps remind you of the insurances you need and haircuts etc.

I included some spends for my child in the form of pocket money and hobbies and when queried/told unnecessary by one creditor I basically argued the toss! They seem to accept 'sensible' figures and won't take you to court over a few pounds they deem incorrect in your budget.

With regard to your overdraft Boo, I got rid of that first, giving it preference (although you are not supposed to favour one creditor over another) as I couldn't get them to stop interest, whereas credit card companies did. Maybe someone else knows the magical answer...

debtfreeian

This is a timely thread for me. I work for a bank and don't necessarily want to go with CCCS as I have two overdrafts with my employer. Thanks for the info so far.

boo80

Jinx wrote: »

With regard to your overdraft Boo, I got rid of that first, giving it preference (although you are not supposed to favour one creditor over another) as I couldn't get them to stop interest, whereas credit card companies did. Maybe someone else knows the magical answer...

Thanks Jinx, I was going to try to make an F&F offer to one of my loans 1st as it's the lowest amount, but they have frozen the interest so I think you're right about tackling the OD 1st. Now where to find £1200... :rotfl:

boo80

Good luck in getting Debt Free Ian! We'll do our best to help you. Boo.x

boo80

Grrr! :mad: I sent my SOA and offer letter to Capital One on the 30th of last month, haven't heard back from them so called to chase last week and they said I should hear from them this week. I made my payment which was slightly over what I'd offered them as I hadn't heard back and now they've just rung me and said if I don't pay £63 in the next few days they are going to default me!!! I explained about the letter and call I'd made to them last week and she said oh yes, that is on the system, when can you make this payment? :mad: :mad: Do they think I just have loads of extra cash laying around???

scruffypet

i having beendealing with my creditors since december and some still havnt agreed on a plan. Barclaycard phoned me 57 times last week even though i have an verbal agreement with them, all because i paid my monthly amount on the 31st March instead of 1st april. they said that it could not be counted as the april payment but was an extra march one. I tried to explain that i didnt want to miss the payment date but they couldn't grasp the concept.
I do get really fed up with constantly having to deal with the creditors who seem to phone even if i have an agreement with them, they always seem to be trying to get more money, however most seem genuinely helpful at times.