Anyone organising their own DMP?

boo80

Whoop, that's good news Lois! I hope the others come on board very soon. I have no idea about credit files etc.. far too scared to look at mine lol! x

susieanne

I am not 100% on credit files but my understanding is the debt only goes from your credit file 6 years after the debt is paid off .(whether it be paid off in full or with a F&F settlement figure)

I have been on a DMP with Lloyds for 12 months ,lloyds have accepted my offer for a full & final settlement :ji have 3 weeks to make the payment .Lloyds told me after i have paid the settlement figure it will be 6 years before it comes off my credit file .

SerenaGoode

keithboy40 wrote: »

I have taken support from this post. I am considering going it alone. I have debts of £44,000 and have £420 free for creditors every month. Is this enough.

Do i ring my creditors at the start and tell them my problems in paying or do i send a letter first and wait for the calls.

Keith,

I have £58K and am paying £400 a month and it's been OK so far, so you should be OK.

The National debtline pack is very helpful - basically I wrote to them all with the standard letter and an income and expenditure form, and immediately changed all my payments to what I could afford. Most proceeded to ignore the letter and it took some phone calls to make any progress. MBNA are still being total pains so I have stopped paying them in the hope of getting it passed to DCA so I can get the interest frozen. All the others have been OK although there is a tendency for backsliding - just when it all settles down one of them decides to start paying interest again. But overall it is great to feel like I have some control and the more you deal with even the most awkward ones the more you realise they are full of bluster but understand that what you are offering is what a court would impose if it ever made it that far.

Good luck. It's stressful, but far better than watching debts get out of control.

SerenaGoode

boo80 wrote: »

If you're not sure what the balances on the accounts are the 1st thing you should do is call the creditors to check, otherwise it makes working out your payments almost impossible, then work out your pro-rata payments and send your offer letters along with a copy of you I&E. You may also want to check if the companies want any extra info as Cap1 said they can't start mine until they have proof of income etc...

Maybe they can't start it - but you can start it whenever you want by simply letting them know you can't pay and making the change.

Be wary of all this proof of income and additional questions. It is often a delaying tactic or a way of trying to find holes in your argument. In the end if you tell them you can't afford to pay them there is no reason for them to ask for proof of this.

debrag

I've decided to send them all letters with the balances I have which doesn't include any interest since March 2006 asking for them to remove anything that has been added.

boo80

Let us know how you get on Debrag

Lois_and_CK

Got a letter off one of my creditors today:

"Unfortunately I'm unable to action your request because you have not signed the letter you sent to us. Please send in your letter again with your signature on."

Now what? The advice on here always seems to be don't sign the letters?

Stalling tactic? :rolleyes:

PJ_one

Hello All
Thank you for a first class thread. It has encouraged me to confront my problems (savings gone and 80% less self employed income) by writing to creditors and offering one third normal payments.
I by nature would prefer to deal direct with people and so hope to avoid the good works of NDL etc.
Not sure if this will work for me but folk here have given me strength to try.

Will check back on this thread.

Peter

boo80

Lois_and_CK wrote: »

Got a letter off one of my creditors today:

"Unfortunately I'm unable to action your request because you have not signed the letter you sent to us. Please send in your letter again with your signature on."

Now what? The advice on here always seems to be don't sign the letters?

Stalling tactic? :rolleyes:

Capital One did the same to me!! I printed my name and they said they couldn't start dmp because of it! Didn't even let me know, I phoned to chase and then they told me (after about 2 weeks). I have signed as felt I had no choice and now waiting to see what happens.

boo80

Good luck Peter, I hope they are kind to you! Please post again and let us know how you are getting on and if you need any advice or to moan!!