DMP Mutual Support Thread (Part 6)

mozzyc

mozzyc wrote: »

Hi Guys

Been reading all the posts, and must say, after being on DMP for almost 5 years, i'm still learning so much every day.
I'm still battling away with Lloyds TSB for the interest to be frozen. The last phonecall, the guy reckons "The plan is going fine"!!! I could've screamed.
Yes i said, its going fine for you, but you know as well as we do that if it carries on like this, we'll be paying you for the rest of our lives without ever clearing it!
With £1000 interest added to the loan debt in 6 months, who can compete with that. So we just said for them to expect another letter from us soon. grrrrrrrrrrrr

Next on list is the letter of complaint to there complaints department.
After that, letter to OFT.

One question though, has anyone fallen pregnant whilst on there DMP, and had to reduce payments.
To cover maternity clothing, maternity leave and all the general and added costs of having a child.
Or is there only a set time for how long you can offer reduced payments.

Thanks

Hi, sorry to push on guys, but does anyone have an answer to my question above? Thank-you

Plain_Stupid_45

hi everyone,

Can anyone help or advise me please, I have 7 (I know!!) JDWilliams group accounts. I've had letters off them all today accepting the payment offers through Payplan providing I make a payment to them every 28 days!! Now I'm in a spin, I get paid on the 27th & my payment goes to Payplan on the 28th & then it's distributed out. Therefore they are not going to be paid every 28 days! I rang Payplan they said they've never had that happen before! I rang JDWilliams group who said that I would be in default if the account everytime I didn't make a payment every 28 days & that Payplan would need to make them a new offer everytime that happened! Has anyone had this happen to them, will it be ok to make monthly payments, they also said they would add charges everytime I defaulted on the 28 day agreement, help? Any advice please??

yidi

Hi everyone,

Just made my first payment to cccs and waiting for them to pass it on. So far not one of the 14 creditors have aggred in principle to the amounts but still hopefull. Barclays served termination notices today on mine my wifes and our joint accounts and are demanding full and immediate repayment on the 19th. Nearly £4000 which i havent got and intrest will be incurred daily until its repaid.
They are threatening to transfer the debts to a recovery unit as well if we dont pay up.

Whats the best course of action here? My wife is very worried and some advice would be helpful.

Thanks

DevonGirl

yidi wrote: »

Hi everyone,

Just made my first payment to cccs and waiting for them to pass it on. So far not one of the 14 creditors have aggred in principle to the amounts but still hopefull. Barclays served termination notices today on mine my wifes and our joint accounts and are demanding full and immediate repayment on the 19th. Nearly £4000 which i havent got and intrest will be incurred daily until its repaid.
They are threatening to transfer the debts to a recovery unit as well if we dont pay up.

Whats the best course of action here? My wife is very worried and some advice would be helpful.

Thanks

Hi Yidi

Congratulations on starting your DMP! I don't know all the answers only having been in my CCCS DMP since April, but I do know that while the first few months can be a bit bumpy, chances are you may grow to realise that taking control of your debts and entering into a DMP was the best thing you could have done. It really does stop some of the constant worrying that (I at least) felt beforehand, when I was constantly borrowing off one creditor to pay another and it was a big financial mess!

You may not hear from some of your creditors at all. Cahoot is one of mine and they have simply accepted the amount sent to them by CCCS and stopped my interest without so much as a phonecall from them! Others will accept the DMP in due course, and others just won't play ball, but that's just the way it goes!

I think your termination notice from Barclaycard is par for the course. They know that you can't just make £4000 appear out of thin air, but like to send out these final demands anyway. You can contact them to explain you're going into DMP or just wait to see what their next course of action is. If they do refer you to a debt collection agency (DCA) it may actually be a good thing as they're more likely to accept your reduced payment than Barclaycard, so try not to worry. Ring CCCS on the existing customer number and I'm sure they'll reassure you.

Finally if you take some time to read through both the DMP thread and the DFW forum, you'll see that others are going through pretty much the same thing, and there's plenty of great advice available, so you really aren't alone in this.
Hope things get better!
DG

newlywed

mozzyc wrote: »

Hi, sorry to push on guys, but does anyone have an answer to my question above? Thank-you

I haven't any experience sorry, might be worthwhile asking payplan/cccs the question as they may have more advice.

But... the whole point of a DMP instead of an IVA is that it is flexible - not written in stone like an IVA can be. It is meant to allow you money for bills and to live, and then the remainder given to your creditors.

Therefore, if you lost your job/had to reduce hours, they would do a budget update for you and adjust things so that you can pay your essential bills. Assuming your increased costs still stayed within the budget allowed (and presumably your food bill could increase as soon as the baby comes), then I suppose they would adjust your budget according.

I have reduced my DMP payments twice so far (in 2 years) mainly because costs are increasing and my wages haven't. Most creditors have been ok. The only one who is a bit of a pain is Firstdirect - and they are the ONLY ones charging me interest too :rolleyes: They usually quiet down after a couple of months of the changed payment though.

WorriedofSurrey

Hi

Hope everyone is doing OK on their DMPs. Has anybody had any joy with Intelligent Finance (Halifax) on freezing interest? I've just got a statement this morning and they are still charging interest and adding late fees and over limit charges each month. Next month's estimated interest looks to be more than I pay via CCCS, so the debt is still building instead of reducing.

Thanks
WoS

sandalwood_2

mozzyc wrote: »

Hi, sorry to push on guys, but does anyone have an answer to my question above? Thank-you

Hi mozzyc
myself and my partner started a dmp due to tha fact that we found out she was expecting-after 4 months payments we have now had to reduce payments due to not knowing for sure how much benefits we are entitled to and she is now starting maternity pay
Pay plan were fine with it,I have also sent letters to creditors explaining why the payments are reduced and hoping they will keep stopping interest and charges(worth a try)
hope this helps

sandalwood_2

sandalwood wrote: »

Hi mozzyc
myself and my partner started a dmp due to tha fact that we found out she was expecting-after 4 months payments we have now had to reduce payments due to not knowing for sure how much benefits we are entitled to and she is now starting maternity pay
Pay plan were fine with it,I have also sent letters to creditors explaining why the payments are reduced and hoping they will keep stopping interest and charges(worth a try)
hope this helps

Or,you can just do a couple of months of token payments so you can buy baby stuff and them carry on with the payments once you know how much you can afford each month

crafty1

Just had to do a review with CCCS as OH wages increased by £40 a month, but due to other areas of my budget changing I have only increased my payments by £14 a month - she asked me to reduce a couple of areas of my budget newspapers/magazines down to £5 and dry cleaning to £10 but I argued that one and said you can't get a suit cleaned for that and as we both work in the City need to have clothes dry cleaned so they left it - glad it's over don't know why but i got a bit nervous about it! that;s it now until July 2010 unless i request one.

JoJoB

Am trying to gee OH up to get dmp in place, but he's in avoidance mode, and I hate nagging, and DD has just had swine flu. So only got as far as opening up Halifax account and transferring a few d/ds. And sent off form for his wages to be paid into new account. Lots more to transfer though. Hopefully tomorrow he will just go into Barclays and cancel them all. He's scared that will arouse suspicion though. But he will just have to!

My nightmare scenario is that something will go wrong with the changeover of wages to the new account, the form will get lost or something, and they will be paid into Barclays and Barclays will nab it all!

One thing I wanted to ask - he has a Barclayloan DD. Can he cancel this at the bank, saying he is going to switch bills to another a/c? Will they continue to take this out of his account after dmp if they choose not to accept it, thus pushing him further into debt (and accruing charges)?

I am carping myself over all this!