DMP Mutual Support Thread (Part 6)

yellowpinky

Fabulous! Thanks! :beer:
YPx

ianmak

Co-op have been brilliant for me. I too got turned down for a current account online, and went to my local branch to apply for a cashminder. Went away and two or three days later was approved. The account is basic, with an electron card (Fine for 95% of stuff) and their online banking is great as well. I also rather like their ethical stance at this moment in time!

dannynixon

Hi all,

I have finally decided to sort out my (and my wife's) debt and contacted CCCS on 29th July and listed my priority stuff (rent etc) and all of my debts. They gave me a date to speak to the counsellor to go through SOA but it wasn't until 26th August!!!

Anyways, got back yesterday from a week away and rang them for a sooner appointment and they are ringing me at 12 today, yipee!! I also opened a new bank account yesterday.

I have been reading this thread and it seems like a lot of creditors are 'awkward' mainly because it will take too long to pay them off.

I'm just going to list my debts and if I get on a DMP, wonder if anyone could identify any of my creditors who will not like my DMP offer.

Barclaycard CC - 9,300, min pay is 200
Halifax CC - 1843, min pay 25
Vanquis CC - 480, min pay 21
Vanquis CC - 250, min pay 10
Capital One - 167, min pay 10
Argos, 581, min pay 25
Simply Be - 96, min pay 10
Next - 200, min pay 20
Halifax loan 2726 left, payment is 115
Natwest student OD, 1700
Halifax OD, 1700

I think I am mainly worries about Barclaycard saying tough !!!! because it will take forever. I am being charged £150per month interest for this card!


One more thing, CCCS also asked if I owe money to family on the first call and I said yes, my dad took out a loan which runs till Aug 2010 and costs 135 per month and my nana lent me 450 (on her visa) for a nightmare MOT which I am going to pay back at 50 a month. Havent started yet.

I said that I dont want family to know about this, she said that's fine but did ask about how much I am paying these per month. Will they take this into account do you think?


And hello again all!!!

dannynixon

londonfraggle wrote: »

Yes, I was pretty impressed with BT, and they said it would only take up to max. 24 hours for the changeover to take place. I think it is probably worth doing just to avoid some of the calls??

That said, I haven't actually started my DMP yet (appointment with CCCS not for another 2 weeks - they must be busy these days) but am hoping to start it as soon as possible.

My big worry is how long it takes to get everything sorted out? I'm due to go overseas (work not holiday) mid-September and am scared that I'm going to be leaving behind a lot of angry creditors and come back to a front door that won't open because of all the post!

Another question - because of the size of my debt and the number of creditors (14 - don't ask, it makes me want to cry) I thought going through the CCCS would be the best option. However, I have seen that quite a few people have set up their own DMPs - which I'm truly impressed with. Can anyone advise me on the pros/cons of going it alone or not? I ask because I simply feel that I got myself into this mess and I should get myself out of it.

Any advice would be great.
Thank you all v much.

Fraggle x

If you still wanna goi with CCCS, I originally rang on July 29th and had the appointment on 26th august. I rang them yesterday and asked if there had been any cancellations and they have got me in for 12 today. Give them a ring and just ask :cool:

dannynixon

dannynixon wrote: »

Hi all,

I have finally decided to sort out my (and my wife's) debt and contacted CCCS on 29th July and listed my priority stuff (rent etc) and all of my debts. They gave me a date to speak to the counsellor to go through SOA but it wasn't until 26th August!!!

Anyways, got back yesterday from a week away and rang them for a sooner appointment and they are ringing me at 12 today, yipee!! I also opened a new bank account yesterday.

I have been reading this thread and it seems like a lot of creditors are 'awkward' mainly because it will take too long to pay them off.

I'm just going to list my debts and if I get on a DMP, wonder if anyone could identify any of my creditors who will not like my DMP offer.

Barclaycard CC - 9,300, min pay is 200
Halifax CC - 1843, min pay 25
Vanquis CC - 480, min pay 21
Vanquis CC - 250, min pay 10
Capital One - 167, min pay 10
Argos, 581, min pay 25
Simply Be - 96, min pay 10
Next - 200, min pay 20
Halifax loan 2726 left, payment is 115
Natwest student OD, 1700
Halifax OD, 1700

I think I am mainly worries about Barclaycard saying tough !!!! because it will take forever. I am being charged £150per month interest for this card!


One more thing, CCCS also asked if I owe money to family on the first call and I said yes, my dad took out a loan which runs till Aug 2010 and costs 135 per month and my nana lent me 450 (on her visa) for a nightmare MOT which I am going to pay back at 50 a month. Havent started yet.

I said that I dont want family to know about this, she said that's fine but did ask about how much I am paying these per month. Will they take this into account do you think?


And hello again all!!!

***bump***

massivedebts

Hi danny
The only creditor we have in common are barclaycard.. . . . . they are the only creditor that haven't contacted me but just seem to have accepted the DMP offer and have stopped all charges and interest. Not sure re your family 'loans' but I guess CCCS would have answered that Q for you now bearing in mind your appointment was at 12 today. How did it go?
MD xx

spendaholic

First of all, belated congratulations to JillyOJolly. :beer: That's fantastic news and gives the rest of us hope. It also "only" took you 4 years, which is brilliant.

I made my first payment on 26 June but my creditors only started to received their £1 token payments in the past fortnight. Halifax and Argos Mastercard and Storecard were all saying they'd not heard from my DMC, but in fact the company had received letters and phone calls from both, plus Halifax had banked the £1 they'd been sent.

This week I received my first default notice and it was from Egg. It did send a chill down my spine to read it, but reading all the stories on here soon sorted that.

I've picked up some extra work, which will mean extra income, I've got some nice royalties due, and I'm putting what I'm not spending on my budget in a pot. I think I'm going to put it all together in a slush fund until I can offer nice round F&Fs to the smaller debts - and/or make occasional necessary or luxury purchases that would normally go on a credit card.

mozzyc

Hi Guys

Wanted to copy my post here to get ideas from any of you on it -

Hi

After being on our dmp now since 2005, we are still struggling to get Lloyds TSB to freeze interest, after many attempts by ourselves and payplan. We received a statement recently showing that the loan figure owed has actually gone up from what it was in 2005, and hasn't gone done at all, even after paying £202 every month. In 6 months, they've added £1000 interest. They know we'll never pay it back at this rate, and right now, our dmp seems like it could go on for many more years.
So after being advised by people on here, i've written them an official complaint letter.
Could you guys read it over before i send it and give me some advice on things to add or delete from it before i send it.
I really need this to work. I don't want this debt for the rest of my life.
Thanks

LETTER OF COMPLAINT

Dear Sir/Madam


We’ve written to you now a few times explaining about our financial difficulties. We’ve done what was advised on your website, and contacted Payplan to help with our debts. In 2005 we started up a debt management plan to help pay back our creditors and reduce the amount owed.

Since starting the dmp in 2005, we have managed to reduce most of the debts we owe, with the help of most creditors stopping interest, enabling us to pay it off.
But after many requests from ourselves and Payplan, you have refused to help us pay off what we owe by adding interest to the loan every month, and over the past 4 years, after paying £202 per month, we have actually seen our balance go up, if not, remain the same.

Right now, by not being able to clear this debt in any possible way, it is putting our debt management plan at risk, with yourselves and our other creditors.

According to the consumer credit act - an example of unfair practice is

2.10 d. applying unreasonable charges, for example, charges not based on actual
and necessary costs

2.10 e. applying charges which are disproportionate to the main debt.


In order to help us pay off our debt to you, I request that you freeze the interest, and all charges and interest added to the account be paid back from the time we first informed you of our financial difficulties in 2005.

If you refuse to help us by doing this, we request that the debt please be passed onto your Consumer Debt Recovery Department, so that the interest is stopped and that we may receive a figure that we can work towards clearing.

If you are unable to help us with our financial difficulties by not working with us and Payplan with the debt management plan (even though it is advised on your website to contact them to deal with debt management), by freezing the interest on our loan, and paying back charges since 2005 and we have not heard from you in 8 weeks, we will do what is advised by yourselves and will be writing to the Financial Ombudsman Service.

We hope that you work with us to help clear our debt and pay back the original loan amount and look forward to hearing from you shortly.

Daffykjs

PaulB79 wrote: »

Any how roll on Tuesday night for the gig of the year..Pearl Jam at Shepherds Bush:T

Sooooooo Jealous!!! I couldn't get tickets!! How was it? (Actually I'm sure i really want to know! )

Seeing them at the O2 next week tho! They are hubby's favourite band and my favourite band (Gomez) are supporting! How exciting!! Gonna be the best gig ever!! you going to the o2?

Daffykjs

dannynixon wrote: »

Hi all,

I have finally decided to sort out my (and my wife's) debt and contacted CCCS on 29th July and listed my priority stuff (rent etc) and all of my debts. They gave me a date to speak to the counsellor to go through SOA but it wasn't until 26th August!!!

Anyways, got back yesterday from a week away and rang them for a sooner appointment and they are ringing me at 12 today, yipee!! I also opened a new bank account yesterday.

I have been reading this thread and it seems like a lot of creditors are 'awkward' mainly because it will take too long to pay them off.

I'm just going to list my debts and if I get on a DMP, wonder if anyone could identify any of my creditors who will not like my DMP offer.

Barclaycard CC - 9,300, min pay is 200
Halifax CC - 1843, min pay 25
Vanquis CC - 480, min pay 21
Vanquis CC - 250, min pay 10
Capital One - 167, min pay 10
Argos, 581, min pay 25
Simply Be - 96, min pay 10
Next - 200, min pay 20
Halifax loan 2726 left, payment is 115
Natwest student OD, 1700
Halifax OD, 1700

I think I am mainly worries about Barclaycard saying tough !!!! because it will take forever. I am being charged £150per month interest for this card!


One more thing, CCCS also asked if I owe money to family on the first call and I said yes, my dad took out a loan which runs till Aug 2010 and costs 135 per month and my nana lent me 450 (on her visa) for a nightmare MOT which I am going to pay back at 50 a month. Havent started yet.

I said that I dont want family to know about this, she said that's fine but did ask about how much I am paying these per month. Will they take this into account do you think?


And hello again all!!!

the only one i have the same as you is the natwest OD and they have been my worst (sorry). It went over the limit near the beginning and they have from that point on been charging me interest AND charges which add up to more than i am paying them! so it's going up and up and they are being VERY awkward! however i'm hoping they have now defaulted me and sent me to a dca who i'm hoping willbe more reasonable. also i will be attempting to claim charges back from them. fingers crossed!

however it seems from spending time on here that even when people have the same creditors there seems no rhyme nor reason to how they chose to deal with DMP and whether they accpet or not. it all seems to be a case of trial and error!

the private loan could be difficult if it's a lot of money! the very first time i spoke to pp years ago i got turned down for a dmp coz i was paying £180 to a family member and they couldn't consider it but i didn't want to reduce it, and it made it look like i had £180 more than i had to live on and therefore i didn't fall into the 'not enough money to live on' catergory and got turned down. hopefully that won't bet the case for you and this was years ago so things may have changed now!

good luck, you are doing the right thing!!