DMP Mutual Support Thread (Part 6)

cleomolly

ianmak wrote: »

Hi,

Have they actually defaulted you then? If they have then that's 6 years from when they default you. If you are on an arrangement plan then it could well be that it's 6 years from when you settle?

Hi ianmak

Iy's not actually clear whether they have or haven't ? whereas the lttr I've got from cap1 states 'we've issued a default notice' the lttr I've rcvd from MBNA just says

'I confirm we are prepared to set a minimum monthly payment level on your account of £ , the interest rate has been reduced to % and late or overlimit fees have been suspended. this arragement/debt management programme will be reported at the credit referrence agencies for up to 6 years after the balance has been settled in full...........blah..........blah.........in the future if your financial situation does not improve, then we may consider formally rescheduling the account.

so I'm not entirely sure whether they have issued a default or not ??? x

carab_3

Hi guys,
Well I finally managed to speak to Payplan on Friday and DMP's moving forward again. Now need to move my Bank Account, probably to Co-operative Bank Cashminder, but now I need to find out how long it takes to transfer my direct debits and how to make token payments to creditors if you don't get a chequebook with Cashminder. Debit card I suppose.

I had also been getting many phonecalls from Barclaycard at work and home last week so I called them on Sunday to tell them about DMP (no phonecalls for 30 days ). They wanted to check my telephone numbers they have on file - I told them workplace telephone number was wrong so hopefully no more phonecalls at work. Wish I could do the same with all my creditors.

DevonGirl

carab wrote: »

Hi guys,
Well I finally managed to speak to Payplan on Friday and DMP's moving forward again. Now need to move my Bank Account, probably to Co-operative Bank Cashminder, but now I need to find out how long it takes to transfer my direct debits and how to make token payments to creditors if you don't get a chequebook with Cashminder. Debit card I suppose.

Hi Carab

It took about 10 working days to set up my basic bank account (although mine was with RBS) - it helps if you have internet banking so you can keep an eye on things rather than having to keep ringing them!
Most creditors will be more than happy to provide you with an account number to make standing orders and/or ad hoc token payments. You can usually add them as a payee and make payments on your own terms.

I hope this helps - never had a Co-op account, but as far as I can see the main banks/building socs all offer similar services.
BW
DG

ad1jnl

I've now been on the DMP for a couple of months. Its a bit of a struggle getting used to the bugdeting but does feel better seeing the debt actually go down. Not had ANY phone calls from creditors - just letters and these were generally standard stuff so most seem to have accepted it. The CC (MBNA & HSBC) have reduced the interest but not totally stopped it

I have a bit of a dilemma at the mo. Where I work are offering a severance package for staff - its 1 years salary tax free. Now this would pay my debts in full but obviously I then have to find another job (provided they accepted me going) Would I be able to negotiate full and final settlements with the debts if I completely cleared them. Also, always dreamed of working abroad and this may pave a way towards it. Just doing some calcs at the mo to see how realistic this would be to do....

Jon

ilovesooty

I've opened a Co op account as I thought it might come to this. Have finally stopped shutting my eyes to the problem, filled in the debt remedy form and contacted CCCS. They suggested either a DMP or an IVA: have gone for the former as I'd rather try to pay the debts and in my job can't risk being made bankrupt at any time in the future.

Could I have a number please might be here some time?

carab_3

DevonGirl wrote: »

Hi Carab

It took about 10 working days to set up my basic bank account (although mine was with RBS) - it helps if you have internet banking so you can keep an eye on things rather than having to keep ringing them!
Most creditors will be more than happy to provide you with an account number to make standing orders and/or ad hoc token payments. You can usually add them as a payee and make payments on your own terms.

I hope this helps - never had a Co-op account, but as far as I can see the main banks/building socs all offer similar services.
BW
DG

Thanks DevonGirl. I'll get that done tomorrow.

ladyday

Does anyone here have experience of dealing with Mercers DCA ? My latest barclaycard statement says it's being passed to Mercers who I know are still part of barclaycard. I'm meant to inform CCCS if a debt is passed to a DCA but does this still apply to 'in-house' DCA's ?

Barclaycard stopped interest and charges right from the start of my DMP a couple of months ago and they haven't phoned or wrote at all so I was hoping they'd accepted the DMP ok but now I'm feeling slightly nervous that it's going to be a problem. I think I would just die if they sent a doorstep collector round as I live with family who don't know about my debts :eek:

cocker100

saskia1 wrote: »

Me again..

sorry - does anyone know the guidelines for when you can & cannot call people - at work we have the 9.00am to 9.00pm mon - sat rule - - but i've just realised my missed calls from m&s started at 9.10am yesterday.

is there a thread on here somewhere...........

ta all

sas

Hiya,

As far as i'm aware, the allowed times for creditors to be calling you are 8.00am to 9.00pm.

I'm not sure if they are different on the weekends, but I wouldn't think so, so your call at 9.10am would be within the allowed timescale.

Cocker:)

cocker100

ladyday wrote: »

Does anyone here have experience of dealing with Mercers DCA ? My latest barclaycard statement says it's being passed to Mercers who I know are still part of barclaycard. I'm meant to inform CCCS if a debt is passed to a DCA but does this still apply to 'in-house' DCA's ?

Barclaycard stopped interest and charges right from the start of my DMP a couple of months ago and they haven't phoned or wrote at all so I was hoping they'd accepted the DMP ok but now I'm feeling slightly nervous that it's going to be a problem. I think I would just die if they sent a doorstep collector round as I live with family who don't know about my debts :eek:

Hiya,

Mercers always threten you with a doorstep collector. I have yet to hear of a case where they actually did send anyone round. They did the same to me at the start of my DMP and nobody came calling!:rolleyes:

I also spoke to one of the rudest woman I have ever had the displeasure of speaking to on the phone regarding my account. She denied any knowledge of my DMP and demanded a debit card payment. Needless to say I told her where to go, so she said that they would pass the account on to their solicitors.

Again, they never did and a couple of weeks later, I received a letter from Barclaycard stating that they had accepted the DMP. Since then they have probably been the best creditor to deal with and always continue to accept my DMP at each review.:D

Hope this helps,

Cocker:)

cocker100

ad1jnl wrote: »

I've now been on the DMP for a couple of months. Its a bit of a struggle getting used to the bugdeting but does feel better seeing the debt actually go down. Not had ANY phone calls from creditors - just letters and these were generally standard stuff so most seem to have accepted it. The CC (MBNA & HSBC) have reduced the interest but not totally stopped it

I have a bit of a dilemma at the mo. Where I work are offering a severance package for staff - its 1 years salary tax free. Now this would pay my debts in full but obviously I then have to find another job (provided they accepted me going) Would I be able to negotiate full and final settlements with the debts if I completely cleared them. Also, always dreamed of working abroad and this may pave a way towards it. Just doing some calcs at the mo to see how realistic this would be to do....

Jon

Hiya Jon,

Not 100% sure, but you might struggle to get a decent full and final at this early stage of your DMP. I'm sure a couple of people have tried and been unsuccessful. I think 2Spicy was one if my memory serves me correct.

Have you requested any of the CCA's for your accounts yet? If not, then I would advise that you do before making any offers. If a creditor realises that they have a flawed credit agreement and therefore, an unenforceable one, they would most likely then jump at the chance of a full and final offer.

Have a look at the following thread on CCA's:

http://forums.moneysavingexpert.com/showthread.html?t=767025


Good luck with your employment dilemma!!!:cool:


Cocker:)