DMP Mutual Support Thread (Part 6)

missi76

Hi, quite new to this and thought Id share my situation in case it helps anyone else.

Just joined Payplan, must say, they're n the ball and very helpful. I have just over £13k in debts, 5 of these are payday loans and am hoping the payday companies will accept the dmp. One company, Pounds till Payday suprised me, they called me at work today as I could'nt repay this months hefty £520 so I discreetly told the person Id call her later on my lunch which I did and told her I am in the process of setting up dmp and am struggling financially. she told me to email letter to them with Payplans contact details which Iv done but I wonder if they will accept this considering how unsympathetic they have been in the past. time will tell

newbeginning_2

impetus wrote: »

Cheques are OK - just put a squiggle....how many banks check signatures nowadays!

Sorry if I'm missing something here - but why put a squiggle? why not sign them?

geoffmr1

newbeginning wrote: »

Sorry if I'm missing something here - but why put a squiggle? why not sign them?

You don't sign them because some naughty banks & other creditors sometimes use that signature & apply it to agreements to make them enforceable when they no longer have the original agreement or it doesn't comply with the CCA 1974.

geoffmr1

muddlemess wrote: »

Yeah it worked!! Lets hope this one does too!

I really need some advice, just got my monthly statement from Lloyds TSB and on both my accounts they are charging me over £200 in charges, (one of my overdrafts is £200 so it will be more than doubled!)
Really don't know what to do.....any advice appreciated as they will now start charging me £20 per day again....eeek

Assuming these are bank accounts as opposed to loan or credit card accounts, unfortunately there really isn't a lot you can do at present. You can try writing & pleading financial hardship telling them they aren't being fair considering they know your current financial circumstances. You could take that complaint about fairness to the Ombudsman once you receive a reply, there certainly wouldn't be a guarantee it would work but it's worth a try.

It seems there will be new avenues to try reclaiming bank charges in the near future, but once again its looking like it'll be a very long process (possible years) & the percentage chances of winning are quoted as very low at the moment.

Your best option really is to try & negotiate with the bank or go to the highest person/department you can find & ask them to sell the debt on.

yellowpinky

I've had this letter from Red Castle Recoveries. My c/card debt with Post Office Cards was passed to them a couple of weeks ago after they rejected Payplan's offer. Total £5403.63.


Dear Mx Xxxxxx,

We refer you to our previous letter and attempts to contact you by telephone and are disappointed to note that you have not taken the opportunity of resovling this matter amicably.

Our client has therefore reviewed the matter and intends taking the further action mentioned below to recover the outstanding debt. Howver, our client has instructed us to offer you a final opportunity to conclude this matter.

(their caps) IF YOU PAY THE SUM OF £4322.90 BY 11/12/09, OUR CLIENT WILL ACCEPT THIS AS FULL SETTLEMENT.

If you do not contact us and make this payment or an agreement to repay that is acceptable to our client then we are instructed to pass this matter to our solicitors who may be asked to undertake the following:

Raise and issue a Statutory Demand to be served on you. Upon expiry of this Statutory Demand, if you fail to comply with its terms our client may then seek to issue Bankrupty Proceedings against you.

Please act now to void this possible action, as no further reminders will be sent. Telephone us on xxxxxxx. We can accept payments by credit or debit card.



I am terrified. Can they really make me bankrupt??!!!! In tears at the moment.

Is there some template leter I can send? Just to get them to consider accepting payments through Payplan or something. Payplan have just made them an offer, on the 1st Dec, the same date as this letter, and the status on Justabank has gone back to "pending". I did write in answer to their previous letter, which was almost as threatening and asking for a contact phone number which I didn't give them, just stating I was on a DMP with Payplan, who would be contacting them shortly, and giving my ref number. Thanks in advance and sorry for the long post.

massivedebts

Good evening all!:j

I haven't posted on here in a long, long time but I do get on and read as and when I can. I can't really advise anyone on anything legal re letters etc, I just thought I'd share my journey and hopefully set a few minds at rest!:D

I first posted on here in January this year and what a mess I was in. I cried and cried for days after finally facing our financial situation and deciding to deal with it:o. We owe LOADS:eek: of money to 9 creditors:eek::eek:.
I was absolutely petrified when CCCS told me to cancel all D/D's and just send a £1 to each of my creditors until our DMP was set up.......we had NEVER missed a payment or been late with a payment before.
Our DMP started 1st April 2009 and we've never looked back......................best thing we have ever done, and I really mean that;). I know lots of people say it on here, but it's true. I used to lie awake night after night wondering which credit card I could get some money from to see us through to the next month, then how we were going to pay the payments month after month.
Now I lie awake at night worrying about far more important things like what we're having for dinner the next day;). Joking aside, I cannot stress how much this site has changed our life. The support you get from the people on this thread is invaluable and it is so reasssuring to know you're not the only one out there in a financial mess.:A
Anyway, 8 months in we are still shed loads in debt, all creditors bar 1 have frozen all interest and charges and we are lucky enough not to have been hounded by phonecalls as I know some people are.

If you're reading this wondering if you should post and share your worries, or if you're a regular poster who is just starting out on your journey and have all the worries that we all do at the start.......whoever you are Keep at it............you are so doing the right thing!! and I promise in 8 months time you'll be popping on here one Friday eve, (just before Celebrity final starts!) telling everyone who needs to hear it that they are doing the right thing and it will get better and better until one day the debts you have are the last thing on your mind as they're under control and you're dealing with them.
I wish you all the best of luck with your debt free journey and if I have managed to put at least one person's mind at rest then the rsi has been worth it:rotfl:.
Keep looking at that light at the end of the tunnel as it just keeps getting brighter and brighter.................trust me!!:cool:
Take care and a very merry xmas to you all
MD xx

Confessionsofanexdebtcoll

Evening all, due to start the DMP in Jan now due to OH being laid off as his employer went into administration so no wages for the last 3 weeks work good side is he started a new job 2 days later, so now a weeks work and a bit of money should be coming our way again

Confessionsofanexdebtcoll

Massive debts, thank you for posting that, it rang true for me. We had never missed a payment before on any debts, but lived off credit cards to buy food etc and worried about how we would pay things back etc.

We are due to start our DMP now in Jan rather than this month due to OH being laid off, and i'm prepared to do something i would have never dreamed of doing, and not paying my creditors any more than a £1 this month.

I used to lie awake at night worrying about money and my credit score etc, now I sleep soundly, even though i'm still in debt and realise the worst they can do is put a charge on the house. Oh and the credit score/file?? well it only needs to be good if you want to borrow money, which I will never be doing again :T

andytwonames

yellowpinky wrote: »

I've had this letter from Red Castle Recoveries. My c/card debt with Post Office Cards was passed to them a couple of weeks ago after they rejected Payplan's offer. Total £5403.63.


Dear Mx Xxxxxx,

We refer you to our previous letter and attempts to contact you by telephone and are disappointed to note that you have not taken the opportunity of resovling this matter amicably.

Our client has therefore reviewed the matter and intends taking the further action mentioned below to recover the outstanding debt. Howver, our client has instructed us to offer you a final opportunity to conclude this matter.

(their caps) IF YOU PAY THE SUM OF £4322.90 BY 11/12/09, OUR CLIENT WILL ACCEPT THIS AS FULL SETTLEMENT.

If you do not contact us and make this payment or an agreement to repay that is acceptable to our client then we are instructed to pass this matter to our solicitors who may be asked to undertake the following:

Raise and issue a Statutory Demand to be served on you. Upon expiry of this Statutory Demand, if you fail to comply with its terms our client may then seek to issue Bankrupty Proceedings against you.

Please act now to void this possible action, as no further reminders will be sent. Telephone us on xxxxxxx. We can accept payments by credit or debit card.



I am terrified. Can they really make me bankrupt??!!!! In tears at the moment.

Is there some template leter I can send? Just to get them to consider accepting payments through Payplan or something. Payplan have just made them an offer, on the 1st Dec, the same date as this letter, and the status on Justabank has gone back to "pending". I did write in answer to their previous letter, which was almost as threatening and asking for a contact phone number which I didn't give them, just stating I was on a DMP with Payplan, who would be contacting them shortly, and giving my ref number. Thanks in advance and sorry for the long post.

YP.
1. Stop crying
2. Don't panic
3. Dry your eyes
4. Read the letter again and pay close attention to the words they use.......

"may be instructed"
"may then seek to issue bankrrupcy proceedings"
"possible action"

The letter is written to frighten you. The are saying "may" not "will"

Get in touch with paylan or call the national debt line (http://www.nationaldebtline.co.uk/) who are open on saturday morning and they will be able to guide you on what to do next.

Before anyone can make you bankrupt, they have jump through loads of hoops.
First they have to get a county court judgement (CCJ) and if they get one, you will ask for time to pay and the court will decide how much you can afford (same calculations as payplan and cccs use)
Then you have to fail to make those payments and then they have to go back to court to ask to make you bankrupt.

It's not going to happen overnight and it's very unlikely to happen at all.

geoffmr1

andytwonames wrote: »

YP.
1. Stop crying
2. Don't panic
3. Dry your eyes
4. Read the letter again and pay close attention to the words they use.......

"may be instructed"
"may then seek to issue bankrrupcy proceedings"
"possible action"

The letter is written to frighten you. The are saying "may" not "will"

Get in touch with paylan or call the national debt line (http://www.nationaldebtline.co.uk/) who are open on saturday morning and they will be able to guide you on what to do next.

Before anyone can make you bankrupt, they have jump through loads of hoops.
First they have to get a county court judgement (CCJ) and if they get one, you will ask for time to pay and the court will decide how much you can afford (same calculations as payplan and cccs use)
Then you have to fail to make those payments and then they have to go back to court to ask to make you bankrupt.

It's not going to happen overnight and it's very unlikely to happen at all.

I agree with some of what you say, especially the part that it's more of a threat to scare than anything else.

However, they don't have to get a CCJ to start bankruptcy proceedings. If you owe more than £750 they can start them.