DMP Mutual Support Thread (Part 6)

andytwonames

geoffmr1 wrote: »

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.

Didn't know that!

But, the underlying thing to remember is that they are very unlikely to go straight for that since it will cost them to do it. I reckon it's an empty threat.

geoffmr1

andytwonames wrote: »

Didn't know that!

But, the underlying thing to remember is that they are very unlikely to go straight for that since it will cost them to do it. I reckon it's an empty threat.

I totally agree its likely to be an empty threat. There is a very high chance a statutory demand will be issued, but I was reading only this past week that 99% of statutory demands are not acted upon. As you say it's not a simple matter & there are numerous reasons that you can use to have a statutory demand set aside.

I suppose this type of threat is being used more because it comes across as being far more scary than the threat of a ccj.

momstrimmed

Well its been 10 days since I posted my first thread. Well I told the OH how much I was in debt and well, its a good job she loves me. No I haven't been let off the hook, but there were a lot of tears etc. She was surprisingly calm. I explained that I have seeked CCCS to help with the management of the debt, and all I can say if anyone is scared of telling their OH go through to CCCS first and outline a plan that will re-assure that everything is going to be OK and you will repay the debt. As it happens budgeting was something that we were going to cross at some point with our second baby on the way. After laying all of my cards on the table we can see a brighter future together. The CCCS is already contacting my creditors and I have made a token gesture payment of £10 to each. I had a statement from Halifax Current Account on Friday saying charges are this and that, then this morning I receive another statement saying I will no longer be charged for being into unauthorised overdraft. To me this is a good indication that they have stopped further charges on my account. Well only 5 more creditors to agree.

I will keep you posted, and if anyone is in the same boat I will happy share my experience on this.

Have a good day.

iwillgetoutofdebt

Hi everyone, I have just made my way over to this thread as I am just starting my DMP, which will last 5 years. My payments are up to date for this month, so I am guessing that the onslaught of letters etc will begin in January (hopefully I won't get any calls on Christmas Day anyway :rolleyes:).

I have been advised to change my phone number. Has anyone else done this, or is it possible to change the number on these accounts to a fake one, and thus avoid the inevitable? I thought it might be an idea to try this whilst I can still access my accounts on-line, as no doubt that facility will soon be whipped from under me

I have had a read through some of this thread, and noticed that some creditors will re-instate direct debits. The only creditor that I pay this way is Egg - does anyone have any experience of them doing this?

TBH, it still feels a bit unreal to me. I am not sure what the next few weeks/months will bring, but it will be a relief not to be juggling payments and trying to get on with living.

ianmak

They will only reinstate if you have a bank account with the same company as one of your creditors. I had a DD with Egg and cancelled. They were fine, defaulted straightaway and stopped interest. Haven't heard a peep since.

Welcome to the thread btw!

Triggles

Bit of a puzzler for me here.

We have a Virgin credit card, and we sent them (as we did all our other creditors) the £1 token payment last month. We have received to date from them:
- a letter/statement from Virgin showing receipt of the £1 and crediting it to our account, along with our past due balance... basically this month's regular statment
- a letter from mbna (no indication of Virgin on the letter, but the credit card/account numbers match) stating they've received our letter and want every piece of information known to man, including our incomings/outgoings and most likely our shoe sizes before they can agree to reduced payments
- a second mbna letter a week later saying basically hello - why haven't you paid us yet
- a letter from Risk Management Alternatives saying they have been instructed by MBNA to collect the overdue amount (although looking at the payment information, it looks like it would still be paid to MBNA)

I assume that RMA is an arm of MBNA, correct? So I can just ignore that particular letter and continue making my smaller payments to MBNA?

Additions did the same thing, and I will admit it's a bit frustrating, as it makes it look like it's been turned over to a collection agency, but it really hasn't, as these are just part of the main group I think.

Another credit card stated they couldn't accept reduced payments as there had been recent purchases on it. Not so recent, but we have been doing a bit of "robbing Peter to pay Paul" kind of thing. Which is why up until now we hadn't even missed a payment. I guess with that one, we'll just continue to send in the smaller payments, and eventually they won't be able to say that. :rotfl:

So this month out goes another token payment and then next month, once we have sorted out how much we have free monthly to make payments, we will send a higher amount to them. What with massive car repairs, all our quarterly utilities this month, and a few unexpected necessary expenses, it's been quite a month!

Twit_Head

Evening All
Nice to hear from fellow DMPers new and old.
Had my 1st review with CCCS last week and because of some drop in utility bills I have able to increase my payment by......wait for it kiddies......£4-00 to £80-00 per month!!! A drop in the ocean to some I know but this will bring my horrendously long DFD a wee bit closer.
Because of my age they did suggest I talk to an equity release company as I own the majority of my house. Expect the call next week, but I have done some research on T'Internet and it seems to me I would be swapping a odious yoke for an extremely painful one. My understanding is it would be a sort of 2nd secured mortgage on the property, and liable to all sorts of restrictions/covenants and I could end up liable for far more than at the moment. 'Beware a stranger bearing gifts!' Has anyone got any experience/advice re: these companies?
As to my poor battered emotional state am feeling a bit stronger - good days, bad days. So grateful to caring and supportive friends but still torn between wanting to be angry or begging him to come back
In effort to cheer myself up today I have 'decked the hall with boughs of holly' and put the Christmas tree up. What a saddo! Hee,hee - nabbed the record for 1st in the street to go all Xmas! :snow_laug
'Twitty'

geoffmr1

Twit_Head wrote: »

Evening All
Nice to hear from fellow DMPers new and old.
Had my 1st review with CCCS last week and because of some drop in utility bills I have able to increase my payment by......wait for it kiddies......£4-00 to £80-00 per month!!! A drop in the ocean to some I know but this will bring my horrendously long DFD a wee bit closer.
Because of my age they did suggest I talk to an equity release company as I own the majority of my house. Expect the call next week, but I have done some research on T'Internet and it seems to me I would be swapping a odious yoke for an extremely painful one. My understanding is it would be a sort of 2nd secured mortgage on the property, and liable to all sorts of restrictions/covenants and I could end up liable for far more than at the moment. 'Beware a stranger bearing gifts!' Has anyone got any experience/advice re: these companies?
As to my poor battered emotional state am feeling a bit stronger - good days, bad days. So grateful to caring and supportive friends but still torn between wanting to be angry or begging him to come back
In effort to cheer myself up today I have 'decked the hall with boughs of holly' and put the Christmas tree up. What a saddo! Hee,hee - nabbed the record for 1st in the street to go all Xmas! :snow_laug
'Twitty'

Hi Twitty,

I put my decorations & tree up last week so I beat you to it!! :rotfl:

I can't believe CCCS advised you to talk to an equity release firm. To be honest CCCS are good at running DMP's but the advice they give out is lousy. I've said numerous times if I had listened to their advice regarding legal matters I'd be in all sorts of trouble now. I phoned them 3 times regarding one matter & each person I spoke to gave a different answer. In the end I spoke to the National debtline who were much more clued up & then Citizens Advice.

iwillgetoutofdebt

Morning everyone.

I am in the process of changing my bank account before my DMP gets underway and I am looking at the Coop Cashminder account. Does anyone have one of these? Could you tell me what sort of debit card that you get with it? They don't have any local branches where I live, but assume that with on-line banking etc, I wouldn't really need that?

I did have a bit of a wobble this morning, and my poor hubbie found an emotional wreck sobbing over breakfast. I don't know why I am so worried about my credit files as I don't ever intend taking out credit every again - it's back to go old saving-up for me (why didn't I listen to my Dad all those years ago). I guess we are all brought up to believe that being imprudent with money is one step away from being a criminal. Also I wonder why I am so anxious about my status with financial institutions who have been behaving so badly over the past few years.

I am anxious about the oncoming onslaught of telephone calls, letters etc. Has anyone bought one of these http://www.callblocker.co.uk/ Do they work?

Sorry, I warned you I would have lots of questions

Twit_Head

geoffmr1 wrote: »

Hi Twitty,

I put my decorations & tree up last week so I beat you to it!! :rotfl:

I can't believe CCCS advised you to talk to an equity release firm. To be honest CCCS are good at running DMP's but the advice they give out is lousy. I've said numerous times if I had listened to their advice regarding legal matters I'd be in all sorts of trouble now. I phoned them 3 times regarding one matter & each person I spoke to gave a different answer. In the end I spoke to the National debtline who were much more clued up & then Citizens Advice.

Really was a bit dubious when they suggested it but as I said wouldn't contemplate it after having done some research. Thanks as always for your excellent advice.