DMP Mutual Support Thread (Part 6)

Kudox

Hi everyone, interesting to read how some people are struggling with stuff at the moment.
I've been on my DMP 9 months now and some days wonder whether it's all worth it. My overall total doesn't seem to have reduced significantly due to some creditors stii piling on the interest and charges and some days I feel like I'm banging my head against a brick wall.:mad:
RBS first passed my debt to Triton, who accepted the reduced payments, then just recently they passed it to Incasso, who promptly issued court papers claiming the full amount :eek: which I have to say freaked me out.

So for that one it looks like I could get a CCJ which I just think is so wrong when I'm making every effort to pay.

I did think about defending the claim but CCCS said they can't offer help about that and advised me that it was quite a complicated in depth thing to do and to be honest the thoughts of it just exhausts me.
I can't even request the CCA because my RBS debts are overdrafts.

Anyway sorry to sound so negative, I know that's not helpful or what anyone wants to hear but I just needed to have a moan.

Hope everyone is doing ok , keep strong( I need to take my own advice there:rotfl:)

spendaholic

Hello everyone. :hello:

I'm just in the process of entering a FMP (Financial Management Plan), which I assume is the equivalent of a DMP (so many acronyms), but I'm not doing it with CCCS (there's another one ...), but with a debt management company, Valour.

At first I was a bit narked about this because they parade as a government website, hoik you in, and then reveal that they're actually a private firm. HOWEVER, when I looked into it further, Valour could sort out this plan a helluva lot quicker than any of the free providers, I did some research and found no complaints (so far), and I decided to give them a go - as they'll hopefully save me loads of time and interest and so earn their fee, which is also pro-rated out of my agreed monthly payment - at least for a few months, just while I get back on my feet. Plus, as soon as I asked them if they took a fee, which was earlier than planned in their well-rehearsed script, they did admit that yes they do.

Soooo, I'm going to give them, say, 6 months, and then maybe move to either CCCS or DIY (acronym no 4).

They still use the government recommended figures for working out your reasonable living expenses and I was commended on (a) managing to meet every single one of my minimum payments EVERY month, despite paying out £300 when I only have £93 disposable income; (b) not slipping into arrears and nipping this in the bud before I do so; (c) under-budgeting on so many items with the sole exception of hair (I have my roots done every month, but it's my only vice - I don't drink, smoke, do drugs, drive a fast car, take gym membership, have all Sky channels, etc, etc).

Of course the flipside of this is that I've been borrowing to repay my loans and that's Not Good at all.

They've decided that I can pay £180 per month, which is almost double what they calculated my disposable income is ... But I suppose that as they've over-estimated for stuff like petrol, pets and clothes (I've never, EVER had a clothes budget - how novel is that?), I should be able to meet this quite easily.

I've redone my own budget spreadsheet and I can see it could work - if everyone comes on board and agrees ... but I have an overdraft with Barclays and a Barclaycard, and having just caught up on these pages today, I anticipate potential problems there.

I could add my Lloyds TSB (acronym no 5) overdraft to the plan, but then I would lose my last remaining cheque account with debit card and 15+ years history, and be at a black zero (apart from the debt) straight away. (Nat West have given me their basic Step account so this is possible.) OR I can omit the Lloyds TSB overdraft, but wait until October for that black zero.

You can see how I'm still mulling things over, but I wish I'd found this thread weeks ago, months ago - and I've been on here for years, as you'll see from my profile - although I think I only reached my LBM (acronym no 6 - um, lightbulb moment ...?) 2 weeks ago.

My FMP starts on 26 June - that's how quickly they turned it around for me. no interim token payments from me, they just handle it straight away.

I'd like to join you all if I may, and please may I also have a number? :A

TTFN.

(Um ... 7 ... Is there a list of abbreviations and their meanings for people?)

DevonGirl

Kudox wrote: »

Hi everyone, interesting to read how some people are struggling with stuff at the moment.
I've been on my DMP 9 months now and some days wonder whether it's all worth it. My overall total doesn't seem to have reduced significantly due to some creditors stii piling on the interest and charges and some days I feel like I'm banging my head against a brick wall.:mad:
RBS first passed my debt to Triton, who accepted the reduced payments, then just recently they passed it to Incasso, who promptly issued court papers claiming the full amount :eek: which I have to say freaked me out.

So for that one it looks like I could get a CCJ which I just think is so wrong when I'm making every effort to pay.

I did think about defending the claim but CCCS said they can't offer help about that and advised me that it was quite a complicated in depth thing to do and to be honest the thoughts of it just exhausts me.
I can't even request the CCA because my RBS debts are overdrafts.

Anyway sorry to sound so negative, I know that's not helpful or what anyone wants to hear but I just needed to have a moan.

Hope everyone is doing ok , keep strong( I need to take my own advice there:rotfl:)

Hi Kudox

Sorry to hear you're having a bad time of it at the moment.

I don't want to sound flippant (because the thought of a CCJ scares me too :eek:) but I can't see what Triton feel they have to gain by taking you to court, so wonder if they are just doing it for effect? It would seem clear to me that someone who has been in a DMP for months and is making regular payments would be seen by the courts to be making every attempt to pay their debts, is keeping to a budget advised by CCCS according to strict guidelines, and clearly won't have the full amount of the debt, so presumably all Triton could expect is for the court to say, yes, keep carrying on the same amount. It doesn't make sense! Maybe I'm being naive but surely it's not worth their money and time going through with this. Surely it's only worth it for the real debt dodgers - 'can't pay, won't pay, won't respond to any letters etc??? (And clearly you're not if you've been in a CCCS-managed DMP for 9 months).

Hopefully it's just scare tactics. I am keeping my fingers crossed for you that this is the case anyway....;) Hopefully one of the experts like 10past6 will be along shortly to ease your fears.

In the meantime, chin up and hope things get better for you...
DG:D

cleomolly

as above, I too hope this is just a scare tactic. it is scary for me to read this as I'm only just entering into my agreement and thought that a default would be my main worry not a ccj, I do however hope that this is not the case for you. Good luck with sorting things out and I will keep a check on replies : )

leese2504

Eupho wrote: »

:T Oo thats great Leese!.. a good start from HSBC anyway.. :rotfl:

They stillllllll have not written to me at all... (but are now calling every day again.. from a new number (num: 4) :rolleyes:

I am reeeeeeally struggling with it all at the moment.. Its doing my head in. (just because everything is still up in the air) aaand.. the realisation that my budget is reeeeeally tight.. :rolleyes:
I'm umming and arring as to whether I could fit in a 2nd job somewhere.. (tho I could probably only do it a few afternoons a week)
:wave:

Hi Eupho,

I hope you don't feel too disheartened, you are still doing the right thing!! You shouldn't deal with your money worries everyday, have a day off from it and you will feel so much better. Have you called HSBC to discuss over the phone? I know its not the best thing to do but it may lighten the loan a little. I contacted HSBC via email on their website ( under complaints ) because letters I sent about my over draft and personal loan hadn't been cashed and lo and behold they got cashed today! So it might be worth a try contacted them that way. x

leese2504

Afternoon All,

Thought it was time to update on responses from creditors:

All my creditors as of today have cashed my token payments.

HSBC ( hubby's CC ) have accepted reduced payment and APR is now 6%
I also have a CC with HSBC, personal loan & overdraft and no contact for a couple of days so one is assuming reduced payments have been accepted - we shall see!
NR only cashed cheque today but no phone calls for past couple of days.
Natwest CC - are going to default us then their collections team will consider reduced payments.
Littlewoods - have had a nasty email from myself demanding some sort of contact as cheque cashed a week of so ago.
Mother care card - now stopped calling and cheque cashed so who knows ????
MBNA - want us to call and discuss - hmmmm yeahhhhhh dont think so :rotfl:have sent letter back advising we are too weak to discuss over phone, can they or cant they accept!!!!

So at the mo i am feeling okay. oh and NR have sent letter stating if i dont contact them they will go for a charging order - but no force sale. Ok yeah u do that I am in negative equity already and ummm where is my CCJ first pal!

So all good my end xxx hope everyone else is doing ok x

Kudox

cleomolly wrote: »

as above, I too hope this is just a scare tactic. it is scary for me to read this as I'm only just entering into my agreement and thought that a default would be my main worry not a ccj, I do however hope that this is not the case for you. Good luck with sorting things out and I will keep a check on replies : )

Cheers to you and Devongirl for your messages of support.
Sorry cleo, didn't mean to scare you in posting about this, was just feeling a little overwhelmed.
I'm sorry to say I don't think it's just scare tactics, the court papers are official and CCCS have told me how to respond, ie filling them in etc.
They said that in nearly all cases the court will say you just have to pay what you are now, and the debt will become a priority one.
I suppose the best thing is that no more interest can or will be added so at least the debt will reduce.
Strangely enough this is my smallest debt so it seems like an even more extreme reaction.
CCCS said that Incasso have done it with loads of people recently, seems so unfair when you think how much trouble RBS themselves are in:mad:
Anyway sorry again for scaring anyone, I'll keep posting how I get on.

DevonGirl

Hi again Kudox

It's soooooooo unfair that they're doing this when you're clearly serious about dealing with your debt. I suppose if they're determined to go down this route, all you can do is fill in your forms and let the court decide (almost certainly in your favour).... As you say, hopefully it will mean no more interest and you won't get anymore hassle from them...

I really don't understand why some companies don't accept DMPs. I know they don't always work, but by and large they show an acceptance to sort out your debts, and if a debtor goes into IVA or BR, they are likely to get very little, so you'd think it was the best option for them when someone is in financial difficulties.

Just a final thought... is it worth contacting them by phone, e-mail or letter just resending your budget and monthly payment amount and seeing if they'll reconsider?? A bit scary I know but you sound like you've got nothing to lose... just an idea...

Anyway keep us posted and try not to let it get you down (easier said than done).... :grouphug:
DG

Kudox

DevonGirl wrote: »

Hi again Kudox

It's soooooooo unfair that they're doing this when you're clearly serious about dealing with your debt. I suppose if they're determined to go down this route, all you can do is fill in your forms and let the court decide (almost certainly in your favour).... As you say, hopefully it will mean no more interest and you won't get anymore hassle from them...

I really don't understand why some companies don't accept DMPs. I know they don't always work, but by and large they show an acceptance to sort out your debts, and if a debtor goes into IVA or BR, they are likely to get very little, so you'd think it was the best option for them when someone is in financial difficulties.

Just a final thought... is it worth contacting them by phone, e-mail or letter just resending your budget and monthly payment amount and seeing if they'll reconsider?? A bit scary I know but you sound like you've got nothing to lose... just an idea...

Anyway keep us posted and try not to let it get you down (easier said than done).... :grouphug:
DG

Thanks again DG.
I have done that and sent a copy of the letter they sent me accepting reduced payments.:rolleyes:
I'm just going to fill in the papers and see what happens.
It's really helped just posting on here about it, I feel a bit better now.
Thanks again.

gaztop26

Received three more acceptance letters from MBNA today saying they will accept the payment for the duration and will stop interest and charges :D!


only 4 more creditors to go!!


Why didn't I do this before?

*goes to fridge for celebratory beer*