DMP Mutual Support Thread (Part 6)

doodle0269

Hey Guys! DMP going well so far into 2nd month. All but abbey, barclay card and ge money have accepted!
I have had an email from payplan today though saying a creditor has contacted them and they need to talk to me about my account! Have got all anxious as they are shut and cant ring til 2moz now!
Has anyone had an email like this regarding thier accounts and is it bad news????
ARRGHHH

doodle0269

Can i also please ask.............
I have seen some people have claimed back ppi - what is this and how do you get it back? Sorry if i am being dim!!

XXXXXXXX

madkitty

PPI = payment protection insurance - its the insurance that some companies either make you take out or dont tell you about on your loans, credit cards etc

sandalwood_2

Havent posted for a while,DMP slowly chugging on,no major news,unitl yesterday....

We have around £40k of debt,one of them is Virgin (MBNA)c/card that my other half has(I also have one) they have been pretty good and stopped charges and interest more or less straight away..but our payments had to drop due to maternity pay and me taking a reduction..
They sent an email to the other half asking for a call straight away,I called them and they said that this debt is going to a DCA,but we can make a settlement figure if we have the cash,the debt is £7k and they said we could pay £2k to clear it!! Funnily enough,I have the £2k as I got a bonus last month and put it to one side to pay of FF settlements.
They said the account will show a partial defualt on my credit file-does anyone know how this is different to a full default? Obviously,if I go for it I will get written confirmation from them,but shall I wait and see if the DCA they pass it to will accept less,or does anyone think that I would just be trying my luck?
Or do you think I should wait and try and haggle with a creditor(Natwest) that is adding charges on big time and try and get rid of them(same size debt-ish)

Any input,help and ideas would be appreciated

thank you

DotNetter

sandalwood wrote: »

Havent posted for a while,DMP slowly chugging on,no major news,unitl yesterday....

We have around £40k of debt,one of them is Virgin (MBNA)c/card that my other half has(I also have one) they have been pretty good and stopped charges and interest more or less straight away..but our payments had to drop due to maternity pay and me taking a reduction..
They sent an email to the other half asking for a call straight away,I called them and they said that this debt is going to a DCA,but we can make a settlement figure if we have the cash,the debt is £7k and they said we could pay £2k to clear it!! Funnily enough,I have the £2k as I got a bonus last month and put it to one side to pay of FF settlements.
They said the account will show a partial defualt on my credit file-does anyone know how this is different to a full default? Obviously,if I go for it I will get written confirmation from them,but shall I wait and see if the DCA they pass it to will accept less,or does anyone think that I would just be trying my luck?
Or do you think I should wait and try and haggle with a creditor(Natwest) that is adding charges on big time and try and get rid of them(same size debt-ish)

Any input,help and ideas would be appreciated

thank you

Hi there,

My opinion is that a bird in the hand is worth 2 in the bush - a £2K payment to wipe of £7K is a great result I think and you may find that NatWest don't accept it and by then the offer from MBNA has been withdrawn (don't know if they can do that or not but would guess they can?).

Speak to CCCS or PayPlan or whoever your DMP is with and ask them for some advice - or Citizen's advice or National Debt Line??

I would write them a reply letter telling them that you wish to accept the offer on the condition that the defaults are removed from your credit file (depends how bothered you are about this) as that's the advice I've seen regarding final settlements elsewhere on here and other sites.

Have a good Christmas!

cheers,


Wayne

sandalwood_2

DotNetter wrote: »

Hi there,

My opinion is that a bird in the hand is worth 2 in the bush - a £2K payment to wipe of £7K is a great result I think and you may find that NatWest don't accept it and by then the offer from MBNA has been withdrawn (don't know if they can do that or not but would guess they can?).

Speak to CCCS or PayPlan or whoever your DMP is with and ask them for some advice - or Citizen's advice or National Debt Line??

I would write them a reply letter telling them that you wish to accept the offer on the condition that the defaults are removed from your credit file (depends how bothered you are about this) as that's the advice I've seen regarding final settlements elsewhere on here and other sites.

Have a good Christmas!

cheers,


Wayne

Thanks for replying,I know if I speak to payplan they will say that I need to distribute it fairly to all the creditors(11 of them) so I know it wont make a dent in it as much as paying off the £7k(obviously)If I decide to do it I will tell payplan that it was a gift from family and I had to pay of a debt completley otherwise I wouldnt have got it.
MBNA have said that I have until the start of Jan to accept,then it will go to DCA,so if I call them next week,I want them to send confirmation that the default will be gone from fiile or to say that they wont pursure me for anymore more cash and then I will send the cash.To be fair I reckon my credit rating is shot to pieces anyway so at least I can get one debt wipped out for around 20% of what I owe...(they did start at 50%).....
Think I am gonna go for it......

DotNetter

I need to send off my remaining Notification of DMP letters - only got HSBC and NorthernRock remaining (couldn't send them before due to various reasons).

Can anyone tell me the address I need to send the generic DMP notification letter to NorthernRock for the Together Mortgage product?

Regards,


Wayne

Twit_Head

Christmas Eve now and some will have fared better this year than others. However, may the peace and joy of the season be yours and the true meaning of Christmas touch your hearts and those of your loved ones.
Let's hope for a good year next year for all of us.
Merry Christmas to you and yours.:xmassign:

'Twitty'

mcrfan

This has been my first CWC - Christmas without credit.
It has been ok but did have a disaster with my laptop and had to fork out to get it repaired! Other than that I have done ok with lots of planning and use of Boots 3 for 2 offer!
How has everyone else done?

the_tooth_fairy

mcrfan wrote: »

This has been my first CWC - Christmas without credit.
It has been ok but did have a disaster with my laptop and had to fork out to get it repaired! Other than that I have done ok with lots of planning and use of Boots 3 for 2 offer!
How has everyone else done?

Hi there! Yes we struggled a bit this Xmas, had to borrow some money from my parents because we only started DMP in Oct. The Boots 3 for 2 was great! I was amazed at how much I could save doing the food shopping by making a list and sticking to it, and to be fair we have eaten reasonably well. This time last year I was running round like a headless chicken, chucking stuff into the trolley that I probably threw out 28th Dec!
Thanks again to all who gave me good advice about Xmas pressies for my (13!) nieces and nephews. I cut right down this year and everyone was doing the same so were cool about it.
Beans and toast for January but aw well, we got through Xmas in the end.

Hope everyone is coping well through this time of year, 2010 is not so bleak to look forward to, now DMP up and running. If we can protect that, then all will be well.

ttf x :T