DMP Mutual Support Thread (Part 6)

gabriella90

cheesedoffwithdebt wrote: »

Tell me about it!! The same day I got a default from Crap west, I also got a jolly little letter from the branch with the logo "here to help" offering me loan facilities- what drugs do the banks take please?

My experience is that the banks are the most aggressive, and least willing to accept DMP's. Crap west were never helpful at all with me- the manager was [probably as useful as a crocheted condom, and since my DMP started a year ago they've continued to "help" by adding interest and charges. Actually is there still any mileage in approaching the Ombudsmans office re financial hardship?

Hi cheesed,

Sorry to hear you've been having a bad time. You could maybe try sending the freeze interest wipe charges letter again. Apparently when they sell the debt on you have a good chance of the interest and charges stopping. Sorry i can't help anymore.

good luck, keep your chin up :A

stella63

cheesedoffwithdebt wrote: »

Tell me about it!! The same day I got a default from Crap west, I also got a jolly little letter from the branch with the logo "here to help" offering me loan facilities- what drugs do the banks take please?

My experience is that the banks are the most aggressive, and least willing to accept DMP's. Crap west were never helpful at all with me- the manager was [probably as useful as a crocheted condom, and since my DMP started a year ago they've continued to "help" by adding interest and charges. Actually is there still any mileage in approaching the Ombudsmans office re financial hardship?

Well I'm gonna go the whole hog on this one!! When I first started my dmp my overdraft wasn't over the reserve limit. The missing payments would have taken me further under it. By not paying in the money, the reserve charges have taken me over the reserve limit so now they're charging me even more!!! But where is the money?? If they're not careful i'll be accusing em of theft, fraud or anything else I can think of!!!!! I too have had the lovley 'here to help' message!! Are they havin a laugh!! Don't ya just love em!!
Keep smilin, we'll get there in the end

Twit_Head

pinkpower wrote: »

Haven't posted here for a while - a good sign as things have been going well. But ... I got my Barclaycard statement today and noticed that they have increased the interest rate from 6% to 12% - with no warning at all. Has anyone else had something like this hapen, and if so what did you do. Thanks PP

Not had interest increased whilst on DMP but one C/C company bumped my interest rate up a tremendous amount in the interim period period between not using the card and notifying them of DMP.
Think I've seen sometime in the past on this thread that creditors may increase your interest rate when your DMP payments get close to where your monthly repayment level for the debt would be if you had honoured the original agreement.
Can only suggest maybe write letters, stating your reliable history on DMP and possibility of jeopardizing of plan with other creditors? Would state your willingness to repay debt etc.etc
Good Luck, hope you get something sorted.
'Twitty'

Twit_Head

mozzyc wrote: »

Have put this post here to see if everyone who has there own plan going has any advice. Cheers

Hi mozzyc
Re:self-administered DMP - sorry can't help as with CCCS but hope someone comes along to help with stephy110288s questions soon.
'Twitty'

JES_F1

Hello everyone :wave: It's been a while since I popped in here

All's going really well with my DMP ... I can't believe it's been a full two years now!

M&S are my biggest creditor - I started my DMP owing them about £10,000 but they've been brilliant, quickly accepting the DMP for 12 months at a time. I've just had confirmation that they're accepting it for a third year.

:j

Good luck to everyone just starting out on their DMP.

gabriella90

JES_F1 wrote: »

Hello everyone :wave: It's been a while since I popped in here

All's going really well with my DMP ... I can't believe it's been a full two years now!

M&S are my biggest creditor - I started my DMP owing them about £10,000 but they've been brilliant, quickly accepting the DMP for 12 months at a time. I've just had confirmation that they're accepting it for a third year.

:j

Good luck to everyone just starting out on their DMP.

wow thats Fab,

Have they stopped your interest? Passed you onto a DCA or defaulted you, or just carried on the DMP?

Well done its my 1st month of my DMP Payments have gone 2 /3 accepted.:T

pwally2

Some good news tax office and work have sorted out my tax problems and have got a nice tax rebate of over £800 only snag is check my bank account only to find not been paid!!!! GRRRRRRRRRRRRRR!!!!!! Waiting to ring work and find out !!!!!! is happening not a happy chappy even if it is my birthday!!!

Jamesdeer001

Hi

I entered into a DMP with the CCCS in Novemeber and have made regular payments since. Most of my creditors have frozen, or severely reduced my interest. Unfortunately, HSBC and LLoyds have not.

HSBC represent my largest creditor (about 45% of the debt) and it is broken up between a loan, credit card and debit card. They are still charging full interest on the credit card (22.9%) and debit card (having already applied the interest to the loan when repayment began). DMP repayments on the credit card are lower than the interest on the credit card, so the overall debt is increasing. Similarly, the repayment on the debit card barely covers the interest charged by HSBC.

I've tried writing to them asking them to reduce interest but all I receive is some standard letter saying they've tried to contact me by phone. They have not, but anyway, I've asked to continue correspondance via post due to the harrassment I received by phone when first suffering difficulty.

I face a similar problem with LLoyds, though they represent a much smaller percentage of the debt. The interest of the credit card is larger than the payment I can afford to make to them.

With Lloyds I also face a different problem with my debit card. I'm making payments to the debit card, but the payments don't seem to be crediting due to some payment block that appears to have been placed on the account. It has meant for some time that no payments into or out of the account can be made (except interest being charged).

So in summary, my questions are: Has anyone faced similar difficulties with HSBC and how did they deal with them? Does anyone have an address for HSBC collections or email address for someone more senior who has the power to freeze or reduce interest.

Similarly for Lloyds, does anyone know who to contact within Lloyds. Also has anyone experienced this apparent payment block?

Thanks very much in advance

pure_dead_dopey

bobbyday wrote: »

Hi

I entered into a DMP with the CCCS in Novemeber and have made regular payments since. Most of my creditors have frozen, or severely reduced my interest. Unfortunately, HSBC and LLoyds have not.

HSBC represent my largest creditor (about 45% of the debt) and it is broken up between a loan, credit card and debit card. They are still charging full interest on the credit card (22.9%) and debit card (having already applied the interest to the loan when repayment began). DMP repayments on the credit card are lower than the interest on the credit card, so the overall debt is increasing. Similarly, the repayment on the debit card barely covers the interest charged by HSBC.

I've tried writing to them asking them to reduce interest but all I receive is some standard letter saying they've tried to contact me by phone. They have not, but anyway, I've asked to continue correspondance via post due to the harrassment I received by phone when first suffering difficulty.

I face a similar problem with LLoyds, though they represent a much smaller percentage of the debt. The interest of the credit card is larger than the payment I can afford to make to them.

With Lloyds I also face a different problem with my debit card. I'm making payments to the debit card, but the payments don't seem to be crediting due to some payment block that appears to have been placed on the account. It has meant for some time that no payments into or out of the account can be made (except interest being charged).

So in summary, my questions are: Has anyone faced similar difficulties with HSBC and how did they deal with them? Does anyone have an address for HSBC collections or email address for someone more senior who has the power to freeze or reduce interest.

Similarly for Lloyds, does anyone know who to contact within Lloyds. Also has anyone experienced this apparent payment block?

Thanks very much in advance

Hi

Lloyds "get the money back at all costs" department is in Andover, but they told me that you can't contact them by phone and that the normal collections people can't contact them by phone either. Seems a very strange way to run a business to me but hope this helps. My OH did eventually get a phone call where he was able to sort out his account, they wouldn't freeze interest but did reduce from 26.9% to 6%, which will help a bit. Your are doing well to be this far along, sorry can't help with HSBC as thankfully we don't have anything with them.:)

Jamesdeer001

Thank you for your reply

Would your suggestions with Lloyds be then to ring them up? If so, any idea which department I should request speaking to? WHen I've spoken to general advisors who you get through to when you first ring, they have been unaware of the block on my account (took about 10 advisors to work this out) so would rather not be passed from department to department. Similaraly, I doubt they'd have the power to freeze interest and just gurgle out some company spiel!

thanks