DMP Mutual Support Thread (Part 6)

azizi47

I am a Debt Free Bird

rayday2

Hello folks!

Thought I should show my face, I think this possibly year 3/4 for me now I may upset myself and work out my debt free date, but I can honestly say on the other side of it that I have been 3/4 years living without taking further debt on.. that sounds better!

Anyway hello to everyone and a quick question has anyone heard of the CASHflow scheme, I have one company (yes a catalogue!) who are obsessed with it.

For those who remember me, still got Lloyds on the go, and touch wood still 0% interest although I do have to write again to them as I have a letter accepting lower amounts and yet the statements think they are getting more, I was just waiting till I get both current statements in so I can write the same letter save some time (we have two accounts with them for credit cards).

lauren123

Hi, This is my first post in here and since deciding to take out a DMP with cccs I have recieved my letter and agreement from them and have a few questions Im hoping some of you can help me with. Would be much appreciated.

1) They want all statements etc from my creditors...what do I do regarding my overdraft and family loan as I have no statements.

2) The letter Iam to send to all my creditors telling them about my DMP tells me to put a date in that my DMP starts...what date am I to put in?

3) The letter tells me to cancel any direct debits, do I do this now? Am concerned about charges etc

4) I have a nationwide loan, my last payment is the 27th of this month, do I leave the direct debit and pay or cancel as this was included in the DMP.

5) What do I do about my debit card? Do I open another basic account to get tax credits paid into etc as my current account has the huge overdraft Im paying off with DMP.

Sorry there's loads, would ring them but shut at 5pm and want to get the ball rolling! Thanks in advance. Lauren x

cocker100

viv. wrote: »

Well all was going ok until Link Financial jumped on the band wagon. They have taken us to cort and been issued with the judgement and the judge has sent the paperwork to say that we must pay the full amount by the 20th May which obviously is not possible. Does anyone know what I have to do to ask the court to consider a reduced monthly payment in accordance with my DMP. I have called my DMP company bt to be honest they are bloody useless and I really dont trust them to do it and get it right. I thought the form might be a N245? and also as it is joint do we both have to complete a form?
HELPPPPPPPPPPPPP LOL

Hiya!

Did you not defend the claim? It seems very strange that the judge has asked for full payment when you are on a DMP plan. After all, you are showing that you are repaying your debts at a rate that you can afford. I think something has gone wrong here. Were you present at Court when judgement was made or was it made in your absense?

Have you checked to see if this debt is actually enforceable by a Court? I dont know if it is too late now, but you may be able to have the judgement set aside if there is no valid credit agreement or if you were issued with a defective default notice for the debt.

Court procedures are not my strong point as i've not been taken to Court yet. I would suggest posting this over on the Consumer Action Group Website. There are lots of people on there will experience of Court who will be able to assist you.

Cocker:)

newbeginning_2

lauren123 wrote: »

Hi, This is my first post in here and since deciding to take out a DMP with cccs I have recieved my letter and agreement from them and have a few questions Im hoping some of you can help me with. Would be much appreciated.
Hello :wave:

1) They want all statements etc from my creditors...what do I do regarding my overdraft and family loan as I have no statements.
I had a couple of loans, I just gave them the balance and account number and they were fine with that


2) The letter Iam to send to all my creditors telling them about my DMP tells me to put a date in that my DMP starts...what date am I to put in?
You're probably going to be 1st July now, I'd say it's too late for a 1st June start

3) The letter tells me to cancel any direct debits, do I do this now? Am concerned about charges etc
Yep, cancel them, any payments due before DMP starts send a token payment of between £1 and £5, stash any extra as an emergency fund. They may charge, but tbh they probably will when DMP starts anyway

4) I have a nationwide loan, my last payment is the 27th of this month, do I leave the direct debit and pay or cancel as this was included in the DMP.
Up to you on this one, if you can afford to pay it and it's the last payment, I'd say pay it and just let CCCS know it's paid off now, If you can't afford it cancel it and send a token payment.


5) What do I do about my debit card? Do I open another basic account to get tax credits paid into etc as my current account has the huge overdraft Im paying off with DMP.
Yeah, move to a bank you have NO debt with, do this before you let them know about the DMP otherwise you may find the bank helping themselves to the tax credits

Sorry there's loads, would ring them but shut at 5pm and want to get the ball rolling! Thanks in advance. Lauren x

Hope this helps x

lauren123

Thanks very much, sorry to sound dumb lol But am new to this. What is a token payment and how do I make one? :beer:

cocker100

lauren123 wrote: »

Hi, This is my first post in here and since deciding to take out a DMP with cccs I have recieved my letter and agreement from them and have a few questions Im hoping some of you can help me with. Would be much appreciated.

1) They want all statements etc from my creditors...what do I do regarding my overdraft and family loan as I have no statements.

2) The letter Iam to send to all my creditors telling them about my DMP tells me to put a date in that my DMP starts...what date am I to put in?

3) The letter tells me to cancel any direct debits, do I do this now? Am concerned about charges etc

4) I have a nationwide loan, my last payment is the 27th of this month, do I leave the direct debit and pay or cancel as this was included in the DMP.

5) What do I do about my debit card? Do I open another basic account to get tax credits paid into etc as my current account has the huge overdraft Im paying off with DMP.

Sorry there's loads, would ring them but shut at 5pm and want to get the ball rolling! Thanks in advance. Lauren x

Hiya and welcome to the thread!:)

Firstly, you will need to open a new basic "safe" bank account that is not connected to any of your creditors. You can then transfer any payments that you receive into this new account once it is open and running. If you dont, then all your tax credits/wages etc will be swallowed up by the overdraft.

All direct debits should be cancelled now. You will incur charges, but this is par for the course with a DMP. You can always reclaim these back at a later date. Instead of the normal payment, send a token payment of £1 with a letter stating that you are entering into a DMP with CCCS to all of your creditors. DMP's normally take at least a month to set up, so I would say that the DMP starts on 1st July.

As for statements, send your lastest statement for each creditor. Your last bank account statement will do for your overdraft. Not 100% sure, but not sure if family loans are allowed on a DMP, but I maybe wrong.

Personally I would clear the Nationwide loan if there is only 1 payment left. This will allow more surplus income to go into the DMP after it is cleared and your other creditors should be more likely to accept the reduced payments.

Think that covers everything!;)

Cocker:)

lauren123

Thank you, would you mind explaining how I send payment tokens? :beer:

newbeginning_2

lauren123 wrote: »

Thank you, would you mind explaining how I send payment tokens? :beer:

Cancel your direct debit and send a Postal Order for £1 to address on statements for the credit cards along with a letter telling them about DMP, I sent mine with a copy of the DMP Notification letter CCCS send you.

Hope this helps

lauren123

Thank You very much. lauren