DMP Mutual Support Thread (Part 6)

glitterlea

leese2504 wrote: »

Not thick at all!! All this is new to you, we have all been their anyway have you missed any payments yet with the creditor you hold your bank account with? Incase you aren't sure why I ask, a creditor with whom you hold a bank account with, can basically dip into your bank account and help themselves to any available money to put towards your debts. So for instance, I had a bank account with HSBC, I also had debts with them that I couldn't afford to repay, if I hadnt changed bank accounts, then HSBC would of almost certainly dipped into my bank account and helped themselves to my wages etc to put towards my debts. I hope this makes sense, I aint so good at transferring things from my head to my fingers :rotfl:

Thank you - that makes perfect sense now
No, I haven't missed any payments yet. My account is with lloyds tho and so are 2 of my creditors, my loan and my credit card :rolleyes: I've applied for a new account with Barclays though so hopefully I get that up and running soon!!

Thanks again
x

libby316

Bit of advice please- how easy is it to reduce the amount you pay into DMP?
I am currently thinking about entering into one and my mortgage has recently been reduced to interest only but this is only a very temp measure and can be put back up to repayment in the next few months. This would make a big difference to the amount I can pay into my plan.

Also has anyone had an success on dealing with creditors themselves to reduce payments/ freeze interest, rather then going through CCCS etc?
Thanks

scouselad1974

Hi

I have a lot of creditors and have decided to get CCCS involved now as my biggest creditor would not accept any offer that I made unless it came through CCCS.

Before I decided on this option I did manage to get quite a few of my creditors to accept reduced offers and freeze interest, it did take them quite a while to reply to my letters but at least they were willing to help me. I sent them an SOA and the standard letter from the National Debtline Website.

TotallyBrassic

Just thought it was worth updating my DMP tale. After 6 months all is well, I have not had a phonecall since November when my first payments went out, so far 2 debts of 13 have been passed on to Debt collection agencies. Blair, Oliver and Scott who couldn't be nicer and hold our largest debt of 7,500. And Moorcroft who I have to say have been lovely. they were very helpful when I rang to tell them about the DMP, and they have just accepted the payment offered. I have to say my heart did sink when I realised Halifax had sold a cc debt to them, but no probs at all so far. I think the key is to be straight with people and don't hide from the debt. I have found that being upfront and polite to creditors seems to reap rewards.
Don't know if this helps anyone, but we are living again rather than existing, I don't think of money first thing in the morning and last thing at night, and with the help of this forum we are finally learning how to manage financially.

Have a great day folks,

Mandyx

crafty1

Hi, just started on a DMP with CCCS second payment due to them 1st July, all going ok so far.
Just one question I have - CCCS allow £21 for sky in the budget, although I told CCCS £21 we're actually spending more than this on sky and just taking the extra from our shopping budget which is quite generous - is this ok or would we have to send CCCS bank statements when we have our review or would we ever be required to show bank statements in court if anything ever went that far. Or are we entitled to spend money as we want as long as we stay within our budget?

Thanks for reading x

gaztop26

I have another question regarding my DMP, I've received a letter from one of my creditors acceping my DMP but they state that my first payment is due by 11th July, now CCCS don't distribute to the creditors until the end of the month, so is it up to me to let them know of this or will CCCS inform them.

I'd like to know the answer to this also.

CharliesAngel

What a lovely hot day it is today!!! :j Have a smile on my face for once.. hope everybody else is okay

CA xxx

scouselad1974

The guy from CCCS told me earlier that all of the creditors know that CCCS do not distribute until 25th so there is no need to inform them of this

smcshane

Just to reiterate the above - I phoned next directory as their intial letter said payments had to be made by the statement date (23rd), when I spoke to them they said not to worry as they have a lot of people with CCCS and aware funds go out on 25th.

Sx

smcshane

Spoke to Egg today after my email last week and they confirmed that the DMP info had been received and Default notice issued (first of many but at least it will come off sooner), so now all interest would be stopped no indication that it was being passed to a DCA as confirmed they were accepting the pro rata payment:beer:.

Think I must have ESP as when I got home it was in my post, all looks pretty standard one thing I did note is that it said the OFT info sheet on defaults should be included, but its not, should I request it?

Still not heard from Barclaycard since my email on 12th and nothing more from Barclays regarding their accounts.

Next directory have said I would be better paying them by CCCS and not offering a full and final, as they would record it as only partially settled. Not sure what to do with that one now as its a small balance in comparison to others so think I will waiting until the autum and then get rid, at least it will be another £10 for my CCCS payment, not much but every little helps.

Take Care everyone on this glorious day:D
Sx