Old geezers and gal's close to retirement on dmp's.!!

pure_dead_dopey

thanks Elsie

an update

Phoned lloyds, they have accepted our DMP from 30th march (started 1st Feb though) and they have written to us (no they haven't) can't stop interest entirely but will reduce to 0.482% in effect making the interest around £8, but this is a small account and we're only paying £14. Won't be moved on this, CCCS apparently deal with the wrong department and never get interest frozen???? Load of old rubbish obviously. Lloyds are just the pits.

RBS have accepted and will stop interest but not until they have gone through their "procedures", interest will be stopped on both accounts 14 and 19th May respectively. We were penalised by RBS because we paid all the minimum payments right up to the month we went into the DMP, be warned all you guys!!!

OH is putting off phoning Cap 1, can you blame him???

elsie52

Well at least you got the interest reduced. On our Lloyds, which were are biggest creditor, £15k, we are now paying them £303 per month and interest is £199. I asked if they would reduce or freeze interest and got a big fat NO. Due to the fact that we have always paid and never missed a payment, they will not play ball. They havn't defaulted me either.!! :doh:

The one thing that scares me, is that every year we have a review and Payplan submit our new Financial Statement..........At some point will the creditors who have stopped interest because we were in Financial difficulties, will they then review our situation and start to add interest.? :think: No one has said this would happen, but its something that is niggling me. We could offer to pay a little bit more every month, but again, if we do will that make matters worse?:eek:

pure_dead_dopey

exactly my fears Elsie, I can see a time when the CCCS payment is nearly the same as a minimum payment and then they will start slapping interest on again and we could end up back at the start. I think a way around is not to pay in the extra you have but save up for f&fs and try to get rid of them that way. We also have something called a DAS here in Scotland which is a legally binding DMP, ie they must stop interest and charges and court proceedings. CCCS never offered it to us but if I had known I would have gone for that instead of a DMP which has no protection. I'm holding it in reserve if anyone starts adding on huge amounts of interest, we will enter a DAS and they are done, just don't want to upset the boat at the moment as most have stopped interest and charges and are being nice.

Cap One OH ended up losing the plot with an incredibly rude man, asked for a call back from someone more senior..............I despair

elsie52

Your OH has my sympathy......I think there are some morons at the other end of the telephone. Just because we are in debt, doesn't mean we are stupid. (that's a contradiction in terms) and that they can just speak to us how they like.!! If you see what I mean.

We are now paying over the minimum payments to quite a few of our creditors now, its taken 2 years to do. I wish I had thought all this out at the beginning, instead of panicking. I think perhaps I could have worked it all out better without going on a DMP, but at the time OH was extremely busy, and I was left to deal with everything. It comes back to the old hindsight issue again.!:(

roni08

elsie52 wrote: »

Well at least you got the interest reduced. On our Lloyds, which were are biggest creditor, £15k, we are now paying them £303 per month and interest is £199. I asked if they would reduce or freeze interest and got a big fat NO. Due to the fact that we have always paid and never missed a payment, they will not play ball. They havn't defaulted me either.!! :doh:

The one thing that scares me, is that every year we have a review and Payplan submit our new Financial Statement..........At some point will the creditors who have stopped interest because we were in Financial difficulties, will they then review our situation and start to add interest.? :think: No one has said this would happen, but its something that is niggling me. We could offer to pay a little bit more every month, but again, if we do will that make matters worse?:eek:

When I had problems with my creditors charging high interest even though I was paying a good amount each month through my DMP, I requested their complaints procedure and then complained very loudly by letter. I also stated that as their methods were very unfair that, if they were not willing to reconsider, I would make a complaint about them to the Financial Ombudsman's Office. They still wouldn't back down, so I did complain to the FO and got satisfaction. I can't guarantee that it would work for you but it is certainly worth a try.

elsie52

Thanks for that advice roni08.... I may just do that. Anything is worth a try. in just over 2 years they have had over £7200 in payments, and yet our account has only reduced by £2k......that's £5200 in interest. Just when do they decide to be helpful.!!

Perhaps they never do.!!

pure_dead_dopey

go for it Elsie, get mad and try to get even, by the sound of it you could possibly get some of that money back from the FO, its got to be worth a try, no one can say you've not done your best to get the money paid back.

Update Cap One, ignoramous's boss phoned to apologise, but insists they still do not have our stuff from CCCS, CCCS sending again to-day, they said its very typical of Cap One why???????

elsie52

I'm probably just a wimp........even after being on a DMP for over 2 years, I am still on edge about rocking the boat. Yet, all I seem to do is think about debt, I eat, breathe and sleep debt.!! I can't wait to get it finished.

If anybody ever offers me credit again - I won't be responsible for my actions !!! :mad::mad::mad: I get really concerned when I hear the girls at work or other family members, talking about getting a credit card. :eek: Its all downhill from then unless you are really disciplined.

pure_dead_dopey

Elsie go for it, what is the worst that can happen??? they start adding interest? they never stopped sell you to a DCA, might be better off, take you to court why????

go for it, if you just let them get away with it, they will take take take, remember these are banks we're talking about.........

nanna58

:(Any hugs about? dont know why but could burst into tears today.
ah well if i do that i wont be able to type:(