Had responses - not sure what to do now ...

rescuethemall

Finally had responses from virtually all of my creditors after sending them pro-rata offer letters myself.

Barclays - for my loan & overdraft they have said my proposals were not acceptable and passing my debts to a debt recovery firm (havent heard from them yet).

Barclaycard - have cashed my pro-rata cheque I sent them, but have sent an abrumpt letter saying 'your proposal is not acceptable, your account is in order, please continue to make payments in accordance with your statements' - so basically have taken the £83 off of what my normal payment is (252) and expect me to make the remaining 169 by the 10th Aug.

Halifax - have agreed to my pro-rata offer for 2 months and will then review it.

John Lewis - wanted to see 3 months worth of salary slips and a copy of my tenancy agreement before considering p/r payments - havent heard from them.

Tescos credit card - havent heard a single thing from them

What would the best thing to do for me now, with the above creditors and their position? Will they simply put defaults on my accounts (which does that then automatically freeze the interest?), and not 'accept' my pro-rata payments, though do I still send them the pro-rata cheques?

Would I have any chance of an IVA what with Barclays having potentially 3 accounts (loan, o/draft & b.card) with the 75% rule?

Floss

Did you do a letter & statement of financial affairs, stating what your total debt is & what their percentage is?

Maybe a quick (:rolleyes:) visit to CAB may give you some more info....or someone else on here

rescuethemall

Floss wrote:

Did you do a letter & statement of financial affairs, stating what your total debt is & what their percentage is?

Hi, yes, I had it checked by the CAB before I sent it so they could all see that what I had said I could afford was really all I could.

Have to say I was v.surprised with the Halifax accepting it straight away - though have to say no surprises Barclays didnt!

rescuethemall

Barclays have cashed my two cheques I sent them - assume they will do the same for the loan payment one - though have also charged me £10 for my additions account, which has put me over my o/d limit ...:mad:

Conor_3

THey do not automatically freeze the interest - you have to negociate that with them. Regardless what letters they send, continue sending the amount you have offered them. It makes it harder for them to refuse an arrangement with the CAB/CCCS.

Xbigman

If you have an overdraft, loan and CC with barclays you should not pay your wages into a current account with them because they can offset one against the other and take everything in the current account. You should open a basic bank account with another bank ASAP (sorry if you realised this already).
Regards




X

rescuethemall

Xbigman wrote:

If you have an overdraft, loan and CC with barclays you should not pay your wages into a current account with them because they can offset one against the other and take everything in the current account. You should open a basic bank account with another bank ASAP (sorry if you realised this already).
RegardsX

That was one of the first things I did as the CAB said they'd simply take the proper payments as I had had an account with them for over 10 years - which of course I dont want them to.

I have a feeling that I'm going to have to head down the route of an IVA or bankruptcy with Barclays being such a pain already.

madduck

I've been on a DMP now for over 2 years. It was really stressful at the time - with the constant calls from the various companies, a barage of letters, the veiled threats. I did my DMP through CCCS and they were fantastic. If I was spooked by a letter or phone call - they would calm me down and tell me that I was paying all that I could and if any of them took me to court (which so far none of them have) the court would see that. They calmed me down when I got my first default notice - now it is water of a ducks back!!!

Whilst you've done a lot of the hard work yourself - I would really suggest that you contact CCCS and get their support. The hard work doesn't stop once you've sent out the proposals. It only really just starts, especially if you have a number of creditors. Whilst they may be difficult with you, CCCS know the score and will look after your interests.

They will also do regular reviews to see if your payments are affordable or if you can increase them. I've had no contact from any of my creditors for ages - its great - no phone calls late into the evening, no 9am phone calls on Saturday mornings from GE Capital (bless!!!). Did my updated income and expenditure, they accepted it, fantastic.

Two years down and about 7 to go!

rescuethemall

madduck wrote:

I've been on a DMP now for over 2 years. It was really stressful at the time - with the constant calls from the various companies, a barage of letters, the veiled threats. I did my DMP through CCCS and they were fantastic. If I was spooked by a letter or phone call - they would calm me down and tell me that I was paying all that I could and if any of them took me to court (which so far none of them have) the court would see that. They calmed me down when I got my first default notice - now it is water of a ducks back!!!

Whilst you've done a lot of the hard work yourself - I would really suggest that you contact CCCS and get their support. The hard work doesn't stop once you've sent out the proposals. It only really just starts, especially if you have a number of creditors. Whilst they may be difficult with you, CCCS know the score and will look after your interests.

They will also do regular reviews to see if your payments are affordable or if you can increase them. I've had no contact from any of my creditors for ages - its great - no phone calls late into the evening, no 9am phone calls on Saturday mornings from GE Capital (bless!!!). Did my updated income and expenditure, they accepted it, fantastic.

Two years down and about 7 to go!

Thanks for this post - I was wondering what to do next as the phonecalls have started (never answer witheld or numbers we dont know anyway, but they're starting to call about 6 times a day, last night at 8.55pm!)

I think I will have to take it a step further and contact cccs and let them take over as I think I have done as much myself as I possibly can - I do have the option of contacting the debtline branch of my local CAB - which does mean that I could talk to someone in person instead of phone = but from what people have said cccs are good.