Without a paddle... support for anyone starting a DMP in 2010 (part2)

Hopelessly_Hopeful

Morning Peeps

Just caught up with reading

Welcome to the Newbies

Hugs for Mama and PDD

Sorry not had much time to post and I'm going to be really busy for the next week too but wanted to pop in to say hello to everyone and hope you are all keeping in there.

HH xx

pure_dead_dopey

thank you peeps, Oh is on the job, so to speak, hadn't thought of the ice cream, mmmm

ljm23k

Morning everyone

Mama, so sorry to about SIL, I can't find the hugs so sending you a verbal one.

Seems like I started quite a conversation yesterday about mortgages/council tax etc, sorry I missed it. So I will clarify why my mortgage is so small.......

I am 36, jumped on the property ladder straight out of uni at 22 by buying a wee council flat with now DH. Stayed there 3 years before moving here. This house cost £48,000 new build 3 bed detatched. The reason houses were so cheap here is simple, N Ireland was at war. House prices started to rocket shortly after this and my last valuation , before the market collapsed was £240,000, at least half that now.

On the other hand, I think the cost of living here is higher. We only have one electric supplier so they can charge whatever they want. Very few locations can get gas heating, most houses are oil heated or coal so there is v little competition, and as you know, we have no Aldi and have only recently got Ikea, decorating was v expensive. Cheap broadband deals are useless to most too as there is no service.

Just though I'd mention all this before everyone steers their boats this way!!

mikon

Morning Everyone,

Not be online for a few days so still catching up with the threads. The past week has seen my postman working overtime the mail has been continuous.

Need an answer to a question.

Most of the creditors have said they will suspend my interest charges some said they would but have not 2 in particular

M & S Money & CITI CC. I owe Citi CC £12,000 and they have cashed my £1 token but charged me £386 interest and charges and now want a monthly minimum payment of £1424 next which is not payable so what will the charges be next month. M & S Money have charged interest also.

Question Will I be able to claim these charges back once the DMP is up and running? If not these type of charges/interest are compounding the problem. This is a big worry as the period of time it takes me pay off my debt.

Has anyone experienced these problems.

Any help much appreciated.

pure_dead_dopey

mikon wrote: »

Morning Everyone,

Not be online for a few days so still catching up with the threads. The past week has seen my postman working overtime the mail has been continuous.

Need an answer to a question.

Most of the creditors have said they will suspend my interest charges some said they would but have not 2 in particular

M & S Money & CITI CC. I owe Citi CC £12,000 and they have cashed my £1 token but charged me £386 interest and charges and now want a monthly minimum payment of £1424 next which is not payable so what will the charges be next month. M & S Money have charged interest also.

Question Will I be able to claim these charges back once the DMP is up and running? If not these type of charges/interest are compounding the problem. This is a big worry as the period of time it takes me pay off my debt.

Has anyone experienced these problems.

Any help much appreciated.

Morning Mikon

Citi were very peculier with us, they continued to add charges and when we phoned they denied all knowledge of the DMP, CCCS, financial difficulties etc. However once the first payment went through from CCCS, they accepted and stopped interest. So they are unpredictable.

M&S also stopped interest but did not accept (????) but take the payments every month and don't charge interest, they have defaulted me though.

So I think the answer is that you have to see what happens when they get their first payment, most just want to be sure you are serious about the DMP and are really going to pay what you say, which if you think about it is fair enough?

mikon

Thanks for the reply PDP.

I appreciate they need to know that your serious about a DMP. However can you claim these charges back? Also if interest is still added my debt is increasing and what started as a DMP may move to a Low Start DMP or even an IVA if that is possible. The reason I say this is that the period of repayment determines the if you are on a DMP or Low Start DMP and if its to long then its a IVA which I do not want.

Do you think it is worth writing to them or should I let it take its natural course? Hopefully CCCS should have made an offer before their next payment.

Regards

pure_dead_dopey

Hi Mikon

Its early days yet, I would wait until they have received the first payment. and no you can't claim this money back, that is not how a DMP works, you can ask and one of our creditors did credit back some interest. And you are on a DMP, no one is going to force you to change to an IVA which are not that suitable for homeowners as you have to release equity at some point on an IVA. I would give them a ring once the payment has gone through, as long as you can do calm, assertive and organised, which you know you can!!! As I said Citi seem to be chaotic and I understand they have just sold their CC business again to someone else, so once your payment has gone through, have a go, can't hurt.

PDDxx

mikon

Thanks for the response PDP. I just cannot understand where these peoples financial sense comes from.

CITI are now asking that the minimum payment next month is £1,424 what will be the interest on that? More debt

M & S are the same. This is just ridiculous not resolving my debt just running it further up.

NAME & SHAME I wonder how many people these financial corporations have driven to suicide. Shame on you all we are trying to reduce our debts on our terms and you just do not like it. They want to remain the dominant players well they can try and I may have my down times but the Bas****s will not grind me down and if push comes to shove I will ask them to sue me in court and engage them face to face. This is not easy and some days I have been down and sick with wirry and letters from CITI & M & S do not help but hey ho here we go. Sorry for the rant but It grieves me and I need to get it off my chest.

Please Name and Shame your Creditors.

pure_dead_dopey

ooh ted you are such an information finder, i can never remember where I saw it. i read the stuff and take it in but am useless at directing people to find it, you are a star!!!

bluesnapper

Hi All,
got the first letter back from a Creditor since sending my CCCS letters out, last week.
The infamous Capital One claim they won't accept my standard DMP letter, because it doesn't have the 'correct' signature on it. (:rotfl:)

Even though :
The CCCS pro-forma letter was signed with my normal (only) signature;
I sent it with a copy of my last Credit Card statement;
and a scan of the credit Card

Any opinions or facts on :
Is this a delaying tactic, or a scam to obtain a signature and abuse it ?
Is there any legal or contractual requirement for a 'correct' signature on DMP letter?
(They have never required a signature on card transactions or payments, or increases in credit limit, and now suddenly, it's a deal-breaker ).

As with 99% of these things , it arrived on a Saturday , so NOONE to discuss with at CapOne or CCCS.

grrrr...fume

Going to the allotment now to dig a bit, and get it out of my system
(and fantasize about shallow graves for bankers ..)

BlueSnapper Out!