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

Nanny25k

Hi Everyone - have been away with work this week so have not been on here since.........I don't know when!!:(

I've really missed you all:):)

Well best go and get a glass of chilled white, and trawl back through the pages to see what I've missed!!!

Catch you later:wave:

Nanny25k

:think: Helloooooo........................ Where are you all??

Mama - sorry to hear about SIL, I'm sure you will be a fantastic support.

Gabs - hope things are a bit better now - can only reiterate what everyone else has said, these things do catch up with you - my DH gets into the grumpy old man syndrome, especially when it comes to money, it's all my fault we are in this situation! He has enjoyed the money too, something he tends to overlook!:mad::mad::mad:

Polly - I really do hope you are staying around - we're not a bad bunch - I think it is as has been said before that there are a lot of newbies on all at once:):)

My DH has stepped over the threshold of Aldi - but was in a total daydream yesterday when we played beat the cashier!! I think she had taken some Go Faster pills, or she was driving in the Grand Prix, even I couldn't keep up:rotfl::rotfl:: And hello to everyone I've missed, LJM hope the ankle is improving everyday, and I love ConDem!!

It's been a very quiet week with the creditors - they must have al calmed down now I've made 3 payments:T:T

Catch you all later, xx

mikon

Hi everyone

You will have read in one of my previous threads page 75/76 that CITI cards have charged me £398 interest and charges after receiving my token payment.

I have drafted a letter which I plan to send to them could you please all have a read of this and let me know your thoughts and if you think it will cause more problems for me. Please be honest and give me your views.

LETTER TEMPLATE


CITI Cards
Citi Finanacial Europe PLC
PO Box 49920
London
SE5 7ZF


Date 17 May 2010

Dear Sir/Madam

Account Number:

I am writing regarding the interest that has been charged to the above account an amount of £386 plus £12 charges.

I wrote to you on the 4th May 2010 and subsequently rang you to explain that I was in financial difficulty due to over commitment and then compounded by a reduction in income. I notified you that I am unable to meet the required minimum monthly payment and am seeking financial advice regarding my situation from the Consumer Credit Counselling Service (CCCS) who offer a non fee-charging Debt Management Plan, which I hope to start on June 1st. My DMP Ref No. is *********** .

On the 10th May 2010 I sent you a Notification of Debt Management Plan. On Saturday the 15th May I received a statement from yourselves which showed you had applied interest and charges totalling £398. I only have £611.00 disposable income to pay all my creditors at the end of each month and this is to be pro rata across 11 creditors including yourself.

Under guidance issued by the Lending Standards Board, lenders will consider reducing or freezing interest and charges. Lenders will also accept token payments where appropriate.

Section 157 of the Lending Code November 2009 states that “where a not-for-profit debt advice agency has formally notified a subscriber that the customer is in serious discussion with them on a draft debt repayment plan then the subscriber should suspend collections activity related to the customer’s current account, credit card and/or unsecured personal loan while these discussions continue, provided that they are concluded within 30 days.”

I am taking responsibility for my debts, and keeping in regular contact with my creditors and aiming to pay what I can to my creditors.

Recently the Ministry of Justice has been working with the British Bankers' Association (BBA) and the Consumer Credit Counselling Service (CCCS). Justice Minister Bridget Prentice said “firms should consider reducing or stopping interest and charges when a customer provides evidences that they are in financial difficulties.”

I am asking you to look at my financial difficulties sympathetically and positively and follow
the above guidance and revoke the interest and charges made to my account and freeze all future interest and charges /or any other charges accruing on the above account.

Adding interest and charges is just compounding my debts, and extending the period over which I can pay off my debts. It also contravenes the above guidance issued by the Lending Standards Board.

I have signed paperwork to give CCCS full authority to act on my behalf and they will in the next week or so be sending you a copy of my income/expenditure statement which will give you a full and detailed overview of my statement of affairs.

I want to make it clear that I do want to repay my debts but at the present time I am not in the position to pay the minimum monthly payments.

As other people answer the telephone who are not aware of my financial situation, ie, my children. I would ask that all correspondence between us be in writing. CCCS have advised me that I request that my telephone numbers be removed from my account/records.

I hope you will reconsider the charges and freeze the interest and charges and work with me and CCCS positively to reduce the debt owed to you.

I look forward to hearing from you in relation to this matter.

Yours faithfully


Enclosed copy of my SOA as compiled by CCCS.

Thank you for your assistance.

pure_dead_dopey

Morning All

Good letter, would agree with Ted that you mention sooner that CCCS will be contacting them this week, other than that, I see no problem, its a good letter, factual and assertive. i found Citi to be particularly chaotic, no one knew anything, so I would try to get a "name" to send it to, just a thought, try googling to get someone's name. Can't help, as although they have stopped out interest, they never actually wrote to us.

Have a good day all, welcome back nanny, Vic where are you, Gibbs, True and nat all posted missing, yoooo hooooo

true27

:hello: Morning luvvies!!

Sorry have been AWOL - can only blame work !!

:grouphug: Mama, Mama's SIL and PDD xxx

Soooooooo glad I don't have Citi to deal with, they sound like a complete nightmare! Good letter though Mikon, hope it works!

I've made some more substantial payments today :j only £70 accross the bunch but thats better than a quid each I guess! I haven't heard a peep from any of them for an acceptance or whatever although HSBC have blocked my internet access and I *think* they just rejected the standing order that I sent them....mmm very odd.... need to pop into the branch later to pay some coppers of HFC so I'll speak to them in a bit.

Interesting idea about the MP Teddy - our previous LibDem might have done something to help but I can't see our new Tory Toff Landed Gentry type MP doing anything that won't benefit himself!! I sold a couple of bits on ebay so am off to the Post Office for something that isn't to buy postal orders :j woopywoop! Thats £20 back in the emergency fund too

Big hugs and love and sunshine all round xxx

pure_dead_dopey

Ted

that's what Egg did with us, soon as the first payment from CCCS went through they stopped interest, and we had FOUR accounts between us, so substantial amounts. maybe they are worried about their CCAs????

true27

tedsd wrote: »

Hello True, bet it felt good paying a bit extra...:T where are you up to now, have you sent them your SOA etc or are you still on tokens but bigger ones? I hardly had any acknowledgement of my token payments at all... Egg phoned and said that when they get my 1st DMP payment they will look at stopping interest so that's good. They were really kind actually, I was a bit taken aback...

Enjoy your Post Office visit, I forget it's not just the Token shop!

It feels great ! The payments I've sent are about the same as the payments that they will get in the long term, we would be on a low start DMP if CCCS were involved, so I'm hoping to hear something now.

Have just spoken to HSBC re: the internet banking and apparently they've closed my account and sent it to their debt collectors - Metropolitan? I can't think I've heard of them, but at least I've got a good chance of getting the interest and charges stopped !

nataz

*shyly waves hello*

Sorry guys for being AWOL for a while, took all evening to catch up with you all and guess what, Ive now forgotten it all! Ooops

No excuse for being absent, so all hand slapps accepted

Im glad to see we've got lots of new faces, seems we just keep getting bigger and bigger which is fab. If there are any newbies who want a paddle number, pm me and Ill add you to the raft :rotfl: paddle included

Nothing much DP wise to tell you about, everyone has now sent me their default notices and Im hoping with the extra cash to be debt free in 2013, thats 5 years earlier than expected which is soooo cool :D:D

On a more serious note, has anyone heard from Pollywoggle? I pm'd her last night so hopefully she'll get in touch. Im quite upset that she thought she was being ignored. I know its hard when there are lots of new faces all appearing at the same time. Hopefully she'll be back.

A big hello to everyone and Ill promise not to disappear again

*wanders off with head in hands*

true27

tedsd wrote: »

PDD, do you know what happens with interest on loans as my loan amount owed currently includes interest up to the end of the loan in 3 years time?? Am I being ridiculously naive in thinking they will take off the next 3 years interest??

Loans usually have front loaded interest so I would imagine it would be included in the full amount, I'd be really surprised if you got it back - sorry Teddy

true27

nataz wrote: »

*shyly waves hello*

Sorry guys for being AWOL for a while, took all evening to catch up with you all and guess what, Ive now forgotten it all! Ooops

No excuse for being absent, so all hand slapps accepted

Im glad to see we've got lots of new faces, seems we just keep getting bigger and bigger which is fab. If there are any newbies who want a paddle number, pm me and Ill add you to the raft :rotfl: paddle included

Nothing much DP wise to tell you about, everyone has now sent me their default notices and Im hoping with the extra cash to be debt free in 2013, thats 5 years earlier than expected which is soooo cool :D:D

On a more serious note, has anyone heard from Pollywoggle? I pm'd her last night so hopefully she'll get in touch. Im quite upset that she thought she was being ignored. I know its hard when there are lots of new faces all appearing at the same time. Hopefully she'll be back.

A big hello to everyone and Ill promise not to disappear again

*wanders off with head in hands*

Hey up stranger - we missed you!!

Great news on bringing the DFD forward, thats fantastic :D:D!!!

I haven't seen a post from Pollywoggle, hope she does come back....

xxx