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

eyeopener2

ljm23k wrote: »

If anyone is selling books you can try greenmetropolis. I've sold loads there, you get £3 for every book.

Thanks ljm, i'd seen Green metropolis mentioned around these parts so I will take a look. Anything not nailed down is going!:D

Professor_Pat_Pending

jeddy5 wrote: »

Latest update:
I have just received my credit card statement from HSBC and despite my letter requesting they stop interest they are still charging interest on the account. This is starting to mount up as arrears. My original balance was £6,000.00 and is now £6,270.00 and they are asking a minimum payment of £525.00 which obviously I cannot pay.

I have received several phone calls from them in the past week and despite them saying they know of the situation regarding myself being on a DMP with PayPlan and that the calls would now stop, they still keep persisting with phone calls and I have to explain to them all over again.

I am concerned about this as this debt is mounting up each month as they state they will only accept a minimum of £61 for this account instead of the £43 I am already paying.

Anyone had this kind of situation happen to them?

Had a very similar thing going on with BoS a month or so ago, got payplan to call them as well as me and they have since frozen interest on one card so far and am very hopeful on the other two.
PP

jeddy5

Professor_Pat_Pending wrote: »

Had a very similar thing going on with BoS a month or so ago, got payplan to call them as well as me and they have since frozen interest on one card so far and am very hopeful on the other two.
PP

Cheers PPP!

You know the great thing about this forum is that when you feel a litle rocky, everyone picks you up! :beer:

pure_dead_dopey

Morning

Sunny here for a change, been up since the crack of dawn due to very very inconsiderate neighbours, what a racket!!!!

Hope my day gets better, blood pressure must be bursting our of my ears as steam again.

let's all have ignore the DMP day, then its wall to wall football, which I am not the slightest interested in, might just go back to bed with earplugs in!

eyeopener2

Good morning

A letter arrives from PaydayUK this morning demanding money from me, no mention of the DMP. Strange thing is its exactly the same as the email they sent me yesterday and there was me thinking I was getting personally handcrafted emails. They don't love me afterall.

Another letter to write now.

E2

Hopelessly_Hopeful

Morning all

Sorry I haven't had much time to post. Work's been very busy. I do check in and read posts regularily so am with you in spirit.

Had DMP gremlins with car trouble over past month. CCCS were fab and said they could refund this months payment if I needed to. Keen not to but have totally wiped out my emergency fund. The concern is I need the car for work so it's likely to be a constant challenge. Suprisingly CCCS told me I could still get a loan as it's a must have for work and that people would still offer it to me even on a DMP. Really want to try to avoid that so am going to have to work hard to save my petrol allowance etc for repairs until I have been able to look into it all further. I don't want to make anymore poor decisions!

Have a few social outings planned and am keen to go albeit on the cheap as life's been pretty stressful and I need some balance. Thankfully the freezer and cupboards are reasonably well stocked so am hoping to use them to declutter and save some grocery budget to put to the social fund until the end of July.

Sent my first DMP payment 1st June so only needed one month of token payments. I just can't wait to see that first payment go off the balance in 13 days time. Mixed response from preditors, one zero %, some lowered to 9%, some same as including late charges and some defaults. No heavies though.

Hope you all have a lovely day

HH xx

Professor_Pat_Pending

Ok, all my creditors have now responded to my DMP, so here's a quick resume and I'm giving them marks out of ten for support and communication.

LBM: Late Jan and joined thread.
First contact with Payplan Late Feb.
DMP started on 1st May (6 weeks token payments). Paying £698 a month. DFD 2016, but am aiming for 2014.
Extra debt (charges and interest) incurred between starting tokens and DMP start: £810 on £51k total debt.


EGG: Froze interest immediately and accepted. 9/10

MBNA (x2): Froze interest immediately and accepted. 10/10

BoS (x3): Accepted and then put interest up to 12.7%, Payplan called them now all 3 have frozen interest. 6/10

BoS loan: Interest front loaded at 6.7% but accepted. 8/10

CITI: Claimed not to have received offer (despite at least 6 calls from me), then Payplan resent and they finally responded by rejecting but have frozen interest and claim to be passing to in house DCA in a couple of months. 3/10


Overall, so far my expreiences have not been too bad, had very few nuisance calls in token stage (but I did ring them all and write with Payplan ref). I certainly didn't expect 7/8 to freeze interest with the other at 6.7%.

Hope for us all maybe? PP

pure_dead_dopey

have a similar experience Prof, apart from the odd one playing silly beggers ie Amex and Lloyds
We have 22 creditors, 20 ceased interest, 1 has restarted for some reason (amex) and Lloyds just reduced, but to 6% from a ridiculous 26.9%

God knows when we will get it paid off, hoping for a lottery win

Triggles

Hello. I would like to join in here please. We just started our DMP in December 2009, so it's still quite new. None of our creditors has agreed to lowered payments, and we get flurries of letters from both them and their in-house debt collectors regularly. Santander, in particular, seems to enjoy sending frequent duplicate letters - for about two weeks, they sent one letter every single day, which (to my thinking) was a bit OTT. Obviously they need to charge us the extra fees and interest to pay for all their postage costs! lol

At one point recently, MBNA finally agreed to stop all charges and interest on one of our two accounts with them.... and then they promptly defaulted it. So that was amusing.

This weekend is letter writing weekend as we are bumping up our payments to everyone, so I want to make sure they note it. It's still not much, but it gives us another chance to clarify who actually owns each debt (as a couple are having their in-house collection agencies contacting us as well which causes more confusion), request again to stop all interest and charges, and point out that we are increasing our payment and that we have been making regular payments every single month without fail for 6 months now. I'm hoping now that they are seeing that we are making the payments and now increasing then when we can, that they will meet us halfway and reduce or stop the interest and charges on their end. One can always hope, right?

Professor_Pat_Pending

pure_dead_dopey wrote: »

have a similar experience Prof, apart from the odd one playing silly beggers ie Amex and Lloyds
We have 22 creditors, 20 ceased interest, 1 has restarted for some reason (amex) and Lloyds just reduced, but to 6% from a ridiculous 26.9%

God knows when we will get it paid off, hoping for a lottery win

Yep, I agree, but there still seems no consistency into how creditors seem to manage to treat individual creditors so differently.

I think I have been lucky as Egg and MBNA are seen as pretty good these days and BoS advised to do a DMP with Payplan, so they couldn't really be too unpleasant with me and Citi.........well there's always one!!!!!!

Maybe the key is to keep them informed from your end, I certainly found it rewarding to call them in the pre DMP days and I think they appreciated it.