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

newbeginning_2

candypop wrote: »

Hi all - feeling bit better with myself from my wobbles on Tuesday. Heard back from CCCS re Halifax adding interest on my statement this month CCCS suggested I write to them asking them to freeze interest. Does anyone have a template letter i could use. Pleeaassee Also CCCS said its normal for creditors not to send statements once on a DMP which should explain why I havent received one from Cap One since April! Which I admit I am quite happy with used to hate coming home from work to see what postie had left that day for me

Check Debtline for template letters - http://www.nationaldebtline.co.uk/england_wales/debt_advice.php#6

Capital One have done the same with me, haven't had a statement for ages, so I dont even know if they're still adding interest.

mikon

candypop wrote: »

Hi all - feeling bit better with myself from my wobbles on Tuesday. Heard back from CCCS re Halifax adding interest on my statement this month CCCS suggested I write to them asking them to freeze interest. Does anyone have a template letter i could use. Pleeaassee Also CCCS said its normal for creditors not to send statements once on a DMP which should explain why I havent received one from Cap One since April! Which I admit I am quite happy with used to hate coming home from work to see what postie had left that day for me

Candypop

It might be worth writing and including the following paragraphs.

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.


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.

If you look back on my posts you will find a link to the lending guidance.

Regret70 Sorry you don't have my sense of humour no offence meant. Just trying to instill a bit of humour into the forum.

Regards

candypop

Thanks for link just tried it but my pop ups are not playing today heavens knows whats wrong with laptop now. will try later.

i received a letter from cap one when i started dmp accepting and freezing interest to be reviewed in a year so i am hoping that they still are freezing interest that is

newbeginning wrote: »

Check Debtline for template letters - http://www.nationaldebtline.co.uk/england_wales/debt_advice.php#6

Capital One have done the same with me, haven't had a statement for ages, so I dont even know if they're still adding interest.

mikon

Professor_Pat_Pending wrote: »

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

Professor P P

Glad to see CITI responded and your journey down the DMP road has not been too bad. I still have not had a response from CITI. It will be interesting to see if they use the same excuse as they used on you. Just out of curiosity did they write and notify you that they had rejected your offer? I am just waiting for 2 creditors now to repsond Barclaycard, CITI and then I will post a similar update to you.

What I would say to anyone reading this is that in my early days of DMP Professor PP advised me to keep in touch with my creditors and I did follow his advice and I must say i felt it help nearly all of my creditors put my accounts on hold whilst i sorted the DMP out and sent token payments. So thanks for the advice Prof PP it does pay off.

Regards

newbeginning_2

candypop wrote: »

Thanks for link just tried it but my pop ups are not playing today heavens knows whats wrong with laptop now. will try later.

i received a letter from cap one when i started dmp accepting and freezing interest to be reviewed in a year so i am hoping that they still are freezing interest that is

I've had nothing from them, they passed my account to a collections company, then it went back to them, then another collections company, then back to them ... then nothing, they stopped writing, they stopped ringing - no contact at all - and this is the company that would ring hourly some days and sent people round?!

Professor_Pat_Pending

Hi Mikon and thanks for your kind words. I had absolutely nothing in writing from SCHITI and I did all the chasing, the only reason I knew they had rejected was because it was on my Justabank account with Payplan!!!!

Triggles

Mikon - I'm sure it would be easier going if we went through Payplan or CCCS. We DID take advice from CCCS before starting, but honestly, DH was panicking about a DMP as it was, so I felt it was better to do a self-managed one with CCCS advice than keep going under financially. It just means a bit more work done by myself, but now that the payments are set up by standing order, getting the payments taken care of isn't a problem anyway.

andyD_2

OMG have you all jumped ship???????? We're on page 5!!!!!!!!!

Nothing much happening on the DMP front just popped on to say hello.

Went to Asda this morning and done a big budget shop, lots of green and white packaging! 8p for shower gel isnt that amazing and it is fine!
Didnt get much good quality stuff but hey beggers cant be choosers so long as we eat!

Quite a nice afternoon here now sun is shining but have to head to work at 6 (big thumbs down) cant be bothered.

Catch up again soon.

ljm23k

andyD wrote: »

OMG have you all jumped ship???????? We're on page 5!!!!!!!!!

Nothing much happening on the DMP front just popped on to say hello.

Went to Asda this morning and done a big budget shop, lots of green and white packaging! 8p for shower gel isnt that amazing and it is fine!
Didnt get much good quality stuff but hey beggers cant be choosers so long as we eat!

Quite a nice afternoon here now sun is shining but have to head to work at 6 (big thumbs down) cant be bothered.

Catch up again soon.

Hi andy, I've been lurking all day wondering where everyone was too!

I might try Asda myself tomorrow. There's none near me but I have to go to Antrim, I was shopping at the outlet there and left a bag behind!:rotfl::rotfl:

true27

:hello: Hi everyone!

Wow it is quiet in here today - I've been in Exeter for a change of scenery today AND I didn't buy anything like the good True I can be when I try!!

Hope everyone's ok? I have nothing DMP to report other than I have an appointment to speak to my case officer on Wednesday morning not sure what that's about though, ah well soon find out!

Finally got a well deserved evening off so I'm off for a soak in the bath with lots of bubbles and a good book - hope the sun is shining for all of you and I'll catch up tomorrow xxx