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

madhatta

I joined debt matters two and a half years ago, on a Debt managment plan, i have been paying them £200.00 a month for two and a half years . They worked it out and told me in 5 years we will be debt free ( i belive now they were given me info for a iva thingy)

i called them two months ago and asked if intrested had been frozen on accounts as a friends explained it wasnt when she was on her DMP, the guy on the other end of the phone said all intrested is frozen.


Called back this week and found out my account has now been passed to harrington brooks??? who have told me that instead of two and a half years left i have 5 years still to go and they dont know what is happening with the intrest,

I dare not tell my partner as i think this will put him over the edge. He had his heart on being debt free in two more years


I dont know what to do any more:mad:

Ellieseleven

Thanks HTH, I don't intend going down the unenforceability route but its like you say it all depends on the preditors LOL

Hopelessly_Hopeful

madhatta wrote: »

I joined debt matters two and a half years ago, on a Debt managment plan, i have been paying them £200.00 a month for two and a half years . They worked it out and told me in 5 years we will be debt free ( i belive now they were given me info for a iva thingy)

i called them two months ago and asked if intrested had been frozen on accounts as a friends explained it wasnt when she was on her DMP, the guy on the other end of the phone said all intrested is frozen.


Called back this week and found out my account has now been passed to harrington brooks??? who have told me that instead of two and a half years left i have 5 years still to go and they dont know what is happening with the intrest,

I dare not tell my partner as i think this will put him over the edge. He had his heart on being debt free in two more years


I dont know what to do any more:mad:

Hi Mad


Welcome to the thread.

That must have been quite a shock for you!

I assume Debt Matters is a fee charging organisation?
Are you sure it's a dmp or an IVA?
Have you been getting statements from your creditors?
Do you get statements from Debt Matters?

I'd give the free of charge National Debtline and CCCS or Payplan a call and let them talk you through what steps you need to go through to be exactly sure where you are and help you navigate through the information and choices that are available to you.

There are disadvantages to taking debt help in that it ruins your credit rating (though some would say that's an advantage, we will be richer long term ;-)) The advantage is meant to have some degree of control back and whilst an informal and voluntary arrangement you know where you are and it helps you to budget during and after the plan.

Good luck with it, let us know how you get on

HH x

mikon

Evening All

Received nice letter from CITI informing me that after an internal investigation into my complaint about the high interest charges that had been applied to my account they would like to inform me that my complaint has been upheld and they apologise. The have agreed to accept my offer and freeze interest.

It just shows that if you write and put your case forward the banks do listen.

Regards

mamajojo

Mikon that's great news:j - well done you!

GibbsRule_No3

Well done Mikon.

newbeginning_2

Well done Mikon

mamajojo

tedsd wrote: »

Hi Mama, how are you???

Hi Ted - I'm fine hun thanks for asking x
What about you and your brood?
Been mad busy but not getting anywhere iykwim! So still rubbish paddler -sorry! Will try harder...to hide better from children!
It must be your first offical payment from cccs next week - sure that'll feel good!
How to keep them busy for the next five weeks for next to nothing's the issue! Not sure how happy they'll be trolling into school with me so I can get things done in my new classroom/prepare for the term...still really carping self about it?
Hsbc putting me through the mangler still - but seems they are following their procedures - don't accept offer but stop interest for 3 months, then bang interest on for 180 days while commencing the daily calls again to say the same thing each time, defaulting me and promising to send me to metropolitan, who they say may do all sorts of unpleasantness. Lovely cccs said the interest should stop when i get passed over! This is my oldest cc - 18yrs , wonder if I should be asking for CCAs for everything really - just to know!

:grouphug:Big hugs xx

NittyGritty

i think it helps if whoever the creditor is, passes it over to the dca as soon as that happens no intrest can be charged by any dca or so i,ve read,

mikon

Hi Guys

Firstly thanks for all the kind comments.

Now down to business. NEXT have been messing me around claiming they did not receive the payment from CCCS then they said they had. Anyway received a letter from them today attached to the letter was a new Credit Agreemwnt. In the letter they state that to proceed with the new agreed payment I must sign the enclosed Credit Agreement.

I am starting to think they have lost the original Credit Agreement and want to trap me into signing another one. Also part of the DMP with CCCS is the agreement not to take out any new credit for the duration of the DMP so I guess if I was to sign this I would breach the DMP Agreement.

I think I will forward this to CCCS for them to look at.

What is everyones thoughts on this and have you encountered anything similar. They have said that I must sign it to make sure the the agreement is approved.

On a final note 9 out of 10 of my creditors have accepted and froze interest. The only one that has refused is Barclays, the Bank I banked with for over 30yrs loyalty counts for nothing when your in debt. I may exercise my right to write to the Chief Exec of Barclays and ask him why after 30 yrs of loyal service when I need there support through difficult time they refuse a reduced offer. They have offered to refund all interest charges when they hand it off to their DCA.

Anyway anyone with advice on NEXT please let me know.

Regards