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

mikon

NittyGritty wrote: »

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,

NittyGritty

This is not quite accurate. If a bank hands the debt off to an internal DCA or their recovery team then interest can still be applied. It also depends on how the debt is sold. What you will find is common practice is the DCA will buy a debt and chase you for just the debt and not apply interest. Sorry to be the bearer of bad news. Whilst on a DMP a creditor is not legally obliged to stop interest but an IVA would legally prevent interest being charged but this brings along other issues.

Regards

NittyGritty

mikon wrote: »

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

hi mikon did you ask for intrest charges to be refunded if so what sort of things did you say or did they offer it and also how far back are they offering sorry to be nosey, just wondered if i or anyone else coudl try this,

ljm23k

mikon wrote: »

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

Mikon,

Me again, I got the same thing to sign so I asked CCCS and they said not to sign and not to enter into any further agreements with Next but to redirect them to CCCS. I didn't sign or even contact them, I just waited to see what would happen. They are taking the payments now without interest (so far!)

gabriella90

Morning all,

Things seem to be ticking along nicely for quite a lot of you. Welcome newbies goodluck on your DMP's your in the right place for support and help.

So a heads up for some of you MBNA/ Virgin card holders.

I am with virgin but since the DMP they have moved me over to all MBNA's call centres etc. The first thing that happened was i couldn't access my online account, it was handy to log on and make sure the payment had been made, even after 6 months!
I received a letter that scared me a little It gave me a new account number and lots of new terms. The most worrying being that my payment could change at any time and they would inform me of this. So i took the ball by the horns and gave them a call. When i finally got through to the right person in the debt managment team the lady was extra helpful and said it was a new account number but i did not need to inform CCCS and just to keep paying every month.

So if you do recieve this letter do not worry its just full of hot air!!

Have a good weekend xx

Hopelessly_Hopeful

mikon wrote: »

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

Well done Mikon. You have been a real winner on here recently!

mamajojo wrote: »

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

Mama, hope you surviving the hols. I hope the interest stops for you soon.

gabriella90 wrote: »

Morning all,

Things seem to be ticking along nicely for quite a lot of you. Welcome newbies goodluck on your DMP's your in the right place for support and help.

So a heads up for some of you MBNA/ Virgin card holders.

I am with virgin but since the DMP they have moved me over to all MBNA's call centres etc. The first thing that happened was i couldn't access my online account, it was handy to log on and make sure the payment had been made, even after 6 months!
I received a letter that scared me a little It gave me a new account number and lots of new terms. The most worrying being that my payment could change at any time and they would inform me of this. So i took the ball by the horns and gave them a call. When i finally got through to the right person in the debt managment team the lady was extra helpful and said it was a new account number but i did not need to inform CCCS and just to keep paying every month.

So if you do recieve this letter do not worry its just full of hot air!!

Have a good weekend xx

Thanks for the information Gab. Isn't it great how 'rich' we are getting in terms of information and being able to fight back?

Wow Ted, forget you were approaching launching the DMP. How you feeling? I did the Aldi shop, I'm soooo into it now, I was almost snatching it off the assistant ;-) Even had to get in it's card payment before she asked me ;-) Eeeeeeh the things we take pleasure from. Am trying to plan meals etc. I love lasagna and is usually my food in for when pals call in. Massive bargain on oregano 100g for 99p so bought 4 lots. Worked out that's a £12.44 saving against tesco/asda cheapest or unbelievable £139.24 saving against waitrose freeze dried. How MSE am I getting?!

Third payment due to CCCS next week. I've decided if my remaining Preditors aren't on board by next month I'm going to request CCAs and revaluate implications of going down that route.

Happy weekend all

HHx

mikon

NittyGritty wrote: »

hi mikon did you ask for intrest charges to be refunded if so what sort of things did you say or did they offer it and also how far back are they offering sorry to be nosey, just wondered if i or anyone else coudl try this,

NittyGritty

The issue commenced in May 2010. Interest has not been refunded but this is a battle for another day. The important aspect was to stop the interest charges which were over 2 months in excess of £800. Reducing the debt is paramount. The refund of interest will be a battle that I take forward in the forthcoming months and will hopefully have them refunded. As they did acknowledge it was not fair practice.

You should never give up. People think they can never take a well established bank on and win, I thought that and at times I was really down. But you know what if you put the facts down on paper and clearly explain your position you can win. I have proved that, and I was never one for writing letters before embarking on the DMP.

The one thing that drive me was the fact that if the interest charges were not stopped the debt could potentially spiral out of control. I therefore wrote a letter explaining that I was trying to address my financial situation and that all other creditors had assisted me in trying to resolve my current financial problems except them and that a fair offer had been made and they had sight of my financial statement and that they could if they wanted assist me by stopping interest. At first they refused but then when I wrote again and the Financial Ombudsman became involved they stopped. It was not easy but it was worth it.

I hope this has clarified things for you.

Regards

mikon

mamajojo wrote: »

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

Mamajojo

HSBC are in breach of the Lending Code if they are using a threatening manner to try and extract a payment from you. the Lending code states that they must act in a reasonable and professional as well as
sympathetic manner. I take it from your comments that they have not. When I contact any of my creditors I have a front sheet on each creditor and I note the date contacted the persons name I am speaking to and the time. This way if the breach the code I have the exact details.

LENDING CODE

SECTION 1 - KEY COMMITMENTS

Banks will deal quickly and sympathetically with things that go wrong and act sympathetically and positively when considering a customer’s financial difficulties.

Subscribers will make sure their staff are trained to put this Code into practice.

I hope this helps you. Next time they start ranting just quote the above and see what happens. It worked wonders for me.

Regards

mikon

tedsd wrote: »

HSBC sound dreadful.... it's that kind of thing which pushes me towards CCAs... I do wonder if there's any harm in checking to see if all mine are enforcable or not, am sure 8 of them won't be..then again I think I will leave it until a creditor starts playing unfair...would it wind them up to ask whilst we're on DMPs?

Ted xx

Tedsd

I wonder about seeing if mine are enforceable but like you I think I will wait and see what happens further down the line. After all I do want to repay my debts but if the time comes when I need to cross this bridge I will. I read somewhere that it is not good to go down the CCA route when on a DMP but if push comes to shove well I will. Apparently when you go down this route the creditor defaults your account and this prevents alot of people pursuing it but for us on DMPs it does not make a difference as we already have defaults.

But like you it may happen further down the road.

Regards

mamajojo

mikon wrote: »

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

Hi Mikon -
Thanks for the word re lending code...mmm I wonder how many staff are trained in putting the code into practise - because of the calls and calls I've had - sympathetic and positive are not the common words I'd be using - though there have been some notable exceptions!

As LJM said ignore the Next sign the credit agreement shoddily photocopied piece of paper - CCCS said to do so, think they are trying to make us enforcable! I've had a good few of those so far and they've all been filled in the shreader! They seem to speacialise in aking forever to let payments show up on their joyously red statements, then all sorts of credits show and in the end they seem to show what they should! I did phone them when my first cccs payment didn't show on the statement, they said it took them a long time to share out the 30000 dmp payments from cccs all paid in one cheque?!!! Wonder if that was true?
So both our next accounts have been quiet and even the one that only had a balance of £85 has stopped interest!
:TKeep up the good work you are riding the rollercoaster so well!

mikon

mamajojo wrote: »

Hi Mikon - I did phone them when my first cccs payment didn't show on the statement, they said it took them a long time to share out the 30000 dmp payments from cccs all paid in one cheque?!!! Wonder if that was true?
So both our next accounts have been quiet and even the one that only had a balance of £85 has stopped interest!
:TKeep up the good work you are riding the rollercoaster so well!

mamajojo

I did ring CCCS and ask if they could speak to NEXT but they said they would not at this point as it can take upto 8wks for the payment to reach your account. This worried me a bit but now that you have added the part about one cheque being sent I can understand it now. So it seems what NEXT was saying about the cheque may be true.

This is what I like about this forum we all have snippets of information and when we get together we put them together like a jigsaw to come up with a clearer picture of how the creditors operate.

Have a nice evening mamajojo.

Regards



Regards

Mike