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

GibbsRule_No3

eyeopener2 wrote: »

I think i'm going to make a formal complaint against them all actually as I think the PayDay industry has to be regulated to stop more fools like me falling into the trap. Even if my complaint doesn't help me personally it will add more power to the regulators elbow. Hopefully.

I will keep you updated on MH, i'm sure it will be threat after threat but, as i've said before, if they would just accept the payments the would be paid off by Christmas!

Interesting thing I seem to have noticed reading about these Pay Day loan companies from peoples posts about them, is that their scare tactics do seem to get them preferential treatment over other debts though. Most of you seem to pay them back a higher rate at the start of your DMPs to get rid of them. So is this CCCS and Pay Plan policy, if so why? If we have to show fairness to all creditors why do they get paid back first? Kind of guessing it might be they won't freeze interest or stop charges, since none of the creditors are obliged to. If this is the case then the Government really do need to take a stand.

good-egg

I hope someone can help me this morning, I've not posted in a while as my debt management plan seemed to be on the right track and I'm about 4 months in now.

Some creditors are still not co-operating however

Tesco's credit card are refusing to stop interest as the payment that CCCS are making meets their minimum requirement and as such I am not in any kind of financial hardship.

Post Office credit card are adding £12.00 in fee's every month as they say I'm £90 in arrears. Unless I pay the £90 they will not even consider the CCCS's offer or considering stopping the fee's and interest. I've written and ask ed and that was there response.

HFC Bank are denying even hearing from the CCCS despite it being 4 months down the line.

This is starting to stress me out again and I was doing so well at least I thought I was.

ruby1968_2

Professor_Pat_Pending wrote: »

Hi PDD, Just found out that all three BOS cards have been transferred to Blair, Oliver and Scott (good news), so will wait to hear officially from them that they have now taken over the debt, then test the waters with a CCA request for all 3. Will let you know when that happens, in the mean time will be following your diary on the AAD forum closely. Cheers, PP :cool:

Hi Professor Pat

We also had a bank loan referred to them they are a reasonable company to deal with, although they also like to push to the limit with repayments but saying that they will help set up a payment plan and also offer 6 months reviews on how much you will be able to afford, dont let them take to much control though and always keep a record of any payments you make.

good luck.
ruby1968

eyeopener2

GibbsRule_No3 wrote: »

Interesting thing I seem to have noticed reading about these Pay Day loan companies from peoples posts about them, is that their scare tactics do seem to get them preferential treatment over other debts though. Most of you seem to pay them back a higher rate at the start of your DMPs to get rid of them. So is this CCCS and Pay Plan policy, if so why? If we have to show fairness to all creditors why do they get paid back first? Kind of guessing it might be they won't freeze interest or stop charges, since none of the creditors are obliged to. If this is the case then the Government really do need to take a stand.

I "think" its because the contractual payment to a PayDay company is the full amout of debt whereas a loan or credit card is just a portion of that debt. CCCS work your payments based on contractual payments then pro rata that. It works though because they are relitavely small amounts and once they are gone, well you feel a lot better about things.

Dave Ramsey in the USA, version of Martin, says that you pay off your smallest debts first to make you feel that your achieving something. that certainly has been the case with me. OK its only one debt gone but ITS GONE!

I agree that the Government really needs to look into regulating these companies, as they have in the USA (or certain States anyway).

If regulation means they cannot operate then to me that is a good thing, I know not all agree with that but to me they are evil.

(yes I know I should have paid them back before anybody jumps on me)

E2

eyeopener2

good-egg wrote: »

I hope someone can help me this morning, I've not posted in a while as my debt management plan seemed to be on the right track and I'm about 4 months in now.

Some creditors are still not co-operating however

Tesco's credit card are refusing to stop interest as the payment that CCCS are making meets their minimum requirement and as such I am not in any kind of financial hardship.

Post Office credit card are adding £12.00 in fee's every month as they say I'm £90 in arrears. Unless I pay the £90 they will not even consider the CCCS's offer or considering stopping the fee's and interest. I've written and ask ed and that was there response.

HFC Bank are denying even hearing from the CCCS despite it being 4 months down the line.

This is starting to stress me out again and I was doing so well at least I thought I was.

It could be worth making an official complaint to the Post Office, that way they can't fob you off as you can escalate it.

I did that with Santander and it seemed to bring them to their senses.

Worth a shot?

ruby1968_2

good-egg wrote: »

I hope someone can help me this morning, I've not posted in a while as my debt management plan seemed to be on the right track and I'm about 4 months in now.

Some creditors are still not co-operating however

Tesco's credit card are refusing to stop interest as the payment that CCCS are making meets their minimum requirement and as such I am not in any kind of financial hardship.

Post Office credit card are adding £12.00 in fee's every month as they say I'm £90 in arrears. Unless I pay the £90 they will not even consider the CCCS's offer or considering stopping the fee's and interest. I've written and ask ed and that was there response.

HFC Bank are denying even hearing from the CCCS despite it being 4 months down the line.

This is starting to stress me out again and I was doing so well at least I thought I was.

hi good egg

are you able to get copies of any letters sent to these companies if so it may be a good idea to send them again recorded so they can't deny not getting them, also credit card companies can offer a payment plan as they did with my hubby when we got into problems, if you explain to them direct and explain that meeting any minimun repayment is causing financial problems to your self, and in addition to extra charges is making the debt get bigger not smaller and is not helping you get back on track.

hope this helps.

ruby

good-egg

ruby1968 wrote: »

hi good egg

are you able to get copies of any letters sent to these companies if so it may be a good idea to send them again recorded so they can't deny not getting them, also credit card companies can offer a payment plan as they did with my hubby when we got into problems, if you explain to them direct and explain that meeting any minimun repayment is causing financial problems to your self, and in addition to extra charges is making the debt get bigger not smaller and is not helping you get back on track.

hope this helps.

ruby

Thats what I've already done, and there response was clear unless I clear the arrears they won't help. I told them they are making it worse an even used a template letter from a website to make it sound official!

GibbsRule_No3

eyeopener2 wrote: »

(yes I know I should have paid them back before anybody jumps on me)

E2

E2 not likely on this board thread that anyone will jump on you or anyone else about paying back before.

The other thing I've noticed 9 months into this journey, is the willingness to want to pay back our debts on this thread. Look at how many of us when we learn about tokens think that £1 is a small amount until the DMP is in full swing. Lots want to pay more and only learn from the older wiser heads that it doesn't make a difference, except to our emergency funds.

I did not realise I could have paid my very small John Lewis debt back quicker. That is the only debt I feel sorry for strangely, the big loans and Barclaycard (who are still adding interest) I don't mind making them wait 5 years since they are still getting a sizeable amount each month. I know it is prorata but the JL seems so small per month spread over 5 years.

eyeopener2

Well

It didn't take Mackenzie Hall long to get in touch, they must be having a quiet day.

"Please ring us immediately about a personal matter".

So I just emailed them saying "give us your bank account number and CCCS will pay you"

lets see what the response is.

Oh and i've found out the email address of the chief exec of Mackenzie Hall, so if they start any funny business he will be contacted...........a lot.

The thing I don't undestand about this is that I was paying back the PD Loan co, so they are now paying MH to collect exactly the same amount. Why?

gabriella90

good-egg wrote: »

I hope someone can help me this morning, I've not posted in a while as my debt management plan seemed to be on the right track and I'm about 4 months in now.

Some creditors are still not co-operating however

Tesco's credit card are refusing to stop interest as the payment that CCCS are making meets their minimum requirement and as such I am not in any kind of financial hardship.

Post Office credit card are adding £12.00 in fee's every month as they say I'm £90 in arrears. Unless I pay the £90 they will not even consider the CCCS's offer or considering stopping the fee's and interest. I've written and ask ed and that was there response.

HFC Bank are denying even hearing from the CCCS despite it being 4 months down the line.

This is starting to stress me out again and I was doing so well at least I thought I was.

Hi,

Hope your feeling better, try not to let them get you down espcially the post office, you are already showing that you are willing to pay as you are in a DMP.

I can only suggest you send the template letter asking them to freeze the interest etc again and you send it recorded delivery at least then you have proof with HFC that you have sent the letters. You are paying all of them and are dealing with your debt.

The post office might be trying there luck before they pass you to a DCA and at least that way they stop the above and you can save for a F&F's

Good luck you will be fine and you are doing well.:T Perserverance!!!

G x