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

FortunePig

Hi all!

Some progress appears to have been made. I've had contact now with Lloyds and MBNA. But there are still 4 other creditors who haven't been in touch, which worries me slightly as its been over a month now since I sent out the letters and my first CCCS payment was made on the 1st Oct.

MBNA were pretty good - they immediately reduced my credit card interest rate from 29.9% to 12.9% and accepted the DMP without question. I rang them to ask if they would consider dropping the interest rate any more, but they said they either put you on a 5 year plan if they calculate you can pay your debt off within 5 years inc the interest added or they default you and put you on a 10 year plan at the same rate. Doesn't look like there's much room for manuovure there but its a start at least.

Lloyds are being difficult - they've offered me 6 months reduced payments but with the interest rate not stopped or reduced. That isn't going to help so CCCS are back onto them.

I've been getting letters from MBNA and Lloyds as well offering 0% balance transfers and loans!! I don't think that the right hand is talking to the left in these organisations.... I'm on a dmp people!!! I can't have credit - and you should know that, you've been writing to me! Actually - that sounds so liberating!!

Has anyone else had silence at the beginning? It seems weird - especially as I've effectively missed payments as CCCS has been paid rather then them.

Ellieseleven

Hello everyone,

Busy, busy week so not had much time to pop in and say hello:o

Life seems to be back to normal now but without the CC's and all the stress. It's now almost 3 months since we took the decision to go onto a DMP and it's been the best thing that we've done for a long time:)

Hope that everyone is having a stress-free time

Ellie xx

jeddy5

FortunePig wrote: »

Hi all!

Some progress appears to have been made. I've had contact now with Lloyds and MBNA. But there are still 4 other creditors who haven't been in touch, which worries me slightly as its been over a month now since I sent out the letters and my first CCCS payment was made on the 1st Oct.

MBNA were pretty good - they immediately reduced my credit card interest rate from 29.9% to 12.9% and accepted the DMP without question. I rang them to ask if they would consider dropping the interest rate any more, but they said they either put you on a 5 year plan if they calculate you can pay your debt off within 5 years inc the interest added or they default you and put you on a 10 year plan at the same rate. Doesn't look like there's much room for manuovure there but its a start at least.

Lloyds are being difficult - they've offered me 6 months reduced payments but with the interest rate not stopped or reduced. That isn't going to help so CCCS are back onto them.

I've been getting letters from MBNA and Lloyds as well offering 0% balance transfers and loans!! I don't think that the right hand is talking to the left in these organisations.... I'm on a dmp people!!! I can't have credit - and you should know that, you've been writing to me! Actually - that sounds so liberating!!

Has anyone else had silence at the beginning? It seems weird - especially as I've effectively missed payments as CCCS has been paid rather then them.

Hiya!
Yes it's quite normal to get a little silence, although none of my creditors gave any hassle apart from HSBC who kept phoning at the start of the DMP. One of my HSBC debts has been sold to a DCA and it looks as if my HSBC CC is going the same way too (this is a good thing as you won't pay interest then).
I did not receive any letters saying that I had been rejected/accepted only the default letters and final demands. But I'm with Payplan and in my account it gives a list of who said yes/no.

I'm glad you went the DMP route as it takes a huge weight off your shoulders. Welcome on board and grab a paddle!

Hopelessly_Hopeful

Morning All

Teds, thanks for the roll call. Did the ironing ever get done? Any updates on what's hot in Aldi? Been away with work so not had much time to go lately.

Also trying to run freezer stock down so I can free some food budget up for Xmas pressies. A number of friends have asked to scale down Xmas pressies which is all good :-) Am going with the best thing you can give someone is your time thing, which actually I do agree with, so busy planning walks and evening get togethers. Bagged a couple of bargains in Wilkinsons, small wok and miniwok sold separately for the grand total of £7.45 and they are great! Just need to perfect my stir fry recipes now. Any suggestions gratefully received.

Ellie, how's the job going?

Fortune, I'd agree with Jeddy. Most people think it takes 3 months to settle down. My advice would be to send by recorded delivery the please consider and let me know the outcome letter to them. You've nothing to loose apart form your time and some postage.

Jeddy, sounds like you have your head screwed on, fingers crossed all will slot into place.

I'm calling CCCS to get my review done this week. Fingers crossed it goes OK. In some ways DFD feels a long way off. In others it's nice to see things at least heading in the right direction.

Hope everyone else is OK, been a bit quiet around here lately. I guess that's a good sign for some.

HHx

jeddy5

@Fortune pig
What I find gives me a little piece of mind is to send 2 letters one to your local branch and one to the address on the letters both by recorded delivery (cover all bases - they can't argue then).

I got a weird letter from HSBC this morning regarding my loan (an offer which was accepted when payplan contacted them and it shows up on my account as accepted), it said that they had been unable to take a direct debit from my current account (been closed down that's why) and wanted payment or else (I've been paying them via payplan since april). Looks like they are passing over all my debts with them over to metropolitan. I hope so!

Anyone else had dealings with metropolitan? So far they seem ok and were fine with me over the phone and basically said what i was paying payplan was ample and they would accept that amount no problem.

GibbsRule_No3

jeddy5 wrote: »

Hiya!
Yes it's quite normal to get a little silence, although none of my creditors gave any hassle apart from HSBC who kept phoning at the start of the DMP. One of my HSBC debts has been sold to a DCA and it looks as if my HSBC CC is going the same way too (this is a good thing as you won't pay interest then).

Looks like we re in the same boat, so our two paddles will be useful :beer:
HSBC who have always shown up as "Pending" on my Payplan, have sent me a letter today (Saturday 9th Oct) telling me I must pay them arrears of £1,780.36 by 27th October. Further action will be taken if this does not happen. Recovery of all moneys outstanding £5,997.16. Another letter asked if I was having difficulties and suggested variuos credit people who could help.

Hello people at HSBC, Payplan have been paying you since April :rotfl::rotfl:

Wait even better, yet another letter and this one tells me I can have an overdraft on an account that is now closed. We wonder why the country is in a financial mess? Who are these people who work in these Banks?:eek::eek::eek:

eyeopener2

Eyeopener needs a bit of advice...

I received a letter from Santander yesterday. It basically said that as I had been making reduced payments for "several months" (5 actually) that they wish me to contact my 3rd party and up payments. This is so the debt is paid off quicker.

Now, this a loan and as such all the interst is included in the total amount due so they are not losing out as such, in fact the original end date of the loan and the new end date are only 12 months apart.

So should I reply to them nicely, rather than my usual volcanic explosions against their ingnorance and stupidity, and explain that I cannot pay anymore than the current amount as my income has not increased and I will not be getting a payrise for at least two years (guess who I work for!). Although a recent review has indicated a small increase in payment although when this is pro-rated between all my creditors Santander loans will get about £1 extra.

Do I ignore the letter?

Do I contact CCCS and see what they say?

THis has knocked me a bit actually, i'm not feeling my normal exuberant self regarding this DMP today. I don't know why that should be as it wasn't a demand as such but it just slightly concerns me that this could be followed up by more hassle.

eyeopener2

Cheers T, yep your right. A full round of nice letters stating the facts I think.

Loubylou2

Hi Eyeopener.

They are swines! Haven't they got anything better to do! our Tesco repayments are the same as the whole amount is showing including interest so repaymets through Payplan are only just under what we were paying before.

I'd reply and make a point of saying that to them. Its probably just a standard letter but that doesn't help when you're feeling vulnerable.

Had a letter from NatWest today. Saying that they can't get hold of us on the phone but basically that my joint account with my mum will be taken into account if I don't pay off the OD. It gives me the option to remove my name off that account which is pretty good of them I suppose.

Thing is I removed my name from her account on 23rd August! - well I gave the paperwork in to Nat West at my mum's actual branch so am a bit confused. Just need to double check that she's had a new cheque book etc.
Also I have tried to ring Nat West but have never got through to our account manager (3 times) Will ring again monday. The letter also says that we are both going to be served with default notices.

Having said that it was good of them to warn me what they will do, the letter was accompanied by a statement on the OD showing monthly charges which in total are over double what we are paying them. I hate them! :mad:

I feel another of Mikon's letters coming on.

GibbsRule_No3

Seems to be the weekend for letters. Anyone feeling left out because they haven't received one of a similar ilk? :-) ;-):D :rotfl: