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

ljm23k

:wave:

Hi everyone! Its been weeks since I logged on, sorry:o

Update one year on...

Most creditors are doing the same as at the start, no interest or v low, except Halifax. They agreed to DMP for a year and reduced interest so the debt didn't increase but it didn't go down either. I was all set for them to be passing to DCA but CCCS jumped in and arranged the same deal for another 3 months. I have a loan with my mortgage company finishing in May, which obviously couldn't go on the DMP, so they are wanting to wait to see what payment they get then. Of course my cost of living has increased so I hope they don't expect me to put the whole amount onto the DMP as it is getting a bit tight here.

Now I've got the "passing you to DCA" letter from Next, along with the usual threats of door knockers, CCJs etc, so I was hoping someone has been there before me and can tell me if the transfer by Next was straight forward. I remember some of you mentioned this from Next (maybe Mikon?) the last time I was on here.

I promise to be a better paddler:)

mikon

Hi everyone

Have not been on for a while. Trying to get my head around my circumstances feeling really low at the moment. Have been on a DMP since June 2010 and have got the creditors on side. Everything is running smoothly and this is the problem. I am struggling now to meet the monthly CCCS payment. With living costs going up I am now finding it hard to survive financially from month to month. The problem is I am worried that if I reduce the monthly DMP payment the creditors will start to kick off and reinstate interest and set me back to where I started they may refer me to Debt Collection Agency and also start harassing me on the phone. I am caught between the devil and the deep blue sea.

Before my DMP i used to worry about how i was going to pay the creditors now I worry about if I will have enough money to last the month. The past 2 months I have ran out on or around the 23/24 of the month. I know I should speak with CCCS but I am frightened to as I do not want to upset the creditors.

I am struggling and need some advice please.

Mikon

ljm23k

Hi Mikon, whatever happened with Next and the DCA. I have the same letter from them right now...

mikon

ljm23k wrote: »

:wave:

Hi everyone! Its been weeks since I logged on, sorry:o

Update one year on...

Most creditors are doing the same as at the start, no interest or v low, except Halifax. They agreed to DMP for a year and reduced interest so the debt didn't increase but it didn't go down either. I was all set for them to be passing to DCA but CCCS jumped in and arranged the same deal for another 3 months. I have a loan with my mortgage company finishing in May, which obviously couldn't go on the DMP, so they are wanting to wait to see what payment they get then. Of course my cost of living has increased so I hope they don't expect me to put the whole amount onto the DMP as it is getting a bit tight here.

Now I've got the "passing you to DCA" letter from Next, along with the usual threats of door knockers, CCJs etc, so I was hoping someone has been there before me and can tell me if the transfer by Next was straight forward. I remember some of you mentioned this from Next (maybe Mikon?) the last time I was on here.

I promise to be a better paddler:)

Hi LJM23K

I got the same letter of NEXT stating they were handing my account off to a DCA. I wrote to them asking them to clarify who the DCA was and when this would happen. Guess what did not reply to my letter and then sent me another payment plan for 3 months and asking me to sign a new Credit Agreement.

It appears to me that it is one of NEXTs scare tactics I did not sign the new agreement and have continued to make the payment to NEXT this occurred 3 month ago and I have not heard anything more from them since.

Just ignore it and continue to make the payment your making.

Hope it works out for you.

Best of Luck

Mikon

ljm23k

mikon wrote: »

Hi LJM23K

I got the same letter of NEXT stating they were handing my account off to a DCA. I wrote to them asking them to clarify who the DCA was and when this would happen. Guess what did not reply to my letter and then sent me another payment plan for 3 months and asking me to sign a new Credit Agreement.

It appears to me that it is one of NEXTs scare tactics I did not sign the new agreement and have continued to make the payment to NEXT this occurred 3 month ago and I have not heard anything more from them since.

Just ignore it and continue to make the payment your making.

Hope it works out for you.

Best of Luck

Mikon

Thanks, I thought so as I had a similar thing happen with them twice before when the CCCS payment didn't get to them on time and they added charges but I never got the DCA letter before, thus my mild panic. Then I remembered they done the same with you.

mikon

Professor_Pat_Pending wrote: »

Just got off the phone to Opus (were CITI), they have accepted £600 as a F and F for £2.6k, good grief, incredible, etc, etc.
Thats 23%!!!!
So they accepted 23% and MBNA accepted 38%. So have gone from £56k last April to less than £40k now, hope for us all here?? :beer:

Prof PP

Well Done I remember the early days the chats we had over CITI and the way they handled our debts. Great News.

How are these F & F being viewed by your DMP company. I got the impression that CCCS frowned on this practice.

Best Wishes.

Mikon

ljm23k

mikon wrote: »

Hi everyone

Have not been on for a while. Trying to get my head around my circumstances feeling really low at the moment. Have been on a DMP since June 2010 and have got the creditors on side. Everything is running smoothly and this is the problem. I am struggling now to meet the monthly CCCS payment. With living costs going up I am now finding it hard to survive financially from month to month. The problem is I am worried that if I reduce the monthly DMP payment the creditors will start to kick off and reinstate interest and set me back to where I started they may refer me to Debt Collection Agency and also start harassing me on the phone. I am caught between the devil and the deep blue sea.

Before my DMP i used to worry about how i was going to pay the creditors now I worry about if I will have enough money to last the month. The past 2 months I have ran out on or around the 23/24 of the month. I know I should speak with CCCS but I am frightened to as I do not want to upset the creditors.

I am struggling and need some advice please.

Mikon

I'm certain that there are many others in the same position, considering the rising costs and pay freezes etc. I'm lucky in that my contribution to the home is clothing, social life :rotfl::rotfl:and the kids homeschool stuff so I can save a lot by using the library and buying used curriculum/books etc. BUT clothing! I bought trousers for my boys in August at £7 a pair and the same shop has the same trousers now for £8.50, so even the cheap shops are putting up prices fast.

Why don't you call CCCS and just discuss the implications with them? They are bound to be able to tell you what the likely outcome should be as there will be many who have had to reduce payments.

My concern now is that in a few months I will have about £140 freed up by a loan ending and I don't want the extra to kick off interest again.

Professor_Pat_Pending

mikon wrote: »

Hi everyone

Have not been on for a while. Trying to get my head around my circumstances feeling really low at the moment. Have been on a DMP since June 2010 and have got the creditors on side. Everything is running smoothly and this is the problem. I am struggling now to meet the monthly CCCS payment. With living costs going up I am now finding it hard to survive financially from month to month. The problem is I am worried that if I reduce the monthly DMP payment the creditors will start to kick off and reinstate interest and set me back to where I started they may refer me to Debt Collection Agency and also start harassing me on the phone. I am caught between the devil and the deep blue sea.

Before my DMP i used to worry about how i was going to pay the creditors now I worry about if I will have enough money to last the month. The past 2 months I have ran out on or around the 23/24 of the month. I know I should speak with CCCS but I am frightened to as I do not want to upset the creditors.

I am struggling and need some advice please.

Mikon

Mikon, the whole point of a DMP is of course paying off your debts, but in a way so you can live a reasonable lifestyle.

You shouldnt be struggling like this, you have to ring the CCCS and sort out lower payments. I know it's a nightmare re. interest reinstatement, etc but you have to be able to live before anything else.

If they start being B******s again then pluck up the courage and get onto the Ombudsman, we both know that'll sort them out.

On the plus side, I know you've a biggie with Opus and bearing in mind what happened with me today, could be good news if you can get a small sum together in the future (ie 23%).

Keep the old chin up. PP

Professor_Pat_Pending

mikon wrote: »

Prof PP

Well Done I remember the early days the chats we had over CITI and the way they handled our debts. Great News.

How are these F & F being viewed by your DMP company. I got the impression that CCCS frowned on this practice.

Best Wishes.

Mikon

Hi Mikon, Payplan have been excellent and just said great, good for you and have taken them both of my list.

I now have £700 a month split between 6 not 8 creditors and hence the others are all getting about £80 extra, pro rata between them.

I made a point of offering my 4 lowest creditors an F and F so as not to seem bias and only 2 went for it.

Did a lot a reading up on it and starting at 20% seems the popular starting point, gives you a tiny sense of empowerment over them as well, which is nice. PP

pure_dead_dopey

morning chaps

just running through
well done Prof, excellent result, you did it right,you were in control and you got a great result!
Mikon, you need to live, or there is no point. A DMP is about paying what you can afford and you need to remember its a battle, and you have to keep on the offensive, they may not like it if you reduce but they can't take the food out of your children's mouths so get a budget done that is realistic and stop trying to please your creditors, it will get you nowhere cos they are only interested in getting the money, ignore phone calls and if someone doesn't play ball go to the ombusman. There are laws in place to protect you and make creditors behave, sometimes you have to remind them of that.
ok rant over, been busy on the other side on AAD but its all going well, another admission that they have no CCA from a creditor this week, so that's 6 admissions now, so all good.
take care and I might just have a look at the tomato plants, although the weather is orrible here just now!!!
Dopeyxxx