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

Hopelessly_Hopeful

tedsd wrote: »

Morning!

Gabriella, thank you!

HH, glad your feet are having a treat, I've given away 2 items as presents already and it was good not to have to worry about the cost and to be able to give people something really nice - wish I'd made that 2nd order - saw yesterday that someone had ordered 12 !!! - must have saved hundreds and bet their house smells nice :rotfl:

I looked at approved foods but when my cupboard was well stocked so need to bear it in mind when I'm planning ahead - thanks for the info.

Glad I'm not with BC!

Have a good day All

Ted

Ah as ever Teds that's lovely of you. Am well impressed with approved foods. The savings I make help with petrol pressures as desp trying not to reduce DMP payment! Am hoping this time next week to have paid 25% off. After that targets will be at 30% 40% etc.

Onwards and upwards.

HHx

mikon

Came downstairs this morning to see a white envelope lying on the door mat marked Private & Confidential. Picked it up looked at he return address immediately recognised it as one of my creditors. (Now how many people on here do that each morning with the post, I bet there is alot)

Opened it to find a (big pause filled with anticipation) a Default Notice from the Co-op. There was a time when I would panick seek advice on this forum but now I think well I have been on a DMP for a year with these guys they must serve them after 1 yr. Put DN back in envelope and filed.

Now the DN has been served they can now sell the debt on but I am not sure if they will at this point so I will just go back in to relax mode and wait and see.

What I am trying to say to all the newbies on here is if you get a DN in the future read the first couple then just file. It is part of the process and its something that has to be done. Whilst it has ruined my credit score for 6 yrs I am not bothered because i will not want anything on credit again. If something is worth having its worth saving for.

So have a good weekend relax and be worry free for a few days.

Mikon

Hopelessly_Hopeful

I hope that gives you a good result Mikon

I seem to have two lots of interest charges and am wondering if this is the interest on interest I read something about a while back. Does anyone have any information on this please?

HHx

GibbsRule_No3

I received my Barclaycard bill on Saturday. Very strange as they have taken off £157.98 as payment received. I think Payplan actually sent them the new revised rate of £150.30. What has me concerned is that they make a big deal out of paying the £157.98 and that I must "contact them if I want to change the amount or I have no comeback with the Ombudsman". Rather threatening and almost as though they know they received less this month and are covering their backs.

What a difference to M&S who have accepted the new amount without interest for another year.

If I asked Payplan to remove Barclaycard from the DMP and let them do their damnedest what would they actually do, does anyone know? I am really fedup with BC.

GibbsRule_No3

Just read the bit about interest being added. So BC have added £600 to my debt and are now charging interest to that as well over the past year I've been on a DMP not surprising the difference that BC say is outstanding and the Payplan amount is over £1000 difference.

eyeopener2

GibbsRule_No3 wrote: »

If I asked Payplan to remove Barclaycard from the DMP and let them do their damnedest what would they actually do, does anyone know? I am really fedup with BC.

I was thinking the same thing Gibbs (always makes me smile your name).

i was lay awake last night thinking.... Stop paying, go to court, get a ccj and stuff 'em. Argue your case in front of a judge and see what happens.

What annoys me is that I was talking to a work collegue and he was telling me hes just got a 0% balance transfer for £4k with Barclaycard and he was so relieved as he was paying a fortune in interest with his other provider!

Yet here I am with approx £2k being stuffed for 12% ! Where is the fairness in that? Interest rates are supposed to be charged on risk. I can't borrow anymore money, I just pay it back, but i'm a risk? Or are they just vindictive and hiding behind policy?

Back to the point though is that I think CCCS are all or nothing so I assume Payplan are as well. So i'm not sure if there is any option apart from going it alone.

I'm wound up like a coiled spring at the moment as I fear that other creditors may follow.

E2

pure_dead_dopey

Guys Guys

calmness

no CCJs please!!!

Barclaycard are muppets and chancers and continue to add interest to almost everybody's account after the first six months of a DMP. They are adding interest to ours as well but as both are unenforceable they can add until they are blue, it doesn't matter!!!
However if you are on a DMP it does matter cos your going to have to pay it eventually which will add months to the DMP and delay you getting debt free and cleaning up your credit report.
Mikon, you're totally wrong about the Default, they should have defaulted you within 6 months, not a year. and no they don't have to sell it on when they default you. All accounts on DMPs are defaulted, you are in default the minute you don't make the minimum payment, the first minimum payment you miss. They have to default the account to terminate or sell on and it has to be a lawful default (yours isn't Mikon its too late) but there is only any point in arguing if they are taking you to court which they won't as long as you are paying something. Eyeopener/Gibbs doubt if CCCS or Payplan would let you pull one account out of the DMP and keep the rest in, its all or nothing. You could do a self-administered DMP which would give you a lot more leeway but its still more trouble and you don't have the back up muscle. and you have to work quite hard at keeping abreast of everything. Still nothing wrong in reporting them to the FO, they are supposed to help in times of hardship and a letter to the OFT is not a bad idea either. No use in being battered by theses muppets and not doing anything about it, there are rules and they won't keep to them, you have to force them to keep to them. Protection is there, but you have to utilise it.
Remember while there are loads of inspiring stories about UE but it is a last resort and its lots of hard work and on occasion they beat you, its percentage game. Its a decision I'm glad we made and its working for us, got rid of approximately 1/3rd of our massive debt so far, not bad for a year and it would have taken around 5 years on the DMP. off on business again tomorrow, take care

mikon

pure_dead_dopey wrote: »

Guys Guys

calmness

no CCJs please!!!

Barclaycard are muppets and chancers and continue to add interest to almost everybody's account after the first six months of a DMP. They are adding interest to ours as well but as both are unenforceable they can add until they are blue, it doesn't matter!!!
However if you are on a DMP it does matter cos your going to have to pay it eventually which will add months to the DMP and delay you getting debt free and cleaning up your credit report.
Mikon, you're totally wrong about the Default, they should have defaulted you within 6 months, not a year. and no they don't have to sell it on when they default you. All accounts on DMPs are defaulted, you are in default the minute you don't make the minimum payment, the first minimum payment you miss. They have to default the account to terminate or sell on and it has to be a lawful default (yours isn't Mikon its too late) but there is only any point in arguing if they are taking you to court which they won't as long as you are paying something. Eyeopener/Gibbs doubt if CCCS or Payplan would let you pull one account out of the DMP and keep the rest in, its all or nothing. You could do a self-administered DMP which would give you a lot more leeway but its still more trouble and you don't have the back up muscle. and you have to work quite hard at keeping abreast of everything. Still nothing wrong in reporting them to the FO, they are supposed to help in times of hardship and a letter to the OFT is not a bad idea either. No use in being battered by theses muppets and not doing anything about it, there are rules and they won't keep to them, you have to force them to keep to them. Protection is there, but you have to utilise it.
Remember while there are loads of inspiring stories about UE but it is a last resort and its lots of hard work and on occasion they beat you, its percentage game. Its a decision I'm glad we made and its working for us, got rid of approximately 1/3rd of our massive debt so far, not bad for a year and it would have taken around 5 years on the DMP. off on business again tomorrow, take care

PDD

Thanks for the advice. What I was saying in my post is that a Default has to be served before they can sell it on to a DCA.

More interestingly is how did you get rid of 1/3rd of your debt was it down to a DMP payment or Full and Final or going down the route of UE.

Did you read my post on Moorcroft and if so do you have anything to add that may help me.

Pleased to see your debts coming down. The route I am taking with Barclaycard is to reduce the amount I am paying them this will take me below the 1% threshold and they will reinstate 0% interest.

Looking forward to your reply PDD.

Mikon

pure_dead_dopey

Morning guys

Mikon if Next/Moorcroft will not play nicely you have to report them to the OFT and the FO. That's what these guys are there for and you have to utilise the protection you have. All creditors and DCAs work on the premise that you are scared and pretty ignorant (which most of the public are when it comes to debt), the way to beat them is knowledge knowledge knowledge. They can't do very much really and rely on sending scary letters to get you to scurry about in a panic, don't do it, read stuff up and react in a calm and assertive way, debt is NOT a criminal offence, if they take you to court they don't prosecute you, its a two way process, you get your chance to give your version and there are thousands of winners out there.
I have reduced my debt by using UE, DH and I have had 5 creditors admit they have no CCAs, they can moan and groan and write letters and sell them on and jump up an down but they will NOT get a judgement against us while they have no CCA and have admitted it. That is how UE works, others don't have CCAs either but are very loath to admit it, one forged a CCA, a couple are just ignoring us completely. This is how it works and when these debts have fallen off our credit report they will be gone for ever, no arrangements to pay for 10 years, no late defaults, just gone in five years (6 in England and Wales).

Got to run, off up North

Mephista

Hi Guys

Just a quick note to say that so far, I'm glad I've gone it alone. My second creditor, Santander, have come back and very sympathetically accepted by reduced payment of £10 to them due to my current circumstances. They have also agreed to continue to stop the interest. This was good news and I only have a couple more to hear from but it will make a big difference to me. Unless of course I don't get another job! In which case, it truly will be the least of my worries. My temp job has once again been given a slight extension to 10 June 2011. Pray to God that there is a reason for all of this and a job is waiting for me at the end of a very sticking, rotting dirty cloud!!

Take care all from a very blustery, wet, gale force Northern Ireland.:D