DMP Newbies

Wonder_Girl

ozzyfan wrote:

They then went on to offer to rewrite the loan we have with no ppi & 0% interest :shocked::j

WARNING!!!

Can you tell me which creditor this was?

there are only 2 creditors that ever do this AND mean it, please be aware that a rewrite is also classed as "new credit" which is breaking your DMP agreement, not that I’m saying don't go for it but i would check it out first

Also bear in mind that although the repayment for the "new" terms might match what your paying them through the DMP already that in the future if you have to reduce for any reason you can't prioritise this creditor above anybody else and the new account may default and start to go down the same recovery path.

Sorry to be a kill joy, I’ll be off now to go and annoy my cat

WG xx

ozzyfan_2

Thanks WG, we had a letter from cccs to say that our creditor had contacted them about getting the loan rewritten & that they recommended that we should go ahead & send a copy of the new signed agreement so that they could update our account.
Its HFC Bank, is this ok?

Wonder_Girl

ozzyfan wrote:

Its HFC Bank, is this ok?

Phew Yes thats fine HFC do great 0% rewrites an knock a bit off the balance too

They were in fact the only people that did that until about 3 weeks ago when another company started doing it, fingers crossed all the others will follow suit soon :beer:

WG x

ozzyfan_2

Wonder_Girl wrote:

fingers crossed all the others will follow suit soon :beer:

Will be keeping everything crossed for us all too & I may even do the chanting thing! :rotfl:
Our HFC balance is currently £4266, its being rewritten at £3202 which should take us under £28k very shortly (was £32042 when we started our dmp in March)
Hope everyone has a lovely NO POST day today :j

spud30

ozzyfan wrote:

Black horse are one of my creditors too & I think we had only one solicitors letter from them, can't guarantee you'll only get the one but Black Horse were really civil everytime they rang & we just had to give our cccs number. They didn't accept the first offer they had but when we upped our cccs payment slightly they accepted.

Thanks Ozzy :beer:

Maybe thats what we need to try and do. If we increase our payments, they might accept like they did with you.

I wouldnt mind, but I spoke to Black Horse and they were really nice. Said to carry on paying the token payment under the circumstances then a week or so later, I get a solicitors letter.

Off to have yet another look at the budget. I'm panicking a bit because the fixed rate on our mortgage ends next month, and I havent a clue how much it will increase by.

WG, if you're around, do you think increasing our payments would be a good idea

spud30

chelly63 wrote:

Spud I hope that you have a good time this evening and are able to relax and enjoy yourself.

Thanks Michelle.

I had a fab time. My DD and I went, and left the boys at home

The bar was really cheap so I had a fair few voddy and cokes :beer:, and only spent £10 all night.

Embarrassed my DD on the dancefloor - fab night

Wonder_Girl

spud30 wrote:

WG, if you're around, do you think increasing our payments would be a good idea

If you can afford it then yes, but otherwise no, if you increase every time one of your creditors want a bit more it will never end, they always want more and they will never be happy. Your doing the best you can, they can't do anything except get CCJ's and maybe charging orders, but that’s it and you will still have your house and all your stuff. they have very little power just very nasty words.:o

WG xx

spud30

Hi love,

There could be a bit of room for an increase in our payments.

OH has just had his annual payrise, it's not a lot but it all helps.

Also, I start my other PT job next month. As I said, I'll be able to judge it better when I find out how much our mortgage is going up.:o

I just hate this feeling of dreading the phone ringing or the post coming. It's horrible :mad:

One creditor I spoke to yesterday said I can expect a home visit. I've tried really hard to keep the kids in blissful ignorance of all this, it would be awful to get a knock at the door :eek:

frankie1_2

I'm now in my second month of my DMP and already feel exhausted and totally skint. I have spent the past 5 years spending like an 'Oil Baron' and have accumulated debts of nearly £90,000. I have now received the required help I need to manage my debts and am paying £865 per month to my creditors. My debt is due to be repaid in 2015.
Does anyone know if creditors are likely to agree to an earlier settlement if I demonstrate some years of good and consistent repayment.
Can you advise me please 'Wonder Girl' ????

spud30

Wonder_Girl wrote:

DON'T PANIC!!!

nine times out of ten these are system generated an mean !!!!!! all. (well actually they mean to scar the bejesus out of you to make you pay when you can't (as per Mr Spuds reaction)

I'm here for a moan, look away now :mad:

Just rang re our solicitors letter.

I explained our circumstances, said that we were hoping to increase our offer of payment very soon.

The cheeky mare on the phone wanted to know all sorts of stuff including the name of my employer. She then suggested we could pay the arrears by credit card :eek:

I explained that the credit card company was in the same boat as her, need paying etc and she sounded really put out that we wouldnt pay over the phone :mad: :mad: :mad: :mad:

I hate all this, I really do