DMP Mutual Support Thread - Part 7

Hopelessly_Hopeful

Chillimonster wrote: »

Well - after a while with my head in the sand (well quite a while actually) i added up my debts and made the call to PayPlan this evening. I was sooooo nervous i could hardly speak, but the guy at PP was superb and really put me at ease. I have a telephone appointment with a specialist on Thursday 8am to discuss in detail, and come up with a DMP.

Total Unsecured debts for me and the OH are £52k across 7 credit cards, a Next account and a 5k OD with the Halifax.

The CC's went through the industrial shredder at work this morning, and even that made me feel a lot better.

There are a few payments due this week - what should i do? Reading through this i presume i send 'token' payments to them all just to show i've not forgotten about them (i wish!!)?

So in essence.................. HIYA!!!

Gonna be around here for a good while now.

Hi Chilli,

That's a significant step forward already then.

Send token letter payments and £1 postal orders to each creditor until your dmp is set up. Any left over squirrel away for an emergency fund.

Good luck with your set up.

HHx

2spicy

Just received an email from Payplan ...


"Dear Mr and Mrs 2Spicy .....

The OFT have published a report highlighting widespread problems within the debt management industry
including misleading advertising and poor advice to those in debt. They have ordered 129 firms to clean
up their act within three months or face losing their licences.

As a free debt advice provider, Payplan welcomed this investigation and its findings. In their review of
Payplan, the OFT found our business and processes are compliant and meet all of the standards as set out
in the Consumer Credit Act 1974 (the Act) and the OFT's Debt Management Guidance. When interviewed
by BBC Breakfast this morning the OFT specifically mentioned Payplan as one of the good providers.

Particular problems identified by the OFT include: i) Misleading advertising by suggesting, wrongly that services were free
ii) Frontline advisers offering poor advice
iii) Little awareness among customers that they could take complaints about firms to an independent ombudsmen
iv) In the worst cases, the use of lookalike names to appear to be charitable or government organisations
v) Some businesses also tried to discredit the free services offered by the advice sector

We believe that all consumers should receive advice that is fair and in the best interests of the individual
and their situation. Over the past year we have increased our efforts to actively campaign for the
government to regulate the debt management industry and today's report by the OFT will help to ensure
that action is taken to safeguard consumers against poor advice and unfair practices.



Yours sincerely

Payplan"

:T:T:T:T:T:T

helena83

So so cross today! As mentioned before I work for a bank and have been very careful to follow correct procedures whilst also trying to keep my personal finances confidential from colleagues. I've just found out today thy the letter I sent in regarding setting up a DMP has been sent to be dealt with by staff at a branch I used to work at! Anyone in the branch can pick up the memos and so now they know about my situation. I knew it would be raised with my line manager which I had already done anyway but I am horrified that they have asked colleagues of mine to respond about the letter I sent in! Not sure what to do now feel like kicking off at someone!

2spicy

helena83 wrote: »

So so cross today! As mentioned before I work for a bank and have been very careful to follow correct procedures whilst also trying to keep my personal finances confidential from colleagues. I've just found out today thy the letter I sent in regarding setting up a DMP has been sent to be dealt with by staff at a branch I used to work at! Anyone in the branch can pick up the memos and so now they know about my situation. I knew it would be raised with my line manager which I had already done anyway but I am horrified that they have asked colleagues of mine to respond about the letter I sent in! Not sure what to do now feel like kicking off at someone!

Can you not request it be handled by someone else ? I would have thought that under data protection, you could argue by the very fact this person knows you, by having them involved would be a contravention to the data protection act ... or at least threatens to compromise your rights under the act ...
Assuming your line manager has been supportive, can you not request that he / she takes action out of professional courtesy ?

Personally, I would kick off big time if I was in your situation... as soon as I had covered my !!! !!

saltnvinegar

Hi All

No reason for my post other than to have a rant and say I am having a real cruddy day and am fed up with it all!

I'm usually really upbeat and positive but I guess this is one of my off days :mad:

SnV

the_tooth_fairy

saltnvinegar wrote: »

Hi All

No reason for my post other than to have a rant and say I am having a real cruddy day and am fed up with it all!

I'm usually really upbeat and positive but I guess this is one of my off days :mad:

SnV

I know exactly how you feel, I am usually the one with a smile and a kind word, but I went into a black cloud for about 2-3 weeks recently. Maybe it's because you can't escape any of it, the news is full of doom and gloom, and with the days shortening you just want to curl into a ball and eat shepherds pie and apple crumble! Maybe we were bears in a previous life (come to think of it, I may still be!).:)
It's hard to lift your spirits when you are like this, I usually find it's down to being tired more than anything, so maybe a long hot bath and bed early with a good book you love will help?
All be well!!!

ttfx

freedomfromdebt_2

In need of some advice. Does anyone have expereince of interest charges whilst in DMP?? In DMP with Payplan for a year now. All creditors have frozen interest except Halifax to which we owe largest amount - now around 14.5k. I did manage to get them to freeze interest for a 3 month period but they have recently been charging more interest than my monthly payment which is £219. I contacted Payplan about this and they have been in touch with Halifax. Result is that they have reduced interest charges to 12.5% but this means out of 219 only about £73 is paying off debt! Our est date to be debt free was 2015 but I calculated that it will take us about 15 years to pay off Halifax! Advice from Payplan as to waht happens in 2015 has varied. Does Halifax write off rest of interest at this point or will we remain in debt until we have paid whole lot??
New to this posting so hope its all in the right place!!!

ianmak

freedomfromdebt wrote: »

In need of some advice. Does anyone have expereince of interest charges whilst in DMP?? In DMP with Payplan for a year now. All creditors have frozen interest except Halifax to which we owe largest amount - now around 14.5k. I did manage to get them to freeze interest for a 3 month period but they have recently been charging more interest than my monthly payment which is £219. I contacted Payplan about this and they have been in touch with Halifax. Result is that they have reduced interest charges to 12.5% but this means out of 219 only about £73 is paying off debt! Our est date to be debt free was 2015 but I calculated that it will take us about 15 years to pay off Halifax! Advice from Payplan as to waht happens in 2015 has varied. Does Halifax write off rest of interest at this point or will we remain in debt until we have paid whole lot??
New to this posting so hope its all in the right place!!!

All you can do is keep asking politely. Creditors don't have to stop interest whilst you're on a DMP, and it's one of those gentlemanly (or ladyly) agreement things).

PayPlan will always say that come the DFD, they will ask again to write off charges, but it maybe that you have to carry on until it's paid off.

Sorry!

Chillimonster

Well, just had an hour of sorting out all of the account numbers and balances for the creditors and sorting the SOA out ready for my call with PayPlan on Thursday AM

It's funny, but after months of sitting on my hands and worrying myself to sleep, i feel kinda serene now its 'out in the open' (if that makes any sense!?!)

I know there are hard times ahead and there will be ups and downs for us as a family, but WE WILL get through this and it will make us stronger and closer as a result.

I've read that its best to open a new bank account while on a DMP with an organisation that is not a creditor - easier said than done as they are all slowly becoming one.

Who's my best option considering these are the creditors in question....


Barclaycard
Halifax Credit Card
Monument
Virgin
Egg
TSB Trustcard
Halifax Credit Card
Next
Halifax Overdraft

Ta!

Chilli :-)

cupc4kes

Hi All :wave:

You lot dont half talk,lol. Helena83 not sure whether your midwife has given you the paperwork for the Health in Pregnancy grant but if not ask ASAP we can still get it although it does stop in Jan but Ive got my paperwork and I know theres not much difference in our due dates. Thats wrong sending your paperwork to a branch you used to work at and is local to you!! I would of thought that all that type of paperwork would have to go to a central dept not local branch but different banks different procedures. I would also think you have the right to say that these are collegues you know in and out of work so that its wrong for them to deal with this issue. I would ring HR and get advice if your still not happy maybe your Union?

SnV whats wrong?? Whats got to you?? :grouphug: xxxxxxx

Well I thought our plan was well underway as we had a meeting on Sat to add me on OH's account all ID took no prob then today still not recieved anything throuh so OH has rung and they cant see anything :mad: he's been told we have to go into the branch to see whats happening branch shuts at 4:30 so he's gonna ring branch tomorrow as we cant get in till Sat but then thats another few days we could do without having to wait, so as of yet no DD's have been switched and the next lot go out on the 1st agghhh. Why cant things just be simple. Oh well thats my rant over for today,lol xxx