DMP Mutual Support Thread - Part 7

grantalien

ianmak wrote: »

Also I believe you can't get a CO before a CCJ - but only if you fail in your CCJ requirements?

they apply by way of a forthwith judgment - obviously not many on a dmp can pay the full amount outright so they get the CO to secure it.

Nationwide solicitor would have accepted £1 p month if the CO was granted! the court had already turned it down once, courts don't like school age children living in a property that could be threatened by a creditor.

Bit a worried a few people on the DMP board think a CO is no big deal! - it is really as they have secured a debt against your property that COULD be a major factor if your circumstances changed and they tried to enforce it! - my advice CO is something to be fought!

inamess_man

to try and put my blabbering into figures

total c card debt is 13.673.00

6 creditors

amount available to pay monthly is £220 /6 = £36.60

cant quite work the formula to assign that to the indivdual creditors

any help appreciated

inamess_man

sorted the above now brain goes to mush on a weekend and when sorting out my own finances

will send letters this week and be back on here when i get replies with no doubt more questions...


finally question for now this month i have made very small payments (£10 for example) is that ok until the creditors agree to new payment plan?

thanks

Loubylou2

grantalien wrote: »

they apply by way of a forthwith judgment - obviously not many on a dmp can pay the full amount outright so they get the CO to secure it.

Nationwide solicitor would have accepted £1 p month if the CO was granted! the court had already turned it down once, courts don't like school age children living in a property that could be threatened by a creditor.

Bit a worried a few people on the DMP board think a CO is no big deal! - it is really as they have secured a debt against your property that COULD be a major factor if your circumstances changed and they tried to enforce it! - my advice CO is something to be fought!

Thanks Grantalein I am actually really afraid of the thought of a CO and sorry to ask for the fiftieth time but am I understanding you right that they can definitely only ask for one if a prior CCJ aproved in court is not paid on?


My three are all at home and the youngest for at least 5 years.

Hopelessly_Hopeful

inamess_man wrote: »

sorted the above now brain goes to mush on a weekend and when sorting out my own finances

will send letters this week and be back on here when i get replies with no doubt more questions...


finally question for now this month i have made very small payments (£10 for example) is that ok until the creditors agree to new payment plan?

thanks

Hi

Is they are all CCs that makes it simpler, yes just divide what you have available by 6. As far as token payments go I paid £10 to each creditor but they don't treat you any different to if you paid the usual £1 token offer. If I had my time again would have sent a token of £1 and squirrelled the rest away to an emergency fund.



Lou, sorry can't help. Have you tried the as a CCCS thread?Let us know how you get on

HHx

darwins_mum

Howdy all, I too got a letter at the weekend, Lloyds have written stating the amount owed and urging contact. CCCS have emailed and advised that they have rejected the DMP.
Just wondering what happens now? How long before it is passed to a DCA?
Does anyone know whether they have their own "in house" service or will it be external?

thanks for any advice

ianmak

inamess_man wrote: »

sorted the above now brain goes to mush on a weekend and when sorting out my own finances

will send letters this week and be back on here when i get replies with no doubt more questions...


finally question for now this month i have made very small payments (£10 for example) is that ok until the creditors agree to new payment plan?

thanks

You should really treat all creditors shortly. So work out the percentage of total debt per creditor, then apply the same percentage to what you can afford to pay.

So in it's most simplistic form, if you had 10k of debt and could afford £100 a month, and 2k of one creditor and £500 of another..... then £20 of that £100 would go to one creditor, and £5 would go to the latter.

Does that makes sense?

Hopelessly_Hopeful

ianmak wrote: »

You should really treat all creditors shortly. So work out the percentage of total debt per creditor, then apply the same percentage to what you can afford to pay.

So in it's most simplistic form, if you had 10k of debt and could afford £100 a month, and 2k of one creditor and £500 of another..... then £20 of that £100 would go to one creditor, and £5 would go to the latter.

Does that makes sense?

Hi Ian

Hope you are having a good weekend

Don't mean to be rude but it's a percentage of CONTRACTUAL amount that payplan and cccs use not a simple divi by number or debtors which is why loans etc are treated a little different to ccs, in essence they are still all treated equally but not simply divide by number of debtors.

I hope that helps

HHx

inamess_man

thanks ian

i have worked out the creditors to an equal percentage which hopefully they will agree to

ianmak

Hopelessly_Hopeful wrote: »

Hi Ian

Hope you are having a good weekend

Don't mean to be rude but it's a percentage of CONTRACTUAL amount that payplan and cccs use not a simple divi by number or debtors which is why loans etc are treated a little different to ccs, in essence they are still all treated equally but not simply divide by number of debtors.

I hope that helps

HHx

Don't mean to be rude back, but that's how CCCS work. PayPlan work it out differently, effectively the way I mentioned above, and my loan is treated the same as the CCs.