DMP Mutual Support Thread - Part 7

ianmak

darwins_mum wrote: »

Thanks for that Ianmak, any idea how long before the debt is sold on? I am quite keen to be in a position to offer F&F of less than 50% and start to repair my credit file.
I rang Lloydstsb and they told me to ignore the letter as they have accepted the terms of my DMP (why bother sending the letter then). They didnt confirm whether the intereset had been stopped - perhaps I will ring back and check.

On a more positive note, I may have potential lodgers for my room - got quite a positive response from my ad. DS will just have to lump it or sleep in the car.
Have a good day y'all.

I had an e-mail from PayPlan that mentioned about the Government's Rent a Room. http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/TaxOnPropertyAndRentalIncome/DG_4017804 Any use if you haven't already looked?

jazzrose343

Hi

I am a bit of a newb at this.

I have until recently been working through setting up a Self managed DMP and had come to arrangements with the majority of my creditors and were negotiating with the rest.

However I have just had my overdraft facility withdrawn by the Halifax and lost the rest of this months wages.

It was top late for me to change over wage payment to my basic bank account for my last wage payment and it was going to start into that account for this month.

The withdrawal of overdraft facility has resulted in me defaulting on many of the agreements that had been reached and as I have been unable to make further payment have now been passed to DCA.

I have contacted pay plan and have a telephone appointment for this Saturday with a specialist regarding setting up a DMP.

I am asking for advise as how to deal with my creditros in the meantime. I have sent letters to the majority requesting they stop contacting my work telephone number and in some cases for everything to be put in writing.

Not all these have been respected as of yet with Fredrickson International being the worst. They are continually calling my work.

ANY HELP OR ADVISE IS GRATEFULLY RECIEVED.

ianmak

jazzrose343 wrote: »

Hi

I am a bit of a newb at this.

I have until recently been working through setting up a Self managed DMP and had come to arrangements with the majority of my creditors and were negotiating with the rest.

However I have just had my overdraft facility withdrawn by the Halifax and lost the rest of this months wages.

It was top late for me to change over wage payment to my basic bank account for my last wage payment and it was going to start into that account for this month.

The withdrawal of overdraft facility has resulted in me defaulting on many of the agreements that had been reached and as I have been unable to make further payment have now been passed to DCA.

I have contacted pay plan and have a telephone appointment for this Saturday with a specialist regarding setting up a DMP.

I am asking for advise as how to deal with my creditros in the meantime. I have sent letters to the majority requesting they stop contacting my work telephone number and in some cases for everything to be put in writing.

Not all these have been respected as of yet with Fredrickson International being the worst. They are continually calling my work.

ANY HELP OR ADVISE IS GRATEFULLY RECIEVED.

Hello, welcome and good luck.

It's a bit late now, but when setting up a DMP, the overdraft needs to be added to the DMP as it counts as a debt.

In the meantime, if you haven't already done so, pay token payments of £1 to each creditor, until the DMP and agreed payment amount has been setup. I know you don't have much money left for the month, but a payment to a creditor, however little, will at least show willing.

Other than that, you're going in the right direction. PP will advise what you need to do, but read through this thread for ideas, or post for other help and advice.

Also have a look at www.nationaldebtline.co.uk which is really good for letter templates and things like that.

ianmak

Oh and perhaps explain to the creditors what's happened this month and asking if they'd accept a smaller payment for this month.

jasperconran

need some advice guys. My OH received a letter last week from Blair, Oliver and Scott about his account on behalf of scalifax.

I spoke to CCCS who assured me that they had dealt with the matter and send a proposed payment plan to them. However, today my OH received yet another letter stating that if someone does not contact them within 5 days, legal proceedings may commence:eek::eek: I wouldnt mind, but the poxy letter is dated 5th January, I spoke to the CCCS last wednesday which was the 5th!!! so can I assume that there have been crossed wires????

My OH will not ring these people as we have had a death in the family, so I informed CCCS about receiving this letter. dont know what else to do, anyone?????

bathanwells

Hi everyone


Quick update, Dmp direct debit is set up just waiting to hear back from the creditors on payment acceptance.


Had a few computer generated letters, i have even spoken to a few, Santander loans were exceptionally nice with no real issues. HFC were slightly different........lots of can you pay this month etc..

Spoke to vanquis when once explained to stopped the hassling phonecalls and texts

Thought i would be quite fearful of making these calls....but now
i don't really care!!!

Lets hope aceeptance goes smoothly.....:)

ianmak

jasperconran wrote: »

need some advice guys. My OH received a letter last week from Blair, Oliver and Scott about his account on behalf of scalifax.

I spoke to CCCS who assured me that they had dealt with the matter and send a proposed payment plan to them. However, today my OH received yet another letter stating that if someone does not contact them within 5 days, legal proceedings may commence:eek::eek: I wouldnt mind, but the poxy letter is dated 5th January, I spoke to the CCCS last wednesday which was the 5th!!! so can I assume that there have been crossed wires????

My OH will not ring these people as we have had a death in the family, so I informed CCCS about receiving this letter. dont know what else to do, anyone?????

I'm sorry to hear about your bereavement.

I would imagine there has been a crossing of wires if there letters are dated the same. Not a lot you can do other than phone them (they are understanding and will prob confirm they have received a payment plan), however I know you can't do this. Just hope that CCCS have informed BOS as you say.

Hopelessly_Hopeful

mikon wrote: »

Ianmak

The outstanding balance is £795.03

The Monthly repayment is £8.00

Monthly interest in £6.03

What is the % being charged in interest I am told it has been reduced from %29.9 to 9% can anyone confirm this.

Thank you

ianmak wrote: »

In my sledgehammer calculations, I think they are.

1 year's interest is £72 (12x £6.03)
Divide £795 by 100 to give your 1% (£7.95). Times that by 9 to give you 9% (£71.55)

The two amounts (£72 & £71.55), so I'd say they are charging 9% interest.

Please correct me if I'm wrong people!

Correct

I go a slightly different way around it but same result if that provides reassurance

Monthly payment divide by outstanding debt x 100/1 = monthly interest % x 12 to get APR

So.....
603/79503 x 100/1 = 0.758 x 12 = 9.10%


Hugs Twitty

Hope everyone else ok xx

Squirrel29

Hi, about to start DMP with Payplan but just in limbo for another week until I can rescue my wages from bank after payday and get into my new 'safe' account. I'd carefully worked out my money for rest of month (if only I'd done this years ago, I wouldn't be in this pickle!). Payplan told me not to make any more min payments to creditors so on the 8th Jan I cancelled my Barclaycard dd that was due on the 10th. I just planned to send token payment. Nationwide assured me it was cancelled but it's gone out. I'd left enough in for my car hp which is being kept out plan, my car insurance and council tax. I've got £40 cash in purse for food/fuel.

As Barclaycard have got £57 more than intended and what was put down for DMP, would it be bad of me to pay my council tax on the Barclaycard? Council tax is £83. I could then pay the £30 odd difference back to Barclaycard? My council tax isn't yet set up as dd, I pay it online each month, hence that being the easier one to put on cc?

secretshopper75

Squirrel, Not sure if the Council accept credit card payments for council tax?