DMP Mutual Support Thread - Part 7

suze72

Hales82 wrote: »

Hi all

I've spent hours today reading through this thread and it's been so helpful and informative. Me and my husband are poised to enter into a DMP. We can't bury our heads any longer and we need a solution. Feel very stupid and ashamed, along with a feeling scared about the unknown we're getting into

I do have a query I'm hoping someone can advise with. We are going to open new bank accounts tomorrow but we have missed the date with our employers to get our salaries paid into the new accounts. Plus I think I probably won't be able to change the DD's over either.

In the info from the CCCS site, if we have payments due before the DMP start date (which we will, Feb's payments) you're supposed to send a token payment. I did think about withdrawing our salaries and transferring them to our new account (leaving enough to cover our DD's in our old account) but I'm concerned that our bank (HSBC) will just take the money they're owed as soon as they get our token payment and realise we are in difficulty. If this was to happen our DD's will begin to bounce, meaning we will be in a right mess.

Can anyone advise on the best way to time it? Alternative would be to make Feb's payments, but that will just be robbing Peter to pay Paul. Or we could pay HSBC as normal (we have a credit card and overdraft) and just given token payments to our other creditors, but would we then be seen as giving preference to HSBC?

Gah, it's such a mess

It's always a bit of a juggling act at the beginning of a DMP.

Does yours start in March? If so then technically I would think that you should be able to pay HSBC the normal payments in Feb without worrying about being seen to favour one creditor over another - this is just my opinion, it may be worth waiting to see what others advise.

Sue

scouselad1974

mikon wrote: »

Hi everyone hope you have all had a good day.

Interesting piece of post arrived today from NEXT this one has been dragging on for days see my previous posts.

It reads :

Further to your request to reduce your monthly payment to NEXT Directory (What Request?). To enable us to process the reduced payment, I would be grateful if you could sign and return the enclosed agreement.(I wonder why they want a signed agreement mmm..)

Please note the reduced payment and credit agreement must be returned. The agreement will commence Feb 2011.

I am a little confused one day they inform me that they are transferring the debt to a DCA (was this another method to get the o/s balance paid?). Then I receive a letter setting up a new payment plan. I think NEXT are desperate for me to sign a Credit Agreement. Especially as the original agreement was set up in 2005.

They finish by saying to support you further I have suspended the normal monthly service charge for the period of this agreement.

I am a little confused. I think I will just send a bland letter stating that I am on a DMP and CCCS are working on my behalf and I will continue to make reduced payments on time as I have done for the past 7 months. I will also ask them to refund the service charges.

What is everyones thoughts on this.

Regards

Hi

I get the same letter every 3 months or so and each time I respond with a letter stating that I'm on a DMP with CCCS, blah blah blah and I continue paying the agreed repayments via CCCS.

Next are trying to get you to sign a new credit agreement which actually breaks the terms and conditions of your DMP with CCCS.

My guess is as soon as they receive your signature your debt will be sold to a DCA, which to be honest probably isn't that bad a problem, I have a few with DCA'S and they have been easier to deal with than the original creditors, although that isn't always the case.

ianmak

Welcome to all newcomers...

B17c 404

sarahowen

Hi, everyone

I had a telephone appointment with the CCCS today and their recommendation was to put me on a DMP. I'm really not sure if this is the best way to go. Whilst I'm weighing up what I think are the pros and cons, I was wondering what other people's experiences were. I'm having a trawl through the thread but I was wondering if people could tell me what they're experiences have been. My big worry about entering into a DMP is what happens if a creditor does not accept the CCCS's payments. Also, has anyone had any dealings with Wonga on a DMP?

Many thanks

Squirrel29

I've sent back the letter of authority today to payplan and my case worker is calling me tomorrow. Payplan rang me today to confirm this appointment. She advised me that I should try to pay my Next bill off as it quite small (£93). I've now done this although it'll leave me a bit strapped this month and I'll have to fiddle around with my budget (I'm actually following the one Payplan advised, so this month there'll be no haircut, car maintenance funds plus less for food shopping. On a positive I also paid off the balance of my car insurance premium rather than face a £26 admin charge for changing bank account!!! I've not yet sent token payments but have kept back the amount that payplan will be using to pay my creditors. Will payplan want this straight away and will they dish it out this month, or should I send off template letter plus cheques?

Also I have to decide whether to pay the payment protection out of my payment. To my mind, it's £5 a month less for creditors so I'm in two minds? I just feel a bit in limbo with what I'm meant to be doing!!

mikon

Hi Everyone

Received a call from the following number 0844 8733571 an automated message regarding debt. How have they obtained my home number and has anyone else received calls from this number.

mikon

scouselad1974 wrote: »

Hi

I get the same letter every 3 months or so and each time I respond with a letter stating that I'm on a DMP with CCCS, blah blah blah and I continue paying the agreed repayments via CCCS.

Next are trying to get you to sign a new credit agreement which actually breaks the terms and conditions of your DMP with CCCS.

My guess is as soon as they receive your signature your debt will be sold to a DCA, which to be honest probably isn't that bad a problem, I have a few with DCA'S and they have been easier to deal with than the original creditors, although that isn't always the case.

Scouselad

See my last couple of posts regarding NEXT. I agree with you I think they want me to sign a new Credit Agreement. As they wrote last week informing me that they were selling the debt on to a DCA then I received the letter you replied to 4 days later.

I am writing to them similar to what you said.

Thanks for your reply.

ianmak

mikon wrote: »

Hi Everyone

Received a call from the following number 0844 8733571 an automated message regarding debt. How have they obtained my home number and has anyone else received calls from this number.

You've only received one call? I was receiving around 4 a day at home, couldn't care less as I'm at work, plus a couple of times at work, which mean's it'd have to have come from a couple of my creditors...

ianmak

sarahowen wrote: »

Hi, everyone

I had a telephone appointment with the CCCS today and their recommendation was to put me on a DMP. I'm really not sure if this is the best way to go. Whilst I'm weighing up what I think are the pros and cons, I was wondering what other people's experiences were. I'm having a trawl through the thread but I was wondering if people could tell me what they're experiences have been. My big worry about entering into a DMP is what happens if a creditor does not accept the CCCS's payments. Also, has anyone had any dealings with Wonga on a DMP?

Many thanks

Well I think the majority here have had good experiences so far. It's very stressful at the start, with hounding from creditors and DCAs demanding payment, but once it settles down it's ok. The creditors will generally accept the payments after a while (think it took 6 months for me), but at any rate they will take the money offered and subtract it from the debt (while hopefully not charging you interest at the same time).

Personally I had a lot of phonecalls and letters, I was always happy to answer the phone, and explain that I'd started a DMP with PayPlan, and provided my ref id. They will ask for payment, but you just have to be firm and say NO, and that payment will come from PayPlan. Most of the time they were happy with that, and they'd hold off the calls for a period until they'd heard from PP. Other times they were horrid and damn mean. But they still didn't get any money from me.

Other than that, you'll receive Defaults no doubt, let PP know out of courtesy, and if you receive other letters or anything that should really be responded to, then either speak to PP/CCCS, or speak to the Creditor direct (This of course if from my experience, and not what is recommended necessarily).

You'll have periodic reviews with PP, and you'll see how you're getting on, and reduce and increase payments as necessary.

Hopefully others will be along to give their experiences.

Any more questions, ask away!

sunfleur

Yep we get the exact same ones every 3 months. They just want to get you onto their little system where they are in control rather than you. CCCS have been making our payments to them for 7 months now and they still write with these things. We just keep them in our file. The funny thing is we are actually paying 20p more than the amount they want us to pay LOL! Every now and then we write to them telling them what CCCS have allocated them and how many payments we have made to them etc.

Sunfleur

mikon wrote: »

Hi everyone hope you have all had a good day.

Interesting piece of post arrived today from NEXT this one has been dragging on for days see my previous posts.

It reads :

Further to your request to reduce your monthly payment to NEXT Directory (What Request?). To enable us to process the reduced payment, I would be grateful if you could sign and return the enclosed agreement.(I wonder why they want a signed agreement mmm..)

Please note the reduced payment and credit agreement must be returned. The agreement will commence Feb 2011.

I am a little confused one day they inform me that they are transferring the debt to a DCA (was this another method to get the o/s balance paid?). Then I receive a letter setting up a new payment plan. I think NEXT are desperate for me to sign a Credit Agreement. Especially as the original agreement was set up in 2005.

They finish by saying to support you further I have suspended the normal monthly service charge for the period of this agreement.

I am a little confused. I think I will just send a bland letter stating that I am on a DMP and CCCS are working on my behalf and I will continue to make reduced payments on time as I have done for the past 7 months. I will also ask them to refund the service charges.

What is everyones thoughts on this.

Regards