DMP Mutual Support Thread - Part 7

Pink-Angel

Thanks for DMP number

Pink-Angel

Thanks so much for all the helpful info about creditor contact in your post. I'm going to keep it for reference.

Pink-Angel

B17c wrote: »

Thanks Pink Angel!
It IS a letter accepting the offer of reduced payments, altho they are still charging interest (6.5%?), they want me to cut up my cards and send them back, then, when they receive them, they're going to send a CCA that i have to sign....

Have posted the same question on " ask a CCCS councillor" thread...
Thanks! x

Hi B17c,

I would have been thrown by that letter too! Mikon has posted an excellent post, as you'll see, about communicating with creditors. Good that you're asking CCCS too -they'll be able to advise you x

HC1971

Hi everyone

Im hoping someone can help. Im new to this and in fact this is the first time I have ever posted on a forum, so please bear with me if I inadvertently don't follow ettiquette.

I began a DMP with Payplan in January this year and have just made my second payment. I have a car loan with Santander Finance, for approximately £3800. This is a loan and not a HP agreement and so it is included in my DMP. I have now missed four payments. Santander passed this debt to Code Red (their own debt recovery firm) and have now passed it to Credit . The offer of payment has been turned down and they told me they do not accept DMPs.

I have spoken to Credit and they have given me 3 options:
1) pay off the arrears which will be £800+ and resume the monthly payment as originally agreed, around £225. Not an option, if I had the arrears I would have paid them. Also now I am on the DMP their allocated payment is around £55.
2)Sell the car and pay them off completely. They keep telling me I have an asset and as such it is their policy to pursue the asset. They have suggested I can sell this myself or surrender the car to them. I have explained that it is a requirement of my job that I have a car as I need to travel and visit people in their homes.
3)Downsize the car. I have explained that I do not think there is any equity in my car to allow me to pay them off and have some left over. So they suggested I ask for a loan. I pointed out that I am not able to get a loan on a DMP as it could be considered fraudulent. They then said I could downsize by selling the car but only paying off the arrears, leaving me the rest of the money to buy another car and then resume the monthly payments of £225. As stated previously there is only £55 allocated for this debt and wouldn't this leave me in the same situation in a few months time when they are threatening court action again as they do not accept reduced payments? My other concern is that I need a reliable car; over the last year this one has cost me around £1000 in repairs and it currently needs a new spring and new tyre (i darent ask what thats going to cost!). Its only a punto so selling it would involve buying an older car that would likely be less reliable and cost even more and threaten the whole DMP.

If anyone has been in a similar situation particularly with Santander I'd really appreciate your ideas. Im really worried I will lose the car and this will jeopardise my job.

Thanks

Superbiatch

Pink-Angel wrote: »

Thanks for DMP number

Ooh-err I'm feeling ever so jealous, can I have one too please?

suze72

sarahowen wrote: »

Have only had an email from them requesting extra information but nothing else. Do they send a letter out giving you information about who is being paid what amount?

Once your DMP is up and running you will be able to log on to the CCCS website where you can see your budget details plus details of all your creditors and what they are being paid.

Sue.x.

suze72

HC1971, I think you really just need to stick to your guns. Santander can't just take your car away from you, it's not their property, but like most creditors they will try every trick in the book to try and scare you into paying more.

Have you thought about writing to them asking for all future correspondence to be in writing? It's so much less stressful and confusing than talking to them on the phone.

HC1971

Thanks Suze72. I will try that and will contact payplan as well. Its just so frustrating that they are not open on weekends as that is when I tend to get the letters and phone calls.

The only reason I phoned them was the letter said I had to act immediately and that failing to contact them would risk legal action. At the end of the letter they said they would do all they can to help but can only do this if I contact them. They also state they are a debt couselling company and so I thought they would be more sympathetic. I guess I am still learning about the kinds of tricks they pull.

Thanks

Twit_Head

ianmak wrote: »

Because I look at the list and there's not many that do stick around (although they may watch from the sidelines lol).

Whenever you post the full list I always wonder how many have repaid their debts.
They're probably all in the Bahamas drinking rum punch now, whilst we soldier on.............;)

'Twitty'

Twit_Head

the_tooth_fairy wrote: »

That's our girl!
Sorry work is so mad that I can only contribute at the weekend, but we are so glad to have our Twitty back.
Twitty, your reactions to the messages here reminded me of when my Grandfather passed away. He was my Dads' Dad, and MY Dad suddenly became more aware of how fragile your place in the world is, even though you are going through Hell. Dad,a frugal man (no DNA there then,) he even treated us all to a lovely holiday in Canada, where my Mum met with her brother, who we hadn't seen in years. Isn't it strange how the most awful experiences lead you to really think about what's really going on?

Welcome back!

ttf xxx

Thanks TF for your lovely kind and understanding message. You are right - the death of someone close to you makes you realise how so much is precious, and the things you should say to your loved ones but don't, and the stuff you want to do but never have time for.......
I've been overwhelmed by love and support from people.
Money matters but your bank balance ain't never going to give you a hug when you need it is?
I'm sure in the future we will present you with the 'Miss Frugality' crown and sash (start practising the smile kiddo!) but thanks as always for your wise words :A

'Twitty' x