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DMP Mutual Support Thread - Part 7

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  • mikon
    mikon Posts: 638 Forumite
    Thank you to everyone who provided me with advice on my ARGOS problem.

    I am going to wait until i get the next statement and see exatly what interest they apply after 2 months DMP payments. If it is still £6 then I will contact CCCS and ask them to contact ARGOS and ask for the interest to be frozen.

    Thanks once again.

    Regards
    Mikon Riding the DMP Rollercoaster full of ups and downs but i will get to the end. :T
    LBM April 2010. DMP Start June 2010 - 11% of debt paid at June 11 to 11 creditors
    DFD In the Far Far Distant Future.
    :j
    DMP Mutual Support Thread No: 410 / DMP Without a Paddle No: 30
  • ianmak
    ianmak Posts: 1,125 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Debt-free and Proud!
    debrag wrote: »
    ok so I have a CC with Vanquis :eek: anyone had dealing with them? My limit is £250 but my balance is £457.91.

    I am getting charged overlimit fee @ £12, late fee @ £12, purchase interest @ 3.991% and cash interest @ 4.496% each month, so basically £39 ish a month.

    This months min payment is £63 with I can't afford.

    Should I go on a DMP for them?

    Are you actually on a DMP now? Is this your only debt?
    DMP mutual support thread No: 243
  • debrag
    debrag Posts: 3,426 Forumite
    ianmak wrote: »
    Are you actually on a DMP now? Is this your only debt?


    nope not on a DMP
  • ianmak
    ianmak Posts: 1,125 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Debt-free and Proud!
    debrag wrote: »
    nope not on a DMP

    But is this your only debt? If so, then DMPs are only for amounts over 1k. You'd have to include other debts if you have them.
    See links below for more info on DMPs.

    http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=29_debt_management_plan

    Have you tried explaining to vanquis of your difficulties in paying the minimum amounts?]
    DMP mutual support thread No: 243
  • yellowpinky
    yellowpinky Posts: 128 Forumite
    Hello everyone, hope you're all having a good weekend.

    My annual review is due, it's has come up on my Justabank homepage. I understand it's done over the phone but it's going to be really difficult for me to do it if it's only between 9 and 5 on a weekday, so I've emailed to ask if there's another way round it. It's a month or so early really as my first payment didn't go out till September last year, and bang on the time when I'm sending out these F & F offers, so could have done without it right at the moment! What happens when the new offers are sent out by Payplan, do creditors just generally accept if they already have done so? I hope it doesn't complicate things with the F & F's either.
    DMP Mutual Support Thread No 336 - proud to be a number!
    LBM - June 20th 2009
    Total of Horror :eek: - [STRIKE]£39,909[/STRIKE] August 2010 £35,421 :j
    DFD - Feb 2018 (approx). I'll be 47 :eek: :eek: !!
  • debrag
    debrag Posts: 3,426 Forumite
    ianmak wrote: »
    But is this your only debt? If so, then DMPs are only for amounts over 1k. You'd have to include other debts if you have them.
    See links below for more info on DMPs.

    http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=29_debt_management_plan

    Have you tried explaining to vanquis of your difficulties in paying the minimum amounts?]


    I have one other but thats in disbute. Payplan say they can help though it didn't say how online, CCCS remedy said to make token payments.
  • dmb_2
    dmb_2 Posts: 330 Forumite
    dlb wrote: »
    Your DMP will run until your ballances are zero, so if they are still applying interest it means your DMP will run longer than you originally thought, i was told origially that i would be debt free within 5 years as it stand i have been on dmp for 4 and half yrs and have approx 15 payments left, i am fully aware this is a approx debt free date, and i will just continue to pay my set monthly amount via payplan until the ballances are zero. Or nearer the end payplan have informed me that they will start to offer full and final settlements to my creditors each being offered a % of my monthly payment as final settlement, if they dont accept then they continue to get what they are getting until ballance is clear.
    Hope that makes sense?
    Donna x

    I thought DMP length was a fixed period. It's a bit worrying to think it could go on longer than that quoted. Guess I might be working until I'm 70 at this rate!
    DeeBee
  • dlb
    dlb Posts: 2,488 Forumite
    dmb wrote: »
    I thought DMP length was a fixed period. It's a bit worrying to think it could go on longer than that quoted. Guess I might be working until I'm 70 at this rate!

    A IVA is a fixed period, a DMP lenght can be effected by crediotrs not stopping interest or maybe only reducing it, so because of this only a approx debt free date can be given. It all depends on how your creditors play along, but whatever they do you will be clearing debt with each payment and on the way to that debt free date.
    Proud to be DEBT FREE AT LAST
  • PaulB79
    PaulB79 Posts: 99 Forumite
    Hi All

    Anybody else had any problems with Payplan this month making smaller than the agreed monthly payments to their creditors? I have paid the same amount to Payplan for the past year of £xxx.xx but yet they have decided to pay only some of this out in smaller amounts to each creditor.

    I have asked them for any explanation but wondered if anyone else was having the same problems? I am slightly concerned as they have all agreed to stop interest at the moment and dont want to the boat.

    Thanks

    Paul
  • ianmak
    ianmak Posts: 1,125 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Debt-free and Proud!
    PaulB79 wrote: »
    Hi All

    Anybody else had any problems with Payplan this month making smaller than the agreed monthly payments to their creditors? I have paid the same amount to Payplan for the past year of £xxx.xx but yet they have decided to pay only some of this out in smaller amounts to each creditor.

    I have asked them for any explanation but wondered if anyone else was having the same problems? I am slightly concerned as they have all agreed to stop interest at the moment and dont want to the boat.

    Thanks

    Paul

    The only issue I had with them recently was a late payment, but that was mainly due to February being a short month, and March being a long one. Or something like that!
    DMP mutual support thread No: 243
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