DMP Mutual Support Thread - Part 7

Merecat_2

kingston_2730 wrote: »

Merecat, sorry I can't help you. This is the very reason why I am considering an IVA instead of a DMP. I sure hope those with more knowlege than I will come along to help you soon. Stay stong.

I know, some people seem to get on ok with their DMP I am just having a nightmare with it all. Plus trying to hold up my own business in this economic climate is a full time job on its own.

I just wish they would leave me alone to concentrate on building my business up hence more money for everyone! But NO thats to much to ask isnt it?.

The way they are pushing me they wont be getting anything as I am ready to walk away from the lot. Plus at the end of the day if they weren't so greedy in the first place by placing 33 percent interest on my card we wouldn't be in this situation. Muppets RANT OVER but thanks anyway

pure_dead_dopey

Merecat

I don't know enough to help, I'm sorry. I don't think you should be admitting the debt though and there is someone on here who specializes on this sort of thing, think it may be 10past6? You could try PMing for some advise. Chin up there is always an answer but I know how you feel.

Merecat_2

pure_dead_dopey wrote: »

Merecat

I don't know enough to help, I'm sorry. I don't think you should be admitting the debt though and there is someone on here who specializes on this sort of thing, think it may be 10past6? You could try PMing for some advise. Chin up there is always an answer but I know how you feel.

Thanks, hard sometimes isnt it. x

mikon

Merecat wrote: »

I have had court papers served on me, I sent the papers back saying i acknowleged them but was going to defend claim. I have requested a copy of my credit agreement from MBNA, as they reckon the account was opened year 2000.

Can anyone advise if the defence has to be written in "law language" or can I just explain in plain english why I defend the claim and that I am prepared to pay in installments?

I have read and reread this forum but I am sorry to say I am mentally and physically exhausted and I just cant take it all in. I have about 10 days left now to get the defence in. Or should I just admit it and offer payments?.

I am with CCCS and have been since last October and havent missed a payment. I cant understand why they have issued this as I am trying my best. What is the judge likely to do? has anyone had experiene of this?. I dont feel as though I have got any fight in me, especially when it is so complicated.

I am totally lost in a dark place.

Merecat

I just cannot understand why they have gone down this route. If like you have said you have not missed a payment then I just cannot understand it. Had they agreed to your DMP offer originally? The person you need to speak to is 10past6 he is the expert in this field. I guess the judge might ask the question has the defendant made an offer to pay the debt off and if so why have you brought the matter to court and wasted money. He may rule in your favour. But speak to 10past6 urgently.

Merecat_2

mikon wrote: »

Merecat

I just cannot understand why they have gone down this route. If like you have said you have not missed a payment then I just cannot understand it. Had they agreed to your DMP offer originally? The person you need to speak to is 10past6 he is the expert in this field. I guess the judge might ask the question has the defendant made an offer to pay the debt off and if so why have you brought the matter to court and wasted money. He may rule in your favour. But speak to 10past6 urgently.

I honestly dont know, that one of the reasons i want to defend it. I have paid through cccs since October they didnt accept by letter but stopped interest etc straightaway. I wrote to them and asked how much they would want to stop legal action. They wrote back telling me to complete form as I see fit!!!! CCCS then told me to phone them and ask - full amount now, or 6 months at 1140 a month!!!!!!! yeah i will write cheques out now for you now hey!!!. SO basically everything I have offered they have said no 2.

Merecat_2

Sorry to be a pain but how do I get hold of 10 past 6?

ianmak

Merecat wrote: »

Sorry to be a pain but how do I get hold of 10 past 6?

You can check the court threads and try posting your situation there? I'll see if I can find where he/she hangs out!

Hopelessly_Hopeful

Merecat wrote: »

Sorry to be a pain but how do I get hold of 10 past 6?

Morning

Here's a post by 10past6 https://forums.moneysavingexpert.com/discussion/comment/34514391#Comment_34514391

I you click on her name on the left hand side and then select ' send private message' that should do you

Hope that helps. Good luck

HHx

cheesedoffwithdebt

skintkazza wrote: »

Hi

This is my first post on here.

Firstly just wanted to say thank you, i have spent weeks reading this site and everyone seems so friendly and helpful.

I am currently dealing with payplan setting up a DMP. Although they have been friendly and helpful, they seem to be rushing through it. I have given them all the info on my debts and living costs and they have come up with a DMP plan. When i asked them if they couldexplain to me the difference between a DMP and a IVA they simply dismissed that a IVA wasnt for me without explaining why, is it possible to change the person i am dealing with? Others i have spoke to have seemed a lot more helpful.

I would like to stick with a DMP as i want to pay my full debt off. Just a couple of questions. How long does it take to set up? I am already behind on payments and scared. Also do Payplan help with all the phone calls and letters from the creditors or if someone doesnt agree to it. And what kind of a effect does a dmp have on my credit rating (not that i want to ever borrow again) but could i rent for example or is that unlikely? They say my plan could last 9 years!

Thanks for any help and advice your have, this is all so new to me

HI well I hope this helps- sadly Payplan were not for me and after loads of tussles with very dismissive people on the phone I've sacked them, taken on a proper IP and am proposing an IVA.

My understanding of the IVA rules are that creditors are looking for a minimum "dividend" on the debts- so if you multiply what you could pay by 60 (thats 60 months so 5 years) and compare that to the amount of your debt, if it's less than about 25% and I am not totally up to speed on what creditors will accept so please take this as a guide-then no an IVA would not be a proposition. What an IVA does is secure a payment period of 5 years where your finances are supervised, and at the end, the remainder of your debts are written off, therefore creditors are going to want to see a reasonable return if they will accept that as a proposal. It's not to be seen as a means of writing off debt however-an IVA is really an alternative to bankruptcy as I see it-where a DMP would just last for too long.

It sounds to me like you are not able to pay much in relation to your debts is that correct? What concerns me is that Payplan seem to take the view that it's ok to let anyone set up a DMP without taking a realistic view as to whether that's the best long term solution-so it might be worth you getting a 2nd opinion- CAP (https://www.capuk.org) are a non fee paying organisation as are CCCS, and National DebtLIne have some good information packs as well.

I hope this helps you!

Merecat_2

Hopelessly_Hopeful wrote: »

Morning

Here's a post by 10past6 https://forums.moneysavingexpert.com/discussion/comment/34514391#Comment_34514391

I you click on her name on the left hand side and then select ' send private message' that should do you

Hope that helps. Good luck

HHx

Thank you, much appreciated.