DMP Mutual Support Thread - Part 7

Hopelessly_Hopeful

copperboom wrote: »

Hello everyone! I hope you're all having a nice, lazy Sunday

I have a question about F&F's as there's a small chance I may receive some money from a relative to the tune of just under half what I owe in total.

If I make a F&F offer to each of my creditors for 45% or whatever it might be, and they reject it, will they still expect to receive that money from me since they know that I have it? My relative doesn't really want to give me this money unless it's going to clear this debt rather than just contributing to it. And if some of them say yes and others say no, would I just be able to pay the amount those who said yes and then give the remaining "no" money back to my relative? Or would the best practice be to choose my two largest debts and offer them both 75% or whatever the amount came to on them and then just continue with a DMP for the remaining, smaller debts if they say yes.

I hope all that makes sense, and I hope you can help as my relative is reluctant to give me the money until they have all the facts (if at all, as they had wanted to give me this amount to save towards a deposit on a house )

Hi

From what I can gather you are meant to offer it to all creditors so they are all being treated fairly. How they police that is another matter!!!

Say your relative is considering giving it and has asked you to see if that willl be acceptable but you need to know by xxxx. If your relative decides not to go ahead you dont have the money to give them so no worse off than where you are now.

Good luck

HHx

ianmak

Growurown wrote: »

I have been accepted by First Direct for a new bank account and they are very kindly going to give me a £100 just for joining. If I don't like them and leave they will give me £200!!

Good news on the bank account, just remember to cancel or refuse that overdraft, if you haven't already done so!

copperboom_2

Hopelessly_Hopeful wrote: »

Hi

From what I can gather you are meant to offer it to all creditors so they are all being treated fairly. How they police that is another matter!!!

Say your relative is considering giving it and has asked you to see if that willl be acceptable but you need to know by xxxx. If your relative decides not to go ahead you dont have the money to give them so no worse off than where you are now.

Good luck

HHx

Thanks for the help! I guess my biggest question is if I go to them with an offer and some or all of them reject it, will I then have to pay up the lump sum I offered anyway as an overpayment, essentially, because they know I have access to the money? If anyone could advise on this, I'd be really grateful.

Allypops

copperboom wrote: »

Bit annoyed at Payplan this evening, I specifically told them to ring me after six but they rang me whilst I was work (which I ignored because I was working, of course) and left a message asking me to call back before 4pm! How am I meant to manage that if I've already asked them to call me after 6?

Anyway, they're not open until Monday now so I shall have to call on Monday evening and hope for the best. Sad that it makes this whole process a little bit longer.

Littlewoods - who have been bombarding me with calls all week - haven't rang once today. I'm worried!

Payplan have an uncanny knack of ringing me when I am on the bus!

Sounds like you are getting things sorted.

I had a horrible morning. Opened the post to find two default notices and one arrears notice. Feeling PANTS even if it is all part of the process.

Allypops

CommitedToChange

evening everyone

Well another company has accepted my tiny DMP offer - so that's good news, I'm sure they'll all be much happier when it doubles in a couple of months. Its been passed to their dca who say just carry on making payments as normal. I actually wish they'd sent me a default as well so I can have them all at the beginning - then they can all sod off together

I hope everyone is well on this rainy monday.

sunnygirls

Hi all hope everyone is well .ive recieved another acceptance today of my Dmp :j from hfc, my account will not accrue interest and admin charges for 12 months and then they will review it . I really feel positive as though i'm making some progress after robbing peter to pay paul for last couple of years only to pay interest off , now some will start coming off my actual balance.

Toffee_Penny

Evening all

I wouldn't worry too much about getting a default notice guys, it's all part of the process. Bloody hell I remember we had that many default notices and 'what to do if you're in arrears' notices come through the letterbox I could have papered my hall, stairs and landing with them :rotfl::rotfl::rotfl:

As for F&F offers, I'm not sure what the creditors answer would be when starting out on a DMP although at a guess I am sure you might be more successful a bit down the line when the debt has been passed to a DCA (cause they bought the debt for a daft % of the total and want the account closed) or there is no evidence of a CCA, no payments have been made and it's not worth going for a ccj so they want rid of you as quick as.

I have never bothered with the whole F&F offer thing. I'm still hoping for a small win on the lottery to sort out our debt.

salduck

How long should i wait to hear from Companies regarding freezing interest? i sent off my letters and CCCS have sent through my DD details to be taken in June however i havent heard anything from anyone apart from a few letters saying "you aint paid!!".. Also when should i expect my log in details from CCCS for the online management?
Sorry hundreds of banal questions!
x

copperboom_2

Toffee_Penny wrote: »

Evening all

I wouldn't worry too much about getting a default notice guys, it's all part of the process. Bloody hell I remember we had that many default notices and 'what to do if you're in arrears' notices come through the letterbox I could have papered my hall, stairs and landing with them :rotfl::rotfl::rotfl:

As for F&F offers, I'm not sure what the creditors answer would be when starting out on a DMP although at a guess I am sure you might be more successful a bit down the line when the debt has been passed to a DCA (cause they bought the debt for a daft % of the total and want the account closed) or there is no evidence of a CCA, no payments have been made and it's not worth going for a ccj so they want rid of you as quick as.

I have never bothered with the whole F&F offer thing. I'm still hoping for a small win on the lottery to sort out our debt.

That's really useful - thanks! I'll tell grandma to hold off until a year or so down the line when I'm with some DCA's

sunnygirls

salduck wrote: »

How long should i wait to hear from Companies regarding freezing interest? i sent off my letters and CCCS have sent through my DD details to be taken in June however i havent heard anything from anyone apart from a few letters saying "you aint paid!!".. Also when should i expect my log in details from CCCS for the online management?
Sorry hundreds of banal questions!
x

Hi its took about a week to start getting replies back , i havnt heard from them all but the few ive had have been positive and i havn't had my log in detail either i thought i'd leave it a few days and then ring them .