DMP Mutual Support Thread - Part 7

2spicy

debtfreewannabe321 wrote: »

Only one that hasn't completely stopped interest is barclaycard they reduced to 6% for dh from 39+% so still good....but i may get him to make a call and see if we can get it to 0%!

So glad I called now I feel much better knowing my money is going to debts rather than charges & interest every month!

DFW x

We have the same ... BarclayCard reduced our interest to 6% too .. that means they still take £5 a month off us in interest (which for us is a pain as we pay them £40 a month, but only see £35 off our debt.. Still, we owe them about £2000 so Well try and clear that this year (fruit picking / helping out on the weekends at friends farms))

Mrs_Trouble

Re Barclaycard I have had a similar experience, I am going to wait for my 3rd payment and then write to them to see if they will reduce the interest.

I have heard or spoken to everyone apart from Santander. I have missed one payment but I am in fact paying £30 more to them than I was before. They haven't acknowledged the information from CCCS and they haven't charged me for missing a payment - I was going to write to them enclosing the budget and credit information and ask them to confirm if they are accepting the arrangement - does that sound a reasonable idea?

I am nearing my 2nd month completely free of credit cards and any other finance apart from what we earn. Has been a hairy few days waiting to be paid but I think we should just about do it!:j

DevonGirl

Re: Barclaycard.. :mad::mad:

Interested to hear everyone's experiences. Just updating on my previous post. I am over 2 years into my DMP with CCCS. Barclaycard have accepted my DMP reduced payment or 'Agreed monthly payment' as they call it on my statements, but have never frozen the interest, which is 6.9%. I called a few days ago to ask if they would freeze the interest. Didn't just speak to first person, asked for manager, but they refused point blank.

I have now had a letter from BC to advise that they have reviewed the original repayment plan agreement and have decided to INCREASE my monthly interest rate to 1%, which they point out is still a reduced rate in comparison with the BC standard rate.

Has anyone else had a similar problem? It feels like they are doing this just to spite me for asking for a freeze!!

(Just to add that due to the interest only 2/3 of my payment goes to paying off my debt).

sickasachip13

Devongirl - so sorry to hear of your continued Barclays problems, don't know what to suggest really. It does seem to be so dependent on who you get on the end of the blower.

sickasachip13

Well, I've been doing my monthly updating and checking of our debts / files / online CCCS thing. I gave Blair Oliver Scott the usual phone call to get an updated balance (as they don't send regular statements I ring to make sure they haven't been sneakily charging me % etc) and they offered me a settlement on one debt and suggested I might like to make an offer on another.

The first is a smallish (for us) debt - we owe £660 and they said they would settle for £480.

The other, is out of the question as no-one could loan us enough, its on a debt of £4850 and they asked if I'd thought about settling, I genuinely haven't as we just could never borrow even near that much - I said this to the man and he said well, if you ever want to come back to us with an offer 'even if it seems completely unreasonable, I can confirm we're in a position where we'd be able to negotiate...'. I'm guessing he's not going to accept £50 though...I so wish I had a few grand to wave at the problem!

Anyhow, on the first offer, the small one, I've asked him to put their offer in writing. I'm pondering though, as they're an in-house DCA for Halifax, is it worth trying to negotiate or will they just stick to their guns? I don't know that I can borrow quite that much anyway tbh - but if it was £400 or less we might be able to do it.

ianmak

sickasachip13 wrote: »

Well, I've been doing my monthly updating and checking of our debts / files / online CCCS thing. I gave Blair Oliver Scott the usual phone call to get an updated balance (as they don't send regular statements I ring to make sure they haven't been sneakily charging me % etc) and they offered me a settlement on one debt and suggested I might like to make an offer on another.

The first is a smallish (for us) debt - we owe £660 and they said they would settle for £480.

The other, is out of the question as no-one could loan us enough, its on a debt of £4850 and they asked if I'd thought about settling, I genuinely haven't as we just could never borrow even near that much - I said this to the man and he said well, if you ever want to come back to us with an offer 'even if it seems completely unreasonable, I can confirm we're in a position where we'd be able to negotiate...'. I'm guessing he's not going to accept £50 though...I so wish I had a few grand to wave at the problem!

Anyhow, on the first offer, the small one, I've asked him to put their offer in writing. I'm pondering though, as they're an in-house DCA for Halifax, is it worth trying to negotiate or will they just stick to their guns? I don't know that I can borrow quite that much anyway tbh - but if it was £400 or less we might be able to do it.

The problem with F&Fs is that you need to be consistent and offer all creditors the same. That's why PP & CCCS don't really like you doing them. I paid off one debt of £140 and £70 cleared the debt, and PP were moaning about doing that as it showed preference to one creditor.

That's not to say you can't do them, just beware of any potential consequences.

sickasachip13

ianmak wrote: »

The problem with F&Fs is that you need to be consistent and offer all creditors the same. That's why PP & CCCS don't really like you doing them. I paid off one debt of £140 and £70 cleared the debt, and PP were moaning about doing that as it showed preference to one creditor.

That's not to say you can't do them, just beware of any potential consequences.

Yes, this is one of the things that worries me and why I didn't get into further discussions on the phone.

If I managed to borrow £400 could I deal with this issue by offering it to all the creditors? To be honest, aside from one really small debt which is nearly sorted, if any of the other creditors took £400 for what we owe I'd be very happy.

ianmak

You'd have to offer it to all creditors, so £400 multiplied however many you have!

happytimesahead

Hi all, just hoping to get some advice.
After to-ing and fro-ing for afew months decided that I want to get into a DMP, (most likely with CCCS). However my only worry is the debt that has pushed me over the edge is payday loans.
Do DMPs generally work with payday loan companys at all? Or should I try to pay these off (giving token payments to other creditiors in the meantime) before starting the DMP.
Thanks for advice!:)

ianmak

happytimesahead wrote: »

Hi all, just hoping to get some advice.
After to-ing and fro-ing for afew months decided that I want to get into a DMP, (most likely with CCCS). However my only worry is the debt that has pushed me over the edge is payday loans.
Do DMPs generally work with payday loan companys at all? Or should I try to pay these off (giving token payments to other creditiors in the meantime) before starting the DMP.
Thanks for advice!:)

I'm not sure, I think CCCS et al will deal with them, it's whether or not the Payday companies will deal with them!

Personally I had a small one of about £100, which I chose to pay off before starting the DMP.