DMP Mutual Support Thread - Part 7

PoshPants

Hey Growurown - Well done on getting things back on track!

I can only reiterate your comments to anyone contemplating it. Having made my first payment, everything just seems to be making more sense and no longer a I constantly looking over my shoulder.

I've only had one default notice so far from Capital One but they have agreed the DMP payment terms. Only one (Halifax) out of my 11 creditors have declined but I'll keep working on them.

Good luck with it anyway!

mogsi80

Hey Guys

Hope you're all good and enjoying a hassle free weekend!

Just an update really, not heard a peep from anyone since sending the letters out last week - had a missed call from a blocked number which I ignored.. Halifax have frozen the joint account - we have a new one account with Nationwide - only pain is we for some reason completely overlooked getting the DDs transferred over - so things were a little hairy on Friday but luckily all the major ones were all paid before hand, think we may lose our child benefit this month - as it could take up to 30 days to action the change in bank accounts Can't see Halifax giving it back to us!

Is it normal not to hear a peep out of any of the creditors? I was kinda expecting the phone to be ringing off the hook - don't get me wrong I am happy that I don't have the added stress of having loads of calls.

xxx

rubyjam

:)Hi mogsi80 - I think I'm a couple of days behind you with my DMP but slowly getting there. I sent my last 2 letters off on Friday, still waiting for a couple of statements and a bank account but have sent what we've got so far to CCCS so that they can set the ball rolling.

I posted most of my letters to creditors last week and since then have been receiving several calls a day from one number but I don't know who it is -they don't say. At first they asked to speak to my OH and when I told them he wasn't in or asked who was calling they would put the phone down. In the latest calls they don't even speak - when they hear my voice they just put the phone down. Under normal circumstances I'd call the police/BT and report nuisance phone calls but with all this going on I think it's probably one of the credit card companies. Even so, I do think it's out of order and rude to put the phone down like that.

I have just opened 2 accounts with Nationwide (one for wages/dd's and the other for everyday spending) I did it online and thinking it would be easier/quicker I clicked on the box asking for them to transfer our DD's over to one of the accounts. But, nothing is ever straigtforward - they've lost one of the t&c's I signed and typically it's the t&c's for the DD account. It's so annoying as I took the docs in person to my local branch thinking it would speed things up. Meanwhile ... opening of the account is now delayed and I've got DD's due out next week and I'm not sure if our current bank (Halifax like you) will pay them or even co-operate with Nationwide now that I've told them I'm not paying their (my) credit card.


Oh well, I guess what will be will be. Good luck with your DMP

PayingMyDebts

Hi folks,

I have a letter from one of my creditors dating back over a year stating that they wouldn't charge me interest or late payment fees and they didn't for a while, they then started doing both and I've phoned them a few times but I just keep getting passed from one person to another - what do people think would be the best course of action?

Mrs_Arcanum

PayingMyDebts wrote: »

Hi folks,

I have a letter from one of my creditors dating back over a year stating that they wouldn't charge me interest or late payment fees and they didn't for a while, they then started doing both and I've phoned them a few times but I just keep getting passed from one person to another - what do people think would be the best course of action?

Would write to them with a copy of the letter if possible & send recorded delivery giving 2 weeks for a response. Also worth looking at some of the template letters National Debtline have. There is a rule lenders should adhere to in not making someone's debt worse Lending Code section 9 (extract from a letter I sent with the relevant wording.

I would refer you to The Lending Code, Section 9. Which advises you should NOT make financial hardship worse. With the punitive interest you are charging me this is clearly not the case.

HTH.

freedomfromdebt_2

Hi,
Would really appreciate some advice. I am currently almost 2 years into DMP with Payplan. Largest creditor is Halifax -originally owed over £15k and currently Halifax have balance as £13400. They are only creditor not to freeze interest but did reduce. Our payment to them each month is £275 and approx £136 of that goes in interest charges
This month statement showed interest charged was £250 and so only £25 came off outstanding balance.
I rang Halifax and they advised me that because I am now paying more than monthly minimum payment which they calculate to be £255 I no longer qualify for any reduction in interest and so full interest will now be charged each month @ 23.9%. They were adamant nothing they could do and advised I contact Payplan and if I am struggling with payments (which I am) then if payment to them is reduced below £255 they can consider reducing interest. I have emailed Payplan and awaiting response but this sounds completely bonkers to me. At this rate got no chance of ever getting out of debt. Payplan have estimated DFD as June 2014!!!
If anyone has any advice on legality of interest rates charged by Halifax would be very much appreciated. I thought they were meant to help people in debt!! I have raised issue of interest charges with Payplan a number of times but find the advice conflicting.
Many thanks. Support on here is amazing

Twit_Head

mogsi80 wrote: »

Hey Guys

Hope you're all good and enjoying a hassle free weekend!

Just an update really, not heard a peep from anyone since sending the letters out last week - had a missed call from a blocked number which I ignored.. Halifax have frozen the joint account - we have a new one account with Nationwide - only pain is we for some reason completely overlooked getting the DDs transferred over - so things were a little hairy on Friday but luckily all the major ones were all paid before hand, think we may lose our child benefit this month - as it could take up to 30 days to action the change in bank accounts Can't see Halifax giving it back to us!

Is it normal not to hear a peep out of any of the creditors? I was kinda expecting the phone to be ringing off the hook - don't get me wrong I am happy that I don't have the added stress of having loads of calls.

xxx

Hi
Try reading back of a couple of pages to here: https://forums.moneysavingexpert.com/discussion/2522779 and see my reply to 'CreditCrazy' about hearing/not hearing from creditors. Also have a peep at Toffee Pennys post on the same page about a DMP.
You're heading in the right direction!

'Twitty'

Mrs_Arcanum

@ freedomfromdebt

A link to The Lending Code PDF http://www.lendingstandardsboard.org.uk/docs/lendingcode.pdf Check section 9 (starts on the 27th page). Also note items 224 & 225 which would indicate that the Halifax were being overly harsh with interest rates right from the start.

freedomfromdebt_2

Thanks for that info. Have had a read of sections you highlighted and will be using it in my next correspondence with Halifax and Payplan. May even try Financial omnubsman (not right spelling!). I have always been unhappy with amount of interest charged but Payplan keep telling me that Halifax can charge it.
Many Thanks

mogsi80

Thanks Twitty - will have a read... Have had a couple of calls from numbers I don't recognise, but alas no messages! Not that I would want to speak to them, but would like at least some acknowledgement!!

Hi Rubyjam - God they sound awful, there is no need to be rude about it all! What a pain regarding the bank accounts - we have opened an account with Nationwide too - but for everything wages, DD's and Bills - we are just going to deal in cash and nothing else - take X amount out for food shopping and that's it - got to be disciplined (eeekkk).. Halifax paid some but we're not really sure about the others - luckily have spoken to the car insurance (which was due out today) and they were really helpful and will just request the dd again from the new account if it's returned unpaid (at least there are some helpful people out there!)..

We were just kicking ourselves for totally overlooking it all - thankfully the important bills had all come out - mortgage & council tax - hope there isnt too many bills that will get caught up for you Ruby - last thing you need on top of sorting everything out, believe me certainly added to the stresses on Friday. Hopefully they will still give all the necessary info over to Nationwide..

Fingers crossed for you, and hope it all goes okay for you too - let me know how you're getting on xx