DMP Mutual Support Thread - Part 7

jo-urney

boot13t - as far as im aware, it is ok to claim ppi back from loans and cc's if you are on a dmp - any money reclaimed will basically be put towards paying off your creditor balance (and if it clears it, u will get the extra) so cannot do harm really, i dont think.

sunnyface - when ive spoken to cccs before they have said that any money creditors can get back is better than no money so they will generally accept what you can give - the cccs will do a review with you approx 6 or 9 months into your plan anyway, and expect in the early part of taking out a dmp that there will be many changes and it will take time to settle down. my repayment has changed 3 times now in just over a year of being on my dmp. once you have got past the first hard bit of not paying anybody the full amount you owe them (i found this really difficult as had never missed a payment on anything before), it will get easier, especially knowing the cccs are passing on your money each month and the creditors are expecting the lower payments. i found that when the letters come asking for the money due to missed repayments, just ringing up and saying you are with the cccs puts your mind at rest - even if you tell the same company the same thing 3 times in a week lol. i was told over and over again by my banks/loan/cc companies that the letters were just standard ones that were automatically sent out so i could ignore them as i had a payment plan set up - but the letters dont put a good feeling inside and it always allayed my fears by simply ringing to remind them i was dealing with my debts responsibly!

pipps0316 - im not sure about payday lenders but generally the cccs will say that even if it is turned down, pay the amount offered through them anyway because it shows commitment to the plan and you cant afford to pay more anyway. the payday lender amounts owed arent huge and the fact you could pay off everything in approx 12 months without interest is great really (our debt free date on the plan is june 2029!), so you may find them more accepting than u think?? dont know if anyone else has any experience of these type of lenders.....

hope this has been of some help!

jo

Payplan_company_representative

boot13t wrote: »

Hello,

We're 2 years into a DMP with Payplan and all is well (some of the creditors are pains :mad:). I was thinking of re-claiming PPI on loans and credit cards we took out. Is this possible when you're on a DMP or should it be avoided?

Any advice would be appreciated on this issue.

Cheers

It is possible for you to do it and if you think you were missold then you should definately look into claiming it back. Usually instead of the creditor paying you the money they will just deduct that amount from anything that you owe them, meaning your DMP will finish a little sooner.

antk4

Hi, we're just about to have our first review with CCCS after 5 months on our DMP. Can you do it over the phone or do you have to send them information. Are you expected to increase your payment or is it ok to stay the same. We might be able to increase payment slightly but not by very much.

hlk_3

Hello, wonder if someone can help this is the first time I have posted on here!
I am in the process of starting up a DMP with CCCS. I currently bank with Bank of Scotland however as advised I opened a new bank account with Santander earlier this month, I sent off all the start up forms back to CCCS including details of my new account etc, and also changed most of my direct debits to the new account plus my salary. However I just got a letter back from CCCS today advising they have been unable to setup my plan as "they strongly advise you to open a bank/building society account with a company which you do not currently owe anything to"....I currently have a loan with Santander. I am unsure what to do now, as I was hoping it would all be setup so my payments to creditors would start on 1st August but I am guessing by the time I setup a new account with another financial inst. it wont be until Septmber now.

Another thing I worried about is, when I sent off the application to CCCS, I also as recommended sent off the template letters to my creditors. If my plan is not to be setup until September, for example Santander wont offset my salary paid in at the end of this month against my loan if they now know I am planning on setting up a DMP? I have missed the cut off to notify my payroll dept at work to change my account for this months pay now. Really scared! Can anyone help?

Many thanks! x

pipps0316

jo-urney wrote: »

pipps0316 - im not sure about payday lenders but generally the cccs will say that even if it is turned down, pay the amount offered through them anyway because it shows commitment to the plan and you cant afford to pay more anyway. the payday lender amounts owed arent huge and the fact you could pay off everything in approx 12 months without interest is great really (our debt free date on the plan is june 2029!), so you may find them more accepting than u think?? dont know if anyone else has any experience of these type of lenders.....

hope this has been of some help!

jo

Hey Jo
Thanks for that... 2029 must seem like a lifetime away! At least it's getting sorted.

I haven't started defaulting on 8 out of the 10 creditors as yet but I am sure I will get all the calls and letters in the coming months, in fairness 5 of the creditors will be paid off quicker this way then the monthly payments I was making, and the payday lenders are the big problem as they usually want their money on the next payday but I will keep everyone upto date with their tactics etc.

Has anyone added payday lenders to their DMP's and had success or painful problems???

Pipps :rotfl:

maganan

antk4 wrote: »

Hi, we're just about to have our first review with CCCS after 5 months on our DMP. Can you do it over the phone or do you have to send them information. Are you expected to increase your payment or is it ok to stay the same. We might be able to increase payment slightly but not by very much.

Hi I had my 6months review with CCCS about a month ago and they did it all over the phone, it took about 10 - 15 minutes. The lady actually wanted me to reduce the payment but by reducing my emergencies budget I was able to keep the repayment the same........for now anyway!

good luck

ianmak

hlk wrote: »

Hello, wonder if someone can help this is the first time I have posted on here!
I am in the process of starting up a DMP with CCCS. I currently bank with Bank of Scotland however as advised I opened a new bank account with Santander earlier this month, I sent off all the start up forms back to CCCS including details of my new account etc, and also changed most of my direct debits to the new account plus my salary. However I just got a letter back from CCCS today advising they have been unable to setup my plan as "they strongly advise you to open a bank/building society account with a company which you do not currently owe anything to"....I currently have a loan with Santander. I am unsure what to do now, as I was hoping it would all be setup so my payments to creditors would start on 1st August but I am guessing by the time I setup a new account with another financial inst. it wont be until Septmber now.

Another thing I worried about is, when I sent off the application to CCCS, I also as recommended sent off the template letters to my creditors. If my plan is not to be setup until September, for example Santander wont offset my salary paid in at the end of this month against my loan if they now know I am planning on setting up a DMP? I have missed the cut off to notify my payroll dept at work to change my account for this months pay now. Really scared! Can anyone help?

Many thanks! x

I know it's a bit late, but you need to setup a bank account with a bank to whom you owe no money, or linked to any creditors as such. You've already told payroll to pay into the Santander account? You maybe lucky but I'd imagine Santander will offset. Is there no way of explaining that your wage will be paid into the incorrect account? I assume you have an Overdraft or debts with BOS hence changing accounts?

Is there any sort of cooling off period where you can close the bank account within seven days of opening it? I'm clutching at straws here! Can you speak to CAB or CCCS for advice?

Anyhoo, whatever happens, please don't panic, and you can always set the ball rolling on setting up a Basic Bank Account perhaps, with a non linked creditor. Natwest and Co-Operative banks are normally good starts, but are Natwest linked with BOS? There's a link early on this page or the previous one detailing linked banks.

Hope this helps a little, and good luck!

MadamMim2013

Hi Guys,
Sorry been away for ages.. nearly a year actually!
My DMP is still running with CCCS & I've just had our 2nd review, we discussed bankruptcy.. I feel that dispite our low repayment amount (& the fact it'll take 97 years to repay the debt) this is just not an option we can take, not to mention we can't afford to do it!!
Anyhow, my question for the day is how can I stop natwest from continuing to take out money from my joint account to put into the loan account? We cancelled the direct debit a YEAR ago & they are still drawing off it.. it then bounces, but costs us in charges on both the joint acct and the loan one too?? If I write to them what do I say? I did think that if you cancel a D/D then they cannot still use it to take money? What to do, some of your very wonderful advice would be great! Thanks

Mclaren4022

Hi all - I have to say what a fab place this forum is - inspires me on a regular basis when I have hit that wall!
I have been on a DMP for nearly 2 years - have just had to reduce my payment as I have had to give up a second job - starting to affect my health (had some good advice on here). Been very emotional and a lot of soul searching. I decided to write to all my creditors and advise that CCCS would be contacting them with reduced payment offers and fully explained why. Most of them had stopped or reduced interest and have not hounded in any way so feel a but quilty....did not want them to think that I am not taking the debt seriously. HSBC have been complete £$%" but so be it...I do try and save and now again pay a little more....I am afraid of the consequence to come from reducing my payment as it has been so calm for a while. But it helps to see that others are in the same position...
Thank you to all on here for your help, positivity and humour!

jo-urney

Mrsgibbs1503 wrote: »

Hi Guys,
Sorry been away for ages.. nearly a year actually!
My DMP is still running with CCCS & I've just had our 2nd review, we discussed bankruptcy.. I feel that dispite our low repayment amount (& the fact it'll take 97 years to repay the debt) this is just not an option we can take, not to mention we can't afford to do it!!
Anyhow, my question for the day is how can I stop natwest from continuing to take out money from my joint account to put into the loan account? We cancelled the direct debit a YEAR ago & they are still drawing off it.. it then bounces, but costs us in charges on both the joint acct and the loan one too?? If I write to them what do I say? I did think that if you cancel a D/D then they cannot still use it to take money? What to do, some of your very wonderful advice would be great! Thanks

my suggestion would be to open a new joint bank account with a bank not linked to one of your creditors. do not put your money into your joint account with natwest any longer and there will be nothing in there for them to take. we had a joint account with lloydstsb and received a letter saying if my partners loan would not be paid directly by her, then any money owed would be creamed from our joint account (which had hardly any money in it lol). so we opened a new account and nothing goes out from lloyds.