DMP Mutual Support Thread - Part 7

DizzyDizzy

Good luck!

Thinking about that possibility myself. What do you do if your first offer is refused? Can you go straight back at them with a slightly higher offer? Or would that just annoy them?

samlovescomps

DevonGirl wrote: »

Hi Sam

Firstly, yes, keep a note of all calls with creditors - I have all DMP debts filed in a lever arch folder, and at the start of each creditor section have a piece of A4 on which I noted all calls (haven't received calls for well over a year now that my DMP has been accepted and is running fairly smoothly). Sorry - I sound quite anal - just helps me a lot to be organised, that's all!

Further down the line you may prefer to ask for all correspondence to be made my letter only, which is within your rights. (There is a template letter for this somewhere on this site). At the start I was more than happy to speak to creditors but after 3 months of constantly repeating my details and DMP story to call centre people, who never seemed to make a note of our conversation and so I'd have to start from the beginning again, I decided not to be so 'nice' about it! So changed my landline number and asked for letters only which worked a treat. .

Regretably at the start of a DMP you may get a fair amount of calls from creditors. In some ways it is natural - they want their money after all - but some creditors really did overstep the mark (i.e. HSBC calling 6 times a day - and I've heard worse stories on this site).

I think there's a sense of 'shaking the tree to see what falls out' so to speak. If they ring 100 customers who haven't paid the minimum amount that month demanding money, chances are at least some of them will come up with the cash there and then. However, we are a smarter bunch than that on this site . No matter how insistent they are or how stroppy they get, just give them your CCCS client number and ask them to speak to CCCS. You are doing all the right things - a payment gesture in the run up to your monthly DMP payment - so please don't worry. Easier said than done I know but keep your chin up!

Regarding how you got into debt, it's kind of irrelevant really, unless you went out and brought a fleet of sports cars. The standard reply if you feel you need to explain is that you became overcomitted on credit i.e. ended up not being able to meet minimum payments and have enough spare to be able to support yourself.

Oh and keep posting on here if you need support.
DG

Thanks Devon Girl. This really helped calm me a little. i will keep a log of calls. Had letter today from ISME (another shop direct group account) It said "Notice of Default sums under the Consumer Credit Act 1974" I have only missed one payment to them I did not think they issued defaults that quick, no call or anything????Is this because they have recieved the CCCS stuff? xxxx

samlovescomps

DizzyDizzy wrote: »

Hi Sam,

Don't worry, I think you have done the right thing. The first couple of months on a DMP is always a bit rough as some creditors take a while to get the DMp letter into their system and acknowledge it. The best thing to do is to carry on as you are - just explain you have started a DMP and give them the name of the company and the plan number.

We still get the occasional call even now, over a year later. I don't even bother getting into a converation, I just tell them I can't make any payments direct as that would invalidate the DMP and just given them the plan number.

Once you have paid a few months into your plan it should all settle down.

Thanks Dizzy this helped me to calm down a little. xxx

DizzyDizzy

Hi Sam, Regarding your default letter, (I will learn how to quote text one day!) you will probabably get all your default letters pretty quick as our creditors sent them out within a couple of months of starting a DMP. They look scary, but it is actually a good thing if they come at the start and all at once. The reason I think this is because they stay on your credit file for 6 years , so the sooner they arrive the sooner they will fall off again in 6 years time !! I don;t know how long your DMP is, but if it's less than 6 years this means that your DMP and your defaults will be over and done with at the end of 6 years and you can start to move on again, and building your credit rating again if you wish.

Hope this helps.

copperboom_2

Hi all.

My DMP has been going quite well since it started at the beginning of July. I've had 2 creditors stop interest (including Vanquis, which I was pleased about!) and 1 reduce it substantially. I'm still waiting to hear back from 3 others, but I'm having real trouble with the seventh - RBS. I have an overdraft with them and it's my biggest debt.

I'm paying in about £40 a month and they're taking out about £200 in interest and charges, which is more than I actually pay into my DMP altogether so my overall debt is actually increasing every month as opposed to reducing - it's gone from an initial £11500ish to about £12500 so far which is disheartening as I started this process to reduce my debts. When I speak to them on the phone they say that they don't have to freeze interest and charges (true) and that they haven't had anything from CCCS to say I'm on a plan. They still put me down as "DMP Confirmed" in their system when I quoted my reference number to them though, and all my other creditors have received CCCS's letters so why not them? CCCS says they've sent it.

Last time I spoke to them as well, they said that if I didn't pay the arrears on the account they wouldn't be able to accept my payment of £40 that month, which I knew was bull and I told them as much. I wish they'd default me or send it to a DCA so the charges would stop. I'm wondering if there are any regulations I can quote to them via letter or over the phone stating that the charges aren't reasonable to make them stop and perhaps even refund me the £400 odd they've charged me since the DMP officially began.

Please help, this is really getting me down. The worst part is they're hardly ringing me or sending letters so I'm just seeing the amount go up and up every time I log into online banking, it's so depressing. I feel like if I just stopped paying them it wouldn't make any difference.

zoey86

samlovescomps wrote: »

Thanks Devon Girl. This really helped calm me a little. i will keep a log of calls. Had letter today from ISME (another shop direct group account) It said "Notice of Default sums under the Consumer Credit Act 1974" I have only missed one payment to them I did not think they issued defaults that quick, no call or anything????Is this because they have recieved the CCCS stuff? xxxx

Hi Sam,

'Default Sums' are charges for late payments or going over your credit limit and are NOT the same as 'Default Notices', I got confused here too.
When you receive a 'Default Notice' it sticks to your account for 6 years making credit harder to obtain. My creditors only sent me a letter with the default notices I received, I doubt you will get a phone call. Some creditors issued me a default notice as soon as my DMP started, and one of those creditors I had made all payments up to date so I think it all depends on how they usually operate with DMPs.

Hope that helps and try not to worry too much!

Zoey

ianmak

copperboom wrote: »

Hi all.

My DMP has been going quite well since it started at the beginning of July. I've had 2 creditors stop interest (including Vanquis, which I was pleased about!) and 1 reduce it substantially. I'm still waiting to hear back from 3 others, but I'm having real trouble with the seventh - RBS. I have an overdraft with them and it's my biggest debt.

I'm paying in about £40 a month and they're taking out about £200 in interest and charges, which is more than I actually pay into my DMP altogether so my overall debt is actually increasing every month as opposed to reducing - it's gone from an initial £11500ish to about £12500 so far which is disheartening as I started this process to reduce my debts. When I speak to them on the phone they say that they don't have to freeze interest and charges (true) and that they haven't had anything from CCCS to say I'm on a plan. They still put me down as "DMP Confirmed" in their system when I quoted my reference number to them though, and all my other creditors have received CCCS's letters so why not them? CCCS says they've sent it.

Last time I spoke to them as well, they said that if I didn't pay the arrears on the account they wouldn't be able to accept my payment of £40 that month, which I knew was bull and I told them as much. I wish they'd default me or send it to a DCA so the charges would stop. I'm wondering if there are any regulations I can quote to them via letter or over the phone stating that the charges aren't reasonable to make them stop and perhaps even refund me the £400 odd they've charged me since the DMP officially began.

Please help, this is really getting me down. The worst part is they're hardly ringing me or sending letters so I'm just seeing the amount go up and up every time I log into online banking, it's so depressing. I feel like if I just stopped paying them it wouldn't make any difference.

It is normal for creditors to apply charges to your account at the start. All I can suggest is to ask CCCS to keep sending the letters to RBS until they get the message, and keep ringing/sending letters to RBS asking them to reconsider.

Twit_Head

DizzyDizzy wrote: »

Good luck!

Thinking about that possibility myself. What do you do if your first offer is refused? Can you go straight back at them with a slightly higher offer? Or would that just annoy them?

I'll let you know!
Going in lower, will await replies and take it from there. Only got 3 creditors so hoping I get some acceptance to use as a lever, if necessary. (Creditors are unhappy if you make F + F's offers to one and not others-don't know if that's what you had in mind.)
If I have refusals will just write again, expanding my case.
Don't know how long you've been on your DMP, but I understand your offers can be viewed more favourably if a DMP has run smoothly for a while. (They've already had some pay-back from you.)
On the other hand, if you're repaying them the money slowly but surely ..........
Ho-hum - I'll await events.

'Twitty'

Twit_Head

DizzyDizzy wrote: »

(I will learn how to quote text one day!)

Log in, find the message you want to reply to and click on the big blue 'quote' button at the bottom.
The original message will appear above, and you just have to type your reply in underneath.
If you don't want the whole of the original text to appear (might have been a very long message) you can delete parts but make sure you leave the 1st 'quote text' in square brackets, and the end 'quote text' also in square brackets. (as I've done above to your reply)
Simples!

'Twitty'

Twit_Head

Received a shiny new CCCS e-mail newsletter today.

Thought this page was brilliant :T http://moneyaware.co.uk/debttoolkit/?WT.mc_id=august2011_7&dm_i=VD3,I100,4FULEV,1GREU,1

Full of useful info. such as basic bank accounts, financial ombudsman etc.etc. Sure we can all find something of interest in the links.

Hope it may be of help.

'Twitty'