DMP Mutual Support Thread - Part 7

secretshopper75

Hi, just thought I'd update, I do read most days but mostly at work..been on DMP for nearly a year now and just had annual review, dropped payments by about £140 per month due to increasing cost of living and no pay rise..letters should go to creditors early September so will see what happens after that.

Good luck to all of you, your and inspiration and this site is a god-send.

Twit_Head

B17c wrote: »

Hi there, I have a DMP with CCCS and its seems to be going ok, i have recently moved and my flatmate is concerned that my debt will affect the credit rating for the flat (which she owns), if im registered at this address with the cccs will it affect the propertys credit rating? My mail is being redirected for everything else, including my bank statements etc and obv am not applying for credit. is there anything i can do so her/the property isnt affected?
many thanks!

Hi
I think that as you haven't got a shared interest in the property (eg. a joint mortgage) you should be OK, and it will just be your credit rating that's been trashed
But why not give CCCS a quick ring to clarify? That way you will be 100% certain and can set your mind at rest.
Glad your DMP is progressing well.

'Twitty'

copperboom_2

Hi everyone.

Still having some trouble with my RBS overdraft and help/advice would be very much appreciated. They're still piling on the interest and charges, and yesterday sent me a letter saying that that still hadn't heard from CCCS and if they didn't hear from me or them in 14 days, they'd default me and start "legal action".

I rang them this evening and was told they'd never had a letter of authority from me, so couldn't deal with CCCS yet and that they didn't receive any information from CCCS, despite CCCS saying that they've sent it and at least 2 of my other creditors having received it. I'm going to ring CCCS tomorrow and try to get this sorted but I almost wouldn't mind if they defaulted me and passed me on to a debt collection agency because I get the feeling a DCA might be a bit easier to make a deal with. I wanted to know if they RBS can continue adding interest and charges after they've defaulted me?

Also, I've had replies from one of my creditors stating they've received my offer via CCCS and another one has confirmed it to me over the phone (and then there's RBS as well) but from the other 4, I haven't heard a peep. I've had statements from the 2 credit card companies that defaulted me earlier this year, both with the CCCS amount paid in and no interest or charges added on so I'm assuming they've accepted but I've got no formal acknowledgement, and Barclays (overdraft) and Capital One haven't been in contact at all... I'm assuming no news is good news and am inclined not to get in touch just in case it starts the relentless phonecalls and letters up again but I wanted to know if anyone with a bit more experience could offer some words of wisdom.

Thanks.

moments_of_sanity

ianmak wrote: »

Hiya, the first letter from section 5 should help in this situation:
http://www.nationaldebtline.co.uk/england_wales/debt_advice.php#6

Depends on your debt (I'm estimating 25k), that amount isn't unreasonable (I first started out paying £160 on 38k of debt!).

Thank you so much for your information :j

I called the CCCS today and they were fantastic, we have been through everything and what needs to be paid etc and have settled on a monthly figure of £257 which is great and so much less than we are paying now!

We are going to go ahead and sort it out with them, because we have overdrafts with Nationwide they said they needed to be taken into account as well so we have opened a Co-op no frills bak account and all went well with that too so things are definately looking up and we both feel so much better - although getting over our credit rating being completely ruined (although not sure it wasn't before, could just convince myself that it was fine!).

I will be paying the credit cards a token payment this month, do you think £10 for each one is too little? I have written out the letters to the CC's tonight and will post them off on Saturday morning along with the letter to the CCCS.

Really feels like this is the right thing to do and am sooooo very impressed with the CCCS, they were non judgemental and helped us set our monthly budget by going through absolutely everything. The only thing they did say was that the CC's could decide to take us to court if they don't feel the payments are high enough, they did say this is very very rare but needed to make us aware of it. Did all your creditors take the revised payments without too many problems?

sunnyface

MRS_A wrote: »

I can do a VT once I've paid off half which will be December. Ideally I need to pay it by the end of November because the tax is due then, don't know if I will be able to though.

You can reclaim the months left on your tax disc anyway - just remember to remove it before handing the car back

ianmak

moments_of_sanity wrote: »

I will be paying the credit cards a token payment this month, do you think £10 for each one is too little? I have written out the letters to the CC's tonight and will post them off on Saturday morning along with the letter to the CCCS.

Really feels like this is the right thing to do and am sooooo very impressed with the CCCS, they were non judgemental and helped us set our monthly budget by going through absolutely everything. The only thing they did say was that the CC's could decide to take us to court if they don't feel the payments are high enough, they did say this is very very rare but needed to make us aware of it. Did all your creditors take the revised payments without too many problems?

In theory £1 per creditor as a token payment is enough (anyone else know if this is still the case?)

My creditors have been fine, but there is always that risk, it is a gentleman's agreement after all.

ianmak

copperboom wrote: »

Hi everyone.

Still having some trouble with my RBS overdraft and help/advice would be very much appreciated. They're still piling on the interest and charges, and yesterday sent me a letter saying that that still hadn't heard from CCCS and if they didn't hear from me or them in 14 days, they'd default me and start "legal action".

I rang them this evening and was told they'd never had a letter of authority from me, so couldn't deal with CCCS yet and that they didn't receive any information from CCCS, despite CCCS saying that they've sent it and at least 2 of my other creditors having received it. I'm going to ring CCCS tomorrow and try to get this sorted but I almost wouldn't mind if they defaulted me and passed me on to a debt collection agency because I get the feeling a DCA might be a bit easier to make a deal with. I wanted to know if they RBS can continue adding interest and charges after they've defaulted me?

Also, I've had replies from one of my creditors stating they've received my offer via CCCS and another one has confirmed it to me over the phone (and then there's RBS as well) but from the other 4, I haven't heard a peep. I've had statements from the 2 credit card companies that defaulted me earlier this year, both with the CCCS amount paid in and no interest or charges added on so I'm assuming they've accepted but I've got no formal acknowledgement, and Barclays (overdraft) and Capital One haven't been in contact at all... I'm assuming no news is good news and am inclined not to get in touch just in case it starts the relentless phonecalls and letters up again but I wanted to know if anyone with a bit more experience could offer some words of wisdom.

Thanks.

It's quite normal for creditors to not receive communications. I've asked PayPlan to send the data off to the same creditor by fax, around about four or five times before the Creditor got the message!

Hopelessly_Hopeful

moments_of_sanity wrote: »

Thank you so much for your information :j

I called the CCCS today and they were fantastic, we have been through everything and what needs to be paid etc and have settled on a monthly figure of £257 which is great and so much less than we are paying now!

We are going to go ahead and sort it out with them, because we have overdrafts with Nationwide they said they needed to be taken into account as well so we have opened a Co-op no frills bak account and all went well with that too so things are definately looking up and we both feel so much better - although getting over our credit rating being completely ruined (although not sure it wasn't before, could just convince myself that it was fine!).

I will be paying the credit cards a token payment this month, do you think £10 for each one is too little? I have written out the letters to the CC's tonight and will post them off on Saturday morning along with the letter to the CCCS.

Really feels like this is the right thing to do and am sooooo very impressed with the CCCS, they were non judgemental and helped us set our monthly budget by going through absolutely everything. The only thing they did say was that the CC's could decide to take us to court if they don't feel the payments are high enough, they did say this is very very rare but needed to make us aware of it. Did all your creditors take the revised payments without too many problems?

Hi

I paid £10 each but you are no better thought of than if you'd paid £1. My advice is pay a £1 and put the difference in the emergency fund.

Good luck

HHx

moments_of_sanity

Hopelessly_Hopeful wrote: »

Hi

I paid £10 each but you are no better thought of than if you'd paid £1. My advice is pay a £1 and put the difference in the emergency fund.

Good luck

HHx

Thank you very much for that advice. As my DMP won't be set up until the 1 October and I have an MBNA payment due on the 20 August, do I have to make another 'token' payment then?

If we can ever manage to save a little bit (although with the boiler breaking down, heating pump gone and a leak from a pipe it's not looking lkely), can we make F & F's or can we only do that once the debt is sold? If it has to be sold first, does anyone have any idea when the original lender normally does this?

Hopelessly_Hopeful

moments_of_sanity wrote: »

Thank you very much for that advice. As my DMP won't be set up until the 1 October and I have an MBNA payment due on the 20 August, do I have to make another 'token' payment then?

If we can ever manage to save a little bit (although with the boiler breaking down, heating pump gone and a leak from a pipe it's not looking lkely), can we make F & F's or can we only do that once the debt is sold? If it has to be sold first, does anyone have any idea when the original lender normally does this?

Morning

Make a token payment each time a payment is due until you have your DMP set up. It can be a rocky start but you will get there. You could try for F&F at any time, it will not look good at this stage though, hang in there. There are no rules for when and if they pass on, some say to stop people playing the system.

Hope you have a smooth set up.

HHx