DMP Mutual Support Thread - Part 7

SomewhereOverTheRainbow

Thats what I did Pumpkin and was duly declined..........but you may be lucky.............I then called them and applied for cashminder over the phone on Saturday

pumpkinsoup

Oh crap how long did it take for them to decline u rainbow? We haven't defaulted on anything yet? Will they decline it once they know we are entering a dmp?

Bugjam

Hi,

Received a letter from MBNA today, saying that my Credit Agreement has been terminated.
Goes on to say that they will take recovery action (I have been paying them via a DMP with the CCCS). by either:

Selling the Debt on to a collection agency
Placement of Debt - debt placed with an agent to collect the full debt on their behalf
Litigation - obtaining a CCJ to recover money through an Attachment of Earnings.

Anyone had any experience of this, and what can I expect to happen next? Also should I inform the CCCS or wait until MBNA decide what to do next?

Thanks

ianmak

You have to request a cashminder in person (or over the phone), because it's a 'basic' account, it's not one that is really publicised.

ianmak

Bugjam wrote: »

Hi,

Received a letter from MBNA today, saying that my Credit Agreement has been terminated.
Goes on to say that they will take recovery action (I have been paying them via a DMP with the CCCS). by either:

Selling the Debt on to a collection agency
Placement of Debt - debt placed with an agent to collect the full debt on their behalf
Litigation - obtaining a CCJ to recover money through an Attachment of Earnings.

Anyone had any experience of this, and what can I expect to happen next? Also should I inform the CCCS or wait until MBNA decide what to do next?

Thanks

Fairly standard process. Ring CCCS if you're worried, but I'd imagine you'll now receive a default notice and your debt maybe sold onto a collection agency (and normally will carry on paying as normal).

However, give CCCS a ring and they will put your mind at rest, just be prepared for any situation!

ianmak

pumpkinsoup wrote: »

Oh crap how long did it take for them to decline u rainbow? We haven't defaulted on anything yet? Will they decline it once they know we are entering a dmp?

You will be declined because they run a credit check and your rating is already a little 'squiffy'.

FredFlinstone

well they say you learn something new everyday .............. found out today from a phone call from cccs ( which was about something completely different to what im about to say) that lloyds and bank of scotland are part fo the same group. now i know i have read on here numerous times that lloyds are particualry difficult at accepting dmp's we owe them 3300 in total but there is 2500 on the bank of scotland loan ( these are our two biggest debts) will bank of scotland be particualry difficult aswell they are the ones i am worried about?

Twit_Head

FredFlinstone wrote: »

well they say you learn something new everyday .............. found out today from a phone call from cccs ( which was about something completely different to what im about to say) that lloyds and bank of scotland are part fo the same group. now i know i have read on here numerous times that lloyds are particualry difficult at accepting dmp's we owe them 3300 in total but there is 2500 on the bank of scotland loan ( these are our two biggest debts) will bank of scotland be particualry difficult aswell they are the ones i am worried about?

Sorry not to be able to give you solid information but it's a bit like the 'how long is a piece of string' question. There is no definative answer!
Some will find certain creditors a nightmare, others will have absolutely no bother with them. No pattern at all to it.
I know it's difficult but try not to worry in advance. Take it one step at a time, deal with what arises. Keep communicating with your creditors so they realise you are being upfront.

'Twitty'

red_scorpian

Hi Fred flintstone
, I have a large debt with the bank of Scotland and have been doing a self managed dmp for two years and the bank has been great from the very outset I cannot fault them they get in touch with me every six months or so ,and the staff are very helpful .I hope this helps you relax a wee bit .

I know it's hard not to worry but keep coming back to this site and ask as many questions you feel you need to ask , we've all been there good luck and take care x

vickle1970

Hi, called CCCS this morning and I was advised to write to my bank telling them I do not authorise any payments to be made to Wonga or Payday UK, How should I word this?

I have all the info for CCCS ready to send off but I don't want my bank to be told I am on a DMP until my cashminder account is set up, I get paid 30th and if they take my overdraft back there will be nothing left, will CCCS wait or will all creditors be told once my paperwork is received?

Called Wonga back for my account number and was told once more that they will not take anymore money until CCCS have contacted them as I am on a hardship plan, CCCS said they may still try to take payment hence the letter to the bank.

Called Payday UK, not so good, was advised that they will still take the payment and it is unlikely that they will accept the DMP