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DMP Mutual Support Thread - Part 7

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Comments

  • 2spicy wrote: »
    Were with Payplan.
    In duscussion with our advisor, we can make an offer to any creditor at any time to settle the debt. We donot "have" to offer each creditor the same or a divided portion of the total.

    The understanding being, that when one creditor has been settled, the total monthly amount for each remaining creditor should increase.

    Was advised that if we wanted to make a settlement offer, to contact payplan who have a settlements team who will try and negotiate a "Full and Final" figure on our behalf (which may be less than the outstanding balance, but a sum that a creditor is willing to accept as full settlement of the debt) .. this it would leave even more in the "pot" for the remaining creditors to have shared out between them.(if that makes sence?)

    -Spicy
    We are with CASHFLow and the advice we have received re full and final settlements is the same as Spicy has detailed. I agree that the whole process is so confusing !
    LBM July 2011 - Finally took control Nov 2011 DFD Sometime in the distant future ! :eek:
    Total debts Nov 2011 [STRIKE]£96796.75[/STRIKE]:eek:
    Total Debts JUL 2020 £00.00
    Cleared Jul 2020 £96796.75
    :T
    Emergency Fund / Rainy Day - £5500 . DMP Mutual Support Thread 428
  • If you want them to speak to you you can ask your OH to call them and put your name on the calling list thingy. I had to do this when DH was away working for ages, although they may have just made an allowance as otherwise they wouldn't have spoken to him for 6 months, but i doubt it? it's worth a try if you're home more and are happy to sort it out :)

    He's now filled in a form giving me permission to speak with them on his behalf. Just means it's easier if he's at work and something happens.
    Our LBM: Dec 2011. DMP started: Jan 2012. Debt at LBM: £41,568

    Oct 2012 = Current debt: £40,548.93
    Oct 2013 = Current debt: £39.054.70


    DMP Support number 424 - Long haul number 308
  • BevieB wrote: »
    For all newbies dont give up and pick up the phone and stand your ground as the banks are able to help if they want to.

    Mr BR wrote a letter to his bank at the beginning on Dec, saying that if they would only freeze charges, that would help us no end and that we were struggling but hoping not to default and *please* would they help.
    In the days following, we got charge on top of charge on top of charge. We transferred the bank account etc. Two days ago we got a letter from the manager, addressed to MR BR (initial incorrect) asking us, further to his letter, to fill out a SOA. Mr BR said it was too little, too late, and replied (possibly wrongly, but he was cross) saying that in his letter he'd begged them to help, to reduce charges and instead we got charged loads, so thanks but no thanks.
    I can't feeling he shouldn't have done that, that it might make them less willing to support our DMP, but he'd done it and sent it off before telling me. (He also made comment in the reply about his initial being wrong after banking there for over 30 years.
    Thought anyone please? Has he actually done more harm than good here?
    Our LBM: Dec 2011. DMP started: Jan 2012. Debt at LBM: £41,568

    Oct 2012 = Current debt: £40,548.93
    Oct 2013 = Current debt: £39.054.70


    DMP Support number 424 - Long haul number 308
  • Mr BR wrote a letter to his bank at the beginning on Dec, saying that if they would only freeze charges, that would help us no end and that we were struggling but hoping not to default and *please* would they help.
    In the days following, we got charge on top of charge on top of charge. We transferred the bank account etc. Two days ago we got a letter from the manager, addressed to MR BR (initial incorrect) asking us, further to his letter, to fill out a SOA. Mr BR said it was too little, too late, and replied (possibly wrongly, but he was cross) saying that in his letter he'd begged them to help, to reduce charges and instead we got charged loads, so thanks but no thanks.
    I can't feeling he shouldn't have done that, that it might make them less willing to support our DMP, but he'd done it and sent it off before telling me. (He also made comment in the reply about his initial being wrong after banking there for over 30 years.
    Thought anyone please? Has he actually done more harm than good here?

    Hi BR. I doubt it will make any difference whatsoever. Your DMP will now be dealt with through CCCS and the SOA will need to come from them in any case. I am sure it will be fine. You could always mention it to CCCS and see what they say too.
    LBM August 2011. DFD somewhere post [STRIKE]2025[/STRIKE]2022 :eek:
    Total debts October 2011 circa GBP 17,700 September 2018 GBP 0 DMP with Payplan
    What doesn't kill you makes you stronger:T:D:D:D
  • Was a little bored this morning so just out of curiosity I thought I would have a look at the websites of private DMP providers; see if they tell out and out lies, give false hope etc. So many times I post the replies of this forum, like others, telling people to avoid them and go with Payplan or CCCS.

    Well, yes they do misslead. But what really got me was this set of fees from a company I have often seen referred to on these threads:

    "We charge an initial fee then an ongoing monthly management fee.
    The Initial fee will be the same as your first monthly payment subject to a minimum of £225 and a maximum of £475 (note: this will be taken from your first payment, not added to it - you'll only ever pay what you can afford)
    The Monthly fee will be 15% of your monthly payment subject to a minimum of £32.50 and a maximum of £85.00 (note: this is taken from your regular monthly payment, not added to it)"

    My monthly DMP is only £110 so can you imagine!

    Moreovere, they provide you with a bak account and also charge you £14 for that as well!!!

    Absolutely apalling:mad:
    LBM August 2011. DFD somewhere post [STRIKE]2025[/STRIKE]2022 :eek:
    Total debts October 2011 circa GBP 17,700 September 2018 GBP 0 DMP with Payplan
    What doesn't kill you makes you stronger:T:D:D:D
  • Ok Ladies and Gents help needed.
    What would be your thoughts on the below.

    Capital one will not budge unless I forward Bank statements and wage slips. If I do this they will immediately suspend all charges and freeze interest. Until I do the account runs as normal with all charges incurring.
    They have had a letter from me quoting relevant sections of the lending code to which Capital one are subscribers, but they certainly are a stubborn lot. Company policy regarding re-payment plans apparently. In light of this I'm inclined to do this with the important parts like account numbers/sort codes and wot not blacked out just to get the re-payment plan in place and dusted. Or should I fight for my rights and dig my heels in but still pay the proposed amount.

    RBS on the other hand will do the same as capital one on the condition that I sign my Financial statement, or the form they have sent. Do I just sign and settle for the easy life? Or carry on being abrasive?
    I would not normally give in, but I'd just rather get the ball rolling and start to pay off my debts rather than drag it out with the creditor piling on charges. Any thoughts or help on this would be greatly appreciated.
    No calls from OPUS for three day though. :T
    There are better things in life than worrying about money…like nailing a jelly to a tree for example.
  • Hi BR. I doubt it will make any difference whatsoever. Your DMP will now be dealt with through CCCS and the SOA will need to come from them in any case. I am sure it will be fine. You could always mention it to CCCS and see what they say too.

    I hope so.
    I can appreciate his frustration and why he'd want to growl at them, but I don't want *them* getting stroppier as a result.
    Our LBM: Dec 2011. DMP started: Jan 2012. Debt at LBM: £41,568

    Oct 2012 = Current debt: £40,548.93
    Oct 2013 = Current debt: £39.054.70


    DMP Support number 424 - Long haul number 308
  • Was a little bored this morning so just out of curiosity I thought I would have a look at the websites of private DMP providers; see if they tell out and out lies, give false hope etc. So many times I post the replies of this forum, like others, telling people to avoid them and go with Payplan or CCCS.

    Well, yes they do misslead. But what really got me was this set of fees from a company I have often seen referred to on these threads:

    "We charge an initial fee then an ongoing monthly management fee.
    The Initial fee will be the same as your first monthly payment subject to a minimum of £225 and a maximum of £475 (note: this will be taken from your first payment, not added to it - you'll only ever pay what you can afford)
    The Monthly fee will be 15% of your monthly payment subject to a minimum of £32.50 and a maximum of £85.00 (note: this is taken from your regular monthly payment, not added to it)"

    My monthly DMP is only £110 so can you imagine!

    Moreovere, they provide you with a bak account and also charge you £14 for that as well!!!

    Absolutely apalling:mad:

    Bloody Locusts. Con men usually end up on telly watchdog programmes. No doubt most of these DMP providers will soon.
    There are better things in life than worrying about money…like nailing a jelly to a tree for example.
  • Fairie
    Fairie Posts: 42 Forumite
    Part of the Furniture Combo Breaker
    Growurown wrote: »
    Hey Fairie
    I noticed no one has replied to your post. Have you sorted this out yet? If you haven't had contact with your creditors for a long time they may have written the debt off especially if it wasn't for a large amount.

    Hi Growurown

    I was wondering if this would be the case but was hoping they would reply with a letters to say so.

    One debt is fairly large and is a mortgage shortfall, and id be very suprised (although pleased) if they had wrote it off.

    The others are from companies that have bought the original debt for example from npower.

    not sure weather to write to them again requesting a reply or just to wait and see....any opinions?

    Fairie
    Just the mortgage to go = £255,000 Aug 23
  • mallyash wrote: »
    Ok Ladies and Gents help needed.
    What would be your thoughts on the below.

    Capital one will not budge unless I forward Bank statements and wage slips. If I do this they will immediately suspend all charges and freeze interest. Until I do the account runs as normal with all charges incurring.
    They have had a letter from me quoting relevant sections of the lending code to which Capital one are subscribers, but they certainly are a stubborn lot. Company policy regarding re-payment plans apparently. In light of this I'm inclined to do this with the important parts like account numbers/sort codes and wot not blacked out just to get the re-payment plan in place and dusted. Or should I fight for my rights and dig my heels in but still pay the proposed amount.

    RBS on the other hand will do the same as capital one on the condition that I sign my Financial statement, or the form they have sent. Do I just sign and settle for the easy life? Or carry on being abrasive?
    I would not normally give in, but I'd just rather get the ball rolling and start to pay off my debts rather than drag it out with the creditor piling on charges. Any thoughts or help on this would be greatly appreciated.
    No calls from OPUS for three day though. :T

    Anyone? Please.
    There are better things in life than worrying about money…like nailing a jelly to a tree for example.
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