DMP Mutual Support Thread - Part 7

ianmak

Useful with regards signatures?
http://forums.moneysavingexpert.com/showpost.php?p=24057323&postcount=7

ianmak

Other suggestions are to provide a background to the signature, like:

5/1/12 5/1/12 5/1/12 5/1/12
5/1/12 5/1/12 5/1/12 5/1/12
5/1/12 5/1/12 5/1/12 5/1/12
5/1/12 5/1/12 5/1/12 5/1/12

And sign over the top of that. That way it makes it harder (but not impossible) to duplicate.

Growurown

Happy New Year to you all, and welcome to all the newbies. I suspect there will be lots more this year as the cut backs bite.

I signed my letters to creditors when starting my DMP last year and haven't had any problems. Things have been ticking along OK and I could also paper my living room with the default letters and that helpful piece of paper they put in every letter about dealing with your arrears.

Fairie sorry not to get back to you, got a bit pre-occupied with the Christmas Spirit :beer:

Personally I would try and contact past creditors purely for my own peace of mind. I would always be worried about the knock on the door, but I do know that some would say let sleeping dogs lie. The choice is yours, but I would say to keep records and copies of letters etc. so you have proof that you have tried to contact them even though the debts are quite old.

BlushingRose

How annoying is this?
I mentioned earlier that money had gone, un-noticed, into Mr BR's old bank account. We worked out that it was our credit from British Gas. However, we didn't ask to be paid the money, and they didn't tell us they were paying it, and now it's gone. The old bank account is now about 70p more overdrawn than it was before the £166 went in from British Gas - this is because of the fees that the bank has charged, so in a way it's helpful. BUT - so annoying that we didn't know it was going to be paid and so we've 'lost' the money to bank fees. I'm a bit fed up about it, to be honest.

ianmak

mallyash wrote: »

Fair points made. But you can use the help of CCCS to collate a Common financial Statement either using their online debt remedy or through a personal or telephone interview and use this as the basis of your self managed DMP. To quote 'The Banking Code' (to which nearly all the major money lenders are subscribed to) section 206 to 212
206.If a customer works with a debt-counselling organisation to complete a CFS, in support of a debt management plan, the subscriber should accept the CFS as the basis for pro-rata distribution amongst creditors covered by the plan. Repayment offers based upon expenditure falling within the trigger figures of the CFS should only be challenged by the subscriber if it has reasonable cause to believe that the customers income and expenditure figures may be incomplete or inaccurate.
209.There is no reason why the content of the income and expenditure statement should not be challenged but if the figures appear to be reasonable and in line with trigger figures where a CFS is used, then these principles should apply.
211.Subscribers should also comply with the Codes standards for CFS-based negotiations when considering debt repayment proposals made using other repayment models that are endorsed by the Lending Code sponsors. Currently, the CCCS Debt Remedy service and self-help tool CASHflow developed by the MAT are recognised and others will be reviewed from time to time.
212.Personal customers may choose a self-help approach to negotiating debt repayment. Subscribers should ensure that such proposals are given equal consideration as those presented through a debt adviser.

To reply to your other points.Creditors do know whats going on due to your Supplied CFS, List of creditors, total ammount owed and the letter of statement of affairs explaining your situation and why you are making these proposals. I agree, just not bothering not to pay anything and ignore all communication is a fast track to a CCJ. But supplying all the necessary information and payment proposals calculated on a pro rata basis shows you are addressing your debt problem in a positive manor. This married with the prospect of defaults on your credit file for the next 6 years and no hope what so ever of getting credit or a morgage proves wih out doubt that you are serious about your debt problem and subsequent DMP.
With reference to telephone calls, creditors will still phone you even if you are with a DMP agency like cccs. I dont mind talking to creditors on the phone but prefer all communication in writing, to eliminate any doubt when later refered to. You cannot put a telephone conversation into a filing cabinet. Telephone calls to some people also result in added stress and can quickly escalate to harassment. A call once or twice to confirm your intentions should be enough. 4 or 5 times a day and while at work only to ask you the same questions ain't on.
Finally they want their money, fair play and they are going to get their money, through a DMP. It might take a while to get it back,but tough.

Sorry I wasn't having a go, just saying that using a charity could smooth things a little. I only speak to creditors in response to letters, or to answer their calls and refer them to PayPlan. I haven't actually written any letters to them, as I haven't needed to.

With regards the banking code, I could be wrong, but does everyone starting a self managed DMP supply the CFS, list of creditors and so on, using tools from nationaldebtline or CCCS? I'd imagine some may just send an SOA along with payment and a letter, until they know any different. At least the charities do that for you to some extent (and yes I am aware that they aren't perfect!).

The phone calls are a funny one. Yes I did receive a number of calls, but mostly to my home phone. If they left a message then I would call them back. When I did answer or return their calls, they didn't call again as the account was put on hold until PP got in touch. I didn't get harrassed, and I seriously believe it was because I picked up the phone (and didn't ignore it). Or maybe I was just lucky.

Cheers!

Ian

Giraffeseeker

BlushingRose wrote: »

How annoying is this?
I mentioned earlier that money had gone, un-noticed, into Mr BR's old bank account. We worked out that it was our credit from British Gas. However, we didn't ask to be paid the money, and they didn't tell us they were paying it, and now it's gone. The old bank account is now about 70p more overdrawn than it was before the £166 went in from British Gas - this is because of the fees that the bank has charged, so in a way it's helpful. BUT - so annoying that we didn't know it was going to be paid and so we've 'lost' the money to bank fees. I'm a bit fed up about it, to be honest.

Bad luck, that's really annoying :mad:

Is there any way BG can recall the payment for you?

I spoke to them today to get a refund on my gas and eletricity account and they checked the bank details with me, but I initiated the refund, not the other way around. I'm surprised they just sent it without telling you first.

mallyash

ianmak wrote: »

Sorry I wasn't having a go, just saying that using a charity could smooth things a little. I only speak to creditors in response to letters, or to answer their calls and refer them to PayPlan. I haven't actually written any letters to them, as I haven't needed to.

With regards the banking code, I could be wrong, but does everyone starting a self managed DMP supply the CFS, list of creditors and so on, using tools from nationaldebtline or CCCS? I'd imagine some may just send an SOA along with payment and a letter, until they know any different. At least the charities do that for you to some extent (and yes I am aware that they aren't perfect!).

The phone calls are a funny one. Yes I did receive a number of calls, but mostly to my home phone. If they left a message then I would call them back. When I did answer or return their calls, they didn't call again as the account was put on hold until PP got in touch. I didn't get harrassed, and I seriously believe it was because I picked up the phone (and didn't ignore it). Or maybe I was just lucky.

Cheers!

Ian

No worries Ian, I never thought your were being abrasive:)

M_G

I'm going to open a new bank account today, my DMP hasn't yet been signed or started, I'm thinking about making a couple of months worth of token payments to clear my priority debt first (blasted payday loan!), my credit rating is bad but not awful (yet!), does anyone think there's any point in going for some of the better bank accounts that offer benefits and high interest rates? The new account will always be in credit because I'm going to strictly request no overdraft.
Can anyone recommend any good bank accounts in this situation? Should I just open a basic one to be on the safe side?
Thanks all!

sickasachip13

Hi MG, it depends who your debt is with to some extent - many of the banks etc are linked and could, if they wanted, dip into your new account to 'off-set' the debt. There is a list somewhere, I think on the National Debtline of linked financial institutions - so be very careful not to approach anywhere linked to your creditors. On the account question - when we made our new current account it was before we'd missed any payments and before anything went bellyup (only just), we went to Santander and opened a normal current account - visa debit card and cheque book, online access etc, they automatically put an OD on but we hastily cancelled this and all was fine. Other people here recommend the co-operative too.

You do need to move fairly quickly on doing the account though!

BevieB

BlushingRose wrote: »

How annoying is this?
I mentioned earlier that money had gone, un-noticed, into Mr BR's old bank account. We worked out that it was our credit from British Gas. However, we didn't ask to be paid the money, and they didn't tell us they were paying it, and now it's gone. The old bank account is now about 70p more overdrawn than it was before the £166 went in from British Gas - this is because of the fees that the bank has charged, so in a way it's helpful. BUT - so annoying that we didn't know it was going to be paid and so we've 'lost' the money to bank fees. I'm a bit fed up about it, to be honest.

Hi BlushingRose, We started our DMP in October and was getting bank charges from the Halifax due to a creditor managing to take a DD out when cancelled. I wrote a complaint letter stating that the charges were unfair. This lead to the Halifax writing asking me to contact them.I managed to get over £200 refunded and no further charges. Its worth a go, write to complain and state that you are in hardship.