New DFW - Learn from my pain!

saltnvinegar

Hi All

Another response in the post today. Creditor #6 has agreed to my payment plan, has reduced interest to a minimum level and frozen charges.

Another creditor closer to a full deck!

Next week will be an interesting week as payments go in and reduced payments go to my creditors who have not responded yet.

Also today one of those creditors have defaulted on a CCA request so follow up letter to go out shortly.

Best

SNV

Hannah_10

Shameless bump.

clareb2010

great post snv, makes me feel better about us getting into this pickle!

saltnvinegar

Hi All

Get home this evening and more good news. Another creditor has accepted my payment plan.

This means I now have a majority and with only two creditors left to respond (shop direct but multiple accounts ), and Wonga and only Amex who had outrightly rejected my proposal I am on a strong footing.

SNV

saltnvinegar

Hi All

As I almost have a full house thought I would post up which creditors have been co-operative and have agreed to my payment plan just to give some credit to them for understanding my circumstances (and also to shame, not that they care I'm sure, those who have not):

American Express/AIC - Outright refusal (complaint going to local TS and OFT against AIC for blatant breach of unfair business practices)

Blair Oliver and Scott (IF) - Accepted DMP and frozen interest and charges

Blackhorse - Agreed to DMP but still applying interest and charges (letter to go off asking for further consideration of freezing these)

Halifax - Agreed to DMP have reduced interest and frozen charges

Lloyds TSB - Agreed to DMP and frozen interest and charges

Next - Agreed to DMP and frozen interest and charges

Shop Direct - No response to DMP proposal (to date)

Payday Express - Agreed to DMP and frozen interest and charges

QuickQuid - Agreed to DMP and frozen interest and charges

PaydayUK - Agreed to DMP and frozen interest and charges

Wonga - No response to DMP proposal

So for those out there who are just starting their DMP journey just keep positive and fingers crossed you'll be able to get a reasonable response from your creditors.

SNV

Hannah_10

Don't forget as well that you can foce thier hand to a certain extent by sending the cheques. Do you already know about this one?

saltnvinegar

Hi Hannah

Thanks for the advice, I wasn't aware of forcing things by sending cheques.

What I have got though is AIC and AMEX bank details which I have been making payments to before (more than I could afford but I am wiser now!).

I have already informed them I will make payments in line with my payment plan whether they accept my proposal or not so we shall see if they return it. Something tells me that they won't!!

SNV

Hannah_10

saltnvinegar wrote: »

I have already informed them I will make payments in line with my payment plan whether they accept my proposal or not so we shall see if they return it. Something tells me that they won't!!

You got it. Once they start cashing the cheques they are seen as having more or less accepted in the eyes of a judge, so from your point of view the intitial letters are more about interest and charges negotiations than about the amounts.

If you send them a cheque they will cash it (they just can't help themselves). Although obviously getting them to take a payment of £x hasn't got your interest stopped, so you're right to go for written agreement first if you can get it.

saltnvinegar

Hi All

I finally have had a response from Wonga (see below).

Well unfortunately I am going to default as there will be no money in the account they will try so we shall see what happens. I would like to see them defend ramping up interest and charges when I have made several attempts to come to a payment arrangement already.

Obviously I am not going to be calling them so will keep emailing on a daily basis.

SNV

After reviewing your account, we can see your loan is not due to 31 August 2010, under your credit agreement with Wonga.com, full payment will be taken on your due date.


Please note no payment plan can be agreed before you due date. If you require a repayment plan after this date due financial difficulties, you will need to provide proof of change in your financial circumstances such as ill health or loss in employment.


If you wish to discuss your account in more detail, please do not hesitate to contact a collections on 0844 842 9109 as soon as possible. Our office is open Monday to Friday, 9am to 6pm.




Kind regards,


Collections Department
0844 842 9109
Wonga.com

Consumerist

Hi SNV,

An inspiring read. Well done. We all wish you luck and look forward, impatiently, to the next episode.

You are right about the threat of court action. If your offers are "fair and reasonable" i.e you are paying as much as you can reasonably afford and dividing it up in proportion to the debts, then a court would not make you pay any more. The only consequence of their action might be that you will a CCJ against you. Given that your credit record has, probably, already been trashed this is not really of much additional consequence right now.