Dmp- what to expect?

alice87

Hi guys

Ok so the ball is rolling for me now. Payplan couldn't administer my dmp (not enough debt!) but wrote all my letters for me and have told me what to do. All payments due to bounce at the end of the month! My salary is going elsewhere this month and I posted all the letters today. Letters to the tune of here's my offer, soa and creditor schedule enclosed.

Just wondered what experience others have had and what to expect now? Any advice is hugely
appreciated!!

Creditors are...

Natwest overdraft
Natwest personal loan
Natwest credit card
Barclaycard
Capital one credit card

And payday loans:

Quick quid
Payday express
Wageday advance
Lending stream
Capital finance one

Anyone got experience of how any of these companies might react?

Thanks!!!:p

djbum_syd

If the debt is still with Capital One credit card, you'll find them completely useless.
If they have passed it to a debt company, then they are great.
I have a debt with Capital One, and they refused to accept I couldn't pay them back (even after seeing a SOA), in the end it went to a DC, who were very nice, accepted my amount and I pay them every month on time now.

However, they may be nicer now (as this was going back 2-3 years).
Good luck with everything. x

alice87

The debt is still with capital one - should I just wait for them to pass it to a debt recovery agency? Sounds silly but that really scares me - what happens if it gets passed?

I feel much more positive this morning about everything, I'm worried about what's going to happen but it beats worrying about how I'm going to get through the month!!

looktothefuture

I have looked after my own dmp for 2 years now and to start off with I found it frustrating when the creditors refused to accept that I couldn't afford a higher amount but after that bump in the road, I fought my side and continued paying them what I could afford at the time and I've been sprinting ahead ever since!

You will have days where you think, "this isn't going anywhere!" and you will have days where everything just clicks into place. And when it does click, you'll know it has!

I have a spreadsheet I check on a weekly basis with my bank statement or online statement which lists every payment I am due to make, on which day, there are also 2 columns which list how much I've paid off and how much I have left to pay. It's evolved over the years to also capture what I spend on a daily basis and what I pay toward other household bills.

The hardest part of all of this is waiting to find out if they accept your payment or not! Good luck with this, and remember, you will always have friends on this thread to vent at when things get a little blurry!

Oh, and why don't you start a DFW diary and post your SOA to it? People will be along to help you work things out!

chesky369

But doesn't it give you a bit of a boost knowing that your debts are smaller than everybody else that Payplan deals with!!

Don't forget that if you need further assistance down the line, you can go to your local CAB for help.

alice87

I might just do that I feel like it's the calm before the storm now, especially with the payday companies as they're bad bad people

How do I start a diary?

Thanks

alice87

Natwest credit cards have just agreed to LESS than I offered!! 1 down 9 to go happy happyhappy!!

winner12

Hi there
I have been battling with Capital One for 11 months now there DCA are a nightmare too but I complained to FOS some time ago they passed it back to Capital One who still refused my DMP and sent a final response letter which still did not amount to acceptance of my DMP so the upshot is the FOS have agreed to look into my complaint again and this time they have appointed someone to deal with it on my behalf which is great so dont give up even when the going gets tough its a hard long haul but hopefully you will get there all my other creditors have been fine its just Capital One
Good Luck

stassy23

capital one when i rang to say i couldnt afford the min payment they were useless so then i went on a dmp they have froze interest and they accepted and havent heard much from them