DMP-What's the point in going on?

glimmerofhope

Hi Pink Angel

Dont let the !!!!!!s get you down:o (owww naughty word!)
I dont know about Lloyds but Natwest continued to add interest; I just kept writing every couple of months and then after 6 months I wrote a letter basically saying ' I am making my monthly payments as per the DMP can they look at freezing interest as I am committed to reducing my debt in the quickest possible time'. They froze interest.
As all the other posters have said - send the no contact letters.

And remember this board is great for support or a rant or just to browse for advice

I know it may seem hard to believe but it does getter easier, budgeting becomes easier and you even find ways to save money off your SOA
I have been on a DMP for just over a year and after the initial despair and worry I now worry less about bank letters or calls as I know I am paying everything I have spare...and the best thing a good nights sleep
Lots of people routing for you as you can see from the responses
Take Care

feeling-good

mummum2 wrote: »

Lloyds are the pits! :mad: banked with them for over 20 years accounts for nothing. Been on DMP 4 years this September, I have loan, interest after about 6 months, O/draft, keep adding interest, stopping interest, till they sold it to Apax this month, all interest stopped, Apax to give them credit was really nice. Sent E&I, which was accepted by them, agreed same amount that I was paying Lloyds.....credit card is another story, paying £96 of which interest is over £60, no amount of letter writting seems to be shifting them, have requested only communication in writting, but still they keep calling, only have my work number, I now don't even answer the phone to them now, can see their number. Arrived home last night to get a letter from their collection centre in Brighton saying:

We would like to tell you about our new online service that will help you manage your account.

Simple go to www.lloydstsb.com/selfmanage and quote your account number and personal on-line reference ID as shown above.

You will be able to:

- View the status and blance of your account
- Make a payment using a credit or debit card (don't think so!!!)
- Notify us if you are experiencing financial difficulties.

In addition, there is help and guidance about managing your money and answers to frequently asked questions (FAQ) about our collections process.

Manager, collections centre (can't read signature...one of their computer generated letters)

Plus another from Hove - (like a payment slip) which reads:

IMPORTANT INFORMATION

You need to make an immediate payment to bring your Lloyds TSB account up to date.

To pay go to (same website as above....quote the same numbers as above)

If you have alredy made your payment, thank you.........YES I BLODDY HAVE, I PAY YOU ON THE 1ST OF EVERY MONTH £98 BLOODY POUNDS, CAN'T DO ANY MORE, PLEASE PASS IT ON..so feed-up. All my other creditors are on board, have been from day one, but these critens are the bain of my life! :mad:

Good luck and let us know how you get on!

MM2

This is LLoyds all over ! They are awful, I was in a DMP for 5 years and they were terrible, they did not freeze interest for me either on 3 accounts, late payment charges etc, the calls stopped though when I changed my numbers haha, then they had to write, I am so glad I have finished my DMP now, and yes all the calls go to and come from India or somewhere the other side of the world,
I spoke to them last month and said that now I was debt free they could close my account and shove it ! They said they cannot close the account as I have to go into my branch to do that ! I have not stepped foot in a LLoyds TSB for over 6 years so a little nervous about going in but in a sadistic kinda way I am looking forward to it ! It;s my chance to tell whoever what I really think of them and what hell they put me through and what they are still putting others through,

Shame on you LLoyds ! People want to pay what they can afford and you just take the p*** out of them !
I do really hate you !!! You ruined the last 10 years of my life !!!
I feel better to get that off my chest LOL

Jinx

I've just posted this on another thread - seems to be a lot of not freezing interest going on - maybe the banks are hard up lol

My suggestion would be to pay them a token amount, eg 1 pound a month. If that doesnt make them sell your debt nothing will. Morally I guess you should pay them what you can afford, but if you suddenly find yourself a bit short and have to drop them to a token payment well that would be unfortunate wouldnt it?? DCAs are much easier to persuade to freeze interest as they buy the debt for buttons.

They could of course take you to court, but if you've been on a DMP for a while - I doubt they would (no guarantees though) as they know you are skint...

I've had all the threatening letters over recent years and not once been near a court and I've done payments, up, down and token pounds as circumstances dictated

glimmerofhope

Jinx wrote: »

I've just posted this on another thread - seems to be a lot of not freezing interest going on - maybe the banks are hard up lol

My suggestion would be to pay them a token amount, eg 1 pound a month. If that doesnt make them sell your debt nothing will. Morally I guess you should pay them what you can afford, but if you suddenly find yourself a bit short and have to drop them to a token payment well that would be unfortunate wouldnt it?? DCAs are much easier to persuade to freeze interest as they buy the debt for buttons.

They could of course take you to court, but if you've been on a DMP for a while - I doubt they would (no guarantees though) as they know you are skint...

I've had all the threatening letters over recent years and not once been near a court and I've done payments, up, down and token pounds as circumstances dictated

That sounds like a cunning plan....like it:j
Jinx you look like you are on the edge of being debt-free congratulations

secretshopper75

PinkAngel, sorry that you're feeling down but glad that you could come on here and tell us so we can support and help you x

Jinx

glimmerofhope wrote: »

That sounds like a cunning plan....like it:j
Jinx you look like you are on the edge of being debt-free congratulations

Thanks, its been a long journey - but the time passes quickly and MSE is a tad addictive lol Roll on Friday :j

Pink-Angel

Just want to say thanks so much for all the messages of support, it really has cheered me and shown me there is light at the end of the tunnel (if a long way off!). Thanks too for all the helpful advice/suggestions/imparting of experience. This site is a true Godsend full of lots of amazing and kind people. I am truly grateful and moved x

thechippy

Hey Pinky - hope you're ok!

Don't let these idiots grind you down.

Personally, if a creditor refuses to cease interest, I would write and say that unless they cease interest, then you will cease payment - period!

What's the worst they can do?

Get a ccj? - so what, great interest then ceases.

Sell to a dca? - great, interest ceases.

Sod 'em. Stand up for yourself......;)

surrey648

... and I thought it was just me! Lloyds.. that word needs to be removed from the English language!

I have 10 creditors, and started a DMP through CCCS almost 4 years ago. Most have frozen interest, or drastically reduced it, yet Lloyds continue (yes, even now) to charge full interest, send demands for payment, default notices and last week I received a letter from a solicitor demanding a formal payment (the full amount!). I'd love to know how others have managed to have their debt sold on... is it because you're self managing??

I emailed CCCS in horror, but in the meantime I rang them. I got through to an call centre somewhere in India and was asked for full payment. I told her that I was on an AGREED ATP through CCCS, and she even quoted my CCCS reference number back to me!! She asked why I couldn't pay (I had to bite my very sarcastic lip)!! I explained that of all the people I owed money to, THEY were the ones I wanted to get rid of as they were making my debts bigger! I then explained even if I had a spare bucket of cash, I couldn't make a payment as this would be detrimental to my DMP, and I certainly wasn't prepared to show them any preference!! She then became very jolly, told me to ignore the letters, as it was "only a formality", and that I shouldn't worry!! Thanks for the advice sweetheart!! :mad:

CCCS then replied to inform me that this solicitor was their own internal legal services! What a cheek!!

On a happier note (for want of a better phrase) my debt to Lloyds had been increasing every month, but now it is decreasing.... that said, they update my credit file every month, reducing my credit limit (even though they have not received payment for 3 months apparently), and have now put a derogatory status on there too! Nice, don't you just love them?!?!

Chin up, my fellow debt free wannabe - remember that this ISN'T personal! They bully the scared and weak! Be strong...we WILL get there... it may not be the easiest journey, but by jingo we won't get into debt again!!! :T

finaniciallyfitforfortys

hi
sorry u feel like that but there is light at the end of the distant tunnel. had to go to debt advice etc last yr after i had to leave work wiv illness and OH lost job. (never been out of work in 25 yrs) i know the despair as past 2yrs prior to this had struggled to pay debt (my OH but he used my credit card) we have managed to pay 3 in 1yr as 2 acceppted partial settlement -in view of my ongoing illness - still 2 of my OH to go -but please dont give up hope- ur life is too precious x