Sent DMP paperwork in, what next?

mrsdwhite

Hi, I've ust posted all my creditor letters and my DMP paperwork back to CCCS today. Can anyone tell me what to expect to happen now?
My DH who is currently setting up his own DMP said they spoke to him today and said someone whose DMP plan is less than 10 years tends to be accepted fairly quickly.
Does this mean that as mine is approx 2 years 10 months that it should go through quickly and possible be set up before my next lot of payments to creditors is due around the middle of August?

Thanks in advance for the help

Tixy

Usually it can take CCCS about 4weeks to process the paperwork and take the first payment off you. They generally pay creditors a week or so after you pay them. So its probably quite likely that there won't be a DMP payment to creditors mid august.
If that is the case you can send just a token payment yourself that month (CCCS will advise).

Once CCCS have started payments to your creditors you should start to get letters through from the creditors some saying yes we accept your DMP and will freeze interest, some saying they will not accept the DMP or will not freeze interest and various vague responses in between. Some might totally ignore the CCCS contact to start and simply write asking you to catch up with payments or threating court action.
Most are likely to send out default notices over the next few months, this is something they have to send out and its just so they can register a default on your credit file - so when they come it doesn't mean they are about to start court action (or though they may be worded to give that impression).

mrsdwhite

This is the scary part! Especially as three of my five debts are with my own bank. I switched money from my current bank to my DH's new bank account today (still waiting for mine to completely set up) as soon as I'd posted the letter.
Does anyone know what Llloyds TSB, Egg and Next are like with DMP's?? I'm imagining my bank (Lloyds) wont take it too well.... What do I do about dfault notices etc... Ignore them?

Tixy

Default notices - just keep them on file somewhere.

Lloyds don't have a great reputation at the moment for freezing interest, but its difficult to say as creditors don't ever seem to be consistent when dealing with DMPs. Any specific creditor might accept your DMP/freeze interest, but turn down somone else in very similar situations. Sometimes they might say you are paying too little for them to freeze interest, other times that you a person is paying too much!

Don't let any of them bully you into extra payments or taking out new loans etc to pay off these debts.

mrsdwhite

Thanks.
I didn't think Lloyds would have a great reputation, I'm soo glad to be seeing the back of them (one way or another). I imagined (hoped) that CCCS would do all of the dealing with this stuff, as it's this part that worries me. I certainly wont be being bullied into anything, especially more credit. I have vowed that once all of this is sorted I will only get credit for something like a mortgage and CC's can bog right off!

Tixy

Its usually just the first couple of months you might get them contacting you direct. If they phone either give your CCCS reference number and hang up or refuse to answer security questions.
After that it often goes quiet.

Good luck with it all and if you have any questions or problems with how they are behaving then pop on here and ask - eg if you someone won't stop calling there is a letter you can send to stop all calls and have all communication in writing.

taylor25

Lloyds were the worst of our creditors and one of the smallest . We've been in our DMP for nearly a yr now and its only recently they have turned our accounts over to Apex who have stopped the interest. I cant tell you how many letters Lloyds have sent us in the last yr lol.

Egg were fine and stopped interest almost straight away.

mrsdwhite

What did you do regarding Lloyds? I'm planning on ignoring them and or referring them to CCCS. Did they threaten action against you?

PoshPants

Well done for being positive about your debts! It sounds clich! but the hardest part is realising something needs to be done and taking the necessary actions to make it right.

The one thing I would say is not to worry about what may or not happen. I was exactly the same 6-8 weeks ago wondering about each of my 11 creditors but there's nothing that either the good people on this board or CCCS won't be able to answer for you.

Just stick with it, follow the advice as to what to do next from CCCS and see what happens.

Good luck with it all and keep us posted as to how it goes.