Anybody know anything about Myvester?

moonlightpjs

Hi all, saw this company mentioned in a previous thread and have looked at their website and everything seems ok but just wanted to know if anybody knows anything good or bad about them. Have spoken to them and they are willing to do a DMP for us and did discuss the other options, ie: IVA and Bankruptcy.

As I mentioned on a previous thread, a DMP is our only option apart from bankruptcy but we are trying to avoid that for the moment (though not ruling it out). We did have a DMP with CCCS but they cancelled that due us to not decalring a debt - again mentioned in a previous thread. Payplan can't help us as some of the debts are now with DCA's and apparently they dont deal with Payplan, also spoke to Payplan about an IVA but they advised against it as most of the debts are in my name and I am on benefits so it is not viable.

I know I still need to post our SOA, so please dont get mad, and I will get around to it but if anybody knows anything about this company could they please let me know - its seems a better alternative than, for instance GP and the like.
Any comments much appreciated, Thank you

thefoolonthehill

if they are gonna charge you dont do it.

try setting up a self managed dmp. work out all your incomings / outgoings. write to each creditor to advise you cant afford to the repayments and advise them what you are going to pay. ask them to stop interest. you can always tell them you are with cccs. they can never find out if you are not as dpa does not authorise anyone giving out your details to a third party.

they may (probably will) reject your offer but keep paying it every month. keep records as if it does go to court you have proof of income / outgoings.

moonlightpjs

They said there is no charge but it is a charity so if we could afford to make any donation )however small) then they would appreciate it but it wasn't needed in order to do a DMP.

If we do do a self admin DMP then won't the creditors know that it isn't going through CCCS as the money wont be paid by them but by us.

Payplan have sent us all the letters, income and expenditure and creditors lists though.

Nicky_3

Payplan deal with all DCA, so it doesn't matter if your debt is with them or the original creditor.

Just out of interest, how did you feel when MyVesta asked for a donation? Did you feel obliged at all?

moonlightpjs

Yes, a bit.

Payplan said they couldn't do a DMP as one of the DCA's wouldn't deal with them, maybe it be worth ringing them again.

Nicky_3

Yeh, because that doesn't make sense. Creditors cannot refuse to deal with a third party unless there is a very good reason (which there wont be in this case), as this goes against the Office of Fair Trading Guidelines.

Some wires have been crossed somewhere.

thefoolonthehill

nicky is probably right and paypal would deal with anyone.

if you do it your self you just advise them that you are in a self adminsitered dmp with cccs.

at the end of the day you are trying to reduce your debt. the dca's probably wont like receiving less than they want but they will always accept what you give them.

advise them you will not deal with them over the phone and keep copies of all correspondence you send and what is sent to you

moonlightpjs

Have checked with Paypal and they confirmed that they don't deal with this particular DCA so can't do a DMP for us. Does anybody else think this is strange?

madduck

There have been a couple of other posters who have said the same, can't remember which DCA it is, but there does seem to be one (or perhaps a couple) with whom there seems to be an issue.

Your other option is approaching CCCS. Whichever DCA it is, they don't seem to have an issue with CCCS.

moonlightpjs

I know the CCCS are great but we did have a DMP with them but as my husband was ill for over a year we were living off an overdraft and when hubby went back to work we called them and asked to have OD added to plan. They said no and cancelled the plan and despite much pleading and tears refused to reinstate it. To do a DMP with another DMP company is an
option we would really prefer as I feel I could not manage a self admin one, hence the question about Myvestor which I saw just mentioned in another thread. I would just like to know if they are a reputable company etc. I would prefer not to go down the route of GP and the like.

Any suggestions/advice/information much apprecaited.

thefoolonthehill

thought i would bump this on behalf of op.

think the dca must be a bunch of sheisters if pay plan dont deal with them.

Q. would it therefore be possible to have a dmp with pay plan but leave this debt out?

give cccs a call and see what they say about starting with them again - nothing ventured nothing gained