DMP - What if Creditors say NO?

giddykipper

What happens if some of your creditors don't agree to your dmp?

Do you have to pay them the full minimum each month or do you pay them less but they still keep adding interest or do they start court proceedings or what?

Anybody ever had any problems with RBS?

I have an overdrawn current account with them, a loan and a cc!!!

I'm thinking they're not going to be too sympathetic!

Thanks

Jo x

artic_fox_2

when my creditors said no i kept paying them the amount i wanted to pay they kept adding interest untill they sent the debt off to the next creditor

LittleL_4

I think what happens is that CCCS just continue paying them the stated amount and eventually they accept. If they're unhappy then they will pass your debt on to a DCA etc..

Sorry it's a bit brief but i think that's the general process
L
x

carriel_2

RBS were so good with us, when we started our DMP we got calls & letters etc from everyone except from them.

We only had a CC with them though, they accepted our first offer straight away & we've not heard anything from them since, all interest is frozen & we get a monthly statement showing the amount we owe going down.

I really hope you have a positive experience with them too.

giddykipper

Thanks for your replies ...... and I'm sorry but I have another question.

What happens if some credit is in joint names?

We're in the middle of a split at the moment but he has less money than I do as he's self employed and really struggling at the mo.

Our RBS overdrawn bank account is in joint names but not the loan or the CC (they're solely in my name).

I do have a loan with Northern Rock and when I first took this out they wanted his wage details (he was employed at the time) but I don't think he signed anything - I'm sure it was just in my name.

What happens in these cases - does anyone know?

livinginhope

Hi GK,will you be doing your DMP as a joint DMP? some of our debt is joint,other debts are in each of our names only,Payplan,or CCCS in your case will just make an offer for that account be it joint or single.
Try not to worry about creditors refusing offers,2 of ours,Lloyds and Egg,have refused our offers for nearly a year,the interest was frozen at the start and I never hear from them,but they haven't accepted.
Good luck.
LIH

giddykipper

Thanks everyone for your replies - I'll be doing the dmp on my own as hubby will be moving out soon ....... and the debt was mine to start with, he's been the one bailing me out!

I've just checked and there's only the bank account that's in joint names - Northern Rock have confirmed that the loan account is in my name only - a loan that I got out to pay off cc's I'd been spending on for years!!

God its scary how it snowballs so easily isn't it!!

Jo x

bank_of_slate

Check out all the facts with CCCS or Payplan,
At the moment you're worrying about all the what if's and maybes and they haven't even happened yet.
There will be an answer
Good luck,
...Linda xx

giddykipper

You're absolutely right - I am!!

Just waiting for my financial assessment with payplan tomorrow - so I've now put a list of questions together to fire at them.

I am just sooo desperate to get this mess sorted out!

Thanks again everyone - this site is fantastic - there's sooo much information, advice and support - its great!

Jo x