DMP & Mutual Support Thread - Part 8

Ellieseleven

Murph, my DFD was way off in the future to start with but now nearly 2 years in after upping it a few times, it looks a bit more realistic and doesn't feel as hopeless as it did originally. I don't know where 2 years has gone to be honest and it's great to see the total figure coming down now rather than going up and up;)

helpwithdebt

Hi,
I've got all of the letters/postal orders prepared ready to send to my creditors, is there a certain address I need to send these to or do I just send them to their usual address?
Thanks

Growurown

925pws wrote: »

To be honest I have gone past the point of caring at the moment, like I said I can't pay any more than what CCCS are taking and even that will probably reduce once redundancy hits or even if I get another job it will not be on the same salary. At the end of the day my health and my family have to come first. Please don't think I'm being flippant - I'm not, I will pay back everything I have borrowed, it will just take me a bit longer and at a reduced rate. Although with the number of months that CCCS quoted me I'll be a pensioner :rotfl::rotfl::rotfl:

Yes I get that past caring feeling too:D

No it doesn't mean you don't want to deal with your debts, I think it just means that you've got to the end of the line and there is nowhere else to go so you stop worrying.

Phoned CCCS today and it was as much as I thought. I can't reduce payment to Halifax in the hopes they will stop charging as it would be unfair to my other creditors.

My NatWest loan has been passed onto Moorcroft and my MBNA Virgin CC to Aktiv Kapital. I only have 2 more car HP payments to make and then I will have another £270 a month to pay towards my debts:j

Growurown

helpwithdebt wrote: »

Hi,
I've got all of the letters/postal orders prepared ready to send to my creditors, is there a certain address I need to send these to or do I just send them to their usual address?
Thanks

My guess would be to send them to the usual address payments go to. I paid mine over the counter at the bank with cash.

ravens72

Just had a statement through from HALIFAX BANK and they have hiked up the apr from 6.9 to 11.9APR. I owe around £8400 so out of the £110 I pay them each month £74 is going on the interest. I'm currently on a DMP with the CCCS(have been since January). I'm thinking whatsw the point of paying this off when nearly all of it is going on interest - I'm very angry.

All in all I have around 38K worth of debt (nearly all of the debt was built up from my wife who is currently suffering from depression), I think that maybe the best option for me is to go on a IVA? What does anyone else think? Right now because of interest its going to take me a lot longer to pay the whole debt off. I'd just like to say the Bank of Scotland and Halifax banks have been no help whatsoever and have not at all been sympahtic to my struggle, right now I'm livid with them, seeing as I didn't acutally borrow a single penny from them in the first place, as mentioned my wife got the credit in my name without my consent and now I'm paying the price!! I go to work every day to keep these B$%stads in the banks in work!!! I hate them. I'm just another number to them and thats what really hurts. They don't think about the human side of things!!

Daisypop

Hi

Am new on here so hope posting in the right place!! Anyone had any dealings with first direct? I am on a dmp and they have accepted the repayment figure but want a signed credit agreement. CCCS have said not to sign so I havent, anyone else had this with them and what did they do?

Hopelessly_Hopeful

Daisypop wrote: »

Hi

Am new on here so hope posting in the right place!! Anyone had any dealings with first direct? I am on a dmp and they have accepted the repayment figure but want a signed credit agreement. CCCS have said not to sign so I havent, anyone else had this with them and what did they do?

Welcome Daisypop.

FD did the same with me, they said it was OK as it was not taking on new credit. Have since been told CCCS wouldn't agree to it had I asked them first. Oooppps.

One thing I am uneasy about on the DMP is that creditors change their mind, lure you in and then some of them put the interest rates up.

Grrr, personally I think the CCA is a way forward. That way the bank has the assurance you are going to pay it and not claim UE and we have the assurance we know what the interest rate is for the remainder of the debt. Just fair and transparent.

HHx

Hopelessly_Hopeful

ravens72 wrote: »

Just had a statement through from HALIFAX BANK and they have hiked up the apr from 6.9 to 11.9APR. I owe around £8400 so out of the £110 I pay them each month £74 is going on the interest. I'm currently on a DMP with the CCCS(have been since January). I'm thinking whatsw the point of paying this off when nearly all of it is going on interest - I'm very angry.

All in all I have around 38K worth of debt (nearly all of the debt was built up from my wife who is currently suffering from depression), I think that maybe the best option for me is to go on a IVA? What does anyone else think? Right now because of interest its going to take me a lot longer to pay the whole debt off. I'd just like to say the Bank of Scotland and Halifax banks have been no help whatsoever and have not at all been sympahtic to my struggle, right now I'm livid with them, seeing as I didn't acutally borrow a single penny from them in the first place, as mentioned my wife got the credit in my name without my consent and now I'm paying the price!! I go to work every day to keep these B$%stads in the banks in work!!! I hate them. I'm just another number to them and thats what really hurts. They don't think about the human side of things!!

Totally appreciate where you are coming from

I'd say report them to the FOS.

HHx

Growurown

ravens72 wrote: »

Just had a statement through from HALIFAX BANK and they have hiked up the apr from 6.9 to 11.9APR. I owe around £8400 so out of the £110 I pay them each month £74 is going on the interest. I'm currently on a DMP with the CCCS(have been since January). I'm thinking whatsw the point of paying this off when nearly all of it is going on interest - I'm very angry.

All in all I have around 38K worth of debt (nearly all of the debt was built up from my wife who is currently suffering from depression), I think that maybe the best option for me is to go on a IVA? What does anyone else think? Right now because of interest its going to take me a lot longer to pay the whole debt off. I'd just like to say the Bank of Scotland and Halifax banks have been no help whatsoever and have not at all been sympahtic to my struggle, right now I'm livid with them, seeing as I didn't acutally borrow a single penny from them in the first place, as mentioned my wife got the credit in my name without my consent and now I'm paying the price!! I go to work every day to keep these B$%stads in the banks in work!!! I hate them. I'm just another number to them and thats what really hurts. They don't think about the human side of things!!

Hellifax have been our worst creditor too, so you have my sympathy! As HH said you could try the FOS.

925pws

Well just had a letter from Halifax. In the first line they say they agree to the payment plan, in the second line they say they can't agree to it as there was recent activity on the account. They don't state if it's the current account, cc or loan.

To hell with them, they are getting a pro rata payment from CCCS and they can either like it or lump it. The way us taxpayers have to lump the fact that our taxes went to bail the blooming banks out.

I'm not even going to worry myself replying to such a badly worded and confusing letter.

Today is my first no spend day of June so I'm over the moon and I'm about to transfer a few quid to my savings. :T I'm not going to overpay any of the creditors until they confirm acceptance and stop interest. This should be a very interesting wait :cool: