DMP & Mutual Support Thread - Part 8

2spicy

Waiting for an update on this .... ooo its exciting stuff.
We havnt pitched in as youve been given some excellent advice there. Just remember ... it will be rough for a few weeks, but there is a light and its debt freedom (not a train). These days, as ide from the odd statement or settlement letter, we never hear from our creditors.
If the DMP takes 6 years ... its done and paid in full.

Welcome to the Board ...

typhoo_2

Hi all,

I haven't posted on here in a while but just had skim and wanted to let everyone know who is about to start a DMP that it is actually the best way to tackle your debt and things get so much easier. You realise that you are actually in control of finances and can actually sleep better as well as notice some savings on the side building up!

My update:

I started a DMP in Jan with CCCS. All creditors accepted except NatWest, they kept rejecting payments from CCCS stating my details were not recognised. They continued to pile on interest.

I have been writing to NatWest since Jan to sort out the issues and for them to accept a payment plan which is logical and affordable. They have been utterly useless and completely unhelpful. I complained to them in February, they sent a letter to me saying they were investigating my complaint and will send a full detailed response by 30 March. 30 March came and they sent a letter saying 30 April. 30 April came and they sent a letter saying 30 May. 30 May came.... you guessed it.... they sent a letter saying they are still investigating and will send a letter by 30 June!!!

I have just sent a complaint to the Financial Ombudsmen with a copy of their letters and my letters. NatWest have been a total joke in this process, not accepting my payments even though all details are correct, continuing to charge interest and charges even though I have written numerous times saying my debt is only going higher and it is against the lending code etc.

Does anyone have any experience with the FO or know what may happen next?

Cheers and have a good day all!

Growurown

typhoo wrote: »

I have just sent a complaint to the Financial Ombudsmen with a copy of their letters and my letters. NatWest have been a total joke in this process, not accepting my payments even though all details are correct, continuing to charge interest and charges even though I have written numerous times saying my debt is only going higher and it is against the lending code etc.

Hi Typhoo, gosh what a mess:eek:

Haven't had any experience with the FO so can't help on that front. I have a NatWest CC and a loan. The CC was OK they stopped interest on that and the loan was a bit more tricky. They wanted us to increase our offer because we didn't meet the 'trigger' whatever that is. Anyway we took some money from our smoking fund (for this read rainy day fund as we don't smoke) upped the offer a bit and they agreed. We got charges in the first few months but they have stopped now.

Can I ask what form of credit do you have with NW? CC, loan or overdraft?

Time_to_face_the_music

typhoo wrote: »

Hi all,

I haven't posted on here in a while but just had skim and wanted to let everyone know who is about to start a DMP that it is actually the best way to tackle your debt and things get so much easier. You realise that you are actually in control of finances and can actually sleep better as well as notice some savings on the side building up!

My update:

I started a DMP in Jan with CCCS. All creditors accepted except NatWest, they kept rejecting payments from CCCS stating my details were not recognised. They continued to pile on interest.

I have been writing to NatWest since Jan to sort out the issues and for them to accept a payment plan which is logical and affordable. They have been utterly useless and completely unhelpful. I complained to them in February, they sent a letter to me saying they were investigating my complaint and will send a full detailed response by 30 March. 30 March came and they sent a letter saying 30 April. 30 April came and they sent a letter saying 30 May. 30 May came.... you guessed it.... they sent a letter saying they are still investigating and will send a letter by 30 June!!!

I have just sent a complaint to the Financial Ombudsmen with a copy of their letters and my letters. NatWest have been a total joke in this process, not accepting my payments even though all details are correct, continuing to charge interest and charges even though I have written numerous times saying my debt is only going higher and it is against the lending code etc.

Does anyone have any experience with the FO or know what may happen next?

Cheers and have a good day all!

Hi typhoo :wave:

What is happening to the NatWest payments, are they being returned to CCCS?

NatWest refused our DMP too for an OD but they have accepted all the payments and credited them to the account. The reason they cited was that they were not receiving a fair portion based on our SOA and our monthly payment. I have all of this on a spreadsheet in addition to the CCCS website and when I worked it out, they are actually receiving 2% more than they should!

Like you, they continued to add charges and also a £6 per day fee for being over the OD limit, so we made a complaint. It took months for them to answer but when they did, they refunded 2 months interest and gave us £50 as compensation for their late response. However they intend to start charging interest again this month and as soon as they do, we will contact the FOS.

NatWest's last letter to us was a load of nonsense and contradicted itself in every other sentence, in addition to being full of spelling and grammar mistakes. They claimed we did not have a payment plan in place so they could not stop interest, then went on to thank us for our payments via our payment plan!

The FOS have helped us recently by having Lloyds TSB stop interest on another OD so I have great faith in them. Please let us know how you get on.

typhoo_2

Growurown wrote: »

Can I ask what form of credit do you have with NW? CC, loan or overdraft?

All three!
The loan and overdraft they keep saying 'account details unrecognised' when they are totally accurate. They also have done nothing to resolve the situation and I've been writing since January!

The credit card, they have not frozen interest and apply more interest than what I pay to them and hence the debt is rising. It has pushed me over the credit limit which has has resulted in charges!

typhoo_2

Time_to_face_the_music wrote: »

Hi typhoo :wave:

What is happening to the NatWest payments, are they being returned to CCCS?

NatWest refused our DMP too for an OD but they have accepted all the payments and credited them to the account. The reason they cited was that they were not receiving a fair portion based on our SOA and our monthly payment. I have all of this on a spreadsheet in addition to the CCCS website and when I worked it out, they are actually receiving 2% more than they should!

Like you, they continued to add charges and also a £6 per day fee for being over the OD limit, so we made a complaint. It took months for them to answer but when they did, they refunded 2 months interest and gave us £50 as compensation for their late response. However they intend to start charging interest again this month and as soon as they do, we will contact the FOS.

NatWest's last letter to us was a load of nonsense and contradicted itself in every other sentence, in addition to being full of spelling and grammar mistakes. They claimed we did not have a payment plan in place so they could not stop interest, then went on to thank us for our payments via our payment plan!

The FOS have helped us recently by having Lloyds TSB stop interest on another OD so I have great faith in them. Please let us know how you get on.

Thanks for this! The payments have been returned and then re-distributed to other creditors as CCCS have lost patience with NatWest.

whattodo1967

Hi
Hope you dont mind me joining your thread.
Well have taken the plunge and and 1st payment goes to CCCS on 10th.

Have already had 3 creditors accept plan, but one today is threatening court action, so this has worried me a bit.

Hopefully its just the standard scary letter you hear about on here all the time.

I dont care what they do to me, but as anyone who has read my previous thread, I just dont want my Husband to have to much hassle.
He has been great about it all and is totally on board.

I would also like to thank you all for giving me the courage to finally do something about the debt, and to those who sent me pm's.

Will let you know how Im getting on.

Thanks again

dfwsometimesoon

Helpppppp... I have 3 loans with the same company... entering DMP with payplan... cancelled direct debits and have made £10 token payments to each also advised of DMP,have had no acknowledgment of this.

Have today received 3 letters advising of £30 charge on each for cancelling direct debit... now 2 loan payments are not yet due until end of this month so are fully up to date... so this £30 charge is for cancelling DD alone!! they have also stated on each letter that a provision of lending was that payment was made only by Direct Debit and should this not be reinstated by the next due date payment will be due in full :eek::eek: is this standard or should I be hugely worried ( as i am!!!)

2spicy

Well, what a turn up ... Just recieved an email asking me to contact one of my creditors ... So, I call and they basically say that they are willing to work out a "deal" and give a special discount if we pake our payments to them direct rather than through our DMP company.... Now, call me sceptical, but this seems too good to be true. Ive emailed the DMP company to ask their advice and the creditor is calling me back later this week.

Has anyone else had anything like this ?

925pws

2spicy wrote: »

Well, what a turn up ... Just recieved an email asking me to contact one of my creditors ... So, I call and they basically say that they are willing to work out a "deal" and give a special discount if we pake our payments to them direct rather than through our DMP company.... Now, call me sceptical, but this seems too good to be true. Ive emailed the DMP company to ask their advice and the creditor is calling me back later this week.

Has anyone else had anything like this ?

Is the debt still with your original lender or moved to a DCA? Are they offering you a F&F settlement? Whatever they are offering get it in writing. A decent F&F should be between 10-15% of original debt.

Remember, get whatever offer it is in writing!