DMP & Mutual Support Thread - Part 8

Time_to_face_the_music

phartypantz wrote: »

Thanks. I've gone from initial relief and happiness after the phone call with GP to feeling sick reading the reviews about them, and now worrying whether Payplan are gonna come at me with something I can't afford.i
It's amazing how much money they say u have left over to pay towards debt!? Do I? Lol, I'll learn. This thread is very helpful and supportive and I am grateful for ur replies. Lisa

Hi phartypantz :hello:

Now there's a name to make me giggle :rotfl:

Have you tried the CCCS online debt remedy? You can check out your budget and get an idea of the limits they apply to your spending

https://debtremedy.cccs.co.uk/start.aspx

Whatever happens you are definitely better off than with a fee paying company. You only have to read dlb's post to see that

toots1607

Hi

I havent been on for a while everything ticking along nicely. Yesterday I got a email from CCCS saying that my biggest debt has contacted them saying that the debt is now "Zero". Has anyone else has this happen to them , by the way it is with "LLOYDS CC".

Thanks all .

nottoolate

maybe lloyds have sold it on

Time_to_face_the_music

toots1607 wrote: »

Hi

I havent been on for a while everything ticking along nicely. Yesterday I got a email from CCCS saying that my biggest debt has contacted them saying that the debt is now "Zero". Has anyone else has this happen to them , by the way it is with "LLOYDS CC".

Thanks all .

Hi toots1607 :hello:

It hasn't happened to me but I wish it would

Have you tried asking CCCS for some more details?

wanna-be-mortgage-free_2

Just thought I would contribute to the current debate.

CCCS and Payplan are both great at what they do which is being a middleman for those wanting to enter a DMP. But they don't 'negotiate' on your behalf with your creditors. They send a letter to them advising it would be mutually beneficial if interest were stopped and that you'll be entering a payment plan. Creditors are not obliged to stop or reduce interest payments as we have broken our original agreement.

Why do creditors stop some interest and not others? Who the heck knows, for each individual person there is an individual way they deal with the debt. :mad: There are no hard or fast rules.

I guess if you are happy with CCCS or Payplan then of course you will stick with them but I would say that if you don't get your interest stopped then you need to consider your options because you could get to near the end of your dmp only to realise you still have a way to go because interest wasn't stopped.

I am going to be self managing but need to see which creditors stop interest first

Good luck everyone whichever way you choose.

sickasachip13

The % thing really is a conundrum. We're with CCCS, at the outset we had 19 creditors.17 stopped % pretty much straight away. One still charged full % and one charged nominal. We wrote a couple of letters to the one charging full % and they dropped it to nominal. I see this as a really good outcome tbh, and I know others haven't been so lucky. We're about 20 months in and % situation stays the same.

Whether it would've been different with another organisation, we'll never know. But I feel fairly sure we, on our own, wouldn't have had such a positive outcome. I feel like the DMP is the process that CCCS have helped us put in place and maintain, but that we have responsibility to manage it and, also, if we feel like it, bother the creditors where necessary.

But, it's horses for courses. Gotta find what's right for you.

SAAC

ETA: If our circumstances did change - in that our income went up - I would consider going alone on the DMP but would worry about creditor reaction to this.

Hopelessly_Hopeful

M&S are charging me 26%, which means overall 17% of my payment every month goes in interest. !!!

HHx

sickasachip13

Hopelessly_Hopeful wrote: »

M&S are charging me 26%, which means overall 17% of my payment every month goes in interest. !!!

HHx

That sucks :-(

Can the financial ombudsman do anything about it (I'm not sure how this stuff works)

ben80

Call them and say you're in financial hardship. I did and they put interest at 0 for 3 years. It's gone back up now, but I owe less then £100 on that card, so it's not an issue.

Hopelessly_Hopeful

Exactly which is why I say what am I paying the money for. Creditors still charging interest and giving a % of the whole payment to the company does NOT constitute free advice, just a different way of showing it!


When I called them recently to say a creditor said they hadnt received money I was told they cant make any calls out becasuse they are a charity!

Been to FOS, M&S say I am no longer in difficulty now am 2 years into the plan so tough,have gone back to FOS, grrrrrr

HHx