DMP & Mutual Support Thread - Part 8

Bettingmad

BlushingRose wrote: »

Here we go - be *kind*

This is the CCCS approved SOA -

Mortgage - £662
Water - £20
Council Tax - £87 - Paid over 12 months
Gas - 23
Electricity - £27 - Gas and Elect tied into a 5 year deal
Building & Contents Insurance - £30
Telephone inc Internet - £50 - tied to one service provider, cannot switch
TV license - £14
Life Insurance - £81
Car servicing/spares - £15
Road Tax - £10
Car insurance - £20
Fuel & Parking - £80
Groceries inc cleaning products and toiletries - £280
Pet costs - £20
Clothing/footwear - £20
Profession/Union fee - £31
Medicines/prescriptions - £10
Dentist/opticians - £10
Newspapers/Mags - £20
Entertainment - £20 - although we don't actually do anything or go anywhere.

Total expenses = £1530
Total Income = £1994

Difference handed over to CCCS £464

You are far too close to the bone with these figures, they allow you no room for manouvre. You are in it for the long haul and the figures you have allowed will make it difficult for you every month.

The obvious one is no emergency contingncy fund, your vehicle servicing and repairs are on the low side, your clothing budget can be increased. There is nothing for hair dressing unless I am missing something.

I am aware that you have rushed into the process, although admirable on the part of Mr BR of wanting to start making full payments as soon as possible however you have no margin of error as things stand.

Sorry if I am sound harsh but you have to take a step back to look at the overall picture. You have a long road ahead just as I do but you want to make it achievable and as comfortable as you can.IMHO your available debt repayment figure could be at least £64 lower per month. Yes it will take longer but you never know what's around the corner when things can take a turn for the better;) Above all be positive you are now in control not the creditors.

circusgirl

Hello everyone :wave:

Well I've had my LBM and completed the debt remedy section of the cccs website. I posted details of creditors and such like to the cccs yesterday and am here to join you!

Today I received a letter from one of my creditors AMEX saying that they had passed my details to a dca. They didn't name them but just said that they would be in contact with me. I also received a phone call (answerphone message) from RMA Resolve asking me to contact them urgently. A quick google threw up some horror stories about RMA :eek: and I'm not sure what to do next.

I will need to let the CCCS know that AMEX have passed on the debt, but should I also phone RMA back?

This thread has been really useful for me so far, its really reassuring to hear from those who are experts in the whole dmp process and also nice to read about others just starting out - thanks everyone :beer:


ETA - I've set up a new username for my dmp journey, but am an mse oldie!!!

BevieB

Wannabefree1 wrote: »

Halifax are continuing to apply interest to ours at a reduced 19%. An waiting for the first statement and going to see how long that adds on to my DMP with them and use as a basis for a complaint.

Have you managed to get them to back down before?

We started DMP Oct 2011, prior to this we had a special rate which ceased when DMP commenced as we paid late as CCCS pay on 25th of month. This resulted in them reverting us back to normal APR. I complained and managed to get them to refund all interest and charges they also charged no interest for next 2 statements.
The rate of interest they are charging is currently higher that our rate prior to DMP. I will def send to FOS if they do not drop interest rate. They are our largest creditor (26K) so although all others have reduced to zero or very low interest Halifax actions will mean we will be on a DMP for a very long time.

circusgirl

ianmak wrote: »

Without further ado, here is.....*drumroll*....... the latest member numbers!!!!!!!! :j

BlushingRose 424
sickasachip13 425
tintingirl 426
Joyanne 427
PinotGrigio41 428
ailz95 429

Please keep in touch people!

Could I have a number please

Bettingmad

circusgirl wrote: »

Hello everyone :wave:

Well I've had my LBM and completed the debt remedy section of the cccs website. I posted details of creditors and such like to the cccs yesterday and am here to join you!

Today I received a letter from one of my creditors AMEX saying that they had passed my details to a dca. They didn't name them but just said that they would be in contact with me. I also received a phone call (answerphone message) from RMA Resolve asking me to contact them urgently. A quick google threw up some horror stories about RMA :eek: and I'm not sure what to do next.

I will need to let the CCCS know that AMEX have passed on the debt, but should I also phone RMA back?

This thread has been really useful for me so far, its really reassuring to hear from those who are experts in the whole dmp process and also nice to read about others just starting out - thanks everyone :beer:


ETA - I've set up a new username for my dmp journey, but am an mse oldie!!!

Re phoning them up, do you feel strong enough as others say they are not and in this scenario I would not phone them and just inform CCCS and send letter below. If you feel able to I would phone them up and tell them politely that you are with CCCS, provide them with the CCCS client Ref no. and inform them to deal directly with them,put the phone down then send a letter like this

[FONT=&quot]Address here[/FONT]

[FONT=&quot] [/FONT]

[FONT=&quot] [/FONT]

[FONT=&quot] [/FONT]

[FONT=&quot] [/FONT]

[FONT=&quot]17th January 2012[/FONT]

[FONT=&quot] [/FONT]
[FONT=&quot]The Loan Company[/FONT]
[FONT=&quot]Company House,[/FONT]
[FONT=&quot]Church Street,[/FONT]
[FONT=&quot]Newtown,[/FONT]
[FONT=&quot]Kent,[/FONT]
[FONT=&quot]R1 7HG[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Dear Sir/Madam[/FONT]
[FONT=&quot] [/FONT]

[FONT=&quot]Re:- Account/Reference ************************[/FONT]

[FONT=&quot] [/FONT]

[FONT=&quot]We are writing to inform you that we are seeking advice and assistance from CCCS regarding our current financial difficulties. CCCS Ref. No. *********[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]To this end, we would appreciate if you could hold any action on the above account for a period of at least 30 days to allow for a solution to be sought from CCCS.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Also, during this period, I ask that you freeze interest and/or any other charges accruing on the above account?[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]In view of our circumstances, would you please accept a token offer of £*** towards this month’s payment.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]The above request is asked as per guidance issued by the Lending Code 2011, the relevant extracts are listed below.[/FONT]
[FONT=&quot] [/FONT]
Breathing space for personal customers
201. a customer can demonstrate to a subscriber that they are making a genuine effort to develop a repayment plan, using either a debt advice agency or a self-help tool the subscriber should suspend collections activity related to the customer’s current account, credit card and/or unsecured personal loan while discussions continue, for a period of 30 days.
202.The subscriber should confirm with the customer and/or their adviser that collections calls and letters will be suspended during the ‘breathing space’ period (except where required under Consumer Credit legislation) and should discuss with the customer and/or their adviser how the account will continue to operate during the 30 day period.

203.Where the customer and/or their adviser provides clear evidence of demonstrable progress being made in developing a genuine repayment plan, but work has not yet concluded, subscribers should extend the breathing space for up to an additional 30 days.



Interest and charges concessions

224.Subscribers should consider reducing or stopping interest and charges when a customer evidences that they are in financial difficulties. Such reduction/suspension decision should be based upon an income and expenditure statement indicating that they are unable to make repayments sufficient to meet contractual terms. Where a customer is able to make only token payments, their debt should not increase as a result of interest and charges levied. The assessment should reflect the customer’s lack of ability to pay rather than the stage an account has reached in the arrears cycle or whether they are using free sources of debt advice. Where a firm declines to allow concessions, they should be prepared to explain why to the customer or their adviser if requested to do so.

[FONT=&quot] [/FONT]
[FONT=&quot]We hope you will act in a sympathetic way due to our financial difficulties and again ask that you will consider taking no further action on the account for 30 days and suspend interest and charges in line with the lending code.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]We further ask that the enclosed postal order is only cashed by yourselves if you are in agreement with our current proposals[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]We look forward to hearing from you as soon as possible.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Yours faithfully[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Mr A[/FONT][FONT=&quot][/FONT]

BlushingRose

Thanks folks,
We've had a chat this evening, and we've come to an agreement of sorts.
Mr BR wants to give it a go and see how we get on over a few months, I've agreed to this but have said that if we're still having issues in a couple more months, then we need to ring the CCCS and get the amount changed. I've said that the sooner we do this the better as then the creditors will get used to the new amount and things will settle down again.
We'll be sitting down and actually thinking about a budget for the next month too, which might help.

CommitedToChange

Hi all

Sorry to ask a question and run but I'm doing mad hours this week and don't have a lot of time at the moment. Will be back at the weekend to catch up and comment

I sent a F&F letter to a creditor and got this response today - does this work, is partially satisfied what I'm after?


Thank you for your letter. We are receiving regular payments from your Deb Management Company, can you confirm if you are no longer dealing with them.
If this is the case, I can accept a settlement of £100.00. However although we would close your account at that point, legally we have to mark your account
as 'partially satisfied'.


I'm still with my debt management company just thought I'd try a F&F on my smaller debts as I have some money saved. What do people think.

Many thanks

CTC

BlushingRose

Wannabefree1 wrote: »

That might be the 25th! See my post in the main board about the way co-op order their statements. I'm waiting fir a reply to see if I've got my wires crossed or not!

I've been looking for your thread but can't find it

Mr BR's pay actually goes in at midnight on the 23rd, so it should be in the bank for the 24th?...*hopes so*

Bettingmad

CommitedToChange wrote: »

Hi all

Sorry to ask a question and run but I'm doing mad hours this week and don't have a lot of time at the moment. Will be back at the weekend to catch up and comment

I sent a F&F letter to a creditor and got this response today - does this work, is partially satisfied what I'm after?


Thank you for your letter. We are receiving regular payments from your Deb Management Company, can you confirm if you are no longer dealing with them.
If this is the case, I can accept a settlement of £100.00. However although we would close your account at that point, legally we have to mark your account
as 'partially satisfied'.


I'm still with my debt management company just thought I'd try a F&F on my smaller debts as I have some money saved. What do people think.

Many thanks

CTC

First things first does the DCA own the debt or are they acting on behalf of the original creditor?
If they actually own the debt you need them to acknowledge that payment is made as a final payment in settlement of the account and neither they nor any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that you will be released from any liability and the account closed.
You can try again in asking them to mark the debt as satisfied however they are within their rights to mark your file as partially satisfied.

CommitedToChange

Bettingmad wrote: »

First things first does the DCA own the debt or are they acting on behalf of the original creditor?
If they actually own the debt you need them to acknowledge that payment is made as a final payment in settlement of the account and neither they nor any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that you will be released from any liability and the account closed.
You can try again in asking them to mark the debt as satisfied however they are within their rights to mark your file as partially satisfied.

Thanks

They're in house DCA for payday uk I will contact them asking for them to put that (in blue) in writing, if partially satisfied means it's closed I don't mind as I will be on a DMP for at least 6 years so it will drop off my credit file by the time I'm finished. That's the only difference isn't it.

What do they mean by the DMP comment - do you think they will reject the F&F if I say I'm still with CCCS?

EDIT:

I've written this and hope it works by just ignoring the DMP comment :


I am happy to have my account marked as 'Partially satisfied'. However I would need in writing that "This payment is made as a final payment in settlement of the account and neither Keyes Whitlock & Company nor any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that I will be released from any liability and the account closed. And that you will make an entry on a credit reference agency file relating to the account as having been paid (or partially satisfied) and the account closed. "

If this is agreeable to yourselves please can you confirm this in writing along with the details of who I make the cheque payable to.