DMP & Mutual Support Thread - Part 8

Giraffeseeker

OK, letter from MBNA today re Virgin CC.

Thanked me for telling them about financial difficulties. Agreed I could not meet minimum payment and accepted reduced payment - all good.

Said that they would reduce my interst to 3.9% and waive all future charges (would rather it was 0%).

THEN went onto say my payment due on 6th Jan was late and I must pay immediately, followed by another payment on Feb 6th :mad:

I have paid a token payment this month and have no intention of paying any more, and my first payment to CCCS is Feb, meaning they'll not get any money until 25th Feb.

So, what should I do - write to them? Call them? Is it worth trying to get them down to 0% or is 3.9% pretty good?

It's an £8K debt and they are being offered just under £150pcm, so not a bad deal for them really.

Hopelessly_Hopeful

tintingirl wrote: »

OK, letter from MBNA today re Virgin CC.

Thanked me for telling them about financial difficulties. Agreed I could not meet minimum payment and accepted reduced payment - all good.

Said that they would reduce my interst to 3.9% and waive all future charges (would rather it was 0%).

THEN went onto say my payment due on 6th Jan was late and I must pay immediately, followed by another payment on Feb 6th :mad:

I have paid a token payment this month and have no intention of paying any more, and my first payment to CCCS is Feb, meaning they'll not get any money until 25th Feb.

So, what should I do - write to them? Call them? Is it worth trying to get them down to 0% or is 3.9% pretty good?

It's an £8K debt and they are being offered just under £150pcm, so not a bad deal for them really.

Id say always write so you have a trail

HHx

BevieB

tintingirl wrote: »

OK, letter from MBNA today re Virgin CC.

Thanked me for telling them about financial difficulties. Agreed I could not meet minimum payment and accepted reduced payment - all good.

Said that they would reduce my interst to 3.9% and waive all future charges (would rather it was 0%).

THEN went onto say my payment due on 6th Jan was late and I must pay immediately, followed by another payment on Feb 6th :mad:

I have paid a token payment this month and have no intention of paying any more, and my first payment to CCCS is Feb, meaning they'll not get any money until 25th Feb.

So, what should I do - write to them? Call them? Is it worth trying to get them down to 0% or is 3.9% pretty good?

It's an £8K debt and they are being offered just under £150pcm, so not a bad deal for them really.

My statements always show that I am paying late/arrears as they track the normal contractual arrangements. Only a few have mentioned a repayment plan. So you may find that they will all say you are paying late as they are computer generated letters!! Best to ring and confirm if you are worried

nicki342001

Hi

Starting my DMP 1st February, after months and months of being broke. Feel a little bit better, but have not yet been chased by anyone as first payments wont be due until end of Jan. Do you think I should be sending then a small payment as they will not get any money from CCCS until the 25th Feb.

Debt free date estimated to be Jan 2018......
Will I be chased at work?
Dont know what to expect
Any advise greatfully received.

Hopelessly_Hopeful

nicki342001 wrote: »

Hi

Starting my DMP 1st February, after months and months of being broke. Feel a little bit better, but have not yet been chased by anyone as first payments wont be due until end of Jan. Do you think I should be sending then a small payment as they will not get any money from CCCS until the 25th Feb.

Debt free date estimated to be Jan 2018......
Will I be chased at work?
Dont know what to expect
Any advise greatfully received.

Welcome

Theres a template, drop them a line and tell them in writting only. If they call tell them or just put the phone down. Then write to let them know and tell them or just complain for harrassment to FOS.

I used to dread them calling me, now on the off chance they call they can't wait to put the phone down on me, my how the worms turn!!!!!

Good luck

HHx

typhoo_2

nicki342001 wrote: »

Hi

Starting my DMP 1st February, after months and months of being broke. Feel a little bit better, but have not yet been chased by anyone as first payments wont be due until end of Jan. Do you think I should be sending then a small payment as they will not get any money from CCCS until the 25th Feb.

Debt free date estimated to be Jan 2018......
Will I be chased at work?
Dont know what to expect
Any advise greatfully received.

Hey, good luck. We're both starting on the same day and finish roughly same time too!

Daniel_home

Getting evreything in place new bank account with co-op hopping mine and the wifes salary get paid into it from Febuary,we have debt with are current bank.

If my salary or my wifes do get paid into the old account will we have problems transfering that out to the new bank account

we have loans that also come out eary in Feb will we be able to cancel the direct debits or will the bank try to stop are account

all very scary but cant wait to get started

thanks

pumpkinsoup

Daniel_home wrote: »

Getting evreything in place new bank account with co-op hopping mine and the wifes salary get paid into it from Febuary,we have debt with are current bank.

If my salary or my wifes do get paid into the old account will we have problems transfering that out to the new bank account

we have loans that also come out eary in Feb will we be able to cancel the direct debits or will the bank try to stop are account

all very scary but cant wait to get started

thanks

Hi I had this problem aswell with crossover. I cancelled my loan direct debit and they didn't take it when I had a payment go in! Mine was with Lloyd tsb I took my money out in the post office then straight back into co op account at post office mist impressed cos my local co op branch is 5 miles away! We are also at the start give urselves a couple of months grace to save them loan payments for an emergency fund! Good luck to u x

Daniel_home

Thanks for your advice the other problem we may have is we will be in to are overdraft when the money goes in so when we take it back out it will put as straight back over drawn

londonfraggle

hi - I don't think this is really the right place to put this but I'm having a wobble and hope some of you lovely peeps can help me.

For some reason my company's payroll have today asked me (and a couple of others) to fill in ID verfication forms. The wording is as follows:

"I authorise XXX to approach a credit reference agency with my details below in order to verify my identity electronically to satisfy the Money Laundering Regulations 2007. I understand that in the event that XXX is unable to verify my identity electronically I may be requested to provide documentary evidence as an alternative."



Am quite happy to fill it in - nothing to hide - APART from all my defaults and DMP of course!! I really don't want my company to find out (I hold quite a senior position and deal with company money on a regular basis and don't know what people might think if they found out how rubbish I had been with my own money in the past.



Will this credit reference search lead them to find all of this?



Would be grateful for your thoughts - I'm having a bit of a panic attack about this all now.


Ta v much - and TGIF!!


Fraggle x