DMP & Mutual Support Thread - Part 8

BlushingRose

Has no-one got any suggestions for me please?

Tigsmom

BlushingRose wrote: »

Can't remember if I posted in here about this or not...
The only account we don;t get a statement for is the now closed, OD account.
Mr BR has written to the bank to request statements, we got a phone call saying that they don;t deal with it at branch level any more and it's now with 'collections' She agreed to forward on the letter.
So far, no reply and she says she doesn't have a direct address for that dept.
I have her name and number so could ring and speak to her again, but not sure it would do any good. Any suggestions?

Do your debt management company have any contact details? Why do you need a statement? If you really need one I would ring the bank back and ask for the collections number. Or don't pay them this month and they'll contact you!:rotfl:

Time_to_face_the_music

BlushingRose wrote: »

Can't remember if I posted in here about this or not...
The only account we don;t get a statement for is the now closed, OD account.
Mr BR has written to the bank to request statements, we got a phone call saying that they don;t deal with it at branch level any more and it's now with 'collections' She agreed to forward on the letter.
So far, no reply and she says she doesn't have a direct address for that dept.
I have her name and number so could ring and speak to her again, but not sure it would do any good. Any suggestions?

Hi BR

I think the bank is legally obliged to provide you with an annual statement but should also provide an up to date balance if you request it.

Which bank is it? Someone may be able to help you with the collections department contact details.

BevieB

Time_to_face_the_music wrote: »

M&S have reached a whole new level with us today with a letter in response to our FOS complaint.

According to this letter, they have not stopped interest because we are within our minimum payment and so they suggest that we contact CCCS and ask them to reduce their payment to M&S and they will then stop interest. They then go on to suggest that we keep doing this and each time, re reach minimum payment level, we then ask CCCS to reduce the payment again.

WHAT? :wall:

Current monthly payment is around £150, according to M&S minimum payment is £140, not what it says on our statement but hey let's go with the flow. So they are sugesting we contact CCCS and ask them to reduce the payment to £120 and then they will be happy to stop interest. They then say that when the minimum payment goes below £120, we reduce it again and so on.

DOUBLE WHAT?? :wall::wall:

This is madness. Current payment of £150 includes around £85 interest. We haven't asked yet but am sure CCCS won't agree to drop their payment because then it won't be a fair distribution across our debts. We are also not convinced that M&S will not protest if we drop, and continue to drop, the payment and/or not stop interest anyway.

Oh and as an added bonus, they also told us that they will be re-adding interest on the CC as soon as that reaches minimum payment too and suggested we take the same approach with dropping payments to that.

HH - I know M&S are on your favourites list too. Have you received any similar nonsense?

Anyone got any ideas on how to deal with this?

Please remember it's not just any financial nonsense, this is M&S financial nonsense
Hi, we had been on a DMP with CCCS for nearly 1 year. My debt with M&S is £7000. They stopped interest from the start of our DMP although we are only paying approx 60%of min payment.

When we had a simular problem with Halifax I contacted CCCS to ask if they could stop payments to them they refused so I would be surprised if they reduced payments. We have complained to FSO and been waiting for an outcome has taken 2.5 months so far.

BlushingRose

Tigsmom wrote: »

Do your debt management company have any contact details? Why do you need a statement? If you really need one I would ring the bank back and ask for the collections number. Or don't pay them this month and they'll contact you!:rotfl:

That's a good point, CCCS might well have the necessary contact details.
We want a statement so that we can get a correct balance and find out whether they're charging us interest or not.

BlushingRose

Time_to_face_the_music wrote: »

Hi BR

I think the bank is legally obliged to provide you with an annual statement but should also provide an up to date balance if you request it.

Which bank is it? Someone may be able to help you with the collections department contact details.

Thanks.
It's the Yorkshire Bank.
We have a loan with them too and have always had an annual statement for that, but can't seem to get any info (at least, so far) about the status of the OD account.

Time_to_face_the_music

BlushingRose wrote: »

Thanks.
It's the Yorkshire Bank.
We have a loan with them too and have always had an annual statement for that, but can't seem to get any info (at least, so far) about the status of the OD account.

http://www.ybonline.co.uk/contact-us/contact-points

Tigsmom

Before I cancelled my DD's and sent out letters to my creditors I went online and changed all of my preferences to 'paper statements'. It might not make any difference but it was worth a try.

2spicy

ianmak wrote: »

I have a credit card for work too, and as far as I know it's at the company's risk. I said I'm not allowed credit (I'm reasonably open with them), so they just said a £1500 limit rather than the usual 10k(!).

Everything is audited, so unless I did a runner to the Seychelles (would I get there for £1500??), it's not a problem, and I've never been tempted.

Good to know that others have this, and that its not breaking the terms of our DMP ... Had a chat with my line manager today, and it turns out it is a credit card, not a charge card ( my responsibility to ensure its cleared ).
Also been advised that credit limit is something silly like 10,000 USD (its amex). My boss was happy to let me keep the card when i explained my circumstances and even went as far as to tell me my circumstances are not unique as others under his leadership are or have been in similar positions.
Just have to be good and only use it for company related expenses

Time_to_face_the_music

Thanks to everyone who gave me advice on the car insurance. We decided to try and pay cash, in a very naughty, roundabout way which I think it's best not to discuss :shhh: :silenced:

We phoned the insurance company last night and were told we still needed a credit check to pay cash :mad: but we survived that and managed to get the cost down from £845.24 to £628.46 :j

It appears Mr TTFTM's union membership meant a big discount which we never knew before so it's always worth asking :T