DMP & Mutual Support Thread - Part 8

Ellieseleven

nicrobx4 wrote: »

Hi all,
I'm a little worried about how the next few months are about to pan out.
I'm sat with my husband going over our DMP which we are in the process of setting up with CCCS. After going over this thread we've noticed that some of you have had more problems with creditors than others and we're worried that we're doing the wrong thing.
We have two kids 20 and 23 and cant bear the thought of constant phone calls and calls to work etc...
Our debts are with
Santander OD 3,000 CC 4,000 Unsecured loan 7,000
M&S CC 5,500
Barclaycard CC 7,500 & CC 1,800
Virgin 1,000

Any thoughts on how these will react
Just in the process of opening a new account with the nationwide
Thanks in advance
Nik & Mark :0(

Hi Nik,

We had debts with all the same ones as you and for very similar amounts too! Santander said that they didn't accept our payments but we just paid them the same amount that CCCS advised and they have never phoned us or written to us since although they are still applying interest on our overdraft but everything else has been frozen. BTW.. This was the bank that I originally felt very loyal to as we had banked there for over 25 years (don't feel loyal now!!!)

M&S accepted straightaway and have never been a problem at all.

Barclaycard again accepted straightaway and didn't cause us any problems

Virgin (MBNA) accepted our offer of payment and have just written to us to say they have sold on our debt (we didn't want to be left out - see other posts on here) but again just accepted our payments

I know that there are no hard and fast rules applied by the preditors but just wanted to let you know our experience

Take care
Ellie xx

sickasachip13

Ellieseleven wrote: »

Ha Ha! We got two of these on Saturday - they must definately be having a clear out:)

It's remarkable really - judging by the experiences here, they must have cleared out thousands of people, it can't coincidentally just be us!

MoneyMum

Hi All,
Well first DMP payment has been made on the 26th :j im please at how quickly its all been set up so im just waiting for the s*it to hit the fan now to be honest.

Worried creditors wont accept the DMP and ill be in a worse position with charges and interest.
My Debts are with Santander OD, CC and a HP then Natwest CC and a very and next catalogue has anyone had any really bad experience's

My last question would I bed mad and tempting fate if i went after Santander / Natwest for my bank charges?


Thanks
xx

sickasachip13

Next catalogue has been a walk in the park for us. No phone calls, one letter accepting DMP and % frozen. I haven't got the others, so can't comment on them specifically, but I would say that it's usually nowhere near as stressful and scary as people think. Remember that for the first month or so, you will see some debts rise due to charges but, hopefully, after that they will start dropping as your payments aren't absorbed by the huge % charges usually applied.
SAAC

LadyRed

Hi All,

Still a newbie on here. My first payment for my DMP is due to go out on 1st February which I'm looking forward to as the start of my new life heading towards a Debt Free life. :-)

All seems to have gone well so far with most of the creditors seeming to be accepting the DMP. Some stopping interest straight away and some not but at least the calls have stopped.

But, today I've heard from Next who are accepting the request for reduced payment but are trying to get me to sign a new credit agreement which clearly I don't want to do. Do I just ignore this? Should I advise CCCS or is this just a standard type of response to try to get me to sign something?

sickasachip13

Hi,
I would just ignore it - they're accepting the reduced payment, which is the main thing. I have next as a creditor, I didn't sign a new credit agreement and haven't heard anything back since, apart from the monthly statements. You could let CCCS know if you like, you can always email them which saves hanging on the phone.
SAAC

Joyanne

Hi all just a quick update, had a letter from aqua today and they've accepted my payments and stopped interest. So that's nearly all of them, all of the catalogues have accepted and stopped interest, I haven't heard anything from HSBC about my od but I had a statement from my cc still with interest so will have to wait and see what will happen there and next accepted no problems even though I ignored their new credit agreement.

pumpkinsoup

hi i hope everyones well! just a quick question we had the pack from cccs and have sent it back off!! how long till we hear from them and its set up etc! many thanks in advance:D

LittleHippyHop

Hi Money Mum, I was wondering this myself as my overdraft is inlcuded in my DMP and I had a fair few bank charges from uni (£30 charge for going over by 11p once... I love Lloyds!) I went through my old statements online the other day- only had time to look through a few months but came across 4 charges in that time alone!

MoneyMum

LittleHippyHop wrote: »

Hi Money Mum, I was wondering this myself as my overdraft is inlcuded in my DMP and I had a fair few bank charges from uni (£30 charge for going over by 11p once... I love Lloyds!) I went through my old statements online the other day- only had time to look through a few months but came across 4 charges in that time alone!

I went through 2 years of charges on just Santander and it was over £400 :eek: so good knows what 6 years would be like probably around £1500 even bigger :eek: . Thing is it would all most clear my Abbey CC which i would love to do.

xx