DMP & Mutual Support Thread - Part 8

RonniesMummy

Hiya all

Just popping in before I have to start my working day (doing a lot of overtime the next few weeks to try to get some money behind me for emergency's, as at the moment not a penny!)

I have had a letter from lloyds tsb about my overdraft saying they will be going for legal action and to call them within 14 days, I have told them over and over I am on a dmp with stepchange, do I phone them again? Its so expensive when all I have is a mobile.

Hope everyone else is doing well, I am currently selling stuff on ebay, and hoping to make £100 this week, which I think I will be putting straight into the emergency fund!

Hopelessly_Hopeful

Well done on building up the emergency fund

Most of us advice not to bother speaking to them, letters only and you might even want to remined them of the stress they are causing you by not taking notice of the communications you have sent them, this is outside of the recommended OFT guidance!

Keep in there

HHx

System

Hi peeps!

So I saw a post on here recently about someone who thought they had paid their debt with Payplan finding out they still owed a grand, so I started going about checking how much I owed and it's about a grand more than I thought :-( I've asked pp to amend their records but they said that if the barclays balance is amended then this will reduce the other offers to the other creditors -are you still happy for the amendments to be made?

Should I say yes?

Also, barclays are still charging interest on my debts. Is there anything to be achieved by contacting them directly and asking them to reduce the interest?

Thanks

xx

Hopelessly_Hopeful

Ashamed_of_Bristol wrote: »

Hi peeps!

So I saw a post on here recently about someone who thought they had paid their debt with Payplan finding out they still owed a grand, so I started going about checking how much I owed and it's about a grand more than I thought :-( I've asked pp to amend their records but they said that if the barclays balance is amended then this will reduce the other offers to the other creditors -are you still happy for the amendments to be made?

Should I say yes?

Also, barclays are still charging interest on my debts. Is there anything to be achieved by contacting them directly and asking them to reduce the interest?

Thanks

xx

If it were me I'd leave it as it is with PP. However, insist on statements to yourself from all creditors and monitor every transaction rather than relying on someone else who will never do it as well as you can. That way you will always be in charge and can intervene where neccesary and no nasty suprises.


HHx

antonic

That could be me !

I wasnt actually disappointed as I have known for at least the last 3 years that I had further interest to pay to Blair Oliver & Scott (HBOS`s DCA) and I wanted to pay all my debts off !.

It will take me 90 months instead of the planned 84 to clear all my debts, and as off today I only have 5 months left to pay until I am DF.

What Payplan did with me was before my original DF date of Dec 12, was to check with my creditors the balances outstanding and then change the amounts I am paying to clear the balance over a further 6 months - the amount I am paying hasnt changed, I will now be DF in June 2013 and not Dec 12 as originally planned.

When you have been paying for 7 years an extra 6 months is nothing !.

I would recommend that you let Payplan deal with everything, I have and have never regretted it & would recommend them to everyone !

Ashamed_of_Bristol wrote: »

Hi peeps!

So I saw a post on here recently about someone who thought they had paid their debt with Payplan finding out they still owed a grand, so I started going about checking how much I owed and it's about a grand more than I thought :-( I've asked pp to amend their records but they said that if the barclays balance is amended then this will reduce the other offers to the other creditors -are you still happy for the amendments to be made?

Should I say yes?

Also, barclays are still charging interest on my debts. Is there anything to be achieved by contacting them directly and asking them to reduce the interest?

Thanks

xx

sunnyface

Can anyone answer a quick question, please?
In March, my car HP is finished - which is great, but the car is falling apart and we really need a new one. I was hoping to use the money I would have spent on the HP to save up and hopefully get a better car later in the year or next year but will CCCS let me do this? Or will they automatically want me to redirect this money towards other debt?

MissDixie

Hello, a little advice is needed, I have recently started a DMP (StepChange) with only two payments so far, I'm currently a student and my debts are pretty low (4500), within this amount I owe Argos £470. Argos are the only creditors to have not stopped interest, my query is that I have recently come into some extra money, enough to pay off the Argos debt and leave a little for an emergency fund. Will I be allowed to do this myself, or should I go through StepChange? I have a smaller debt that could be paid with this money and then some put towards Argos, though then I would still be charged interest on the Argos account, so my question is, would I be better to clear the smaller debt or Argos?

Any advice would be greatly appreciated

Thanks

Freshstart2012

MissDixie wrote: »

Hello, a little advice is needed, I have recently started a DMP (StepChange) with only two payments so far, I'm currently a student and my debts are pretty low (4500), within this amount I owe Argos £470. Argos are the only creditors to have not stopped interest, my query is that I have recently come into some extra money, enough to pay off the Argos debt and leave a little for an emergency fund. Will I be allowed to do this myself, or should I go through StepChange? I have a smaller debt that could be paid with this money and then some put towards Argos, though then I would still be charged interest on the Argos account, so my question is, would I be better to clear the smaller debt or Argos?

Any advice would be greatly appreciated

Thanks

Hi

Most people will tell you to go via StepChange as favouring one creditor over another can be seen as unfair.
If I was in your situation and had no chance of getting Argos to freeze or reduce interest then I would settle that account myself,meaning that your other creditors would receive a little more each month and your DFD would be that much closer.
Before settling the debt ,write to them with a Full and Final offer as you maybe lucky and manage to get a few quid knocked off.

Time_to_face_the_music

Hi everyone :hello:

Life is a bit chaotic at the moment and I haven't managed to get here much but just wanted to say hi to all the newbies.

My advice for the week is:

1) Forget loyalty to the banks, they really don't deserve it

2) If anyone is still charging you interest, make a complaint to the creditor and then follow it up via the FOS if you don't get the result you want

3) StepChange (ex CCCS), Payplan, CAP etc all do a great job but never forgot the debts are ours and we need to keep some control over what is going on. Check your statements, update your balances, watch out for creditors reintroducing interest if you reach minimum payments

4) Read this thread and ask if you need advice, help or support

Good luck and here's to debt busting :j

TTFTM x

MissDixie

Freshstart2012 wrote: »

Hi

Most people will tell you to go via StepChange as favouring one creditor over another can be seen as unfair.
If I was in your situation and had no chance of getting Argos to freeze or reduce interest then I would settle that account myself,meaning that your other creditors would receive a little more each month and your DFD would be that much closer.

Before settling the debt ,write to them with a Full and Final offer as you maybe lucky and manage to get a few quid knocked off.

Thank you Freshstart, I think it would be best for me to clear Argos first, then work on the others, I just wasn't sure if Stepchange would have a problem with this, I couldn't find much info on paying one creditor early!
I'll get onto Argos with a full and final offer, hopefully they do knock a few pounds off!

Thanks for the advice.