DMP & Mutual Support Thread - Part 8

Standingtall

fermi wrote: »

Mercers are Barclaycard. Just their in house collection team.

Thanks for that Fermi. I wonde if that's for the better or worse? I guess in the long run they will be less likely to settle for lower F&fs for instance. Or maybe not.

Since it would be better for them to, say, get £2000 from me in one go in two years time, than an income stream of £20 a month for then next 15 years. This been due to investment opportunities compared to inflationary pressure. Only time will tell - plus it's unlikely I shall have £2k in two years:rotfl:

Thanks again!

Standingtall

Jenjen wrote: »

I feel quite bad for Barclaycard (not). DH had a platinum card with them and we never missed a payment although were only paying the minimum. Then they inherited 3 egg cards (1 his, 2 mine). all were up to date although only the minimum payments ever made. They must have been rubbing their hands with glee at all the interest they would get from us. Then we went and decided not to pay any of them straight after. So far non have been passed on but I can't see them being very happy.

Jenjen. Look very carefully in the top left of your Barclaycard statements. In a box in the corner, in very small print, (where you might expect an address, for instance, to be), was a very small message stating that they were passing the debt to Mercer. Blink and you would miss it! The call they make to you is a withheld number (they rang on my mobile).

Wannabefree1

Standingtall wrote: »

Hi all. I expect a few DMPers are in the same situation as me? Egg card sold to Barclaycard sold to Mercer! Talk about a chain reaction. I wonder how Barclaycard feel about all the 'bad debts' Egg sold to them, :rotfl:

I know, I shouldn't really laugh. I shall slap my wrists in an appropriate manner:mad:

Anyway, I had my call from Mercer today. They were fine except . . . I have a bad feeling they are going to call me every month! It was Luis from Manchester who called, except he wasn't sure whether it was morning or afternoon and spoke with an Indian accent - bless, he's only doing his job, but I still giggle. Anyway, after I gave my Payplan reference he instantly stated that all charges will be stopped and no more phone calls for 30 days. Hummm, 30 days. Well, the countdown begins.:eek:

Yup - poor old BC inherited 2 bad eggs (that only turned bad a month after delivery) and also we have 2 BC's. 3 of the 4 cards all have balances in excess of £6,000.

Had my first statement yesterday showing it had been transferred to Mercer. Spoke to Payplan who are immediately putting a hard copy of my SOA in the post to them. They advised me to call them, but I've emailed Payplan back for an address as we are not prepared to deal with any creditor verbally!

In fact, we already lodged a complaint with BC after they kept calling hubby at work after we requested correspondence by letter only. I threatened harassment charges being bought against them and the calls stopped, however have never received any responses to any of my letters other than a text to say they were looking into the complaint.


As they ARE Barclays woe betide them if they try calling hubby at work again - plus we requested under the data protection act that his work number be removed from their records. He works in a factory so you can imagine our embarrassment at them persistently calling and speaking to the receptionist!

Hopelessly_Hopeful

antonic wrote: »

I have been on a DMP with Payplan www.payplanplus.com since Aug 2005.

Aug 2005 was my LBM when I had debts (3 x Credit Cards, 1 x Overdraft) totalling £22000.00

Then I was referred to Payplan by HBOS and it took till Dec 2005 to start a DMP and make my first payment.

My DMP was originally to last 87 months and finish in Mar 2013, through me annually increasing my payments (bar the last year) it will now run for 84 months and finish on 2/12/12.

Its been a lot of hard work and the lack of money has sometimes been crippling, but I have worked through it and I will start 2013 debt free.

So, keep strong, come here for support (you will get it in buckets !) and dont worry, I will still be here after I become debtfree on 2/12/12.

If I can do it, so can you all.

Well done.

HHx

Wannabefree1

Just wanted to share - I've found a free iPhone ap called forecasting that looks like it'll be great to track my current account balance.

I'm sure there are some more sophisticated ones that would allow multiple accounts but I'm just going to keep the savings account on a spreadsheet as very few transactions. Plus it was me trying to get correct dates that was confusing me forecasting in a spreadsheet.

Also - am thinking of opening a second cashminder account for the housekeeping money. Rather than spend out of the salary/bills account. That way when it's gone. It's gone. Less likely to rob Peter to pay Paul that way! Anybody else do this?? I presume they'd let me have two accounts?

Giraffeseeker

Wannabefree1 wrote: »

Just wanted to share - I've found a free iPhone ap called forecasting that looks like it'll be great to track my current account balance.

I'm sure there are some more sophisticated ones that would allow multiple accounts but I'm just going to keep the savings account on a spreadsheet as very few transactions. Plus it was me trying to get correct dates that was confusing me forecasting in a spreadsheet.

Also - am thinking of opening a second cashminder account for the housekeeping money. Rather than spend out of the salary/bills account. That way when it's gone. It's gone. Less likely to rob Peter to pay Paul that way! Anybody else do this?? I presume they'd let me have two accounts?

iPhone Apps are great, I'm using one called "Spend Log" to record everything when I buy it, and it's all in helpful categories which I labelled myself with my budget for each category in the title so I can be reminded! I've got all my bills on recurring and for the 1st of the month, even though some come out later, so it's a "real" balance as opposed to one which looks better than it is! In the first month I put in a dummy spend of £50 so I have a £50 safety net if I forget to record something or a bill is more than I think. ie, when I am at £0 there should be £50 left.

I've also got MoBank (as I bank with the Coop and they don't have their own iPhone App) which you can add lots of accounts (including CC's) to and see your balances each day in one place just by entering a PIN number.

I can't see why Coop wouldn't let you have a second account - makes sense and good financial management ensuring you are covering all your DD's. I might think of doing the same.

Hopelessly_Hopeful

tintingirl wrote: »

iPhone Apps are great, I'm using one called "Spend Log" to record everything when I buy it, and it's all in helpful categories which I labelled myself with my budget for each category in the title so I can be reminded! I've got all my bills on recurring and for the 1st of the month, even though some come out later, so it's a "real" balance as opposed to one which looks better than it is! In the first month I put in a dummy spend of £50 so I have a £50 safety net if I forget to record something or a bill is more than I think. ie, when I am at £0 there should be £50 left.

I've also got MoBank (as I bank with the Coop and they don't have their own iPhone App) which you can add lots of accounts (including CC's) to and see your balances each day in one place just by entering a PIN number.

I can't see why Coop wouldn't let you have a second account - makes sense and good financial management ensuring you are covering all your DD's. I might think of doing the same.

I like the spend log app idea.

HHx

pickled72

Hi all, can anyone give me any help regarding a rejected DMP offer to Barclayloan. My original payments before DMP were £378.46, the offer via CCCS was for £303, so not that much far off the original payments.

I received a letter today to say that the offer was not acceptable. I will be receiving a default notice, and a demand for full payment on arrears (my payment would have arrived later than usual due to the DMP being set up). It says my account will be closed and transferred to the Bank's Debt Recovery Department who will be in touch to discuss the offer.

Until I hear from the Banks Debt dept I have to pay the amount offered and providing the apyments are received on a monthly basis they will refund any interest that accrues on the account from now until the account is closed and passed to the debt team.

So now I am really cheesed off, confused and don't know what I should do

Any info gratefully received.

antonic

Dont worry !

Keep paying as it reduces your overall debt.

Barclays referring your debt to their own inhouse D(ebt) C(ollection) A(gency) = DCA could be to your advantage as interest on debts is normally frozen when referred.

pickled72 wrote: »

Hi all, can anyone give me any help regarding a rejected DMP offer to Barclayloan. My original payments before DMP were £378.46, the offer via CCCS was for £303, so not that much far off the original payments.

I received a letter today to say that the offer was not acceptable. I will be receiving a default notice, and a demand for full payment on arrears (my payment would have arrived later than usual due to the DMP being set up). It says my account will be closed and transferred to the Bank's Debt Recovery Department who will be in touch to discuss the offer.

Until I hear from the Banks Debt dept I have to pay the amount offered and providing the apyments are received on a monthly basis they will refund any interest that accrues on the account from now until the account is closed and passed to the debt team.

So now I am really cheesed off, confused and don't know what I should do

Any info gratefully received.

Hopelessly_Hopeful

pickled72 wrote: »

Hi all, can anyone give me any help regarding a rejected DMP offer to Barclayloan. My original payments before DMP were £378.46, the offer via CCCS was for £303, so not that much far off the original payments.

I received a letter today to say that the offer was not acceptable. I will be receiving a default notice, and a demand for full payment on arrears (my payment would have arrived later than usual due to the DMP being set up). It says my account will be closed and transferred to the Bank's Debt Recovery Department who will be in touch to discuss the offer.

Until I hear from the Banks Debt dept I have to pay the amount offered and providing the apyments are received on a monthly basis they will refund any interest that accrues on the account from now until the account is closed and passed to the debt team.

So now I am really cheesed off, confused and don't know what I should do

Any info gratefully received.

I agree with Atonic. This is a good outcome.

HHx