New Dmp Mutal Support Thread

rustybucket

Newleywed,

I have a loan, CC, and overdrawn current account with First Direct.

They have not contacted me YET, though it will happen and I expect them to offer me this managed loan and I expect them to not accept my DMP and then I expect them to sell this on to a DCA, who hopefully will accept the DMP, then it will settle down.

Sod em, don't waste any more brain power on thinking about it. They're not worth it.

newlywed

rustybucket wrote: »

Sod em, don't waste any more brain power on thinking about it. They're not worth it.

Yeah, have you seen this latest from HSBC???? http://uk.news.yahoo.com/afp/20070412/tuk-lifestyle-britain-a7ad41d.html

If I wasn't moving banks coz of DMP then I'd probably leave them anyway - charging almost £20 a month to go into a branch!!!!! :eek:

newlywed

95kelly wrote: »

Newlywed: GE money accepted straight away with mine,but im not sure if thats because its one of my smaller debts!! Great universal, i think is the same company as littlewoods and they accepted aswell, not sure on mint though. I am hoping with reading previous posts from people that once HSBC pass on to a DCA they are more likely to accept the reduced payments, fingers crossed anyway.Amani seems to have had luck with that one!!! Just gotta wait five months first!! x x

Thank Kelly. Even if most of them agree to the DMP and stop interest I'll be better off than now.

Congratulations on your star!!

I've transferred two of my DD's over to my new account already, my mobile and the AA. Just need to do car insurance and check my wages have been swapped and then they can all be told that I can't pay them what they want!!!

rustybucket

Newleywed, this happened ONE minute ago.

The phone went,

I answered it, it was First Direct.

She asked if it was convienient to speak.

I said yes.

She asked me to confirm my date of birth and mothers maiden name.

I did.

She then said "WE'VE RECIVED THE OFFER OF PAYMENT FROM PAYPLAN AND WE ARE HAPPY TO ACCEPT THE AMOUNT ON A DMP. WE WILL SEND YOU A LETTER TO CONFIRM THIS".

I said thankyou and she said take care.

I put the phone down and wrote this, in shock!

So hangon in there they may just do the same.

newlywed

Rusty:T

That's great - If only they'll all do that for me!!!!

95kelly

:T :T :T Thats great rustybucket!! Congrats!!! Have you recovered from your shock yet?? x x

daysieblue

Hi All

I don't know if this helps anyone at all, but this is the position with my creditors after 2 years

Hellifax - Put up a huge fight to accept the DMP, first wouldn't accept it because we weren't with CCCS, then would accept National Debtline, but wouldn't accept SOA becuase our child care was too high. Eventually accepted when I quoted their "Debt assistance" leaflet back at them! Still trying to get up the nerve to reclaim the initial interest and charges they refused to stop.

Egg Card - Almost immediately put us onto a DCA, who offered to reduce the debt to 75% for immediate payment. Couldn't do, so we now have a DMP with them and it works well.

Mint - Have been REALLY good, just contact us every 6 months just to see how it's going, and to ask if we have the ability to increase the payment, but have been fine if we can't

MBNA - We've ended up paying them more pro-rata in order to stop it going to DCA. It only worked because our childcare went down at the right time, and all other creditors were happy with their payment.

Northern Rock - A tale of two banks! both DH and I have seperate loans with them, mine is under £10k, his is over £30k. I had real trouble getting them to accept a DMP for my account, and they ring every 6 months looking for an update. DH has spoken to them once!!!! Get the feeling they think my loan is so small (?) if they hassle me I might be able to find it somewhere else. They know they have no chance of that with £30k!!!

Don;t know if that helps at all

db xx

daysieblue

Well done Rustybucket, it's a marvellous sense of acheilvement, isn't it

db xx

newlywed

Thanks daisyblue. Since CCCS just say they might be able to stop interest, I always want to know how many do actually do that and what the likelihood is that they will stop my interest.

Hopefully I'll get GE Money saying it's fine; First Direct saying yes that's fine; and Mint saying okay.

Then I'll be grinning all month!!!

lonely_2

Lets start the Hate Bl**dy S??(can anyone fill this gap?) Club!!

I too am only having problems with HSBC. Bit the bullet yesterday and rang all the creditors. Thought it may be premature, as only made first payment to Payplan at start of this month, but already:

A&L - have not received Payplan offer yet but have stopped charges/late fees;
Honours Student Loan - have accepted but won't stop interest because it's already low (every little helps though!);
Lloyds - stopped all interest and charges but haven't processed arrangement yet (yeah! they were my biggest creditor);
Barclays - account on hold (means no charges I think) whilst DMP set-up in progress;
Morgan Stanley - charges/interest frozen (I thought they would be the worse);
RMA - absolute T*ss Pots! demanded full settlement over 4 months (Payplan should have negotiated for me but were scared off for some reason);
HSBC - extra polite but will only stop interest/charges for 4 months! when i asked why, it's because my reduced payments cover the interest by just over £10. so i'm getting penalised for being able to pay more - great logic HSBC!

Anyway, glad about all the bad publicity HSBC is getting in the news today The World's Local Bank my a*se, more like the World's Lowest Bank! Actually, I think this should be our code name for them!!

Anyone debating calling the creditors, just do it. It's worth it if it speeds up the process of saving you money. Just don't give them too much info - they use it against you. Tip: Keep it vague ("I'm having financial difficulties...Why?...because of a change in personal circumstances...), brief (hello, have you accepted DMP, can you freeze interest/charges, great!) and polite (please and thank you).

P.S. Congrats Rusty Bucket!