? moving to self managed

Jinx

If they are all with the original creditors does that mean you are still being charged interest on all debts?

You would deal with all the companies individually and therefore any review would be individual. Some might not ask for a review on the dot others will. My circumstances changed due to changing jobs, I was on contracts so I used to send them all the same letter and moved the money up or down accordingly. I used to update my SOA and send it but its not a requirement - I just found it easier to include; its hard to argue with figures in black and white.

eyeopener2

HH

If you reduce M&S to £1 for example would that significantly increase the payments to the other creditors? I'm assuming here you would be keeping your total payment as it currently is is? Would that push you over minimum payments for the others?

Or do you intend to go self managed, reduce M&S to £1 (tell them some story or other) but keep the other creditors at the same payment rate so your not upsetting them? That would be a plan as I suspect the credtors aren't really bothered who they get the money off whether its CCCS or HH!

Of course M& S could be bas&*^^£ and go down the CCJ route but thats something that you would have to fight IF it came about. I'm sure the darkside would help with that.

I see Gimpsdad was posting about IVA on another thread, is this something your considering?

Sorry for all the questions

E2

Hopelessly_Hopeful

eyeopener2 wrote: »

HH

If you reduce M&S to £1 for example would that significantly increase the payments to the other creditors? I'm assuming here you would be keeping your total payment as it currently is is? Would that push you over minimum payments for the others?

Or do you intend to go self managed, reduce M&S to £1 (tell them some story or other) but keep the other creditors at the same payment rate so your not upsetting them? That would be a plan as I suspect the credtors aren't really bothered who they get the money off whether its CCCS or HH!

Of course M& S could be bas&*^^£ and go down the CCJ route but thats something that you would have to fight IF it came about. I'm sure the darkside would help with that.

I see Gimpsdad was posting about IVA on another thread, is this something your considering?

Sorry for all the questions

E2

Morning E2,

All questions welcomed.

15.9% of my DMP payment is going on interest, mainly scewed by M&S at 25%.

Ideal plan would be to reduce M&S to tokens but maintain the others. As you know CCCS will not buy that so I'd have to go self managed but not sure I want to risk rocking the boat with the others.

Think I may just have to stick it out and hope for the best.

Hope you are having a good break.

HHx

eyeopener2

What about a letter, to all your creditors (bar M&S) saying "would you have any objections if I left CCCS but maintained my current level of payment and review timetable", worth a shot and then you know where you stand.

E2

jasperconran

hi

I have been self managing our dmp for about 6 months now. but as of next month im going back with CCCS.

Its just personal preference really. All our creditors have stopped interest and most have been passed to DCA's sometime ago. I did have a bit of a scary moment with D & G Solicitors acting on behalf of HSBC, but got that sorted myself.

It can be done, dont get me wrong so long as you keep your creditors informed of any changes....we just decided that we preferred to go back to having someone act on our behalf.

Ive given up worrying about defaults, arrears, and credit ratings lol, and probably could have carried on. but was getting sick of getting letters and having to keep writing them and then the creditors saying oh we never got that! like they do.

We have alot of stress and problems in our house, so like I said, just decided that going back to CCCS was a good idea for us.

But, I would still go for it! it can be done:)

pure_dead_dopey

guys

there is a solution to M&S behaving badly, HH you know what it is, it can be worked through the whole way. basically if you chose (and I keep saying this on one thread or another)to let banks bully you with unreasonable demands and sheer incompetance, they will do it. The whole debt collection system depends on fear, they write atrocious (and mostly unlawful threats)and you believe them, panic and worry about upsetting them, get a grip!!! please get a grip. the are banks they have to abide by the laws of the land the same as you and me. Being in debt is not a criminal offence, its the result of circumstances. As a family we have lost two endowments and one fairly large pension, both to sheer incompetance and total misinformation when we were taking them out and by the companies running them. For me it's about protecting what I have left in the best lawful way possible, never ever again will a company !!!! on me and mine. Why on Earth wouldn't you fight for your family and livelyhood? because your scared of upsetting a bank? those same banks who nearly bankrupted us all and continue to wreck havoc through out the world because of their incompetance

Time_to_face_the_music

Hopelessly_Hopeful wrote: »

Ideal plan would be to reduce M&S to tokens but maintain the others. As you know CCCS will not buy that so I'd have to go self managed but not sure I want to risk rocking the boat with the others.

Not sure if this is a daft question but I am not embarrassed to ask those so here goes: I know CCCS won't let you lower payment to M&S via your DMP but is there anything to stop you completely removing M&S and paying them outside the plan?

Time_to_face_the_music

Totally off topic and apologies for that but having been wondering for ages. What does

pure_dead_dopey wrote: »

Doing it the Niddy way:j:j:j

mean?

Hopelessly_Hopeful

Time_to_face_the_music wrote: »

Totally off topic and apologies for that but having been wondering for ages. What does



mean?

Have PM'd you

HHx

Hopelessly_Hopeful

Time_to_face_the_music wrote: »

Not sure if this is a daft question but I am not embarrassed to ask those so here goes: I know CCCS won't let you lower payment to M&S via your DMP but is there anything to stop you completely removing M&S and paying them outside the plan?

Morning

No such thing as a daft question. Stronger together and all that. Coniditon of a DMP is that you have to include all your debts. Grrr

HHx