Claiming in a DMP/IVA (merged)

spentmadoe

Hi

Has anyone had any experience of this situation?

I owe the my old bank a lot of money (circa £15,000) which I am paying off through the CCCS together with various credit cards etc on a debt management plan which has just been set up. The CCCS have got the bank to agree to freezing the interest from January 1st which is nice. Of course I am still liable to the months of interest before that time which is quite some tidy amount.

If I now turn around and threaten to sue them for £1500+ for bank charges, are they likely to turn the interest back on?

The other thing I noticed is that the First Direct is the only company who are NOT on my Experian report. My new bank account are on there though which is showing up all green and good.

Many thanks for any thoughts.

SMD

FieryBlondeScot

hiya just wanted to say that i am in your situation. i am with CCCS and think i owe barclays around £2500 at this point. i have dilly-dallyed for a while now about claiming back my charges (£750) but have decided to go for it. they may well turn around and say sod you smart !!!! heres your £750 but we want the rest of what you owe us! eek equally they may not but im giving it a go anyway in the hope it will turn out ok. i claimed back £450 from A&L last year then they promptly closed my account and demanded repayment of my overdraft doh! i am looking to hopefully try full and final settlements with my creditors around summertime.

having just wrote that though now im thinking will they even consider full and final settlement after i have taken them to court????
therefore have just made the decision that i am no clearer and maybe a bit warier now so the two of us will have to wait until someone more knowledgable arrives to advise!!! sorry!!!

FieryBlondeScot

right then, i am in the same situation and although i am terrified this will backfire on me, in terms of them demanding the balances i still owe them, i am gonna go for it. i owe about £10k to 6 creditors, and expect to get back around £2K from barclays, barclaycard and egg, all of whom are in my current DMP.

My fantasy scenario is that they all pay up, i stash the money in a new accont and then at some point go for a full and final settlement at ideally 40% or less of total debt.

Mynightmare scenario is i get the 2K back, they all say 'sod you' pull out the dmp and demand repayment of debts and then refuse my offer of F&F settlements.

Wish me luck for the fantasy scenario as i could do with it!

I will keep other in this forum updated as to how bumpy the ride gets!

so today, have recieved 6 years statements from barclays -total charges £750, and tomorrow will send them the 1st demand letter giving 14 days to repay me.

Anyone else fancy going for it?

spentmadoe

Hi FieryBlondeScot

I have also asked this question to the CCCS and should have a reply by Monday if no-one on-line has come accross this before. I'll let you know when I hear.

I think I'm fairly determined to go through with it anyway. Because I owe just over £50k, I need all the help I can get. I'll be doing the same with credit cards, Loan and HPI co. I am also selling some of my posessions to try to take advantage of paying off in a lump sum whereby some companies will give you around 40% off.

Good luck,

SMD
Debt free in 14 years ..... my challenge: do it in 2.

FieryBlondeScot

and if this helps i also posted on CAG and got this reply:

in a similar situation and just sending LBA to First Direct. Spoke to payplan, and they've advised me to go ahead. Worse case scenario I will owe FD less if they knock the amount I'm claiming off my debt. If they cancel your DMP, they will have to bring you to court (irony I know), which will cost them, and in the end the court will ask you to pay in a similar way to the DMP - either way banks are no better off.

Edinburghlass_2

Nothing much concrete regarding this as yet.

spentmadoe

Cammmaaaan then Fiery Blond Scott, we'll have to be the concrete on this .... not the wet putty substance. I'm up for it if you are!

Keep you posted and good luck.

Cheers,

SMD

dubliner10

Hi all,

I've got a DMP with Payplan too. Owe about £4000 to First Direct. I calculated they owe me >£3600 in bank charges before the 8% you can tag on if you go to court (>£4800 then !).
Sent my preliminary letter and had an offer of £1600, which I've told them to shove.

I intend to take them for the full amount. As I have a DMP I intend to ask them to send the cheque to me for the full amount arguing that I wish to make a pro rata payment to all my creditors. Payplan have said (once I got through) that it shouldn't cause a problem.
My view on it is worse case scenario they pull out of DMP and I have more than enough to settle the debt when I win.

People should get themselves over to the consumeractiongroup.co.uk asap. Great support. Loads of people who have claimed. They helped me get this far.

Dubliner

FieryBlondeScot

hello dubliner

spent - lets do it and if we end up coming off worse for it theres always the freebies and moneysavinoldstyle boards to get us threw he he

dubliner10

Too right Fiery!
How could we be worse though?! We owe them money and can't pay them 'cos we have none. They have our money and they have plenty. If they give us ours back then they can have theirs!!

So was it said so was it done...or in Irish shove it up their ........

Good luck in the rugby tomorrow btw