DMP & Mutual Support Thread - Part 9

Time_to_face_the_music

Back_on_budget wrote: »

Has anyone had any luck taking Lloyds to the FOS?

All other creditors have stopped interest, and Lloyds have done on our current account overdrafts. They won't however stop on the wife's credit card or a loan we have with them. The loan is the big problem, as the balance is going up, not down. They have accepted our reduced payment, but have had another letter today saying they won't stop or reduce interest. We have paid over £1300 since we started on the DMP, but the current balance is £200 more than when we started!

I'm planning to reply with the template letter that was posted a couple of pages back. If that doesn't work, does anyone have a template to send to FOS?

Allypops wrote: »

I think I will be following in your footsteps. Lloyds finally stopped adding interest and charges across our accounts only to reintroduce it on my credit card account on this month's statment. All other creditors have been good. It is always lloyds that cause me to want to jack the whole thing in and admit defeat. TBH I now wish we'd gone down the IVA route so they couldn't keep changing their mind about whether they will be reasonable or not, but we are a bit far down the road for that now. :mad:

Are you above minimum payment on CC now? Lloyds automatically add interest if you are. If not, they demand 6 monthly reviews and if they haven't received one, again they automatically add interest.

Please do not admit defeat, they can be beaten but it's a hard battle. Before we left StepChange, I needed to call Lloyds every single month about either CC or OD. I managed to get a personal advisor via their online complaints and kept the phone number and reference number in my mobile, hassling him every month worked much better than ringing and speaking to someone random each time. If you still have online account access, log in then go to this page:

http://www.lloydstsb.com/contact_us/complaints_procedure.asp

and scroll down to Submit a complaint using our online form.

You don't need a template for the FOS, you call them and they complete the forms and send it to you to sign but you must have written a complaint and have Lloyds final response before the FOS will act.

http://www.financial-ombudsman.org.uk/consumer/complaints.htm

Lloyds have promised to default me but still haven't done it, however if they are not applying interest I can live with it. Being self managed, we now have the weapon of reducing their payment whenever we feel like it.

Don't give up and don't let them get you down, you can win.

TTFTM x

Julie67

humphrd wrote: »

Couple of breakthroughs today - 3 letters from my creditors acknowledging they are holding of charges and interest whilst waiting for my DMP to kick in and 1 saying they have accepted the reduced payment and are holding off all interest and charges.

Just one more to hear from and hoping that they will all accept the plan !

I also shopped in Aldi today to see how much I could save and I was surprised on the difference on some prices such as 1kg chicken for 6.98 which is normally closer to 10 in Sainsburys so am planning how I can make some switches to reduce the outgoings - quite a change actually as it's a long time since I've bothered to check really !

I find Aldi fabulous, I've reduced our shopping down from around £120 a week with Tesco to £75 with Aldi. The only thing we don't get from there is coffee.

Time_to_face_the_music

Julie67 wrote: »

I find Aldi fabulous, I've reduced our shopping down from around £120 a week with Tesco to £75 with Aldi. The only thing we don't get from there is coffee.

Another Aldi fan here. We are lucky enough to have an Aldi and Lidl which are very close to each other. Will be visiting both later today.

humphrd

cocoloco wrote: »

Hello fellow debt free wanabees!

I just poped in to update on my DMP- started April 13 with Stepchange (£47.000) and offer advice to anybody who is just starting on they journey. Very happy with everything to date, no major drama and already been able to put some emergency money away!

My first advice is when you send your initial letter to your lender make sure that you put it in the you only wanted to be contacted BY POST!!!- we did not have 1 phone call in the last 7 weeks makes everything peacefull.
My second advice - only pay a token £1 initially to your debtors- they don't mind it and it gives you a chance to save up some money for emergency.
My third advice- keep a copy of all paperwork so it is at your ready if you need to check on some details.
My fourt advice- don't be affraid to call youir debtors- I called a few and was always treated nicely and symhathetically. If anybody anoys you- just hang up - what can they do?!?
My fift advice- read back on this thread- I would never have been able to sort our mess out and for this I'm greatfull for all of you!!!

Overall don't be scared of the process, you are trying your best to pay off your debts juts will take a bit longer and the debtors really can not do much about it.
I haven't felt this relieved and stopped worrying about money first time since forever. Still living by a strick budget but at least we can put some money aside for any unforseen expenses.
Also, first time I feel like I work for myself and my family (I work 45hrs+ / week) instead for the creditors.

Good luck everybody and persevere - the end result worth it!!!

Cocoloco

Good for you ! My first payment is due out in May and already I am feeling more confident that we will be able to manage. I have to say that Stepchange have been so efficient so far and really it was a godsend finding this thread and all the helpful people.

Back_on_budget

Back_on_budget wrote: »

Thanks bettingmad. Certainly looks like there has been good results from that email address!

So I sent the email last night... Let's wait and see what happens. I'm not letting myself get too hopeful, as Lloyds have been a pain to deal with all along, but if they agree to repay the interest they've charged since we went on the DMP, it will shave another 5% off of out remaining debt.

Looking back at the numbers, I wish we had never taken that loan! Even before being on the DMP, we had paid £9k in interest in 2 years, with 8 years left to run on te loan. The loan itself was only £15500!

Hindsight is a wonderfully thing!:rotfl:

New_Day

Back_on_budget wrote: »

Has anyone had any luck taking Lloyds to the FOS?

All other creditors have stopped interest, and Lloyds have done on our current account overdrafts. They won't however stop on the wife's credit card or a loan we have with them. The loan is the big problem, as the balance is going up, not down. They have accepted our reduced payment, but have had another letter today saying they won't stop or reduce interest. We have paid over £1300 since we started on the DMP, but the current balance is £200 more than when we started!

I'm planning to reply with the template letter that was posted a couple of pages back. If that doesn't work, does anyone have a template to send to FOS?

We went to FOS when Lloyds reinstated charges and interest on a credit card account.

Unfortunately the FOS sided with Lloyds even though they had not carried out any reviews on our circumstances.

It might be worth a try cos every case is different but Lloyds have been a nightmare from day one.

Bettingmad

Thought the below may be useful for those embarking on a DMP who are worried about telephone calls. I was trawling through my documents that I sent off at the beginning of my DMP and saw this. I sent them off by recorded delivery to all my creditors.
Ensure you get an acknowledgemnt that they will comply. If not then a follow up complaint that they have not responded to your lawful request.


FAO Data Controller of (creditor/DCA) - Section 10 notice under the Data ProtectionAct 1998

I withdraw my consent (under s.10 of the DPA) for you to process mypersonal data with respect to my personal or work telephone numbers registeredwith you or stored on your systems/records.

The processing and use of these numbers will cause significant distress to mein view of my current situation

Advice from The National Debtline Service and the Information Commissionerindicates that your retention of contact details in the form of acorrespondence address is sufficient to fulfil contractual obligations.

This request supersedes any contractual provision that you may claim exists,and any attempt to claim otherwise will not be accepted or tolerated.

Under the DPA you have 21 days to respond to this request, and 28days to cease processing and/or remove the data from your systems. Futureuse of my telephone number will be recorded and will indicate a breach of myrequest under the DPA, this will result in a complaint being raised withthe Information Commissioner.

You will be deemed to have been served notice of my request and I will deem itserved by (FULL DATE), I am advising you that any calls received after thisdate will be recorded with the intention of them being used as evidence.

Iawait your response to this request

Yoursfaithfully,

Hopelessly_Hopeful

Time_to_face_the_music wrote: »

Another Aldi fan here. We are lucky enough to have an Aldi and Lidl which are very close to each other. Will be visiting both later today.

Not more loo rolls surely?!

HHx

Hopelessly_Hopeful

Bettingmad wrote: »

Thought the below may be useful for those embarking on a DMP who are worried about telephone calls. I was trawling through my documents that I sent off at the beginning of my DMP and saw this. I sent them off by recorded delivery to all my creditors.
Ensure you get an acknowledgemnt that they will comply. If not then a follow up complaint that they have not responded to your lawful request.


FAO Data Controller of (creditor/DCA) - Section 10 notice under the Data ProtectionAct 1998

I withdraw my consent (under s.10 of the DPA) for you to process mypersonal data with respect to my personal or work telephone numbers registeredwith you or stored on your systems/records.

The processing and use of these numbers will cause significant distress to mein view of my current situation

Advice from The National Debtline Service and the Information Commissionerindicates that your retention of contact details in the form of acorrespondence address is sufficient to fulfil contractual obligations.

This request supersedes any contractual provision that you may claim exists,and any attempt to claim otherwise will not be accepted or tolerated.

Under the DPA you have 21 days to respond to this request, and 28days to cease processing and/or remove the data from your systems. Futureuse of my telephone number will be recorded and will indicate a breach of myrequest under the DPA, this will result in a complaint being raised withthe Information Commissioner.

You will be deemed to have been served notice of my request and I will deem itserved by (FULL DATE), I am advising you that any calls received after thisdate will be recorded with the intention of them being used as evidence.

Iawait your response to this request

Yoursfaithfully,

Strong powerful words

Thank you!

HHx

Hopelessly_Hopeful

Back_on_budget wrote: »

So I sent the email last night... Let's wait and see what happens. I'm not letting myself get too hopeful, as Lloyds have been a pain to deal with all along, but if they agree to repay the interest they've charged since we went on the DMP, it will shave another 5% off of out remaining debt.

Looking back at the numbers, I wish we had never taken that loan! Even before being on the DMP, we had paid £9k in interest in 2 years, with 8 years left to run on te loan. The loan itself was only £15500!

Hindsight is a wonderfully thing!:rotfl:

It is indeed. Scary when you look at how much 'profit' they make isn't it.

I keep every statement. At some point I am going to calculate all the interest I have paid to further incentivise me not to take on credit again!

(Well all but I need want a mortgage - well ish!)

HHx