DMP & Mutual Support Thread - Part 9

Hopelessly_Hopeful

Pickle29 wrote: »

Hello all,
Question for you experienced DMP ers....
4months in and got a letter yesterday from GE money, (background- they are still charging us interest (which is more than the monthly amount they are getting from SC, so we have put the FOS on them))
Anyway they have defaulted us (good I thought) but the letter says further action they intend to take
1 they will issue proceedings in the courts for a order as a result Of our default
2 the lender may bring proceedings in the courts for the balance of the total loan and interest outstanding
It then goes onto say about court judgements, paying interest on top of the loan etc and it advises getting a solicitor or speaking to CAB!
I can't speak to SC until Tuesday , has anyone any advice? Is this standard? Our other defaults don't mention court? I am very worried and though we were over the worst (4 months in!!!)

Thanks

Hiya


There is the potential the case may go to court. If you search back pages on here though you will hopefully be reassured to hear the courts always come down in your favour rather than creditors and order them to stop interest etc. You have a good track record of showing you are trying to pay and going through a recognised source. Probability is they wont take you to court because it costs them. They will get a slap from the judge and made to pay you the interest back too. I suspect its just a standard letter.


Hope that helps and you get a quick resolution to the issue.


HHx

Time_to_face_the_music

Twit_Head wrote: »

Got a big 60 birthday next week and have turned into a doddery old fool as can't remember how to insert emoticons now but a big SMILE to you all!

Have a wonderful birthday Twitty and please come back and visit us sometimes

Hopelessly_Hopeful wrote: »

Yes GUO, fond wishes to all with Welsh connections. I hear Welshmen make good lovers so that dragon must be firing out testosterone.

Mr TTFM is Welsh and the rumour is true .... he's not ginger though so don't be getting any ideas twin :rotfl:

Your signature is looking amazing, so close to that DFD you can almost reach out and touch it :T

Pickle29

Hi HH
Thanks for your quick response, I really hope so. I just don't understand why someone would take it to court when they know our situation and are getting what We can afford? What is the benefit to them for taking it to court?

I will ring Sc when I can on Tuesday and I will let you know how I get on
Thanks x

Time_to_face_the_music

Pickle29 wrote: »

Hi HH
Thanks for your quick response, I really hope so. I just don't understand why someone would take it to court when they know our situation and are getting what We can afford? What is the benefit to them for taking it to court?

I will ring Sc when I can on Tuesday and I will let you know how I get on
Thanks x

If you are a home owner, the benefit could be going for a CCJ then a charging order, so if you sell your home they are guaranteed to get their money.

Pickle, I know it's really tough to do sometimes but have you spoken to GE?

I am not saying this is not a serious threat and GE won't do it but Lloyds TSB send me letters like this every single month and 25 months down the line, they have not taken me to court or even defaulted me.

If you can build up the courage to do it, I really would recommend speaking to GE, then speaking to SC.

Pickle29

Hi TTftM
The Ge debt is actually in hubbies name so they won't talk to me! but he could ring them Tuesday as you suggest but what would he say? the same as before, ie we are with SC, on a DMP etc etc The letter doesn't say to get in touch with them just a solicitor - I'm not sure what we would say to them?
Help!

Time_to_face_the_music

Pickle29 wrote: »

Hi TTftM
The Ge debt is actually in hubbies name so they won't talk to me! but he could ring them Tuesday as you suggest but what would he say? the same as before, ie we are with SC, on a DMP etc etc The letter doesn't say to get in touch with them just a solicitor - I'm not sure what we would say to them?
Help!

Very often the "solicitor" is an in house debt collection company, for example, Lloyds TSB use the name SCM solicitors to send out their threatening letters.


Your husband can authorise you to speak to them, it just depends which of you feel comfortable doing it. Mr TTFTM hated speaking to creditors at the start of our DMP but now he loves doing it!


What have the FOS said or done? Or are they still dealing with it? It may be worth giving them a call too and telling them what is happening as if the case is still in progress, they need to be kept up to date.


Not sure if it helps but this is the wording in the letter I get every month from either Lloyds TSB or their "solicitor" SCM:


"What we will do if you do not correct your breach?

We will automatically terminate our agreement with you.
We will demand immediate payment of the total balance owing under the agreement, not just the arrears set out above.
If your account conditions allow, we may also transfer money from any other accounts you may have with us to reduce the outstanding debt.
If payment of the total balance is not received. we may seek to recover it by instructing a debt collection agency and/or taking legal proceedings against you.
You should be aware if we take you to court and get a judgement against you requiring you to pay the money you owe us under the agreement, you may have to pay us both the amount of the judgement and interest under the agreement on all sums owed by you at the date of the judgement until you have paid these off in full. This means that even if you pay off the whole of the judgement, you may still have a further sum to pay."


There is loads more blah blah and lots of capitals, bold font and underlining in the threats! Whenever I phone Llloyds TSB, they say oh that is just a standard letter, as long as you are paying us something, you can ignore it :mad:

Monkeyballs

Pickle29 wrote: »

Hello all,
Question for you experienced DMP ers....
4months in and got a letter yesterday from GE money, (background- they are still charging us interest (which is more than the monthly amount they are getting from SC, so we have put the FOS on them))
Anyway they have defaulted us (good I thought) but the letter says further action they intend to take
1 they will issue proceedings in the courts for a order as a result Of our default
2 the lender may bring proceedings in the courts for the balance of the total loan and interest outstanding
It then goes onto say about court judgements, paying interest on top of the loan etc and it advises getting a solicitor or speaking to CAB!
I can't speak to SC until Tuesday , has anyone any advice? Is this standard? Our other defaults don't mention court? I am very worried and though we were over the worst (4 months in!!!)

Thanks

Hello Pickle

It sounds like a "standard" letter that they would send out so personally I wouldn't worry about it just yet but it's definitely worth speaking to SC and then the creditor.

Few questions for you, you mention that you're 4 months into your DMP - how many actual payments have been made? Is it 4x full payments or a couple with token payments and a couple of full?

Secondly, when you set up the DMP did you (or your OH) call and speak to them directly or did you rely on SC contacting them?

I only ask because if the first couple of months were token payments followed by a wait of another month when SC made a first payment then the letter could have been in the pipeline before the DMP came into effect?

Also, are you 100% that they know of the DMP? I only ask because Barclaycard claimed to not know about me entering into a DMP despite a letter from both SC and myself and were charging me fees and full interest until I called them...

I'm an advocate for speaking to your creditors because it feels like you are more in control of the situation and by speaking to someone and recording the persons name, date and time of the call and any 'notable' comments you have something to refer back to

MB

Growurown

Hopelessly_Hopeful wrote: »

Yes GUO, fond wishes to all with Welsh connections. I hear Welshmen make good lovers so that dragon must be firing out testosterone.

Oh drat, mine's English:(

Enough_Now

Hi all

A quick update on my approach to three creditors re. stopping interest.

Letters posted off mid-week, phone call yesterday morning from one of them. Very pleasant chap who explained their position re. DMP when monthly payment is more than required minimum.

No reduction in interest being applied but they will refund the last twelve months, to help my situation. Better result than I expected, fingers crossed for the other two creditors!

It never hurts to ask, as you will be no worse off than you are already .

EN x

Pickle29

Monkeyballs wrote: »

Hello Pickle

It sounds like a "standard" letter that they would send out so personally I wouldn't worry about it just yet but it's definitely worth speaking to SC and then the creditor.

Few questions for you, you mention that you're 4 months into your DMP - how many actual payments have been made? Is it 4x full payments or a couple with token payments and a couple of full? 4 full months they have received from us via sc ( we went from normal payment in October and sc payment nov, dec, jan, feb

Secondly, when you set up the DMP did you (or your OH) call and speak to them directly or did you rely on SC contacting them?
yes my hubby spoke to them in October re stepchange and DMP and they were really nice, but I wrote to them to ask to stop interest and they replied twice saying no, in both letters we mentioned DMP -- which is why we have now contacted the FOS
I only ask because if the first couple of months were token payments followed by a wait of another month when SC made a first payment then the letter could have been in the pipeline before the DMP came into effect? [COLOR="rgb(255, 0, 255)"]i know what you are saying but that's not the cars with this [/COLOR]

Also, are you 100% that they know of the DMP? I only ask because Barclaycard claimed to not know about me entering into a DMP despite a letter from both SC and myself and were charging me fees and full interest until I called them...[COLOR="rgb(255, 0, 255)"] see above, yes [/COLOR]

I'm an advocate for speaking to your creditors because it feels like you are more in control of the situation and by speaking to someone and recording the persons name, date and time of the call and any 'notable' comments you have something to refer back to [COLOR="rgb(255, 0, 255)"]thanks, I just don't know what we will say when we ring, they know aboutDMP, we can't afford anymore, do we just say that? [/COLOR]

Many thanks, I will let you know how I get on x