DMP & Mutual Support Thread - Part 9

schmalf

Hi All

Just wondered who on here has experience of HSBC as a creditor, both CC and OD? I've had a few nasty letters from them and I think they will be the only ones trying not to play nicely with the DMP. What is everyone else's experiences? Also, although I have sent letters to them, I'm not convinced it's to the correct address as they don't give you any postal addresses anywhere!!!!! Obviously so you HAVE to phone them. Does anyone have an address which they have had replies from? Many thanks Schmalf xx

Puzzcat

schmalf wrote: »

Hi All

Just wondered who on here has experience of HSBC as a creditor, both CC and OD? I've had a few nasty letters from them and I think they will be the only ones trying not to play nicely with the DMP. What is everyone else's experiences? Also, although I have sent letters to them, I'm not convinced it's to the correct address as they don't give you any postal addresses anywhere!!!!! Obviously so you HAVE to phone them. Does anyone have an address which they have had replies from? Many thanks Schmalf xx

Hi Schmalf, sorry they were no longer one of my creditors, they were one of the lucky one's that I had paid off and closed with one of my many consolidations! There used to be an A to Z list of creditor addresses somewhere on these forums but I can't find it. Maybe someone else knows where it's hiding?
I wouldn't worry about the letters they send and as long as Sc have made contact with them it will all sort itself out.
Puzz. Xxx

Meatloaf1981

I am currently going through the beginning stages of a debt management plan with WorkplaceOptions, a company that is basically affiliated with my company I work for but completely independent, if that makes sense? I owe about £34k to my creditors as follows:

Barclays Overdraft: £4800
Barclays Platinum Card: £3700
Barclaycard: £5550
MBNA Credit Card: £4550
Virgin Credit Card: £3000
Sainsburys Loan: £3450
Credit Union: £9050

Now, the DMP being setup has worked out a fair way to pay each of my creditors, costing me about £225 a month from my net income but I have today had a default notice from the credit union saying I have 7 days to reply before they instruct a solicitor or a collection agency. I have emailed this letter to my dedicated handler at Workplace Options and queried what I should do, but now I am really worried and likely not to be able to sleep tonight. I have also emailed the Credit Union to state I am going through a DMP, something I have already informed them of and that they are aware of and that Workplace Options should be dealing with my finances relating to this matter.

I'm really worried by this letter and am basically looking for some reassurance or thoughts from you guys as to whether what is happening seems right to you or whether something is going seriously awry.

Monkeyballs

Meatloaf1981 wrote: »

I am currently going through the beginning stages of a debt management plan with WorkplaceOptions, a company that is basically affiliated with my company I work for but completely independent, if that makes sense? I owe about £34k to my creditors as follows:

Barclays Overdraft: £4800
Barclays Platinum Card: £3700
Barclaycard: £5550
MBNA Credit Card: £4550
Virgin Credit Card: £3000
Sainsburys Loan: £3450
Credit Union: £9050

Now, the DMP being setup has worked out a fair way to pay each of my creditors, costing me about £225 a month from my net income but I have today had a default notice from the credit union saying I have 7 days to reply before they instruct a solicitor or a collection agency. I have emailed this letter to my dedicated handler at Workplace Options and queried what I should do, but now I am really worried and likely not to be able to sleep tonight. I have also emailed the Credit Union to state I am going through a DMP, something I have already informed them of and that they are aware of and that Workplace Options should be dealing with my finances relating to this matter.

I'm really worried by this letter and am basically looking for some reassurance or thoughts from you guys as to whether what is happening seems right to you or whether something is going seriously awry.

DANGER! DANGER! DANGER!!! Do workplaceoptions take a fee or %age of your repayments???

If yes - ditch 'em and go Step Change or another free provider...

If no - DANGER AVERTED! DANGER AVERTED! DANGER AVERTED! LOL

In the first month you'll get all sorts of letters come through, let your provider know and make sure to CALL your creditor to pass on your DMP details (ref. and provider contact number) and let nature takes it's course

It's scary, it's stressful, it's probably all automated riff raff and nothing to lose any sleep over

Also, these things take a little time to get in place and running properly and there are loads of other people in the same boat as you so don't expect an immediate reply to any emails or letters you send so again, don't lose any sleep over a slow reply

Bit of homework for you though... What have you done to contact and update your creditors? Hmmm...

P.s. a creditor selling on a debt to a DCA is not always a bad thing as DCA's are usually very cooperative

MB x

Meatloaf1981

No fees, it's all above board and cost-free. I'll be sure to contact my remaining creditors and pass details of my DMP case-handler to try and speed things up a little then. Thanks for the reassurance!

Monkeyballs

Meatloaf1981 wrote: »

No fees, it's all above board and cost-free. I'll be sure to contact my remaining creditors and pass details of my DMP case-handler to try and speed things up a little then. Thanks for the reassurance!

Danger... averted

Good luck and all the best Meat

MB

Puzzcat

Meatloaf1981 wrote: »

No fees, it's all above board and cost-free. I'll be sure to contact my remaining creditors and pass details of my DMP case-handler to try and speed things up a little then. Thanks for the reassurance!

Having worked for LA for 25 Years I have only recently come across this scheme. I have a dmp with stepchange who I cannot recommend highly enough. For the the first time in 5 years my debt Is finally going down.

Sazzie23

Meatloaf1981 wrote: »

No fees, it's all above board and cost-free. I'll be sure to contact my remaining creditors and pass details of my DMP case-handler to try and speed things up a little then. Thanks for the reassurance!

Hi Meatloaf

Welcome aboard the DMP train...sometimes it flies and sometimes it comes to a grinding halt and reverses up, but as long as you keep paying:D and don't increase your credit :eek: it will get to the destination in the end.

Sorry I like pictorial metaphors so humour me :rotfl:

Basically it'll all happen in its own time, and sometimes its better to wait a month or two on token payments to get a little ahead on your savings so if :eek:disaster strikes with a boiler/car/ceiling leak etc etc you have a bit of a cushion and don't give yourself more sleepless nights. Not come across credit union debts in DMP talked about much here, but I guess it'll be just another creditor in the big scheme of things so try to relax.

Plenty of great advice from the folks on here, so stayed tuned

Mr_Mink

schmalf wrote: »

Hi All

Just wondered who on here has experience of HSBC as a creditor, both CC and OD? I've had a few nasty letters from them and I think they will be the only ones trying not to play nicely with the DMP. What is everyone else's experiences? Also, although I have sent letters to them, I'm not convinced it's to the correct address as they don't give you any postal addresses anywhere!!!!! Obviously so you HAVE to phone them. Does anyone have an address which they have had replies from? Many thanks Schmalf xx

We have both an overdraft and cc with HSBC. They've been one of our quietest creditors. Think they we one of the first to accept, froze all interest and charges on both accounts straight away too. I think they've sent the cc to their internal collections dept now too (hoping they'll sell it on).

The only problem we had was that they wouldn't accept our signatures from PayPlan so we had to go into a branch and update them.

spendaholic

After a sticky start, StepChange will be starting my new plan with me on 1 April.

I had problems getting all of my information back from a previously paid for DMP company who closed my account last June but only told me this 2 weeks ago. Three times I had to ask them for my file, which had some accounts on I'd not heard from in over a year. After saying they'd sent the info out on 20 Feb, it finally arrived on Tuesday of this week ...

The other problem I had was being self-employed but not with any single client. I can't really accurately project my income, because it depends on amount of work, how much they pay and if/when they pay. And previous bank statements didn't really support the estimated projected figures I can now come up with with new work coming in.

And then the original company actively tried to put me off going with StepChange and staying with them, saying their £80 a month (which includes their £32.50 charge) is more realistic than StepChange's £45 a month. Erm, excuse me, but as SC don't charge a monthly fee, isn't that roughly the same?

Anyway, the plan's up and running now, finally, with my first payment due in April.

Onwards and upwards, and good luck to everyone else just starting out, again or for the first time. :T