DMP & Mutual Support Thread - Part 9

blisteringblue

spendaholic wrote: »

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?

You've made a good decision. These sort of Jokers make me laugh. So you are now £35 a month better off and they tell you that you are doing the wrong thing because you are not sending them this money. Classic

blisteringblue

1st 2 creditors (same company but MBNA and Virgin credit cards) have agreed our payment plan and frozen interest. :beer:

Not quite sure I understand their working though, they say our payments are due early March and we already tokened these. They then expect a payment every 30 days of our agreed stepchange plan? However this will not come until 25th April? So I was going to just send another small token early in April. Is this enough? Or are they basically looking for our full payment plan payment?

I like how their reduced payment plan option works though. As long as we pay off the debt within 60 months it sounds like they won't change any interest? They do make a big point in the FAQ of saying this will be reflected in the lifetime of our agreement until the balance is paid and then for up to 6 years afterwards? Does this mean they are not going to default us? What are others finding with MBNA?

schmalf

blisteringblue wrote: »

1st 2 creditors (same company but MBNA and Virgin credit cards) have agreed our payment plan and frozen interest. :beer:

Not quite sure I understand their working though, they say our payments are due early March and we already tokened these. They then expect a payment every 30 days of our agreed stepchange plan? However this will not come until 25th April? So I was going to just send another small token early in April. Is this enough? Or are they basically looking for our full payment plan payment?

I like how their reduced payment plan option works though. As long as we pay off the debt within 60 months it sounds like they won't change any interest? They do make a big point in the FAQ of saying this will be reflected in the lifetime of our agreement until the balance is paid and then for up to 6 years afterwards? Does this mean they are not going to default us? What are others finding with MBNA?

Hi BB, I shouldn't worry about this, MBNA / Virgin sent me a similar letter after agreeing the DMP, I just paid a £1 token until the first DMP payment was due. It confused me a bit too. If you want you can send them a message through the online banking telling them what you are doing - they are really good at replying to these. Ive found them to be very helpful.

News from me today, Halifax have passed my account to Apex, don't think its defaulted yet though. So rang Apex today to give them the SC ref number. They were fine and perfectly nice to deal with. They are putting the account "on hold" until they get contact from SC, so in the meantime I am also going to send them the on a DMP, no interest or fees please letter.

Still worrying about HSBC.

Schmalf xx

schmalf

Mr_Mink wrote: »

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.

Hi Mr Mink, thanks for your reply. Opposite for me, HSBC don't seem to want to accept my DMP, either on the CC or OD. They have sent me an aggressive notice of default for the CC and an "as we have failed to agree an acceptable payment plan we will be withdrawing the OD demand full payment etc etc" for the OD. Its a bit depressing as they are my biggest creditors - hoping they just pass the debt on to a DCA but feeling a bit worried about them issuing a CCJ or something. They did the same to me about the signature, think its just delaying tactics personally. Hope it will all come out in the wash anyway. Did you ever have a postal address for them that got a response? Thanks, Schmalf x

Puzzcat

schmalf wrote: »

Hi BB, I shouldn't worry about this, MBNA / Virgin sent me a similar letter after agreeing the DMP, I just paid a £1 token until the first DMP payment was due. It confused me a bit too. If you want you can send them a message through the online banking telling them what you are doing - they are really good at replying to these. Ive found them to be very helpful.

News from me today, Halifax have passed my account to Apex, don't think its defaulted yet though. So rang Apex today to give them the SC ref number. They were fine and perfectly nice to deal with. They are putting the account "on hold" until they get contact from SC, so in the meantime I am also going to send them the on a DMP, no interest or fees please letter.

Still worrying about HSBC.

Schmalf xx

Hi Schmalf, Halifax also sold my debt to Apex who I also found very nice. They confirmed there would be no interest on the life of the debt and in fact the debt is now showing as default on noddle so all good. Maybe save yourself a stamp..


I just amended the account details on my sc debts and all has just continued on smoothly...

schmalf

Puzzcat wrote: »

Hi Schmalf, Halifax also sold my debt to Apex who I also found very nice. They confirmed there would be no interest on the life of the debt and in fact the debt is now showing as default on noddle so all good. Maybe save yourself a stamp..


I just amended the account details on my sc debts and all has just continued on smoothly...

Hi Puzz - just posted on your diary! Thanks for the reply - they didn't confirm the no interest stuff to me on the phone so feel that I should send the letter as a double whammy - hopefully mine will follow the same path as yours. Is your DMP payment to them less than your original min payment - mines about half the min payment. S x

Mr_Mink

schmalf wrote: »

Hi Mr Mink, thanks for your reply. Opposite for me, HSBC don't seem to want to accept my DMP, either on the CC or OD. They have sent me an aggressive notice of default for the CC and an "as we have failed to agree an acceptable payment plan we will be withdrawing the OD demand full payment etc etc" for the OD. Its a bit depressing as they are my biggest creditors - hoping they just pass the debt on to a DCA but feeling a bit worried about them issuing a CCJ or something. They did the same to me about the signature, think its just delaying tactics personally. Hope it will all come out in the wash anyway. Did you ever have a postal address for them that got a response? Thanks, Schmalf x

Consistently inconsistent, best way to describe creditors. According to my PayPlan file our overdraft debt is at the branch address. The CC address is:
PO Box 5338
Coventry District Service Centre
Binley Business Park, Harry Weston Road
COVENTRY
CV3 9FR

Not sure if that helps or not. On the plus side, if they remove your overdraft, my understanding is that means they can't add any more interest or charges to it which is a plus. And if they do try and get a CCJ it has the same drop off time from your credit file as a default and the courts won't make you pay more than you can afford to so they've not got much to work with.

Puzzcat

schmalf wrote: »

Hi Puzz - just posted on your diary! Thanks for the reply - they didn't confirm the no interest stuff to me on the phone so feel that I should send the letter as a double whammy - hopefully mine will follow the same path as yours. Is your DMP payment to them less than your original min payment - mines about half the min payment. S x

I'm sure it will be the same for you, sounded like standard practice not just because I'm special:D My dmp payment was about 60% of the min payment which was why I was surprised Halifax didn't charge me interest.
Sounds like it's all going in the right direction for you.

Jambutties

hi sorrey if im being thick but is a dmp a way to make payments to peolpe which are not the full amount/

a freind told me to spaek to some thing called spare change but i dont find them in google so wondered if some one no's them?

Jambutties

hi its ok someone on another thing sied its spare not step ha ha thanks any way