DMP & Mutual Support Thread - Part 9

dad2one

BTW I expect my DMP to run about five years. That sounds great. All my debts gone in five years! Even if I could afford the debts I have without going to DMP I would have been looking at 7 - 10 years, and I'd have probably kept borrowing!
For me, no more debt again, ever.
Good luck all, and thanks for the solidarity.

Allypops

Ellieseleven wrote: »

M&S have washed their hands of me and passed me on to Idem Capital Securities but I see this as a positive thing as I was worried about getting close to minimum payments and interest being re-instated.

I think M&S must have been having a sell-off. I had a letter this morning. My CC debt has been sold on too but to M00rgate rather than Idem.

Apparently, they have notified PP of the changes so nothing for me to do except keep on plodding!

Mossop01

Hi all weird letter from mint today, ignoring dmp correspondance, but letter is informing me of missed payment (eeerrr i know) requesting payment now, its doesnt say its a default notice but a "notice as required by consumer credit act 1974 because you are behind with your payments" it doesnt really tell me anything else i didnt already know so what was the point sending it? Is it a default notice or not? It doesnt actually say...

Growurown

Mossop01 wrote: »

Hi all weird letter from mint today, ignoring dmp correspondance, but letter is informing me of missed payment (eeerrr i know) requesting payment now, its doesnt say its a default notice but a "notice as required by consumer credit act 1974 because you are behind with your payments" it doesnt really tell me anything else i didnt already know so what was the point sending it? Is it a default notice or not? It doesnt actually say...

Doesn't sound like a default letter. It's probably a computer generated letter automatically sent as you missed the payment. Mint stopped interest for me and have been really easy to deal with so hopefully they will do the same for you. I didn't get many letters regarding my DMP when I started out. It was almost as though they couldn't be bothered to communicate anything!

Mossop01

Thanks growurown thats really encouraging lets hope mint do the same for me. Thanks

Allypops

Mossop01 wrote: »

Hi all weird letter from mint today, ignoring dmp correspondance, but letter is informing me of missed payment (eeerrr i know) requesting payment now, its doesnt say its a default notice but a "notice as required by consumer credit act 1974 because you are behind with your payments" it doesnt really tell me anything else i didnt already know so what was the point sending it? Is it a default notice or not? It doesnt actually say...

Sounds like a standard arrears notice, a default notice is clearly marked and may follow in time. I think it is just something that is auto generated and required by the consumer credit act or similar. Nothing to worry about. Some creditors don't seem to acknowledge the DMP but you might still find when you get your next statement from them that interest has been frozen or at least reduced. Unfortunately, it can take time to work out whether creditors are going to play nice or not! It would really help if they would all acknowledge the DMP in writing and clearly explain what they are going to do but they don't all do that. Some do, some dont and some seem to want to make the whole thing as painful as possible (L1oydsTSB, I mean you :mad:).

Growurown

As there are lots of newbies starting I know the one thing we get most anxious about is whether creditors will stop interest, I thought I would post my creditor list. I have posted it before but with so many new DMPers joining I thought it may help set some minds at rest.

All the below stopped charging within a few months of starting the DMP

MBNA Virgin cc (OH's) now passed onto Aktiv Kapital
MBNA Virgin cc (mine) now passed onto Aktiv Kapital
Asda storecard (Santander)
Tesco cc
Mint cc
Nat West cc
Capital One cc
Nat West Loan now passed over to Moorcroft
Intelligent Finance loan now passed over to BOS
Halifax cc (mine) now passed over to BOS

The only accounts being charged are a Halifax CC belonging to OH and bank overdraft. I think my Halifax cc, because it only had a small amount on it, got passed to BOS and so there is no interest or charges on that one now. We have two bank accounts both with overdrafts one for over 2K and the other was £800. We don't get charges for the small one but they are charging us for the bigger one. I asked why the difference and they said it was something to do with cut off points. Under a certain amount you don't pay and over that amount you do pay. The fact that they treat them differently when the money is owed by the same person, with the same amount of resources seems daft.

Mossop01

Hi growurown, that is really useful info
Mine are
Hsbc OD x2 (not acknowledging dmp yet)
Mint ( not acknowledging dmp yet)
Barclaycard (acknowledged dmp but deciding on whether to freeze interest)
Barclays partner finance (interest frozen 12 months)
Mbna ( frozen interest immediately for duration)
Hsbc credit card and loan ( not acknowledging dmp yet)
Littlewoods (acknowledged dmp but not frozen interest)

It's early days yet, so I'm not too worried, although sometimes get confused by jargon letters which don't really tell me anything I don't already know!

Mossop01

Thanks allypops it seems like they all have different ways of dealing with it, and mostly don't communicate within departments. I'll keep plodding on and writing more letters til hopefully they start getting so sick of me they act more promptly!

Hopelessly_Hopeful

Mossop01 wrote: »

Thanks allypops it seems like they all have different ways of dealing with it, and mostly don't communicate within departments. I'll keep plodding on and writing more letters til hopefully they start getting so sick of me they act more promptly!

Will stand you in really good stead if you have to say to FOS I contacted them on x, y and z and no response. You will have a very good case.

HHx