Dmp Mutal Support Thread (Part Two)

coochycoo_2

Hello Everyone

I am sooooooooo glad to have found this thread. I would very much like to join in if theres room for one more.

We have just started the dmp process with payplan. My OH is doing all the liaisng but we share the worry 50/50. We have just got the budget back from them and the proposed payments are £400pm towards £70K unsecured debt with 7 creditors.

What happens if our creditors say no? We are both stressing about this.

These are our creditors:

Aliiance and Leicester x2 loans
Co-op - loan
AA - loan
Citibank - cc
Morgan Stanley - loan & cc
MBNA - cc
Nationwide - cc loan & overdraft

What has been your experience with these creditors?

I see from very early on in the thread Bluediamond had success with a hassling creditor by informing the Financial Omsbudsman. Has this worked for you or did something else work?

I know its all probably been discussed before but I could not read all of the thread, theres a queue for the pc with the kids needing it for homework etc. I could not sleep again so got up and decided to ask you guys the answer.

I am full of trepidation re: nasty calls. I am worried sick, my OH is so stressed out its the first time in 25 years I have seen him like this. I wish I could fast forward our lives past this yucky stage.:eek:

I know we have ourselves to blame and we want to pay it back hence the dmp. No use reliving past mistakes. We are tackling this head on but I can't shake that hollow despairing feeling thats settled in my chest.

Sorry for going on, I just wanted to prepare myself for the creditors reactions and hoped your experiences could anticipate the type of reaction we are likely to get.

dreamer999

Good morning

Of course we have got room for you Coochycoo Well done on posting.

I am currently on a DMP with CCCS and am making reduced payments inc to A&L and Citibank. Most of my creditors have accepted reduced payments and frozen interest and charges (Citibank done this after receiving 2nd payment from me so initially my debt to them increased but after stopped charging me now). Don't know about your other creditors but i'm sure someone will be along shortly to help.

I think we have all worried about not accepting but if you are dealing with a non-fee charging DMP company such as CCCS and Payplan your creditors know you are serious about paying back your debt. When they have your budget from Payplan they will see you are treating all your creditors fairly and they are getting their faire share most creditors accept. One of mine, Barclays loan, rejected my offer and passed to DCA but it seems DCA's generally accept reduced payments as they have bought debt for next to nothing.

Personally I haven't had much trouble with telephone calls harrassing me but I know others on here have. I believe there is a letter you can send asking them to communicate with you by letter only. If this happens i'm sure someone on here will know what to put in letter to them to stop calls.

Try not to worry (I know it's easier said than done).

Dr_Jekyll

coochycoo, hi to you this morning. I have nearly all of the same banks as you . AA I don't have. Here is a quick summary as I need to go out.

Any ph. calls are nearly all sympathetic towwards you. They all respond to you being with Payplan. Give them your ref. no. Take their fax. no if they do not seem to receive stuff from Payplan and pass it on to Payplan.

Nearly all banks letters are computer generated and can be ignored or responded to by you with a simple ph. call. Usually they say not to worry about the letter. Their letters don't always match up with what they are doing. Most will prob. accept your reduced payments and even if they don't (eg MBNA for us) will continue accepting payments for a further 3 or 4 mths and then pass on to a DCA who are much more likely to accept lower payments anyway.

We have all felt like you emotionally but it will ease off. Do not pay any bank any extra amounts. They try this on saying it will save you being defaulted,etc. M. Stanley are bad like this. Stick with your payments to Payplan and you will begin to feel a lot better. Dealing with ph. calls is initially a pain but is still better than paying out loads of your money when you haven't got it. Talk later but must dash now.

John

katchambers

Hi everyone,

Right our new bank account is officially up and running now and we have our account details, they are also in the process of moving all our direct debits over from our old account.

We sent out all our letters to creditors on saturday, so I expect all the nasty letters and phone calls to happen this week. Because I read the previous thread before I embarked on the DMP I took the advice of ringing all our creditors and telling them a fake home number but my real mobile and putting mobile on silent so I can decide whether to answer or not, so shouldn't get calls to my house.

I am feeling ok about it all at the moment, but I fear this is the calm before the storm.

How is everyone else doing?

Coochycoo - I also have £70k of debt with 6 creditors and we are paying £426 a month, so very similar situation to you. My advice, if you can't stay on the pc long enough to read through this thread or the old one why don't you print it out and read it. I have read about half of the previous thread which was started by 95kelly and it shows the journey of all those who began back then, how long it took for everyone to accept, how many letters and phone calls they got, what kind of responses they got etc. It is great to see that is does work out in the end and it also prepares you for what's to come.

Kat x

newlywed

Well my second DMP payment was distributed today. Looks like Mint are still charging me interest of £190 a month when my payment to them is now £170 a month :mad:

Anyone any ideas how I can get them to stop this? They have defaulted me already. Ignored every letter I've written to them- not even acknowledge it.

They also have ignored my letters to them about my loan - not even acknowledged I've changed my name, let alone anything about missed payments. They haven't even rung me!


So not every annoying creditor rings you :rolleyes:

On the other hand, one creditor has stopped interest temporarily, one has reduced APR to a third of what it was, so at least that's something.

The phone calls I got were annoying, not really distressing. Just took ages of telling them the same thing before it sunk in Others only took one phone call though.

Getting my car checked out today... cam belt's probably never been changed and the car's over 10 years old, and not so good so far as apparently it's been in some sort of accident and had new bonnet and wing at some point so getting the rest checked in case - don't need any more bills though so just hoping for the best. Half expecting it to go all pear shaped though


Oh yeah .. and my wages haven't cleared my account today so I have about £1.70 - no milk, no cereal, nothing to go in sandwiches - although I have half a loaf of bread. Thankfully I have some chicken to make a curry and some rice but it might be plain pasta for tea tomorrow - used all the tinned tuna, corned beef, beans, potatoes, carrots etc over the last few days. Might have some lentils which will pad it out a bit for an extra day and hopefully wages will clear tomorrow. (Electricity won't last much longer than Tuesday anyway)

in_debt_again_but_dealing_with_it

evening all - so many new members hello and belated welcome to you all. Sorry things not going to well for you newlywed - hope things get better soon!
Not much happening in my word although take a look at my sig I'm trying to quit!! Oh and my exams over too (yay), HSBC refunded the charges so the O/D is cleared now must let CCCS know. Take care all love and hugs
IDA
xx

PS: where have all the old founder members gone -me thinks we should have a reunion???

Boltonbwfc

Morning Everyone

Sent out my token payments last Friday and got an e-mail off EGG saying:

'You will be pleased to know that we received your cheque today, which will be used to reduce the balance on your Egg Card.'

1 down 4 to go!

Got my new debit card off Nat West yesterday along with the pack so will now get mine and my wife's wage details changed over from work to be paid directly into the new account.How long does a direct debit take to set up in a new account as I need to switch the ones from the Lloyds into the new account? Thanks in advance.

Trying to reduced the grocery bill this month (5 of us)but struggling with 2 teenagers and an eight year old who all like their 'grub'! I tend to buy most of the bulk monthly whilst going throughout the month for fresh produce. How does everyone else do their shop? Monthly? Weekly? Fortnightly? Thanks in advance for advice.

BWFC

newlywed

Mornin all.

Good news and bad news yesterday.

Good news: Car is fine - just needed cam belt and a few little bits (exhaust to be checked and replaced at later date due to £££).

Bad news: GE Money wrote in May to say they accepted my DMP and stopped interest. Bill arrived last night and they've charged me £160 interest!!! :mad: :mad: :mad: Tried to ring them but they are only 9-5 so will have to ring from work today :eek:

Gemmzie

newlywed Re:mint - they were awkward with us too, they've never officially written to accept the payments. After four months, they froze the interest, stopped charging PPI and the minimum payment now finally reads as the
amount we pay them.

newlywed

Thanks Gemzie. Well at least they might stop charging me in a couple of months then, that's something. :rolleyes:

With Mint and GE charging more interest than my payments I was beginning to think of an IVA

As for GE Money :mad: Rang the Financial Solutions Unit who sent the letter saying interest would be stopped. Got redirected by their phone system to someone who said I need to ring the Financial Solutions Unit and no they couldn't put me through or give my any other number :mad:

So I have to keep ringing the same number till I get through to the people I have actually rung and hope that they aren't busy and the call is redirected :mad: :mad: :mad: