Dmp Mutal Support Thread (Part Two)

dreamer999

Good morning

Hope you are all having a good bank holiday weekend.

Bowz Sorry to hear you have had so many unexpected bills at the beginning of your DMP and well done for not putting it in your CC. I found it really hard to budget at the beginning. I am on month 5 in September so about the same as you.

Craftingqueen My Great Universal a/c was passed to Moorcroft a couple of months ago and the letters state pre-court division. As worriedmart says I think it is to scare you into ringing them/paying more. Sorry to hear about the car.

All quiet re the DMP. At last the sun is shining (it rained all last week). Last week of the school holidays. I can't believe that. I think DD is keen to get back to school now as she misses her friends. DS starts nursery in September mornings only. He has only just turned 3 and doesn't look old enough. DD is moving up to Junior School so its school uniforms all round here.

dreamer999

Good morning

Just noticed nobody has posted since my last post yesterday morning - hope you are all okay.

Will drop in again later.

Boltonbwfc

Hi all

I have a mortgage with C&G and they are being taken over by Lloyds TSB on the 1st October 2007: I have read the important information leaflet and I am very concerned about the below section: As I have 2 other debts with Lloyds TSB and these are in my DMP will it now effect my mortage? I am worried!

PLEASE READ:

When you take out a credit or loan agreement, it may include a clause which means that if, in the future, you default on the payments due under other agreements you may have with that lender, the loan you are taking out will also become repayable, even if your payments on it are up-to-date at the time. Again, the date your C&G mortgage starts affects the position:

If your C&G mortgage starts before 1 October, defaulting on your mortgage payments will not result in a requirement to repay any other loans or credit agreements you have entered into with Lloyds TSB before 1 October. However, defaulting on your mortgage in the future could mean that debts you take out with Lloyds TSB on or after 1 October become immediately repayable in full. But defaulting on loan or credit agreements you have with Lloyds TSB, whenever you entered into them, will not result in a requirement to repay your mortgage.

If your C&G mortgage starts on or after 1 October, then defaulting on it in the future could mean other Lloyds TSB debts, whenever you entered into them,will become immediately repayable in full and defaulting on other Lloyds TSB debts you have, whenever you entered into them, could mean your mortgage becomes immediately repayable in full. This will depend on the terms of the individual agreements.

Anyone else got C&G mortgages and on a DMP with other Lloyds TSB debts?

craftingqueen_2

Hi BWFC

We are in the same position as you are we have 4 debts with Lloyds, and a C&G mortgage.My daughter helped me with this question over the weekend.What she said to me was that (she thinks) if the mortgage was taken out with C&G before the 1st october this should not effect old customers with C&G mortgages,it's people who take out new mortgages after this date then default on any Lloyds debts that may affect them, and new loans after 1 October; if they have a clause in a loan saying that it can be secured.This is the quote in the leaflet that was enclosed with the letter:-

"However the Court Order will provide that after the transfer Lloyds TSB will not exersize these rights : to trigger a default under a morgage originally mage with Cheltenham and Gloucester plc where you have defaulted under a credit or loan agreement originally entered into with Lloyds TSB before 1 October (2007) or you have defaulted on a credit or loan agreement entered into with Lloyds TSB Bank plc in or after 1 October which does not specifically state that it is to be secured by a mortgage."

CQ

bowz25

hi all
we are with cheltenham as well for mortgage and 5 of our debts with lloyds as well.
I am trying not to worry it at the moment, its one more thing to make me go grey!! Even if they make you release equity or whatever they do it would still mean you owe them the money so it would not help in the long run. They might be able to go for charging order but i think that only effects when you sell your property. Also as i have found with Lloyds a lot of the departments dont seem to interact together as i have a 6 month agreement with them but keep getting letters from another dept who dont seem to know that.
Hope that makes sense. I found the wording of the letter from c&g very confusing.
My only worry is fixing the rate again next april when on a dmp. I am sure others are in same position as this.

take care all
bye for now.

CATH_3

Hello again. Not posted in a while--but been on the site most days. Anyway I need Help and advice!!!
I,ve just had to reduce my payments to Payplan from £240 per month to £96 per month- my overtime has finally come to an end and I couldn,t cope any longer paying £240. Now I,m worrying that my creditors will be funny about the vastly reduced payments. Has anyone been in a similar situation??I started the DMP about 5 months ago. I owe about £17000 to Barclaycard, Barclaycard Loans, Halifax and Capital One. Most of them have stopped interest and my phone at home is silent again-- touch wood!

yellowmonkey

Hi.

Just popping in to say hello. Nothing to report DMP wise and going shopping tomorrow for the groceries and on Friday the dreaded shop for school shoes.

Hope you are all well.

ym

amani_2

Hi everyone just wanted to say hello.

CATH I have just had a review with CCCs we have been on our DMP for 5 months. We have just had our payment put up fron £224 to £590 due to my hubby getting work as far as we know it is only a 6 month contract but they may take him perminant. I explained this to CCCs when we had the review and ask how the creditors would react if the payment went back down, the lady said she would put on my notes that the contract was for 6 months so the payment may go back down after this. hope that helps

YELLOWMONKEY I am going on the dreaded shop for school shoes tomorrow, 2 boys 13yrs and 14yrs wont wear anything without a name on!!!

ilovegreatdanes

hi,
just called to say i love you.......no, i mean hello.really busy lately.dh just booked a hol next may to alcudia...yes, knows how im fixed.so im quidco-ing like mad and trying to find some extra dosh from somewhere...god help me!!!will need the hol at this rate or will be cancelling the hol for my funeral.
thinking of you all, love ilgd xx

yellowmonkey

Hi amani. Long time no hear. Glad to hear you are well and your financial situation is improving. Even for only 6 months that should make a good size dent in your debt.:T

ilgd. Alcudia. You will love it. Went last year and had a great time. You will come back singing cheesy songs like Rolf Harris 'the court of King Caractucus' . Still have not sussed out the moves yet :rotfl: :rotfl:

http://www.youtube.com/watch?v=-T2j619GMXc. He is a profesional.

Try this one for a drunken version and check out the 2 in the background

http://www.youtube.com/watch?v=vF4sRyNP3UQ

Damm i now have this song in my head now

ym