Dmp Mutal Support Thread (Part Two)

toasti

Hey folks just want your advice on something. I emailed Egg one of my creditors re the DMP and my appointment with the CCCS and this is what they replied:
Thank you for your message dated 25th May.

We appreciate that this is a difficult time for you but we are unable to assist you without first having a detailed conversation about your present circumstances. Once we have a full overview we can talk you through the various options available, please call us on 0845 6000 296.

Whilst we await further information from the CCCS, I will take this opportunity to advise you of the action we will take in the long term.

Once your account is in arrears we will issued your account with a statutory Default Notice, this gives you 28 days to bring your account up to date, after this time your account will be terminated. At this point the Default will be recorded on your credit file for a minimum of six years and will then look to review interest and charges.

In view of the information provided, if you have not already done so please destroy your Egg Card by cutting it along the magnetic strip and disposing of it securely.
Please also ensure that any attached subscriptions are cancelled with immediate effect.


Now...do I ring them or not? Am unsure..

Thanks

yellowmonkey

toasti.

Had the same thing with EGG. I did not phone them. I sent a secure mesage via their website thanking them for replying to my letter. I explained to them that i had cut up my card and that Payplan will be contacting them shortly. Do not phone them. They will try to persuade you to pay more. They have all the info they need at the moment and i would leave it at that.

They will issue a default notice but try not to worry. When you get them send a copy to CCCS and go from there. Your credit rating will be shot anyway on the DMP so i honestly would not worry. Egg ,so far, have been quite reasonable to deal with.

Good luck

ym

toasti

Hi YM thanks for that. I really do not want to have any contact with them by phone so will do what you've said:)
What exactly does a default notice involve? I'm really quite nervous about all of this...

yellowmonkey

Hi.

Not an expert on this but it is issued to you when you do not keep to the original agreement that you had with your creditor. I also believe it stays on your credit file for at least 6 years. Sorry that is a bit basic but i am sure an expert will be along at a later date.

I look at it that i do not want anymore credit anyway so to me it is just a piece of paper as i have gone through worse case scenarios in my mind several times.


ym

newlywed

toasti wrote: »

What exactly does a default notice involve? I'm really quite nervous about all of this...

I just got a letter from Mint saying "Default notice" - pay up in full or contact us within 14 days to arrange payments or it will go to Debt Collection. If you don't pay or make arrangements, this will go on your credit rating for 6 years.

So I've written to them saying CCCS should have contacted them with payment proposals and they should have had the first payment already. I said if they haven't heard from CCCS then please can then respond to me so I can ask them to get in touch again.

My DMP will be over 5 years anyway and I don't care if they stop me getting credit for another year after that!! Don't want it anyway!!!

teecee152

Hello Everyone:D

Hope you all had a good Bank Holiday Weekend.

Ym - Good Luck with the grocery challenge, we all know how fab you are in the kitchen so you shouldn't have any problem!

newleywed - Well done on your bargains :T I thought I would go and do my big monthly shop on Sunday. I figured it was Bank Holiday Weekend and it would be really quiet..............How wrong can you be!!!! Never Again it was horrendous. Still saved me money because I couldn't wait to get out of there so whizzed round like a madwoman:rotfl:

ILGD - I love your humour too! you always succeed in making me smile:T It is very easy to get consumed by dealing with our debts, sometimes it does you good to have a laugh and just share a bit of humour with people you feel comfortable with. If it wasn't for this I'm sure I would have gone mad by now.
Good Luck with your CCCS review,:D

EX - Lovely to hear from you, hope you are well and not too stressed. Go for it with the bank charges Good Luck!!!

toastie - Because I am a coward I would write to them, giving your I and E details, your CCCS reference number etc...
Your situation sounds exactly like mine. A default is normal standard practise that happens after you have missed your contractual payments. I also received a letter telling me my Bank (CO-OP) were closing my account, issuing a default and requesting my cheque book, cards etc to be returned immediately. By starting on a DMP you are automatically breaking your credit agreement and so become defaulted.
Don't worry about it too much it is all par for the course!

Hope everyone else is well,

Nothing much happening in teecee world. All my creditors have accepted my DMP and the calls and letters have stopped. I am not gloating but trying to assure all of those just starting their DMP journey that it does get better, it just may take some time. There will be times when it all looks hopeless, but you have taken the huge brave step of beginning to deal with your debts, be very proud of yourselves!!!!

You will all get there in the end and just think how fabulous your lives will be when your Debt Free Date arrives and the money you have is yours!!!.

Good Luck Everyone xx

newlywed

teecee152 wrote: »

newleywed - Well done on your bargains :T I thought I would go and do my big monthly shop on Sunday. I figured it was Bank Holiday Weekend and it would be really quiet..............How wrong can you be!!!! Never Again it was horrendous. Still saved me money because I couldn't wait to get out of there so whizzed round like a madwoman:rotfl:

To add to the madness, the branch I went has been completely re-arranged/muddled up so even the staff didn't know where everything was!!!

I did the biggest shop ever because I didn't want to have to go back - EVER!! :rotfl: Took me 4 hours to stop gritting my teeth!!!

Had such a nightmare with the shopping delivery services - orders not turning up, being an hour early, two hours late (11 pm!!), the last one the guy delivered less than half, assured me it was all of it and then ran off. They couldn't get in touch with him for the next 2 hours to tell him to redeliver the rest!! By the time it came it was too late to roast the chicken (my favourite meal) so I was not happy.

Have a £20 off voucher from customer services as well as a £10 late voucher (Sainsburys) but not sure it's enough to tempt another order!!! Will have to find out if I can use both at once :rotfl:

toasti

Hi...Thanks for that am feeling a bit better. Replied to Egg on YM's advice am sending my letters out to the creditors later on.:rolleyes:
It is difficult not being able to talk to anyone about all of this I am too scared to tell my parents as they will hit the roof:eek: so am struggling on...
Am I right in thinking that payments to creditors can be increased (I am starting a 2nd job in Sept), which should decrease the length of the DMP?

teecee152

Yes you can increase your DMP payments, only do this if it is a guaranteed regular income as creditors may not take kindly to dropping the payments when they have been getting more. And will expect you to carry on paying the increased amount. You will have a review with CCCS after approx 3/4 months and then again once a year. The initial one is to see how you are coping with the new budget/arrangement. Then the yearly ones are to assess any changes in your circumstances and I and E.

If you go to the CCCS website, go to your budget and then use the debt free quicker calculator you can input the new amount and it gives you a new DFD. I do this every now and then as it really is amazing how a small increase (only £3 per month) can bring down the debt free date.

Hope this helps.

yellowmonkey

toasti.

As far as I am aware there is not a problem increasing your payments to CCCS/Payplan in regard to your DMP. The more you can throw at your debt the better.

ym