Dmp Mutal Support Thread (Part Two)

SortingIt_2

Morning all

Hope everyone had a nice weekend. Went far too quickly for me!

Just wanted to say had a NICE letter from MBNA - very surprised given past experiences of some. Basically saying thank you for advising that I am in touch with Payplan and that they will await contact from them etc. Also just to say a bar on account which I would expect and to not use card. I was quite surprised as very worried. Not sure what future corresp will entail but at least I have a reply from them and it's not too bad.

Jwagent - sorry I can't help you here. Hopefully posting this will attract some answers for you.

Bowz25 - looks as if you are well on your way now in DMP. Keeping my fingers crossed that all the interest stops for you soon!

Miss_Marple_2

Hello everyone !

I'm after a bit of advice. I have been on a DMP with Payplan for about 30 months now. All had been going well.

However 3 of my creditors have started charging interest again. Should I try and ask for it to be stopped again ? Or do you only get one go

In particular Goldfish have annoyed me - I had a letter from them in June confirming another year of repayment plan, then when a statement arrived on Saturday, interest has been added (Just for October, it was still frozen before that), and they had never told me that this would be the case. Also, the repayment amount is now around £30 above the minimum payment amount - yet each monthly statement says that the higher amount is what I am expected to pay. I'm not saying I particularly want to go back to minimum payment, as I want to get it cleared, but I think it is a bit off to start charging interest without telling me, but then still holding me to higher payments than I would have been outside of the repayment plan.

Any suggestions ? Although, I do feel a bit better after a moan !

lonely_2

Hey Miss Marple! I haven't been on this forum for a while now - probably not for about 4-5 months - but I have been with Payplan since February. All the interest on my debts got frozen around June, and as far as I know this will be looked at once every 6 months. I was told that the creditors can contact you when this grace period expires but most of them don't - they just see you are still on a dmp and continue with the plan. However once your debt reduces to the extent that your DMP repayments exceed the contractual minimum monthly amount, you may start being charged interest again. I know this because of long drawn out conversations I had with HSBC - they were reluctant to freeze interest because I was paying almost the contractual payment on the DMP. It was only with a lot of persistance and hard work that I managed to convince them that I couldn't afford a £40 interest charge on a £58 payment! Anyway, it sounds like this may have happened in your case, especially as you've been on the dmp for so long. Don't call payplan, they are good at processing payments but rubbish at negotiating with creditors in my experience. Instead, be brave, and call yourself. Try to speak to someone senior, plead with them if you have to, and highlight how good you have been making regular payments on the DMP. If you appeal to their good will, I'm sure you have a chance of getting through this minor set back. Good luck.

JillyOJolly

Hi, I have the same trouble with Creation Financial now and I have done the pleading and its a no go with the interest.

NIce to hear someone had a nice letter from MBNA! A first me thinks. I am claiming charges back with interest and I have also made a formal complaint about their Customer Services Advisors tactics and threats. However, today I receive my statement and whats on it..... Card Protection Payment worth £70! This has attracted an overlimit fee (been paying this off at £187 a month for 2 1/2 years and the balance is still the same!!!!). I have cancelled the card protection over 3 years ago and had it reversed off my account twice already this year. I have spoken to the company TWICE in the last 4 months saying it was cancelled and to please please please stop charging it! I have asked MBNA to write to me rather than ringing so should I put this in writing too??

lonely_2

I just wanted to say a huge thanks to all the lovely, supportive people who helped me out on this board when I used to come here everyday just a few months ago. It's lovely to see some familiar "faces" still giving out help and advice, as well as a few new ones too!

For the first time in ages, things feel like they're looking up for me. I'm still drowning in about £45K worth of debt, which will take the next four years to pay off, but having paid at least £7k towards my debt this year alone I feel like I'm making progress.

I'm fortunate enough to have a good salary and no dependants at the moment, so although I've had to tighten the purse strings I still have a good quality of life. Instead of going out every other evening and splashing the cash, I got out once or twice a week and pay my share. Instead of spending £200 a month on food at Waitrose, I spend £100 at Morrisons (and get hubby to split the bill). I keep count of all my outgoing to the last pound in a spreadsheet I hide at work – but I don’t go on about it. If I overspend or treat myself, I keep it in perspective and try to remember how far I’ve come (there was a time when this would have been my excuse to say “well I’ve overspent now, I may as well blow the whole lot!!”).

After feeling like I wasn't worthy of a "normal" bank card ever again, yesterday I went into my bank and made a special request. I’ve had my account with them since February and was convinced they had something on my file saying “this person is a financial mess – do not touch with a bargepole”. However, when the lady entered my details in the system, somehow (miraculously) my special request was approved and I am now again a proud owner of a Visa Debit card (on it’s way apparently!). It was music to my ears, especially as I’m visiting New York in December and I’ve been told that Visa Electron is only accepted in a few places.

Having said all this, there are still tough days. My hubby still doesn’t know about this mess and I intend to keep it that way, at least until the debts are settled. I have been adamant about this from the start – it’s my mess and I will sort it out. However, it can still be lonely, and I still get upset whenever he gets excited about being debt-free next year – then I feel like a real idiot.

We are also looking to get a bigger house next year. Luckily we have a very healthy equity on a property we bought five years ago. But I have sleepless nights every time I think of the potential problems we may run into when we do move. My only hope is that we can find a property without having to extend our mortgage and our lender will let us move it from one house to another, without too many complications or a hike in the interest rate.

For the moment, I am taking it one day at a time, which I suppose it what most people do here. It would be great to hear your news and see how you are all doing too. x

ilovegreatdanes

hi all.
lonely.....just wanted to thank you for your lovely post above.im so glad things are finally looking up for you, and really glad you keep in touch.think your post will serve as a feel good story to alot of the new posters and and inspiration to us oldies!!!keep up the good work.xx

SortingIt_2

Hi Lonely,

It's really positive to read your post, thank you. I am in 60K+ worth of debt and just starting my DMP with Payplan first payment to be made this month. I am lucky in that my partner knows about it all and is supporting me 100% with my decision to enter a DMP. However it is nice to read how you have got on and that you have managed to pay such a nice lump off your debt already.

I too am lucky in that I have no dependants to support so my plan is to have a real good go at clearing this once and for all and on top of it all learn from the stupid mistakes I have made in the past.

Congrats on getting an upgrade on your account. I am sure that will make things much easier for you.

Take care x

amani_2

hi lonely nice to hear from you. Its really strange I was thinking about you this morning and wondering how you were getting on. Lovely positive post as others have said.


AMANI XXX

PS. Its my birthday today ***41*** years young

ilovegreatdanes

amani.....
:bdaycake: happy birthday to you,
happy birthday to you,
happy bithday dear amani,
happy birthday to you.
:beer:
and many more.........xxxxxxxxx

amani_2

AHHHHHHHHHHHHH Thanks ILGD