Dmp Mutal Support Thread (Part Two)

itsnowtime

Well, having made my 3rd payment on DMP through CCCS I thought things weren't going too bad.

It was all quiet on the creditors front with the exception of HSBC constantly calling offering a managed loan which I'm refusing point blank! and the fact they haven't stopped interest, nor have the stopped attempting to take the loan payment from my account which is already over its od limit and then charging me £25 for the pleasure of returning it - even though I told them to cancel it!! and they said they can't AHEM!!!!! -- OK HSBC Rant over!

I then at the end of October received a letter from Restons Solicitors in connection with my loan at HFC asking me to increase my payment offer or settle the debt in the near future. Having spoken with CCCS I then emailed Restons to explain that I am unable to increase my offer at this time, however things are likely to change within the next 6 months and would they be willing to hold off any action until this time?

How likely do you think this will be? Or do you reckon they'll take me to court apply for a charging order against my property?

If they do put a charge against me what's the worst that can happen?

Thanks all - a little worried but still relieved at dealing with my debt!!!!:p

TightTone

What was the balance on the loan and what are you payig back to HFC in the DMP?

itsnowtime

They say the balance is £8100 ( I think its a little less) but not going to dispute that at the moment.

My original payment was £231.50 and through CCCS they are being offered £104.52.

They had stated that this amount was not enough as it would take 6 years to repay the debt, however I did explain that as debts are cleared this would increase the amount I'd be able to offer them and its also likely that I will have a pay increase in Q1 next year which again would increase the amount i'm able to give them and I don't want to take 6 years to pay my debt.

I've asked them to hold any further action for the next 6 months to see if my financial situation improves and I was just wondering if I've got any chance....

TightTone

I am really not sure how they will react with regards the 6 months period. I have just started my DMP with PayPlan and have HFC has one of my creditors. I am really scared now about the threat of court action and CO having read your account of how they are dealin with you. Did they call you from HFC or anything like that before sending the letter from their solicitors? or was it just a letter with no prior warning that it was going to be passed out. I am rally scared now.

TightTone

Is there anyone else with HFC as a creditor and had expereince of a DMP working or chargin order. please help

itsnowtime

Hi Tightone

If you search the forums there's plenty on HFC. They did contact me initially and the guy I spoke with was really nice, I explained the situation and he said that they try to avoid defaults as much as possible and would look at extending the loan term, freezing interest etc... However it doesn't look like that has happened in my case.

As you can see from my sig there's a lot of debt there and I guess HFC are just protecting their assets and taking a firm line - particularly as there's been the credit problems in the US.

All I can say is sit tight it may be that they are willing to accept your offer. well done on dealing with it - I know it's not easy but at least we're being proactive and showing we want to repay - unlike people who bury their heads in the sand!!

Big hugs and please don't be too scared!

juliesg

ive just read some of ur money problems its nice to talk to people in the same situation. please can i join ur group. i phoned up to start a dmp on wed feltlike a huge weight lifted off my shoulders the only thing that worrying me will all my creditiors except a dmp and all the phone calls ive got to come. my creditiors are:
MBNA
sainsburys bank
littlwoods cat
empire cat

has anyone had any dealing with these so i know wot they will be like. thank you

itsnowtime

Hi,

Well done juliesg on taking the first step on to your DMP!

My creditors included Sainsburys Bank and Littlewoods.

I have a loan with Sainsburys bank which has now been passed onto Blair, Oliver and Scott - no trouble with them really although they haven't officially informed me that they transferred the debt on.

With regards to my Sainsbury's credit card they've been great. They accepted the payment offer and was still applying interest, the girl who contacted me from collections, told me to go back to CCCS and ask for interest to be frozen which they have done! They were really friendly and really helpful.

With regards to Littlewoods I'm not sure. I was paying them through CCCS and upto last month they were also taking out their monthly Direct Debit - stupid me I hadn't cancelled it even though I informed them in August to not take any payments via the CCCS notification letter. I have since cancelled the DD so they are now only receiving the one payment through cccs so I'll see if there's any backlash from that.

Anyway good luck - you've come to the right place as you'll get lots of advice and support on here!

juliesg

thanks for your reply its def nice talkin to people in the same situation as you.someone who understands without judging you. my sainsburys is a credit card they all cc except littlewoods and empire. how long do thephone calls go on for thats one thing i cant cope with.
sorry to be thick but what is blair,oliver and scott

TightTone

Hello,

Anyone that is with Payplan -

Is there anyone that is with payplan and aproached individual creditors to pay off one single debt.

Will it affect the rest of the plan - will creditors pull out of the agreement?

I have just got some charges back and it would be enough to cover one of my smallest debts - just nor sure whether to clear it or not.