Dmp Mutal Support Thread (Part Two)

SortingIt_2

Morning all,

It's the weekend, yippee!! I now have three days to do whatever I wish as not back to work until Tuesday. Lovely!

Woke up to yet again another huge pile of letters. Two of which were from halifax offering option to extend loan and a very very low rate balance transfer on my credit card with them. CAN YOU BELIEVE IT!!! I owe more than £20,000 to halifax in my dmp and am in arrears with them, no wonder we get ourselves into debt. It's laughable really. The fact that they also know that I have over £60k in debt to pay back is crazy. Think I might be writing a letter, although they are probably only computer generated etc and from one of their many departments I don't want them. I have enough letters from them at the best of times, non of which might I add are responses to any of my letters.

I must say I have been very surprised by HSBC. Pleasantly surprised actually, they have responded to every letter and keep me updated at all times as to what they are doing. The latest one advised they would consider stopping interest request once they receive payment and budget from payplan. I have not had one phone call from them at all :-)

Anyhow off to clean the flat. Done the kitchen and put a washload on just the rest to do...what a life!

Karen x

itsnowtime

Hi everyone,

Just a quick update / question. Having received an initial letter from Restons stating that my repayment offer to HFC wasn't acceptable. I wrote them a letter asking for them to put any further action on hold for 6 months as it's likely I will then be able to increase my offer.

However, that wasn't acceptable to them.... and this morning i received a letter - all of 2 sentances explaining it wasn't acceptable and that they would be starting legal proceedings.

Can anyone advise what the next step is? Will it be a CCJ or could it be a charging order?

Thanks for your help.

dlb

They will not rush into taking you to court now your are on a Dmp, as the courts will look on it that you are trying to deal with your debts, i would contact your dmp company and ask them advice, maybe another fiancial statment sent out to them with offer of repayment details again.
I was threated with further action by all my creditors when i first went on my dmp, 2 yrs later no action has been taken and they are all excepting payments offered. This is just scare tactics they are trying.
Good luck
Donna

really-trying-honest

Hi everyone,
just joined the forums yesterday and could really do with some advice please.
Have been on the CCCS website and done the "thing", and they say if I go on a DMP I could be debt free in just over 2 years which is great (debt of £6000) but do these dmps give you really bad credit rating?
Mind you mine is probably pretty bad anyway:rolleyes:

yellowmonkey

Hi and welcome.

DMP's dont seem to improve my credit rating.Mine is bad anyway and as i want to get out of debt i am not to bothered if my ability to gain credit is somewhat impared in the future. Will be cash only for me when i am Debt free.
As you say yours is not to good anyway and would it improve if you were to miss payments and get behind with your payments.Personally for me a DMP has been a godsend and the best thing i have done regarding my financial plight.

Good luck and welcome once again.

Good morning to everyone. Hope you are all well

ym

SortingIt_2

Welcome RTH - DMP's will not help your credit rating but I think like most if you are considering a DMP your credit rating won't be that great either. I know I just want to get rid of the debt and never want to consider debt in my name ever again!! Good luck with CCCS.

Evening everyone, hope you have all had a lovely weekend and plesant Sunday evening

Karen x

snappy_badger

dlb wrote: »

They will not rush into taking you to court now your are on a Dmp, as the courts will look on it that you are trying to deal with your debts, i would contact your dmp company and ask them advice, maybe another fiancial statment sent out to them with offer of repayment details again.
I was threated with further action by all my creditors when i first went on my dmp, 2 yrs later no action has been taken and they are all excepting payments offered. This is just scare tactics they are trying.
Good luck
Donna

TBH I think that all depends on who your creditors are and how much you owe! Northern Rock would not accept my DMP offer at all and as I couldn't pay back the whole amount like they wanted they started court proceedings. This was only after about 2 months of being on my DMP.

With legal proceedings the first stage will be a CCJ - initially the judgement said I had to pay a monthly installment that was way above my DMP amount (I remember CCCS explaining that the creditor gets to pick the amount and the court just awards that). So I appealed and the judge then awarded that I could continue to pay at the DMP amount but that there had to be a reasonable end date for when I would repay the full amount.

If I don't repay in full at this stage then NR can apply for a charging order. The courts want to give you an opportunity to pay off the debt before they'll allow the creditor to apply for a charging order. The time period for repayment is what you need to negotiate with the judge.

Hope this helps!

mummum2

Good morning all, hope you all had a nice weekend! Received default notice from EGG who said my debt will be passed to an external debt collection agent, (gave me no name of this company) who will be contacting me within the next 10 days to discuss my repayment proposals. Have passed to my DMC.

MBNA who with NR have been the worst of my 8 creditors, also received letter from them thanking me for my recent correspondence concerning my financial circumstances.....a restriction has been placed on my account, which means no further transactions will be authorised, I have not touched this card for over a year and half, was paying off, but not getting amount down, so don't want to or need to use their card!!!!! aparatently once my financial circumstances improve they may review my account and consider removing this restriction. AS I HAVE NO INTENTION OF EVER USING A CREDIT CARD AGAIN I can't see myself getting them to give me another card at least not in this life time!

mummumx

newlywed

Hi all.

Different companies seem to register your DMP differently on your credit report. Just got an update to mine

One company has registered no late payments and no defaults at all

Another company has registered a default which is there fore the next 6 years from the date of default.

Another company says "under arrangement" with a late payment until the arrangement was agreed. (They never told me they agreed anything so this was the only way I'd found out they accepted the DMP).

Another company has sold the debt on to a finance company and although I have never been late with any payment to the finance company (as they agreed the DMP), they keep registering that I am 3+ months late with payments :mad: They also registered the fact that I am on a DMP :rolleyes:

So I think it varies as to how much they trash your credit rating for you - probably depends on their mood too

On the other hand, my credit rating - although no missed or late payments at all - was trashed before the DMP as I simply owed too much for my income.

When my DMP is done, I plan to save the majority of DMP payment amount each month and plan to not even need credit.

archer85

Hi there,
I could really do with some advise please

My partner has a reditermination hearing this Friday as Northern Rock got a CCJ out on him without a hearing etc etc. Long story short i was looking into he's loan the other day and noticed he had take Bronze PPI witrh them. This was obviously adde dto the loan amount and therefor ethey are claiming the entire amount including the PPI.
Right my question is can he still cancel this PPI because i do feel it is a little unfair of them to claim this on top of the loan. Thing is i get so frustrated with my partner as if he could leave it to me and ring them up he would grrrrr :mad:

ANY SUGGESTIONS WOULD BE GREAT THANKYOU XXXXXXXX :T

Vicky