DMP & Mutual Support Thread - Part 10

Sazzie23

Evening all

As a bit of a rebel, I think a mass protest to FOS or mass non=paying of Creation might be needed, just to redress the balance (scuse the pun) a little.

Of course, easy for me to say as they not one of my creditors

Who are Creation btw, presumably a dodgy arm of an otherwise 'reputable' bank?

Brogden

Puzzcat wrote: »

Creation were my last cc applied for, at that point I had in excess of £40k cc debt and a loan/of of £10k + on a £30k salary. I chose to apply and accept and I will repay but on my terms now. I agree the generous giving of credit was the downfall for most of us, but now we just want to pay it back at an acceptable rate. By trying to keep your payments regular would eliminate the need for the creditor to keep upping the interest so maybe this is where you need to do some work on and ensure that you can maintain the payments you are offering. I have had no trouble from them since complaining to the fos, but the fos did say to come back if I did. By not paying I'm not sure you won't be encouraging more problems than you need. Wishing you well whatever route you take.

Do you remember the feeling when applying for credit? We really, really, really wanted the application to be accepted......we thought we needed it . Sparkly, shiny, cool new cc's coming through the letter box. Then we wished we didn't have the credit. Now I make sure I focus on the second emotion first - not that anyone would give me credit if I were daft enough to apply

Brogden

Time_to_face_the_music

Iwanttobefree wrote: »

Yep, the problem is I've been through the same process, they did reduce the payment to 3% apr for 12 months, but this was based on the amount I offered to repay them. And them not upholding my complaint.

Two months later I had to reduce the amount and while they accepted the new amount, they started the whole process again.

Meaning I now have to contact the Fos again, I get the interest from Creation while this goes through (last time it took 4 months on one account)

So by December / January they will have reduced the interest again, but what if I need to make a token payment one month, or change my repayment amounts, then I have to start the whole thing again and they are the only company behaving like this, which is why part of me wishes they would pass it over to a debt collector.

I think I might write a full explanation of my experience to the Fos and see what they say. because I don't want this to keep happening every few months.

I don't have any experience with Creation but from what everyone is saying here, they seem like a real PITA and a definite problem in a DMP. May be paying nothing is an option if you are really not concerned about CCJs and charging orders, because with that level of debt to one creditor, it's a real possibility.

If it's the same complaint about the same account, the FOS will find it easier to handle and it should be quicker. I always did FOS stuff over the phone and found their staff to be extremely patient and helpful.

One thing worth trying is to ask the FOS to request all interest paid to be refunded, that worked for us and made a massive difference to the remaining debt.

TTFTM x

Time_to_face_the_music

Brogden wrote: »

Do you remember the feeling when applying for credit? We really, really, really wanted the application to be accepted......we thought we needed it . Sparkly, shiny, cool new cc's coming through the letter box. Then we wished we didn't have the credit. Now I make sure I focus on the second emotion first - not that anyone would give me credit if I were daft enough to apply

Brogden

Mr TTFTM put this into perspective at the start of our DMP when he started referring to our credit cards as debt cards. It was like a second LBM and has worked ever since. They will always be debt cards to me now and I never want another one.

TTFTM x

Brogden

Time_to_face_the_music wrote: »

Mr TTFTM put this into perspective at the start of our DMP when he started referring to our credit cards as debt cards. It was like a second LBM and has worked ever since. They will always be debt cards to me now and I never want another one.

TTFTM x

HaHa

Mr. TTFTM is a wise man......that's exactly what cc's are - a tool to get yourself in debt with - how on earth have they ever got so popular? ......as if I didn't know

Iwanttobefree

Kate_fixing_it wrote: »

I'm still fighting the sods! SC pay them 28.81, they charge 27.67 interest :mad: it's been 5 months so far. They will NOT beat me though I will make sure everyone I know is aware of their actions and avoids them!

Absolutely disgusting attitude to their customers in trouble and why on earth they gave me a credit limit that's 15% of my annual salary with a debt total of over 50% already in place is beyond me! Take a look in the dictionary under deluded and you'll see my 2013 face

Kate x

Hi Kate, I know I'm not supposed to cross-post, but I had another thread on Creation in the debt section and I have spoken to them this morning and my experience could benefit you, so here's what I just posted.

Well that was a pleasant surprise.

Thought I'd try talking to them rather than writing to them. Phoned the number on the letter and he wouldn't budge.

I politely said "have I really got to write to the Financial Ombudsman to get the rate lowered, seems like a waste of their, your and my time?"

he responded

"You don't have to write to them, phone our complaints dept on 0800 012 1173 and speak directly to them they will probably be able to help"

So I phoned them, very polite lady, she understood what I was saying and basically implied the other department is limited by what the computer says (my words but was sort of what she said) and that her dept can see what things are actually like and act accordingly.

She has reduced all 3 accounts to 3% apr

So while not perfect, my account I owe £6840 I am now being charged £17.10 interest per month and repaying £40,

That's better than the £33 interest I was paying last month. So instead of paying off just £7 a month, I am now paying off £22.90 a month.

Was petrified of actually speaking to them but it was a very pleasant conversation.

City1

Monkeyballs wrote: »

Crikey, I turn my back and more new faces crop up!!! AWESOME Hey y'all... Welcome to the party

This is without a doubt one of the most fun, informative and supportive places around! It's not even just about DMP's, although that's the underlying theme we are all like friends chilling out around a virtual coffee table chewing the fat and getting our sh*t in order so make this a regular thing, come back and contribute, you'll never be judged* and you'll never have a stupid question so ask away :beer:

*Ok, so some people are just weird and we'll/I definitely judge you if you're a Justin Beiber or Miley Cyrus fan

City1, my best advice to you as Puzz has already mentioned is to get an emergency fund put in place screw the creditors and speak to SC about sending token payments for a few months and explain that you have no contigency fund in place - it is without a doubt the wisest thing to do and they'll be 100% supportive of you. Whatever you do, don't make any big payments to payday lenders - it makes no difference in the long run so don't worry about being a bad person or getting hounded, in your mind a DMP is a thousand times worse than it actually is and remember, we are all here for you! So look after number one

MB of G xxx

Hi Monkeyballs,


Thanks for the advice, but not sure I asked for any (at least not recently).


I think there are so many different ways of dealing with all our debts and it whatever we are most comfortable with, as we all have our lives to live.


At the beginning of the year I thought I was going to lose everything. I have always visited the MSE website over the years, never did I think that I would need to search for this forum. I am so glad that I did.


I have read so much informed content, this lead me to phone SC I found them fantastic, but my wife and I felt that it would be better to go Self Managed. It was one hell of a task dealing with 27 creditors, sending letters/budgets and then more letters and the phone calls as well. But now plans are all agreed our SO's are set up I can breath again! I do know that it will be a long hard road!


For a number of month we did not pay any money to our creditors (not sure if this was wise), but really didn't see the point in paying £1.00's. This has lead to the vast majority of accounts either being terminated or defaulted (which I think is a good thing!).


But I am learning as I go, as I see it my/our credit rating was shot as we were at our limit anyway. I am now paying creditors what I can afford (decent amounts) and we are as a family are able to live.


This time last year, my wife and I had £10000 debt, this year we have £80000, but it is going down!


Onwards and downwards...

Kate_fixing_it

Thanks iwanttobedebtfree I'll give them a call tonight and will report back. I'm willing to try anything now!

flowerpotter_2

Hi Folks,


One thing I have learnt from this thread is keeping check on actual balances with the creditors. I am ashamed to say it’s not something I have done since starting my DMP! I think I naively assumed PP would keep a check on everything. Anyway over the last week I have started with our smallest debts and my aim is to work through them to get accurate figures. No nasty surprises with the first two both of which matched up. The third one is a cause for concern.


A relatively small debt with Virgin Media. PP says we owe £114.20 but Virgin Media say £126.20. Only £12 difference but Virgin are saying they have only ever received one £1 payment from PP while my PP records show thirteen £1.00 payments over the last year. This debt appears to have been passed backwards and forwards from Advantis Credit but Virgin say the debt is now back with them. Virgin says no interest or late payment charges have been added to the account.


I have sent PP an email this morning and I am hoping we can get to the bottom of this. It amazes me that Virgin has not sent me any letters regarding the fact they have only received one payment in over a year. We have not heard a peep out of them since we signed up with PP.


Will update when PP reply.



Louise

Brogden

Kate_fixing_it wrote: »

I'm still fighting the sods! SC pay them 28.81, they charge 27.67 interest :mad: it's been 5 months so far. They will NOT beat me though I will make sure everyone I know is aware of their actions and avoids them!

Absolutely disgusting attitude to their customers in trouble and why on earth they gave me a credit limit that's 15% of my annual salary with a debt total of over 50% already in place is beyond me! Take a look in the dictionary under deluded and you'll see my 2013 face

Kate x

They're called Creation because they Create a right load of fuss

Brogden x