DMP & Mutual Support Thread - Part 10

System

Well joint account sorted, all but the paperwork but now we just want personal accounts as well. Wonder if Nationwide will let us have more than one account??

System

ploppy57 wrote: »

Well joint account sorted, all but the paperwork but now we just want personal accounts as well. Wonder if Nationwide will let us have more than one account??

Ooh it appears we can.....thats good

spot3

ploppy57 wrote: »

Ooh it appears we can.....thats good

Excellent news!

SquirrelNuts

ploppy57 wrote: »

Ooh it appears we can.....thats good

sorted! :j

Growurown

Hey P57 glad you found us! Sorry First Direct didn't work out for you. I don't remember having having so much hassle when we opened our account with them! There's lots to sort out at the start of a DMP but once everything is underway it won't take much of your time.

One thing you must do on a regular basis is check your balances. SC work on the assumption that all interest and charges are stopped so your SC balances may not match your actual balances. So keep an eye on it and if you are still being charged then there are things you can do to try and put the pressure on the creditors to stop. Good Luck.

System

Growurown wrote: »

Hey P57 glad you found us! Sorry First Direct didn't work out for you. I don't remember having having so much hassle when we opened our account with them! There's lots to sort out at the start of a DMP but once everything is underway it won't take much of your time.

One thing you must do on a regular basis is check your balances. SC work on the assumption that all interest and charges are stopped so your SC balances may not match your actual balances. So keep an eye on it and if you are still being charged then there are things you can do to try and put the pressure on the creditors to stop. Good Luck.

Right, so SC don't keep an eye on the balances then? They just pay the credit card companies and leave it at that?

Can anyone say which ones we are most likely to have problems with?? We have debts with Lloyds, Halifax, MBNA, Barclaycard and Tesco bank

System

Just a question I thought of....sorry to keep hassling you guys.
Has anyone any experience of a Lloyds Platinum account? We have one and there is a charge for it of £17 a month because of all the extras it involves, but we have been living on a £2.5k overdraft so they are now part of the DMP. We obviously don't want the account to remain open now as will be moving all our DD's elsewhere but can we close the account with an outstanding overdraft or will they continue to charge us £17 a month??

SquirrelNuts

ploppy57 wrote: »

Just a question I thought of....sorry to keep hassling you guys.
Has anyone any experience of a Lloyds Platinum account? We have one and there is a charge for it of £17 a month because of all the extras it involves, but we have been living on a £2.5k overdraft so they are now part of the DMP. We obviously don't want the account to remain open now as will be moving all our DD's elsewhere but can we close the account with an outstanding overdraft or will they continue to charge us £17 a month??

You'll need to phone them and ask for it to be downgraded back to a standard Classic account. It's quite a lengthy process on the phone as they ask lots of questions to make sure your new choice is 'suitable' so put aside at least quarter of an hour for that conversation!

Lloyds havent closed down my current account yet, but they have accepted the Overdraft payment offer and have frozen interest / charges.

Squiz

System

Growurown wrote: »

Hey P57 glad you found us! Sorry First Direct didn't work out for you. I don't remember having having so much hassle when we opened our account with them! There's lots to sort out at the start of a DMP but once everything is underway it won't take much of your time.

One thing you must do on a regular basis is check your balances. SC work on the assumption that all interest and charges are stopped so your SC balances may not match your actual balances. So keep an eye on it and if you are still being charged then there are things you can do to try and put the pressure on the creditors to stop. Good Luck.

So will they continue to send monthly statements from CC companies even though we will be paying via DMP, or will I have to check them all online?

System

SquirrelNuts wrote: »

You'll need to phone them and ask for it to be downgraded back to a standard Classic account. It's quite a lengthy process on the phone as they ask lots of questions to make sure your new choice is 'suitable' so put aside at least quarter of an hour for that conversation!

Lloyds havent closed down my current account yet, but they have accepted the Overdraft payment offer and have frozen interest / charges.

Squiz

So should I do that before the DMP is set up? A standard account would never have been allowed to have a overdraft of that amount so should I tell them we are setting up the DMP or not? Its all so confusing