DMP & Mutual Support Thread - Part 10

January2015

fermi wrote: »

Ask here -> DFW Nerd Club.

EDIT:

Done. Number is 1484.

Thank you - exactly what I wanted:j

sourcrates

optimus622 wrote: »

Hi
Ive recently found out that i have been paying the wrong debt for 10 years, i think the original balance was about £2700, i only found this out when i was going through PPI claims and the company let slip a different address on the account which then set the alarm bells ringing, i couldn't believe id been so stupid, but considering the problems i had at the time its no surprise.

Anyway, ive written to the company's concerned and they have dragged their heels over it but they've admitted its their fault. They still haven't got back to me over why and what they are doing about it and so far its taken more than 40 days I have now complained to the ombudsman who has taken the case on.

Question is what would be calculated as a reasonable level of compensation?

Rule of thumb, if found in your favour, you should recieve back all the payments you have made, plus interest at 8%.

Plus any discretionary payment the company see fit on top.

tayajade

Hi all

I recently posted regarding my husbands redundancy and our DMP and as promised I thought that I would post to share our experience.

We had been paying £570 for seven months until January when my husband was made redundant with no redundancy pay (we are still fighting for some statutory redundancy pay). I contacted payplan who were as always very helpful and understanding. They cancelled the direct debit and I paid what I felt I could afford for the two months where he had little or no pay which was 200 the first month and 100 this last month. I also wrote to all of our creditors to explain the situation. I recieved letters from some just thanking me for the correspondence and saying that they would continue to freeze interest and charges. I haven't heard from barclaycard or Santander at all.

Fortunately he now has a job and we will be back to normal this pay day, he now has to travel hence more petrol so we had a telephone appointment with payplan this morning to review the budget. We are reducing from £570 to £500, payplan will send the budget out to all creditors as they did at the start.

The top and bottom of it is that this scary situation was not that scary at all in reality, given that it was a genuine situation payplan and the creditors seem to have been fairly understanding and patient.
I hope this helps anyone that may potentially be going through this situation either now or in the future.

Enjoy the bank holiday!

phoenixx

tayajade wrote: »

Hi all

I recently posted regarding my husbands redundancy and our DMP and as promised I thought that I would post to share our experience.

We had been paying £570 for seven months until January when my husband was made redundant with no redundancy pay (we are still fighting for some statutory redundancy pay). I contacted payplan who were as always very helpful and understanding. They cancelled the direct debit and I paid what I felt I could afford for the two months where he had little or no pay which was 200 the first month and 100 this last month. I also wrote to all of our creditors to explain the situation. I recieved letters from some just thanking me for the correspondence and saying that they would continue to freeze interest and charges. I haven't heard from barclaycard or Santander at all.

Fortunately he now has a job and we will be back to normal this pay day, he now has to travel hence more petrol so we had a telephone appointment with payplan this morning to review the budget. We are reducing from £570 to £500, payplan will send the budget out to all creditors as they did at the start.

The top and bottom of it is that this scary situation was not that scary at all in reality, given that it was a genuine situation payplan and the creditors seem to have been fairly understanding and patient.
I hope this helps anyone that may potentially be going through this situation either now or in the future.

Enjoy the bank holiday!

Hi tayajade

Thank you for updating us on your progress. So pleased your DH has another job now and you are pushing forward with the DMP. I am sure many people will be heartened by your account of dealing with creditors and Payplan during this time. You kept your cool and kept communicating. A lesson for us all when times get tougher! :A

phoenixx xx

tayajade

phoenixx wrote: »

Hi tayajade

Thank you for updating us on your progress. So pleased your DH has another job now and you are pushing forward with the DMP. I am sure many people will be heartened by your account of dealing with creditors and Payplan during this time. You kept your cool and kept communicating. A lesson for us all when times get tougher! :A

phoenixx xx

Thank you PHoenixx ��

Sazzie23

tayajade wrote: »

Hi all

I recently posted regarding my husbands redundancy and our DMP and as promised I thought that I would post to share our experience.

We had been paying £570 for seven months until January when my husband was made redundant with no redundancy pay (we are still fighting for some statutory redundancy pay). I contacted payplan who were as always very helpful and understanding. They cancelled the direct debit and I paid what I felt I could afford for the two months where he had little or no pay which was 200 the first month and 100 this last month. I also wrote to all of our creditors to explain the situation. I recieved letters from some just thanking me for the correspondence and saying that they would continue to freeze interest and charges. I haven't heard from barclaycard or Santander at all.

Fortunately he now has a job and we will be back to normal this pay day, he now has to travel hence more petrol so we had a telephone appointment with payplan this morning to review the budget. We are reducing from £570 to £500, payplan will send the budget out to all creditors as they did at the start.

The top and bottom of it is that this scary situation was not that scary at all in reality, given that it was a genuine situation payplan and the creditors seem to have been fairly understanding and patient.
I hope this helps anyone that may potentially be going through this situation either now or in the future.

Enjoy the bank holiday!

Difficult situation and you handled it really well, and got a brilliant end result - so pleased DH has a new job, and I hope you get the redundancy pay he deserves. I think you used to be able to go to some sort of tribunal to get it but I suspect these days the costs might create a risk/benefit issue. Sure you are taking good advice about it but there is probably a thread on the main forum if you have any questions.

Thanks for the update, I'm in a similar sort of financial position myself and I know I should write to the creditors, hopefully your post will encourage me to do so

Sazzie23

optimus622 wrote: »

Hi
Ive recently found out that i have been paying the wrong debt for 10 years, i think the original balance was about £2700, i only found this out when i was going through PPI claims and the company let slip a different address on the account which then set the alarm bells ringing, i couldn't believe id been so stupid, but considering the problems i had at the time its no surprise.

Anyway, ive written to the company's concerned and they have dragged their heels over it but they've admitted its their fault. They still haven't got back to me over why and what they are doing about it and so far its taken more than 40 days I have now complained to the ombudsman who has taken the case on.

Question is what would be calculated as a reasonable level of compensation?

Hi Optimus, saw from your other post you have an impressive DMP debt busting record and are now well on the way to DFD. I'm intrigued about the debt and how it is wrong...is it someone elses ? Not sure about the compensation but Sourcrates is a very reliable source

naimismynaim

Hi to all,

I hope this is the correct place to start I'm new to all this.

I hope someone could help me out on this one please?

Two years ago I my wife and I had to go into a DMP with £21000 of debts. Now we owe around £17700 and we now have some funds to repay most of our debts. The thing is we are still in our DMP and the company we are using tell me they will contact our creditors and get back to us soon. This sounds ok but I'm scared we may have to pay back loads of interest which we had frozen during the last two years.

I've never been in this situation before so I don't know what will happen now.

Some of our debts are credit & Store cards with a personal loan in there too. We owe around £9500 on the loan and the rest on cards.

I was thinking of paying off all the cards and just go back to nor,Al payments on the personal loan. Sounds like a good plan but is it possible I could actually do this and hopefully my credit score will return to normal after a few months.

Thanks In Advance for any advice..

phoenixx

naimismynaim wrote: »

Hi to all,

I hope this is the correct place to start I'm new to all this.

I hope someone could help me out on this one please?

Two years ago I my wife and I had to go into a DMP with £21000 of debts. Now we owe around £17700 and we now have some funds to repay most of our debts. The thing is we are still in our DMP and the company we are using tell me they will contact our creditors and get back to us soon. This sounds ok but I'm scared we may have to pay back loads of interest which we had frozen during the last two years.

I've never been in this situation before so I don't know what will happen now.

Some of our debts are credit & Store cards with a personal loan in there too. We owe around £9500 on the loan and the rest on cards.

I was thinking of paying off all the cards and just go back to nor,Al payments on the personal loan. Sounds like a good plan but is it possible I could actually do this and hopefully my credit score will return to normal after a few months.

Thanks In Advance for any advice..

Hi and welcome

What DMP provider are you with? Hopefully one of the free ones - no-one should ever pay a fee to have their DMP administered. I would imagine that you should be starting to offer Full&Final amounts if you are in a position to pay lumps off. This should be done in writing - never over the phone. Take a look at the 'Full and Final' thread which will give you lots of advice on how much to offer. I don't believe they can get you to pay interest and charges retrospectively. I've never heard of that before so doubt it's a worry.

Have you sent CCA requests to your creditors? If they don't have the proper paperwork your debt may be not be enforceable which, if nothing else, can put you in a stronger position when offering Full & Final amounts.

There are lots of wise people

phoenixx

Sorry - cat on the bed led to premature posting!! There are lots of wise people on here who will come along to advise further I'm sure.

phoenixx