DMP & Mutual Support Thread - Part 10

phoenixx

Sazzie23 wrote: »

Ooh Phonix that's a tough one, so sorry. Does your house insurance cover the freezer at all? I couldn't survive if my firm failed to pay me on time, it's all down to the next pay check!

I'm not sure but isn't it illegal for your firm to fail to pay you - and can you claim out of pocket expenses (though I'm guessing they must be having financial problems too?). Also I'm thinking your colleagues may be in sim financial position to yourself, which is kinda comforting....?
Don't forget you could ask SC to delay payments if firm haven't paid &freezer up the duff ( or delay your own if self managed). Remember gumtree, free cycle etc for the new freezer, you can offer your old one as free to collector too

Hope it's a better day today.

Thanks sazzie - you are right about colleagues - everyone is asking everyone for lifts! Is like a sitcom if we weren't all so desperate...In terms of the freezer, the insurance will pay but excess is £75. Not sure it will be worth risking it going up.

It is apparently illegal not to pay us but some small print in contracts means they have until last day of the month so that's over a week! :eek: I will not borrow even from family so going to see if there is any Jewelry I can part with - tough decision as most of it comes from relatives that are no longer with us. Is a quandary but I may have no choice...

Phoenixx

phoenixx

Growurown wrote: »

Another banking scandal in the news again tonight, with Barclays being the worst culprit and fined one and half billion pounds. To think some of us feel guilty about not paying back what we owe:eek:

It was reported: -

Announcing the fines, Loretta Lynch, the US attorney general, said bank traders had exhibited “breathtaking flagrancy” in setting up a group they called “the cartel” to manipulate the market between 2007 and the end of 2013.

Anyone out there still feeling guilty?

Barclays - what a surprise! Not. I just can't believe they keep getting away with it!

Almostthere78

Morning all
Something that might help anyone on a DMP where Halifax hasn't frozen interest is an article in The Guardian from 07 February 2010 written by Jill Insley with the headline Debt Management Plans that keep Adding Interest. Right at the end a Halifax Spokesman (Alex Barnett) states that “charging interest was a contractual right, but that the lender would treat each case according to the circumstances of the borrower if they got in to difficulties, and that interest was automatically frozen if a CCJ was issued, or if they entered a DMP”.
I got my interest frozen and all the interest I paid since the start of my DMP (five years' worth) refunded :-)
I'm sure this has probably been posted before but it might help someone!

Time_to_face_the_music

Almostthere78 wrote: »

Morning all
Something that might help anyone on a DMP where Halifax hasn't frozen interest is an article in The Guardian from 07 February 2010 written by Jill Insley with the headline Debt Management Plans that keep Adding Interest. Right at the end a Halifax Spokesman (Alex Barnett) states that “charging interest was a contractual right, but that the lender would treat each case according to the circumstances of the borrower if they got in to difficulties, and that interest was automatically frozen if a CCJ was issued, or if they entered a DMP”.
I got my interest frozen and all the interest I paid since the start of my DMP (five years' worth) refunded :-)
I'm sure this has probably been posted before but it might help someone!

Here is the link:

http://www.theguardian.com/money/2010/feb/08/debt-management-plans-adding-interest

It's definitely worth a try. Great result Almostthere78 :j

TTFTM x

Almostthere78

I had made a complaint about Halifax to the ombudsman too that was rejected so am well chuffed! Sometimes persistence pays off!

blisteringblue

Having some fun and games with my smallest debt. Reduced payment to £1 to force default and decided to take a call from them to explain after writing.

Apparently I have to send a new income and expenditure letter to show £1 is all I can afford and they may consider freezing interest. I said no, tell me what happens if I don't do this and carry on paying £1. Answer we will eventually sell the debt to an outside agency.

HELLO, are you listening, this is what I want !!

But this isn't a route we offer? If you carry on with the 12% interest we mark the debt as up to date?

But that puts an extra 2 years on clearing the debt?

I understand this isn't ideal but this is the only path we offer.

No I will carry on paying the £1 a month then until default me, which I would appreciate to be ASAP.

OK will note our conversation on your account.

It's the principal now, even if they put it back up to standard interest for a few months gives me more ammunition to use with the FOS.

Proves how idle all their threats are. Send a letter to say they could default you, but they really have no intention, it really is all about squeezing every last £ out of you.

spiffyiffy

Hi all,

I've not posted on here for a while but I have 2 questions:

All my creditors have not defaulted me as of yet but only one has - Post office Credit Card but they have not frozen their interest on my account.

The other question is to get the others to default shall I ring SC and tell them that I want to do more token payments for them to default me? (Can i even do this?)

I did write tot hem to do this but they just said no.; What can I do?

Thanks again

blisteringblue

spiffyiffy wrote: »

All my creditors have not defaulted me as of yet but only one has - Post office Credit Card but they have not frozen their interest on my account.

The other question is to get the others to default shall I ring SC and tell them that I want to do more token payments for them to default me? (Can i even do this?)

Hi Spiffyiffy, are you 100% sure Post Office have defaulted you? Does it show as a default on your credit report? You can get a free one with Noddle.co.uk

I've had a few defaults are all are now interest free.

Unfortunately you will have to leave Stepchange to reduce to token payments again. SC are very regimented and will always pay creditors the even % split no matter what.

I had to leave SC and go self managed to get into my position to go back to token payments for my 3 debts that were still charging interest.

It's worked for Barclaycard but my last little one as posted above is digging its heals in.

Time_to_face_the_music

spiffyiffy wrote: »

Hi all,

I've not posted on here for a while but I have 2 questions:

All my creditors have not defaulted me as of yet but only one has - Post office Credit Card but they have not frozen their interest on my account.

The other question is to get the others to default shall I ring SC and tell them that I want to do more token payments for them to default me? (Can i even do this?)

I did write tot hem to do this but they just said no.; What can I do?

Thanks again

Have you written official letters of complaint (you need to state it is a complaint) to your creditors and then followed up via the FOS? This is the first path you need to take, then if it doesn't work, I would suggest going self managed as blisteringblue has already mentioned.

If you haven't already complained, please let us know if you need a letter template and/or help with contacting the FOS.

TTFTM x

schmalf

Hi all, hope everyone is well. Just thought I would share my fab news, the background being my redundancy and deciding to start up my own business. As you can imagine, I was super worried about bank accounts. Well I've finally heard today that my business bank account is up and running!!!! Woohoo I'm over the moon! Its with RBS, and I had to declare my DMP. Have to say apart from it taking an age to set up, they have been fine with the whole thing. So just goes to show, being on a DMP isn't the end of the world and you can still follow a dream if you want!!! Panic over phew....love to you all, Schmalf xxxxxxx