DMP Rejected by bank??

BrussellSprout

Thanks Tixy, I have asked them to freeze interest in the letters I sent with my token payments, they haven't responded to me for my august token payments but have already responded to stepchange about the plan they will be starting in September...

BrussellSprout

Oh I know it's only money... not as if I can go to jail or anything.. (I hope!) haha.... but it just makes life so much harder. All my own fault. Spending, gambling, previous bad relationships, all the debt I thought I could afford just added up

awww thanks Sourtcrates!

Lensman_2

When I suffered financial meltdown I had an overdraft, loan and credit card with HSBC that came up to £24k. I stopped paying once I realised I had no choice.

They didn't take me to court.

What they did do was they defaulted the accounts, lumped the loan in to my overdraft and sold the lot on to DCAs (once I hacked Metropolitan off enough with a few missed payments).

So, based on my experience...
1. 16K isn't massive.
2. Don't worry about court. You are in a DMP and have no assets.

Edit - ...and 3. I have yet to see a top level creditor (e.g. bank) or their in house DCA take someone to court for anything other than a mortgage.

patman99

Brusselsprout, I have a DMP with Stepchange and 2 of my debts are with Nationwide. They accepted my token payment for the loan, but refused to accept the one for the overdraft.
That was back in December last year.

All Nationwide have done is to begin a monthly reduction to my overdraft limit (starting this month and with the reductions being agreed with me).

Sazzie23

BrussellSprout wrote: »

Oh I know it's only money... not as if I can go to jail or anything.. (I hope!) haha.... but it just makes life so much harder. All my own fault. Spending, gambling, previous bad relationships, all the debt I thought I could afford just added up

awww thanks Sourtcrates!

Hey Brussels, life is about choices and learning, you made some that weren't perfect but you've learnt and you've taken action. Yes its tough, but its do-able and YOU are doing it.


Shameless promotion of DMP support thread (now part10) if you want to join some similiarly encumber folk, link will be on front page of DFW forums as we are prolific posters. Worth a read even if you don't want to join in!