DMP & Mutual Support Thread - Part 11

woollisox

Oh right that's fine then, got worried then! Thank you for putting my mind at ease!

Puzzcat

Morning dmp'ers...

So a few days to go until my new self managed dmp starts... Unlike others I have kept the payments exactly the same as sc were paying and hence haven't had any quibbling....

I wrote to all 9 of my creditors but still had to telephone 4 of them and 1 of them twice as they omitted to send payment details with there reply... durr.... I also found that 1 of them had 'passed' me to Lowells in the last week so until they contact me I shall stash their share away..

I now have 8 of my 9 standing orders set up from my new basic bank account and hope my pennies end up in the right accounts...

Of course typically as us dmp'ers know, I now have car trouble but..... assuming it is something fixable I should due to the lovely budgeting skills I have learnt have the cash to pay for it.. Will keep you posted...!!!

Hope everyone is having a lovely weekend...

Love Puzz. x

spiffyiffy

blisteringblue wrote: »

Paid them £1 a month until they did. One took 4 months, the other around 6 but the 2nd is in the final stages of moving to PRA Group. Been like that since Nov but the default shows on Noddle.

Strange I had both my Barclaycard's defaulted without to much hassle, but then again it probably differs from person to person and from creditor to creditor.

spiffyiffy

Puzzcat wrote: »

Hi Ploppy,

I had 3 accounts with 1 creditor but they weren't charging interest, 2 had been defaulted and the third was still on AP so I wrote and complained using the ICO guidelines and they did backdate the default on the debt and sent me £50 compensation.. Well worth a letter to your creditors even though slightly different circumstances.

Don'f forget to include the word complaint in your letters and that you will take it to the FOS if not satisfied. You can do that bit online after 6 weeks, obviously no guarantees but anythings worth a shot..!

Puzz.x

Hi Puzz,

Quick question; What are the ICO guidelines?
I ask this as my only creditor with the AP marking on my credit file, Argos; How would I go about getting my default back dated ?

Thanks

Puzzcat

spiffyiffy wrote: »

Hi Puzz,

Quick question; What are the ICO guidelines?
I ask this as my only creditor with the AP marking on my credit file, Argos; How would I go about getting my default back dated ?

Thanks

Hi,
The independent commissioners office, I believe it only works if you have more than one debt with same creditor and they have treated them differently.
Puzz.x

spiffyiffy

Puzzcat wrote: »

Hi,
The independent commissioners office, I believe it only works if you have more than one debt with same creditor and they have treated them differently.
Puzz.x

That's a good point and makes sense. I'm just stuck on how I get this AP marker off. I'm thinking off just writing to them to complain.

muppetscotland

Hi hope someone can help.

RBOS is our main creditor and the banking side have agreed to freeze interest and charges on 3 bank loans and an overdraft. However the credit card side of the business has written saying they will not freeze interest but are cancelling charges.
As this is a £19,000 debt the interest is racking up at around £400 per month so obviously we are never going to see anything but a hugely increasing number.

Does anyone have a template letter or suggested paragraph quoting the ICO or similar to try and prompt them?

With thanks

sourcrates

muppetscotland wrote: »

Hi hope someone can help.

RBOS is our main creditor and the banking side have agreed to freeze interest and charges on 3 bank loans and an overdraft. However the credit card side of the business has written saying they will not freeze interest but are cancelling charges.
As this is a £19,000 debt the interest is racking up at around £400 per month so obviously we are never going to see anything but a hugely increasing number.

Does anyone have a template letter or suggested paragraph quoting the ICO or similar to try and prompt them?

With thanks

Hi Muppet,


They are under no obligation to stop interest unfortunately, they are obliged to treat you fairly, but that doesn't necessarily mean stopping interest.
That's a very big number you have there, stopping payment to them would up the amount owed considerably, so that option may prove to be expensive.


You could write again telling them you think there decision is unfair, and asking them to reconsider, you don't need to quote chapter and verse to them, they are well aware of there obligations to you.


With those kind of levels of debt, I think an IVA would, in your case, be more suitable for you.

muppetscotland

sourcrates wrote: »

Hi Muppet,


They are under no obligation to stop interest unfortunately, they are obliged to treat you fairly, but that doesn't necessarily mean stopping interest.
That's a very big number you have there, stopping payment to them would up the amount owed considerably, so that option may prove to be expensive.


You could write again telling them you think there decision is unfair, and asking them to reconsider, you don't need to quote chapter and verse to them, they are well aware of there obligations to you.


With those kind of levels of debt, I think an IVA would, in your case, be more suitable for you.

Thanks I know it's a huge amount but we don't expect our situation to remain this bad for long...possibly up to 2 years after which we will be able to return to normal and/or settle F&F. It's just meantime we have 50% less income to work with. An IVA/Bankruptcy is not for us.

I have seen people on here with similarly big numbers in DMPs so I guess I'm not the only one

Brogden

muppetscotland wrote: »

Hi hope someone can help.

RBOS is our main creditor and the banking side have agreed to freeze interest and charges on 3 bank loans and an overdraft. However the credit card side of the business has written saying they will not freeze interest but are cancelling charges.
As this is a £19,000 debt the interest is racking up at around £400 per month so obviously we are never going to see anything but a hugely increasing number.

Does anyone have a template letter or suggested paragraph quoting the ICO or similar to try and prompt them?

With thanks

Interest charges of that amount each month are obviously very concerning for you but I still wonder if they are really necessary. At the start of my DMP, with more than £60,000 in usecured debt, I was 2/3rds of the way to the place you are currently in. I would not entertain an IVA whatever......period. I would have been in breach of my employment contract and would have had to request the privilege of keeping my job with no idea about how that may have turned out !!

As it is I didn't breach the contract because I didn't go anywhere near a formal arrangement and that was one load of stress out of the way !!

It is not for anybody to tell you what to do but please do not give up on getting that interest stopped. You need a formal complaint which really spells out all of the hardship this is causing you and your family. Advise them you are awaiting their final response which if not in your favour will mean an immediate escalation to the FOS.

The problems you are experiencing here are 'against the grain' and somewhere something must click into place. Work hard at this and do not consider anything formal as a quick fix unless it feels right for you....which I don't think it does. It certainly never did for me.

All the very best with it