DMP Mutual Support Thread - Part 12

StopIt

debtfree1ab wrote: »

Hi, following this thread with interest- there’s so much good advice on here - I just spent the last day or so reading all 108 pages!

I’ve been self managing my DMP for about 4.5 years now but have just recently found out about cca’s. I sent some off at end of June and have just received a reply from Link re an old MBNA cc with a copy of my application and the t&cs from that time (Nov 02).

To my untrained eye it looks enforceable, but I know that January2015 had some success with a similar situation. Was just hoping to get some advice on where to go to get this checked out?

Thanks in advance for any help/advice

Either find a debt expert at your local CAB to take a look, or perhaps post the agreement over at Legal beagles for looking into.

motivated

Hi all

I’ve just been and posted my response to Wescot who are now managing our Halifax loans on their behalf. I’ve enclosed a letter generated from the NEDCAB site with my offers of payments and a copy of our I & E form again generated by NEDCAB

I hope I’ve done it right and hope they don’t start to add any interest and charges.

This is new territory for me as it’s the first dealings I’ve ever had with a collection agency. :eek:
M

sourcrates

motivated wrote: »

I hope I’ve done it right and hope they don’t start to add any interest and charges.

Motivated,

Wescot dont own the debts, they only manage them, they simply cannot charge you a penny more than the debt is already.

It is illegal for them to do so.

It would be just as absurd for me to charge you to read my posts on this forum.

motivated

sourcrates wrote: »

Motivated,

Wescot dont own the debts, they only manage them, they simply cannot charge you a penny more than the debt is already.

It is illegal for them to do so.

It would be just as absurd for me to charge you to read my posts on this forum.

Thanks Sourcrates although I would be willing to pay for your excellent advice :rotfl:

motivated

Positive Update for me

Just had confirmation from Wescot accepting our reduced repayments.

As long as we keep to the agreement we will not hear any more from them they say. How easy was that. These were the 2 Halifax loans that worried me the most.

Right now I feel like :j

Thankyou all again
M

K.T.W

*Deep breath*

Okay, I've been reading through some of this thread and I'm seriously considering going down the DMP route. I have some questions that I'm hoping you friendly folks can help me with.

Up until June I had a fairly well paid but very stressful job. I basically had no life, no weekends, and the stress was making me ill. I dreaded sitting down at my desk each day and I hardly slept. I handed in my notice and was fortunate enough to very quickly find a part-time job that I enjoy very much. I'm also doing freelance work from home to top up my income but this will take a while to build up and as a result I'm finding myself on about half what I used to make. I've applied for an additional part-time job.

My OH was totally supportive of my decision to leave my old job, and has noticed how much nicer the atmosphere is at home since I did. However, for the past few months I've found that my financial projections haven't stacked up and I'm falling into the trap of borrowing from one credit card to pay something else, etc. I'm sure most people here will be familiar with it. It means my debt is creeping up month on month, and making each successive month harder. I've even withdrawn money on a credit card a couple of times to stop payments bouncing (I know! ) OH obviously knows were having to be a lot more careful with money but doesn't have any idea of the extent of the problem as he's a dinosaur with no wish to Internet bank! My spending and my resulting debts have led to this situation and so I'd prefer to keep him out of it if I possibly can, rather than subject him to the same stress.

My questions are:

- Is it possible for only myself to enter the DMP and not my OH? His salary comfortably covers his own personal debts plus his half of the household running costs. We have a joint current account where both of our salaries are paid and all the bills come out of. It's my debts combined with a big drop in salary that are causing the problems, where even our combined income is struggling to cover everything.

- I think this is a 'no', but is it possible to enter a DMP with some but not all creditors? For example, I bank with NatWest and have a loan with them plus two fairly small overdrafts. Ideally I would like to keep up my payments on the loan at full (meaning it will be paid off in two years), and therefore keep my bank accounts in good standing.

Thanks in advance for any help!

Bounty1

Thanks for earlier reply to my post. I’m getting so confused reading all about this, is it best to do DMP yourself or through step change? Also why do people want them to default? Why do you talk about emergency fund? Sorry for all the questions.

Last question, I’ve read about charging orders on property’s, does this still mean credit card can get a charging order on my property and make us sell?

atlinford

Instead of things getting better things seem to be getting worse!
Gearbox has went in the car, can’t get spares from manufacturer or after market so it’s £3500 for a gear box, or give BMW £450 to do a diagnosis and see if they’ll chip in to cover the cost.
Tried to part ex car but my wife can’t get the finance, and I’m not going to try as im in a DMP. Car has £2.5k of negative equity so even if I did save it up and try to give the PCP company it back, they’d pick up on the gearbox straight away.
Dogs pregnant and will need a c-section in 2 weeks costing £450 (complete accident, got my Male dog neutered but he caught her a couple of days after and managed to get her up the duff, so that worked well). Even better is I’m working away when the puppies are due, so she’ll have to get a pregnant dog to the vets in a knackered car while we have no money.
Work have put £500 worth of expenses into my old bank account, which Halifax haven’t closed yet so it’s been eaten up by my overdraft and I’m now £500 down this payday.
Wife is at the end of her tether with everything as things are breaking around the house (toaster, iron, hoover) and no matter how hard we save or how much I work something else always goes wrong which we end up forking out for so we don’t have 2 pence to even scratch our !!!!!! with.

Sorry for the negative post, just needed to vent :wall:

kram

Hi atlinford,

I would look at trying to drop down to token payments for a few months to get things on an even keel.

It would also be worth posting your gearbox problem on the motoring forum to see if their are any other options available.

I hope you get things sorted.

Good luck.

sourcrates

KTW,

You can do whatever you like in regards to repaying your debts.

Stepchange would insist on all accounts been included, but if your doing it yourself you could manage it how you wish.

That’s the beauty of self management, do what works for you.