DMP Mutual Support Thread - Part 12

January2015

Onebrokelady wrote: »

Is the 30 day period not a law then,I would make a complaint to the financial ombudsman

The Standards of Lending Practice state:

Firms should consider freezing or reducing interest and charges when a customer is in financial difficulty.

The Stardards of Lending Practice replaced the Lending Code. The Lending Code used to state:

Breathing space for personal credit card customers
157. Where a not-for-profit debt advice agency has formally notified a subscriber that the customer is in serious discussion
with them on a draft debt repayment plan, the credit card provider should suspend collections activity while these
discussions continue, provided that they are concluded within 30 days.

So..... Lending Code 30 days no longer relevant as it has been superceded... and therefore 30 days to freeze interest and charges is good practice, not law

January2015

Summer12 wrote: »

Wobble moment - auto reply from AAD no one around for 2 weeks to look at returned CCA replies, no account details from Nationwide for my new account so no movement on transferring dd. OH payroll can!!!8217;t make changes to pay until actual hard copy received in the post. Should have started all this ages ago. Feeling panicky and sick just want it to stop now.

Don't worry about AAD. 2 weeks in the scheme of your DMP is nothing. Just wait

Phone Nationwide customer services and see if they can give you your new account information. They are very helpful.

Summer12

January2015 wrote: »

Don't worry about AAD. 2 weeks in the scheme of your DMP is nothing. Just wait

Phone Nationwide customer services and see if they can give you your new account information. They are very helpful.

I didn’t even think about ringing them! My brain is just in fog at the moment, spend hours just going over and over it all and getting nowhere really. Don’t know whether to just miss the M&S payments this month (will be the first time they haven’t had a minimum repayment ever), tell them we are in FD but don’t want it getting back to the bank till I know wages are going to right account (especially with OH terrible payroll dept this is very likely!). Yet a loan payment (to the bank) comes out on 22nd before pay day so when that bounces they will know somethings up. Or shall I just pay that one in order to keep wages safe incase they do go into that account by mistake..somebody here said timing is everything, they werent wrong!

Summer12

Do different creditors actually speak to each other I wonder.... so telling one about financial difficulties will get back to the others before I’m ready.

January2015

Summer12 wrote: »

Do different creditors actually speak to each other I wonder.... so telling one about financial difficulties will get back to the others before I!!!8217;m ready.

Creditors are not allowed to discuss your account with anyone else unless you give them permission, e.g. Stepchange. Data protection laws regulate against them sharing or discussing you or your account.

So.... no, telling one about financial difficulties will not be communicated to other creditors..... other than through your credit reference agency reports and all they see is those markers, the amount of debt, when it was taken out, and the monthly payments made.

January2015

Summer12 wrote: »

I didn’t even think about ringing them! My brain is just in fog at the moment, spend hours just going over and over it all and getting nowhere really. Don’t know whether to just miss the M&S payments this month (will be the first time they haven’t had a minimum repayment ever), tell them we are in FD but don’t want it getting back to the bank till I know wages are going to right account (especially with OH terrible payroll dept this is very likely!). Yet a loan payment (to the bank) comes out on 22nd before pay day so when that bounces they will know somethings up. Or shall I just pay that one in order to keep wages safe incase they do go into that account by mistake..somebody here said timing is everything, they werent wrong!

Phone M&S, tell them you are seeking support from SC and will not be able to pay them this month. Don't throw you good money after a debt that you are going to default on anyway.... stash that money away for your emergency fund M&S cannot talk to your bank.

Cancel any direct debt arrangements your have to pay your creditors now.

Puzzcat

Summer12 wrote: »

Do different creditors actually speak to each other I wonder.... so telling one about financial difficulties will get back to the others before I’m ready.

Most of them don't even talk to each other internally.. the left hand never seems to know what the right hand is doing..:rotfl:

[Deleted User]

To all the new people having wobbles at the start of their DMP, please don't worry. Easier said than done but we've all been through that gut-wrenching first stage and know from experience that nothing terrible will happen. Letters take ages to arrive, cross in the post etc etc. Creditors aren't going to do anything horrible just because they sent you a letter several days ago. In my experience, things progress really slowly and everything works out OK in the end.


Can I just ask a quick question please to those with UE debts? I want to tell one of my creditors that as I know the debt is UE, (contrary to what they told me:eek:) I won't be paying anything further. I've already stopped paying even the token £1 they were getting before, but they write to me every week asking for payment and I want to tell them once and for all that I'm not paying because the debt is UE. My query is who I write to, the DCA who is managing/collecting the debt or the actual owner of the debt. It's the DCA who write to me. I suppose the answer is blindingly obvious but want to make sure. There seems to be little communication and/or crossed wires between the DCA and the debt owner:(.

EmergencyNurse

January2015 wrote: »

See my answers in red :beer:

Thank you January2015, you're a star.:T
I contacted SC this morning before seeing your reply. You are absolutely spot on with your advice. Definitely need to pay BNPL of asap the interest is a shocker!!

Definitely want to pay off a loan with a credit union too, not financially savvy but I think its morally the right thing to do seeing as they were there when I really needed them.

Onwards and upwards.

Puzzcat

carbootcrazy wrote: »

To all the new people having wobbles at the start of their DMP, please don't worry. Easier said than done but we've all been through that gut-wrenching first stage and know from experience that nothing terrible will happen. Letters take ages to arrive, cross in the post etc etc. Creditors aren't going to do anything horrible just because they sent you a letter several days ago. In my experience, things progress really slowly and everything works out OK in the end.


Can I just ask a quick question please to those with UE debts? I want to tell one of my creditors that as I know the debt is UE, (contrary to what they told me:eek:) I won't be paying anything further. I've already stopped paying even the token £1 they were getting before, but they write to me every week asking for payment and I want to tell them once and for all that I'm not paying because the debt is UE. My query is who I write to, the DCA who is managing/collecting the debt or the actual owner of the debt. It's the DCA who write to me. I suppose the answer is blindingly obvious but want to make sure. There seems to be little communication and/or crossed wires between the DCA and the debt owner:(.

Hi cbc,

With my groundhog day ue debt I ended up writing to everyone as it kept getting passed around so maybe do both from the start!

Puzz