DMP Mutual Support Thread (Part Three)

smilealot

Welcome shinyhead!

Here's a lesson from someone who thought they had this whole DMP business cracked... Check your statements carefully. I've been living in ignorance is bliss land, not looking at my statements closely because I know everything is ticking along with my DMP and only look properly at my active day-to-day bank account. I couldn't remember my security answers to access my statements online with Cahoot (don't do posted ones) so I kept forgetting to check them. Anyway, I finally got on today, over a year into my DMP to find out they've been charging me £30 per month in non-paid direct debit fees, so almost half of my payment to them per month is not going towards clearing my debt. I'm furious, as that means it will be 28 years before I b****dy well pay them off. How sneaky, as I'm postive they said at the outset that they wouldn't charge me interest, but I suppose they're getting away with it by calling it a "fee". So, I'm now £390 more in debt with them than I thought. I've emailed them and Payplan but everywhere is shut for Easter and it's really brought my mood down. Can't believe it's happened. I know it's not the end of the world, but I thought everything was sorted

OVERSPENDING_IDIOT

hi cloudnine, thanks for the link & the welcome :beer:

WhoopieDoodle

Good morning everyone. I've just popped in to wish you all a peaceful and happy Easter! Don't eat too much chocolate!!!

smilealot, it was me that stated the problems with Nat West so thank you for your reassuring post

TightTone

Hello folks

I have recieved a letter from HFC today - who have been supporting my DMP payment through payplan for approx 7 months now. The leeter says that with out prejudice that I need to pay 50% of my contractual payment otherwise they will register a default on the account. It then says Note: if you already paying above 50% through an agreement made with HFC that I need to keep it up other wise the default will be served.

Do I just keep doing what I am doing - becuase my payment is higher than the 50% of the contractual paymnet?

Is this a sign that court action is to follow from HFC? Has this happened to anyone else before HFC filed for a CCJ and charge order?

Cheers

bestmumof3

smilealot wrote: »

Welcome shinyhead!

Here's a lesson from someone who thought they had this whole DMP business cracked... Check your statements carefully. I've been living in ignorance is bliss land, not looking at my statements closely because I know everything is ticking along with my DMP and only look properly at my active day-to-day bank account. I couldn't remember my security answers to access my statements online with Cahoot (don't do posted ones) so I kept forgetting to check them. Anyway, I finally got on today, over a year into my DMP to find out they've been charging me £30 per month in non-paid direct debit fees, so almost half of my payment to them per month is not going towards clearing my debt. I'm furious, as that means it will be 28 years before I b****dy well pay them off. How sneaky, as I'm postive they said at the outset that they wouldn't charge me interest, but I suppose they're getting away with it by calling it a "fee". So, I'm now £390 more in debt with them than I thought. I've emailed them and Payplan but everywhere is shut for Easter and it's really brought my mood down. Can't believe it's happened. I know it's not the end of the world, but I thought everything was sorted

I would certainly persevere with the interest/fees etc. The same thing happened to me with an account that is with a DCA (joint overdraft with OH. He signed a Trust Deed in Nov 2002, therefore RBOS passed overdraft details onto DCA who pursued me). When the arrangement was made to repay I was reassured that the total amount would not increase. I never ever received any statements, but out of the blue I received a phone call looking for final settlement - amount quoted was almost the original amount, despite making repayments of £50 per month for 4 years!!! They had slapped interest on without telling me. Anyway, after several phone calls and letters to them they have agreed that the interest should be frozen.

The other thing - I am about to leave a reasonably good career to enter into a years teacher training. How did you find the course? The only thing that kind of panics me is the financial side of things. I have 3 children and not sure what I would be entitled to.

shinyhead

TightTone wrote: »

Hello folks

I have recieved a letter from HFC today - who have been supporting my DMP payment through payplan for approx 7 months now. The leeter says that with out prejudice that I need to pay 50% of my contractual payment otherwise they will register a default on the account. It then says Note: if you already paying above 50% through an agreement made with HFC that I need to keep it up other wise the default will be served.

Do I just keep doing what I am doing - becuase my payment is higher than the 50% of the contractual paymnet?

Is this a sign that court action is to follow from HFC? Has this happened to anyone else before HFC filed for a CCJ and charge order?

Cheers

My experience of HFC regarding letters is that these are simply spat out without any particular logic at all. If you're paying over the 50% as in the letter then you shouldn't worry. BTW a default notice is a document they must send you before they can apply any legal action. A lot of creditors do but never follow it up.

The letters get much stronger than yours before they start anything legal.

shinyhead

Sorry, my last post may not have been as helpful as I intended. I presume you may have read my first post and got worried. My payments to them thru CCCS are much lower than yours percentage-wise and I think in my case they are going for the jugular. So please relax and don't assume what has happened to me will also happen to you. As in my last post that letter you received is probably what I call a computer spit-out - you'll probably notice the unreadable signature is a copy.

tinkerbell12

Hi all,

Hope you are all enjoying your Easter Hols.

Quick question - things are going surprisingly well this end with our first DMP payment going to creditors next week. We have 4 different creditors and all have at least acknowledged the DMP. None seem to be adding interest and Bcard just sent our statement saying please pay the amount agreed on time each month - no interest and no late payment fee.

So, does this mean my credit record will still be affected if creditors accept DMP and don't default the account? That may be a silly question so excuse my ignorance..
It's just that we were just abour managing to make all our payments but were living on credit hence DMP so our current credit record is good. If it will affect our record then I want to get going on the long 6 year path ASAP.

PoorPonyMom

Hello everyone, my first post on this site (but probably not the last!) I have set up a DMP with the CCCS, due to start on 1st April. Its amazing how much better I feel now I have something moving that is going to get me out of this mess - I was very much a head-in-the-sand type for the last couple of years and my spending spiralled out of control. Am now looking forward to the fact that if all goes well I will be debt free just after my 30th birthday

Can I just say, this website seems amazing, and its so nice too see everyone helping each other out

shinyhead

Hi tinkerbell12,

It probably will. Even though you're on an agreed DMP some companies issue a default notice anyway. I take it your payments are less than the usual minimum.

Must think up a signature!!