DMP Mutual Support Thread (Part Three)

rayday2

I think the reasoning for not including interest charges is that when the balance reaches zero, obviously the creditor is going to say there is still some to pay, ie the interest and then you can try to negotiate paying as little as possible.

But that is a little technical for a DIY DMP or it would be for me.

I don't mind mulling things through with you lol sometimes when you throw things into an arena you come up with ideas you had not thought of. It sounds like you are quite near the end of your DMP journey hence the dilemma you are in. Mine only get the tiniest amount compared to a minimum payment so they are quiet!

carlos700

Loopylu

Hi my debts with the two loans with Lloyds are £7000 with one loan & £8000 with the other .Northern rock loan is around £6000 .Lloyds were a worry for me to as i owe the most to them and one of the loans i have not had for very long .

I am paying to them just under half payments for the loans if you are planning 50-60 % i would not think they would reject that but remember do not leave yourself short and agree to pay them to much .

This is all new to me to even though at times i panic i know i have done the right thing .I was advised not to ring my creditors leave it up to CCCS to do there work for me but i hated not knowing if they would accept or not so i rang anyway .I must say they was all ok on the phone it was just a quick call they all just stressed that i must not miss any payments with CCCS as they were only going to agree to a DMP once there would be no second chances .

Anyway i wish you all luck and i will let you know how i get on in the coming months .

milliejon

Well - I've just checked through the paperwork and the minimum monthly repayments I should be paying to the three accounts now off the arrangements come to about £40 under the actual amount I pay them - so I think this will balance off. When I update the creditors I will include the actual balances - as long as they don't want more from me than I can afford I should be OK - it'll just take longer to pay them back.

One thought occurred to me whilst looking at everything written down. I have 10 debts:

- two are personal loans which had the interest added at the beginning;
- four are store/credit cards still with the company I signed up with (three of these are now off the arrangement; the other has only agreed to the latest offering for three months instead of the usual six);
- the other four are with debt collection agencies.

Am I correct in thinking that the debt collection agencies won't add interest?

creditwreck

how do join this thread have DMP with CCCS for 13 months now hooray

Madrocks

Hi again all, im trying to find contact addresses to send my token payment off for Northern Rock and Tesco finance,can anyone help? Also regarding lloyds should i send my letter notifying them im going to be starting a DMP to branch address or a genreral head office address? Thx

rayday2

milliejon - Debt collection agencies don't usually add interest on, they make their money by paying less for the debt than what you owe.

Creditwreck - I will add you in a moment to the thread, but you can just jump in without a number lol!

Madrocks - re Lloyds what is it for, credit card, loan, overdraft etc because it depends on what it is for as to where you send it too!

Madrocks

Thx Rayday its for an overdraft

rayday2

Ahh complicated I sent mine all over but the one response early on I had that made sense was to this address

Customer Support Unit
New England Street
Brighton
BN1 4GU

Looking through my files I had this address writing to me, one in Chelmsford and the bog standard "hey you have gone over your overdraft letters" but a quick glance through and the above address seemed to give me more specific advice and even recommened I got in touch with the CCCS or National Debt Helpline!

facingit

Hi everyone and thanks for your replies yesterday. I have sent my budget and list of creditors back to buisiness debt line today to be forwarded to payplan ( i believe) but have realised i have missed my monument card off the list, will i be able to add this on? Also are there any resrictions on travelling abroad when on a dmp ( possibly a daft question) Thanks for your help.

carlos700

Address for Northern Rock

Northern Rock Personal Loans
Northern Rock PLC
Selectapost 19
Rotherham
S97 3DG