DMP Mutual Support Thread (Part Three)

Bigdi

Has anyone had dealings with HSBC? They are only one of of two creditors dragging their heels with accepting the offer from PP. I received a letter today saying that they will accept £165 for 6 months (minimum payment £200). My offer is £25. If I don't pay by £15 April they will apply the strict terms of the CCA resulting in further action. Don't mind it going to a DCA but not a CCJ. Is this just a frightener? PP said just forward it to them. There's always one.......................

cloudnine_2

Hi Bigdi. I don't have any experience of HSBC but I do with other banks. I was in a similiar situation with Nat West. What is it about letters from banks that seem to un nerve us more than from card companies? In fact, the card companies are just the same, banks. But in our minds, they seem to frighten us more, especially if they were your main bank for many years, as the assumption is that they know more about your finances than anyone else. My theory is that all collection departments are just the same and their main goal is to squeeze as much money out of you as quickly and as much as possible. So yes, its a frightener. If you're anything like the rest of us on this site, you have no more to give. So, yes, imagine yourself in the CC. And when they ask you for more, there just isn't any. You're doing your best. If its not broken....don't try to fix it !!!

Bigdi

Thanks cloudnine. Yes, they were our bank for over 30 years! Strange how they are listed as supporters of PP. Perhaps they should think again............

skibadee

Hi can I join please,
Started a DMP with Payplan in february....will take years to clear...total debt £55,000.
Have had problems this past week with 1st Credit who have bought £6000 debt from Citi cards.
The first I knew of this was when I had a phonecall from 1st Credit last friday.....the man who rang was very aggressive.......I know the debts are my own fault and part of the reason for them was due to illness....I'm not trying to deny this.
The phonecall made me panic and I started to look into bankruptcy....but after talking to Payplan I have decided to stick with DMP for the time being and see if things settle down.
Do things settle down?

tinkerbell12

rayday2 wrote: »

Tinkerbell - I think the only way you are going to know is to ask - the remortgage market at the moment is very chaotic I got a remortgage with Chelsea BS on a rate of 6.34% for two years think it will go up to about 7.23% after that period but if we stay with them and are not late paying in two years they will take us on as "normal" customer.

I was with sub prime mortage before and that rate was 9.9% so there can be a big interest rate difference. You will have to weigh the costs up remembering of course you now have to pay for house packs when you sell your house etc.

Do the figures get quotes and see if its worth it - it could turn out that you are better keeping your current house espeicially if you like it, then again you could save money who knows till you start testing the waters!

Thanks rayday - we spoke to the bank today. We can port the mortgage across for the remainder of our fixed term for the penalty of just over £1000. Plus we will have to be credit checked etc like a new application. The whole idea sounds stressful and overall not worth it for the monthly saving.

Thanks for the advice though...

rayday2

Sometimes things aren't worth it but we don't know till we try. If you like your home the whole point of a DMP was so your home was not threatened. You never know your finances could improve and you pay things off quicker anyway - who knows!

Personally I still wish for the 6 numbers!

rayday2

:rotfl:

skibadee wrote: »

Hi can I join please,
Started a DMP with Payplan in february....will take years to clear...total debt £55,000.
Have had problems this past week with 1st Credit who have bought £6000 debt from Citi cards.
The first I knew of this was when I had a phonecall from 1st Credit last friday.....the man who rang was very aggressive.......I know the debts are my own fault and part of the reason for them was due to illness....I'm not trying to deny this.
The phonecall made me panic and I started to look into bankruptcy....but after talking to Payplan I have decided to stick with DMP for the time being and see if things settle down.
Do things settle down?

Added number 168 I think! Hubby dropped a plate just as I was memorising! But welcome anyway :rotfl:

tass

skibadee wrote: »

Hi can I join please,
Started a DMP with Payplan in february....will take years to clear...total debt £55,000.
Have had problems this past week with 1st Credit who have bought £6000 debt from Citi cards.
The first I knew of this was when I had a phonecall from 1st Credit last friday.....the man who rang was very aggressive.......I know the debts are my own fault and part of the reason for them was due to illness....I'm not trying to deny this.
The phonecall made me panic and I started to look into bankruptcy....but after talking to Payplan I have decided to stick with DMP for the time being and see if things settle down.
Do things settle down?

We are also having problems with 1st Credit. For the first time in nearly five years we are having sleepless nights again. 1st credit have served a writ on my OH for a debt they took over from MBNA. We have written to the DCA and the court offering a payment (a bit more than they were getting anyway because of our review) and asking the court to grant a time to pay order. It doesn't look like 1st Credit are going to accept the offer and i wonder if anyone on here knows what the next step in the Scottish Court System is. Sorry to hijack the post but am having problems posting.

skibadee

tass,
Who have you got your DMP with?
When did 1st Credit take over from MBNA?
Sorry I can't answer your questions.....do you own your own home?

tass

We're with the CCCS.

Am not sure exactly when they took it over - fairly quickly though i think.

We do own our home and are keen not to have to sell it. We should be able to clear all our debts in less than two years - 1st Credit are one of a few creditors but the only ones who are being awkward.

The CCCS are being helpful but i was just wondering if anyone had experienced this before. My OH is in the police and could do without have to go to the local court to explain himself.