DMP Mutual Support Thread (Part Three)

ailsajayne27

Reformed_Shopaholic wrote: »

loopylu36 wrote: »

I had a call today from the Co-Op tho (credit card) They phoned to say that they had rec'd proposal from CCCS (£89 v £144 it SHOULD be) and they were happy to accept for 12 months. No charges but "minimal interest" of £3.50 per month - she mentioned 0.5% guessing this is annual? The lady I spoke to was actually extremely nice and said that they were much more receptive when people went via CCCS rather than ignoring the problem. So that was quite a nice start to my DMP. Not expecting all creditors to be that cooperative (no pun intended!) but I can live in hope! It does make me feel a bit more positive that the rest will accept tho.

Hi Loopy glad to hear it's going well with the DMP,

Feeling a wee bit worried as my DMP is only going to be sharing out a tiny £130 between 11 creditors - the worst one MBNA is used to getting £169 out of me every month so I can't see any of them accepting or being happy with their proportional share of £130.....

Definitely going to unplug the phone for the next few days...._pale_

Please has anyone else started on a low DMP with large debts to pay??

I work so I really can't see them being happy but, I just couldn't manage anymore...I will definitely be cutting back to try and increase the amount I can pay but, having buried my head in the sand for so long it's difficult to know how i'll manage just paying with cash from now on - it's such early days that I hope I can trust myself not to overspend...Have just bought some food for the week and buying it with cash totting up as I went along was a good feeling but I'm having lots of worries about how i'll manage day to day.

I'm rambling a bit now but fingers crossed will get CCCS formal agreement tomorrow so I can sort out first payment but I would welcome a bit more info and advice from anyone else who started on a low DMP.

When will they review it? And (answering my own question) I expect the creditors will hammer me with interest if i'm offering such a low amount compared to their usual minimum payment from me...MBNA for instance have kindly increased the interest rate to 34.9% :eek: I think I've mentioned that one before..sorry

Thanks everyone advice appreciated x

MBNA were fine with me, it took them a while to stop the letter etc but they have accepted the DMP amounts and stopped interest! So they will probably be fine with you!

10past6

Reformed_Shopaholic wrote: »

Definitely going to unplug the phone for the next few days...._pale_

Reformed

My advice, answer the phone to your creditors, but TELL THEM, YOU REFUSE TO DEAL WITH ANYTHING OVER THE PHONE, ask them to put their request for calling you in writing, and to remove your telephone details from their database.

There is also a template letter sowhere on this site re "The administration of juctice act 1970" I'm not familar with how to find it on here, maybe another member can supply a link.

Print the template letter of, complete it, and send it recorded delivery to each of your creditors, that should keep them off your back until your DMP is up and running smoothly.

Don't refuse to answer the phone, they won't give up, and anyway, most times it's from a call centre, so they will continue to call.

Keep a spreedsheet of everything you do, who you speak to, date, and time.

Reformed_Shopaholic_2

10past6 wrote: »

Reformed

My advice, answer the phone to your creditors, but TELL THEM, YOU REFUSE TO DEAL WITH ANYTHING OVER THE PHONE, ask them to put their request for calling you in writing, and to remove your telephone details from their database.

There is also a template letter sowhere on this site re "The administration of juctice act 1970" I'm not familar with how to find it on here, maybe another member can supply a link.

Print the template letter of, complete it, and send it recorded delivery to each of your creditors, that should keep them off your back until your DMP is up and running smoothly.

Don't refuse to answer the phone, they won't give up, and anyway, most times it's from a call centre, so they will continue to call.

Keep a spreedsheet of everything you do, who you speak to, date, and time.

Thanks 10past and AilsaJ, you've been really helpful and have reassured me.:T

Have set up a spreadsheet and have sent my DMP notification with token payments to the 11 creditors last week so just waiting for the CCCS payment pack to arrive (hope that will be early this week) and should then feel up to answering the phone...

Will see if I can find the template letter you mentioned 10past6

Thanks again, am already feeling more positive..just keep getting wobbly moments

10past6

rugby6ft8 wrote: »

whereas with a credit card its just a voice in India.

If and when you call, you end up in India, askthem to transfer you through to the UK.

Alternatively, go on to the "Saynoto0870" website, enter either the phone number you have, or Lloyds TSB, that should give you a UK number.

10past6

Reformed_Shopaholic wrote: »

Thanks again, am already feeling more positive..just keep getting wobbly moments

If you are the sort of person that never likes to be beaten, view this obstacle as a challenge, between you and your creditors, see who wins in the end.

10past6

Reformed_Shopaholic wrote: »

Will see if I can find the template letter you mentioned 10past6

Hello Reformed

Something along the lines of this should do:

Dear Sir / Madam,

Re accounts ref

I am writing to you to inform that I request all communications to me in writing. I do not want any further telephone calls made to me.

To continue to contact me by telephone after I have requested you not to constitutes harassment. I require all future communications in writing for any future dispute. Do not telephone me again – remove any telephone numbers you hold for me from your systems.

Your telephone calls are in breach of the Office of Fair Trading guidelines, as are the unfounded threat made by your operator. If you continue with them after the receipt of this letter, an official complaint, together with a log recording the times and frequency will be passed both to that office and to Trading Standards, For your information, all my telephone calls are taped.

This type of debt collection method is contrary to the ‘Administration of Justice Act 1970’. In that it is intended to cause alarm and distress to the recipient. Your methods will not be tolerated. A formal complaint to the relevant authorities will be made.

Take further notice that continued telephone calls after receipt of a request not to call may constitute a criminal offence under Section 127 of the Communications Act 2003

Communicate in writing and ONLY in writing. Your telephone calls will not be answered.

HOWEVER, ANY FUTURE CALLS WILL TRIGGER COMPLAINTS TO THE REGULATORY BODIES.

I trust I have made myself understood on this matter.

Yours,

*You can say you are recodring your calls, even if you are not, they won't know*

Copy on to a blank word document, amend, and then send of to your creditors, if you can, send each letter recorded delivery.

Keep the letter safe for any future reference

Reformed_Shopaholic_2

10past6 wrote: »

Hello Reformed

Something along the lines of this should do:

Dear Sir / Madam,

Re accounts ref

I am writing to you to inform that I request all communications to me in writing. I do not want any further telephone calls made to me.

To continue to contact me by telephone after I have requested you not to constitutes harassment. I require all future communications in writing for any future dispute. Do not telephone me again – remove any telephone numbers you hold for me from your systems.

Your telephone calls are in breach of the Office of Fair Trading guidelines, as are the unfounded threat made by your operator. If you continue with them after the receipt of this letter, an official complaint, together with a log recording the times and frequency will be passed both to that office and to Trading Standards, For your information, all my telephone calls are taped.

This type of debt collection method is contrary to the ‘Administration of Justice Act 1970’. In that it is intended to cause alarm and distress to the recipient. Your methods will not be tolerated. A formal complaint to the relevant authorities will be made.

Take further notice that continued telephone calls after receipt of a request not to call may constitute a criminal offence under Section 127 of the Communications Act 2003

Communicate in writing and ONLY in writing. Your telephone calls will not be answered.

HOWEVER, ANY FUTURE CALLS WILL TRIGGER COMPLAINTS TO THE REGULATORY BODIES.

I trust I have made myself understood on this matter.

Yours,

*You can say you are recodring your calls, even if you are not, they won't know*

Copy on to a blank word document, amend, and then send of to your creditors, if you can, send each letter recorded delivery.

Keep the letter safe for any future reference

:T Thanks 10past6 that's perfect :T

thanks for taking the time and trouble to do this, I'm sure it will help a lot of us just starting our DMPs and wondering about the future.

:A Will cut and past the template now

skibadee

Thanks for that template, I feel I may need to use that for 1st Credit too.

loopylu36

yellowmonkey wrote: »

Rugby. Figures look OK to me.

For anyone else a basic formula to work out how to pay your creditors is

Add up all the individual debts to find out how much you owe in total.

Divide each individual debt by your total.

Multiply that figure by your money left each month to find out how much you should pay each creditor.

Example below

£500...CC

£500...OD

Total = £1000

Spare per month for debt payment £150.00


500 (cc) divided by 1000(debt total) x 150( money spare for debt per month) = £75

500(Od) divided by 1000 x 150 = £75

That is a basic example but hope it helps

ym

Hi there

I have spoken to CCCS this morning about my payments and I'm not sure the caculation above, is the one that they use. For example they have advised that the repayment on my NR Loan willl be £119 per month, (the contractual amount is £280). I questioned this becasue £119 x 90 months (the term of my dmp) will not pay this off. He then advised me the debts are effectively "snowballed" and then when smaller debts are repaid additional money then goes to bigger ones. it seems that we could get to a stage (in a few years - lol) when we are actually paying more than the contractual payment to the few creditors that we are left with,, having paid smaller balances off. It seems like quite a complicated calculation (done by computer apparently).

BTW RUGBY Lloyds have apparently rejected the offers on our credit cards - I'm told they ALWAYS reject without seemingly giving any consideration to the arrangement - they have been offered £175 against my contractual payment of £260 - so it's not like it's a titchy amount.

Oh well, lets wait and see what the rest of the week will bring.

yellowmonkey

Apologies. Forgot to say that is the formula for working out Pro Rata payments.That is what I use for Payplan but,as you say, CCCS may be different.

ym