DMP Mutual Support Thread (Part Three)

rayday2

Ex-Spendaholic wrote: »

Evening everyone

I have not been on here for a long long time. I was just thinking of you all today so thought I would look up the whole thread and see how you all are. I seen Teecee, Newleywed and Rayday posting whilst having a quick read back. What about Smilealot, 95Kelly, Sea78, Lonely, Joek and all the other old timers? Are they still about?

Several people pop back and check in boost peoples confidence when they get chance.

Think the thing is when you are quite into your DMP it becomes a bit way of life and you have been successful in achieving the balance back so not around so much but they do pop back quite a bit - fairly recently I think.

I know I am not around as much but I do like to keep an eye on this thread if not so much the main DFW board.

rayday2

Can anyone with experience with Halifax help this person out

http://forums.moneysavingexpert.com/showthread.html?p=11444839&posted=1#post11444839

carlos700

Hi everyone i have posted a few times about Lloyds credit card they were my only creditor who had not accepted my DMP they wanted me to increase my payments to them .Last month i got my usual letter from them saying i must bring my payments up to date but it also stated they may give me a default notice if i did not pay my arrears asap .
I have just logged onto my internet banking with Lloyds the CC it says £12 late payment charge but theres no interest been added to my account just the £12 .I wonder if they have now accepted my DMP ?

My Lloyds overdraft they have been really good right from the start they accepted straightaway but on internet banking it says overdraft interest £4 i know this is only a small charge but should i have to pay this ,when they told me they would freeze all interest should they have froze this fee to ?

rayday2

I would complain that they agreed to freeze interest and have not and demand they refund the charges. I would also point out the inconsistancy they have in dealing with your accounts (I know they are different types but same debt problem!) and see if you can push their hands a bit.

Its a case of nothing ventured nothing gained.

newlywed

Toffee_Penny wrote: »

I am so glad I watched GMTV that morning, can't even remember what I checked their website out for, probably the lose 5 stone in a week diet but I am so glad I clicked on their site and found this one. I would have still plodded along unhappily struggling to pay debts and swim through the brown stuff every month. Thanks to you guys I found the link to CCCS and asked for help. I now see new people joining here every day and wonder just how many poor souls are out there struggling under a mountain of debt just like we are/were?

I found this site while doing a search for a lasagna recipe!! Ended up on Old Style and then started reading some more... Still took me months to actually admit I couldn't sort out my debts by reducing outgoings as they were just too far gone

Still want to say thanks to Black-Saturn for her Lasagna recipe on here that eventually made me admit I needed help with my finances

andytwonames

I've had my first call, it was from RMA.

He said he was calling on behalf of MBNA and then wanted to ask me some security questions. I replied that since I had no idea who he was, he could just be anyone trying to steal my identity. I then told him that my last letter to MBNA stated very clearly that I did not want any 'phone calls and that he should write to me as instructed and then I hung up.

So... questions....
Does this mean the debt is sold or is it still with MBNA and RMA are just collecting agents?

Should MBNA have told me that the details were being passed on?

When a debt is sold, what happens to the interest? Does the new owner of the debt charge the same or what (regardless of the stopping interest for a DMP thing - I mean what are they allowed to charge)

newlywed

Toffee_Penny wrote: »

Can I just ask what actually happens when setting up a DMP?

I have sent the template to my creditors with a token payment and all the relevant information back to CCCS, so then what happens?

I understand you get a welcome pack with a payment slip to pay at the PO with your first payment but then what?

do you have to talk to CCCS? if so what for? do they just ask how you are feeling?

sorry if they sound dumb questions but I just wanted to know what are the steps. thanks

Hi, you pay your first payment at the Post office. Then you sit and wait for your creditors to contact you or write to you. They may ring and ask for money - DON'T GIVE THEM ANY - just tell them you're on a DMP with CCCS and give them your reference number. They may ring or write to say they accept or reject the DMP.

If they do say they reject it, they will carry on charging you interest for a little while, just stick with it as most companies seem to take a few months of getting payments to believe you and accept the DMP. They are then likely to stop charges etc.

CCCS will send you a statement each month with your total start debt, amount paid, and estimated amounts owing (as they don't know how much interest and charges have been added unless you update via the website regularly)

Then just carry on paying CCCS every month.

CCCS only rang me at the start because they had a query over one of my accounts. They were really nice and it was sorted really quickly. Then I've only rung them when I've had a problem with a creditor (usually I email them from their website).

They will ring you after a few months for a review but will send you a letter first to let you know when they want to ring for the review. They will just go over your monthly income/expenditure and check these with you and then amend the monthly payments if needed.

Hope that helps a bit

newlywed

andytwonames wrote: »

So... questions....
Does this mean the debt is sold or is it still with MBNA and RMA are just collecting agents?

Should MBNA have told me that the details were being passed on?

When a debt is sold, what happens to the interest? Does the new owner of the debt charge the same or what (regardless of the stopping interest for a DMP thing - I mean what are they allowed to charge)

For me, only one debt has been sold on. The original creditor did not inform me it had been sold. The debt collecting agency sent me a statement saying they had taken over. The interest was stopped by the creditor and did not re-start at all and there were no charges when the DCA took over, in fact they just said carry on paying the arranged amount.

The only thing I had to do was inform CCCS so they could make payment to the new people. I think you are completely correct to not give them your details. Wait until you get some sort of written contact from them.

rayday2

If a company does sell the debt on they definately should inform you. Most of mine except Lloyds (who I wish would sell on!) are with DCA now and most of the time I recieved letters from the DCA before the notice from the creditor the worst was 3 months later!

rayday2

Just for statistics sake lol!

I joined up the site when someone passed the link on about a fuel card - nowt ever happened with the fuel card and now I plague you all lol!