DMP Mutual Support Thread (Part Three)

Janey51

mumzy when we first got our info pack and returned it to CCCS, it took a few weeks for them to write back with details of who was being paid what. During this time, we were getting bombarded with calls and letters so we changed our number and it was bliss.
CCCS had advised us to send token payments of £1 to each creditor until the DMP was up and running even if the creditors tried to push for more or make us "special offers".
When the DMP started,at first, we were only paying £5 to each creditor...some of them we owed over £10000 to. Only RBS carried on adding interest and charges but that was because we had a mortgage with them and they knew they could get their money by fair means or foul.
Each creditor carried on getting £5 for a year and then the amount increased after the first annual review when our circumstances had improved.

Hope that helps answer your question. If not, ask away.

GirlRacer_2

Thanks Janey51 it's all very new to me as I've never been down this road. Sis seems to have buried her head in the sand and now she's panicking because she can't cope with it all.

2 of her debts are with GE one for £350 credit card and another £7500 loan. I've drafter some letters to all her creditors enclosing a budget sheet which we've downloaded from National Debtline. Can't send it off yet though until she gets another bank account opened. Have applied online today to HSBC as they guarantee to open the account quickly. Once that's opened she can get her wages paid into it from end of this month (hopefully) and her benefits. Is there anything else you can think of that we need to do. .

Janey51

mumzy CCCS will let you pay by DD from your new bank account or by payment book at the PO.
CCCS will then distribute the money between creditors.
Token payments I sent by Postal Order.

mumzyof2

it all sounds so scary is it worth it? i dont think any of my creditors have my number but i hardly answer fone anyways lol..
so do i send a photocopy to my creditors and send the forms back to cccs...
why do we send token payments?

mumzyof2

How good are people stopping intrest and charges at:
Littlewoods
Next
Nationwide overdraft
capital one
provident
I also put down i have a overdraft with my current bank account but i wont put that down...as i need it lol

I also have a social loan but not including that as it wil come out of my benifits

Janey51

GirlRacer make sure you send everthing Recorded Delivery. Don't be persuaded by the creditors to pay more than is affordable. They will try and bully or be nicey nice but if it went to Court, the Court will only make her pay what is affordable.
If she gets horrible phone calls, write to the company and say her number is to be removed from their database. If they still carry on calling, log the calls and make a complaint.
Until the DMP settles down, there is usually a lot of jumping up and down and shouting from the creditors. Just ride it out. If you haven't got it, they can't have it.

mumzyof2

will i get sent to court????

Janey51

mumzy Littlewoods were fine and stopped charges and Interest straight away.
Capital One were very shirty and then suddenly accepted....the day after saying they wouldn't!

mumzyof2

whats if they dont accept what happneds? How will i know if they have accepted or not? How long does it usually take for them to accept?
Sorry for all the wuestions just trying to get my head into it, so i know what to expect

Janey51

mumzy I would think that is extremely unlikely. They may threaten but are only likely to follow through if they are sure you have money to give them!!
THe Court would look very unfavourably on a creditor who harasses a debtor who is trying to pay off debts to the best of his/her ability.