PayPlan

Angel_Cake_3

Hi there, I am new to all of this (not debt though) and wanted some advice....After months of worry and sleepless nights and rows with hubby over money, I made a big decision (after loads of research on the net) and I have just had my telephone interview with payplan (2 days ago). Although very nervous and the reality of actually confornting my problems was not nice, I already feel loads better .
It was all a bit too much to take in, but think most of it sank in. Basically they have suggested a DMP and have have told me to transfer Direct Debits to another bank account I have (someone I dont owe money to) and to get salaries transferred to this account also. With regards to creditors, once I have signed all the paperwork they are sending me, they will contact them and go through the DMP process.
Is there anyone that has gone through this and could help me out on a couple of immeidate queries I have?
1) What should I do with all this months credit card bills? I was thinking of sending them a small payment each so they can see I am still paying (up until now I have always paid every month, sometimes late, but always paid) and send them a covering letter with my payplan ref number and explain that payplan will contact them?
2) I am expecting that until everthing is set up and settled, i will get calls from creditors, how long does the 'set up' process take and how long does it take to settle down?
As I said, up until now I have been paying everyone, leaving us with not a penny left and also robbing Peter to pay Paul each month, this has got to the point where the damm is about to burst, hence my call to payplan.
Would appreicaite any helpful advice .....

Tigert

Hi,

I was in the same situation as you about 3 months ago. Got to the point where everything was up to date, but did that through borrowing on other cards etc. Realised I just couldn't go on.

I had 15 creditors and it's taken most of the 3 months to quieten down. Lot's of letters / calls. But I just unplugged the phone in the end. At this point 12 out of 15 have accepted the DMP but 7 of those have only done so in the past 2 weeks.

As for this months payments Payplan will probably recommend that you send them a token payment of a £1 just so they still see money coming in.

I can't pretend that I didn't worry and still do. But it's a weight off my shoulders knowing things are being sorted.

Hope things work out for you.

sunshine38_2

Angel_Cake wrote: »

Hi there, I am new to all of this (not debt though) and wanted some advice....After months of worry and sleepless nights and rows with hubby over money, I made a big decision (after loads of research on the net) and I have just had my telephone interview with payplan (2 days ago). Although very nervous and the reality of actually confornting my problems was not nice, I already feel loads better . It's true that you feel much better when you actually start to take action and regain control of the financial situation!


It was all a bit too much to take in, but think most of it sank in. Basically they have suggested a DMP and have have told me to transfer Direct Debits to another bank account I have (someone I dont owe money to) and to get salaries transferred to this account also. With regards to creditors, once I have signed all the paperwork they are sending me, they will contact them and go through the DMP process.
Is there anyone that has gone through this and could help me out on a couple of immeidate queries I have?

1) What should I do with all this months credit card bills? I was thinking of sending them a small payment each so they can see I am still paying (up until now I have always paid every month, sometimes late, but always paid) and send them a covering letter with my payplan ref number and explain that payplan will contact them? For this month I have sent token payments of £1 to each creditor whilst I sort out the paperwork with CCCS. So that will probably be a good idea for you. If in doubt I would give Payplan another call just to check on what to do.


2) I am expecting that until everthing is set up and settled, i will get calls from creditors, how long does the 'set up' process take and how long does it take to settle down? Again, still new to all of this but having read the DMP mutual support thread most calls seem to start to settle after two to three months (depending on what creditor you are dealing with). I understand you simply advise the creditor that you are entering a DMP with Payplan (in your case).


As I said, up until now I have been paying everyone, leaving us with not a penny left and also robbing Peter to pay Paul each month, this has got to the point where the damm is about to burst, hence my call to payplan.
Would appreicaite any helpful advice ..... Gosh, I know that feeling so, so well. You have done the right thing in seeking help and the guys and gals on here are always really helpful when you are unsure/have questions. As I say, have a look on the DMP thread which has more specific information about this way of dealing with your debt.

:hello: Hi Angel Cake and welcome to MSE.

There is a thread called "DMP mutual support thread" which you may find helpful to have a look through - sorry, I dont know how to add a link to it here:o .

I'm just about to go into a plan with CCCS so I dont know that much about things but I will try to help with what I've learned so far - see comments next to yours above.

Pop in any time and make yourself at home here - we're all here to try and help and support each other through these difficult times.

Sx

sunshine38_2

http://forums.moneysavingexpert.com/showthread.html?t=729285

Hello again - not sure if this link will actually work but I thought I would at least try it.

Fingers crossed ....

10past6

Hello Angel Cake

As your DMP is being set up, you can do one or two things, either send this letter to your creditor / DCA:

Your Address

Creditor DCA Address

Date

Dear Sir/Madam

Re:− Account/Reference Number xxxxxxxx

We are writing to inform you that we are seeking advice and assistance regarding our current financial difficulties.

To this end, we would appreciate if you could hold any action on the above account for a period of at least 28 days.

Also, during this period, could you please freeze interest and/or any other charges accruing on the above account.

We look forward to hearing from you as soon as possible.

Yours faithfully

Or send this letter requesting your credit agreement, if you send this letter, it will put your account into dispute until resolved.

Your Address

Creditor / DCA Address

Date

Dear Sir/Madam

Re:− Account/Reference Number XXXXXXXX

With reference to the above agreement, we would be grateful if you would send us a copy of this credit agreement.

We understand that under the Consumer Credit Act 1974 (Sections 77−79), we are entitled to receive a copy of our credit agreement on request. We enclose a payment of £1.00 which represents the fee payable under the Consumer Credit Act.

We understand a copy of our credit agreement should be supplied within 12 working days.

We understand that under the Consumer Credit Act creditors are unable to enforce an agreement if they fail to comply with a request for a copy of the agreement under these sections of the Act.

We look forward to hearing from you.

Yours faithfully

jak

Just wanted to say goodluck! You are in the right place and have taken the huge step of confronting your debts so well done.

X

Angel_Cake_3

:A Thank you all sooooo much for advice and support, for me this weekend has been 'light bulb' moment and one I wont look back on! I know it may get tough, but no tougher than it has been. I will get all updated and offer any support to others on the way!
Angel Cake

Angel_Cake_3

Thank you all sooooo much for advice and support, for me this weekend has been 'light bulb' moment and one I wont look back on! I know it may get tough, but no tougher than it has been. I will get all updated and offer any support to others on the way!
Angel Cake

thepinkladez_2

Hi Angelcake,

Just want to send my support and a massive well done to you for having you lbm!

As you can see we have just started on a dmp with cccs and everything seems to be going ok. i think we are quite lucky as we have had hardly any calls had a couple when we first missed a payment but as soon as i said we were setting up the dmp they left us alone! only had major problems with egg who have issued a ccj which is stressful but posting on here and contacting cccs has made the whole thing fairly stress free! Also feel as though i am learning how whole debt process works so can anticipate creditors next moves!

Remember to post any questions you have ( even the ones that maybe you think are silly!), as someone on hear will be able to help you, it will make you feel much better,(trust me!)

good luck again

Deep_In_Debt

Hi Welcome to the forum. I've just started in April on a DMP with CCCS and I feel loads better about doing it.

I sent token payments to all of my creditors for a couple of months with a letter explaining the situation and giving my creditors my CCCS reference number until the plan was set up. I got a little bit of hassle from the creditors and still am getting a bit of hassle but I just ignore the phone (I have caller display so I know who is calling me) and they just leave messages instead now. Most of my creditors appear to have accepted the plan quite quickly but a couple are giving me a bit of hassle and threatening me will all sorts but I'm just dealing with them in the best way I can. Being on this forum helps too as at least you know you are not alone and you'll get loads of support and advice.

I feel heaps better for doing a DMP and at least the creditors can see that I am trying to pay them back.

Please keep posting and there's no such thing as a silly question.

continualdiamond

Angel_Cake wrote: »

1) What should I do with all this months credit card bills? I was thinking of sending them a small payment each so they can see I am still paying (up until now I have always paid every month, sometimes late, but always paid) and send them a covering letter with my payplan ref number and explain that payplan will contact them?
2) I am expecting that until everthing is set up and settled, i will get calls from creditors, how long does the 'set up' process take and how long does it take to settle down?

Where with payplan and for us they actually sent us letters/expenditure sheets to send to every creditor. They did all the work for us, it was brillant as each letter was professionally layed out with creditors address and also had either my name or OH's on, depending who's debt it was. The letter basically said that we'd contacted them for advice and they'd help create this letter but at this stage weren't actually representing us yet.

We were to send every letter out with our token payment to make every creditor aware. Like you, we'd always made payments, some late as well, so we thought it was better to let them know the situation rather than just not do anything about it.

For us we had to deal with creditors on our own for 3 mths, so had that long to deal with the phone calls (mercers were the worst = barclaycard). That was only because we had one creditor we hadn't started making payments to (DFS with that 0 payments for a yr thingy), so we had to give them the full amount we'd agreed to when we signed for the sofa for 3 mths.

Those 3 mths were really difficult, had phone calls after phone calls, but soon got the confidence to just tell them once what the situation was and then hang up, after all they can haggle you on the phone, but if you dont have the £££ to pay, 5 mins on the phone isn't going to make the £££ suddenly appear to pay them.

Once payplan took over after 3 mths, its been a breeze ever since and sooooo wish we'd done it earlier.

Best of luck and take care