DMP Mutual Support Thread (Part 4)

Jvic28

shouldnobeta wrote: »

Hi everyone
Like lots of others I have been a lurker on these boards for months and have finally decided to take the plunge!

Hi, well done on facing up to things, I'm sure you feel better already.

shouldnobeta wrote: »

Main worry is my OH does not know about debt I know you will all say TALK TO HIM but there are lots of other family probs at the mo and I know everything would just come crashing down! I would like to start finding a solution to debts first before I talk to him so at least we could both see light at the end of the tunnel.

shouldnobeta wrote: »

Also what are the chances of them freezing our joint account as that would cause mega probs.

I'm not sure about this one to be hnest with you. I'm sure someone else will have some experience with this though. However, you know what I'm gonna say. You should at least tell him that you've overstretched yourself a bit but to trust you and ensure him that you are getting it sorted. I'm with CCCS and they are great, however they do send paperwork through the post and you will get lots of phoe calls from creditors when you stop paying the monthly payments so surely he will suspect something.

shouldnobeta wrote: »

I've also read other peoples posts who say some creditors still send debt to DCA or even court which is obviously a worry I naivley thought a DMP might stop this. It seems like you still get some hassle from creditors at least for a few months

There is no way to say how creditors will react. Some accept straight away and leave you alone (like most of mine) others will ignore everything you send/tell them, some will transfer you to DCA's. You never know. Sometimes the same creditor will deal will different customers differently so ther's no way of predicting it. But generally, the DMP is great and there is much less pressure on me now.

Good Luck

x

rayday2

http://www.payplan.com/debt-library/miscellaneous.php this is a list of connected bank accounts although if you have weird and wonderful credit card names you may have to poke around there websites to see who does the banking for them. Also GE Money (behind most store cards) and A&L will be with Abbey so count those groups as one big one.

Good luck with the CCCS I am sure you will feel much better after talking to them, with me it felt better once I could arrange things rather than just sitting dreading post and juggling money from one account to another.

ANY_CHANCE

OH moved out last sunday

we make payments to cccs i have 2 cards through cccs he has the rest do i ring cccs to seperate them now or wait to see what my finances are going to be when i get it all through?

rayday2

I think you are probably best ringing CCCS.

If it was me on my self managed one I would write tell companies, offer token payment of a £1 until it is sorted - but that don't help you!

I hope things are OK for you.

stugall

You might be interested to know that debts get sold on for about 12percent.

When making a F and F settlement, play hard, so on a £1000 debt offer £120 (or maybe £180).

Stuart

newlywed

stugall wrote: »

You might be interested to know that debts get sold on for about 12percent.

It is interesting - but how do you know that?

Also, some use in-house debt collectors - surely that means it isn't "sold" for such a low amount?

newlywed

ANY_CHANCE wrote: »

we make payments to cccs i have 2 cards through cccs he has the rest do i ring cccs to seperate them now or wait to see what my finances are going to be when i get it all through?

I would ring them and ask them what is best to do. They might be able to split them up and then put your bit on hold for a month or so until you know where you are with the money side of things.

GhostHunter_3

Hi

I might have asked this before so appologies

Which is the better approach to my creditors?

Send them the token payment / SOA letter first?

Send them the consideration to wipe debts clean letter first?

or send them both together ?

In all cases do I enclose first £1 cheque or wait for a response?

I have 1 joint debt with hubby for a loan but I have always had to repay it will this make a difference if its a joint loan?

I have 1 creditor I am in dispute with (Barclays Partner Finance) and they still havent sent the requested paperwork of the original agreement (been 2 weeks today) so what do I do with this one?

Ive just had another letter from BPF to say DD was cancelled (by me because of dispute) and demanding I pay £11.95 monthly payment or theyll charge £20 on top! Had this last month and been arguing over it since especially as I have Currys on 'my side' as they dont deal with BPF for purchase finance yet BPF are adamand its something I got at Currys!

Finally The only addresses I have for all my creditors are PO BOX addresses, I am avoiding the need to call them for a direct address as I have not answered the phone for 2 weeks now, so I assume this is where they intend me to send my letters?

How do I request a small ovewrdraft with new bank account just to give me a buffer zone? Not intending or wanting to go overdrawn of course but would give me peace of mind if I happend to tip over for a day or a couple of pennies I wasnt going to be faced with a fee?!

I think I have decided to leave the £317.52p as 'Working Tax Credit' if they want to know more let them ask and I will provide the truth that we have even less to eat without the donation



Many thanks

longforthesun

OH and I received identical letters from MBNA this morning saying they have not heard from us in a while and that we are not on a formal reduced payment programme. Was a bit confused as we had a letter last week saying the proposed payments are not enough to stop a default but to continue paying what we could afford. So i called MBNa girl said its a standard letter but all interest and charges have been frozen but account will be past into the hardship account que (whatever that is) and will be sold to a DCA sometime in the future but to pay what we can. Really pleased interest and that have stopped as we owe £5k and £10k to them. So I think out of 10 creditors 5 have agreed to hold any further action and agreed for us to pay what we can afford.

Good luck to all those just starting out. It is amazing how much better you feel when you can see things getting sorted.

WhoopieDoodle

longforthesun, MBNA are one of our creditors too. Although they state they have not "accepted" our monthly payments, they have stopped interest etc. They also write to us approximately 4 times a month asking for more money, or to pay the arrears, or suggesting we borrow the money to pay them off. However, I always send a bog standard reply back, stating we can't pay more than we are etc. It's got to the stage where I just print out the same letter each time, just changing the date!