DMP Mutual Support Thread (Part 4)

rayday2

Wow that is good but on the other hand frightening too - when would you have been debt free with the management company?

We nearly signed up with one, but the advice on the initial phone call was terrible and when it came through on paper we realised we would still be struggling they wanted a minimum £100 a month which at the time was not possible (think we pay about £75 ish now). My MIL took advice from Gregory Pennington but didn't go with them because they refused to put in in writing they said everyone could get the information off line and it cost too much to print it out. She had no internet so didn't go with them.

Anyway it always intrigues me how debt management companies work it definately seems an easy way to make some cash.

Madrocks

Thanks Rayday good to know its not just me Lloyds are being akward with

NW-ANGEL

rayday2 wrote: »

Wow that is good but on the other hand frightening too - when would you have been debt free with the management company?November 2011....:mad: ...i know!!! lol

We nearly signed up with one, but the advice on the initial phone call was terrible and when it came through on paper we realised we would still be struggling they wanted a minimum £100 a month which at the time was not possible (think we pay about £75 ish now). is this your debt repayment - not charges to DMCo?? My MIL took advice from Gregory Pennington but didn't go with them because they refused to put in in writing they said everyone could get the information off line and it cost too much to print it out. She had no internet so didn't go with them.

Anyway it always intrigues me how debt management companies work it definately seems an easy way to make some cash. me too- but at the time we had very little knowledge and were desperate but thanks to this site and fab people like yourself im on with it [/quote]

thanks
kel
x

Lodge

Thanks for all the info and support everyone - you really are all amazing

My biggest creditor is Lloyds TSB Credit Card (with a £9500 balance :eek::eek:)

It seems as though Lloyds are one of the most difficult to deal with, after reading all your posts?

At the moment Lloyds are accepting a reduced payment and charging a "nominal" interest rate (ie: I pay 60 quid per month and the interest is about 35 quid). This arrangement is due to end in a couple of months and when I set it up they said it was a "one time offer" to "help me through my difficult time" so I agreed BUT never signed anything. Now I won't be in a position to resume normal monthly payments when the arrangement ends so will they now take me to Court, OR is this just there standard procedure?

Any advice / experiences with Lloyds Credit Cards would be very appreciated.

Thanks again you lot.

D.

rayday2

£75ish is my debt repayment, I have never added it up really because I send individual amounts out I class them all individually. I think the charges were for the £100 I had to find for this company, £80 would acutally go to the debts.

I remember the saturday morning so well the information came through and I felt really fed up the light at the end of the tunnel had gone and then something made me look on the internet and I found the national debtline website and I really haven't looked back since. It has been even easier since this site came along and I realised I wasn't alone anymore.

MurrayMint

Parsley wrote: »

MM - Are you not sending the letter because then it's all going to happen and is official? That's how I felt. Took a lot of persuading to make myself send it. The next bit doesn't sound fun anyway. Waiting to find out if the creditors will stop interest and agree the DMP. I'm not looking forward to the next few weeks but I know it can only get better.

Hi Parsley,

Yep, I think you're right. Feels like once it's gone in the postbox, that's it, it's REALLY happening

But... I have checked and re-checked and the sealed envelope is now sat in my work bag by the front door and I have a full book of stamps, so it is going tomorrow. I think rather than fret, I need to turn this to a thing to celebrate, so here we go... :j

Jvic28

Good Morning Everyone,

I was just wondering about everyone mortgages. I have a really bad mortgage deal. I pay £497.78 a month interest only, 7.45% and would need at the most £81,779.88 to redeem the mortgage. I haven't always paid on time and as I'm on a DMP don't think I'd be able to get anything better.
I was just wondering if anyone else has got any better deals on mortgages whilst being on a DMP.

x

cloudnine_2

Bigdi wrote: »

Cloudnine, can I ask who served the statutory notice?

Hi Bigdi.... It was Nat West...

misspixierocktastic

Hi everyone

Quick question re dmp with cccs,If i was in a position somewhere down the line where i could pay off one of my debts and be in a position to offer a settlement how do i go about it (i know i'm thinking ahead)
Would i cal cccs or directly go to the loan companys themselves ?

Thanks everyone

longforthesun

:mad: Got 3 letters this morning from Lloyds, 2 the exact same saying your in arrears and all the bad things we can do to you the other one saying they had received a letter advising of our financial difficulties and to please fill in an I&E form. So i called them explaining they should already have an I&E from CCCCS the girl said they do but they will not accept the amount offered they want an additional £13 a month. I asked her if she had seen my I&E where would she like me to find the add ammount she was like a broken record just kept saying sorry we can't accept and we will keep adding charges and interest until you can increase your offer by £13 (to me sounds like a bit of blackmail). So they have been sent a CCA request by registered post today. Of course I am not totally surprised they did not accept from what I have read on here Lloyds seem to be a nightmare.