DMP Mutual Support Thread (Part 4)

Nicki_Sue

Carlos -
I'd give CCS a quick ring - am sure it'll be fne but always ask if in any doubtand DO NOT sign or agee anything with a creditor direct - keep going through CCCS because if you do something differently/pay additional amounts it can damage your dmp.
I suspect its a case of the left hand not knowing whatt he right is doing but give cccs a ring for your own peace of mind.

rayday2

I had a letter from Lloyds too nothing to sign just said it was formalising our agreement. When I read it it seems to be in my interests (which probably makes me more suspicious). However the last paragraph does read that no interest will be added. I am waiting till I get my next statement and take it from there.

shouldnobeta

Hi everyone

Just sorting out my DMP with CCCS should start 1st Nov - thank goodness:j
My OH knows about my debts and has a few of his own which he is able to pay so DMP is in my name only. However we have a joint bank account with Lloyds - the DMP is coming out of another account - is this all in order or will CCCS do a credit check and say we should both be on the DMP even though his debts are ok because we have a financial link.
Really want to keep Lloyds out of the DMP scenario as I know they are less than helpful - all debts on DMP in my name only and none are with Lloyds - my OH will carry on paying the Lloyds ones out of the joint account.
Sorry this is a bit rambling just putting my thoughts down as they occur.

Thanks

Kudox

Totally Brassic I wondered that about equity too, we also have considered selling tho in the current climate dont think its really an option. I would'nt like to be forced into doing it though after trying to sort out my debts through my DMP, its not like I'm trying to get out of paying them.

Shouldnobeta, I am also in your situation just me on DMP but also had a joint accont with OH. CCCS advised me to take my name off joint account altogether which I did to be on safe side.

Tigert

Hi, Sounds like Lloyds Collections may be getting organised at last.

I also had the letter formalising my DMP on my Credit card. The only downside I can see is that the minute my monthly DMP payment is more than the minimum payment, I go back to full interest (on a reduced rate at the moment) that won't be long in my case.

I think the key element is that they have made it contractual on both sides, therfore, so long as we stick to our agreements, then there is no liklihood of a CCJ or worse.

If only the bank account was that easy - still having issues with them

mummum2

Well, looks like Lloyds have been very busy bees! I have the same letter, detailing new contractual agreement, (apparently this only applies to Conditions 2.1 and 2.2) and if the money isn't received on the due date (17th of each month) for me, them I'm in breech of this same agreement. Althought will still be adding interst of a reduced rae of 5.78.

They have also mentioned that the letter reminds me of my revised arrangements with them and formally puts them in place to make them contractually binding against us both!!

All I can say from my point of view this is a good thing, so to make sure all is above board I have spoken to my DMC and asked them to make sure that Lloyds get their money before 17th of each month.

Good luck all who have similar from Lloyds. Still a 'lot' weary of them though!

MM2

TotallyBrassic

Kudox wrote: »

Totally Brassic I wondered that about equity too, we also have considered selling tho in the current climate dont think its really an option. I would'nt like to be forced into doing it though after trying to sort out my debts through my DMP, its not like I'm trying to get out of paying them.

I know kudox, it feels a bit unerving to think it could happen...although reading through some of the stories on my veteran dmpers thread, it seems unlikely.
Most peeps are reporting good success, and a huge relief...lets hope we do too on Nov 1st
xx

Shazand

carlos700 wrote: »

Yesterday i have received a letter from Lloyds TSB credit card it is more of a contract i think .The letter reads that my dmp with them has always been informal but they wish to make it more formal there are about 2 pages of terms and conditions .I dont really understand what this letter means and why send it now ? are they up to something ? The letter also says you agree to pay us £50 per month but that amount was the amount before cccs reduced it i now pay them £20 per month .I have rang Lloyds to ask what the letter means and also the amount is wrong i can only afford to pay them £20 per month ,the lady i spoke to seemed very nice and said it is nothing for me to worry about and it is ok that i am paying £20 just keep paying £20 and as long as i never miss a payment thats fine .
I dont trust them, are Lloyds up to something ? what is this contract all about, should i tell cccs do you think i need to be worried ?

Hi Carlos
We received the same letter, I was very wary as it is Lloyds TSB so I have sent a copy to CCCS and asked them to look at it and if I should take any action or should be concerned to let me know.
The only thing I can see not in our favour is that once the payments go above the 2% of the balance, they can start charging interest again, which will happen towards the end of the DMP.
Hope this helps.

Etherelda

I've just received by first default from egg. Nothing else yet to say that they have accepted my DMP.

Trouble is they have posted it to my boyfriends house.

My billing address was my mums address, as with all my other creditors. I changed it to by boyfriends, and he found out about my financial troubles and preffered me to change it back to my mums (He does know that credit ratings affect the individual and not the house, but he is funny about finance).

I did change it back about 6 months ago, but it still came through to the other address. I'm worried now. I know the talk of baillifs and ccjs are all talk, but if he finds out he'll flip.

I'm going to ring egg later and set them straight about my address. Trouble is, I'm on the electoral role at the boyfriends address.

eek.

at_my_wittsend

I had the very same letter from Lloyds Credit Card yesterday, I called them today as it made no sense as such to me.

Anyway, they are now saying that they are formally accepting plan and recognise and accept you will be paying your agreed DMP amount, though you are on a hardship plan and that only lasts for 6 months. Once the plan is due for expiry with them, they will write to say that the amount will go back to 2% and interest which has been redcued greatly (gits reckon they cant stop it fully) will go back to normal rate. I said all well and good but I know in 6 months my circumestances will be the same, he said fine, you just call us and we can see if we can renew it is down to the manager. They have stopped all charges (he said they are doing us a big favour) and will not add new ones unless of course your DMP payment is not received.

I try not to sound off to much at the poor person on the phone they are told what to ask for etc.

I have to say so far the ones I have spoken to on the phone at Lloyds collection have all been nice and friendly and know themselves what their company is doing is wrong.

I did say to Lloyds Collections, can you just take off the charges you have billed me for over the last couple of months, he said we can't do that, I said why ever not, bank charges are unlawful? oooo ummm, I said well they are and I can reclaim so why not just refund them, oh write to the manager here and we will see what we can do. Hmm funny, that's why they stop charges and not interest. You can recalim charges but you can do !!!!!! all about interest, how smart are they.

My next question, does a DMP company need to be sending the money to the collections team or still just winging it whereever they do at LLoyds?