DMP Mutual Support Thread (Part 4)

TotallyBrassic

You never get a fully straight answer from any financial institution..no one ever quite knows what they should be doing!!!! and to think these people run the country.
Sounds quite positive from lloyds tho if they are recognising peoples dmp's properly. just make sure you read the small print :)
xx

cocker100

TotallyBrassic wrote: »

Our dmp begins next month, I wanted to ask if any of our creditors will know about the situation with equity in our property?
We have decent equity, but realistically couldn't sell at present (we had already considered this as a means to pay all debts off)
If any of our creditors find out about this from cccs does anyone think they would vigourously pursue a charging order over our dmp agreement?
Any help on this much appreciated.
It worries me slightly that we have chosen the dmp route over the upheaval of selling and moving into rented accomodation, we could do all this and someone could force the sale of our house.
Our highest unsecured debt is £7500.
Thanks guys in advance
xx

Hi,

I've been on my DMP for a year now and the only creditor out of six who has threthened us with a charging order has been the notorious 1st Credit Ltd DCA, who purchased the debt from my Goldfish card. These are really nasty people. As long as they are not one of your creditors, you should be fine as I haven't heard of any other company really pushing for one.

Kudox

Hi Totally Brassic, I've been following and posting on your other thread (very interesting) and I feel reassured too. My DMP started on 1 Oct and its early days I know but so far so good.
Good luck for 1 Nov, thats my birthday, so its usually a good day for me .

Kudox

Hi all, had my first acceptance of DMP letter today from Northern Rock, "until 130/10/2009" so good news and heres hoping it's a good omen for the rest of my creditors.

Tigert

at_my_wittsend wrote: »

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?

You should carry on making payments exactly the same as before.

debtman2007

I have had the same letter from Lloyds Collections. My only problem is that the money needs to be paid on teh 19th but my CCCS payments are always amde on the 25th and that can not be changed. In fact if they take a look at my payment history they will see all of my payments have always been on teh 25th.

TotallyBrassic

Nice one Kudox on first letter...lol, hope it's the first of many
I am feeling very nervous today, letters gone to creditors, bank had all dd's deleted, and my family allowance has to go in old bank monday, as no time to change this month!!!!! I will be at the cash machine at 6am..lol
Just hope they don't click on before then and snatch me money...
Keep posting kudox and we can compare notes...
btw how long between you posting letters to creditors before you heard from 1st one?


have a great day all

xx

mummum2

debtman2007 wrote: »

I have had the same letter from Lloyds Collections. My only problem is that the money needs to be paid on teh 19th but my CCCS payments are always amde on the 25th and that can not be changed. In fact if they take a look at my payment history they will see all of my payments have always been on teh 25th.

Might be worth getting CCCS to get in touch with them restating the payment date. That's what I've asked my DMC to do, as they state payment date for m must reach them by the 17th of each month!!

debtman2007

mummum2 wrote: »

Might be worth getting CCCS to get in touch with them restating the payment date. That's what I've asked my DMC to do, as they state payment date for m must reach them by the 17th of each month!!

I have sent a letter to Lloyds to explain and ask for a payment date of 25th. i have also contacted CCCS who will confirm to Lloyds that payments will be on 25th. Hope it works.

newlywed

I know it's not the point of the article.... http://uk.news.yahoo.com/pressass/20081003/tuk-crippling-debts-hit-retirements-6323e80.html

But apparently the average DMP is for debts of £32k and the average time is 9 years.

Strangely, I find that comforting to know that even though I was over that amount at the start - but thankfully not now, it should be paid off in less time than "average".