DMP Mutual Support Thread - Part 12

Suseka97 wrote: »

What you might find is that the letters from NatWest are just computer generated garbage that gets sent out periodically. If it were me I'd ignore them and carry on with the DMP as per. Many larger organisations simply do not 'talk' to each other and don't have good CIS systems that show what the state of play is with a debtor. e.g that he/she is in a DMP.

BeingDebtFreeStartsHere wrote: »

So....last year I wrote and complained to the Co-operative as they kept sending default threats but never actually defaulted the account. They replied with an apology and a £50 cheque and their letter also stated that “whilst we have an obligation to report a default on your credit file when payments aren’t made to the loan in line with the terms and conditions of your account, we identified that the information hadn’t been reported correctly; therefore the account was removed in its entirety from your credit file. Also due to this we won’t be recording a default on your credit file in the future.”

During February we received another two default letters relating to the debt but ignored them as we had been advised they would not issue a default as outlined in their original letter.

Today I get home to a final demand letter saying that we have not paid the arrears on the account and if we don't pay the full amount immediately they will seek to recover the debt by other means (stating they may pass the debt onto a DCA).

I am fuming :mad::mad: as they have gone completely against what they said in their original letter. I have drafted another letter of complaint quoting the original letter and saying we have had a SC DMP in place for 3 and a half years and never missed a payment through this.

Is there anything else I need to do? Have I totally misunderstood what the original letter meant??

Just after a bit of advice (and reassurance!!)

Thanks in advance

BDFSH x

BeingDebtFreeStartsHere wrote: »

Just wondered if anyone had any advice regarding the above post? Have sent a complaint letter off to The Co-operative today - hoping I've not missed something in their original letter!!
Thanks,
BDFSH x

Sunnysam72 wrote: »

First post on this thread as a lovely member recommended I join as I'm at the very start of my DF journey, and looking to start a SM DMP. I have done a bit of research and I understand I need to get an EF and basic bank account started, get rid of non priority DD, do and I&E, get letter templates from NEDCAB etc.. The bit I'm struggling to understand how to manage/arrange is my incomes when doing I&E, as I have 2 jobs ATM

1.My main job is a temporary contract until Oct 2018 (but could be extended and I won't know about that until later in the year). I have no problem with this one except about how it might be taken into account for arranging payments and then how repayments would be affected if the contract was not renewed? It's £900pcm net, so quite a lot to lose if a DMP was based on including this figure.

2. My other job is self employed as a franchisee, where I buy stock to sell on. Now, this is not a guaranteed income, because of the nature of how the stock is sold in sites - not secure. I recently closed my business banking account as I was being charged for the cash handling - I collect cash from sales and deposit it into my current account, then I buy new stock as and when I've got enough to pay for it. I have tax records etc for incom, but since I have taken on this other new job Oct17, I'm selling less now than I was before, having gone from 5 days a week selling to 2 days a week doing it (3 days on PAYE job) so previous years SA032 forms won't really be accurate. Plus it's completely different each week/month as I visit different sites and the amount collected, even from a particular site, can vary from visit to visit. I'm classed as a sole trader and don't have a massive turnover tbh (I've earned about £10/11k after expenses, NICS, etc). I've been running the business for 4 years but took the PAYE job to help pay debts off. Sadly it's not really working out as I'd hoped and I'm in way over my head now, though up to date with all my payments so far. I can guesstimate in advance how much I'll get each week but if I'm ill, or child is ill or problem with delivery/ car etc, then I obviously will get nothing. Example: I might collect £450 in a day, there might be £60 losses(stolen/unpaid for) and 2/3 needs to be invested for new stock, some put aside for NICs and taxes and then I'm left with the the rest of it. I might do the same round a month later and end up with a completely different amount collected, with a different proportion of losses, but I still have to put aside same amount of the expenses money, but end up with less in my pocket/wage. Should I be using the lower amounts for declaring my income on I&E forms or could I work it out as yearly budget, based on previous years, then aim to ensure I do that each month? Because my PAYE job is termly, and salaried, during school holidays I can do more on my SE job, which in effect is like doubling my income at these times, but that's only for 10weeks of the year. Those times make up for the days I lose collections on during term time.

Also, should I go back to having a business bank account and 'pay' myself a wage, and bite the bullet with regards to business charges or would I be able to still run the business from a basic bank account without creditors taking extra money from my account? I have absolutely no profits in the business ATM, and am literally scraping cash together to be able to continue with it, due to all my debt repayments. I have assets in terms of stock out and about, but that's it really.

I hope that all makes sense! Any advice really appreciated.

Thanks, Sam.