Broken Debt Management Plan

[kayleighd]

Hello

I have recently done a debt management plan. It was a real big help and after a month or so i got a reply from most of my creditors, so i made a payment and was then put onto salary at work so i had to wait a month to get paid, then it got to Christmas (im making excuses i no) but anyways the day i was going to make a payment i got a phonecall from my biggest creditor Lloyds Tsb saying id broke the agreement and they wanted 4grand by the end of the day.
Is there anything i can do with this???
Please any help would be great!!

[hedgey06]

Hi kayleigh,

This isn't my area of expertise, but I'd say there are definitely things that you can do! Have you been back in touch with Lloyds to re-negotiate/explain your circumstances?

I'm sure somebody with experience in debt management will post back soon, in the meantime - have a good read around the threads in this forum.

Best of luck

[Brassed off]

Hi Kayleigh and welcome to the forums

One word of advice that you will hear time and time again on here is to NEVER SPEAK TO ANY CREDITORS OR DEBT COLLECTION AGENCIES ON THE 'PHONE. Always insist that everything is in writing only. You will need written proof if you ever have to report any of them to a regulatory body. 'Phone calls can be 'mislaid' or denied later.

As far as Lloyds TSB are concerned, if they do call you again, tell them that you will not speak to them on the 'phone and that all correspondence must be in writing only. Don't enter into any conversation with them at all. Let them write to you and then come and tell us all about it so that we can help you.

I'm no expert as I've never had a DMP but so that peeps can help you, could you just give us a bit more information.

You say you have a DMP - have you done this yourself or are you with one of the DMP agencies?

Could you advise us on what types of debts you have ie credit cards, loans, overdraft, etc and give us a rough idea of how much they are and how long you have had them?

Sorry for the twenty questions but it really will help us to help you.

Good Luck

Bo

[rory32]

Thread moved to General Debt Forum.

[rory32]

i got a phonecall from my biggest creditor Lloyds Tsb saying id broke the agreement and they wanted 4grand by the end of the day.

They can want away but they are being completely unreasonable making such a statement. I'm quite sure they would put such a statement in writing, this is why you should not talk to them on the phone. Phone conversations can be denied.

[kayleighd]

Hello everyone and thanks

I have done the DMP myself with the help of a company called payplan, they sent me a brochure on how to do it.

The debts i have are 2 credit cards and a loan, i stopped paying them when i moved into my own house lol, The loan is with Lloyds and she said its for £4800 i think and one of the credit cards is with Lloyds also and is for £1800 the other is with Egg and is for £1300.

Hope this helps...

[ScarletPimpernel]

Do you pay the creditors directly, or do you pay one amount to Payplan for them to distribute?

Anyway, the very worst thing that can happen is that Lloyds issue a court claim. However, it's extremely unlikely that they'll do it, because they know that a) they have a duty to try to reach resolution without court action - and if they agreed to a DMP, and you paid them, and one 'blip' led to them making a demand they knew you couldn't meet, the judge will not look kindly upon them, and b) the court will only order payments that are affordable, so Lloyds will either be back where they were, or possibly worse off. Their demand is just bluster.

As everyone else says, don't talk to them on the phone. Keep everything in writing; it gives you time to think, if nothing else.

[kayleighd]

Okay thank you, i pay them directly.

So shall i just send them a letter saying i cannot afford what they ask for and i will pay them the amount i was before in my DMP??

[tomterm8]

yes, I would advise you to do that. Make sure you send it with at least proof of postage.

Just keep on paying what you can afford, and ignore their blather.