EGG - Interest\Charges\DMP Help!!

[slindy21]

Hi

I'm new to this forum and hope this comes across ok?!

 

I'm looking for some advice please?

 

We have unfortunately been in a DMP since 2004 which has helped imensely during the last few years. All our creditors have been quiet and and Payplan have been very good in alleviating all the stress that being in this situation brings. We are now at the stage where our family can help raise the money to settle all our credtors. So far we have repaid nearly £10,000 to our current creditors, but hate to think overall what we have actually paid as we have settled as much as we could as we went along. Having this money available was a huge relief or so we thought until we actually delved further into our current position. We've done the credit agencies and obtained credit reports and well when we looked at it I could've have fell off my chair!!! There are current balances on there which are more than we originally owed!! Some look ok compared to where we thought we were but the one that has completely floored me and left me feeling really sick is the one from Egg.

 

The original balance that was in default and dealt with by Payplan was £6661, the current balance according to the report is £6942!!!! According to Payplan we have paid £2820 so we are absolutely gutted and feel like we are back to square one because of this. I cannot remember if Payplan had said interest had been frozen on this account. My wife also has an Egg account which is the same we still owe £3500 on this now having originally been £3421.

 

Can anyone provide any advice on anything we can do or what we should do. To us now a settlement figure is now pie in the sky.

 

Please please let me know

 

Many Thanks

[cerberusalert]

For credit card, loans and catalogue debts you should send a CCA request to the creditors who are being paid now; http://www.consumerforums.com/resources/templates-library/86-debt-collectors/581-cca-request-letter they have 12 working days from receipt to provide you with an enforceable agreement. Send it recorded delivery including a £1 postal order and do not sign the request. When you start getting replies, start a new thread for each one and we'll advise accordingly.

[cerberusalert]

Depending on what you receive back will determine what you should do. For instance if any of them are unenforceable you can withold payments which will enable you to concentrate on the others and therefore offer more in a full and final settlement.

 

Given the age of these debts any defaults which have been added to your credit file will either have dropped off or will be due to drop off, which puts you in an even stronger position with any unenforceable debts because you don't have to negotiate a settlement in order to 'clean-up' your credit file.

[slindy21]

Thanks for the quick response. So even if I know I have signed an agreement is this still the first step i should take?

 

I've been scouring loads of site looking for advice and have seen ones where I shoudl do a SAR so that i can look at the interest and charges that have been applied. Should I do this as well? with 8 or 9 creditors is going to get costly.

 

Whta do you think?

[cerberusalert]

Thanks for the quick response. So even if I know I have signed an agreement is this still the first step i should take?

Yes because there are several things which can make it unenforceable.

 

SARs can be done later depending on the outcome of your CCA requests. If any are unenforceable any money you claim back because of unfair charges will be offset against the debt anyway, so it's only worthwhile doing it for debts you will have to repay.

[cerberusalert]

If you have an overdraft you should send a SAR & if any of your loans are with the same bank list all the a/cs in the request because one SAR covers all accounts within the same bank.

[slindy21]

So it's now 15 days since my Creditors received my CCA request. I sent them 1st class recorded, with the postal orders etc and this has happened:

Cabot

As suggested, they sent my PO back with a letter saying that they would try and help locate copies of my agreement.

Egg - My Wifes Account

Egg sent her agreement and an internet copy of the T&C's.

Egg - My Account

No response received as yet on mine.

RBS Mint

No Reply as yet.

CL Finance

No Replies I sent 2 requests as they hold 2 of my HSBC accounts.

 

I've checked on Royal Mail and they have been signed for at the other end, but then how do I know they reached the right place? I know the egg one did as it was signed for by the same person that signed for my wifes. Really suprised that we have only received 1 out of 6. Is this the norm? And what do I do now??

[blueda]

Hi slindy, the creditors have 12+2 working days excluding weekends and bank holidays to reply, as for your wifes Egg account, if you could scan it up on the forum blanking personal details, then we will have a look and advise you if it is enforcable or not.

[cerberusalert]

It's fairly normal yes. Those that haven't replied you can send the 'in dispute' letter & you can legally withold payment until the provide an enforceable agreement. http://www.consumerforums.com/resources/templates-library/86-debt-collectors/571-failiure-to-provide-a-copy-of-the-agreement-within-the-prescribed-timescale

 

For the one you got back if you scan it remove identifying details and post it in a new thread we'll check it out for you.

 

It's best to start a new thread for each one then they won't get confusing.