Dmp plan do i or dont i

[richardj35]

Hi,i,m new to this site and have been reading alot of the posts,

 

here is my situation

 

i currently have over £23,000 in credit card debt acumilated over 10 years,

 

i have contacted cccs about the situation as i am finding it hard to keep up repayments.

 

i have managed to get citi card to stop interest and have been on that for a few years,

 

barclaycard have reduced interest,

 

m+s card had froze interest for 12 mnths but now refuse to and they want me to increase my payment as they say it is not right that i am paying more to other credit cards than to them.

 

my other cards have refused to stop interest or accept smaller payments,

 

i have sent them all the usual template letters but with no luck from that.

 

The cccs have sent me the paperwork for a dmp plan which i have currently next to me filled out ready to be posted but now i am unsure what to do,

 

it is wearing me down each month having to deal with all these creditors individually and with no good outcome from them,

 

citi card have been really good and are happy to keep on the plan,i have included them on my dmp as they needed all my outgoings etc,

 

do i go on this plan so as just to have the one payment which is more affordable or keep trying with other creditors of which i have been for the last 6-8 months which now seems like i,m getting nowhere.

 

I am also with nationwide who have given me no help whatso ever,they have had over 3000 in bank charges from me for which i had my case in the courts and then that got thrown out,i have £120 of charges last month for returned dd and to top this off they reduced my overdraft which i was basically living off from £1800 down to £700,

 

my wife is currently out of work and looking for a job but this seems not to matter towards my hardship as far as the companies are concerned,

 

so do i go on the plan,has anyone else gone on the plan and are they still getting hasseled by creditors,

 

 

your advice would be much appreciated,many thanks

 

richard

Edited November 2, 2010 by dx100uk
clarity

[victoria_siempre]

Hi Richard

 

Welcome to CAG.

 

I am not an expert, just a simple soul fighting a similar battle with the great support of CAG.

 

There is nothing to lose in holding off from the CCS DMP until the status of all the alleged debts is clear in your own mind.

 

What is the status, history and amounts of them all?

 

Which might you want to challenge because of PPI, penalty charges or failure to provide a true CCA?

 

How much can you realistically afford to pay each month based on a realistic I&E?

 

If you take the lot as it stands to CCS then there is no guarantee that all creditors will freeze interest and charges and CCS will expect pro-rata payments of at least £100 per month in total. people have different experiences of CCS DMPs - read the threads on CAG

 

I should do the preliminary list first and clear your mind.

 

You might then go to CAB for advice.

 

Once the situation is clearer, you can post again here and you'll get support.

 

Best wishes

 

vic

[richardj35]

Hi vic and thanks for reply,list as follows

Barclaycard visa £3,864 currently paying £85 mth reduced interest

Barclaycard mastercard £4342 £85 mth reduced interest

Citi card £2300 £60 mth no interest

m+s £3680 £50 mth but now want more money and have started charging interest again

post office £2256 £60 mth currently 3 mths behind on payments

rbs £1878 £57 mth 2mths behind

natwest £2243 £58 mth 3mths behind

asda,tesco virgin cards, balance of £1500 £60 mth

i did not have p.p.i with any of them,cccs have worked out payment to be £398 mth,when you say about provide cca do you mean check enforcement of agreement ?

[dx100uk]

yep i'd fire a cca of to everyone.

 

and these charges...

 

all CC charges/fees and loan charges/ppi can be reclaimed

 

as for I/E sheet

 

never tell anyone your pers financial details

the only person that can demand that is a judge

hence the troble with M+S!!

 

take control....its YOUR money not theirs!

 

you decide what they get not THEM.

 

dx

[richardj35]

hi thanks for reply is there a template letter on this site as not sure what to write,would this also count on catalogue agreements?

[dx100uk]

yep look in the library tab top left

 

catalogues are the same

 

dx

[Tingy]

DMP's are easily done by yourself. You do need a VERY clear of your position, what you owe, how much and to whom as well as an honest and accurate I/E sheet. I don't know if the I/E sheet here works out prorata payments automatically for you or not? If not, I can send you one that will.

 

Are all your debts still with the original creditor? If so fine, if in doubt, send a prove it letter to them and make sure it has a correct Deed of Assignment. I'd also be inclined to say you'll only communicate via letter from now on - they won't like this, but it is your right!

 

Once you've done this, repost and we'll take it from there.

[dx100uk]

per i'd not give any detailed info about pers finance

 

very very basic stuff to creditors only

 

 

only a judge can order detailed info.

[victoria_siempre]

Hi Richard

 

I&E is a difficult one because, although they have no 'right to it', they won't agree a DMP or token payments without one.

 

I have supplied I&E based on a National Debtline template to OCs only (i.e. not to DCAs). I refuse to supply any supporting documentation or to fill in their intrusive I&Es.

 

I am careful about how I sign things. A scanned signature that is slightly different or signed in red (difficult to photocopy) and that overlaps printed text. I'm sure you get the drift.

 

This is just practical advice based on recent experience; if an alleged debt is in dispute because, e.g. failure to provide a CCA, then different tactics may be more appropriate.

 

best wishes

 

vic

[Tingy]

I have found IE sheets proving extreme hardship a very useful and powerful negotiating tool. Just this morning a company wrote off a £2500 debt because of my financial circumstances. I would say it depends what is on it as to whether or not it is good to use it.

[victoria_siempre]

Hi Tingy

 

Quite.

 

An I&E proving excess income might not be helpful.

 

vic x

[richardj35]

slightly going off point now but i bank with nationwide and have incurred alot of bank charges with them went through the courts etc but then lost due to the courts outcome,but was on the nationwide banking website and was looking at account charges it is saying that returned dd inncurr a £15 charge,the charges are correct as of the 1st nov 2010,well only last month i was charged £30 for returned dd as was all my original charges.what i am wondering is have they just reduced there charges rates and if so surely this should open up the case again as if they feel £15 is a fair charge now then surely i can have the £15 extra that i paid them for previous charges which had totaled over £3000 over the years with them.does anyone know have they just changed there charges or has it been this amount for some time because if so i want a rebate .