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DMP.... Creditors suddenly rejecting offers?


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Hello.

I hope this is posted in the right place.

I'm on a DMP with Payplan ( have been since Nov 2010), apart from one creditor ( who has CCJ'd me in the last 3 weeks) all had accepted my offers.

I increased my payment this month, but now 2 of my other creditors have rejected the offers. So the 3 largest creditors are now rejecting, despite an increase.

One was transferred to a DCA this month, who accepted it for a few days and have now rejected it.

I really don't understand why this is happening, or what to do?

Is it possible that the CCJ has pushed the other creditors into considering similar action? If so, would I be better to look at an IVA?

 

So sorry for so many daft questions......my stress levels are through the roof!

Any thoughts appreciated

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OK - the first thing to do is calm down. I know this is easier said than done, but you are among people all of whom are going through or have been through what you are now, so we all understand how you feel and we'd all say don't get stressed about it.

 

We need a lot more information before we can offer sensible advice. How much do you owe? To whom do you owe it? What disposable incoome have you got to go towards a DMP? What were you paying? What were you going to be paying if they'd accepted your new offer? The more you can tell us about your situation, the more we can help.

 

Remember it doesn't matter how small or big your debts are - I can promise you there'll be loads of people here in a worse situation, so please try not to worry. I've been through being physically sick waiting for the post each morning and not daring to open mail, answer the telephone etc... but I've learnt to cope with it. Once you start getting support from on here your stress levels will reduce massively and you'll begin to feel in control again.

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Hi, thank you for your reply. I do try to keep a grip, and then something happens that just seems to tip me over the brink again ... deep breaths :roll:

 

My total debt is in the region of £22000 ( eeek) ... unsecured.

The creditors who rejected me :

Loan Company ( I owe £6000... was £5000 til they took me to court and CCJ'd) I was paying £132 pm, now upped to £139

Credit Card Company £6400, I was paying £177, now upped to £189

DCA I owe £3500 , paying £110.

 

My total DMP payment is £660. My pay is £2100 pm, my outgoings are £1440. I'm in rented accommodation. Full time employment.

 

Other creditors are smaller amounts, ranging from catalogue company to payday loans ( Which were the cause of my financial downfall.... that, and a marriage breakdown!)

The loan company never accepted my offers and CCJ'd me 3 weeks ago ( they claim to have never received my papers, but thats another story)

The Credit card company accepted it until this month

The DCA accepted it for a couple of days and then rejected it.

( sorry... repeating myself)

 

I sometimes wonder if I'm actually paying too much? In fact, had I not got into the payday loan vicious circle, well, things might be totally different. Daft mare that I am!

 

I've been with Payplan since November 2010

 

Thanks again!

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I'm going to repeat what I've just said to someone else here. Have you considered or would you consider managing your own DMP? There are many advantages to this and I can drum up some support from some knowledgeable people who are doing this. I wouldn't kick yourself for the payday loan thing. My downfall was burying my head in the sand and pretending the debts weren't there - at least you were trying to do something about yours!

 

If you manage your own DMP you gain control of your situation fairly quickly and that makes a big difference. These companies who are refusing your offers you can resend your IE, tell them what you can offer which will have been worked out pro rata from your IE form, have a think about whether you might be paying too much if you think that may be an issue. If you say to them you can either have this which has been calculated fairly as you can see, or I'll start giving you a £1 per month token payment as I'm not prepared to treat one creditor differently to another you may find they soon change their minds. There's plenty on here who have done just that!

  • Haha 1
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Doing my own DMP is not something I wouldn't consider, if that makes sense?!

I do feel very out of control, I've actually had absolutely NO communication from at least 3/4's of my creditors since the DMP, and only really get any updates from the justabank website ( which I check obsessively!) and the whole reason I went with a company is because I just wanted to busy my head in the sand and let someone else sort it out.

 

I just worry that I'm so flaky at the moment, especially since the CCJ and the threat of enforcement, that I don't quite know if I can face the re-emergence of threatening letters and hassling phonecalls.

 

I'm awaiting the outcome of the n245 I've sent regarding the CCJ. Is it likely that a creditor would take me less seriously than Payplan?

 

Lots to think about, and the knowledge that there are others about who know where I'm coming from, is very reassuring..... thank you!

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I've helped someone called baz1986 recently. He was in a similar situation and state as you just a couple of months ago. He is now absolutely transformed and it has been brilliant to see this and to know I played a small part in trying to help him. I'll try to find his thread so you can read it!

 

Here you go - it might help you with your decision. He'd be here to help as well as he's brilliant!

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?300255-Starting-up-my-own-DMP-from-scratch...

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sionnach67 Hi their i started a DMP at about the same time as you did in November, A few things that i found when i did with the cccs, They were great at reassuring me to calm down and take one step at a time, They did all the intial letters and communication, But what i found myself doing was the leg work myself chasing the creditors up to ensure they stopped or lowered the intrest, Agreeing payment dates and agreeing amounts failry using the free budget planner. But after 3 or 4 months i took my own debt in my own hands and manage it myself and every creditor has helped me, they didnt straight away but i nagged them, i sent them letters and had very good people help me with it from this site.

 

Dont be too hasty in dismissing the idea of running your own DMP, look into it and ask as many questions as you like, Remember that the CCCS was great for me when i first needed them but after that i found it easy to do it myself!!

 

Quick question you said your loan company took you to court, Why was that? and how long did it take them to take you to court, The reason i ask because i got an issue with my loan company and only pay them a £1 a month atm, If you dont want to answer no worries

 

All the best

 

Baz!

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Thanks Tingy :-)and hello Baz .

I'm definitely going to consider doing my own DMP, as you say, the official route is useful to start with, but I'm finding more and more that I am doing my own legwork .

 

The loan company, who never accepted my offer, instructed a solicitor at the end of April . Despite various attempts from myself to get them to reconsider my offer, their solictors took me to court in early May. I did complete the claim form, it was dealt with by the legal documents team at payplan, but the CCJ was issued , in default, on 20th May, as the solicitor claimed to have not received my response. I was ordered to pay the full amount, plus another £1000 of costs ( taking it back to £6000... I had got it down to £5000). Obviously I can't, and have submitted an N245. Awaiting the outcome of this now. Solicitor has told me that if I haven't paid the full amount by the 6th June they will go for enforcement.

 

The most annoying thing is that until the DMP, I had never missed a payment (£270pm)to the loan company, and have been paying £134 pm since November. Ho hum! I hope your loan company are a little more human than mine:roll:

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Well my loan is with the halifax, So no they havent been humans until i teamed up with Tingy and kicked up a stink and they refunded all my charged over 1k, But i am awaiting my next move bit like chess really, I want to pay them off but then i dont want to bust a gut if they are going to take me to court etc etc,

 

But yeah have a think about doing your own DMP, it isnt that hard once you get over the fact that it is what it is, Get yourself a folder, Get yourself a printer and then have your days where u get down to business get lettes sent off etc but also learn to switch off from it, thinking about it every day like i did got me nowhere and i become unpleasent to be around, But now i only look at my mail once a week, and spend a few hours once a week just filing and doing any letters i need to send out

 

Like Tingy said anything you need Post on here or if you prefer Inbox us

 

Baz

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Thanks again to you both, you've definitely given me food for thought, and I will seriously look at taking a bit of control back and doing it myself ( though as I mentioned before I am dreadfully flaky and prone to bursting into tears at the drop of a hat at the minute! I'm SO cross with myself!)

Oddly enough , the creditor who has just rejected my payment after accepting it for 7 months, and despite my increasing it, is Halifax ( credit card though, not loan)

 

 

Tell you something though, if I ever get out of debt, I'm NEVER going back there again!

:| S

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Nothing wrong with bursting into tears and don't beat yourself up about it. When my mental health is playing up (had a blip last week again) I spend huge amounts of time in tears and do far worse - just a few days ago I slashed all my arms with scissors. Now I look at them and think what a prat! But at the time I was ill. I accept that - it's part and parcel of the illness and I have no control over it at the time. If you're a bit depressed, then so be it, don't kick yourself for it please, just accept that's the way it is at the moment, but I promise you, you will feel better. I never believed that the first time I suffered depression, but it is true, even if you don't believe it at the moment.

 

It is also well documented that debt is a major cause of mental health conditions (mild or severe) - it could well be that it is the debt that is causing it. If that's the case then you need some support, you've come to exactly the right place to get it, and we will do absolutely everything we can to help you. That's what this site is all about. We all take from it, and at the start it is all take, take, take and no give, then some of us choose to give a bit back again. Others have the help and go their own way which is also fine as long as they've resolved their issues.

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HelloI’m really sorry to hear that you’ve experienced such upsetting and stressful times. I fight against acknowledging my own stress levels, because mental health is my profession, ridiculous eh?I’ve just heard from Payplan, that the reason the DCA may have rejected my offer is because the DCA has closed the account, which may mean that the original creditor is happy with the offer and has taken it back. Makes little sense to me, but I’ll wait and see. Self Managed DMP is certainly looking like an optio, at least I'd get this information from the horses mouth, rather than having to chase all the time. I’m so pleased to have found this forum, and would like to think I’ll be able to give as well as take over time

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Methinks I was preaching to someone who knows rather more than me! However, mine is first hand experience which is different to doing it as a profession as I keep telling my consultants! lol

 

Glad you're thinking of a self managed DMP, but take your time and don't rush into anything. Whatever you decide has to be right for you and sustainable. If you have a huge work load and a pressurised job, then you need to factor this into the equation. Some find managing their own debt a stress relief (I do!), others find it a stress trigger in which case CCCS, Payplan or one of the other free DMP companies are best.

 

The debt will still be there in a week or a month and so will you! So take your time to think through things and do what is best for you. Whatever you decide, you'll alaways have loads of help here.

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I doubt I know more than you about the realities of health issues... like you say, the only person who truly understands the intricacies, impact and complexities is the person who experiences it first hand! I'm glad that you're keeping the consultants in their place though :wink:

 

I bit the bullet today and rang the CC company to find out why they'd suddenly rejected my offer. Spoke to a very nice chap ( I always expect them to be complete harridans!) Turns out Payplan had sent them an offer for £100 LESS than the real offer. No wonder they rejected. Will attempt to get it rectified asap. I feel quite brave now :wink:

 

I hope it's been an ok kind of day for everyone else!

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Brilliant day for me! I'm really glad to hear you are resolving the problems and feeling brave. Having a load of support behind you is a bit like having solid foundatioins on your house - you know everything is solid so you have no need to worry. Whatever happens, your foundations are firm.

 

My faith in human nature has been restored (or boosted) today as I happened to mention in one reply about a charity I'm setting up. I've been inundated with offers of help from fellow CAG members which is really, really touching. What a fantastic bunch of people!

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It's really easy to think that the world has become an insular, self absorbed, lonely place, so it's always brilliant when you get that heartwarming boost! People can be incredibly altruistic and magnanimous....... I'm delighted that your day has been a grand one :-)

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  • 2 weeks later...

Hello folks.

I hope everyone is ok and surviving the debt rollercoaster!

I just wondered if anyone might be able to enlighten me.... The creditor who issued me a CCJ, has returned my monthly Payplan payment this month ( I only found out by accident) Would anyone know why this might be or what it might mean? I have heard nothing from the creditor, their solicitor or the court since returning my N245 form 2 weeks ago.

 

I know it's speculation, but thoughts would be appreciated.

 

Thank you! Sx

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Hi... hope you're well.

 

I've not heard anything from the court since I submitted my N245. The court had ordered me to pay the full amount (£6000) in the CCJ on 20th May, which I couldn't do, hence submitting the N245. I did advise the solicitor for the claimant about the N245, and I know the court have recieved it because it was special delivery.

 

I've been paying £138 to Ocean since my DMP started in November ( the debt has increased by £1000 because of costs ) this is the first time thy have rejected it.

 

I suppose I'm surprised that they're rejecting it whilst the re-determination is still ongoing. I shallhave to await the post with baited breath.

 

S x

Edited by sionnach67
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Aye, I guess they could be pushing for the full amount. I was under the impression that they couldn't reject payments though. Anyway... I guess I'll have to wait and see what the postman brings over the next few days. Thanks for your ideas :-)

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