creating own debt management plan

[calshan]

Hi, following a dmp with a free company since 2006, i bit the bullet and made an attempt at applying for an iva. it was not finalised as it was apparent that my partners debts were too much and she was not wanting to enter an IVA so they stated i was funding her repayments by paying all the rent on my address when she should have been contributing too! (She is on a low wage and her income goes into the house too and her debts).

 

I have looked at the situation and feel a dmp is the way to go again, personal debts of £16k (originally £30k, £18k paid off since 2006 and £6k added in that time in interest and charges).

 

I am not confident in the company i use over a few administration errors which have led to the increase in interest and charges as they did not send i/e in each 6mths as required, only every 12 mths which led to an increase in interest and charges for 6mths per year each year).

 

Is there a letter template i can use to send to the creditors stating i am arranging this on my own now and requesting reduced payments etc. I have no assets or anything, and after 6 years, i feel i am still years off getting the debt repayed. I have not used credit for 6yrs but things are tight and with a family to feed and rising fuel costs etc, i am struggling. I am not that computer literate and cannot find the template on sequincis template

 

I will be looking into charges / interest reclamation only if it does not jeapodise the proposed dmp

 

thanks

[citizenB]

Have a read of Sequenci's debt blogs which are linked in my signature. That should give you an idea of what to do.

 

There are draft letters for all situations in the CAG library, which is linked at the top of the screen. Have you prepared a budget shee so you know what disposable income you have ?

 

I have popped one below for you anyway

 

[ATTACH]30309[/ATTACH]

[calshan]

thanks for the reply, I have I/E from a recent IVA proposal, it is current so i can use this!

[citizenB]

 

Just yell if you cant find what you are looking for

[Amy100]

It would perhaps be best if you could go for a short while with one of the free providers - Payplan, CCCS etc... as they will complete a CFS for you which will carry much more weight than an IE sheet filled in by you. Once up and running for a few months, then you can opt out and take it over yourself. This is often a better way to get one started, though it is perfectly easy to do a self managed DMP.

[Wintry]

Hi

 

Along with what other posters have put maybe have a look at CASHFLOW ASSISTED DEBT MANAGEMENT -

 

http://www.cashflow.uk.net/

[calshan]

hi, thanks for all the adviceve been with payplan for 6 years so may start up the repayments again, if i can afford it for next month and then take it from there on my own! Or, go to CCCS, just want to feel in control and ensure no mistakes or requests are forgotton from the creditors!

[Amy100]

If you can get the CFS from Payplan it would be helpful, otherwise do your own. I'm sure there'll be one in the library here, though I'm new to this particular site. There is no reason why once they see your IE sheet they should not accept your offers of repayment. Make sure the conditions of the offer are clear in that you want all interest and charges frozen.

[dx100uk]

urm.........

 

you mentioned charges several times

 

what i would not do is send aNYONE you per financial details

none of their business!!

only a judge can see those details.

 

i would seriously recommend CCA'ing EVERYONE you are paying or looking to pay

 

you need to get you ducks in line here and CHECK they have the legal right to take money from you.

 

i would guess many have no legal right at ALL.

 

dx

[calshan]

not sure what you mean DX100.

 

I am trying to repay debts i owe without incurring more charges / interest, however, cannot afford the normal monthly repayments and wish to be debt free, so plan on offering what i can afford. They continue to charge for late repayments even though i am with payplan, (usually where there is a bank holiday in the month) and i am still charged increased interest each month. I have made repayments each month for 6 years and am not wanting to challenge the validity of the debt, simply reduce it / pay it off asap with what i can afford. If i claim for charges / ppi, i am worried this would affect any dmp i have in place should they have already agreed to concessions such as reduced / no interest for a set period.

 

Sorry for being a bit thick here, i just need to understand what you mean!!!

[locutus]

Under the consumer credit act, you can request a copy of the original signed contract. You need to pay £1 for this. If they cannot provide this, they cannot enforce the debt.

 

Letter N here

 

Also, you have mentioned "Charges". Lots of charges are unlawful.

[citizenB]

Calshan, reclaiming mis sold PPI and charges should in no way affect your situation, but should help reduce the amounts outstanding considerably.

[dx100uk]

you really really need to stop paying these leeches more money than you should or at ALL.

 

please ilst your debts here

then compare that list against your CRA file.

 

those that DO NOT SHOW, stop paying.

 

those that show you need to CCA them ALL.

 

dx

[calshan]

i have been down the credit agreement route previously and not had much success, gave up waiting for the agreements to come through depite the reminder letters (only Barclaycard sent one, which was dated 12 years after i opened the account).

The issue i have is i have been on dmp previously, owing to hardship i have had to make token payments recently, dont have much ppi to claim, only charges, which would reduce the amount but only by a grand or two. I'm not suitable for IVA, and i know people say don't pay them until they prove the debt, however, i am bound by job to discharge all lawfull debts and simply want to get debt free.

It would seem that dmp is the best way forward then claim charges etc, unless can advise different. bankruptcy is not an option

[locutus]

May I ask how come it's a lawful debt if they havn't fullfilled their obligations of the CCA?

[dx100uk]

this is why i'm saying you need to read up a bit.

 

it is a very important fact you have perhaps glossed over here

and p'haps listened a or read a wee bit too much into what these DCA's/OC's say to you.

 

most of which is bluff and bluster.

 

dx

[Amy100]

CCA them all again - give them the 14 days + a few more for good measure, then post up and we can supply you with a further letter to send them telling them they haven't complied with the request and thus the account is being placed into dispute.

 

dx100 is absolutely right in saying that you seem to have been taken in too much by the DCA's - they are toothless in reality unless their assignment is in Absolute.

[The Ghost]

Absolutely right, and for a self managed DMP that cash flow link provided is superb. The fact you got fed up waiting for CCA's to come back may mean they cannot actually enforce a single one of these debts as they don't have an agreement.

 

It is well worth following the advice above and starting afresh, posting everything up step by step on here, as much for your benefit of keeping a record of what happened when as for advice, then see what happens this time round.

[Belicoso]

Hi, sorry to jump in on someone elses thread, but citizenB I tried clicking on the link to sequenci's blogs, however I wouldn't work. Can you help?

Many thanks

B

[dx100uk]

try my sigs

its changed

 

dx

[citizenB]

Oops.. sorry, I havent changed the links yet..