Red88's UE Diary

[Red88]

Re: Red88's UE Diary

Original Poster (ie you).....

I suspected that would be the case, although old-age pensioner also works.

[Red88]

Re: Red88's UE Diary

When they issued a default notice is should say "for free debt advice....." Likewise with annual account statements

It's not overly important at this stage.....

I'm with you now, thanks.

[Red88]

Re: Red88's UE Diary

lol OP = our poster that would be you Red

The DMP company can't run a DMP for you without providing you with all the information you require. so it should be in their portal or what ever you call it. They should never have sold you a product (because that's what it is) that a you couldn't afford
b you had no online access to

these are two major booboos

as PlanB says, we'll sort that one later, all of the necessary information should be on their website if we can't get balances, payments, statements etc from there, we'll have to SAR them (subject access request) which costs £10 and they have to supply copies of all of their dealings with you.

Okay, I understand now. Thanks for clearing that up. I will stay on top of getting access to that portal to see if it contains the information we need.

[Never-In-Doubt]

Re: Red88's UE Diary

OP = ?

Original Poster (ie you).....

[Never-In-Doubt]

Re: Red88's UE Diary

I'm not sure I understand what is meant by this, sorry we are very much novices in the financial world.

When they issued a default notice is should say "for free debt advice....." Likewise with annual account statements

It's not overly important at this stage.....

[MrsD]

Re: Red88's UE Diary

lol OP = our poster that would be you Red

The DMP company can't run a DMP for you without providing you with all the information you require. so it should be in their portal or what ever you call it. They should never have sold you a product (because that's what it is) that a you couldn't afford
b you had no online access to

these are two major booboos

as PlanB says, we'll sort that one later, all of the necessary information should be on their website if we can't get balances, payments, statements etc from there, we'll have to SAR them (subject access request) which costs £10 and they have to supply copies of all of their dealings with you.

[Red88]

Re: Red88's UE Diary

it's difficult to keep track over such a long period and so many changes of owner. So a provit letter will be the first shot across the bows should any of them have the cheek to contact the OP

OP = Old-age Pensioner?

You really think that some may not even bother contacting me? This would be just wonderful.

[Red88]

Re: Red88's UE Diary

I do hope they haven't done that

If they've been charging the OP 17.5% of his £1k monthly payments then that's a whopping £12,600 over the years at least. Plus a further £2k to set the plan up in the first place.

Plan B x

I was only making payments that high for around 6 months, I just couldn't sustain such a high payment. This was renegotiated down to the £350 previously mentioned.

Of the £350 paid they take exactly £61.25 (17.5%), I am assuming they were taking the same percentage of the higher payments although I am not 100% sure.

[Red88]

Re: Red88's UE Diary

Not for profit Organisations must also show throughout debt communication ie accompanying the s.87 notice etc and future s.86 statements.....

Well spotted.

I'm not sure I understand what is meant by this, sorry we are very much novices in the financial world.

[Red88]

Re: Red88's UE Diary

Once everything is under control you may want to consider getting back some of the obscene fees they've been charging you especially if they didn't re-negotiate payments or undertake any significant activity on your behalf apart from taking your money, helping themselves to a chunk of it, then handing over the rest to your creditors.

DMP providers are regulated by the FCA and they have rules to follow. One of them is to refer you to a not-for-profit organization if appropriate. I think that's exactly what they should have done years ago. You may have a justifiable complaint to the FOS in due course.

https://www.citizensadvice.org.uk/de...s-must-follow/

Plan B x

Hey Plan B, I'm going to have a read over the link that you provided for me. They were taking £1020 for around 6 months before they renegotiated my payments down to £350 at my request, they also got my creditors to freeze the interest on all my accounts apart from Wescot, so I can't in good faith say they didn't do anything to help me.

However I do not remember them referring me to any not-for-profit organisation. I will read over the link that you have provided me.

Thanks

[Red88]

Re: Red88's UE Diary

4 MBNA accounts? Really?

Egg went to Barclays so unsure where MBNA comes into things or even where Egg comes into things.

-> http://www.telegraph.co.uk/finance/n...rd-assets.html

Yes

Is this a good thing or a bad thing?

As much as I wish I was I am not 100% sure who the original creditors were for those accounts but from what I can remember they were either MBNA / EGG accounts, it was a relatively long time ago so my memory is a little vague.

Thanks for helping Never-In-Doubt.

[Red88]

Re: Red88's UE Diary

the DMP providers should have records of what has happened with all of these debts

I would possibly SAR them to get it all

I would stop the direct debit or whatever they take the money with

Then I think I would wait for a couple of months, paying nothing and see what happens

then we can deal with everything from there on

If you've managed to log in to their portal, there must be a statement of account there, there must be a note of what they are paying to who, and there must be a notes on what they have agreed with you over the last six years. They are a disgrace and should be ashamed but they won't be cos the only thing they will be interested in is the money.

I wouldn't worry too much about losing your house, we won't let that happen and we can deal with this all, I have great doubts if anyone will ever think about court, I will be interested to see if anyone of them even write to you after you cancel the DMP. if they do, we'll send a prove it letter then a CCA request. Most of these are going to be so old that I doubt if the creditors will even have any paperwork.

Chin up just don't pay the shysters anymore money.

Hi MrsD, could you please clarify what it is to SAR them?

Upon your advice I have cancelled the standing order for MoneyPlus (Next payment due 13/12/15), I can assure you they will not be receiving a penny more!

I spoke to them earlier today regarding the login details for the portal, I was told someone would be in touch with the details but no luck so far, I will call them again tomorrow and follow this up.

I have been feeling very depressed lately but having the support of this forum has made the world of difference to me, it is very reassuring to know that I am being helped by people that are well experienced in these kind of problems.

Your plan sounds like a good way forward, I will do just that. No further payments will be made (standing order cancelled) and I will start collecting all correspondence that I receive from any creditor's / DCA's.

A huge thank you from me and my son.

[Red88]

Re: Red88's UE Diary

good morning Red, welcome to AAD, May your journey with us be a good one, we are all here to help xxx

Thanks for the welcome.

[Red88]

Re: Red88's UE Diary

Its always best not to ring or speak to creditors ever, everything in writing always good luck xx

Thanks, I will make sure we only make contact with creditors / DCA's in writing.

[MrsD]

Re: Red88's UE Diary

4 MBNA accounts? Really?

Egg went to Barclays so unsure where MBNA comes into things or even where Egg comes into things.

-> http://www.telegraph.co.uk/finance/n...rd-assets.html

it's difficult to keep track over such a long period and so many changes of owner. So a provit letter will be the first shot across the bows should any of them have the cheek to contact the OP