That's why I love this forum - you suddenly realise you aren't on your own. Funnily enough I thought being ethical would mean they tried to help their customers too![:)]
about opening a new bank account - how easy is this when you are a financial leper! just looked at alliance and leicester and they want to know about credit cards, any suggestions
Are you trying to open a full current account or a basic account? If your credit rating is already shot you would be better going for a basic account with a bank who is not one of your creditors.
You could try Yorkshire Bank - they're supposed to be amenable to IVA'S
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Changing DMP? David many thanks for your contact with Kensington for me but can I change DMP without too much hassle. I am confused, worried and depressed and don't want to go through the stress of starting everything off again. I know that I seem pathetic and want someone to take the responsibilbity off me ( but I did think that I was paying the fees for this)
I am concerned that if I change now, after 3 or 4 mths then all the creditors and phone calls will start again.
After your intervention, David, I had several phone calls about my problem with Nat West ( I also got three letters of two sentences each posted by the the same person on the same day) but really haven't got anywhere, I am not very confident about what was said either. It seems as if Charging order and /or Court action is just going through and the two weeks is now up and I feel as if I just have to accept my fate.
I was told by my FM,he was looking into the Tomlin order which was rare and no one knew much about but Incasso wouldn't accept it any way and would probably want a Charging order. This process was then explained more to me. I felt despondent that it was all going through over my head when I had sought to get in control, address debt problems and go into DMP to avoid Court action. Obviously not to be ! The FM said that Nat West had lumped the two payments sent for the loan and the overdraft together and treated the payment as one,just going into the overdraft therefore nothing was going into the loan which Nat West had handed over to Incasso (I am sure that I had no paperwork or knowledge of this and any paperwork received would have been sent to DMP)I queried again how it had happened and the FM then told me that 'as we spoke ' his manager was talking with his contacts at Nat West to find out what had happenned.I was then worried that he had not said this at the beginning of the converastion and I lost confidence in what he was saying. This was last week and I felt from the conversation that it was all just going through and nothing more to be done. I have heard nothing more but am now getting a little angry rather than just despondnet. I have statements showing two payments going into two different account numbers and obviuosly assummed that it was being agreed/paid. I was told at one point that DMP make payments on my behalf and the creditor accepts the money but this doesn't consitute an aggreement. Well I know that happens in the first month, with the token payment, before all agree but after a few months all the companies have come up with agreements I have been informed of these. I would assume then that Kensington get more paperwork and should someone not have noticed that they did not have aggreement from Nat West. Should someone not have noticed that two payments were going into the same place. The only paperwork that I have ,-- the statement-- shows two accounts - two differing payments so I couldnt spot it. Help? Should I change companies and what would be the repercussions?
hi - i was in a DMP for 9 months with Hamilton Locke before i changed to an IVA - my debt was quite high and they helped me immensley. i did exactly as they advised and am now 6 months into an IVA and nearly all my stress has disappeared! it is worth doing.............
We used them as well Flaps1, and we were with them for 18 months and had no problems at all.
We also found them very helpful.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
It's strange isn't it that one or two people recently, myself included, were on DMP's before IVA's.
In our case, we had first called Money,Debt,Credit and were told by them that our only option was bankruptcy - despite having £600+ a month disposable income! Then we approached another firm, can't remember the name though, and had a home visit and the man said he was more or less certain that we would get an IVA.
On a follow up phone call, the woman said she had to 'hide' £200 of our outgoings otherwise we wouldn't get an IVA, and then said it was impossible to do, and put us on to Hamilton Locke, who were good.
It was only through trying the change to DMP to Payplan so more of our money went to the creditors each month that an IVA was suggested, and we had no problem with it, and our monthly payment is actually less than we were paying in the DMP!
I had not found this forum then, if I had, I would certainly have shopped around a bit more.
The moral is not to accept what you are first told - if we had tried other companies, we could have been halfway through now!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
In the current climate Jan, it is very possible that there may be many more instances whereby DMP's are recommended and used as a "holding measure" so to speak until employment factors are more stable.
I have certainly seen and had a massive upsurge in enquiries recently from people on the wrong end of redundancy notices, short time working etc.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
What appalling advice you received Jan, before finding the IP firm who are now representing you. For the reasons Size5 mentions, a short holding DMP may well be the best solution, but not as a matter of course which seems to be the case in a number of firms.
Our DMP was never intended as a temporary measure Size5 - it was meant to be in place until we had repaid everything - which could possibly have seen one or both of us pushing up the daisies!
Fortunately, we were both strong enough not to take what MDC said as read, although a lot of other people might have done so, and also to take further advice instead of remaining on our DMP.
I mentioned this thread to hubby, and he reminded me that it wasn't £200 a month they had to 'hide' - it was £600! Lord knows why!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
