DMP Mutual Support Thread (Part 6)

JillyOJolly · 26 June 2009 at 10:33PM

Hi Y'all and welcome to the newbies.....

Was thinking about the signature thing and cheques from other people and I am not so sure this is a great idea. You may end up with calls asking you to ask your mother to pay again and pay more on your behalf?? They have asked me in the past to lend money from family members to pay off debts.

Also, Ladyday, I have had the same on and off over the years with payplan, in 4 years no more than 5 or 6 times I might add. not quite sure why, but the next month they get a bigger load so they still seem to get it. It did create a couple of calls from creditors, but it has always worked out ok. I used to give them my payplan ID number and the name of my advisor.

Heres to a hot, lovely, stress free weekend ....

Jakey410 · 26 June 2009 at 10:58PM

Thanks Leese2504 and DevonGirl! Think I will just send off the letters and see what happens! Our bank have already said they will accept a reduced payment for the loan and overdraft, if we sign an agreement accepting interest charged at 1 or 2%, which we're happy to do as have to take some responsibility for the state we are in!!!

Just transferring DDs to my new bank then will set this up.

Also, mortgage company have agreed to reduce our mortgage payments for 12 months if we can reduce our payments to creditors by a certain amount. And the mortgage won't show any arrears. So now I'm doing the DMP we qualify for this 'hardship' scheme. Just have to send in copy of DMP letters to my creditors.

So just got to sort out the other creditors (all in my name) - all credit cards. Will keep you posted!

Once I start my DMP will I be logged out of all their online facilities? Will they still send me monthly statements as am worried that I won't be able to keep track of everything!

I am starting to feel a bit worried about all the letters and phone calls as for the last 10 or so years have managed to not default on anything. But had my beautiful baby boy 7 months ago, had to return to work fulltime due to financial situation so paying fulltime childcare fees - which basically tipped us over the edge! I just keep thinking of my boy and the joy he brings which helps! :heart2:

Anyway, seem to be rambling! It just feels so good to be able to share it with you guys!

bigmommamuppet · 27 June 2009 at 8:50AM

ladyday wrote: »

I've just checked my DMP online with CCCS and realised that one of my payments to a creditor shows £0 paid out on 25th June instead of the correct amount of £64 My statement is also short of this amount in the total paid out to creditors this month although I paid the full amount due to CCCS on the 1st of June.

QUOTE]

Morning

This happened to me too, one payment showed as £0 and the total amount was less the agreed sum. When my paper statement came through it had re-appeared. When I phoned them they said that the online statements are produced on the 26th of the previous month and sometimes not all the payments appear properly but by the time they come round to actually paying them the payment will have been sorted and hence why the paper statement was correct.

This is the main reason now why I haven't gone paper free with them as I want to make sure that the payments are definately going out on time.

Becks

scouselad1974 · 27 June 2009 at 12:02PM

Hi Everyone

I'm just after a bit of advice regarding my DMP, the majority of my creditors seem to be accepting the offers put forward by CCCS, apart from Vanquis Card, I thought that this company would be the problem creditor as their customer service leaves a lot to be desired. Anyway I received a letter from them today saying that they are unable to accept my offer of £0.00 even though they have been offered £5.00 :rolleyes: the minimum they are willing to accept is £33.00 for a period of 3 months. If I do not contact them within 14 days from the date of this letter 24 June 2009 they will assume that I no longer require a payment arrangement and are able to make the required minimum monthly repayments.

Do I ignore this letter, send it to CCCS, or contact the creditor myself. If I have to forward it to CCCS do I just pop it in an envelope with a cover note, including my CCCS number etc ? so that they know who it is from.

Thanks in advance

symesd · 27 June 2009 at 2:13PM

Hie everyone, can I run an idea by you, set the scene first - living in a house which is now probably in negative equity through no ault of our own, we had been thinking of releasing equity to complete the refurbishments to sell & clear all our debts

but this is not going to happen now, which is extremely annoying & very depressing - expecially with 3 young children who want to bring their friends round & I am too ashamed of the house to let them unless really pushed.

I have been contemplating this idea for a little while - I know it is not a good idea but I feel desperate and well you will see...

I have found a perfect 3 bed new build house in the area we want to live in, close to our daughters school, new house so everything brand new & lovely, up for rent for £650 a month.

Our current house is costing us £468 mortgage & £393 secured loan = £860

If we moved into the rented house we would be saving £210 a month which we could throw at our debts & get them cleared in half the time (debts paid by 2012/13 instead of 2018).

Here's were it goes a bit EEEK!, I am thinking I could get into the new house and just stop paying mortgage & secured loan & let it get re-posessed on purpose, I know it will probably sell for just enough to cover the mortgage & loans so the mortgage company & secured loan company would get all there money back eventually.

And I know it will probably mess up our ability to get a mortgage in the future, but to be honest I don't think I want one, I am so scared of being in debt every again I don't thinks I would apply for any more credit (including a mortgage) ever again.

Is this a really stupid idea, is it legal, is it possible, could it be done, should I or should I not. I am in a mess I cannot carry on living like this in a dump I hate which is just never going to be anygood and will continute to deteriorate because we will not have anywhere near enough money to make repairs until after 2018 (the house will not be livable in by this time I am sure)

Please anyone else felt this desperate.

D.

ianmak · 27 June 2009 at 2:45PM

symesd
I'd imagine that if the property was repossessed, it will be sold as one. Is the secured loan with the same company as the mortgage? As I presume the bank will sell in order to get their money back. I would imagine it would muck up your credit rating for a few years too. Why can't you sell?

Scouse
I'd get in touch with the creditor if you haven't already done so to see if you can't sort something out. If not, then let them know that you're with CCCS (I presume they already do) and get them to continue payments as usual. As (altogether now) they can't have what you haven't got!

scouselad1974 · 27 June 2009 at 7:20PM

Hi

Yep they sure know about my DMP with CCCS and my situation, they have already had a couple of token payments and CCCS have been in touch to tell them what their share of my DMP will be and they have refused it.
As you say they can't have what you aint got, just an excuse to add more charges or pass the debt on.

JillyOJolly · 27 June 2009 at 10:53PM

MBNA refused every offer made to them for the first two years, but Payplan still sent them their share of the money each month. You may have some hope that they will get peeved and sell on your debt then the negotiations with a new company would be a lot easier.

cocker100 · 27 June 2009 at 11:54PM

symesd wrote: »

Hie everyone, can I run an idea by you, set the scene first - living in a house which is now probably in negative equity through no ault of our own, we had been thinking of releasing equity to complete the refurbishments to sell & clear all our debts
but this is not going to happen now, which is extremely annoying & very depressing - expecially with 3 young children who want to bring their friends round & I am too ashamed of the house to let them unless really pushed.

I have been contemplating this idea for a little while - I know it is not a good idea but I feel desperate and well you will see...

I have found a perfect 3 bed new build house in the area we want to live in, close to our daughters school, new house so everything brand new & lovely, up for rent for £650 a month.

Our current house is costing us £468 mortgage & £393 secured loan = £860

If we moved into the rented house we would be saving £210 a month which we could throw at our debts & get them cleared in half the time (debts paid by 2012/13 instead of 2018).

Here's were it goes a bit EEEK!, I am thinking I could get into the new house and just stop paying mortgage & secured loan & let it get re-posessed on purpose, I know it will probably sell for just enough to cover the mortgage & loans so the mortgage company & secured loan company would get all there money back eventually.

And I know it will probably mess up our ability to get a mortgage in the future, but to be honest I don't think I want one, I am so scared of being in debt every again I don't thinks I would apply for any more credit (including a mortgage) ever again.

Is this a really stupid idea, is it legal, is it possible, could it be done, should I or should I not. I am in a mess I cannot carry on living like this in a dump I hate which is just never going to be anygood and will continute to deteriorate because we will not have anywhere near enough money to make repairs until after 2018 (the house will not be livable in by this time I am sure)

Please anyone else felt this desperate.

D.

Hiya,

I must admit, this thought has also crossed my mind too!

Our house is a tiny 2 bedroomed starter house built in 1991, so to a modern design with tiny rooms. We have two young children and are considering a third, but we are never going to be able to move from here for the forseeable future due to DMP and negative equity through secured loan!:mad: The thought of having to bring our children up here when we are struggling to find any spare space for all our stuff drives both me and my other half round the bend. Our youngest still sleeps in our bedroom because the other room is only a single and cant fit a bunkbed in! (Unless we get one specially made:rolleyes:) He is now 3 and a half and sleeps in his bed at the bottom of ours!!! Hence the reason why I now spend most of my nights online and not up there!!!:rotfl:

We pay £206 mortgage and £575 secured loan on this and for the same money we could rent a 4 bedroomed detached house in the posh end of town!

The thing is though, a recently reposessed house on our estate only sold for about 60% of the market value, so this would no way clear what we owe on it, and we cant sell because of the negitive equity, so we are stuck!

The mortgage provider can still chase you for the balance if you dont pay all of the loan back even if it is reposessed. The only way you can get rid of it altogether is to go bankrupt and get everything written off and start over again!

Oh the choices we face!:rolleyes:

Cocker:)

ladyday · 28 June 2009 at 12:21AM

bigmommamuppet wrote: »

ladyday wrote: »

I've just checked my DMP online with CCCS and realised that one of my payments to a creditor shows £0 paid out on 25th June instead of the correct amount of £64 My statement is also short of this amount in the total paid out to creditors this month although I paid the full amount due to CCCS on the 1st of June.

Morning

This happened to me too, one payment showed as £0 and the total amount was less the agreed sum. When my paper statement came through it had re-appeared. When I phoned them they said that the online statements are produced on the 26th of the previous month and sometimes not all the payments appear properly but by the time they come round to actually paying them the payment will have been sorted and hence why the paper statement was correct.

This is the main reason now why I haven't gone paper free with them as I want to make sure that the payments are definately going out on time.

Becks

Thanks Jilly and Becks - my paper statement came through the post today and it still shows £0 for this creditor, hopefully it's fine and the payment has been made but I'll see what CCCS say on Monday.

DMP Mutual Support Thread (Part 6)

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