DMP & Mutual Support Thread - Part 8
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So Tigsmom, Lady1982, if you like maybe we could keep up to date with this together. As we are not alone then... we could keep on track together and if any probs report back to see how we getting on.
Good luck lets get DF ASAP
Matty2712
Oh I will be posting and checking here regularly Matty. I don't intend to do this alone, especially with so many kind and helpful people on here who have already been there and got the t-shirt.:)0 -
Hi all,
I just wanted to post a message to give a little bit of hope to anyone out there really struggling with their DMP's....
I started my DMP with CCCS in January and my estimated amount of debt was a whopping £5,811.88 - this mostly consisted of overdue payday loans (I have 10!!!)
With the help of this site and CCCS I have managed to cut my debt down to £4,558.37 in just 6/7 months. This is based on my partner and I only living off of my wage and a basic student loan as he was studying full time. On top of this, we are paying a mortgage AND saving for a wedding next April!!
The reason for being able to cut down my debt much quicker than I thought possible was by using this site and its amazing template letters to complain to the payday loan companies with regards to their extreme and unfair charging structures.
So far, CashGenie have written my loan off as have Quid24. I also have cases with (the very nasty) Minicredit and Capital Finance One - these are being dealt with by the FOS. My calculations suggest that I am owed £800+ which should hopefully write these both off and any surplus can be paid towards my other loans.
Anyways, my rambling is over. I just wanted to share my tiny victory with you all so as to encourage anyone who is wanting to give up, to carry on! And always reclaim, reclaim, reclaim! I was shocked when I sat down and looked at how much payday companies had taken from me. The average amount was about £600+ in interest and late charges for a £100 loan!!
Well done :T
And please keep us updated. I always think success stories give lots of people hope
Oh and good luck with the wedding plans
LBM 10/1/12 ~ DFW Start 6/2/12: £82,344 ~ Now Zero:staradmin:starmod::staradmin Debt free 17th April 2015 :staradmin:starmod::staradmin
Eternal thanks to the DMP & Mutual Support (no.439) and Payment a Day ThreadsMortgage free 3rd July 2014 - Grateful thanks to the 2013/14 MFW threads"Debt is normal. Be weird!" Dave RamseyProud to have dealt with our debt
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It has just dawned on me that I need to cancel the dds for our cc's & loan asap because they come out of our account before our priority payments. I don't have the new account up and running yet though, so when HSBC realise I haven't paid the cc will they just take it from my account? We won't be able to pay the mortgage next month then.0
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It has just dawned on me that I need to cancel the dds for our cc's & loan asap because they come out of our account before our priority payments. I don't have the new account up and running yet though, so when HSBC realise I haven't paid the cc will they just take it from my account? We won't be able to pay the mortgage next month then.
I don't think they will just take it, not straight away. If you miss a cc payment there is usually a period where they give you a chance to pay, there are reminder letters, maybe a phone call. They won't know you are entering into a DMP unless you have already sent them the letters and token payment. If you are really concerned could you draw the cash out for the mortgage? Or pay it into the account of a friend or relative you can trust just until your new account is set up?DMP Mutual Support Thread No. 421
Debt free date 25/11/2015 - Made It!0 -
ive never had natwest take CC pyts from our current account when weve missed them before, i think u should be ok for a while then hopefully u will have ur new account up and runningIt has just dawned on me that I need to cancel the dds for our cc's & loan asap because they come out of our account before our priority payments. I don't have the new account up and running yet though, so when HSBC realise I haven't paid the cc will they just take it from my account? We won't be able to pay the mortgage next month then.0
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I think I will draw the cash out and put it in the new account once I get the number in the post. Was hoping to move everything over smoothly but because we have the credit payments coming out first it can't happen like that. Oh well. Maybe I'll get defaults earlier this way. Every cloud...0
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I think I will draw the cash out and put it in the new account once I get the number in the post. Was hoping to move everything over smoothly but because we have the credit payments coming out first it can't happen like that. Oh well. Maybe I'll get defaults earlier this way. Every cloud...
Like the positive attitude:T
It can be tricky co-ordinating everything at the start of a DMP but you only have to do it once.
I had a letter from Asda yesterday offering me a new credit card:rotfl:DMP Mutual Support Thread No. 421
Debt free date 25/11/2015 - Made It!0 -
Like the positive attitude:T
It can be tricky co-ordinating everything at the start of a DMP but you only have to do it once.
I had a letter from Asda yesterday offering me a new credit card:rotfl:
We got one too!:rotfl:
It shouldn't be too bad because I've just looked and luckily HSBC are one of the last cc's to come out so by the time they realise we should have got the new account running. What is CCCS's take on token payments? It's just that if we make token payments this month we should be able to clear most of our o/d before the DMP but we want to do this the CCCS way.0 -
It has just dawned on me that I need to cancel the dds for our cc's & loan asap because they come out of our account before our priority payments. I don't have the new account up and running yet though, so when HSBC realise I haven't paid the cc will they just take it from my account? We won't be able to pay the mortgage next month then.
Just cancel the DDs for the CC and the Loan - and then, when you send them your token payments, they'll know that you're starting a DMP.
Remember, they can't have what you haven't got, you're not paying them the full amounts any more, so just cancel them at your bank xOur LBM: Dec 2011. DMP started: Jan 2012. Debt at LBM: £41,568
Oct 2012 = Current debt: £40,548.93
Oct 2013 = Current debt: £39.054.70
DMP Support number 424 - Long haul number 3080 -
We got one too!:rotfl:
Snap!What is CCCS's take on token payments? It's just that if we make token payments this month we should be able to clear most of our o/d before the DMP but we want to do this the CCCS way.
Whilst I am very grateful for all the help CCCS have given us I don't tell them everything. I don't plough every spare penny into paying off my debts because life is difficult enough without going without everything. Overtime last year paid for Christmas not debts. I know this isn't how it should be done but I figured out how much interest I paid on CC's (when for years I could only afford minimum payments) and I don't have one iota of guilt about it.
It is your money and if you want to clear most of the overdraft with it then I would do it and just don't mention it to CCCS. Token payments are the norm anyway and some people do token payments for several months to get themselves straight before starting on a DMP. Plus until you start your DMP officially then you have the freedom to pay what you want to who you want.DMP Mutual Support Thread No. 421
Debt free date 25/11/2015 - Made It!0
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