DMP & Mutual Support Thread - Part 8

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  • Tigsmom
    Tigsmom Posts: 290
    Name Dropper First Post First Anniversary Combo Breaker
    Forumite
    For any newbies reading this and doubting the effect a DMP can have on your life, don't hesitate and just go for it!!

    We are part way through the set up process but since checking our credit ratings and finding they're not bad we have been looking at loans etc to see if there is any other way. Having been all around the houses we have come to the conclusion that there isn't. Another loan would clear our cc's but we would still be in the same situation having no spare money to pay for dentists/opticians/school uniform and having to put emergencies on credit again (back to square one). So I'm now getting everything together to send off. Thanks for the encouragement.x
  • Rant coming on

    Bad news from me. BC who took the Egg card over have reapplied interest at 12.9%. This means monthly out of my total DMP payment I am paying £236 just in interest !!!!!!!!!!!!!!!!!!!!!!!

    HHx
  • Rant coming on

    Bad news from me. BC who took the Egg card over have reapplied interest at 12.9%. This means monthly out of my total DMP payment I am paying £236 just in interest !!!!!!!!!!!!!!!!!!!!!!!

    HHx

    Must be ranting day today HH, have been doing a bit of it myself since I got home.

    1) Car needs another £300 of work, just a few weeks after getting MOT :mad:

    2) OH forgot to tell examination board that we had changed bank account and his exam marking fees are going straight into account to be eaten up by OD and it's too late to do anything about it :mad:

    3) Aforementioned old bank account, aka nasty NatWest, are charging same interest each month as when OD was at double the amount but deny that they have increased the interest rate :mad:

    I hate cars and I hate banks :(
    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 Threads
    Mortgage free 3rd July 2014 - Grateful thanks to the 2013/14 MFW threads
    "Debt is normal. Be weird!" Dave Ramsey
    Proud to have dealt with our debt :)
  • Rant coming on

    Bad news from me. BC who took the Egg card over have reapplied interest at 12.9%. This means monthly out of my total DMP payment I am paying £236 just in interest !!!!!!!!!!!!!!!!!!!!!!!

    HHx

    Any idea what changed that made them add the interest? Is it worth writing to them again and asking them to reconsider so as not to contribute further to your financial hardship per the OFT(?) guidance?

    I'm bracing myself for all this to come.:o
  • Must be ranting day today HH, have been doing a bit of it myself since I got home.

    1) Car needs another £300 of work, just a few weeks after getting MOT :mad:

    2) OH forgot to tell examination board that we had changed bank account and his exam marking fees are going straight into account to be eaten up by OD and it's too late to do anything about it :mad:

    3) Aforementioned old bank account, aka nasty NatWest, are charging same interest each month as when OD was at double the amount but deny that they have increased the interest rate :mad:

    I hate cars and I hate banks :(


    Sorry to hear this. Have just put a £1 on the lottery!

    HHx
  • Any idea what changed that made them add the interest? Is it worth writing to them again and asking them to reconsider so as not to contribute further to your financial hardship per the OFT(?) guidance?

    I'm bracing myself for all this to come.:o


    Thanks but I assume same as the others that now have paid nearly half debt off so nearing the min payments that they dont consider me in difficulty. Sorrry to moan, fed up!

    HHx
  • Sorry to hear this. Have just put a £1 on the lottery!

    HHx

    I'm sorry to hear about your woes too. Oh and the lottery is banned in this household because OH is a mathematician, he points out the odds and tells me it is a waste of money!

    But I'll be keeping my fingers crossed for your numbers :j

    TTFTM x
    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 Threads
    Mortgage free 3rd July 2014 - Grateful thanks to the 2013/14 MFW threads
    "Debt is normal. Be weird!" Dave Ramsey
    Proud to have dealt with our debt :)
  • Growurown
    Growurown Posts: 5,498
    Debt-free and Proud!
    Forumite
    This means monthly out of my total DMP payment I am paying £236 just in interest !!!!!!!!!!!!!!!!!!!!!!!

    Ouch!! That sucks. Anything you can do, like go to the FO?
    I hate cars and I hate banks :(

    You have my wholehearted agreement on that one.
    DMP Mutual Support Thread No. 421

    Debt free date 25/11/2015 - Made It!
  • matty2712
    matty2712 Posts: 45 Forumite
    Hi all,

    I have been having a look around the site, as you can see I am "A NEWBIE"

    Yesterday it dawned on me that I cannot carry on paying the ammount of debt I/WE have, so posted on the forum and got some great advice.

    We are thinking really hard whether to go into a DMP with CCCS, all looks fantabadosie, put in our SOA and the CCCS have come back with a monthly payment and says we would be Debt Free within 3 years, this sounds too good to be true. :T

    So i have been advised to come to this forum for help and support, so any help and support you can give please be assured im here listening as I dont know what i am going to do, at my lowest.

    Thanks in advance

    Matty2712:(
    “Whenever you want to achieve something, keep your eyes open, concentrate and make sure you know exactly what it is you want. No one can hit their target with their eyes closed.”
    LBM-01/07/2012
    DFD 02/07/2015
    :):):):)
  • 2spicy
    2spicy Posts: 338
    First Anniversary Combo Breaker Debt-free and Proud!
    Forumite
    Firstly, Welcome.

    Secondly, were a friendly bunch here.. some are here for a short time, others for a lot longer.
    Any questions, just ask, no matter how silly you think they are.

    Spicy
    LBM - Oct - 08 DMP Started - Feb -09
    Total Debt - £77,688 .00
    DMP Support Member - 259

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