VETERAN DMPers! Tell us newbies your Story

Sagaris

Good thread!
My OH is on a DMP with CCCS and has been for 3 years - his debts escalated for various reasons before he met me, I eventually wheedled it out of him - he thought I'd throw him out! So it's been relatively plain sailing since - CCCS are so helpful, and luckily all his creditors (Barclays and Barclaycard, although passed to a DCA now) stopped hassling him once we could quote his case number at them.
We've even managed to bring his debt free date nearer by 3 years after some careful budgeting - although they can't believe how little we spend on food (thanks to this site!)
It's hard and scary at first, but keep at it - it does get easier and almost like a race to get it paid quicker.

HHH_2

TB I think I noticed in one of your earlier posts about you bank taking out money to cover debts with them, if this is the case you must get a bank account which has no connection to any of your creditors. sorry if I've got that wrong. I wish I d seen a thread like this when I first started out, as someone else has said I felt so ashamed I honestly thought I was the only person to get myself in this situation when I found this site it stopped me doing something really stupid!

TotallyBrassic

Yes HHH I have a different bank now, no connection to any debts...but I made all my token payment cheques out yesterday with cheques from my new account (well it's an old account actually, but never really used until now)!!! I do not know if this will be a problem ( aside from alerting my creditors that have another bank acc) because I don't see how it would be of use to them...I mean they can't take money out without my permission..I hope...lol these days nothing would surprise me though.

HHH I hope a few more people with experience of DMP do post here, because it really boosts me up to see how others have faired on theirs..takes a little of the fear out of it.
Thanks Sagaris for the reply too..all useful info for us newbies!
Have a great day
x

scooterwife

Hello,
We're nearly two years into a DMP with CCCS and they are fantastic.
The best thing about the dmp is knowing that I have enough money to manage on, and I'm not going any further into debt.
Worst thing is 1st Credit, but even they aren't bothering us at the moment.

So the debts we had were:
Halifax - pain in the wotsit - phone calls & started interest again, although it's stopped since we wrote to complain.
Marbles/hfc bank - lovely, transferred to CL finance Debt collectors who have been v. nice up to now.
Virgin - lovely
Northern Rock - ok
Citibank - transferred almost instantly to 1st Credit, who are the lowest form of life, although occasionally you speak to a nice one.
Good luck everyone, and hopefully we'll all be debt free eventually!:j

debrag

Mines with Payplan, started March 2006 - so 2 & 1/2 yrs

MBNA where adding interest up till recently
TSB can be funny, like not hearing from them for month then an increase in payments means they start calling again but soon stop after I don't answer them. Also my credit history with them keeps changing one month is a 3 the next ok then moves up to a 3 then a £.

I like the fact that my callcredit score has finally gone up as of today by 100, my Equifax score is the same as always and I've never had anything with Experian.

I like the fact that I don't have to deal with creditors direct, though maybe if what I know now, I knew then I may have don't it myself.

Only 20 months to go if everything works out right

churchrat

hello all
I really am an old un, having started on a self-run dmp over 6 yrs ago. We started out with £61k, run up when our dd became ill, and are now down to less than £6k, due to finish this time next yr.

The worst companies to deal with were HFC and Lloyds. There were many things we didn't know at the time, such as only dealing in writing, never give your phone number, never agree anything on the phone (I could go on and on!) and it really only got better when I simply had enough and said"take us to court then".

All companies eventually stopped the interest and things have been OK (touch wood) for the last couple of yrs. I think that they have bigger fish to fry now, thanks to the crunch.

The easiest to deal with were most of the dca companies and our mortgage provder, c&g, who were strangly enough owned by Lloyds.

Looking back, I wish that I had known about this site (was it around then ?) and I wish that we had used payplan or cccs. Saying that I quite like being in control, so perhaps it was for the best.
I also wish that I hadn't felt so ashamed of being in debt-- looking back we did so much and went thro so much as a family that debt was really the least of our worries, yet it became a major factor in our lives, almost destroying us where illness, fear and many sleepless nights didn't.

After doing this for so long I still don't feel able to give any advice but would just say--don't let it grind you down. There is far more to life than owing some money, and it does not make you worth any less.

TotallyBrassic

Thanks so much folks for your input..

My main creditor is going to be Halifax in the form of Curr acc o/d, 1 loan, 2 cc's. The other 10 creditors range from £200 -£3800, mostly in the lower ranges. Sooooo I expect some problems with Halifax unless their a*** doesn't know what their elbow is doing then they may treat all the debts differently, and not lump them together..(wishful thinking maybe)

Any experience of mint cc anyone?

Thanks again you are a wonderful bunch
xx

Kandipandi

I was on a DMP with CCCS a couple of years ago, i was on the plan for about 2 years. Towards the end of the plan i offered full and final settlements to my creditors and all but Lloyds accepted. So im still paying Lloyds CC but they did freeze the interest (and im grateful for that!). It was the best thing i ever did, like others have said wish i did it earlier. Since i entered the plan i have changed the way i think about money so much and have not had another credit card/loan/overdraft since - im still on a basic bank account (out of choice) and have a prepay card for any online purchases. I have a mortgage and a loan secured on the property which i am planning to make overpayments on from January and i am now able to save for the things i need (or even want ). Hope this helps, the stress of money is terrible and its such a personal thing for so many people it can be a very lonely time - i was mortified to tell it all to a stranger and even shed a few tears when i first called CCCS but they were amazing and my life changed for the better since that day. Good luck with your DMP's people - there is a light at the end of the tunnel! x

TotallyBrassic

Kandi that is a really positive story. It helps immensly to feel that you aren't alone, and that others are going through or have gone through it and come out the other side stronger and much more focused on all things moneeeeee!


x

mummum2

Great positive posts! thanks to all for posting. Just passed 1st year and I'm really grateful for all you wonderful people on MSE, although I don't post that often, do take on board a lot of what is adviced to others.

Managing money much better now, although still have a way to go, it's getting easier and easier, can't believe after struggling for so long still have cash in my account at the end of each month (not much sometimes a couple of £'s, but it makes me glad to see).

Taken probably uptill now to get all creditors to stop interest, although Lloyds is still adding, but grateful at a reduced amount.