VETERAN DMPers! Tell us newbies your Story

TotallyBrassic

:j :rotfl: bump :rotfl: :j

Lodge

Great reading all these replies - Well Done to everyone!!

I'm about a year into my own, self organised, DMP which has been going great until this month

Basically I cannot afford the agreed payments this month because of an unexpected expense (car repairs ahhhh!).

Should I contact the creditors and explain the situation? Should I send a lower "token" payment to show my intention to pay?

Please offer any advice you can, any of you guys ever missed your payments whilst on a DMP?

Thanks.

D.

Lodge

Bump to the first page please!!

Deep_In_Debt

Hi
I've been on my DMP with CCCS since the beginning of the year and generally things have gone pretty well.

A couple of my larger creditors, MBNA being one, froze interest immediately and accepted my payments. The only contact I have had with them was when they issued a default notice in April. All of my creditors have frozen interest now and still have. Blair Oliver & Scott have been great with me too. They also froze interest immediately and I've not heard from them since January.

Being on my dmp has been a life saver for me. MBNA actually recommended I contact CCCS (this was before I discovered this forum and I hadn't heard of CCCS before) as they would more likely accept a dmp if I went via CCCS and true to their words, they did. I think CCCS have a lot of respect as creditors know that all the money will go to them and not be taken in fees, etc.

Good luck with the DMP.

bargain-hunter-uk_2

Been on a DMP since January...

Working really well, and takes away nearly all of the stress.

My creditors:

MBNA, Virgin Credit card--by far the most supportive, quick, no interest, supportive clear letters and no hassle.

Lloyds TSB Credit card--A nightmare at first, claiming they never received the DMP instructions from CCCS... turns out they're just behind at their offices, received recorded calls daily, threatening staff. I eventually threatened them with harrassment, and they pulled their finger out after a letter. No they are working well.

Barclaycard--Again a little bit of hassle from calls at first, but after a letter they shut up and updated their systems to show I was on a DMP. all running ok now.

HBOS Halifax credit card--Good, stopped the interest immediately and all working well.

First Direct, CC and Overdraft--Good, called me, very nice lady, said they would accept the DMP, and would like to move my CC debt to my overdraft account and then I would be paying minimal interest. She did this right away and communicated via letter. really pleased.

Natwest--ok, seemed sorted, but after about 3 months started receeiving late payment charges etc, almost like their systems had removed me from a DMP. sent them a letter, they corrected it, wiped the charges, and now my statements are relective of the DMP

RBS--same as above (part of the same group)
Mint--(same as above part of same group)

Barclays current acc overdraft + grad loan-- Got a harsh letyter or two first week, but then nothing after that, just a letter to say carry on paying DMP. not heard a squeek from them since.

I sent out this letter a couple of months back to my creditors, and it works, most of them lowered or stopped interest. I'd say give it a go.


July 2008

RE: **************

In February 2008 I wrote to you advising you that I was struggling to keep up repayments on my account, and had sought the advice of the CCCS. The CCCS provided details of a DMP in March, with first payments to be made in April. This arrangement was adhered to and a payment of £**.** was made to my account on 25th April 08. Payments have continued since promptly.

You replied on 13th June 08 with a letter confirming that a repayment plan would be set up and reduced payment arrangements would be made from here on in. This was only put in place after weeks of phone calls to Barclaycard trying to resolve my situation. I am pleased this is now resolved.

In the last few weeks I am pleased to advise that I will be making improved monthly payments, and this will now rise to £**.** per month beginning July 08.

In light of my situation, and the burden that clearing a balance such as this and my other creditors brings, it would be beneficial to both Barclaycard and myself if you may be able to either suppress or reduce the interest payments so that I can settle the debt as quickly as possible in full through the DMP.


Thank you for assisting me with this situation, and I look forward to receiving a reply from you shortly.

Yours Sincerely

hope this helps guys!

Deep_In_Debt

Lodge, I would contact your creditors and explain the situation and send a token payment this month - £1.00, £5.00 or whatever you can afford for this month.

TotallyBrassic

Not sure Lodge...just ring your dmp company and ask. I am sure there are circumstances where you can jiggle. The advice I have had is to have a little savings pot apart from dmp, in order to cover unforseen financial things, I am going to try and save about £10 a week if poss for emergencies.

Thanks bargain hunter & deepindebt for all the info, really useful to me as lots of same creditors...
Just waiting now to see what happens re: phone calls and stuff.
I been getting a few esp from Halifax cc, robotic voice, keeps ringing, but I have vowed from today I will answer all calls and tell them the situation and just be upfront with all creditors...not hide from them.

Once again all info really helps us just setting out on this path.
xxx

newlywed

Lodge wrote: »

Basically I cannot afford the agreed payments this month because of an unexpected expense (car repairs ahhhh!).

Should I contact the creditors and explain the situation? Should I send a lower "token" payment to show my intention to pay?

Please offer any advice you can, any of you guys ever missed your payments whilst on a DMP?

Hi, I am with CCCS and had to make a reduced payment coz of car costs. They advised me to contact each of the creditors to let them know it will be a one off reduced payment and go back to normal afterwards. I also told them why. They were all fine about it

Deep_In_Debt

TB, it won't be an easy ride for the first couple of months. Creditors will probably bombard you with calls and letters but once the DMP really kicks in and they see regular payments coming through, they tend to settle down. Just gotta ride the storm for 2 or 3 months.

I'm about 10 months into mine now and one creditor (Hellifax) is refusing to accept my dmp. It's rather annoying as I am paying them £17 per month through my dmp and they want £19 per month in order to freeze interest and accept my dmp - it's only an extra £2.00 a month but if I pay them that, it would cost me nearly an extra £100 a month on my dmp as I have to treat all my creditors fairly and pay them more as well, which I can't afford and it's all for the sake of an ext £2.00 per month!! Oh well! On the plus side, it must be costing Hellifax a lot more than £2.00 per month by phoning me 7 times a day on my mobile and landline just to be told the same thing by me every time. Am surprised they are not bored with it!! I'm waiting for them to pass the debt on to a DCA so that I can start to make some headway with it but they seem relcutant to sell it on!

TotallyBrassic

Yes Deepindebt, I know the avalanche of calls is heading straight for me this week.

Got my first call this morning from Grattan catalogue..lovely lady, she asked for £70, so I told her it was now in the hands of cccs, and she would be hearing from them very soon, she was great, just said she would put a note on the account. phew....hope they all like that;)

xx