VETERAN DMPers! Tell us newbies your Story

Limana68

HI there
I have been on a DMP for the past 2 1/2 yrs with CCCS, and its going great, interest has stopped on all loans and credits card, but it did take 6 mths at least for it to stop.
What i would say is when you do speak with an advisor, and you go through your budget, make sure you put a decent amount in your 'emergency' fund, so you do have enough to pay out if something breaks down( ie my washing machine!) I didnt and am struggling to find the money to replace it as have got it fixed several times now.

Good luck with it!

Mrs_Ryan

karenw wrote: »

Hi Folks,

I also have another debt with very has anyone had any luck with them?

I have a debt with Littlewoods who I know are the same group - they moaned a bit at first but they've been ok generally. I dont think they ever officially accepted but they've been taking payment and not recording any more adverse so they've been ok generally.

Been on DMP 16 months, just switched DMP providers now, never had any probs with any of the companies - JD Williams/Reliable Collections (x6) Littlewoods, Citi, GE Money/Santander/CL Finance (Evans card) and - shock horror - NATWEST!

Ellieseleven

I just wanted to say that this thread is fantastic, especially for someone like me who is just setting out on the DMP journey:T

I am finding it very hard to come to terms with our financial situation and the fact that we are having to go onto a DMP and at the moment I am experiencing horrendous panic attacks etc. but reading through this thread has helped enormously and it confirms that we are doing the right thing:)

Please keep posting all you veteran DMPer's as you really are making a difference to all of us newbie's;)

Ellie xx

JES_F1

Hello :wave:

I've been on my DMP with the CCCS since the beginning of 2008 and am now about half way through (assume things continue as they are now).

TotallyBrassic wrote: »

Was yours a success or failure?

It's definitely been a success so far - definitely the best decision I made. I can sleep at night now not worrying! I've been a bit down about my debts over the last couple of months but in a 'fed up' sense - nothing like those early dark days!

The first couple of months were a bit grim while it settled down. I now rarely hear from creditors other than statements.

In most cases, I now have a long-term arrangement in place to make reduced payments. For a couple of creditors, I've got a 12-month agreement in place; when this comes close to 'expiring', I ask the CCCS to tell the creditor that nothing's changed and ask for the agreement to continue - and the agreement has been renewed for another year.

TotallyBrassic wrote: »

Are you relieved to have taken this route or would you have done it all differently?

Yes, definitely relieved to have taken the DMP route.

The only thing I would have done differently relates to my use of MSE/DFW. I'd lurked on the site and this forum occasionally but didn't register to participate in the forums until the June.

I would have still gone ahead with the DMP but being more involved on DFW - reading or asking - would have made me less panicky in those early days. Though I learnt quickly not to believe everything I was told on the phone and to read letters properly, I did make a few 'mistakes' early on. For example: I'd go through the security questions if a creditor called (something I quickly stopped myself from doing) and then get frustrated with some 'stupid' call-centre person; with letters, I would read that the creditor will take me to court rather than may take me to court.

The advice on here has been a great support. It's a relief to know that it's not just me and that others are in the same boat.

Just wish I'd done it sooner ... years sooner! I thought my debts were *only* £25,000 so it was a shock to total them up to over £45,000!

TotallyBrassic wrote: »

Name and shame the companies who didn't play ball.

Nationwide have been my most difficult creditor. I started my DMP owing them less than £2,000 on a credit card - only one other debt is smaller.

They refused to accept the DMP, then did for three months, refused to extend it, then accepted for six months, and refused to extend this further. (During both periods, they did freeze interest and fees.)

They then froze my bank account - I'd stupidly kept my bank account with them. After seeking advice from the CCCS, I had no choice but to clear the arrears to unfreeze my bank account. (Fortunately I'd some money from online sales in another account elsewhere that I could use.) I've now got a new bank account!

After much battling and endless letters, the Nationwide finally accepted the DMP for a year, freezing interest and fees, and this comes up for renewal later in the year.

I was - still am - really mad with the Nationwide. Their website gives clear advice about what to do when you get into financial difficulties, including keeping them informed and consulting the CCCS. Despite doing this - correspondence between us is over an inch thick on my file - they couldn't give a damn. Naively, I also thought the fact I'd banked with them for over 20 years meant something ...

Though American Express were fine, instantly defaulting the account to accept the DMP, they passed my account to RMA Resolve.

I've hardly heard a thing out of RMA Resolve and all was going OK until I had a letter from them offering a 'full and final' settlement, which I wasn't in a position to accept.

Because the outstanding balance was considerably different from my records, I asked for confirmation of my payments, any charges being added, and other information. Despite many requests, I didn't receive a response so had to submit a SAR request.

TotallyBrassic wrote: »

Name and praise the companies who did.

All my other creditors accepted pretty much immediately. But I would single out M&S and MBNA. They're my two biggest creditors (both a credit card), owing them about £18,000, fairly evenly split. Both instantly accepted the DMP for a year, freezing interest and charges, and have continued to accept at the end of each 12-month period.

hadleigh47

Generally DMP's work and in time the creditors get the message. Just ensure they stop adding interest.
I do feel that CCCS should have advised me better at the time and that bankruptcy would have been a better option in some circumstances.
Unfortunately CCCS is financed by debt industry and have occasionally found them in consistent