DMP Mutual Support Thread (Part 5)

boot13t

Hello,

Myself and the good lady are embarking on a DMP with Payplan. We have roughly 33.5K of unsecured debt with a range of folk and I was wondering from your experiences which of the following creditors are evil personified:

1. RBS Loan 2. RBS O/D 3. COOP Loan 4. COOP O/D 5. Vanquis CC 6. Aqua CC 7. Capital One CC 8. Lloyds TSB CC 9. RBS CC 10. Egg CC

As my JSA stopped recently, the only income we have is approx 1600 english pounds and our proposed repayment is 322 english. Is this likely to suffice?

I am concerned by the additional charges going forward as to see some light at the end of the tunnel....

One more quick question, we're leaving our current account as my wife's salary will be paid into a new one on the 31st March but are currently living on the overdraft. Will this cause any issue for the DMP with regard to that specific creditor?

Thanks for any advice :beer:

ianmak

boot13t - Welcome. Are you asking if it's a problem if the new account is linked with a creditor? In which case it could be a problem.

Otherwise, Egg on your list is one of my creditors. 2.5k of debt, and they defaulted straightaway. Not heard a thing since.

massivedebts

Hi Boot13t :j (wasn't sure how to abbreviate!?!)

Welcome to the board, nice to know that there are so many of us pulling together in the same boat.;)

Can't help you much with your Q's as I'm not up and running yet with my DMP and have not had any experiences with the Creditors yet, in fact looking at yours we don't have any matches!:p

Someone will be along soon to give you some advice, so hang in there, it's a little slow on here today, but trust me it'll pick up and we'll all be inundating you with answers!:D

Take care
MD xx

Jvic28

boot13t wrote: »

Hello,
1. RBS Loan 2. RBS O/D 3. COOP Loan 4. COOP O/D 5. Vanquis CC 6. Aqua CC 7. Capital One CC 8. Lloyds TSB CC 9. RBS CC 10. Egg CC

I have experience with Vanquis, Aqua and Capital One. They all stopped interest and charges with little fuss and I'm only paying them a total of £15 a month between them off a £1096.22 debt. :j

I also have an account with Natwest which I believe is RBS. I have no idea how I've faired with charges from them as they haven't been sending me statements (something which I'm trying to sort out this week) but I never have any bother from them and owe them a total of £4721.21 (loan + overdraft)

boot13t wrote: »

As my JSA stopped recently, the only income we have is approx 1600 english pounds and our proposed repayment is 322 english. Is this likely to suffice?

If that's all you've got it'll have to suffice. It sounds good to me anyway. I pay £132 of a total of about £9500

boot13t wrote: »

I am concerned by the additional charges going forward as to see some light at the end of the tunnel....

You are likely to get charged at the beginning but trust me it does get better, Since June 2008 I've reduced my total debt by over £2000.:D

boot13t wrote: »

One more quick question, we're leaving our current account as my wife's salary will be paid into a new one on the 31st March but are currently living on the overdraft. Will this cause any issue for the DMP with regard to that specific creditor?

It's likely that once your bank realise you've stopped depositing into that account they could restrict access and any funds being removed. Mine lowered my overdraft with no notice to stop me from taking any more out and barred me from internet access to my account.

Good Luck

xxx

boot13t

ianmak wrote: »

boot13t - Welcome. Are you asking if it's a problem if the new account is linked with a creditor? In which case it could be a problem.

The new account is with Halifax and is in my wife's name only. I have a debt with Aqua who are part of HBOS but I doubt they can touch her account!! :j

We're sneaking out of the COOP as we speak paying this months direct debits and running off to the Halifax. I was concerned that the COOP may be troublesome or determine our actions as some sort of fraud

It was sort of advised we should leave the COOP and RBS to last before jumping ship as we have a large loan re-payment (RBS) due on the 28th and then inform them of the situation / arrangement with Payplan.

Great Escape tune in the background......

Jvic28

boot13t wrote: »

The new account is with Halifax and is in my wife's name only. I have a debt with Aqua who are part of HBOS but I doubt they can touch her account!!

If it's in her name and the aqua card is in yours then there's no worries.

Toffee_Penny

It's been a mad few days in my house, had a threatening letter from Moorcrap :iloveyou: :rotfl: , daughter moping around cause 'everyone else' has a McKenzie jacket costing £50 from JD sports and she hasn't :rolleyes: , looks like I'm going to have to contact the FOS for some creditors and the Post Office have lost letters sent by signed for delivery :mad:


but better news....... OH had a letter today from Halifax credit card refunding ppi for £1949.72!!! :beer: :j :T:rotfl:


Get yer coats you lot, we're all going to London to watch The Lion King musical! :rotfl:



be back later for a chat, hope everyone is well? xxx

myeyesropen

hello everyone
I have lurked for a long time on this forum and have all ready benefited greatly from the opinions and advice given here.
I had my light bulb moment in January 2009.
I begin my DMP with CCCS on April the 1st.
I sent off all my paperwork this morning.
I guess I will be a long termer, with my level of debt but I am hopeful my situation will improve.
:-) Please can I have a DMP mutual support number :-)
I would just like to say even though i have never spoken to any of you, you have all ready provided me witha great deal of support and i truly believe that my head would still be firmly in the ground with out this forum, so yay for all of you. thanks.

boot13t

Hello and thanks for the welcome :beer:

Receiving a new bank card this morning was like manna from heaven :beer: :beer: :beer: :beer: :beer: :beer: :beer:

As in Germany beer is bread......

suze72

Hi there all you newbies :hello:
Actually I'm still quite a newbie myself, but thanks to all the luvverly people on here I am finally on track and can see light at the end of that tunnel - even if it is quite a long tunnel!!

I overspent on my shopping again today but I'm sure I didn't buy any more than usual.
We managed to pay all the monthly bills this week with 40p to spare!!!:eek:
Talk about a close shave, but it still feels good not to have gone into an overdraft or cc, whats paid is genuinely paid.

TP thats fab!:D Enjoy your evening.xxx