DMP Mutual Support Thread (Part 5)

50broke

ADVISE please..... what would you do in my situation:

Moved into 'dream' home in 2007 after bringing up 4 kids and struggling most of the time. ( AND WORKING FULL TIME ALL MY WORKING LIFE) And i've just turned 50, which is depressing.

Massive reduction in wages due to most of the customers of the business are construction, automotive etc.. lucky to still have job really

Setting up DMP with CCCS at moment.... million years before Debt Free Day

Manage with all the priority debts... including mortgage.

THE QUESTION IS; Should I sell home, and offer F & F to creditors and have absolutely no money for retirement etc. I will have no chance of new mortgage due to age and crap credit file etc.

Would have to rent someting unsuitable.. or live with my parents .... what a choice.

OR do I just not sell the house and keep on plan and sod the creditors
ANYONE PLEASE COLUD I HAVE YOUR INPUT MANY THANKS

ad1jnl

Quick update - phoned CCCS today and they've received my stuff. Got new bank account number and wages will be paid there at the end of the month - phew at least I'm in control with what I'm getting. Postal Orders bought and letters to creditors ready to send off. Reading what people are saying I'm avoiding answering the phone and will just reply to letters (already to told the parents to phone the mobile and I've got 1571)

Also bl**dy typical today I get a letter from Royal Sun Alliance about payment for my contents insurance which I thought I'd cancelled - want to argue the toss but can't afford further charges so will just pay up : (

Jon

boot13t

Good evening all,

Had 6 calls today..........sorry you have cancelled your PPI and you have not paid your min payment this month. Have you received my letter? No. How about my second letter? No

Phase 2 starts......we have to notify our biggest creditor (RBS - loan 16K and CC 4K) we're in the initial stages of a DMP. This troubles me as our mortgage is with RBS!

Not sure what happens now..........:eek:

ianmak

50broke wrote: »

ADVISE please..... what would you do in my situation:

Moved into 'dream' home in 2007 after bringing up 4 kids and struggling most of the time. ( AND WORKING FULL TIME ALL MY WORKING LIFE) And i've just turned 50, which is depressing.

Massive reduction in wages due to most of the customers of the business are construction, automotive etc.. lucky to still have job really

Setting up DMP with CCCS at moment.... million years before Debt Free Day

Manage with all the priority debts... including mortgage.

THE QUESTION IS; Should I sell home, and offer F & F to creditors and have absolutely no money for retirement etc. I will have no chance of new mortgage due to age and crap credit file etc.

Would have to rent someting unsuitable.. or live with my parents .... what a choice.

OR do I just not sell the house and keep on plan and sod the creditors
ANYONE PLEASE COLUD I HAVE YOUR INPUT MANY THANKS

I think the sensible thing would be to keep the house, though it would be easy and less stressful to sell it and use that money to offer F&Fs. However what then? You would in effect be starting again from scratch after working so hard for your dream house...

VanillaDelia

ad1jnl wrote: »

Quick update - phoned CCCS today and they've received my stuff. Got new bank account number and wages will be paid there at the end of the month - phew at least I'm in control with what I'm getting. Postal Orders bought and letters to creditors ready to send off. Reading what people are saying I'm avoiding answering the phone and will just reply to letters (already to told the parents to phone the mobile and I've got 1571)

Also bl**dy typical today I get a letter from Royal Sun Alliance about payment for my contents insurance which I thought I'd cancelled - want to argue the toss but can't afford further charges so will just pay up : (

Jon

Do you have a phone that allows caller display as this a free feature if your with BT and so you can see the number calling.

VanillaDelia

boot13t wrote: »

Good evening all,

Had 6 calls today..........sorry you have cancelled your PPI and you have not paid your min payment this month. Have you received my letter? No. How about my second letter? No

Phase 2 starts......we have to notify our biggest creditor (RBS - loan 16K and CC 4K) we're in the initial stages of a DMP. This troubles me as our mortgage is with RBS!

Not sure what happens now..........:eek:

Im pretty sure it wont affect your mortgage as long as you are keeping up your payments. The only thing likely to affect is any bank account you may have with them, which I guess you dont.

VanillaDelia

2009timeforchange wrote: »

This is our first month on the DMP and we are only on the 13th of the month and we have £160 left to see us through till pay day (3rd April)

All the bill are accounted for and I reckon we have enough petrol to get us through so its really food, and everyday stuff.

Any ideas how to make this stretch??

I know the feeling. What we tend to do is stock up loads of mince, cheese, Potatoes, Spaghetti and lasagne's strips and make Shepherds pie, lasagne's and spag bol. Also cheap sausages are good for Sausage casserole and mash. Make your own sauces with things like tom sauce, tin toms, gravy etc.. You could probably get all that for around £10 and make plenty of evening meals for a week.

Also see if you have a Jack Fultons in your area as we have and can get 2 - 3 bags full of frozen stuff for £10, they have brands like Birds eye, Youngs as well. Its not all ready made stuff either.

jenevieve

Evening all,

Hope everyone is well.
Great news ian on M&S accepting - one less to worry about I guess!

Had a couple more letters today including one from RBS with a lovely leaflet on dealing with debt (where they recommend CCCS as someone to contact) - they have sent an I&E form and have asked for a list of all my debts and payments.

Am I right in assuming that once all my paperwork has gone to CCCS and the DMP starts, that they will send a copy of my I&E to all my creditors so I don't have to reply to RBS at this point?
I'm not going to get my DMP up and running until May 1st and my next intended communications with all my creditors will be my April token payments and the CCCS letter of notification of DMP that they recommend sending out to all creditors.
Do I need to send any other letters at this point? My first letter (plus token payment) made my situation clear I think - including my intended plan.......

CornishMaid

geoffmr1 wrote: »

Can I ask if you had a credit card with egg?? If so & you took it out before 2005 then it's likely the CCA they send will be an unenforceable one.

I have one and they are being particularly difficult at the moment. Can I just ask why it might be unenforcable? Not quite sure about the whole CCA thing so would appreciate some advice

ad1jnl

VanillaDelia wrote: »

Do you have a phone that allows caller display as this a free feature if your with BT and so you can see the number calling.

Hi VD,

I'm with Sky for my phone and don't have the caller ID. I don't intend to answer the phone for the next month - just do 1471 or 1571 - if its anyone I know can call them back. Not getting into conversations with creditors - we can do the necessary by letter or they can speak to the CCCS. Hopefully it won't come to this but just in case......

Jon