DMP Mutual Support Thread (Part 5)

foolishqueen

It is a bit nerve racking to be honest, but in a perverse kind of way I'm looking forward to all the nasty letters(won't be answering the phone though!) - after reading this board for quite some time I'm confident I know my rights etc

I don't have any experience of Barclay's but I have a £30k loan with Northern Rock so that should be interesting. I might ask them to knock off the amount of my tax contributions from my loan that have been used to prop them up!

Know what you mean about cutting them up - the thing I noticed was how light my wallet was afterwards - weird!!

ianmak

I have a 16k loan (12k when I started the DMP) that after a few letters and phone calls have settled down with now.

Welcome again to the newcomers, it's down to you to entertain us on the thread as I think you noticed the old regulars are trying to abstain from visiting as much, as it can get rather addictive...

icecube2009

charliedavis wrote: »

Does anyone know of a basic bank account with Barclays, Nationwide or Co-op please?

I opened a basic account with nationwide, think its called a flex account, they have been very helpful, bit of advice though I opened it on line so it did take a couple of weeks to get up & running, and was told afterwards it would have been a lot faster had I gone into a branch!

icecube2009

Hi all
within 2 days of sending the notification of DMP & £1 token payments out, my husband has received a letter from Natwest (credit card)

It thanks him for his letter & says the company concerned will most likely request the following:

Balance : ***
Arrears:***
Trems of payment 2.25%
Type of agreement ; Monthly revolving credit
Date: oct 2005
APR : variable
Security held : none

Not sure what this means in terms of our situation, but just niuce to have got a very fast response and one that actually acknowledges our DMP rather then the ones I keep getting from Egg (along with phone calls & emails) asking me to contact them r.e. my situation!

debrag

I'm about to send off letters to all my creditors about me taking on my DMP and for complete balances, hoping to get them to remove all interest that has been added.
Wonder if I'll get any replies my 21st May lol

jodie04

Hi Guys,
i`ve have just started my dmp with baines&ernst, did it this way as i cant deal with the stress any more.
Got someone coming over next week to collect all paperwork and then off we go.
I`m really scared that i`m not going to be able to manage, but looking forward to retraining my brain, only going to work with cash from now on.
As i have a problem with seeing cards as actual money....how this mess all started.
I have 5 years to pay off 15,000 so 5 years of £500 living expenses a month with 4 kids!!!!
Going to have to start looking at major cut backs, any tips will really help

debrag

jodie04 wrote: »

Hi Guys,
i`ve have just started my dmp with baines&ernst, did it this way as i cant deal with the stress any more.
Got someone coming over next week to collect all paperwork and then off we go.
I`m really scared that i`m not going to be able to manage, but looking forward to retraining my brain, only going to work with cash from now on.
As i have a problem with seeing cards as actual money....how this mess all started.
I have 5 years to pay off 15,000 so 5 years of £500 living expenses a month with 4 kids!!!!
Going to have to start looking at major cut backs, any tips will really help

You really should have spoken to CCCS, payplan or national debtline and not a fee paying company.

DevonGirl

Going to have to start looking at major cut backs, any tips will really help

---

Hi Jodie04

Leaving aside the choice of DMP company (as others have mentioned above), just to say there are loads of forums on this site outside of Debt-free wannabee that have ways to up your income, cut back on utilities, get things for free, get cheaper shopping etc - it's a veritable goldmine!

The guys on Old Style MoneySaving are really great at saving lots of ££££s on groceries / household stuff etc.

Also, a lot of people on here have found it useful to keep a close eye on their 'pocket money'. It's surprising how much you can fritter away on a coffee, newspaper and choccie bar every day.

moneybuster

Just sent the last 3 letters off token payments and CCa requests thought we would send them both together save on postage, so the CC + loan companys see we are saving money all ready so we can pay them off with what we have saved on postage:T:T:T;)


Regards moneybuster

massivedebts

jodie04 wrote: »

Hi Guys,
i`ve have just started my dmp with baines&ernst, did it this way as i cant deal with the stress any more.
Got someone coming over next week to collect all paperwork and then off we go.
I`m really scared that i`m not going to be able to manage, but looking forward to retraining my brain, only going to work with cash from now on.
As i have a problem with seeing cards as actual money....how this mess all started.
I have 5 years to pay off 15,000 so 5 years of £500 living expenses a month with 4 kids!!!!
Going to have to start looking at major cut backs, any tips will really help

Hi Jodie
I don't want to harp on about which comapny you have chosen to go with as that is your choice. I would say though that £500 seems very low with regards to your families living expenses, are you able to post what you've been allowed for things? Also, I always worry when I hear that someone is going to clear their debts in 5 years as that is the term of an IVA, are you sure it's a dmp that you're on, please check. I am aware that there are an awful lot of mis-sold IVA's, I think there might even be a thread.
Let us know please and take care.:A

Quick update from me;
All fairly quiet really, I have only ever had 2 calls and both were fine. The odd letter here and there.
Had the 3 biggest creditors accept for 6 - 12 months..........result.:j
Hsbc will accept if I sign a managed loan form....yeah! right!!
Mbna :mad::mad::mad::mad::mad: need I say more?
B'card and Tesco C/C's not a dickie bird:D.
Take care everyone, and it was nice to hear from you MNM :T
MD xx