DMP Mutual Support Thread (Part 5)

jodie04

Hi,
The 500 a month is just food......sorry to be confusing, petrol,clothes etc is not included.
I went with B&E as having 4 kids and 2 jobs, really dont want any more stress, and B&E do everything, which in my opinion is worth its weight in gold.
I know debts would be paid off quicker etc....but if it wasnt` for them i would be paying them off forever anyway.
I`m sure it is a dmp, as they suggested a iva 1st and i said no.
They`ve also said if creditors charge more interest or circumstances change i could be paying for longer, but at the mo were aiming for the 5 years.
Hopefully i will be earning more and it`ll be less!!!!!! aiming to be positive.
Am slowly going through all boards....so many threads that my head is starting to hurt.
Going to just take 1 day at a time now.....and spend as little as poss on everything, try and build up some sort of emergency pot.......as i always need emergency money somewhere with kids. x

ianmak

Again Jodie04, we won't harp on as it is your choice, but I believe we had a DMPer (Read any posts by DLB) on here recently who'd just gone from a fee paying to a freeby and is finding them just as good if not better, and she's able to pay the difference to her creditors to shave time, and that keeps the creditors happy. You really don't have to lift a finger when it's all up and running, and you could save a year.

Anyhoo, a big welcome to you!!

ianmak

dlb wrote: »

DO NOT GO TO THE FEE CHARGING FIRM
I did this for 3 years and have paid over £2500 in fees in that time...this is money that could have gone off my debt.
The fee paying firm told me the same to not make another payment from the first phone call i had with then..which of cause i didnt...but now 3 years 2 months later and now with payplan i can see that alot of the phone calls i had at the start was due to the crediotrs not getting so much as a toekne payment or letter and had to wait 2 months for the first payment via the fee paying firm as they take your first months payment in full as a admin fee meaning 8 weeks before your creditors get anything and then the fees continue each month
GO WITH CCCS OR PAYPLAN PLEASE:D

An example of one reply!

Circling_the_Drain

Just got my forms from the national debtline.It asks how many people are in the household & for details of spouse/partner's.Income.As all the debt is in my name can I just put down my salary & my share of the bills?

ianmak

I presume they want the whole lot, but hope someone will be along to help soon!

cocker100

Circling_the_Drain wrote: »

Just got my forms from the national debtline.It asks how many people are in the household & for details of spouse/partner's.Income.As all the debt is in my name can I just put down my salary & my share of the bills?

Hiya,

I think this is standard practice. They need to know how much money is coming into the house per month so they can work out how much you can afford to put into your DMP.

My DMP is only in my name, yet my partner's salary is included in the figures. She has nothing to do with the DMP and even still has her own creditors that she uses as normal. (Overdraft and Next account). The figures are only used as she contributes to the monthly household bills as the council tax and utilities all come out of her bank, with the mortgage, secured loan and insurances coming out of mine.

Cocker:)

jodie04

Hi,
Thanks for that, i`m starting to think i`m going down wrong path......B&E have told me to stop paying creditiors as from now, and then once they get 1st fee in 3 weeks time, then they will write to creditiors.
So i will prob end up with quite a few charges in those 3 weeks.
So far i have managed to pay all minimum payments and have only been late a few times, i`m thinking it would be better to tell them i`m in trouble while the going is still good?????
I`m self employed and have 3 creditiors tied to business that are doing ok and i cannot default on or no running business...
Will i be able to do this or will cccs payplan need all debts to be defaulted???????

ianmak

Most creditors will default you if you're not paying enough, or to enable them to stop interest, or to sell the debt on. Obv if you pay them enough then they maybe ok, but whether you go with fee paying or not it may happen. I think the only difference between the two is the fee...

I think from my experience it's way better to be upfront and honest with your creditors, but that's just me...

foolishqueen

Hi Jodie,

I think Payplan/CCCS require all your creditors to be included as they can't be seen to favour one creditor over another. But what happens with creditors linked to a business I'm not sure. I'd give them a ring tomorrow and see what they say. There advice is free and impartial so hopefully they will be able to advise you There is also a sticky thread on this forum where you can ask CCCS advisors questions and they will respond within a day or two.

I'm just starting on my DMP with CCCS! Just oragnised a nice new folder with tabs for all my creditors and all the lovely letters I'm going to start getting soon. Sad I know, but I need something to keep me sane

jodie04

My main concern is my car...it`s for business use but is on credit.
i think i can deal with all the rest, but really cannot run a business without a car

Will ring cccs tom, but i signed with B&E on 21st so realy need to sort it out as only a 7 day drop out clause