DMP Mutual Support Thread (Part 5)

Daffykjs

newlywed wrote: »

If you are on a DMP with CCCS or Payplan you have signed an agreement not to take on any more credit at all - This includes signing any new credit or loan agreements.

I thought this too and never would!

However my sil is also on a DMP (not sure who with, CCCS i assume) and started shortly before i did and got a new credit card in dec to help with xmas presents!!!!

When she told me I was really shocked.
a) how did she get it, i know no one would give me one at the moment?
and b) surely she's not allowed and it could affect her DMP?

I have asked her about it but didn't really want to nag. no idea if they are still using it or whether after that it's now ripped up but it just seemed stupid to me and i was quite annoyed at her. didn't seem to me that she taking the whole thing seriously!

I laughed at MBNA when they offered me a loan!! Thanks but no thanks!!

(What does 'managed' loan mean anyway?)

Skintlady

Daffykjs wrote: »

I thought this too and never would!

However my sil is also on a DMP (not sure who with, CCCS i assume) and started shortly before i did and got a new credit card in dec to help with xmas presents!!!!

When she told me I was really shocked.
a) how did she get it, i know no one would give me one at the moment?
and b) surely she's not allowed and it could affect her DMP?

I have asked her about it but didn't really want to nag. no idea if they are still using it or whether after that it's now ripped up but it just seemed stupid to me and i was quite annoyed at her. didn't seem to me that she taking the whole thing seriously!

I laughed at MBNA when they offered me a loan!! Thanks but no thanks!!

(What does 'managed' loan mean anyway?)

You can still take the cards out if a company will give you them!!! Its not you get barred as such , its just you agree not to take out any more debt. It would be a waste of time for the cccs helping people out who are just getting theirselves deeper in to debt. Sometimes it takes a while for the credit rating to get hammered, i still get offered loans and credit cards but i wouldn't touch them now with a 10ft stick.

A managed loan is basically just a loan with a slightly lower credit rating, not really any difference from the usual loans, they just use the word MANAGED to lull you into a sense of false security!!!

geoffmr1

There is nothing wrong with managed loans if you're in a position to repay it, clearly though people that are on DMP's aren't. The whole point of a DMP is to hopefully get interest frozen & charges stopped so that your money is reducing the debt, a managed loan obviously doesn't do that.

HSBC are a nightmare to deal with, out of an original 11 creditors they were the only ones to reject the DMP & whilst they no longer added charges to the account they did keep adding interest, which was more than the monthly amount they were getting. I wrote to the complaints department in the end as we'd been on the DMP for over 18 months & the debt was just going up & up, we immediately got them to sell the debt on (Moorcroft) & now the payments have been accepted & the interest has stopped. Yes we have the default but thats hardly a problem when you're on a DMP anyway.

Crisp_£_note

Is it a good idea to phone my Credit Cards and see if they will help, even if its an 'official' income and expenditure form?

I have been avoiding their phonecalls for about a month now and despite me sending them all letters in the past to request contact in writing only they still continue to 'harrass' yet I just wont answer any calls now whether or not its from a creditor or who, anyone who wants me can leave a message on answer machine. So making a call to them will just renew their knowledge this is the correct number, as no doubt they will ask me for it again to update their records!

Am I better off phoning or writing? I feel they need to know whats going on as I havent paid the minimum repayment last month and cant this month either.

I know I need to get on with it instead of talking about it and feel I am not dealing with things in fear of getting them wrong and making situatins worse.

Thanks

newlywed

Crisp - don't fill out the bank's income and expenditure form if you can help it - they miss categories off that a DMP company will include

They try and catch you out to make it look like you have more money than you really do

You can either ring them or write to them. I wrote saying I'm seeking advice from CCCS with regard to my financial difficulties and will be in touch as soon as I have reference numbers etc.

geoffmr1

Crisp_£_note wrote: »

Is it a good idea to phone my Credit Cards and see if they will help, even if its an 'official' income and expenditure form?

I have been avoiding their phonecalls for about a month now and despite me sending them all letters in the past to request contact in writing only they still continue to 'harrass' yet I just wont answer any calls now whether or not its from a creditor or who, anyone who wants me can leave a message on answer machine. So making a call to them will just renew their knowledge this is the correct number, as no doubt they will ask me for it again to update their records!

Am I better off phoning or writing? I feel they need to know whats going on as I havent paid the minimum repayment last month and cant this month either.

I know I need to get on with it instead of talking about it and feel I am not dealing with things in fear of getting them wrong and making situatins worse.

Thanks

I'm with Newlywed, it seems you are lacking confidence right now anyway so I certainly wouldn't recommend speaking to creditors on the phone. They will lie & threaten until you agree to their demands. Keep everything in writing as they can't deny what they have put in print.

Crisp_£_note

geoffmr1 wrote: »

I'm with Newlywed, it seems you are lacking confidence right now anyway so I certainly wouldn't recommend speaking to creditors on the phone. They will lie & threaten until you agree to their demands. Keep everything in writing as they can't deny what they have put in print.

couldnt be more true I do lack confidence! :eek:

As previously stated all CCCS have advised is all I can offer is £1 as I have no surpless (my income is less than my expenditure) to offer therefore they cant give me a DMP. I have cutback where I can for the near future and could scrape together 10 x £1 for creditors each month somehow.

Have completed a request for advice online for PayPlan but dont think they will be able to help either (they couldnt a few months ago before I cut back) as cut acks havent improved enough I dont think.

Thanks again

Daffykjs

What about speaking to National Debtline. They might be able to give you some advice on what to do. they are very easy to talk to! I really think you need to do something as altho £1 whilst you are getting it sorted is ok I'm not sure they will accept that long term and i don't really know what happens then.

If I was you I'd give them a call. see if they can put your mind at rest and maybe go through your I&E with you.

http://www.nationaldebtline.co.uk/

Hope you get something sorted soon, it must be playing on your mind!

Crisp_£_note

Daffykjs wrote: »

What about speaking to National Debtline. They might be able to give you some advice on what to do. they are very easy to talk to! I really think you need to do something as altho £1 whilst you are getting it sorted is ok I'm not sure they will accept that long term and i don't really know what happens then.

If I was you I'd give them a call. see if they can put your mind at rest and maybe go through your I&E with you.

http://www.nationaldebtline.co.uk/

Hope you get something sorted soon, it must be playing on your mind!

It is and I will (promise ).

Thanks its great to have so many support buddies at my finger-tips! :T

crafty1

If I want to make my token payments next month (dmp in the process of been set up) on a barclayloan and my overdraft also with Barclays, does anyone know where I send these?