DMP Mutual Support Thread (Part 5)

cocker100

mandij30 wrote: »

Yes I'm a single parent, there father is out of work and cannot provide any financial assistance. I cannot take on any overtime at work because it affects my benefits ( Child and working Tax credit )

I am in dire atm and already behind on my rent by £200. Things not looking gd for next month either

Hiya, welcome to the gang!

Sorry to hear you are having problems. Looking through your figures, I think that it would be best for you to cancel the fee charging DMP and start paying your creditors only token payments of £1 for the next couple of month. I know there are some on here that are doing this.

This will give you the extra cash to get your rent up to date. This is classed as a priority debt and must be put before all unsecured debts like credit cards.

Once this is done, then you can start looking at the other debt. A lot of people on here have Next as a creditor and they seem to be fairly decent to deal with, so you should be ok there. As for MBNA though....:rolleyes: There are ways around them however (CCA request - but thats for another day);)

Could you try and switch utility suppliers to try and save some extra cash? I see you have Sky. You can get your telephone/broadband through them so that might save you something.

Hope this helps a bit.

Cocker:)

icecube2009

hi everyone, i have posted on here a few times in previous weeks so not entirely new, my DMP also starts june 1st, am glad I am sorting things out!!
welcome to all the other newbies too x

cocker100

mandij30 wrote: »

Yes I'm a single parent, there father is out of work and cannot provide any financial assistance. I cannot take on any overtime at work because it affects my benefits ( Child and working Tax credit )

I am in dire atm and already behind on my rent by £200. Things not looking gd for next month either

Who is your bank account and overdraft with?

Have you opened a new "safe" bank account?

You need to open a new basic bank account not connected to your creditors in any way for your money to be paid into.

Nat West do a good one as do the Co op.

Please dont panic about your situation. You are not alone. I'm sure that there will be a solution for you. Registering on here is the first step into getting your debt shifted. Stay positive!

Cocker:)

cocker100

Daffykjs wrote: »

Stolli,

I keep putting off reclaiming charges! not really sure why, it just seems quite daunting and i'm not even sure i'll count for 'hardship'!! What's the first thing i need to do? And what info do i need for ppi reclaiming? I don't think any of mine had it but two of hubs did so i might as well try that too.

Ta

Hiya,

Just to let you know, if you are reclaiming charges on a credit card, then there is no hold on these and you can reclaim without using the hardship rule.

The court case hold on charges only applies to bank charges. (i.e. overdrafts)

Cocker:)

ANY_CHANCE

cocker100 wrote: »

Hiya,

Just to let you know, if you are reclaiming charges on a credit card, then there is no hold on these and you can reclaim without using the hardship rule.

The court case hold on charges only applies to bank charges. (i.e. overdrafts)

Cocker:)

Hi i just wanted to let you know that i wrote to my creditor the Halifax complained about bank charges and told them that i was experiencing financial hardship eg i was on a DMP etc and they refunded my bank charges which came to over £2000.
It is worth a try it may not always work but you never know, at least it gets the ball rolling. Good luck x

Daffykjs

cocker100 wrote: »

Hiya,

Just to let you know, if you are reclaiming charges on a credit card, then there is no hold on these and you can reclaim without using the hardship rule.

The court case hold on charges only applies to bank charges. (i.e. overdrafts)

Cocker:)

The biggest one is the bank account overdraft!! so that's what i want to do first. but i probably will do the cards as well.

CornishMaid

Hi all,
haven't posted for a while but have been keeping up with the thread. Don't know whether you remember but I'm doing my own DMP and being a few months in I'd be happy to answer any questions that anyone considering this route may have (I'm not by any means an expert though :rolleyes:)

Still battling with Egg, who only acknowledged my 6 letters to them on the day that they received my formal complaints!

Barclaycard haven't formally accepted but have gone quiet in the last 2 weeks - not sure whether to be pleased or worried!

I have merrily carried on paying all companies during the negotiations though and feel so happy when I make the payments at the beginning of the month! Mortgage and secured loans are up to date so I am sleeping SO much better than I was a few months ago.

I was interested to see the responses to Toffee Penny's question about OHs. My OH does not deal with anything to do with our debts - never has (that's possibly why we're in so much trouble! ) BUT I feel happier doing it myself and, to be fair, he's happy to do a joint DMP, even though his debts are less than a third of what I owe and he is the main earner. He works really hard to provide for us and he honestly never complains so I'm happy to do all the negotiating (plus he's a sap and would speak to anyone on the phone so it's best to do it all myself :rotfl:)

Anyway, enough rambling, I do actually have a question! Most of our creditors have agreed to reduced payments and suspended interest and charges for periods of between 3 months to 1 year. Can anyone tell me what happens then? Do they simply ask for details of current income and expenditure or do they expect you resume full payments, along with interest and charges? If you do a CCCS/Payplan DMP do they accept for a certain amount of time or for the duration, until you've cleared the debt? Just wondering if I've got many more months of negotiating or if it will be a simple process of showing them our circumstances haven't changed.

One final thing to report - received £1300 repayment of PPI from Halifax today, so feeling pretty chuffed :T

Hope all are well, CM.

scouselad1974

Hi Guys

Have any of you had any dealings with any of the following companies while trying to set up your own DMP, I was just after a bit of feedback as none of the following companies have acknowledged my letters as yet

Argos Store Card

Studio Catalogue

Vanquis Card ( I,ve just received a new card from them today even though I sent them a letter explaining my circumstances last week, the interest rate is a huge 48.9%)

cocker100

CornishMaid wrote: »

Anyway, enough rambling, I do actually have a question! Most of our creditors have agreed to reduced payments and suspended interest and charges for periods of between 3 months to 1 year. Can anyone tell me what happens then? Do they simply ask for details of current income and expenditure or do they expect you resume full payments, along with interest and charges? If you do a CCCS/Payplan DMP do they accept for a certain amount of time or for the duration, until you've cleared the debt? Just wondering if I've got many more months of negotiating or if it will be a simple process of showing them our circumstances haven't changed.

Hiya CM,

What usually happens is that the whole process starts over from the beginning again. You just resubmit your up to date income/expenditure form and hopefully they will accept for another 3 month, 1 year or whatever.

I'm over 18 month into my DMP and had 2 reviews since it started. On the whole everything is still going ok, apart from Lloyds TSB who I removed from the DMP for non compliance of CCA request after they stopped accepting the agreed repayments.

4 month on since their removal, they continue to huff and puff and threaten to blow my house down, but without a valid credit agreement they wont win and they'll run out of puff!(Plus my house is made of bricks!:D:rotfl::D)

Cocker:)

CornishMaid

Plus my house is made of bricks!:D:rotfl::D)

Cocker:)[/QUOTE]

Mine is made out of hay!! ( a very very bad buy many years ago - now falling apart around our ears - but that's another story... :rolleyes:)

Thanks for the advice. I only ask because I'll be doing my teacher training from September which means I'll have much less time for negotiating with creditors. On the same subject, I will get a teacher training bursary and student finance for the next year - should I include this in any future budget sheet? I was hoping to stick it all in a separate account and try and do some full and finals at the end of the year?

CM x