DMP Mutual Support Thread (Part 5)

Mrs_Ryan

Hi everyone!

Letters today from 4 of my catalogues officially accepting my payment plan, and a statement from Littlewoods that seems to suggest they are going to accept, with a refund of one default charge - how nice of them I didnt even ask

I am also with a fee-paying company - Kensington, although their fees arent as bad as some - £36 per month. None of the free ones would touch me either - my debt is only £4500 but the interest rates on my catalogues were shocking and were crippling me. Plus Kensington work closely with my catalogues so they also knocked some money off the balances for me which definitely helped.
My minimum payments were coming to about 500 quid a month and my wages vary so wildly from month to month that every month just before payday I found myself panicking over who would get paid that month and I just couldnt live like that. I dont have any rent or bills to pay so all the free ones kept repeating was 'it doesnt seem you have a problem paying.' But I did!! I would prefer not to be with a fee-paying company but theres absolutely no way I can go it alone - I have an incredibly stressful job and I work very strange hours as well as looking after OH so its really useful to let someone else do the hard work for me!!!
Kudos to those going it alone though... its a big thing and....you deserve a big :T

Mrs R xx

trying_to_stay_positive_2

just sending my paperwork off to ccs for the first time, can I sent photocopies of my latest statements or do they have to be the original ones?

DevonGirl

trying_to_stay_positive wrote: »

just sending my paperwork off to ccs for the first time, can I sent photocopies of my latest statements or do they have to be the original ones?

They can be photocopies. I know this from experience because I sent my originals including pay slips and they all got shredded by CCCS rather than sent back to me :mad:
Best wishes
DG

sandalwood_2

Hi
Wondering if anyone knows about trying to find out if a debt is enforcable
I took out a loan with virgin (MBNA) in 2007 sometime,don't recall siging anything,can I request the signed form and if they dont have it can I argue that it is not legaly binding?
I have seen a few other threads re this but I dont understand what I have to do,if I have to pay it,I have to pay it,but if they have nothing I can knock £7k off my debt......thought I would try my luck...any thoughts and advice on this would be much appreciated
thanks

talisker78

Really stupid question here - sorry!

I'm creeping ever closer to getting a DMP, depending on a possible promotion in the next month or so.

I currently have a mortgage with HSBC which is on a fixed rate until Jan10. If I get a DMP, I know that wrecks your credit rating, do i just revert to their standard base rate after the fixed rate ends or do I HAVE to get a re-mortgage with them? And, given that i may be on a DMP would they be able to withdraw my mortgage.

Sorry, i'm a recent first time buyer and I still get a bit confused with the whole mortgage thing - and I guess a bit panicked as well!

thanks

cleomolly

Hi fellow members, I still need some help with my bank accounts before entering into a DMP, if any knowledgable peeps out there can advise??

sandalwood_2

cleomolly wrote: »

Hi fellow members, I still need some help with my bank accounts before entering into a DMP, if any knowledgable peeps out there can advise??

What do you need to know?

bigmommamuppet

talisker78 wrote: »

Really stupid question here - sorry!

I'm creeping ever closer to getting a DMP, depending on a possible promotion in the next month or so.

I currently have a mortgage with HSBC which is on a fixed rate until Jan10. If I get a DMP, I know that wrecks your credit rating, do i just revert to their standard base rate after the fixed rate ends or do I HAVE to get a re-mortgage with them? And, given that i may be on a DMP would they be able to withdraw my mortgage.

Sorry, i'm a recent first time buyer and I still get a bit confused with the whole mortgage thing - and I guess a bit panicked as well!

thanks

Hi there,

Not 100% sure, but I had a fixed rate with NR and when it ended I just reverted to their standard variable rate with no questions asked. I know I'm not on a very good rate at the moment (as NR have one of the highest rates going) and when the rates go up, I may need to shop around but at the moment I'm happy that the mortgage company are getting paid and that they have no idea that I'm on a DMP.

I suppose in theory they could withdraw your mortgage facility but as long as you’re keeping up with your payments they should be fairly happy as you’re not be in breach of the agreement you signed when you took the mortgage.

Becks

cleomolly

Hey jaybag - I posted on page 196 thread 3910, hope it makes sense! I'm finding it really hard to explain what I mean!

sandalwood_2

cleomolly wrote: »

Hey jaybag - I posted on page 196 thread 3910, hope it makes sense! I'm finding it really hard to explain what I mean!

Just seen it,this is what me and OH had:
We had an account each with Natwest that our wages were paid into-then we had a seperate joint account that all the house hold D debits (whos ever name it is in)and bills came out of,we just transfered a set ammount into that every month to cover it all,and any seperate bills we had,i.e loans,credit cards,came out of our own seperate accounts

When we went to payplan they advised us to change banks as the majortiy of our personal debts were either RBS or natwest,and they could of taken money out of accounts to cover the debts that we adding to our DMP

So what we have done is each taken out a seperate account with Barclays for our wages to go into,and also opened joint account for our house hold bills and D Debits to come out of and transfer money every month to cover these.that way we still have our own (little ammount)of cash each and we know that all the money in own accounts are our own(if u know what I mean) I have also opended a saving account with Barlcays that I can put any excess spare cash into that is left over at the end of the month so it is kept well away from the joint account
It was easy doing this,can just go into the bank and open or either on line

Hope this answers your questions...