DMP Mutual Support Thread (Part 5)

cocker100

Jemima09 wrote: »

I have questions!

my plan was to look at the budget that CCCS drew up for me, add up all the groceries, petrol etc, then transfer that into the new account. I was then going to send out the token payment cheques from my old account (seeing as it's not closed yet, and I can close it once they've all been cashed)

With regards to token payments, if I send off the forms to CCCS this week, I assume I will start paying them from 1st July. They should then make a payment around the 25th July, so that should cover everything next month.
so, things like my loan payment, I've already paid 1st June, it's the 1st July payment that will be missed. If I send a token payment NOW, can I specify on there that it's for the 1st July payment? I'm worried they'll think it's an extra payment for June! I don't want to hold off on sending the letters in case I leave it too late...

Am I doing this right? Any better ways around it? :rolleyes:

Hiya,

Firstly, forget your old bank account, this is now gone. Send the token payments from your new bank account. Your old account will be part of your DMP, so the bank won't like it if you use them to make token payments to your other creditors from it. Also, if they get wind of the DMP before the token payment cheques are cashed, they might close the account anyway and the cheques would bounce! A better way is to use postal orders. That is what most people on here have done.

You only need to send £1 token payment to each creditor. It doesn't really matter when you send it becuase it wont cover the actual contractual payment anyway. Even if you sent 50% of the contractual payment to your creditors, they would still treat you the same way as if you send only £1, as you have failed to comply with the terms of the original credit agreement.

A lot of what follows is computer generated nonsense. You are only a number in the system. Whether you have had a good relationship with your creditors in the past or not, it all goes out of the window. When you break the terms of any credit agreement, they will turn on you and demand the money be paid back in the shortest time possible. Some people on here had banked with certain creditors for 20 - 30 years with no problems, but as soon as they got into arrears, they washed their hands of them!

You will get letters demanding payment in full and threts of all sorts, but these are all just scare tactics to get you to pay up. Just file them away and pay what you can through CCCS. Let CCCS talk to your creditors on your behalf and things will eventually settle down again once the creditors know that they wont get any more than what you are offering, but that you are still committed to paying off your debts.

Remember the golden rule:
They cant have what you haven't got!

Take care,

Cocker:)

ianmak

Jemima09, your number is: 315.

Jemima, please just make the £1 token payments for this month (and the next if need be). Make it £2 if you really want to, but no more than that, as supposing your DMP payments end up being less than the token payment, they'll want to know why. If that makes sense.

Eupho

Phew!.. Thanks Cocker! :T

ianmak

Cocker, you beat me to it! Are we both on the late shift tonight?

Jemima09

cocker100 wrote: »

Hiya,

Firstly, forget your old bank account, this is now gone. Send the token payments from your new bank account. Your old account will be part of your DMP, so the bank won't like it if you use them to make token payments to your other creditors from it. Also, if they get wind of the DMP before the token payment cheques are cashed, they might close the account anyway and the cheques would bounce! A better way is to use postal orders. That is what most people on here have done.

You only need to send £1 token payment to each creditor. It doesn't really matter when you send it becuase it wont cover the actual contractual payment anyway. Even if you sent 50% of the contractual payment to your creditors, they would still treat you the same way as if you send only £1, as you have failed to comply with the terms of the original credit agreement.

I hadn't thought of it like that... I was just thinking in terms of "I've paid may's payment, then SOMETHING towards June, rather than a bonus payment in may..." if that makes sense. But you're right, it doesn't make a difference whether I pay £1 now or £180 on the due date, I'm not paying the full amount so it'll be the same default!! I guess I just thought they'd be nicer if I made a payment closer to the DMP estimate, but like you say, it's not a real person reviewing it, it's just the computer.

So I'll do that. I've got to go to the post office anyway so getting postal orders is no problem.

I was in the bank at the weekend and did explain to them what I am doing (I'm with barclays who CCCS said I can stay with as they do accept DMPs, I just had to get a cash account and move my direct debits across). They've left the old one open for now while I transfer DD's (they can't transfer DD's to a cash a/c, you have to ring companies yourself and get them to do it..), so as I just got paid into my old account I'm moving some funds into the new account to cover bills for this month.

Once I've sorted the DD's (there's one that I suspect will already have been requested from the old account), then I'll move money to the new account to cover those, and get the old account closed.

I've been told to expect the threatening letters am glad I have chosen to go with the CCCS, I think I'm too much of a wuss to go it alone!!

cocker100

Eupho wrote: »

Please tell me to shut the hell UP.. if me posting these on here is annoying.

But honestly.. its only trying to give other people ideas and encouragement.
I know HOW much reading stuff like this helps me when I was/am confused.

:T

Hiya Eupho,

Or should that be Helloooooooooooooooooooo Eupho!;):rotfl:

Your contributions on here are really welcome and not in the slightest bit annoying. Its great that a relative newbie to the thread can give out good advice and put others at ease who are finding it hard.:T:T:T

I know from experience how difficult it can be at the beginning of a DMP. But i'm now 20 month into mine and a lot more confident now.

Your little snippets mean that us more experienced DMPers dont need to post as much, as you seem to have a lot of things covered. I still read through the posts most days, but feel that you give plenty of reassurance to others, so dont feel the need to post anything!

Keep up the good work,:beer:

Take care,

Cocker:)

:wave::wave::wave::wave::wave:

Jemima09

ianmak wrote: »

Jemima09, your number is: 315.

Jemima, please just make the £1 token payments for this month (and the next if need be). Make it £2 if you really want to, but no more than that, as supposing your DMP payments end up being less than the token payment, they'll want to know why. If that makes sense.

Thank you!

You're all right! I wasn't thinking in those terms... I was thinking they'd be less hard on me for making a higher payment, but at the end of the day it's still not the contracted payment.. and I hadn't thought of what would happen if mine was higher than the CCCS one.

So £1 it is

cocker100

ianmak wrote: »

Cocker, you beat me to it! Are we both on the late shift tonight?

Looks like it!!!

I was at a barbie earlier today. Think I had too much food/beer/sun and dosed off when I got home.

Now i'm wide awake, so thought i'd crank up the old pc!

Eupho

cocker100 wrote: »

Hiya Eupho,

Or should that be Helloooooooooooooooooooo Eupho!;):rotfl:

Your contributions on here are really welcome and not in the slightest bit annoying. Its great that a relative newbie to the thread can give out good advice and put others at ease who are finding it hard.:T:T:T

I know from experience how difficult it can be at the beginning of a DMP. But i'm now 20 month into mine and a lot more confident now.

Your little snippets mean that us more experienced DMPers dont need to post as much, as you seem to have a lot of things covered. I still read through the posts most days, but feel that you give plenty of reassurance to others, so dont feel the need to post anything!

Keep up the good work,:beer:

Take care,

Cocker:)

:wave::wave::wave::wave::wave:

:rotfl::rotfl: Nooooo.. dont do that!.. I sit here thinking.. shall I say something or not?? ..

Knowing it's hard when you are waiting for someone to reply to your question.. (and if you are anything like me.. refreshing the page 20 times to see if anyone HAS haha)

and also knowing HOW grateful I always am when anyone replies, even if it is something little to say that they dont quite know.. but they are fairly sure that its something like.. blah blah blah.. Even that helps me. :T

So I try to see it that way.

hahah! I was saying how I am like a chimp playing about in a NASA control room with all this.. and honestly.. thats not far from the truth.. So forr gawwwds sake please DO dive in and grab the wheel. hahah!

I am always waiting for someone to say.. Eupho you are an idiot!! you dont know what you are talking about!!..

and they would mostly be right!.. hahaha

But THANKYOU for that!.. you made me feel much better. :T :kisses:

Eupho

ianmak wrote: »

Jemima09, your number is: 315.

YAY!! :beer::T