DMP Mutual Support Thread (Part 5)

cocker100

Jemima09 wrote: »

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!!

I'm surprised that CCCS have told you to stay with Barclays.

You say that you have an overdraft with them? Is that the only account?

The problem with staying with the same bank is that they have the power to transfer monies accross your accounts if you fall behind with your repayments.

So if you owe them say £500 on an overdarft in the DMP, they could "drain" your new account of funds to cover it!

Lloyds TSB did that to me with my credit card. They took the payments from my current account as soon as there were funds in the account, making my mortgage payment direct debit bounce. They then slapped on loads of charges and things just snowballed. To cut a long story short, they added over £1200 in extra bank charges before finally defaulting the account.

It really is best if you open an account with absolutely no ties to any of your creditors!

Co-op and Nat West do good basic bank accounts and are popular with people on here. I have a Nat West step account and it as very good with excellent on line banking facilities. I know others have the Co-op one, which is also very good.


Cocker:)

Eupho

I have an overdraft with Barclays.. I keep including it on my *update* here... but actually I haven't even told them of my DMP yet. (they are the only ones I havent told)

I am just waiting to make sure my wages transfer over (in the next few days) to my new account... and not go into there by mistake (JUST missed last months wages, by a day!) I thought leaving that one for now.. without them knowing of my DMP .. might give me the chance to get my moola back OUT if my dafty employers put it into there.

Oh but what I was going to say.. was my ex husband had a business.. and could only have a £500 OD limit..

Guess how much they gave me!!!

Single.. part time working mum of there..

Guess guess!? .. (haha)

£2250 .. WITH an extra £250 'reserve' on top..

madness really.. I have lived IN my OD for the last .. 4yrs? ..

Eupho

and!.. because my bank statements ALWAYS say.. minus one thousand.. or minus two thousand.. I didn't even realise when my employer over paid me by £1000!!..

Until 3mths later they asked me.. and I was saying 'noooo.. of course not!! I would have been straight in to let you know'.

How much of a liar did *I* look when I found it on my bank statement! :o

(and I really DIDNT know!).. :rolleyes:

Eupho

cocker100 wrote: »

I know others have the Co-op one, which is also very good.
Cocker:)

I opened a SMILE account for my 'Main banking' ..
I use the saving account on that to bung money into for 'unexpecteds' .. and I opened and ISA to save towards full and final payments. Those three I can see on the screen at the same time.

Two days after I got accepted for the ISA .. I applied for a Co-Op cash minder account.. (for DMP use/standing orders ONLY)
The chap on the phone said.. noooo.. apply for a current account.. :rolleyes: So I did.. and got refused.. (this was 2 days after getting accepted for the ISA).. haha.

Anyhoo.. I have since applied for what I wanted in the first place.. a Co-Op Cash Minder account.

So that's 4 accounts.. 1 for main banking.. 1 for saving.. 1 for saving for F&Fs.. and one ONLY to pay money into and to have the standing orders go to my DMP Creditor payments.

Eerrrrmm.. I'll shut up now. hahah!

cocker100

Eupho wrote: »

: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:

If you are tackling your creditors on your own and doing a self managed DMP, then you must be far cleverer than you give yourself credit for! :beer::TI have considered doing it, but find it a very daunting challenge. Plus, I would struggle to find the time being at work during the day.

I find it very funny reading through your posts when I get home. The thread has moved on a couple of pages most days and I expect to find lots of unanswered questions, but you always have it covered!:T

I love your use of all the little men........;)

:rotfl::T:beer::j:rolleyes::D;):p:D:cool:

Right, off to bed now,

Night night,

Cocker:)

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

Jemima09

cocker100 wrote: »

I'm surprised that CCCS have told you to stay with Barclays.

You say that you have an overdraft with them? Is that the only account?

The problem with staying with the same bank is that they have the power to transfer monies accross your accounts if you fall behind with your repayments.

So if you owe them say £500 on an overdarft in the DMP, they could "drain" your new account of funds to cover it!

Lloyds TSB did that to me with my credit card. They took the payments from my current account as soon as there were funds in the account, making my mortgage payment direct debit bounce. They then slapped on loads of charges and things just snowballed. To cut a long story short, they added over £1200 in extra bank charges before finally defaulting the account.

It really is best if you open an account with absolutely no ties to any of your creditors!

Co-op and Nat West do good basic bank accounts and are popular with people on here. I have a Nat West step account and it as very good with excellent on line banking facilities. I know others have the Co-op one, which is also very good.


Cocker:)

Hi, yes it's in the welcome pack "If you currently bank with Barclays they will be happy to continue to offer you banking facilities as long as you are a DMP client with CCCS".

From what I gather, barclays are one of the few who do not offset the two accounts. the lady I spoke to said they definitely wouldn't take it out of my new account to put in the old.

And to be fair, the old one will be much more in control than when I was running it, someone will be paying it off for a start.. I've just been adding to it all this time!

But I'll keep my eye on it. any sign of mischief and I'll move away fast!

Only the one account with them, it's my overdraft, started as a student overdraft, it's just a normal current account with OD now. My credit cards/loan are with other providers.

That's awful what Lloyds did with the charges! At least this is just the overdraft, so there isn't technically any "late" fees, as long as I (CCCS) pay in enough each month to cover any interest fees, then I won't creep back into the reserve.

Jemima09

Eupho wrote: »

and!.. because my bank statements ALWAYS say.. minus one thousand.. or minus two thousand.. I didn't even realise when my employer over paid me by £1000!!..

Until 3mths later they asked me.. and I was saying 'noooo.. of course not!! I would have been straight in to let you know'.

How much of a liar did *I* look when I found it on my bank statement! :o

(and I really DIDNT know!).. :rolleyes:

This is exactly why I struggle with realising how much I'm spending... because it's ALWAYS negative!!!

Plus, when you draw up a budget, and you realise straight off you can't afford to pay all your min payments, let alone food/petrol etc.. then of course there's no real incentive to stick to the budget... it's not like you can get to the end and go "yay, made it, 36p left!"

I can do that now I'll have PLUS numbers AND 36p left. (well, hopefully a little more than that, but the theory stays!)

Eupho

cocker100 wrote: »

If you are tackling your creditors on your own and doing a self managed DMP, then you must be far cleverer than you give yourself credit for!

Ah-ha!!.. Thats where you are wrong.

I DID try to go with Payplan.. but I didn't have enough surplus..
So actually.. I didnt have a lot of choice.. well, I did tweak my SOA .. (got rid of some things) and made sure I GOT enough surplus... But by then (after reading so much here) I thought I may as well just do it myself.

How hard can it be?? .. :: gulps ::

haha!.... Anyway.. I do have the time, I only work part time.. and my teens think I am not cool enough to be around.. :rolleyes::rolleyes: .. I dont need much sleep.. so it leaves me a lot of spare time to do it. Plus I love to read.. and talk..(can you tell??)

anyway.. :rolleyes::rotfl:

have a lovely sleep! :wave: :wave:

Jemima09

Eupho wrote: »

and my teens think I am not cool enough to be around.. :rolleyes::rolleyes: ..

awww that can't be true!!! bless

I should be asleep.. work in the morning and all.. I don't like stopping and going to bed though. I think I should really have an afternoon/evening job, so I can stay up all night, sleep in the morning and get up later. I'd be much better at that.

Eupho

Jemima09 wrote: »

Hi, yes it's in the welcome pack "If you currently bank with Barclays they will be happy to continue to offer you banking facilities as long as you are a DMP client with CCCS".

From what I gather, barclays are one of the few who do not offset the two accounts. .

Hmm counts me out then..
That great if thats the case tho :T

I love Barclays. .. they have always been GREAT to me. I hate to be leaving them really..

One day.. (after I pay them back the £2250 quid I owe them .. I hope they will have me back.. :: sniffs ::