DMP Mutual Support Thread (Part 5)

Fullhouse

I'm also wondering, I have a debt with First Direct (loan & OD) which is part of HSBC. My hubby who won't be on the dmp as all debt are in my name has an account at HSBC in his sole name. If I have my wages paid into there can they get at them to offset my debt?

2spicy

HI and welcome. I posted a sample template a a few pages back. not sure if this helps.

Well, FnF offers.. our bank accounts responded and basically have called our bluff. stating that the debt is "non negotiable" and they will recieve their money via the DMP. - oh well. thats £2000 cash in our emergency fund already.

still waiting on Egg and Barclays but its only been a week.
Barclays did respond however and up my credit limit by £4000 which I find amazing as we have defaulted the payment and only sent token payments.
MBNA continue to call having been told the same story for 3 weeks now ( 7 times today according to the Answerphone. Funny thing is as soon as they call my mobiole, I answer!!! )

Weve not taken to baiting MBNA seeing how long we can keep their indian call centre operatives on the phone. current record is 18 minutes

marfan_not_martian

Fullhouse wrote: »

Thanks for that. Reading the posts on here helps as it makes you realise you're not alone. I haven't been in this situation before and I feel really nervous about it all

I know its an anxious time I am just starting my DMP but as other users have said at least we are facing our debts and not just going bankrupt and giving them nowt.

Good luck with your dmp hope all goes well

xx

rcpbiggles

cocker100 wrote: »

Your new bank account shouldn't have an overdraft facility, as you are not allowed any new unsercured credit on a DMP. You only need to set up a basic bank account.
I would contact Barclays and explain that you only require a basic bank account and not a stardard current account.
Banks never offer a basic bank account to people with good credit ratings as appartently it costs them to set it up and they cant claw back any money in interest or charges because there is no overdraft on them. However, in the current financial climate, they are having to open more and more because we are all skint!!!:rotfl:

Cocker:)

Thanks Cocker! I'll go into a branch with all documents

rcpbiggles

We've bitten the bullet! I've been on CCCS website and clicked to enter the DMP (eek). We're now waiting for our pack and need to redirect our salaries etc into a new account (another to do for monday).

So, do you think we should cancel the DD's for our creditors now so we don't make Feb payments or should we wait and try to make the Feb payments, as they won't have had any contact from us/CCCS yet?

I can't wait until it's all in place - I'm hoping my tension headaches will go!

newlywed

First Direct No problem, combined overdraft, loan and credit card into one debt, charge base rate +1% and have been very understanding and helpful throughout.

Glad I'm not the only one they are still charging interest to Mine is 1% above base and they have been fairly nice - no black marks on my credit report from them (although defaults and late payment marks from everyone else so not sure what help that is :rolleyes:)

newlywed

rcpbiggles wrote: »

So, do you think we should cancel the DD's for our creditors now so we don't make Feb payments or should we wait and try to make the Feb payments, as they won't have had any contact from us/CCCS yet?

I think the bigger, more important question is: can you make your feb payments? Do you have enough to cope with that and pay essential bills, rent, gas, electric, food etc?

If no, then just make token payments and send a letter saying you are contacting CCCS for financial advice regarding a DMP and will contact them when you have further details.

That way they know what you are doing and should give you a bit of waiting time for CCCS to sort you out

newlywed

marfan_not_martian wrote: »

I know its an anxious time I am just starting my DMP but as other users have said at least we are facing our debts and not just going bankrupt and giving them nowt.

I agree, I want to pay all my debt off, everything I borrowed. It's just that I needed the interest and charges to stop or else I'd never be able to pay it back

So don't feel too down about it all, you are trying to pay of your debt, you're just asking for a bit of help to be able to do it.

rcpbiggles

newlywed wrote: »

I think the bigger, more important question is: can you make your feb payments? Do you have enough to cope with that and pay essential bills, rent, gas, electric, food etc?

If no, then just make token payments and send a letter saying you are contacting CCCS for financial advice regarding a DMP and will contact them when you have further details.

That way they know what you are doing and should give you a bit of waiting time for CCCS to sort you out

Thank you feel a bit daft not knowing what to do

newlywed

rcpbiggles wrote: »

Thank you feel a bit daft not knowing what to do

Naaah not daft at all. Better to ask and find out than sit and wonder

We've all been there, know what it's like with all the questions and worry