DMP Mutual Support Thread (Part 5)

msc1977

dlb wrote: »

Just to cover a few points brought up today on the thread.

I did keep 2 creditors out of my dmp when i first started 3 years ago...but wished i hadnt have done so as had to pay them off from my allowed budget which then left us short elsewhere. Not a good idea when your trying to get use to a new budget!

As for keeping a credit card...my personal feeling on this is no way...you have to be serious about clearing your debts and having available credit laying around is just to tempting.
I cut up all my cards as soon as i went on dmp and no longer have a cheque book..im cash only girly all the time now and this is how it will continue...my moto if i havent got the cash then ill have to wait...this would include if the car needed repairing ect, but thats what you need to have an emergency fund for..even if its just a few quid a week to put in the pot, then you soon wont have to worry about unforseen emergencys.

Same for xmas/birthdays/hoildays..money put to one side each month so no need for credit.

You reviews are just to go over you finiancal statment and check nothing has changed and if you are managing ok on the budget, they are there to help and up and down your payments as required.
YOU SHOULD NEVER HAVE TO STRUGGLE ON A DMP..IF YOU ARE ASK FOR A REVIEW EARLY! You should be able to pay all priority bills and shopping ect ect without worry if you can afford to do so, this is the whole point of the dmp...it has to be set up at the right figure each month for yourself or it wont work.

You should notice a huge different in the way you see things, i now know the difference between WANT and NEED, and love budgeting ahead to see if i can make any savings no matter how small they be.

Be back later
Donna
x

Thanks for the extra info Donna - i think i am now seriously reconsidering keeping the c/c. I dont think i really understood that if we had a car bill / vet bill etc we may be able to work around this with CCCS i just assume it had to come from our emergency fund and once that ran dry my concern was how do you build it back up again on a budget that is essentially quite strict? Hence the thought behind keeping the card. I now realise that there are ways and means and i think maybe this card should go the same way as the others.....

msc1977

NEWLIFE_WANNABE wrote: »

They asked me for my reference number, which I gave them, and said that if payment was not received by the 23rd of this month then the account would automatically default and be passed on to a DCA. Don't know if this is a good thing or not?

My understanding is that the sooner they default the better and that DCA's tend to be more understanding and flexible. They will get another token payment from me at the end of Feb/Beg of March .......i have to say that i truly expected they would call again at some point this afternoon/evening but they havent. Perhaps the lady i spoke to was true to her word and removed our contact numbers...i hope so.

ianmak

As mentioned above, I think the DMP companies frown upon keeping a C/C spare, and as for your creditors, they would be rather upset too. Having said that, I had a C/C with Barclaycard that I didn't include as there was no debt on there, just a 300 quid limit. They closed it shortly after as I hadn't used it in a year. Keeping a card for emergencies is how I got into this mess, and also, if you did use it to pay say £300 car repairs, how would you pay it back along with all your other outgoings?

4 months(ish) of DMP payments has taught me to budget, though the first couple of months were spent paying back family etc, and I haven't had too many unforeseen problems come up as yet... you just have to learn to survive, like in the olden days!

marfan_not_martian

massivedebts wrote: »

Good evening everyone,
Just thought I'd check in and say thanks to everyone who has given me advice, especially DLB and MNM, I can see I'm gonna need you guys ALOT to see me through this tough time! - thank you xx
Anyway, I'm feeling quite positive at the moment, so thought I'd post an upbeat note, so that you didn't think I'm miserable all the time! LOL. Having said all that, I'll probably be in tears again tomorrow, isn't this debt lark draining!
Take care all of you, and I'll post soon.

Thanks for the kind words massivedebts.

Things will get easier and yes you will have down days but believe me they do improve. I have gone from not sleeping properly since, gosh I dont know when it started actually to now having a good nights sleep nearly every night. I know that creditors are gonna hassle me but I am not afraid anymore - I cannot give them what I havent got.

Take care massivedebts and remember we are all here to support each other, so whether you are having a good day or a bad one - talking on here sure helps so feel free to share with us your pains as well as your joys.

MNM xx

2spicy

NEWLIFE_WANNABE wrote: »

Good luck with Egg...After ignoring the phone most evenings for the last week and then 1471ing I received a phone call from them (Egg) last night after sending them a token payment on the 29th January and a letter informing them that I was setting up a DMP with CCCS. They told me that they needed a credit card payment immediately to bring the account up to date. (I already have had two letters off them asking me to set up a new DD). I explained that this would not be happening, that I was setting up a DMP with CCCS and that I had sent a token payment to them for the February payment. They asked me for my reference number, which I gave them, and said that if payment was not received by the 23rd of this month then the account would automatically default and be passed on to a DCA. Don't know if this is a good thing or not?

Egg said exactly the same to me.
then theu defaulted teh account the next day . RESULT.
Now im trying to get them to accept a one off payment of 50% of the total debt as Full and final. so far, 2 letters sent and nothing recieved

dlb

2spicy wrote: »

Egg said exactly the same to me.
then theu defaulted teh account the next day . RESULT.
Now im trying to get them to accept a one off payment of 50% of the total debt as Full and final. so far, 2 letters sent and nothing recieved

Why dont you ring them an make the offer over the phone, then oviously they have to put it in writing before you pay..but at least that way you will have an answer.
3 of my creditors have offered me full and finals over the phone when iv spoken to them, and have told me to ring them with an offer if im ever in a postion to do so.
May be worth try..they can only say no or yes. No harm done if they say no and amazing result if they say yes.

2spicy

cheers .. will give them a call and see if they will accept that once the post has been this morning.

marfan_not_martian

Good Morning everyone :j

Hope you are all ok

dlb

Morning!!!
Snowed in here, 2 out of the 4 kids at home doing my head in already!!!!!
But im about to do my fav job of the day and check the bank and make sure budget is still on track this week.....im soooooooo flipping sad!!!! LOL
Donna
xxx

msc1977

Morning - I know what you mean dlb about the kids!!! I'm hoping to have a no spend day here, i'm still off work, school is closed and its too cold to go out and defrost the car to go anywhere so we're snuggled in watching TV with the plan to bake cakes later!

On the DMP front i've had two emails from egg via 'my account' demanding i make loan and cc payments immediately.....LOL that gave me a laugh this morning! All but three of my £1 cheques have been cashed, and as yet no further phone calls. Still undecided about the c/c, hubby thinks we should keep it ...i'm not so sure...its only in my name so its not like he can use it so i'm debating giving it to our friend who is the only person who knows about the DMP....still not sure...... hope you all have a good day. x