Rock Bottom Please Help

Louise82_2

Thanks very much for your reply. What happened after your telephone call? What was the next step do they then write to all your creditors? Do i then have to write to them myself also and send them token payment and say i am setting up a dmp? Sorry again for so many questions. Did the creditors hound u much at the start?

RAS

Loiuse

if you do not move your bank account there is a risk that the bank will take your income and immediately use that to offset your debts to them elsewhere, leaving you nothing to live off for a whole month.

You need to read the terms and conditions and to clarify if Santander can use income to one licencee to offset debts to another licencee. You may need some specific advice on this

worried_jim

louise, payplan took care of everything- when a creditor called I just advised them I was with pp and offered my case reference number, all my creditors "cheered up" as soon as I told them this and have had no problems since, just make sure that you are 100% honest with them, they will not judge and have heard of situations far worse than your own. you are doing the best thing .

worried_jim

Have you got a date for your next telephone meeting yet ? How are things progressing ?

Louise82_2

Hi jim i have my appointment today at 2 pm. Im takin an hr off work and tellin them i have to go to dentist cos i really want to get the ball rolling asap. Im very very nervous about it cos i keep panicking in case they say im not right for the dmp. I just want to know i can get on it and give them a date for my first payment and then il know where i stand and i can start puttin me money away each week for it and then at least i could wait on the post to get my reference no etc so could start sending out my letters and token payments to creditors and have all my statements ready to post to payplan to get going. So so nervous about this call really because of the fact that i have one loan with First Trust bank in NI but i simply cannot include it on dmp as my mother is guarantor and theres no way shes in a position to pay it nor would i let her. Im wondering will they let me leave this out of dmp and continue to pay it as though its unsecured at the same time it isnt as its my mothers name also if u understand. Can anyone advise

Louise82_2

Hi everyone just thought i would update u all. Had my financial assessment with payplan yesterday. It was totally fine and i was worried for nothing. the lady i spoke to was so so nice and put me at ease. We went through everything and i explained about my mother guaranteein the loan and she said it cant be included which was fine i will continue to pay it every week anyway. She told me though that for me to start i needed a surplus of 200 every month , i had thought previously it was 100 but maybe it goes up due to level of debt. Anyway i was over the moon with the 200 a month cos thats wat i thot i cud afford anyway. She said though what will maybe work in my favour is that im actually under the government guidelines as to the amount i have free to live on every wk. To me though its fine, it isnt luxurious but il be happy with it. So im hopin my creditors dont get too angry when they see im already living on little , maybe they take pity on me lol. Anyway she gave me my reference no so im goin to send letters this week to all my creditors with my payplan reference no and send the token amount and im then to send her back the authority and take the standing order to the banK as we have agreed my first payment is to come out the 9th April. So it seems to be all systems go. I havnt felt this content in ages and while im still worried about whats gona happen and what the creditors are going to say at least i know im doing something about it and that hopefully my debt will be going down every month.

beanielou

Glad that it all went so well for you.
Keep posting!