Anyone organising their own DMP?

very_silly_and_scared

Oh I am SO irritated... I just wrote a really long reply then my computer crashed!

Hi all, just thought I would add my experiences here...

I have been doing my own DMP since last August after loads of advice from here and advice/factsheets/template letters from CCCS and National Debtline. It has been tough going at times and you certainly have to stand firm but I don't regret going it alone for one second.

I decided to do my own for 2 reasons, the first that I had a very irregular second income from a sometimes hourly paid job and the second (and more important) I just wanted a bit more control over things and to know exactly what was going on and when.

I wouldn't say it's been plain sailing but most of the issues/problems I have encountered are the same as those on CCCS/payplan DMPs (endless phonecalls/threats/refusals to freeze interest/nasty letters etc). I have also had 'we can't freeze interest/accept reduced payments without a payplan number' or 'there is no such thing as a DMP if you don't use one of the companies' RUBBISH RUBBISH RUBBISH!!!

I started off with template letters from CCCS and ever since I have stated to my creditors that I took initial advice from them and ND but decided to manage my situation alone.

The biggest problem is that EVERY creditor writes to you as if they have never received your letter in the first place so you really MUST (especially if going it alone) send everything recorded delivery and keep the proof of posting as well as a copy of what you sent.

You also MUST keep everything they send you and if you do choose to talk to them on the phone I would really advise that you MUST make a note of the date and time of the call and who you spoke to and write a little summary of what you discuss. I got my fingers burned not doing this last one... And don't forget you can write a letter insisting that they not call you. It works and they have to stop.

I have a separate file for correspondence to/from every creditor which is useful for keeping everything organised.

Again, it hasn't been plain sailing and the first few months were definitely worst. Only this month have Egg agreed to freeze interest and MBNA only did in December after lots and lots of hassle including some very unpleasant phone calls. The only one who appeared to be helpful were
Co-op who wrote agreeing to freeze interest and then in December defaulted me without telling me- the first I heard of it was a letter from the company they sold my debt to! The ethical bank HAHA! It was the smallest debt too- £500.

I don't think any of this is unusual and unique to doing it yourself though and happens to people via CCCS and payplan too.

You just have to be firm and stay confident, know your legal position and what they can and can't make you do (and they can't make you do much- especially pay back what you can't afford). I would say to read up on it as much as possible and don't forget that CCCS and ND are there to offer advice at any time. ND in particular have been excellent all along.

I hope that helps. It isn't meant to put you off going it alone. Like I said, I have never regretted it and am really gald I did it. You also don't really feel like you are going it alone with all the help and advice on here and all the help you can get elsewhere.

I feel so much better and so much happier and confident since I started my DMP (I am single and the stress of all my debts was horrendous as I didn't feel I could tell anyone- the cat didn't seem that interested :rotfl: Though in fairness she has done her bit to cut costs and happily eats Asda own brand these days rather than IAMS).

Please let me know if there is any help or advice I can give you including links to template letters or copies of anything I have used or sent and do use the DMP support thread too.

Phew! That was a long one... like I said, if i can help, just ask...

very_silly_and_scared

Let me just add one thing to the above about phone calls as I think I may have souonded more negative than I intended to...

I am not saying that you shouldn't talk to your creditors or that you should ignore them. I actually phone mine and speak to them but they can't phone me (they write saying 'please phone us'). I have found that they're pretty reasonable on the phone (some more than others) but at least this way you're prepared for what you want to say to them and not terrified of the phone ringing from a number you don't know then being put on the spot if you do answer without knowing what they want....

And if it's anything important, (like an offer of a reduced settlement or agreement to freeze interest) always ask for it in writing too

very_silly_and_scared

boo80 wrote: »

Yay - go Lois! I don't think thats true about creditors being less likely to go for it if you haven't missed a payment, I did worry about this (I'd been late on 2 payments but had never missed one) but when I spoke to mbna and cap1 they both said there shouldn't be a problem with it as I've always been a good customer (I should think so the amount of ££ they've had out of me over the years lol) Good luck Lois, keep us updated. x

One more, and then I promise I will stop dominating the thread. It's not true that they won't accept reduced payments if you have never missed one. I hadn't missed any but the minimums were absolutely crippling me. Just keep sending the payments you can afford and be firm and you will be fine...

Numpty_Monkey

A quick tip, VSS not to do DMP's

If you are going to do long post , do it in a Word Proccesor type program
(MSE type tip Open Office is free:D and it has a recovery thing)
and copy and paste into the reply box:T

Lois_and_CK

"I have also had 'we can't freeze interest/accept reduced payments without a payplan number' or 'there is no such thing as a DMP if you don't use one of the companies' RUBBISH RUBBISH RUBBISH!!!"



Thank you, vsands, what great advice. Can I ask, what did you respond with when you got told they couldn't freeze interest/accept reduced payments without a payplan number?

very_silly_and_scared

Lois_and_CK wrote: »

Thank you, vsands, what great advice. Can I ask, what did you respond with when you got told they couldn't freeze interest/accept reduced payments without a payplan number?

I told the woman on the phone that I knew that wasn't correct and that perhaps she was mixed up about her company's policy (that's another thing they say 'it may have happened with another firm but this company's policy is different'). When she insisted that it was I really politely asked her to put it in writing to me which of course never happened.

They never WRITE that they can't freeze/reduce without a number, it's something they only say on the phone. Another ploy to make us panic and pay more than we can afford.

scruffypet

I have been trying to deal with my creditors since december 2008, most have agreed to payment plans but they all seem to want different levels of payment and I am getting very frustrated with repeating myself on the phone. And just when I feel that it is all falling into place, one of the creditors suddenly wants to change the paments. |Also has anyone had problems with Freemans catalgue, they just refuse to accept any offer i make. I would appreciate any suggestions from fellow forum members

very_silly_and_scared

The best advice I can give is to use the SOA from the CCCS website (or similar) and working out your total debt and total available income make offers of pro rata payments. Send them all the SOA with all creditors listed and the amounts so they can all see they're being treated 'equally' and then stick to that despite what they all demand via phone.

If you have done that, what I did was send it again recorded delivery then each time you talk on phone (if you choose to) keep referring them to the SOA and the fact that you're paying all creditors equally and as they can see have no money to pay anymore. Hope that helps.

On the phone they refuse offers. Do it in writing with the SOA.

No experience with Freemans sorry, but if you do the above they (and everyone else) will have to settle for what you can afford eventually. Just stick to your guns...

cheesedoffwithdebt

HI this is all very interesting- I am with Payplan and get increasingly frustrated with them- one minute they tell me one thing and another minute they say something else.
I organised my own repayment plan with First Direct, and feel inclined to gradually take over managing the lot- as the other posts say, if you co-operate and are in regular contact it's just the same job that the DMP companies do.

CornishMaid

I started my own DMP a couple of months ago and it's the best thing I've ever done. I considered going with CCCS/Payplan but I didn't really like the idea of someone else taking control of my finances. I was told by some companies that they won't accept self-managed DMPs but I am standing firm and they are beginning to come round. I have now have 50% of creditors on side, and this was after an initial 100% refusal rate!
It does take a lot of time and effort but it is also very satisfactory when you achieve a good result! I would highly recommend a self-managed DMP