I've been a silly girl, now I'm worried...

crafty1

I am considering a DMP (when I get my head fully out of the sand) but at the moment still living on credit (minimum payments met every month) i've recently bought a few things on a credit card that would be considered luxuries, when I tell the CC companies that i've started a DMP are they going to get really nasty about the things recently bought?

I know it was a silly thing to do, but advise would be greatly appreciated.

searching_me

hello cant advise on a a DMP but put up your SOA see if we can help x

beanielou

Cant really advise on that but pop up a SOA when you get a mo.

DevonGirl

Hey there Crafty1

Don't feel bad or silly - we've all made mistakes with money, but the fact that you are on this site means that you are beginning to take responsibility of your finances.

With regards to transactions on your credit card, I think you should contact the (free) DMP provider about this. (Don't pay for a DMP!). I had some transactions on my c/cards just before I started my DMP and rang to check with CCCS who advised shouldn't be a problem, but that once you've decided up, and signed up to, a DMP, that's when it's got to stop, otherwise it could be considered fraud (as technically you're buying things without being able to pay for them). Not saying this to worry you, but I can see what CCCS mean. Of course, contact the DMP provider to find out their viewpoint on this.

You don't mention the state of your finances, but maybe put off starting a DMP until you're really sure it's what you want. If you decide it IS, then chances are you won't be starting until June, so April's transactions shouldn't really be an issue.

For me, once I'd done my CCCS Debt Remedy and decided to go ahead with a DMP, the big kitchen scissors came out and I chopped up all my cards so that I couldn't be tempted during the set up preiord!!!! Sooooooo glad I did it though. :j

Hope this helps
DG

crafty1

Thanks I will post my SOA when I get a moment and the courage to look at my bank statements!
I won't use the credit card once I've started the ball rolling!

Jesthar

Hi crafty,

I don't suppose the CC companies will care that much, if at all; I've know banks get shirty over such things (a friend of mine) when overdrafts are exceeded, but as long as you're within your credit limit I wouldn't have though a CC company would be bothered about what you were spending that credit on BEFORE you went on a DMP. Afterwards may be another story! Although, of course, the best thing to do it cut up the cards...

Anyway, if you can meet your minimum payments and other ourgoings, then you may not need a DMP at all - once you post up a full Statement of Affairs (SOA) we can make better suggestions! You can find a link to the SOA calculator in one of the sticky threads at the top of the Debt Free Wannabee forum

~Jes

crafty1

Thanks! I am meeting my minimum payments then using the card for food shopping/petrol etc..i've done the preliminery enquiries on CCCS and a DMP was recommened - my outgoings are more than my incomings

Jesthar

crafty1 wrote: »

Thanks! I am meeting my minimum payments then using the card for food shopping/petrol etc..i've done the preliminery enquiries on CCCS and a DMP was recommened - my outgoings are more than my incomings

Ah, OK - well, once you have you SOA completed we'll see what we can do about your outgoings for you, eh?

crafty1

Thank you - feel better already x

angeldiva

Dont worry about whats on your card, I didnt have to. Dont even mention that you recently spent on it or anything.

Just call Payplan and tell them that you can no longer afford the payments and they will help you.

Cut up your cards and call them today x