Icecube2009's Diary

icecube2009

OK, After burying my head in the sand for way too long I decided a couple of months ago that something needed to be done about our huge mounting debts!

Had been reading this message board for ages, and had posted for advice but it always seemed easier to just forget about it again!

Then 2 months ago found out that the debt that I thought was approx £30, was actually nearer £50, DH had 2 credit cards that I didnt know about, and with odd bits like 3 overdrafts, my Next directory etc it mounted up to £49k!

Spoke to DH who said 'we are ok, we can cope' but found out he was borrowing from one car to pay another, and I was using all my available chas each month to pay my cards then using the cards again to live.

I talked DH round & we have now started a DMP with the CCCS, first payment due June, £411, should be debt free (if all interest etc stopped) in ten years!

Thought I would start this diary to keep other people updated, and also so I can follow my own progress!!

icecube2009

Right we have 11 debts!

we have sent the letters & £1 token payments to all 11, Natwest have heard from the CCCS & accepted the DMP & stopped interest etc. to thats great news! 1 down 10 to go!!!

Egg (2 cards & a loan) have sent default notices (not sure if thats good or bad, but assume its a move in the right direction?)

LLoyds are still pestering daily, and next directory have sent a letter saying they are 'looking into my query'

Will keep you posted!!

icecube2009

Meant to add, although I am terrified about going through with all this, it does feel like a weight has been lifted money wise, we changed to a new bank account & have started a fresh, i actually have cash available to use when I go shopping which is lovely, i use to feel like everyone was looking when I took my credit card out to pay!! (silly I know!).

Having a few problems with DH though, it is mainly due to his spending habits that we ended up like this & although he has said he will stop, I have checked the account & found in the past month hehas spent £50 on wine, £20 on DVD's & £50 on a new electric razor! this has resulted in a huge argument, so we arent talking at the moment, and he is currently looking for things to list on ebay to cover what he has spent, as I have told him otherwise we may not be able to eat when it gets near the end of the month....wish me luck!!

Jemima09

Hi Icecube, hope you don't mind me posting here. I searched for CCCS and your post came up.
I've just sent my details through to CCCS this week, in the hope that they will start me up on a DMP (which is what their online service recommended).
I wondered how you had got on with Egg, before your DMP kicked in, as you mentioned in your first post that you were debt shuffling rather than not paying..
I have a loan with Egg, as well as cards with other suppliers and to date I've not missed a payment with them, so I'm slightly concerned they're not going to accept the DMP, but having looked at my SOA my issue is that I can't afford the min payments on everything (overcommitted), and egg are just fortunate their DD goes on the 1st, after payday!
Any ideas?
If you don't mind, who are your other creditors? I have cards with Virgin (MBNA) - although v small and could be moved or possibly paid off before the DMP starts, Mint, Cap1 and Sainsbury. Are any of those people that you've had to deal with?

I hope everything has started off smoothly for you. I feel better having started the ball rolling, I just have to hope it all goes through!

Ta for your help

savingholmes

Hi Icecube well done on making a start. Glad you are with CCCS and they have agreed a dmp. Strong suggestion - Cut your OH's cards up (preferably get him to) I think - only use cash - draw a set amount out - and only use that... Divide what you need into different envelopes / tubs and break the card addiction! Draw it out weekly and don't go back for more... (perhaps have a £20 emergency pot)

icecube2009

Jemima09 wrote: »

Hi Icecube, hope you don't mind me posting here. I searched for CCCS and your post came up.
I wondered how you had got on with Egg, before your DMP kicked in, as you mentioned in your first post that you were debt shuffling rather than not paying..
I have a loan with Egg, as well as cards with other suppliers and to date I've not missed a payment with them, so I'm slightly concerned they're not going to accept the DMP, but having looked at my SOA my issue is that I can't afford the min payments on everything (overcommitted), and egg are just fortunate their DD goes on the 1st, after payday!
Any ideas?
If you don't mind, who are your other creditors? I have cards with Virgin (MBNA) - although v small and could be moved or possibly paid off before the DMP starts, Mint, Cap1 and Sainsbury. Are any of those people that you've had to deal with?

I hope everything has started off smoothly for you. I feel better having started the ball rolling, I just have to hope it all goes through!

Ta for your help

Hi

I have a Loan & Credit Card with Egg & DH has a loan, they have pestered a lot, loads of emails, and phone calls. In the end we spoke to them & told them the situation & the woman on the phone was very nice, said dont worry about it, we will default you, you will get a letter stating this, but ignore it, and we will pass your debt to a debt collector, but dont worry about any of it, its all just standard procedure' she didnt actually say they accet the DMP's though.
WE have had the Default letters & they are still ringing (not as much though) I just dont answer.

I am the same as you, had been borrowing from A to pay B etc. so was up to date with all my payments, same with DH, out of 11 creditors, we have only actually heard from one so far (DH's natwest card) saying they will accept the DMP, but will default us.

We have the 3 egg debts, 2 lloyds Cards, 3 lloyds overdrafts, a natwest card, natwest overdraft & next directory account. I do wish now that I had tried to pay off the smaller debts, i.e. the next account (£700) and the overdrafts (£700, £750, £600 & £250) DH wanted to at least pay the next off with one with the credit cards, but I thought this may go against us.

Good luck with yours, our first DMP payment is June 1st, hoping to hear from a few more today as they must all have had their letters from CCCS by now!

icecube2009

savingholmes wrote: »

Hi Icecube well done on making a start. Glad you are with CCCS and they have agreed a dmp. Strong suggestion - Cut your OH's cards up (preferably get him to) I think - only use cash - draw a set amount out - and only use that... Divide what you need into different envelopes / tubs and break the card addiction! Draw it out weekly and don't go back for more... (perhaps have a £20 emergency pot)

I have had words with DH over this weekend, as well as making lots of comments like 'thats if we can afford to eat next week' so hopefully he will get the message, if not I will have to take more drastic measures!

What really hurts is not so much the fact that he is spending it, but that I am trying so hard, I need new work shoes, but am waiting till i have sold enough on ebay to buy them, I struggle to stick to my budget with food shopping, but I manage it, am also ebaying to save for birthdays christmas etc, yet he has just wasted over £100 in 4 weeks!!
Thanks

icecube2009

OK postman just been, 2 letters from natWest -

One for me saying they are going to accept my reduced payments for a limited period, but reserve the right to review the level of payments in due course. not sure what will happen then???

the second also from natwest regarding my letter I sent them trying to reclaim bank charges, my overdraft with Natwest is £700, I am trying to reclaim £600 in bank charges which would be great as it would reduce my debt right down, they want me to fill in a 'statement of affairs' but the form they have sent me is rubbish! very badly photocopied & doesnt have space for half the things that are included on the CCCS one, so I am wondering if its OK just to send them a copy of the CCCS one? which they do already have (I assume the CCCS would have sent them one!) but maybe a different department?

Jemima09

That's good to know that you weren't defaulting as much either. That was really worrying me, I mean, my credit rating isn't brilliant, but isn't rock bottom either, because I AM up to date with everything. I'm just getting charged for it constantly!! Missed payments are always a small cash flow issue and always righted after pay day (it's the people who want money later in the month who lose out!)

Well that's a relief.

I was expecting the defaults, I mean, I'll be halving my payments to them! I just hope the telephoning doesn't get too bad. We have an open plan office so I guess I'm just going to have to ignore my mobile and pray I've not given any of them my work number (which I don't think I have, with the exception of barclays, and as they'll be getting MORE than I was paying before (i.e. I won't be overspending!) then technically they've nothing to complain about.

As for your SOA, personally I'd just send the CCCS one, they must recognise the CCCS as an official document, otherwise people wouldn't accept the DMPs based on it.

And what is it with banks and shoddy forms? You'd think they'd be good at that sort of thing?! When I went to change my postal address at my bank, they had a handwritten form, with hand-drawn lines going across the page, not even done with a ruler! Needless to say, when I want advice, I use a different branch!

icecube2009

Jemima09 wrote: »

That's good to know that you weren't defaulting as much either. That was really worrying me, I mean, my credit rating isn't brilliant, but isn't rock bottom either, because I AM up to date with everything. I'm just getting charged for it constantly!! Missed payments are always a small cash flow issue and always righted after pay day (it's the people who want money later in the month who lose out!)

Well that's a relief.

I was expecting the defaults, I mean, I'll be halving my payments to them! I just hope the telephoning doesn't get too bad. We have an open plan office so I guess I'm just going to have to ignore my mobile and pray I've not given any of them my work number (which I don't think I have, with the exception of barclays, and as they'll be getting MORE than I was paying before (i.e. I won't be overspending!) then technically they've nothing to complain about.

As for your SOA, personally I'd just send the CCCS one, they must recognise the CCCS as an official document, otherwise people wouldn't accept the DMPs based on it.

And what is it with banks and shoddy forms? You'd think they'd be good at that sort of thing?! When I went to change my postal address at my bank, they had a handwritten form, with hand-drawn lines going across the page, not even done with a ruler! Needless to say, when I want advice, I use a different branch!

I know what you mean about banks!!!
I think I will be paying about 1/3 of what i should pay, apparently it will take ten years :eek: if they stop all fees & interest!

Just PM'd you, but also wanted to mention on here, its worth logging into on line accounts where possible & seeing if you can change contact details, i.e. take out work numbers, take home number off etc. we managed to change some of ours just to a mobile number, which is always in a drawer on silent!

Jemima09

icecube2009 wrote: »

Just PM'd you, but also wanted to mention on here, its worth logging into on line accounts where possible & seeing if you can change contact details, i.e. take out work numbers, take home number off etc. we managed to change some of ours just to a mobile number, which is always in a drawer on silent!

Cheers, I'll do that. I know I gave my work no it to barclays the other day, but I don't think they'll cause a fuss seeing as I'll be asking them for help with the new account.

I don't usually give my work number to the other companies (from memory anyway), but I will check. I've never like the thought of them calling at work so I usually just provide my mobile.