DMP Mutual Support Thread (Part 6)

trying_to_stay_positive_2

jles49 wrote: »

just started dmp creditors rbs, egg, capital one and barclaycard who is likely to agree to this

Just made my 2nd payments so still quite new myself ... egg have been no problem, terminated the account and stopped interest ect, capital one the same. I have 2 barclaycard account - 1 used to be morgan stanley but barclays bought them out, one account has accepted but not stopped intrest yet, but stoppped the late fees and the other account say they havent heard anything from cccs?? got a friendly call from mercers today( lucky I read this site and knew what to expect ... no extra payments from me!) , they came out with all the claptrap I was expecting ... it was quite funny :rotfl:

jles49

St0lli wrote: »

Hi all :hello:

I haven't posted on this thread for a while but just wanted to say hi to all those who are starting their DMP's soon and to assure you that you are all doing the right thing! I had exactly the same concerns as most of you ie phone calls, letters, defaults etc but I can officially confirm that (for me anyway) that the fear of the unknown is far greater than what actually happens. I'm just going into my 3rd month of DMP payments and yes I've had the phone calls (got caller id so have not answered ONE call from any of them), I've had letters and only today I had a lovely postcard from MBNA :rotfl:

As long as you follow the GREAT advice on here and come back when you have any queries I am sure everything will be fine. Thanks to this forum I've sorted out my SOA and made great savings on insurance, phone etc. I've claimed back nearly £1k from CC charges which will reduce my outstanding balances and best of all... I am beginning to really enjoy my life without having to worry how I'm going to juggle my money each month.

So for anyone hesitating I would just say GO FOR IT! I've certainly got no regrets.

PS the postcard from MBNA I received today was very crafty....
It said:
St0li
I confirm that I will be calling you week commencing 01/06/2009.
If inconvenient please call 01244629946 extn 13090. Ref: Book C
Surprise surprise... I haven't phoned them!

just startedmp and worried about phonecalls

trying_to_stay_positive_2

I was also really worried about phone calls to work, deleted all the work numbers I could from online accounts, but wasnt really sure if they would still have it on their records somewhere! I have been doing something that most dont advise on this site ... answering my calls at home!!! I have found that once they have spoken to you about the situation they stop calling (apart from Barclays), my theory, although it may be wrong, is they only call you at work as a last resort, ie called all the other numbers they have without sucess. I must admit the first few calls were daunting .. but you get quite good at them after a few. I haw actually come off the phone feeling better knowing where I stand with my creditors rather than guessing. I know its not for everyone , but its worked for me

lemoncheesecake

Hi all,

Hope it's ok if I join this thread. Mr Lemon and I have started a DMP last month with payplan. So far payplan have been excellent, although I paid a token payment for all my creditors through payplan and they have yet to pay it on to my creditors but they have recieved it.

It has been really helpful (if not a little scary) to see all our debts laid out on one page on the justabank site - we owe £9030.24 and our first payment goes out on the 1st August. We are now just waiting to see if the creditors will accept our plan but payplan assure me there's nothing in our budget that is not acceptable.

So far we have had letters from captial one and HFC saying they are going to default out accounts. HSBC credit cards phoned up but Mr Lemon said we were entering a DMP and had sent a token payment and they seemed ok with this and haven't phoned since. The others have been very quiet so far.

I have started a diary with the aim of staying focused and motivated. Anyone is welcome to have a read! Mr Lemon and I are rather impulsive with our purchasing decisions so am hoping people may be able to help us stay on the straight and narrow.

The reason for our debts is mostly living beyond our means and not making the best financial decisions. We were able to make all the minimum payments until my husband had to take a paycut/ reduction in hours at work and loosing that income is what tipped us over th edge and I knew immediately we would be unable to make the repayments.

Our plan is to stick to our budget and build up a contingency of £500 and then start throwing everything extra at the debts. My DH is also looking for another better paid job.

jk8_2

:hello: hi everyone
Not been posting for a while due to lots of things,illness mainly!.We are starting our DMP on 1st august with CCCS.Just got 2 letters from MBNA (both husband and I had cards)accepting our DMP and freezing interest/charges:j.So 2 down,10 to go!.Most have sent default of sums letters and I have seen statements so know they have had the DMP notification,but they havent acknowledged it!.
Hope everyone is doing ok-it seems there is light at the end of the tunnel.
jk8

pinkpower

Well the forms arrived from CCCS this morning, so I will spend the weekend gathering the information together. It's really daunting but I keep telling myself that at least I'm tackling the problem.

A couple of questions - one do creditors that you have a loan with tend to react differently to card companies? Also I bank with HSBC, but that account is within its OD lmit, which I don't always use, so from the point of view of having money grabbed from the account by HSBC I'm not worried. However my main creditor is M&S who I know are owned by HSBC - should I open a safe bank account or do you think I will be OK to leave that as it stands?
Thanks.

Oh one more thing, in all honesty this is all my own fault and brought about by not budgeting preperly and always under-estimating how much I was spending. It was compounded by my employer discovering they had been overpaying me about 15 months ago, and stopping that and recovering the over payment (I don't have a problem with that). Is over-extending a valid reason for the template letters?

Thanks again PP

St0lli

Hi PP, good luck with completing your forms. It is daunting to start with but once you get into the flow it won't take that long (I know, I have lots of creditors!).

I put over commitment as my reason for doing a Dmp and it wasn't queried by any of them. I think of all my creditors there are only 2 or 3 who haven't stopped charges or interest - those are Halifax CC, Lloyds TSB CC and one other I can't remember at the moment.

Good luck!

massivedebts

Hi PinkPower
M&S one of our biggest by way of a loan. They were one of the first to say Yes to our offer for 12 months! Don't see that the a/c with HSBC should have any connection with M&S.......having said that HSBC are nasty, so might not out anything past them!!
With regards to the template letters, I assume you mean the letter that advises you are setting up DMP? We just put over-commited on finance.
Enjoy the sunshine!
Take care fellow dmp'ers
MD xx

massivedebts

Hi StOlli
Looks like we crossed on our posts. Nice to hear from you, and glad all seems to be going well!
MD xx

pinkpower

Thanks Massivedebts and StOlli.