DMP Mutual Support Thread (Part 6)

Yippee31

Thanks Eupho, would be brill to fast forward 6 weeks but I am sure I will be just fine and dandy. I haaaaaaaaaaaaaate having to tell people when relationships are over. Might just do a mailshot to everyone on my crimbo card list lol.

newlywed

newlywed wrote: »

Just a little update about my reduced DMP payment for this month (been on DMP 2 years).....

Rang mint credit card - they didn't want a reason, they said as long as they get some sort of payment from CCCS then it is fine - and all should carry on after that with no problem. So yeah - they really don't care

Got mint loans and cl finance to ring. Secure messaged First direct as they were the stroppy ones previously :rolleyes:

Mint loans were fine (other than wanting to know my bank details of the bank I had when I set up the loan - er it's closed coz of the DMP!) they didn't ask any reason for reduced payment.

CL finance wanted to know the reason so I told them. And they wanted to know the exact payment I was going to make - which I don't know coz CCCS work it all out pro rata :rolleyes: Anyway, they've noted on my account it's a one-off.

Yippee31

Arrrr newlywed! Member number 32!!! Blimey!! Have you got any advice for someone starting out on a DMP?

newlywed

Yippee31 wrote: »

Arrrr newlywed! Member number 32!!! Blimey!! Have you got any advice for someone starting out on a DMP?

Yeah I feel a bit like an old git sometimes It's just over two years so shows how much this thread has grown.

The first payment you make to your DMP you will feel about 20stone lighter, like a huge weight has been lifted, and it'll be a huge relief.

Basically, go with the flow a little. It usually takes a few months for them to stop interest and charges. That does mean that for a few months your debt goes up (as they are charging interest and you are paying less) so just be prepared for that.

After 4 months all mine had accepted and that's when the debt started to drop.

It's not an easy road on a DMP as you do have to learn to budget (still learning :rolleyes:) and save for things like MOT etc. But if you get stuck CCCS are lovely and don't seem to mind if you sob down the phone ah-hem.

Your DMP payment isn't set in stone so if you're struggling to pay bills and sure it's not that you're spending on stupid things - then ask CCCS for a review. They do them after your first few months, and then yearly after that, but you can ask for a review any time.

And my only single regret about my DMP.... is that I didn't cut up the credit cards and do it earlier - years earlier :rolleyes:

newlywed

Oh... and if the creditors threaten stuff - like defaults etc - don't get in a panic - come on here and ask if what they say is true

A Default is ok - it's just a black mark on an already mucky credit rating. And the sooner it comes the better as it stays for 6 years from the date of the default (not the date you finish paying ). It also often means they will stop interest and charges too

Yippee31

Thanks newlywed. I think I am going to have to get a petty cash tin and just do everything in cash, I can't be trusted with plastic! I have already sobbed to CCCS once lol! Might have that as my signature - how many times I have called them/ how many times I have sobbed! So far 1/1!!!

Yippee31

newlywed wrote: »

Oh... and if the creditors threaten stuff - like defaults etc - don't get in a panic - come on here and ask if what they say is true

They can't just send bailiffs in - they need a CCJ first.A Default is ok - it's just a black mark on an already mucky credit rating. And the sooner it comes the better as it stays for 6 years from the date of the default (not the date you finish paying ). It also often means they will stop interest and charges too

Soooooooooo, if I am going to be on a DMP for 8 years and the defaults last 6 years then when I finish the DMP everything will be normal and boring? I am NEVER going to get into debt again but I do worry about things like telephone/ broadband people and landlords credit checking me.

newlywed

Yeah I've only done it once - but I set up the DMP online as I knew I'd do it to start with, so managed to last a year before I sobbed on the phone :rolleyes:

newlywed

Yippee31 wrote: »

Soooooooooo, if I am going to be on a DMP for 8 years and the defaults last 6 years then when I finish the DMP everything will be normal and boring? I am NEVER going to get into debt again but I do worry about things like telephone/ broadband people and landlords credit checking me.

If they all default you at the start then, pretty much yes.

Having said that though - not all defaulted me.

So Mint loan and credit card - 2 defaults - should clear off my report about 1 year after I finish paying.

First Direct - still charging 1% above base rate interest - but credit report is squeaky clean looking. They could still default me later if they wanted to - though unlikely if I carry on paying.

CL finance - noted as Arrangement to pay - DMP and a late marker for every single month since. I'm a guessing that's going to carry on till I pay it all off, and therefore show up for 6 years after that - but it's still not as bad as showing as an IVA or bankruptcy. They could still default me later if they wanted to.

newlywed

Since the start of the DMP I have made a one-off reduced payment (after about a year) for MOT costs.

Then about 6 months later asked for a review and reduced my DMP payments (due to costs, bills etc rising and wages staying the same).

All of that has been fine - one slight grumble from First Direct but they soon shut up when I said go on default me and stop all interest then .

I'm just making another one-off reduced payment this month and will see how that one goes.


A DMP is meant to allow you enough money to live - although not in luxury - and pay your bills. The remainder goes to your debts. That's the order it should come in. Though obviously the more you pay, the quicker to pay it all off