DMP Mutual Support Thread (Part 6)

Gpuk

Evening, I received my pack from Payplan today and there were 2 errors in my DMP they were under on my overdraft debt by £770 and had missed off my Tesco credit card another £1250 , I thought the overall debt looked to low

Anyway will call them tomorrow and sort out and post them the authority thingy and then it's all systems go!:j

pinkpower

Scouselad, two questions, firstly does everyone write to say they have accepted the dmp and frozen interest etc or do you only know from the credit card statements? Also how long does it take for your payment to show up in your CCCS account?

Thanks

JillyOJolly

CASR25 wrote: »

Oh, Becks - that was a lovely post to read - someone in the same situation, right down to going back to work. THANK YOU! :A

When I did the CCCs rememdy thing and it said we could have it all paid off in 5yrs 9mths, I cried. I wonder how realistic that is though - is that the best case senario i.e. that they all agreee to freeze interest etc???

Just worried about my hubby's commision too.

Going to look into changing banks and dd with bills etc.

I see a light at the end of the tunnel!

Change the way you think of money, change the way you spend money and appreciate what small amounts of money can do, the time line is achieveable if you allow it to be and maybe sooner if you give it your all. Its tough at first, but when you start to sleep at night and look at each other and know you are started, then half way, then near the end, then finished you will only then realise that it was the best thing you ever did. Mine took four years out of a predicted 2.5 as I had to reduce payments and had fun with interest, but I got there. My son, who is 11 next week, soon learnt that treats were for payday only and love and committment to family was worth more. He now gets pocket money and tends to save better than I have ever done and appreciates what his money can buy. Your children will be the same.

Good luck

JOJ

JillyOJolly

pinkpower wrote: »

Scouselad, two questions, firstly does everyone write to say they have accepted the dmp and frozen interest etc or do you only know from the credit card statements? Also how long does it take for your payment to show up in your CCCS account?

Thanks

Hi PP,

I never had correspondence from any creditor through payplan of accepting my DMP, I knew when they stopped ringing or writing for 6 months and then asking Payplan for help they then told me "probably because they refused the DMP". They only got what I could give them every month so I just let them call away wasting their time and money calling me!

JOJ

scouselad1974

Hi

some of my creditors did write to accept my DMP, but most didn't, I just received my usual statement asking for the proposed repayment and also showing next months estimated interest as zero.

Some statements still ask for the usual minimum repayment and show the usual interest although they have accepted my DMP and agreed to freeze interest, so don't panic if you receive a similar statement.

My payments are sent by standing order and usually show up after 4/6 days

pinkpower

Thanks I made my 1st payment by bank transfer as I was too late to set up the DD for 1st Sept. I keep checking to amke sure it arrived as I'm a bit worried it is in limboland!! (As its gone from my bank account, I can't do anything but keep my fingers crossed!)

cloudy-day

Hi all, well I plucked up the courage to phone Egg as they are still calling daily, and when I did they were all busy and will call me back in 24-48 hours!

Also called MBNA (A&L) as they had written and asked me to. Spoke to a lovely chap who said that as I can't pay them back within 10 years then they will freeze all charges and interest and pass it to a Debt Collector in 6 months. Oh and I don't have to pay anything in that time!

I said I woul still be sending my monthly payments anyway (the pro-rata amounts) as I really wasn't comfortable paying nothing. I got the spiel about my credit rating and do I want an unsecured loan but still - thats a good result surely? Or am I missing something?

SILLY_SARAH

cloudy-day wrote: »

Also called MBNA (A&L) as they had written and asked me to. Spoke to a lovely chap who said that as I can't pay them back within 10 years then they will freeze all charges and interest and pass it to a Debt Collector in 6 months. Oh and I don't have to pay anything in that time!

Ah, that explains something that was puzzling me. I too had a letter from MBNA saying something aong the lines of freezing interest & charges but it also said as I could only pay £1.00pm I was a financial hardship case. I'm paying more than that through my DMP so didn't really understand but as it's going to be over 10 years then perhaps it's a standard thing they do. I'm guessing CCCS will pay over the monthly payment anyway.

cloudy-day

SILLY_SARAH wrote: »

Ah, that explains something that was puzzling me. I too had a letter from MBNA saying something aong the lines of freezing interest & charges but it also said as I could only pay £1.00pm I was a financial hardship case. I'm paying more than that through my DMP so didn't really understand but as it's going to be over 10 years then perhaps it's a standard thing they do. I'm guessing CCCS will pay over the monthly payment anyway.

Well I'm paying £101 but it will take 13 years so that's why I'm considered 'hardship'.

So if I just keep paying them, and they pass to the debt collector is that a good thing? I think it is but.....

cloudy-day

Me again, just spoke to Egg and went through my SOA. They agree with the pro-rata so I'm paying them monthly by SO. There will send the default notice in the post but I will be dealing with them in house.

So thats 2 biggies:
Egg - £16000
MBNA (A&L) - £15100

that seem to be OK. :T

No word on the others yet.