DMP Mutual Support Thread (Part 6)

frankfish

Hi,

Another lurker who has finally gotten round to posting (have posted a few times before for advice).

Our LBM was 'forced' upon us a few months ago when I was told I was being made redundant, at the time I was devastaed, but thinking about it, it could be one of the best things to hapen to me. I have found another job, which I am enjoying, however I have had to take a pay cut of over £1100 per month. As a result we have just started a DMP with CCCS, made the first payment last week.

Have three creditors, all loans:
1: Northern Rock - have been great, wrote back freezing interest etc, will review again next year.
2: Halifax - heard nothing, not sure if they will start acting when the due payment is not made.
3. Hitachi Capital - not happy bunnies, will not accept DMP and phoned me up 1 day after payment was missed, also wrote saying they will default account and start adding charges.

Not sure if going to default is a good thing as from what I have read, this will mean charges etc are frozen, or am I being simple. Also my original loan was with Liverpool Victoria who tranfered it to HC this year, can HC still charge me at their charges or should it be at the LV charges ? Is it working asking for a copy of the agreement or will that upset them ?

Has been a struggle adjusting to new budget, OH has been great at arranging things, but this months food money is almost gone already, so I am a bit worried about coping.

Thanks for help this post and board has given me, nice to know I am not alone

FF

ianmak

Half in jest, but can I ask if IBS is part of the same group as RBS?

2spicy

Just a quick reply, I understand the temptation of spending change if its in your pocket, and a card can be so much more convenient, we too are still guilty of the odd transaction, so Get yourself a Tin or jar, cut a slot in the top and put all yoru change in it ( we have a "10p or under" Jar .. the larger money goes back in the envelope and the Jar gets emptied and changed into "Treat" money 1 weekend in 4.
We took the envelope idea a step further and have made a number of envelopes into a folding affair with your youngest as a project one rainy day.
The result is a compartmentalised money wallet with 10 divisions all as large as a £50 note.
Each one gets refilled when the date comes, and the spare un-used money again goes into our treat or Holiday Jars.

It sounds a bit drastic, and there are others why live a lot closer to the "breadline" than us, but its turned around our whole way of thinking ... back some 40 or so years ago when money wasnt squandered and was respected more.

Once your into the swing though, youll find out what works and what doesnt

Brussel_Sprout

ianmak wrote: »

Half in jest, but can I ask if IBS is part of the same group as RBS?

Can be a pain in the !!!!, so yes they possibly are!!

scared1

Hi everyone,

I have a couple of questions about the debt management plan I'm about to go on.

Firstly my creditors are Mint, Halifax, Abbey(MBNA), Alliance and Leicester, Tesco and HSBC....does anyone have any experinces of if these companies tend to accept plans or not?

My second question is....would I be able to leave out of my debt mangement plan HSBC...who are my bank. I have managed to repay the overdraft in full of £1000 this month and will now cancel the facility...and I owe them £3700 for a credit card.

My concern is...they are also my mortgage providers and once my 5 year term is up and I still owe them money (on a joint mortgage) I don't want them to refuse to renew my mortgage...and I thought it would look much better if I made an effort to raise this extra money myself and keep up their payments.

Is this allowed?

Thanks in advance...this is all so stressful....I'm having palpitations!

Scared

Brussel_Sprout

Hi Scared1,

I can't answer most of your questions but I have had dealings with Abbey/MBNA (now Santander) and MINT card (RBS).

Abbey - were really hardcore relentless, and didn't accept my contacting them to make reduced payments they did however accept my offers when Payplan made them, and they have held my interest.

Mint - Were amazingly accommodating accepted everything I said, were really friendly helpful and also held my interest. I pay them through Payplan and have had no issues.

I don't know abou teth mortgage thing but someoene else will be along to give you some guidance.

This is all a scary business, and just to let you know, it does get better and the fear does subside, it never goes away but just think of that debt free day!

Good Luck

CharliesAngel

hello all

hope you're all well...

I've not managed to read up on the thread yet... just got back from hols i wish i could say it's great to be back lol...

no news on the DMP while i was away... things are swimming along..

Found out today though, through ringing CCCS, for all of you with a JD Williams/Simply Be/Shoe Tailor etc. catalogue that they're actually part of Littlewoods/Kays group... that was news to me! Will probably get Littlewoods on my case now... :rotfl:

Will post soon no doubt...

CA x

Gpuk

Just an update from me, getting all my bits sorted , have got my 8 x £1.00 postal orders and have written them out to all creditors (except barclays account for my overdraft). I'm finding it a little difficult to work out how much money I have/haven't got as it's all between bank accounts at the moment so i'm just sticking to my shopping budget and trying to save money as much as possible and hopefully it will all work out ok although I know I won't feel better until I see my wages in my Halifax account at the end of the month!! My payroll dept are still saying they haven't received my change of details email, absolutely useless, but I am calling them every day so fingers crossed!!

Bit worried about stuff still, but it's got to be a better option than still trying to pay the bills and pretending everything is ok!

Good luck and hugs to everyone who is doing this, starting this and thinking about this, hopefully have a good nights sleep soon!!

londonfraggle

Just to say I feel exactly the same as you. I've now sent off my notification letters, along with token payments, for this month while I get things ready to start next month. However, I didn't send notification to a couple of creditors - namely my bank (overdraft) and the loan from the same bank. I was too scared to send them until I know for certain my monthly salary will go into my new Co-op account at the end of this month, as I don't want my bank to suddenly reduce my overdraft (which I am guessing they might the minute they know I'm on a DMP) leaving my salary to be swallowed up the minute it goes in there - IF it hasn't been transferred across in time. All so complicated! I am bugging my payroll dept but they are pretty slow so I am just keeping my fingers crossed.

Assuming it does go into my new account then have the letters ready to go out to my bank on that very day! So hopefully can still get my DMP ready to start on 1 October.

Can anyone give me some advice about what to do in case I can't get things ready for 1 October. I presume I can start the DMP on 1 November - and would just have to pay another round of token payments in October? Will this have a negative impact, though, on creditors accepting the DMP?

Any advice please?

And good luck to everyone out there. I know how stressy and miserable this feels. It seems to pervade everything else! I had a huge fight with my little sis tonight who is usually so lovely to me, but I think because I'm sooooooo tense I'm being snappy which is v unlike me. Feeling bit low now and really hope this all gets off the ground soon so I can get back to feeling like me soon!

Fraggle x

jles49

ianmak wrote: »

Welcome Sprout!

please could i have a dmp number thank u lol