DMP Mutual Support Thread (Part 6)

Twit_Head

scouselad1974 wrote: »

Evening all

I hope you are all well and having a nice weekend

Can anyone tell me if it is ok to open a savings account while in a DMP with CCCS ?

Thanks in advance

Not altogether sure. Did post similar question myself a while ago. Was going to work a Tesco points deals for £1.00 opening deposit. Sent for a and received the paperwork but seemed to point towards a credit search so I'm afraid I chickened out at that point and wrote to say 'No, thanks-changed my mind'
Hope you get your charging problem sorted soon. Keep plugging at 'em and come here to sound off if necessary-you'll vent your frustation in the sympathy and support here.

scouselad1974

Thanks Twit Head

I have the paperwork in front of me and I to get the impression that a credit search could happen, it is only a savings account though, I don't want to borrow, so maybe it's just to check ID etc, I think I will risk it.

I'm glad you had a nice weekend, It's great when you can get a nice cheapo Travelodge room isn't it, Happy days, afterall it's only somewhere to get your head down.

Brussel_Sprout

Morning folks,

Not been on for a few days - have to steal these few moments when Im home alone!

1. Someone asked about Bank Accounts - I have a basic First account with Coventry Building Society - they are great (and don't tell anyone but they give you a free £250 overdraft!) - I also have a linked savings account with this, its all online - the savings account has a grand total of 0.10 in it at the minute though! I need to open another savings account somewhere as its too easy for me to 'borrow' money when I do have some savings. But I've found it hard to find a bank that I can open JUST a savings account at?

2. Payplan - Cover my Payments/Cover my life - I pay this just to have piece of mind that should anything happen my payments will be covered by them for a period of time. It's minimal and doesnt really make a difference to how much your creditors get.

3. Payplan/RBS - I have Mint Credit card that I pay through PP and they are RBS - I've been paying them for 3 years nearly through PP and have had no problems. Don't forget there are credit data confidentiality acts, although it doesnt seem like it half the time!

Other than the above all I want to do it moan and ask if anyone has won the lottery this weekend? Nope? me neither.

Car is broken, no money to fix it, panic panic panic. No car, no work, lose job, no money. Probably looking on the brightside as usual!!

Has anyone on here negotiated a payrise at work successfully?

glitterlea

Just a quickie from me

When you send any paper work (like statement and letters from your creditors) to payplan/cccs - do you send the original or the photocopy?

Thanks x

icecube2009

I have hit a bit of a problem & wondered if anyone can help

We have 2 credit cards with LLoyds TSB & an overdraft on our joint account, they have accepted the DMP payments on all 3, but on the overdraft had been charging interest so made us go over our agreed overdraft so been adding on big charges, Someone called from LLoyds the other week & told DH to increase the overdraft so we werent over it (does that make sense?) and wouldnt get charged bit charges anymore, which he did & we got a latter saying all ok & they were accepting the payments & stopping interest would review in 6 months.
Now the Credit cards are being awkward, they also accepted the DMP payments BUT they says we are paying them after the date that they want to be paid, CCCS pays on 28th I think it is & they want the payment by the middle of the month so have been whacking on a £35 (on both cards so £70 in total) late payment fee every month, which I thought was just going onto the credit card balances, but no they have been taking it out of the joint account so are going to make it go right back over the agreed overdraft again....what can we do??

Thanks

meant to add they havent stopped interest on the credit cards so at the moment our debt is just mounting up big time!

icecube2009

glitterlea wrote: »

Just a quickie from me

When you send any paper work (like statement and letters from your creditors) to payplan/cccs - do you send the original or the photocopy?

Thanks x

i sent copies x

ianmak

Same here, I think because PayPlan destroy the letters after receiving them, it's best to send copies.

Just_Peachy

Hi,

I have recently took the debt remedy on CCCS site and it recommended that i take a DMP, this seems a good solution for me but i am very nervous of doing this and have lots of questions.

how badly will my credit be affected?
Will i be chased by creditors?
How likely are my creditors to accept the dmp?
Will bayliffs come to my home? (i am a single lady living on my own - i don't want to be living in fear)
Will i be able to get a mortgage in the future? (i rent at the mo)

Having read all theposts about being chased by creditors, it has put me off slightly. i am really nervous about doing this and any help would be appreciated.

My current debts are:

£400 Natwest OD
£4100 Lloyds CC
£860 Tesco CC
£10416 Natwest Loan
£270 Capital One

Please help!! Thanks

ianmak

Just_Peachy wrote: »

Hi,

I have recently took the debt remedy on CCCS site and it recommended that i take a DMP, this seems a good solution for me but i am very nervous of doing this and have lots of questions.

how badly will my credit be affected? You'll probably receive defaults, not necessarily a bad thing as you generally need those for them to stop interest. They stay on your credit file for 6 years.
Will i be chased by creditors? You'll probably receive lots of phonecalls and letters, but you can ask for communication only by letter. Personally I spoke to my creditors, and as long as you're strict with them (i.e. don't give them any extra money) you'll be fine.
How likely are my creditors to accept the dmp? Most will accept eventually... and may or may not stop interest on your accounts
Will bayliffs come to my home? (i am a single lady living on my own - i don't want to be living in fear) No they won't, unless you're refusing to pay completely or have a CCJ!
Will i be able to get a mortgage in the future? (i rent at the mo) Hard to say. If you receive defaults then it may affect your mortgage choices.

Having read all theposts about being chased by creditors, it has put me off slightly. i am really nervous about doing this and any help would be appreciated.

My current debts are:

£400 Natwest OD
£4100 Lloyds CC
£860 Tesco CC
£10416 Natwest Loan
£270 Capital One

Please help!! Thanks

I would normally leave this to someone else to respond to as I'm a bit too scary in my responses. But I'll give it a go! (See above) I can't advise on your creditors as I don't have any of them.

Other than that, a DMP was the best thing I have done, and the only way out of my predicament. £38k in debt and paying minimum payments on most, I was never going to pay off the debt. At least with the DMP I have accepted that there was a problem, and at least have a rough DFD of 2019 (ish).

You will have good days and bad days, but hang in there, use this thread for support if need be (we're all in the same boat, and here to help each other).

And welcome!

Just_Peachy

Thanks for your response Ian, can anyone explain the difference to me between a dmp and an iva? would anyone recommend an iva?

Thanks