DMP Mutual Support Thread (Part 6)

snowball2009

hi everyone, i am on a dmp with cccs for 2 mths and so far everything has been fine, when i first started i was getting calls from my creditors so instead of going through the same conversations everyday (sometimes upto 5 times a day with capital one!) i then started refusing to answer their security questions that they go through when they call, i would say that they had rang me so i wouldnt confirm anything over the phone.....suprise suprise the calls stopped, not had a call now for ages so if anyone is getting stressed with the calls just do that, i promise you they will soon stop when they realise that when they call you they cant actually discuss anything with you xx

nymph_2

Daffykjs wrote: »

Sorry I have no idea about either of your questions. but if i was you i'd give national debtline (or payplan or CCCS, both of which are much of a muchness) a ring and ask their advice.

Payplan and CCCS to the best of my knowledge are both Free! because they are registered charities. Payplan have been brilliant for us.

Re the bursary, I think they are awarded ONLY to assist with your education, I don't think they can take it away, but it might be considered to be part of your living income over a certain timeframe, you would have to check that with DMP company

nymph_2

Daffykjs wrote: »

i hope you don't have to change accounts coz i'd have to too. i have my new account with lloyds and a cc with HBOS. when they were first talking about it i asked pp and they said not to worry at the moment but to keep an eye on it. you've competely reminded me coz i'd forgotten all about it. i'd say give pp a ring and ask their advice on the situation!

newlywed wrote: »

You can pay cash in and withdraw cash at any post office though

It's just if anyone gives you a cheque that you would have to post it to them or get to the branch :rolleyes:

Thanks panicsetin, ianmak and newlywed, appreciate it. I'll look at Co-op bank. can you tell me if they will usually let you have a visa debit card/online banking/cheque book? I work 40 hrs a wk, hubby works about 60, so getting to the bank for payments in/out is a major pain! I'm not looking forward to having to switch it all as I've got payments set up to pay almost everything automatically. That way I don't have to think about it too much:D
Daffykjs, I've emailed PP today to ask their advice, waiting for a reply, I'll let you know what they say.

jles49

I have had 1 creditor accept dmp and that is Mint. They froze interest without asking. Still cringe when phone rings at work as havent heard from rest of them. These include Egg, Tesco card, Barclaycard and Littlewoods.

scouselad1974

Hi Everyone

Hope you are all well today and your Debt Management Plans are going well.
I was thinking about insurance tonight and was wondering if any of you guys have taken out insurance to cover your DMP payment, should you get made redundant or have to leave work due to illness etc.
I am Self Employed and it would be reassuring to know that if the worst happened I could continue to pay my creditors.

Part of me says this is the sensible thing to do but another part of me says that any spare money would be better spent on one of my debts.

Any comments or advice welcome

ianmak

nymph wrote: »

Thanks panicsetin, ianmak and newlywed, appreciate it. I'll look at Co-op bank. can you tell me if they will usually let you have a visa debit card/online banking/cheque book? I work 40 hrs a wk, hubby works about 60, so getting to the bank for payments in/out is a major pain! I'm not looking forward to having to switch it all as I've got payments set up to pay almost everything automatically. That way I don't have to think about it too much:D
Daffykjs, I've emailed PP today to ask their advice, waiting for a reply, I'll let you know what they say.

I got a Visa Electron card from them, and a decent online banking system. Their telephone banking is pretty darn good too.

Regarding transferring DDs over, once you have the new bank details, just get all your DDs together, then phone each company up to transfer the DD over to the new account. That's how I did it anyway, and they were all really nice and friendly on the phone. You need to allow 2 weeks for them all to go through though.

Brussel_Sprout

scouselad1974 wrote: »

Hi Everyone

Hope you are all well today and your Debt Management Plans are going well.
I was thinking about insurance tonight and was wondering if any of you guys have taken out insurance to cover your DMP payment, should you get made redundant or have to leave work due to illness etc.
I am Self Employed and it would be reassuring to know that if the worst happened I could continue to pay my creditors.

Part of me says this is the sensible thing to do but another part of me says that any spare money would be better spent on one of my debts.

Any comments or advice welcome

Morning Scouselad - who do you have your DMP with? Mine is with Payplan and I pay out for Cover my Payments/Cover my life, which equates to about £11 out of my payment each month.

It's something like 6% on your monthly payment, which in the grand scheme of things is minimal. Not sure if CSSS have any similar product?

I've sat here crying at some of the posts this morning. I can't come on here as much as I'd like as I cant use the net in the day so I catch up in the morning. So glad everyone is getting on with their DMP's it really makes a difference to know there are other people who feel the same as I do.

Panicky, stressed, sick (!), serene, calm, in control, out of control, angry, relieved etc etc etc. Usually change on a regular basis!

Will have diagnosis on my car today - my BF has kindly said he'll pay nearly half towards it as he uses the car too He's going to pay for it all and then I can pay him back - I was thinking I'd have to go down the route of reduce my DMP for a few months. But he's my saviour - again!!:o

scouselad1974

Brussel_Sprout wrote: »

Morning Scouselad - who do you have your DMP with? Mine is with Payplan and I pay out for Cover my Payments/Cover my life, which equates to about £11 out of my payment each month.

It's something like 6% on your monthly payment, which in the grand scheme of things is minimal. Not sure if CSSS have any similar product?

I've sat here crying at some of the posts this morning. I can't come on here as much as I'd like as I cant use the net in the day so I catch up in the morning. So glad everyone is getting on with their DMP's it really makes a difference to know there are other people who feel the same as I do.

Panicky, stressed, sick (!), serene, calm, in control, out of control, angry, relieved etc etc etc. Usually change on a regular basis!

Will have diagnosis on my car today - my BF has kindly said he'll pay nearly half towards it as he uses the car too He's going to pay for it all and then I can pay him back - I was thinking I'd have to go down the route of reduce my DMP for a few months. But he's my saviour - again!!:o

Hi

I don't think CCCS offer insurance on their DMP, thanks for the info though.

I'm glad that your BF has helped you out with the car repairs, my Dad helped me out with mine last month, l have been lucky with work this month and managed to pay him back

cheesedoffwithdebt

Brussel_Sprout wrote: »

Morning Scouselad - who do you have your DMP with? Mine is with Payplan and I pay out for Cover my Payments/Cover my life, which equates to about £11 out of my payment each month.

It's something like 6% on your monthly payment, which in the grand scheme of things is minimal. Not sure if CSSS have any similar product?

I've sat here crying at some of the posts this morning. I can't come on here as much as I'd like as I cant use the net in the day so I catch up in the morning. So glad everyone is getting on with their DMP's it really makes a difference to know there are other people who feel the same as I do.

Panicky, stressed, sick (!), serene, calm, in control, out of control, angry, relieved etc etc etc. Usually change on a regular basis!

Will have diagnosis on my car today - my BF has kindly said he'll pay nearly half towards it as he uses the car too He's going to pay for it all and then I can pay him back - I was thinking I'd have to go down the route of reduce my DMP for a few months. But he's my saviour - again!!:o

HI Scouse lad et al- ok can I add my comments?

The Payplan cover my life insurance is if you die- so thats not an applicable insurance for other of life's eventualities.

You can, privately, take out redundancy cover, in fact there are alot of products available online, if you go to moneysupermarket.com I think from memory they have details of providers- it usually costs so much per 1000 of salary you want to cover.

Sickness insurance-known as income protection- is usually best purchased through an Independent Financial Adviser- please don't feel tempted to go into the banks they usually have the most expensive products of this kind! Income Protection cover is expensive because the insurer guarantees to pay out until the date you would normally retire, so the risk to them is pretty enormous. I can't see it would be a good idea to just cover the DMP payments as you would have other expenses to pay out and you need to consider the cross over between availability of state benefits versus incoming private benefits as well. It is also an underwritten product (redundancy cover is not) which means if you have a medical history then the premiums would go up- so it's not necessarily good news I am afraid.
If you are self employed you ought really to have this kind of insurance because there is no-one there to pay your wages if you can't work- so I would get some quotes together first then talk it through with whoever is doing your DMP. If you want to ask more questions feel free to PM me although I can't give specific financial advice to a stranger over a website!

Kudox

Hi all
Just reading through the last couple of pages, regarding anyone struggling with companies still adding interest.
A couple of mine are still doing this too, one an eye-watering £200 odd quid a month as against a payment of £30 odd quid on my DMP.:eek:
Obviously thats a ridiculous situation and is completely negating everything else I'm paying as well. :mad:
As has been said they're under no obligation to stop them and I reckon the only thing you can do is keep on badgering them to try to get them stopped.
I did this and managed to get them stopped by one creditor by threatening to report them to the ombudsmen for pushing me further into financial distress.
Unfortunately theres no easy answer and CCCS seem to be no better at negotiating with the creditors than I have been, in fact if anything I've been more successful.
If it comes to it at the end of my plan and the situation is still continuing I'll then really try to appeal to the better nature(:rolleyes:) of that particular creditor to try to get the interest scrapped.
Keep positive everyone.