DMP Mutual Support Thread (Part 6)

2spicy

Its been 8 months for us since our DMP started ...
Paying off £652 a month to clear off a debt of almost £68,000.Already weve paid off £5211.10 of debt

We made the mistake of not starting the DMP sooner as we should have done this years ago... but we are following the path now and soon we will see the light ( but given our luck .. it will probably be a train!!)

Anyway, weve been paying our 9 creditors, all of which have accepted our DMP and most of which have stopped interest or are charging us a reduced amount.

Our Debts
Barclays Loan £60
Barclaycard £33
MBNA CC £97
MBNA Loan £130
MBNA (Virgin) £52
RBS Mint £68
Egg Loan £110
Egg CC £96

We have about £5000 of other debt that isnt recorded on the DMP as this is a family loan. but it is anticipated once we have a year under our belt, and our outgoings reduce (nursery fees) then we should beable to put extra to start on the family debts.

We had calls for 2 months, but as soon as the SOA was sent, these stopped.
Financially, we tried to reduce our outgoings by part exchanging hubbys car in for a cheaper smaller more economical one, but even though on paper the values were identical, Ford Finance were not interested and would not offer finance (even though the current vehicle has finance which would be settled, and the new agreement would be for less money !!

Anyway, hes keeping the car and when the debt is reduced even more, well try again, but this time will sell privatly first and walk into the dealer with a bag of cash.

Chin up to all you new starters, it does get easier, the phone calls and letters will stop. Now we get monthly statements that are filled in our big green lever arch file and we watch the money come into and out of our bank account every month

Mothra

Hi All,

I had a wonderful call with my bank last night which mainly resulted in 'your screwed' conversation and they have referred me to a debt management agency called 'PayPlan' they are a free service and wondered if any one else was with them. We have to face to horrible fact that we are in trouble and need help. My appointment is tomorrow and I am bit scared especially of all the phone calls I will be getting.

Kudox

Mothra wrote: »

Hi All,

I had a wonderful call with my bank last night which mainly resulted in 'your screwed' conversation and they have referred me to a debt management agency called 'PayPlan' they are a free service and wondered if any one else was with them. We have to face to horrible fact that we are in trouble and need help. My appointment is tomorrow and I am bit scared especially of all the phone calls I will be getting.

Hi Mothra, And welcome.
Loads on here are with Payplan, have a read through the thread and you'll find loads of good advice.
It is scary at first but this is the worst bit and after a while everything settles down.
Good luck.

saskia1

hi all

2spicy -superb news - gives me some hope!:T

mothra - payplan & cccs are the same type of organisation - basically they will discuss all your income & outgoings - see what debts you have -then see what is left to offer your drecitors.


all of us here are on DMP's / about to start DMP's / have finished DMP's - its the best thing i've ever done - no more robbing peter to pay paul or worrying if i will ever repay those credit cards - which lets face it - if your only paying minumums on credit cards the likely of them being cleared is virtually nil.

please don't worry bout what they will ask - i presume if they are the same as cccs they should be v good.

a big hello to all the DMPers out there - i'm still checking in every day!!

sas

saskia1

HAHA

forgot to ask my Q!!!!

received a lovely letter from Lloyds TSB Solicitors SCM yesterday - saying they will be taking me to court in 14 days if i don't cough up £8k (ooh yes can find that now!!)

i called them - only to discover it is a dept of LLoyds - the 'useless' operator took all my cccs details and then said could i pay more - ''nope'' & then he said thank you very much & put the phone down.

I have written a letter asking what will happen now - anyone any idea??

Kudox

saskia1 wrote: »

HAHA

forgot to ask my Q!!!!

received a lovely letter from Lloyds TSB Solicitors SCM yesterday - saying they will be taking me to court in 14 days if i don't cough up £8k (ooh yes can find that now!!)

i called them - only to discover it is a dept of LLoyds - the 'useless' operator took all my cccs details and then said could i pay more - ''nope'' & then he said thank you very much & put the phone down.

I have written a letter asking what will happen now - anyone any idea??

Hi Saskia, it makes me laugh when they send letters saying cough up xxxx or else we'll send the boys round, oh yes I'll just look down the back of the couch for that exact amount I was keeping there specially:rotfl:

I don't think you need to worry, it's just the usual rubbish they send hoping to scare you into paying more.

I've lost count of the amount of times I've been threatened with court or bailiffs or the dogs(:rolleyes:) and so far it's all so much hot air.

Actually I tell an lie one has gone so far as getting a CCJ but then they decided they'd made a mistake and got it set aside:D, really, the letter from the court actually states they had "applied for the CCJ in error".

That just goes to show how inept half of them are, and makes me think they're not the big bully boys they like to think.

the_tooth_fairy

Hi Kudox, Enjoy reading ur posts, we are new to this site, just started with payplan (debts £63.000, repaying £1050ish) a month. Am worried about phone calls, so far the only one has been from the local takeaway, wondering where we were and did we have Swine Flu?!. Also what the heckers are Default Notices? Dont want to bother Payplan all the time so when should I contact them when I get scary mail?
Once again, thanks for all the helpful posts. ttf

the_tooth_fairy

Hi Ianmak, may I have a number please? Then I wont feel like a total newbie, thanks. Hope 666 has already been allocated as I'm in enough trouble!

JillyOJolly

Mothra wrote: »

Hi All,

I had a wonderful call with my bank last night which mainly resulted in 'your screwed' conversation and they have referred me to a debt management agency called 'PayPlan' they are a free service and wondered if any one else was with them. We have to face to horrible fact that we are in trouble and need help. My appointment is tomorrow and I am bit scared especially of all the phone calls I will be getting.

I am sure lots of people will already answer this for you, I used Payplan. Make the call!

pinkpower

We made the mistake of not starting the DMP sooner as we should have done this years ago... but we are following the path now and soon we will see the light ( but given our luck .. it will probably be a train!!)

Thanks for this encouraging post 2spicey. I'm looking forward to seeing my debt starting to reduce - thats the only bad thing with CCCS, I paid them my money on 1st, but they don't pass it on until 24th - in the meantime I'm getting hassle! I keep telling myself that it will settle down, and the balances will reduce rather than increase. I also wish I'd done this years ago.