DMP Mutual Support Thread (Part 6)

smcshane

Hi all,

Just a little update and advice needed. I have received the default notices from Barclays for my two loans over the last week, no shocks as was expecting them. They are pretty much the same as the termination notice I had from my current account with lots of we may do this and that... As always I gave them a call to confirm the info in the letter and that payments will continue through CCCS and that I am having a review in the next two weeks due to salary increase, just waiting for my payslip to confirm my new net salary.

I am thinking (again) about writing to Barclays regarding the biggest loan as it has single premium ppi on it and now this is not relevant getting some of the premium back would get the amount owing down.

Does anyone have any ideas on how I can word this. Would be interested in any thoughts.

Otherwise DMP is ticking along nicely and at last about £400/mnth is being paid of the debt from my £552 payment. It is so nice to see as I certainly havent been in that position for the last 10 years!!!!

Hope everyone is having a good day.

Sx

gaztop26

Hi all,

Not posted for a bit, but still chipping away at debt!
DMP going well, all creditors stopped interest and charges and not receiving any hassle from anyone.

Just got back from a car boot sale and made a whopping £365, nice! :rotfl:

I have got a lovely question to ask you all though.

I will be getting a csah bonus soon. About £3000. What sshould I do with it?

A) Tell CCCS and ge them to divide it up between 8 creditors.
Make a full and final settlement to a creditor
C) Bank it (premium bonds maybe?)
D) Lump it off the motgage as this is the only debt that I am paying interest on?


Any advice would be appreciated. What a lovely quandry!

Take care

saskia1

muddlemess wrote: »

Infact here is what I will be paying, is there anyone else paying as little as me?

Company (Should pay) What paying

M&S (£109) £15.97
Citi (£45) £6.59
Next (£85) £12.46
Lloyds cc (£257) £37.66
Cap 1 (£240) £35.17
Lloyds Loan (£165) £24.18
Lloyds Loan (£174) £25.50
Egg (£124) £18.17
RBC CC (£69) £10.11
Lloyds O/D (£55) £8.06
Lloyds O/D (£10) £5
A&L O/D (£35) £5.13

:eek:

oooh - this looks like mine!! interesting that lloyds cc are roughly the same - i should be paying £200 - dmp says £58 & they won't accept.

weird how some they accept -some they won't.

i have been in 2 minds this w/end to see if there was anyway i could try & offer maybe £10 more to lloyds to avoid a ccj. All of a sudden my bravado regarding ccjs has gone out the window. am :eek:

hope we have all had good w/ends - gaztop - how did you manage £365 at a car boot!!!! last one i did i made £40!!! secret please??.....

sas

muddlemess

saskia1 wrote: »

oooh - this looks like mine!! interesting that lloyds cc are roughly the same - i should be paying £200 - dmp says £58 & they won't accept.

weird how some they accept -some they won't.

i have been in 2 minds this w/end to see if there was anyway i could try & offer maybe £10 more to lloyds to avoid a ccj. All of a sudden my bravado regarding ccjs has gone out the window. am :eek:

hope we have all had good w/ends - gaztop - how did you manage £365 at a car boot!!!! last one i did i made £40!!! secret please??.....

sas

Doubt they will accept mine then! still waiting for all my creditors to come back to me to say if they'll accept!:eek:

I'm pooping about ccj's too, although I'm not looking to borrow anything else so my credit rating shouldn't effect that but hoping it won't effect my mortgage!

Secret too please gaztop...:D well done! xx

muddlemess

gaztop26 wrote: »

Hi all,

Not posted for a bit, but still chipping away at debt!
DMP going well, all creditors stopped interest and charges and not receiving any hassle from anyone.

Just got back from a car boot sale and made a whopping £365, nice! :rotfl:

I have got a lovely question to ask you all though.

I will be getting a csah bonus soon. About £3000. What sshould I do with it?

A) Tell CCCS and ge them to divide it up between 8 creditors. I know we're supposed to do this but would it make a beg dent in what you owe?
Make a full and final settlement to a creditor This sounds good but I've read that it may stay on your credit rating for 6 years as 'partially settled', but if your not planning on getting anymore credit I can't see a problem!
C) Bank it (premium bonds maybe?) If you banked it could your creditors see that you have a big amount stashed? Don't think 'Martin' recommends premium bonds, don't get any interest on them!
D) Lump it off the motgage as this is the only debt that I am paying interest on? Would it make a hugh difference to your payments?

E) Give some to all my money saving friends :j


Any advice would be appreciated. What a lovely quandry!

Take care

Well not sure I can answer with a multiple choice, you could just give it to me?

I'm only just starting this myself but hope the above helps, just things I would ask myself... xx

Armitage_Shanks

Evening all. My DMP starts on the 1st of november and have sent all letters and token payments to my creditors.:eek::eek: I had a very quick reply from MBNA(virgin) they didnt mention my DMP or token payment but said they had stop all interest and charges for 6months and wanted £50 a month my dmp payment to them will be £50.75. My question is as my dmp isnt starting untill november what should i do regarding payment as they wont be getting anything from cccs until 25th november. Do i pay them 50 on the 1st of Oct to keep them sweet?

munkiemunkie81

Armitage, If you can afford the £50 this month ie you are living by the budget already then i would pay it.


I seem to be at a standstill with mine - I sent a fiver to 6 of my 7 creditors yesterday all but a loan payment that doesnt come out till around the middle of the month anyway. CCCS have been fab, we've adjusted my budget because they said i wasnt being realistic with my food and clothing budget! Though the minimum food budget they gave me was £300 compare to my £160! I have gone with it - trusting their judgement - then if i am spending less then it should be noticeable and I can either build up a cushion from leftovers or increase my payments.

I think i'm all sent to start on the 1st October.... EXCEPT!!!

I applied for a Step account with natwest, got the forms all sorted, gave ID etc and now i'm tapping my fingers impatiently waiting for any kind of a sign from them!

I get paid on Friday and have no account number for it to be paid into!!! ARGH! I can probably just send it to my sisters account in the meantime but my D/D for the mortgage, childcare etc arent going to be transfered in time are they!?
I will ring the mortgage people straight away as soon as i have the account and pay the amount and then i should hopefully be ok for the next month!

Course the EX wouldnt save himself the bump by taking on the D/D himself!! Idiot!

How long did everyone else have to wait for their new accounts to be set up?

I feel like i'm sitting on pins at the moment just waiting for the phone to start ringing!!

munkiemunkie81

Actually should i ring the mortgage people and warn them? Get them to cancel D/D and tell them i will call and make payment on the 1st over the phone? Better to be forewarned do you think?

whichwaynow_2

Munkie, I too applied for a step account with Natwest and they were slow. I had the same problem as you, wages needed to be paid in. I phoned the customer services in the end and was told the account was set up, but the paperwork wouldn't get to me for about 3 days. They advised me to go into my local branch with ID and they would give me account no, etc. So it may be worth a phone call.

Gaztop - that's a huge amount to make at a car boot sale, most I've ever made is £80, well done you.

Well I've had a good start to the week. Another letter accepting reduced payments and stopping interest (Next), that's my 2nd.

I've also had a letter from M&S (Personal Loan, £13,000 outstanding). They have asked a few questions.

1) Have I provided details of Income & Expenditure to CCCS
2) Please send a copy with your proposal for payment.
3) Have you other creditors. If so what arrangements have I made with each of them.

How should I reply to this. I assume that they have had all of the above info from CCCS anyway, or should I send it again.

Any advice gratefully received.

Hope everyone has a good week.

munkiemunkie81

Thanks for the tip, I will call them from work once I know the post has been!

Then I can pop into a branch tommorrow at lunch if necessary.

I read your note about Next - thats good news for me! I just checked online and they have my balance at £630.59 and no available credit whereas it was 1500 available yesterday - so thats been actioned quickly, hopefully they will stop my interest too and wont be too peeved by my £5 token payment this month compared to their £60 minimum!