DMP Mutual Support Thread (Part 6)

sunnydais

munkiemunkie81 wrote: »

Happy Birthday Muddlemess!

I am sooo fed up with Natwest - honestly we are nearing a month when i first applied for my account, took 2 weeks to get an account number, a further week to get a pin number, a further half week to get a debit card - which takes 24 hours to activate?? And now today I finally recieve my internet banking activation code only to find out I cant make ANY online payments without a card reader - that can take up to 15 days!!!

I also find that they havent transfered any of my direct debits either! Just wonderful!! Now I have to use the phone to call them up and make payments - make a ton of apologising phone calls over failed direct debits and set up the D/D transfers myself. Lovely !

Anyhoos

I did recieve a lovely letter from First Direct saying they accept my payment as per CCCS proposal until a review in OCt 2010 and interest will be charged at 0% over first directs base rate of 0.5% making an annual rate of 0%.

They are my biggest creditor at 16k.

So thats great news Hope the others will be as easy! one can hope!

oh no:rolleyes: I applied to Nat West for an account in order to start my DMP argh.

2spicy

TravelGuru wrote: »

Hi this is my first post, i am very stressed out and scared about the whole process, i was hoping for some advise and information for people on DMP. i Have just contacted payplan to arrange an agreement with them for mine and OH finances i lost my job over 12 months ok, i have been working for 12 months but after april P60 realised that i was loosing 6k a year from my previous job therefore resulting us in getting further in debt as we have kept up with all our repayments but this only been done through overdrafts and balance transfers. I would like some information on what to expect and what to be prepared for i have already dealt with a couple of people regarding missed payments ( only this month), and thats frighten the hell out of me put we cannot continue how we have been , so i went for help. thanks

Welcome ...

First Rule .... DO NOT PANIC !!! ...... it really isnt that bad !!

Second, brace yourself for a rough 2 or 3 months, as your creditors will try any and every dirty trick in the book.
They will hound you for extra money, threaten court action and also Court proceedings including Bailiffs comming to your door. - Stay Strong, stand your ground. They canot take what you donot have

The most important things are ..
1. No one can evict or through you out of your home. - they can apply for a charging order (that is first dibbs on any profits gaineed from selling it) but this has to go to court first.

2. No one has the legal right to come to your door and force entry to take property to pay off debts without a court order. (that said, they could visit and if they can gain entry though an unlocked door or window (without breaking it) then they can remove goods).

3. Credit Black list !! Ha if your here, you will have accepted your credit file is or will be shot to bits anyway!.

4. Eventually all your creditors will accept the DMP in some way shape or form. If they pass the debts to collection agencys, these people will only try to recover the debt, and can be less demanding than the origional debtors.

5. Remember .. Stand your ground. You are allowed money to live on, and a full Statement of Earnings will detail what you are entitled to (if it says "Pets", then say you have a pet. Take the allowance (they are not going to check that fido actually exists) .. the extra £20 or so a month will come in useful). They cannot take money from you that detracts from your ability to live and eat. They will not allow luxerys like sky TV, DVD / book clubs etc (but these can be offset using Fido's food allowance :cool: )

6. Were all here because were are all in the same boat (or have been). There is no such thing as a stupid question. Someone out there will have advice.

Remember ... No one will mock you as we all deal / do things differently. People will give you the benefit of their knowledge.

And in 3 or 4 months time, you will look back and realise its the best thing you have ever done.

Words of Wisdom though. STOP making full payments NOW if you havnt already done so.
Start making token (£1 or £2) payments to all your creditors. There are lots of templates here and in the last 5 threads for sample letters. Tell them you recognise the financial commitments you have but you are starting a DMP with Payplan and have made the token payment as a gesture of good faith.(this will get their backs up and start the calls, but just look back at my First Rule.)

This is where you need to start to create an Emergency fund to cover you incase of problems. People sometime ask how much is enough ... that is up to you. £1000, £2000, £3000 you decide.

Make the token payments until your DMP is setup. Payplan will advise you of this anyway.

Get new bank accounts NOW. Choose one that is not linked to any of your current debtors. There are quite a few detailed in the history of this and its previous threads). Have all your salarys paid into the new accounts (if you have existing overdrafts and wish to include them on the DMP). Donot get an overdraft facility
This will give you 100% control over your outgoings.

• Make sure your Utilities and Council Tax / Mortgage are paid on time and without fail. These are the most important payments and commitments you have. Defaulting on these will land you in serious trouble very quickly
• Donot give your new bank account details to your creditors. This is where you take control.

Considder removing your phone numbers and also when you write to your debtors, request all corrispondence be made in writing and not via telephone. They will use all mediums to hound you. - Donot be afraid to complain back if they start to harrass you. We have complained to 3 debtors about phone calls at 08:00 and as late as 20:00 at night 6 days a week.

I hope our ramblings help in some way. if in doubt ... ASK.
asnd keep us all informed how you get on.

sunnydais

Hi a few quessies before launching into the DMP....should I wait until a new bank account is set up before sending the DMP file to CCCS?

I have 3 bank accounts with Bank of Scotland one of which is a card cash. Do you think they could be trusted if I explained I was going on the DMP and wanted to include my overdraft with the current account in that plan?
thanks

2spicy

sunnydais wrote: »

Hi a few quessies before launching into the DMP....should I wait until a new bank account is set up before sending the DMP file to CCCS?

I have 3 bank accounts with Bank of Scotland one of which is a card cash. Do you think they could be trusted if I explained I was going on the DMP and wanted to include my overdraft with the current account in that plan?
thanks

No need to wait until a bank account is setup. some people have found that when you mention DMP's accounts get blocked / closed (as banks try and recoup as much money as possible).
The best advice always has been get a new account, wipe the slate clean. However it is up to you. if you want to risk it .... Personally I wouldnt

sunnydais

2spicy wrote: »

No need to wait until a bank account is setup. some people have found that when you mention DMP's accounts get blocked / closed (as banks try and recoup as much money as possible).
The best advice always has been get a new account, wipe the slate clean. However it is up to you. if you want to risk it .... Personally I wouldnt

okies thanks for that I will heed that good advice!:o

2spicy

I can just imagine though, salary paid into bank ... and the bank suspend the account ... I can think of words not suitable for this forum to describe what I would be thinking !!!

LittleMissSkint

Hello!

I am sending off my DMP paperwork today - wage slips, statements etc. Two quick questions:

1) It says in the letter the envelope is pre paid, but there is no stamp on it and the address isn't freepost (Just CCS, DMP Processing, Wade House, Leeds, LS2 8NG. Should I stick a stamp on it just in case? Or is it freepost? I'm wary as it doesn't say!

2) Is it necessary to open a new bank account? I bank with Nationwide, none of the debt we owe is to them, so can we just keep the same bank? Like I say none of the debt is lowed to Nationwide.

Thanks!

sunnydais

2spicy wrote: »

I can just imagine though, salary paid into bank ... and the bank suspend the account ... I can think of words not suitable for this forum to describe what I would be thinking !!!

the banks are on a kind of DMP with us as well after they borrowed so much to get bailed out

2spicy

LittleMissSkint wrote: »

Hello!

I am sending off my DMP paperwork today - wage slips, statements etc. Two quick questions:

1) It says in the letter the envelope is pre paid, but there is no stamp on it and the address isn't freepost (Just CCS, DMP Processing, Wade House, Leeds, LS2 8NG. Should I stick a stamp on it just in case? Or is it freepost? I'm wary as it doesn't say!

2) Is it necessary to open a new bank account? I bank with Nationwide, none of the debt we owe is to them, so can we just keep the same bank? Like I say none of the debt is lowed to Nationwide.

Thanks!

if you donot have any outstanding debt with your bank, then fine ... Usually, poeople have overdrafts that are being included in the DMP, so a closeureof bank account is advised.

Cannot comment on the freepost bit, were with PayPlan

Good luck though

2spicy

sunnydais wrote: »

the banks are on a kind of DMP with us as well after they borrowed so much to get bailed out

Good point .... Not sure how an argument could be won with that point though, but one I might try the next time I get called demanding money