DMP Mutual Support Thread (Part 6)

bigmommamuppet

Hi sas,

Know how you feel re fed up. I have £10.10 left until payday (next Friday) and I will need diesel and our fridge looks like it's be burgled, honestly it has nothing in it.

On the plus side I do have 12btls of wine so who needs food, and I'm visiting my mum this weekend so hopefully she'll put some diesel in for me. Usually does when I visit if not £10 will have to do.

I have been thinking about this a lot this week. When I ran out of money before (pre DMP days) I would have put the shortfall on a CC and not thought about it (i.e would have filled the car and spent £100 at tesco not just enough to scrap by) now that option has gone I do need to budget better so I don't run short like this again.

Hence another reason I'm glad I went down the DMP route beacuse if I has consolidated my debts and still had CCs I wouldn't be forced into budgeting properly and my debts would have got bigger. Did this several times and failed just kept spending on the CCs like nothing had happened.

Becks

SeaThreePeeO

Its just all the hassle I could do without. Hassle from LTSB that is. Yesterday they sent a proposal for a refinance loan the will shave a large amount of what we owe off. We will pay it back at a lower APR over a shorter period. On paper it looks like the answer to our prayers as the monthly amount we would pay back is less then we're paying them now.

However I can't shake the feeling that there must be a catch somewhere. This is LTSB after all.

cleomolly

saskia1 wrote: »

afternoon all

i am soooooooo fed up today!

have 36p in my purse & thats it till tues (pay day)

does make you think tho - how much i would just dump on the ole cc - like i've just popped into WH smiths to get a paper - i could have bought at least 10 books which would have gone on my cc - but walked out with just the paper & 36p change - couldn't even buy choc - as they are too flamin expensive!!!!!! :rotfl:

oh its quite funny really.

Also -creditor 'HASSLE' update - had 7 missed calls y/day from Cap 1 - when i soke with them - they were useless!! all the 'global' lady kept saying was: '' can you make a token payment today''
me: no
''can you make a payment today please''
me: no!!

& then she said i would have to call another number to stop the collections calls as they now know i'm on a dmp - i asked to transfer me & then she cut me off!!!

Also spoke with Lloyds - very nice - too nice??!!

so my new motto is 'answer the phone' - i can only be honest & it seems i know more than they do about defaults etc.

hilarious.:rotfl::rotfl:

oh - just to add my bit in about cccs & fibbing a bit - we haven't declared my husbands expenses - & this is cos they range from £50pm to £250pm - so some months it will be fab & others won't make a difference.

feel better now for offloading

hope everyone else is ok???

sas

You got 36p more than me, thats gotta be something to smile about : ) (would have put a smiley face here, but my icons arn't working : (

bigmommamuppet

SeaThreePeeO wrote: »

Its just all the hassle I could do without. Hassle from LTSB that is. Yesterday they sent a proposal for a refinance loan the will shave a large amount of what we owe off. We will pay it back at a lower APR over a shorter period. On paper it looks like the answer to our prayers as the monthly amount we would pay back is less then we're paying them now.

However I can't shake the feeling that there must be a catch somewhere. This is LTSB after all.

Please please be careful about borrowing/ refinancing your debts. I have done this several times and it didn't work and now look at the mess I'm in including car finance etc my debt at LBM moment was 102K and I only wish that I had done this years earlier.

You will get some hassle in the early days but it does die down, and all creditors act differently to each 'case' without rhyme or reason so you maybe lucky and LTSB maybe ok with you.

I know that if I hadn't gone down this route I would have kept on spending out with my means and the debt would have continued to rise. I know this, as four months into my DMP by the end of each month I'm wishing I could reach for the CC to 'treat' myself. Now that option is gone I have no choice but to budget properly for the 1st time in my adult life and I'm 'enjoying' the challenge :rolleyes:

Good Luck

Becks

leese2504

Afternoon All,

Update on creditors, have had a letter from MBNA thanking me for the I&E and would I contact them to discuss. Is there a template letter I can send asking them to discuss DMP via letter only??? ( I am not a soft !!!! but its my husband's and he really won't know what to say, he has left the DMP to me ) x

DevonGirl

SeaThreePeeO wrote: »

Its just all the hassle I could do without. Hassle from LTSB that is. Yesterday they sent a proposal for a refinance loan the will shave a large amount of what we owe off. We will pay it back at a lower APR over a shorter period. On paper it looks like the answer to our prayers as the monthly amount we would pay back is less then we're paying them now.

However I can't shake the feeling that there must be a catch somewhere. This is LTSB after all.

I agree with Bigmommamuppet... Read the small print very carefully and see what your DMP organiser thinks of it. I personally don't have LTSB as a creditor but was offered a similar product by HSBC - they call it a managed loan, but it sounds similar to the refinance loan that LTSB are offering you - I was advised to avoid this like the plague.

Maybe it's a great deal, just take care before you jump into LTSB's arms! :eek:

DevonGirl

bigmommamuppet wrote: »

I know that if I hadn't gone down this route I would have kept on spending out with my means and the debt would have continued to rise. I know this, as four months into my DMP by the end of each month I'm wishing I could reach for the CC to 'treat' myself. Now that option is gone I have no choice but to budget properly for the 1st time in my adult life and I'm 'enjoying' the challenge :rolleyes:

Good Luck

Becks

Totally agree BMM/Becks - haven't quite got round to 'enjoying the challenge of budgeting' yet though, but hopefully this day will come!!
At first chopping up my c/cs was akin to chopping off my arm, but you do slowly come to realise that there is life without all those 'essential' £20 nips into Sainsburys!
DG

leese2504

Was reading up on CCJ's etc other day and found this link very useful, its on the government website, just posted it to another MSE as she was asking about CCJ's thought I would post on here too: http://www.direct.gov.uk/en/MoneyTaxAndBenefits/ManagingDebt/CourtClaimsAndBankruptcy/index.htm

SeaThreePeeO

I have at the moment a financial advisor and a debt counselor looking into the refinance loan that Lloyds are offering. They are due to get back to me today, we're unsure if LLoyds are doing this because we're currently claiming back our PPI on the loan we have in the DMP, which they are refusing to cancel. It may be that if I take this offer they will rebate the PPI and I can no longer claim.

What they're supposedly offering is to consolidate 17K loan and 4K credit card into a 15K loan over 4.5 years. Looks good doesn't it. However I reserve judement until I am told excatly what LTSB are up to

MRSG2B_2

Grr!! HSBC have now giving up calling me, and have instead taken to texting me asking me to call them......so glad I'm changing my mobile no soon!!

There is nothing to talk about that hasn't already been discussed, just wish they'd stop the harassment already!

How's everyone on this fine day?!