DMP Mutual Support Thread (Part 6)

bailey59

Thanks guys, I spent all last night with papers all over the living room. I have now put all my dd's in pastic wallets and put them in date order that they are due to come out of the banks. That way I can see which need to be tackled 1st next week. Then I have put notes inside to remind me what I am supposed to be doing, my list of things to do is growing longer but thats good, it means I am getting organized. There just arent enough hours in the day for me as I work full time. By the time I get home and cook my tea its late. I think I have a couple of days holiday that I might take next week so I can sort everything. These banks are a pain though. You want to move all your dd's, wages etc away from the ones you owe money too but you have to be quick to open a new account before you send your letters off so they dont take all your money out that is in there to pay the dd's that you cant move to a new account cos its not open yet!!

Northstar68

bailey59 wrote: »

Thanks guys, I spent all last night with papers all over the living room. I have now put all my dd's in pastic wallets and put them in date order that they are due to come out of the banks. That way I can see which need to be tackled 1st next week. Then I have put notes inside to remind me what I am supposed to be doing, my list of things to do is growing longer but thats good, it means I am getting organized. There just arent enough hours in the day for me as I work full time. By the time I get home and cook my tea its late. I think I have a couple of days holiday that I might take next week so I can sort everything. These banks are a pain though. You want to move all your dd's, wages etc away from the ones you owe money too but you have to be quick to open a new account before you send your letters off so they dont take all your money out that is in there to pay the dd's that you cant move to a new account cos its not open yet!!

Well done, plastic wallets too.....you sound like me , I have just had all my papers all over the place again today, checking again........madness........everything has been sealed and is ready to post, my to do list is getting longer as I remember everything that needs to be switched but I find that when you start crossing everything off it is psychologically so satisfying. Got my black marker pen ready.
As for the moving dd's etc.....that is the most stressful I think, and the timing. I have to decide in which account to bank my husband's cheque that he hopefully will be coming home with tomorrow night. Having got teh stationary through yet for the coop to do it at the post office so it will mean trekking for an hour on the bus on saturday morning or taking a chance and banking it in our local branch with whom we have the overdraft which is being taken away on the 1st December. As soon as the cheque clears I was going to withdraw it (which would be next Friday now it takes 5 days!)........got to decide......maybe I can get hubby trek to the bank to pay it in, call it his contribution this week to all this sorting out....seeing as so far he has done..........nothing!

LittleMissSkint

Our half term is finished, the kids were off for two weeks but they went back on Monday.

Well in the post just now I have just received my welcome pack - after I paid online :rotfl:Typical. Oh well, saves a trip to the PO in the rain.

I also got a letter from Cabot (for an Egg loan) one of our biggest creditors, saying they have received CCCS request for repayment and have accepted the new arrangement! :j:j:j They are still charging interest though

Having looked at my welcome pack and some of the offers my creditors are going to be getting I can't see them being happy with them - Two that were getting £150 a month are now going to get £39! :eek: I'm expecting a flood of rejection letters any day now! One step forward, two back.

Triggles

We were quite stressed over the direct debits, but I found a number of them (such as our life insurance, DH's unemployment insurance, and such) told us to cancel the existing direct debits, and when it didn't go through, they would then simply automatically move to the new direct debit in the new account (which we gave them details of over the phone). They made a notation in our file (and I documented it at home as well) and sent out forms just for us to sign to verify the changes. Most of them didn't seem to worried about it. Even when we called about the council tax, they were pretty nonchalant - she said "don't worry, if it doesn't go through, we'll let you know - these things happen." It was a bit of a relief!

I'm now going through our file folder of "current household bills" and taking out everything from loans and credit cards and placing them in a separate folder. Less confusing that way. And tidying up our paperwork - haven't scanned in a few weeks since this whole DMP thing started. I'm also double checking balances due and such.

My new printer head showed up today, so I'll have to toy with that and get it put in correctly and hopefully I can start printing off letters tomorrow to go to creditors by Monday at the latest. We still have to go get postal orders.

I have to say that just doing these little things and making progress, even if slow, makes me feel ever so much better - like we finally have a teeny bit of control back in our lives.

bailey59

As soon as we have all sorted our banks, dd's, wages and have paid CCCS we will all feel so much better. At least then when the phone rings and we get nasty letters we know we have the support of the CCCS to back us up and we can just tell the creditors to phone them, that will be a huge relief. Then we can start on reclaiming our bank charges, ppi etc so we can reduce those debts.

Triggles

LittleMiss - we have one creditor that was getting £274 per month (loan) and one that was getting £180 (credit card) - obviously amongst many others for smaller amounts, thankfully! - and I'm reasonably sure they're not going to be happy with £1 token payments they're getting in November either. But we can't give them money we don't have. I'd like to think the fact that we're facing up to the problem and starting the process of fixing it will at least count for something - instead of just hiding from it or competely ignoring it and paying nothing.

pavan_2

Today I get a letter from CCCS saying that Natwest have told them my account number for my OD is wrong. Its not wrong, and I've just checked my online statement to see that last months payment went through. However on the 1st of june there's a transaction that says "transfer", and a 30 pound charge. Does this mean its been passed to a DCA ???

LittleMissSkint

Triggles wrote: »

LittleMiss - we have one creditor that was getting £274 per month (loan) and one that was getting £180 (credit card) - obviously amongst many others for smaller amounts, thankfully! - and I'm reasonably sure they're not going to be happy with £1 token payments they're getting in November either. But we can't give them money we don't have. I'd like to think the fact that we're facing up to the problem and starting the process of fixing it will at least count for something - instead of just hiding from it or competely ignoring it and paying nothing.

Yeah I know, it's just the worry now after seeing how little they will be getting that they will either say no, or just continue to charge interest - in which case my payments won't even cover interest and the debt will go up, not down.

Jamesdeer001

Hi!

Having been to the CCCS website, their suggestion for me is a DMP. I have 28k of card or loan debt, of which I can pay £600 a month, so taking about 3.5 years assuming a freezing of interest. I also spoke to CCCS on the phone yesterday and having a councillor meeting set up for Nov 16th.
I think though, the DMP is the best course of action for me and what do get the ball moving asap, so can I go ahead and do this online now or should I wait for the councillor?
How long does the process normally take etc?
I'm in the process of changing my wages to go to a seperate basic bank account and have cancelled all DD's.
I have minimum payments which are due in the next couple of weeks but can't afford all of these or won't be able to live so what is the best thing to do? Make smaller payments to each? Should I phone up the banks and say what I'm doing? What do you say and am I likely to get interest frozen or fees not charged? I'm obviously trying to reduce any extras as much as possible. Which banks are normally the most helpful (I seem to be with most!)? So far, having asked for help from HSBC and Halifax, both have been as helpful as a hole in head, all saying there is nothing they can do and fobbing me off to a different department or reading out the terms and conditions.

I am quite young and hope never to be in the situation again and I'm quickly learning which banks I won't bank or deal with in the future!

Also, how severely does this affect your credit rating and for how long. My DMP would pay back all the debt in hopefully under 4 years.

Thanks in advance, and all or any advice on what I do from here would be really useful. I just want to the right thing as soon as possible!

Northstar68

LittleMissSkint wrote: »

Our half term is finished, the kids were off for two weeks but they went back on Monday.

Well in the post just now I have just received my welcome pack - after I paid online :rotfl:Typical. Oh well, saves a trip to the PO in the rain.

I also got a letter from Cabot (for an Egg loan) one of our biggest creditors, saying they have received CCCS request for repayment and have accepted the new arrangement! :j:j:j They are still charging interest though

Having looked at my welcome pack and some of the offers my creditors are going to be getting I can't see them being happy with them - Two that were getting £150 a month are now going to get £39! :eek: I'm expecting a flood of rejection letters any day now! One step forward, two back.

Hi LMS,

This is going to happen Im sure, they wont be happy about the new payment and will kick up a fuss for a few months and then hopefully it will all calm down and they will stop interest and charges etc. This is the one thing that really worried me, as it stands it is going to take 17 years and 9 months to pay ours off. If they stop the charges it would be less....I hope. Let's hope they play nicely. Have everything crossed for you.