DMP Mutual Support Thread (Part 6)

cleomolly

Hi guys,Just recvd my first few letters and have a question.....MBNA states 'this arrangements/debt management programme will be reported at the credit referrence agencies for up to 6 years after the balance has been settled in full' I was just wondering what this means, it has confused me as I thought any defaults added now would come off in 6 years, not 6 years from the balance being settled??MBNA has accepted reduced payments and stopped interest for both my cc's, capital one however have been a little funny, but accepted, they have defaulted me, wouldn't have thought they would for a matter of £190 which is what i owe them!!!hope everyone else is having some luck, : ) xx

Cheery09

We are waiting for responses re our DMP and I am dreading it. I think I will need to grow a thick skin.

cleomolly

cheery, I was really dreading it too, but over the weekend had my first 4 letters back, which made me feel a lot more at ease. some of them not so nice, but the nice ones kind of made up for it. It helps me knowing that the nice people on here are always here to offer advice and support if needed : ) x

wildheart82

Hi everyone - I am new to posting here and was hoping for some advice from the experts. I guess you have heard it all before and sorry if you have to repeat yourselves but here it goes...

I have £16,000 debt and have been on a DMP for 12 months now, arranged via the national debt helpline in partnership with Pay Plan. I have only been able to afford £117 monthly payments to be divided up between my several creditors. As you can probably guess - I am not even making a dent in my debt. I am constantly harassed and threatened by my creditors and they are always selling the debt on to different companies - I just can't keep up. It is really getting me down. I just feel totally exhausted with it all and to be honest I have no hope left for reaching an end to it all. Whenever you speak to these people it is clear that they have been trained to confuse you and be as cold as possible. So I just ignore the calls and letters and I'm sure that is making it worse.

I take full responsibility for the situation I'm in, I made a few mistakes, fell foul of a few bad people in my life and buried my head in the sand for far too long. But I really do want to pay as much of my debt off as I can - but I really need to be able to see some light at the end of the tunnel. I am looking into an IVA to replace the DMP - I have recently had a pay rise that would enable me to pay at least £200 a month to my creditors and luckily my job is stable with long term prospects. What do you guys think about IVAs as alternatives to DMPs?

I'm probably in the wrong thread but I could really use your help - I have no friends or family in similar situations and noone else to turn to. ..I'm pretty desperate.

Thanks x

kew63

wildheart82 wrote: »

What do you guys think about IVAs as alternatives to DMPs?

Thanks x

Hi

We're at the point where we're still waiting to find out how big the debt's going to be as some of it we maybe able to write off to hubbie's late father's estate. But once we know for sure then be able to decide whether Bankcrupcy, IVA or DMP is best.

I thought IVA's you had to pay a £5000 arrangement fee, but last week during meeting with CAB they said they could arrange them FOC. As we are thinking along the lines of making F&FS offers to clear debts it may work out best.

Maybe try to see a CAB debt councellor to see what are your options ?

saskia1

Afternoon all

What a gorgeous w/end it was - had a fantastic family dinner in the sun y/day - & actually managed to forget my debt worries for a day!

i must admit being on a DMP has made me feel a whole lot better - i actually sleep at night & no longer jump out of my skin when the phone rings - i actually answer it!! yes - even when i know its ''one of 'em'' (me & hubby speak for our creditors)

i find it so much easier just to tell them exactly what i can pay - my cccs number & when they will expect a payment.

after all - thats it in a nutshell - i cannot miraculousley produce £10000's & my whole attitude to my debt is that i'm dealing with it & all what comes with it - defaults / ccjs - whatever.

(sorry to sound so 'relaxed' about it - to all those who are still terrified of thier phone ringing / letters etc - i've been there - & i've only just started on the dmp route - not even sure whose accepted or not) i'm sure it will get worse before it gets better - but this is my life now & thats that!!!

Big congrats to sunshine on bubba no3!! :j

how i long for that day when i can have a baby (long story - ivf / miscarriages etc etc etc) but thats life & i'm sure our turn will come!!!

another rambling post from me

creditor update - only M & S money harrassing me - even though i spoke with them 2 weeks ago - my home phone had 7 missed calls y/day (was out all day & they will not get my mobile!!)

hope we are all having good days

sas

saskia1

leese2504 wrote: »

Evening,

Hope everyone has had a good weekend, weather has been fab. Just an update HSBC have accepted DMP on one of the credit cards, just to hear back from the others xx

Thars great Leese - makes me feel better about who i work for!! :rotfl:

sas

ianmak

cleomolly wrote: »

Hi guys,Just recvd my first few letters and have a question.....MBNA states 'this arrangements/debt management programme will be reported at the credit referrence agencies for up to 6 years after the balance has been settled in full' I was just wondering what this means, it has confused me as I thought any defaults added now would come off in 6 years, not 6 years from the balance being settled??MBNA has accepted reduced payments and stopped interest for both my cc's, capital one however have been a little funny, but accepted, they have defaulted me, wouldn't have thought they would for a matter of £190 which is what i owe them!!!hope everyone else is having some luck, : ) xx

Hi,

Have they actually defaulted you then? If they have then that's 6 years from when they default you. If you are on an arrangement plan then it could well be that it's 6 years from when you settle?

cheesypuff

Hi everyone haven't been around for a while just been really busy. Most of our creditors seem to have come on board now except for Nationwide who are now sending out letters from KPR debt collectors. I think these are in house does anyone know? Nationwide seem to be real sticklers, has anyone had them come on board?

On a nicer note a relative has booked a holiday for us for Florida for next year which will be great, but I have been reading up on AMerica and it seems to state that a credit card is essential to use in a lot of places. Just wondering how to get around that. I am sure there are people who do not beleieve in credit cards that go so how do they get by? Has anyone been to America while on a DMP and what did you do?

Thanks

saskia1

Me again..

sorry - does anyone know the guidelines for when you can & cannot call people - at work we have the 9.00am to 9.00pm mon - sat rule - - but i've just realised my missed calls from m&s started at 9.10am yesterday.

is there a thread on here somewhere...........

ta all

sas