DMP Mutual Support Thread (Part 6)

bigmommamuppet

Hi twitty,

We did it online and it was as expected, littered with defaults and arrangement to pay type things. We're going to look again in a years time to see if things are starting to improve slighty as all our creditors have defaulted us. Not that we want credit but I would like to remortgage at some point (we're on SVR with NR so not the most competitive at the moment but we've no choice but to stick with them)

Becks

crispycornflake

Hi everyone,
just a quick update, spoke to egg today, advised them we had cancelled dd and contacted cccs, could not believe how helpful they were. They accepted the £1 token payment and said to phone them back as soon as we have cccs reference number and they will stop all interest and charges for 30 days while they wait for cccs to contact them. I am sure not all creditors will be as good to deal with but it's a positive start. :T

twiglet98

After weeks - months - of sick fear and head-in-sand inertia I am psyching up to trying the CCCS online thing tomorrow (too late and too tired when home from work on weekdays, but otherwise when off Friday pm).

Just wanted to say Egg were impressively helpful when I asked them to reschedule my payment date, so I really hope they'll be as nice about a DMP if CCCS think it's an option!

crispycornflake

hi twiglet, good luck i'm sure you'll be fine with egg. I was dreading it but I got myself together, phoned collections and they were really helpful. Good luck, x

ianmak

Twitty, I signed up to the free trial of Credit Expert (By Experian) Offers more than just your credit report I think, which was pretty nifty. But I think Experian and Equifax all off similar things, and if you use Quidco, then you could get money back too (not much, but hey...).

Merecat_2

MAXMAX

1) i am a self employed taxi driver,is it harder to be accepted on a dmp if you are self employed? how do i prove my income if i only have 2008/2009 accounts that would be lower than what i am earning so far this tax year?

I am self employed, when I had my phone interview with cccs they basically asked how much I had earned in my last year. They then worked out how much it takes to run my business and home and what was left is my payment to them. They have self employed specialists there. I advise for you to call them and see what your options are, you are under no obligation to do anything.

Good luck and if I can help you any further please feel free to ask.

xx

maxmax

Merecat wrote: »

MAXMAX

1) i am a self employed taxi driver,is it harder to be accepted on a dmp if you are self employed? how do i prove my income if i only have 2008/2009 accounts that would be lower than what i am earning so far this tax year?

I am self employed, when I had my phone interview with cccs they basically asked how much I had earned in my last year. They then worked out how much it takes to run my business and home and what was left is my payment to them. They have self employed specialists there. I advise for you to call them and see what your options are, you are under no obligation to do anything.

Good luck and if I can help you any further please feel free to ask.

xx

thanks for the advice Merecat!!!.....:j

maxmax

bigmommamuppet wrote: »

maxmax wrote: »

1) i am a self employed taxi driver,is it harder to be accepted on a dmp if you are self employed? how do i prove my income if i only have 2008/2009 accounts that would be lower than what i am earning so far this tax year?

- Not sure on this one but there are plenty of SE peeps on here so they'll hopefully be along shortly to give you some advice

2) are we likely to face court action by our creditors?
(have any of you guys been brought to court by your creditors because you went onto a dmp?)

- Yes it's a possibility court action is rare but it can happen but it's not a scary as it sounds (not that I have had the experience of it).but the courts will only agree to a repayment that you can realistically afford which will usually be the payment that your making through the CCCS therefore
3) what does the whole dmp process involve for eg if we phoned the cccs today,how long does it take for an arrangement to be made with our creditors,

- Most DMP's are set up within 2-3 weeks. i.e. once you fill in the debt remedy plan and agree to go into a plan the CCCS will send you a welcome pack with your budget details. You the return the paperwork with your recent payslips/ SE accounts and all your creditor details incl acc no's and estimated balances. Don't worry if you don't have recent statements you can use online print outs and copies of original loan agreements. Once that's been processed you make your 1st payment at the beginning of the month. i.e. if you started the ball rolling this week you could start your plan by the 1st of Feb.

4) is there a possiblity that we could loose our house,we have little or more than likely negative equity at the moment,

- You may get a charging order against your house which again sounds scary that it actually is. (Just means if you were to sell them the creditor would have to be paid from the proceeds of the sale. It can affect remortgaging but whilst on a DMP most people don't tend to remortgage)

our creditors are
abbey o/d and credit card and loan
mbna cc- been really good with us and stopped all interest and charges for 3 accounts.
2 barclaycard cc
halifax cc
ulsterbank cc
bank of scotland loan and cc - HBOS for us again really good and stopped all interest and charges for 4 accounts
alliance/leicster loan
argos store card and cc
QUOTE]

Hi there max and welcome aboard the good ship DMP, hopefully I've been able to answer some of your questions see above.

Take care

Becks

thanks very much bigmommamuppet ....very helpful :T

maxmax

crispycornflake wrote: »

Hi max,
Sorry i can't really help much, we are only just starting off like yourselves. We have done the cccs online debt remedy which suggested either an iva or low start dmp, for the time being to give us some breathing space we have opted for the dmp. This was only a few days ago though and we have'nt had any paperwork through from cccs. I do know if you have any credit outstanding with your current bank you will have to open another bank account so they can't get at your money!!! Make sure it's an account with a bank who you do not owe anything to, a basic account is recommended, such as co-op cashminder. I have already done that, you apply over the phone, takes about 10 mins and paperwork/debit card comes through within about a week. I will keep posting with progress and no doubt more questions when I get more info through from cccs, take care for now

thanks for your kind words and encouragement!!!!

maxmax

would just like to thank everyone who has given us encouragement and advice:j

i took the plunge and phoned payplan today:eek:,the nice lady took my details and arranged a time for someone to call me on monday!!!:eek:.....
do any of you know if payplan are any better or more reputable than cccs or vice versa?

we have approx 38k worth of debt ( currently paying £1150 per month.....i know it varies from person to person....but would any of you guys know what a rough acceptable monthly payment would/could be on a dmp,

thanks again guys....girls,
we genuinely wouldnt have came this far if it wasnt for all your help.
max.