DMP Mutual Support Thread (Part 6)

thewad

Gpuk

Didn't realise they accepted DMP's for that length of time.
Thought over 10 years and they refuse it.

John

iwillgetoutofdebt

Just logged onto my Nationwide account, and can see that the first months stading order for my DMP has been paid, so I'm really on my way to being debt free :j (only another 5 years to go)

I have also had 2 letters and 2 emails from Egg, informing me that my direct debits have been cancelled. Well no !!!!!! Sherlock, I did that and sent you a letter informing you that I was doing so and gave you my DMP reference number :mad: Ah well, I guess that I am going to have to expect this sort of thing over the next few weeks.

maxmax

Gpuk wrote: »

Manmax I am with Payplan and owe about £34000 ish I pay them £108 a month and all have accepted the payments and stopped interest apart from Barclays bank but I am still dealing with them at the moment and hoping they will stop soon!

A question for all DMP'ers. I don't have a mortgage as our property was left to us by my late father in law. But how does a DMP work when you have a mortgage, i'm asking for a friend of mine who is really struggling with debt and has a young child and another on the way! She works with me 2 days a week so probably earns in the region of about £420 a month but will go down when the baby comes and her OH is self employed and takes home around £1600 a week. I know their mortgage is about £700-750 a month but they also have quite a few CC's and have defaulted on these and their mortgage, council tax etc quite a few times they also struggle to pay gas and elec bills . I have told her all about DMP's but she is very scared about doing this especially how it would work with a mortgage, but I couldn't really answer any of her questions in this department.

Do you put your mortgage into your DMP? or do you have to keep paying the full amount? Also what happens when you come to re-mortgage? will anyone give you another one??

Thanks

hi Gpuk,thanks for the advice!
reg your friends mortgage....your mortgage doesnt go onto the dmp and she would have to keep paying the full amount,but like us if she is struggling to meet mortgage commitments,se really needs to act now,before its too late,
i think it would be hard to get a mortgage with another lender while you are on a dmp,
im still new to this myself,so feel free anyone, to correct me,
hope this helps
maxmax

mummum2

maxmax wrote: »

hi Gpuk,thanks for the advice!
reg your friends mortgage....your mortgage doesnt go onto the dmp and she would have to keep paying the full amount,but like us if she is struggling to meet mortgage commitments,se really needs to act now,before its too late,
i think it would be hard to get a mortgage with another lender while you are on a dmp,
im still new to this myself,so feel free anyone, to correct me,
hope this helps
maxmax

Maxmax is right can't add mortgage arrears onto DMP. You'll have to continue to pay this as it's a priority. You're creditors i.e. credit cards, loans etc, will have to get token payments until you sort out a DMP provider who will liaise with your creditors to hopefully accept.

As for re-mortgageing, this can be done, but might have to be with a sub-prime lender.

MM2

Gpuk

Thanks, I will let her know...1 question....what is a 'sub-prime lender'???

bongo1

Can I have a number please:j

Gpuk

thewad wrote: »

Gpuk

Didn't realise they accepted DMP's for that length of time.
Thought over 10 years and they refuse it.

John

Oh I didn't know that?? well they all accepted mine, I must admit I was quite suprised!!

iwillgetoutofdebt

Could I have a number too please :beer:

Also, could anyone give me some idea how long the calls from the creditors go on for? This afternoon I have had a barrage of calls from MBNA and Marbles, not to mention emails. I did speak to one woman from MBNA who was extremely rude, and did not seem to listen to me when I explained that I was on a DMP. I hung up on her in the end, and unplugged the phone. I am seriously considering changing our phone number if this is going to go on for months on end.

newbeginning_2

Can I have a number too please????

Nearly all my creditors have gone very quiet, apart from Halifax - received SIX letters from them yesterday!!!, and Barclaycard keep ringing, but I'm not answering anymore!!

I only sent my letters just before xmas, but none of them have sent anything to acknowledge the letters, Is that normal??

samthemainman

Re: MBNA - call them and speak to collections and ask to speak to someone about financial difficulties. When I did that, I got put through to a nice lady, who i told I was getting advice from CCCS and was being put on a DMP, she asked for my ref number and suspended calls for 30 days I think. MBNA were the first to accept my DMP - and I have over 3K on a credit card with them. Stick at it and good luck.