DMP Mutual Support Thread (Part 6)

smiffy5

hi

i owe the following:
halifax cc 4250
black horse 9000
provident 600
littlewoods 581

i would like to have help with black horse, provi, littlewoods. Can't upset the halifax cos i bank with them and have my mortgage with them and will need to re-mortgage when fixed rate ends.

any help would be great. Are payplan any good?


lesley

katkins2

Hi to all DFW and a belated happy New Year

I've not posted for a while as our DMP appears to be ticking along nicely but I do read all the time. Just wanted to pop by really to reassure all newbies and the still lurkers who are afraid to post that addressing your problems and facing up to your debts will be the best thing you can do for yourself this year.

Although I am still relatively new to the DMP myself, I just wanted to tell you how far I have come in the past few months in the hope that it may help those starting out to know that there is light at the end of the tunnel (all beit a long one in my case lol).

OH and I started our DMP in Sept 09 and I have todayhad my first review with the CCCS. Our monthly payment has only increased by a measly £10 per month (between 5 creditors) and we still have about 8 years to go:eek: however the fact that we are no longer terrified of the phone and the postman really is massive progress. (where's the italics come from????).

I remember in the first few months from our LBM in July to getting our plan set up were pretty horrendous. I don't think I've ever cried and not slept for such a long period of time in my life. The contrast to how I feel today is massive. I now feel confident in speaking to creditors (although this is rare these days) and above all confident that I have done the right thing, am back in control of my finances and am in the process of actually PAYING OFF MY DEBTS!!!!!
We have just done our first Xmas in 10 years without credit and it feels good. Don't get me wrong, we have a very long road ahead of us, we know that but at least now we are on that road.

To anyone reading who is starting out, hang in there, its tough at first but you will be amazed at how much better you feel once you gain control back. Keep coming back here for support. I know that I would never have taken those first steps
if it wasn't for this board and all the suppport from the lovely people on here. Good luck folks

ps....sorry for the novel:rotfl:

ianmak

smiffy5 wrote: »

hi

i owe the following:
halifax cc 4250
black horse 9000
provident 600
littlewoods 581

i would like to have help with black horse, provi, littlewoods. Can't upset the halifax cos i bank with them and have my mortgage with them and will need to re-mortgage when fixed rate ends.

any help would be great. Are payplan any good?


lesley

You may want to switch bank accounts, away from the Halifax (Get a basic account as you can't have an overdraft - or ask for a bank acct without OD), as if you stop paying them the minimum amount, they will dip into your bank account and get it that way. The mortgage is ok as you'll carry on paying the regular amount.

PayPlan are fine, as are CCCS.

iwillgetoutofdebt

Thank-you so much redpolly and katkinns.

I must admit that this is the part I have been dreading. The postie dropped another half dozen letters through the door today - 3 from Egg alone. Plus there were a heap of 0800 numbers on the phone call-log when I got back in at lunchtime.

I guess that my creditors are going to try and keep squeezing me for more money. Afterall, I have been the ideal customer up until now- maxed out on her cards, but always paying on time, and not complaining when they hiked up the interest. I am actually quite angry about it all - angry with myself, but very angry with them. I know there are many who will say that I should keep on going as I have been and pay them back on their terms, but I would never be debt free if I did that. Marbles want to increase my interest rate to 33%, probably because they thought I would keep paying it without complaining. Well enoughs enough, my family's needs are far more important than the banks. I just hope that they accept my DMP as I don't know what I'll do if they don't.

smiffy5

ianmak wrote: »

You may want to switch bank accounts, away from the Halifax (Get a basic account as you can't have an overdraft - or ask for a bank acct without OD), as if you stop paying them the minimum amount, they will dip into your bank account and get it that way. The mortgage is ok as you'll carry on paying the regular amount.

PayPlan are fine, as are CCCS.

thanks I have a basic bank account with them anyway but intend to carry on with the payments for the Halifax cc. It's the other 3 that are crippling me.
Just don't know how to start this and how long would it be over?
Can you ask for a certain amount of time or do they tell you?
Sorry so many questions.

Lesley

smiffy5

oh forgot spoke to black horse as i was 194.00 in arrears and they have agreed to add it onto the end but i will be charged 30 quid per month til arrears are paid off.

katkins2

smiffy5 wrote: »

thanks I have a basic bank account with them anyway but intend to carry on with the payments for the Halifax cc. It's the other 3 that are crippling me.
Just don't know how to start this and how long would it be over?
Can you ask for a certain amount of time or do they tell you?
Sorry so many questions.

Lesley

If you decide to go down the DMP route, then all debts have to be included as all creditors need to be treated fairly.

To get started you will just need to call them or CCCS have an online facility called debt remedy.

Basically, the way it works, they look at your income and your priority debts and bills (mortgage/rent, council tax utilites etc) Then they look at your household expenditure, food, petrol etc and whatever is left is paid to them on a monthly basis. They then distribute this equally amongst your creditors. The amount of time it takes to pay off depends on many things eg how much money you have to pay each month, how much your debts are and if the companies freeze interest and charges.

Hope this helps, good luck.

Shazza_D

Hi,

Have just started a DMP with Payplan this month and my first offers have just gone out. Still waiting to hear from most of them but Mint have rejected the offer straight away.

Has anyone had any experience with Mint and what is likely to happen next?

the_tooth_fairy

Well said Katkins, I think you speak for all of us!!

Shazza, My OH and I both had Mint c/cs. They accepted the offer although it took a while, it also was 3 months before they stopped interest (they wanted to terminate our contract first). All I can say is just hang in there, keep in touch with Payplan, they are good and they have really helped us.
Keep posting and good luck to all the other Newbies
ttf x

Twit_Head

Happy thought - do these continuing sub-zero temperatures mean those of us with added charges and interest will find them frozen???
(Everthing else is round here!)

Hello to all and welcome to the newbies also.

'Twitty'