DMP Mutual Support Thread (Part 6)

pure_dead_dopey

mrs:optimist wrote: »

Thanks! It's good to know that we are not the only ones in this situation, such a cliche but true! I'm looking forward to getting to know everyone

Hi Mrs

Things will get better, we have a huge debt pile and are a bit ahead of you on the DMP, so far most have accepted and NO ONE has been horrible on the phone, they have all been really helpful. The best thing is,we are now in control, and can see an end to this, although DFD is 2020!!! The first thing to do is definitely speak to one of the chartities, CCCS are great. Keep posting, we have a thread for those all starting together over on NATAZ's thread so you might want to read that as we're all at a similar stage. One other tip, read everything and get all the facts then you can work out (to a certain extent) what they actually mean on these letters, either that or a quick degree in double dutch! Go on!!!:T

JoJoB

We started the DMP with payplan in September, so far 2 creditors have accepted, (egg and blackhorse) while others have seemingly ignored it, and one (mbna) has rejected the offer.

OH rang MBNA yesterday to find out where he stood and was told they would accept another £11 a month which would clear the debt in under 10 years. OH is keen to do this but I'm worried it might muck up the rest of the DMP - would the other creditors get wind of this extra payment if it was done separate from the dmp payments?

It is hard work explaining stuff to OH sometimes. His wages go up in a few months so we could probably afford an extra £50 per month which would bring down the length of the dmp from 14 years to 10 years, but he is resistant to offer this just yet (as I think it's not certain).

MBNA have said if he can't do the extra £11 then they will issue a default next month and pass debt on to a local dca - anyone been at this stage with mbna and know what happens? Thanks!

mamajojo

:AHello good and lovely people who have given me hours of unknowing help and support over the last few lurking weeks!

We are going for a dmp with cccs - low start I think £276 for £40k but dh is seeking promotion and I am looking to return to work when ds1 starts school with dd and we will only have the other ds needing full time childcare. The first pack with letters to send out has arrived, so we are looking at a 1st march start date.

LBM was beginning of this month, its been flickering for a while but we've been stupid selling stuff, cashed in a saving plan etc to pay cc bills instead of facing it full on.

We've pretty much been living off credit to live after we've paid all bills, since our second and third children arrived...how I wish I'd never seen a cc:eek:.

CCCS advised a iva inially but as dh is the only one working and the debts in his name are less than mine they thought it wouldnt go through as they would say it was unfair to them especially mbna...
who have just been on the phone, given them our cccs number and they've said they'll be back in touch in 4 days if they don't hear from them by then...they have had a letter also asking for 30 days to let us sort selves out...
The iva board got me through inital terror, and phone fear. Now doing better at ignoring 0845 / international numbers but being armed with the cccs number does seem to help.
Just had long call with lovely person from m&s nice and non stressful?!

Got loads of questions but just wanted to say hello and Thanks!

grantalien

Been on my DMP with payplan for approaching 3 months of payments - half have accepted, 1 is being pushy but I have heard nothing at all from the remaining creditors, is this a good sign? - will some accept but not officially to payplan?

thanks

pure_dead_dopey

morning

they all seem to be different, some seem to accept to CCCS, and some send you the letters. I think you are doing OK, keep fingers crossed.

grantalien

pure_dead_dopey wrote: »

I think you are doing OK, keep fingers crossed.

wouldn't it be great if there was some sort of regulation for response and route ways for action. All have stopped calling me bar the awkward one (Nationwide) - its so frustrating not to told whats going on!:mad:

its forums like this that help people negotiate difficult times, they are a lifeline and a great way to discover what reallly happens

cheers - will keep posting and updating :beer:

mrs:optimist_2

ianmak wrote: »

Oh, and I recommend going to bed, late nights are never good....

Oy cheeky chops! lol, looks like you are a fellow night owl! We can keep each other company in the early hours. I'm lucky to have a 2 year old that wakes up at 9.30am so I do get some sleep, honest...

mrs:optimist_2

pure_dead_dopey wrote: »

Hi Mrs

Things will get better, we have a huge debt pile and are a bit ahead of you on the DMP, so far most have accepted and NO ONE has been horrible on the phone, they have all been really helpful. The best thing is,we are now in control, and can see an end to this, although DFD is 2020!!! The first thing to do is definitely speak to one of the chartities, CCCS are great. Keep posting, we have a thread for those all starting together over on NATAZ's thread so you might want to read that as we're all at a similar stage. One other tip, read everything and get all the facts then you can work out (to a certain extent) what they actually mean on these letters, either that or a quick degree in double dutch! Go on!!!:T

Thanks for letting me know about the thread, it's great to hear from someone who is ahead of us on this journey. I woke up this morning feeling a lot more positive about things.

I am hoping to speak to all creditors on the phone in a calm way, explaining that we do want to pay back every penny that we have borrowed and are doing the best we can. After that if they harrass me or make nasty calls then we will either change our number or simply unplug the phone!

I don't mind dealing with calls as long as they don't phone too early or late and wake up my daughter (who is only 2).

mrs:optimist_2

Another little update, last night I did some calculations, and it has made me stress again about giving up my job (which I have been strongly advised to do by my Dr and DH).

On DH's salary alone, assuming that all creditors freeze interest (which I know they might not, but I will assume for the sake of this calculation) then it will take 15 years to pay off our debts.

With me working, that changes to 4 years.....eeeeeeeeeekkkkk!!! How can I stop working knowing that? But how can I carry on working when it's really affecting my health and family life?

My DH has rationalised it by saying that I will be able to go back to full time work in a few years time (3 or 4 years, when DD starts school) so at that point we can really whack money into it, possibly as much as an extra £1000 per month so in the long run we will catch up with it and it will never take as long as 15 years.

Plus, my DH is in line for a promotion to Manager soon and is hoping to make Director within 10 years (he has been told he is definitely on the right track to doing this by his MD). So he has great prospects and it's not like we will have no chance of decreasing the term.

It's still all so worrying though! Wondering whether you are doing the right thing, whether I should just get my head down and struggle on for a few more years, hoping for the best that my health and marriage doesn't deteriorate?

I just keep telling myself to wait and see what the CCCS councellor says on Monday when s/he calls.

pure_dead_dopey

Mrs , Please take the path which is best for you. The OH and and I are in our 50s and we are fast runinning out of options, We tried to keep the debt going and it is huge, so get it sorted so that you are not left with no options. Its only money, you are much more important