DMP Mutual Support Thread (Part 6)

pure_dead_dopey

aw I agreee, OH just had a bizarre conversation with Hbos, we are apparently paying too much from our DMP to warrant a 0%, so because we are paying more they are charging 6% interest on it!!!! If I live to be 304 I will never understand how the banks work!!!

iwillgetoutofdebt

More good news today. I received my statement from Marbles and they have frozen all interest. That means that Cap1, Egg, MBNA and Marbles have all accepted now, and have stopped interest and charges :j

Just waiting to hear from Mint and Tescos.

To all those who are just starting out, hang in there. I am only two months into my DMP and already feeling so much better about everything.

HardWorkingMum

Hi Everyone!

I am new to this DMP lark... did a CCCS review a few months ago and our income didn't even cover the essentials

Since then I have managed to do some extra work, pay off a small credit card and make some additional savings and the up to date advice is to go with a DMP. Had a long chat with CCCS today so I fully understand it and in honesty it sounded too good to be true. Now reading on here I realise it isn't all going to be smooth sailing, but I think it will be worth it.

The thought of having a basic bank account with no overdraft to stress about sounds like absolute bliss.

Our creditors are
HSBC: personal loan (c£10k) and overdraft (£2k)
MBNA C/Card: £8400
Alliance & Leicester: Overdraft £500

Can anyone let me know what I can expect from them once they are aware that we are arranging a DMP through CCCS?

Also, how long does it normally take to set up (am waiting for the "welcome pack" to arrive and will open a basic account this weekend)?

Soooo glad I found this forum and can't wait to see the numbers start getting smaller!

Melanie

Ooh -and can I have a DMP support group number please???

pure_dead_dopey

welcome Mel

It usually gets set up quite quickly, you have to make sure you have a basic bank account and you should move your essential DDs as quicly as poss, also get your slaries moved over too. We have debts with MBNA and A&L and they were very good, accepted right away and stopped interest BUT you can never tell (see my post above about Hbos), the banks are a law unto themselves. But you've done the hard bit and admitted the problem so hopefully all will go well and you will soon be a debt fee person. Welocme and good luck.

Alfie983

It good to talk to someone who is going through the this at the same time Miss Optimist, I just had a text and email from CCCS saying they have not recieved my payment. I don't understand as I was told my direct debit would be set up from 1st of March, I sent out token payments of 1.00 this month. Has anyone else recieved a similar text? Will this effect my DMP, I really dont want to mess up at this early stage.

Alfie983

crispycornflake wrote: »

Hi Alfie, We have had a default notice from mint (the credit limit has been exceeded due to their interest and charges) despite them being notified of cccs dmp, natwest cc also slapping on the interest and charges left, right and centre and wanting x amount by yesterday!!! Northern rock have accepted with no issues (yet)!! Next accepted, Abbey sort of accepting, Halifax accepting for 3 months on 1 account but 6 months on another, nationwide cc accepeted but wanted payment earlier than cccs pay it :mad: and won't listen to reason, all the the rest egg, creation, clode finance, great universal, empire, cahoot and citi cc are ignoring us, neither a yay or a nay!!! I don't get it, we contacted them all before we missed any payments, made token payment, arranged a dmp through cccs who have notified them all of their repayment amount, we have spoken to most of them by phone also. If we just decided not to pay I could understand it but we are actually trying to pay the !!!!!!s!!! How is it ever going to work if they won't help us? It just seems such a struggle.

I still trying to get my head round the DMP set up, but the general sense from what I read here is that you just have to stick with it and stick to your budget and keep making the payments. I never thought I would say this, but I am having better luck with debt collection agencies than I am with banks, they seem to be more willing to freeze interest and stop charges. Whereas the bank will still try and kick you when you are down. I wish you the best and hope you get some good news soon:)

Could I get a number please!

tinkerbell12

Bailey59,


I have been on a DMP for 2 years and had my second baby 3 months ago. I am on mat leave and it has been tough as my wages are very small now but we have coped in the following ways:

• As soon as we found out we were pregnant, we started building up a little savings fund (not really allowed with CCCS I know) by trimming our official budget even more.
• Bought one pack of nappies and wipes every week in the food shop - hardly noticed it and still using these.
• Had a lot of baby bits from first child but bought from car boots/NCT sales/ebay over the summer.
• Sold loads of bits on ebay and put money into savings.
• Tried to take a mortgage break but weren't able to so have been very lucky to borrow 3 months m/g payments from a relative which we are paying back slowly when I return to work (again CCCS don't know about this but was the only way we could do it.)
• Be VERY careful with money now I am on mat leave.
• Rang CCCS and told them my wages have reduced due to mat leave and took the average wage I will be on over the whole of my leave. Luckily, our payments haven't gone down too much so creditors still seem happy.

Good luck if you decide to TTC. We felt a bit guilty trying whilst in a DMP but so far it has all gone well and I will soon be back at work (p/t) and hopefully payments can continue at roughly the same level.

mozzyc

tinkerbell12 wrote: »

Bailey59,


I have been on a DMP for 2 years and had my second baby 3 months ago. I am on mat leave and it has been tough as my wages are very small now but we have coped in the following ways:

• As soon as we found out we were pregnant, we started building up a little savings fund (not really allowed with CCCS I know) by trimming our official budget even more.
• Bought one pack of nappies and wipes every week in the food shop - hardly noticed it and still using these.
• Had a lot of baby bits from first child but bought from car boots/NCT sales/ebay over the summer.
• Sold loads of bits on ebay and put money into savings.
• Tried to take a mortgage break but weren't able to so have been very lucky to borrow 3 months m/g payments from a relative which we are paying back slowly when I return to work (again CCCS don't know about this but was the only way we could do it.)
• Be VERY careful with money now I am on mat leave.
• Rang CCCS and told them my wages have reduced due to mat leave and took the average wage I will be on over the whole of my leave. Luckily, our payments haven't gone down too much so creditors still seem happy.

Good luck if you decide to TTC. We felt a bit guilty trying whilst in a DMP but so far it has all gone well and I will soon be back at work (p/t) and hopefully payments can continue at roughly the same level.

Hi Tinkerbell

Quick question - how did you manage to keep you payments to the creditors the same? this is what scares me the most, as my payments will definately have to be reduced, as we just make it through each month as it is after paying payplan £700 per month.

thanks for your answer though, he does feel good to know that it can be done.

tinkerbell12

Well they have gone down a bit - by about £100 p/m but creditor's haven't said anything. We have used the saving pot I was talking about and the money from a relative to cover the money I am down on until I go back to work. We have also cut down further on our 'official' budget e.g. now I am on mat leave and not travelling to work everyday, petrol is loads less than budget.

It can be done, you just have to be extra careful.

mozzyc

Thanks for that. Suppose i'll make it work hey!