DMP Mutual Support Thread (Part 6)

cloudy-day

cloudy-day wrote: »

Hi, been on a self managed DMP since Aug last year - best thing I've ever done, well if I hadn't I'd be bankrupt.

All creditors have accepted (some after a fight) and stopped interest, but now I realise that I underestimated costs. Notably DS's shoes. He is 10 and has extra wide big feet - last pair of trainers cost £48 :eek: searched everywhere but that was the only pair I could find. Also the household fund has been hit by needing a new (well second hand) washing machine and roof repairs due to the heavy snow - didn't claim on the household insurance as it was below the excess but still enough to hit the budget.

My wages haven't increased this year (reviewed this month), fuel and council tax are the same but bus fares, food and clothes have all gone up.

So I need to reduce my payments by about 20%. No choice. Does anyone have experience of this?

Also, DH doesn't know (and never will - for reasons way too personal and complicated to reveal here). We both have a Tesco credit card, I've kept mine (don't use it, just pay the min) but I'm gonna have to bite the bullet and add it to the DMP. If I do that will it affect DH's?? Both at the same address but separate accounts.

Feeling v v low, just when I thought it was OK I realise that I can't survive on the amount I set. I don't go out, don't buy myself anything new and hate my job.

Can someone give me some words of wisdom to pull me out of this despair please?

Sorry to hassle but I'm worrying myself sick (literally) over this. Does anyone have any experience of lowering agreed DMP payments or credit cards with the same provider for 2 people at the same address where one is on a DMP and the other isn't?

Thanks again

mummum2

cloudy-day wrote: »

Sorry to hassle but I'm worrying myself sick (literally) over this. Does anyone have any experience of lowering agreed DMP payments or credit cards with the same provider for 2 people at the same address where one is on a DMP and the other isn't?

Thanks again

Hi sweetie,

I have no idea I'm afraid, but just wanted to bump for you and hopefully someone will come along to help at least put some of your concerns to rest.

MM2

funkyfish586

hi all, just a quickie, we set up our DMP 3 months ago, i havent heard from them for 2 months. Is this normal? i take it they will contact me if they need anything?

I have access to the Just a bank & can see my offer status to creditors is still pending but thats only been like that for a month. Does it sound like everything is going ok? we have made 3 payments to payplan x

newbeginning_2

Hi, I don't think the credit cards would be a problem if it is 2 separate accounts and not just one account with 2 cards. The 2 accounts would be ran totally separate I would have thought.

That's only what I think though but someone will be along shortly that knows more.

As for lowering payments can't offer much on that I'm afraid but I'm sure I've read somewhere around here that people have done the same without any problems.

newbeginning_2

Funkyfish - I'm not with Payplan but can you see that they've received your payments and who's getting how much? If you can see that it's probably all fine, sometimes the creditors take a while to accept/decline.

cloudy-day

newbeginning wrote: »

Hi, I don't think the credit cards would be a problem if it is 2 separate accounts and not just one account with 2 cards. The 2 accounts would be ran totally separate I would have thought.

That's only what I think though but someone will be along shortly that knows more.

As for lowering payments can't offer much on that I'm afraid but I'm sure I've read somewhere around here that people have done the same without any problems.

Thanks - thats what I would hope too.

Gemmzie

It hasn't been a problem for us.

Dad has been on a DMP since 2007 and mum has some credit cards with the same providers. Totally separate.

cloudy-day

Gemmzie wrote: »

It hasn't been a problem for us.

Dad has been on a DMP since 2007 and mum has some credit cards with the same providers. Totally separate.

Thank you so much for your reply.

Setting up the DMP wasb't too bad and I coped well. However the thought of going back to the creditors is just churning my tummy.

thestealer

I got my new, financially separate account this morning so am currently in the process of changing over income and essential payments into this account. Slightly unfortunately, in order to get things moving quickly I had to go for a current account, albeit with no overdraft facility whatsoever...the girl in A&L even tried to flog me a credit card, I politely declined. Their basic bank account can take up to 2 weeks to get going and to be honest, I'm just not that patient. Plus I'll get the added bonus of INTEREST paid to ME on an account in the BLACK!!! :eek:

Next step, phone the CCCS with updated budget information, cancel direct debits, make token payments and I'm ready for the inevitable whatsit hitting the doodah.

The adventure starts here!

glitterlea

I haven't been on her for a while but I'm wondering if anyone can help/advise me on Lloyds bank!!

All my other creditors have agreed to stop the interest with the exception of Lloyds! I have a cc and a loan with them and when I checked my statement, I owe them more now than I did when I started my DMP last June! :mad:

Has anyone had any success with Lloyds stopping interest? Is there a template letter I can use?

Thanks in advance
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