DMP Mutual Support Thread (Part 6)

the_tooth_fairy

elsie52 wrote: »

Hi,

Has anyone else had their offers rejected after being on DMP for over 2 years?. We have been with Payplan for over 2 years, and have reduced our debt from £74k to £33, we have about 22 months to go. Now, after our yearly review, and our new financial statements, including increased offers, have been sent to our creditors. 3 of them have rejected their offer. We are now paying over th minimum payments?.. has anyone got any experience of this happening, and if so what happens next?

Thanks for any help.

Blimey, Elsie, £77k to £33k is some going! It must be great with just 22 months to go, at least you can sort of see an end to it all. We are only 7 months in and our predicted 'end date' is Nov 2014. Can I ask if Payplan wants Bank Statements now or just the usual Outgoings stuff? OH is due a back dated payrise soon, and I sort of had plans for it...

Again, very well done you! :T

ttf

ianmak

the_tooth_fairy wrote: »

Blimey, Elsie, £77k to £33k is some going! It must be great with just 22 months to go, at least you can sort of see an end to it all. We are only 7 months in and our predicted 'end date' is Nov 2014. Can I ask if Payplan wants Bank Statements now or just the usual Outgoings stuff? OH is due a back dated payrise soon, and I sort of had plans for it...

Again, very well done you! :T

ttf

They'll ask for incomings (is that a even a word?) and outgoings, but they've never asked for proof. I'm 18 months(ish) in, if that helps...

elsie52

the_tooth_fairy wrote: »

Blimey, Elsie, £77k to £33k is some going! It must be great with just 22 months to go, at least you can sort of see an end to it all. We are only 7 months in and our predicted 'end date' is Nov 2014. Can I ask if Payplan wants Bank Statements now or just the usual Outgoings stuff? OH is due a back dated payrise soon, and I sort of had plans for it...

Again, very well done you! :T

ttf

HI ttf

No, Payplan never ask for bank statements or wage slips. To be fair, they take our figures that we give them without question. My Oh sometimes gets extra, but its not guaranteed so we don't disclose it, and there is one thing that I have learned, if you've got a bit extra, save it towards full and final offers.

Elsie

Rhian82

Yes I'm sure in the paperwork it says to only include things like overtime payments if they're regular.

I do freelance work on top of my salaried job, and I've included a bit on my forms for that, but on months when I get more I just save some, spend some. It can vary so much there's no way I could really include it all in my budgets.

the_tooth_fairy

Thanks, Ian, Elsie and Rhian, we are of course playing by the rules with Payplan (what else is there?) but it is just reassuring to know that if there are a few pence left...

Ian, incomings IS a word.

ttf x

Hopelessly_Hopeful

Hiya

First post here.

Thank you so much for those of you open enough to share your stories and patient enough to share your wisdom. Have been back reading the thread for the past few days almost without rest!

In a bit (lot) of a mess here. Wrote a cheque transfer and then called my bank of many years and fessed up and asked for a consolidation loan. They declined and in appreciation of my honesty slashed my cc limit with them! So much for honesty being best policy, zero loyalty.

Can't see any other option than dmp, iva or br.

Defo need to get something sorted very soon given cheque just bounced.

Tried to open coop cashminder but you can't do online and I'm working for weeks. So applied for regular coop account online - decision takes five whole days, crumbs. Please can anyone tell me if they don't accept this if it will still then consider me for cashminder account?

HH xx

DizzyDizzy

I applied for a Barclays Bank account online and they thought I wanted a regular account with an overdraft, probably me filling in the online application wrong!

Anyway, they declined an ordinary account and sent me the paper work for their basic account with no overdraft. So although it's a different bank I would imagine that co op would probably have the same stance, and the would let you have the basic account. After all, if you're not a.sking for an overdraft you're not asking for credit

HTH
Dizzzy

Chrisblue1962

Hopelessly_Hopeful wrote: »

Hiya

First post here.

Thank you so much for those of you open enough to share your stories and patient enough to share your wisdom. Have been back reading the thread for the past few days almost without rest!

In a bit (lot) of a mess here. Wrote a cheque transfer and then called my bank of many years and fessed up and asked for a consolidation loan. They declined and in appreciation of my honesty slashed my cc limit with them! So much for honesty being best policy, zero loyalty.

Can't see any other option than dmp, iva or br.

Defo need to get something sorted very soon given cheque just bounced.

Tried to open coop cashminder but you can't do online and I'm working for weeks. So applied for regular coop account online - decision takes five whole days, crumbs. Please can anyone tell me if they don't accept this if it will still then consider me for cashminder account?

HH xx

Hi, you may need to apply over phone for Cashminder as they may not automatically offer you one. You will also need to visit a branch with ID. Mind you, Co-operative Bank not exactly flavour of month with me at the moment - see my DFW diary...

ianmak

Hopelessly_Hopeful wrote: »

Hiya

First post here.

Thank you so much for those of you open enough to share your stories and patient enough to share your wisdom. Have been back reading the thread for the past few days almost without rest!

In a bit (lot) of a mess here. Wrote a cheque transfer and then called my bank of many years and fessed up and asked for a consolidation loan. They declined and in appreciation of my honesty slashed my cc limit with them! So much for honesty being best policy, zero loyalty.

Can't see any other option than dmp, iva or br.

Defo need to get something sorted very soon given cheque just bounced.

Tried to open coop cashminder but you can't do online and I'm working for weeks. So applied for regular coop account online - decision takes five whole days, crumbs. Please can anyone tell me if they don't accept this if it will still then consider me for cashminder account?

HH xx

I got turned down for their current account (but still got 7 quid from Quidco for my troubles). I then went to a branch and opened a cashminder account, but all the women did was fill out the application, and it still had to be approved, so you should be able to apply over the phone.

Hopelessly_Hopeful

Thanks Dizzy, Chris and Ian.

Heads so fuddled I can hardly think straight. Desp to get on and sorted so my wages don't have to get paid into zero loyalty bank.

Will sort dmp application in the morning. Going to be on a steep learning curve I am sure. Please may I join the thread, sorry to have just jumped on earlier and been all me me me.

Hope everyone is having a lovely weekend

HH x