DMP Mutual Support Thread (Part 6)

lauren123

newbeginning wrote: »

Lauren You'll be fine, you're making great progress already, just make sure you get the new bank account up and running

Yes I will be phoning co-op tonight and see If they have made a decission about the account! If not I'll have to ring around! x

Erme

CAP are a free debt busting charity that basically do DMP's - Christians Against Poverty....

I found their initial budget last year mega hard (but then I was spending at least £20 a week plus on food and they don't allow cigs) and I found losing my control hard too..

If you have the time and feel like DMP is getting the better of you try taking back some of the control by going busking (penny whistle is about the easiest) or like doing the click stuff on here to earn extra...you only need a few quid of 'your' money a week that's not DMP allocated and it can make all the difference when it's getting you down...

Other cheap treats =

FREECYCLE for stuff you need

Freegan dumpster diving for food (late night bargains)

Looking in gutter for pennies (and above) and other goodies (though not sure if this is 100% legal) or down the sides of the seats on buses/trains...

E

Twit_Head

ianmak wrote: »

On a separate note, I've met a nice lady who doesn't seem to be bothered about getting wooed with dinners and treats etc, which is also saving me money... at the moment anyhoo...

A woman to treasure! Hope all goes well for you both. But always remember that 'Diamonds are a girls best friend'

'Twitty'

boxofkittens

Hello again, and thanks for everyone's help so far!

I read through the Debt Remedy pack again last night and have some more questions, wonder if anyone can help?

What is life like AFTER a DMP? Can you get normal bank accounts etc?

What is Transcash and what is the charge the Post Office makes for a Transcash transaction?

What do I do first - apply for a new bank account or get the DMP?

My loan payment is due on the 26th. If I don't have a DMP in place by beginning of June I will be making myself intentionally homeless - should I cancel my direct debit and wait for the DMP pack with the letters, even if it means missing the payment date?

Our circumstances are about to change (rent is likely to be almost tripled on June 10th), should I go ahead with the DMP at the current rate of rent and amend on June 10th? I am also waiting on a meeting with our council housing options advisor. Not sure what to do first, feel sick with worry.

Any help or advice gratefully received! Thanks.

Jilksy

Hello!

I'm new to this and have a few questions about going on a DMP with CCCS.

I have debt of approx £18k and have been offered a monthly contribution from CCCS of £500 per month over 3 years. My thoughts are:

a) that is a lot of money! It basically leaves me with £250 per month after rent, utilities, bills and a very basic food budget (which in reality i'm probably underestimating). The thing that worries me is not being able to cope with any unexpected expenditure like car repairs (and yes I do need it!) or any unexpected bills. The plus side of course is being debt free after three years, which is nothing really.

b) Is this £500 per month for three years more or less guaranteed?

c) I'm a bit confused about how it all works. From what i've read on here, the creditors don't have to accept the offers from CCCS and interest and charges continue to be applied until you may end up with a CCJ. Do CCCS support you while this is going on? How does any outstanding interest or charges ever end up being resolved and a line drawn under it? What do you do with all the correspondence you receive from the creditors eg late payment letters and over-limit statements?

d) I'm currently with Barclays, including overdraft. According to the quote i've just got from CCCS, Barclays will allow you to keep on your account if you enter into a DMP with CCCS. Does this apply for accounts with attached overdrafts too?

e) If I end up needing to, is trying to get a basic account set up relatively painless? I Can see them all refusing me!

I'd appreciate any advice. This needs to be sorted out once and for all.

3431Anna

I cancelled by direct debit to egg card and paid a token payment to them, they have now contacted my asking me to reinstate my direct debit as it is part of the terms and conditions that a direct debit is available for the payments they haven't mentioned the Debt Management plan 'm not too sure what to do next and would be greatful for any advice

jenevieve

Jilksy wrote: »

Hello!

I'm new to this and have a few questions about going on a DMP with CCCS.

I have debt of approx £18k and have been offered a monthly contribution from CCCS of £500 per month over 3 years. My thoughts are:

a) that is a lot of money! It basically leaves me with £250 per month after rent, utilities, bills and a very basic food budget (which in reality i'm probably underestimating). The thing that worries me is not being able to cope with any unexpected expenditure like car repairs (and yes I do need it!) or any unexpected bills. The plus side of course is being debt free after three years, which is nothing really.
When you set your monthly budget with CCCS, things like car repairs should be included. (Mine is £10 a month). Every bill and outgoing is broken down and accounted for. CCCS often err on the side of generosity and so any extra in some areas can be used elsewhere as needed. It is probably worth talking it through in detail with CCCS. The idea is to be able to live sensibly and within reason and then you are more likely to continue happy with the DMP.

b) Is this £500 per month for three years more or less guaranteed?
It depends on if your income and outgoings change at all. Again, any changes to your income or to any of your outgoings should be discussed with CCCS and then the payment can be amended up or down. It's best to be consistent as much as possible to show your creditors you are serious and committed though.

c) I'm a bit confused about how it all works. From what i've read on here, the creditors don't have to accept the offers from CCCS and interest and charges continue to be applied until you may end up with a CCJ. Do CCCS support you while this is going on? How does any outstanding interest or charges ever end up being resolved and a line drawn under it? What do you do with all the correspondence you receive from the creditors eg late payment letters and over-limit statements?
The creditors don't have to accept - you are right but because you are showing commitment and willingness to seriously pay off your debt, many come on board after a few months. People have had different experiences with different creditors. The majority of my creditors are on board and have reduced interest significantly. Some have stopped it. Re the correspondence - I have kept all the default notices I have been sent in a nice blue file......
I'm afraid I don't know much about CCJs. They have an excellent page on their website that talks you through what creditors may do and how they may proceed.

d) I'm currently with Barclays, including overdraft. According to the quote i've just got from CCCS, Barclays will allow you to keep on your account if you enter into a DMP with CCCS. Does this apply for accounts with attached overdrafts too?
Don't know this one - someone else will be able to answer though....

e) If I end up needing to, is trying to get a basic account set up relatively painless? I Can see them all refusing me!
Apparently, the Co-Op basic account is a good one for those with DMPs. Again, someone else with more experience will be able to expand on my answer.

I'd appreciate any advice. This needs to be sorted out once and for all.

Hi Jilksy
I'll answer what questions I can and then I am sure others will answer what I can't.
Hope I've helped.

Jen x

jenevieve

boxofkittens wrote: »

Hello again, and thanks for everyone's help so far!

I read through the Debt Remedy pack again last night and have some more questions, wonder if anyone can help?

What is life like AFTER a DMP? Can you get normal bank accounts etc?
I dream of life after my DMP....*sigh*.....am only a year in myself and sure someone who knows can answer this.

What is Transcash and what is the charge the Post Office makes for a Transcash transaction?

What do I do first - apply for a new bank account or get the DMP?
It makes sense to get the basic bank account set up first so you know it is there and will save you time organising it afterwards. Make sure to get a basic one without any frills attached.

My loan payment is due on the 26th. If I don't have a DMP in place by beginning of June I will be making myself intentionally homeless - should I cancel my direct debit and wait for the DMP pack with the letters, even if it means missing the payment date?

Our circumstances are about to change (rent is likely to be almost tripled on June 10th), should I go ahead with the DMP at the current rate of rent and amend on June 10th? I am also waiting on a meeting with our council housing options advisor. Not sure what to do first, feel sick with worry.

Any help or advice gratefully received! Thanks.

Someone much more wise than me will be along to answer that one......I would call CCCS and ask them for advice. You don't want to be homeless!!!
Rent and mortgage are considered priority payments above all else.

Good luck and hang in there. It really does get a bit easier once it is up and running.

Jen x

jenevieve

I received a lovely email from CCCS happily reducing my DMP for one month......no bother.

They have suggested I directly ring my creditors to tell them though which is slightly nerve wracking as I have never spoken directly to any of them and did it all by letter.....:eek:

Thank you for the advice and reassurance about it though, much appreciated! :T

cocker100

3431Anna wrote: »

I cancelled by direct debit to egg card and paid a token payment to them, they have now contacted my asking me to reinstate my direct debit as it is part of the terms and conditions that a direct debit is available for the payments they haven't mentioned the Debt Management plan 'm not too sure what to do next and would be greatful for any advice

Hiya!

I wouldn't worry about this. Yes, paying direct debit may be part of the terms and conditions of the account, but so is "you must pay the minimum monthly payment of £x.xx". Clearly, by entering into a DMP, you are breaking the terms and conditions of the account as you are not paying the minimum payment!

If they phone back, explain to them about your DMP and state that you will not enter into any further discussion about it.

Cocker:)

P.S. If your account was taken out prior to April 2007, it will almost certainly be unenforceable in Court. Most Egg Card agreements are flawed due to the wording they use in their terms and conditions for a "credit limit" not complying with legislation. Send them a CCA request to find out.