DMP Mutual Support Thread (Part 6)

cocker100

boxofkittens wrote: »

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.

Hiya!

Your home is your first priority and must always be.

If the loan is going into your DMP, then cancel the direct debit now as missing one payment wont make any difference in the long run.

You need to base your DMP figures on what you can comfortably afford, so the higher rent figure is the one you need to use. If this reduces the amount paid to your creditors, then so be it. Rent is classed as a priority bill and must come first.

Cocker:)

lauren123

Can someone just clear something up for me please? Any credit cards billss etc I recieve, am I right just to ignore? All info has gone back to cccs and creditors now have their letters and tokens. I have 3 bills due, do I ignore them? thanks lauren


P.S...am finding all your help great, thank you x

cocker100

lauren123 wrote: »

Can someone just clear something up for me please? Any credit cards billss etc I recieve, am I right just to ignore? All info has gone back to cccs and creditors now have their letters and tokens. I have 3 bills due, do I ignore them? thanks lauren


P.S...am finding all your help great, thank you x

I wouldn't say ignore them, just file them away along with your DMP paperwork. Most people find it useful to start a DMP file to store away letters and documents from creditors. Anything important send off to CCCS, but statements can just be filed.

Your token payments are used instead of the contractual minimum payment until your DMP is set up, so yes you do not pay the bill. If you have any spare cash from not paying these bills, start to save it to build up an emergency fund for when your DMP is up and running.

Cocker:)

PosyPosy

Glad I found this thread. Am at a bit of a loss as to what to do; I initiated a DMP with CCCS yesterday online, and am waiting for the paperwork to come through. Thing is that Egg called me today to "discuss my account", I asked them to call back tomorrow as I was going into a meeting - but what do I say to them when they do call (which they are doing tomorrow at 10.30)? Shall I explain that I am setting up a DMP with CCCS and offer them a small payment now? OR should I just not speak to them (or any other of my creditors) and let CCCS deal with the communication? In kind of limbo at the moment.

dmb_2

I would tell them that you're setting up a DMP with CCCS. I did that with creditors who phoned me and as soon as you tell them that they are absolutely fine.

Good luck with it all:)

mikon

PosyPosy wrote: »

Glad I found this thread. Am at a bit of a loss as to what to do; I initiated a DMP with CCCS yesterday online, and am waiting for the paperwork to come through. Thing is that Egg called me today to "discuss my account", I asked them to call back tomorrow as I was going into a meeting - but what do I say to them when they do call (which they are doing tomorrow at 10.30)? Shall I explain that I am setting up a DMP with CCCS and offer them a small payment now? OR should I just not speak to them (or any other of my creditors) and let CCCS deal with the communication? In kind of limbo at the moment.

Agree with DMB just tell them that your in the process of setting up a DMP with CCCS and that you will keep in regular contact with them. Make sure that you maintain your monthly payments by sending a token payment of £1 to all your creditors do not miss any payments. There is a letter template on the national debt helpline website. I found that by ringing my creditors regularly they seemed to respect that and a majority froze interest/charges.

Remember what you have got you cannot give.

Best wishes hope it works out for you.

slightlyconfused_3

Hi everyone,

I have just started out with a DMP with CCCS and have in the last week written to my creditors and sent my statements off to CCCS.

Wonder if anyone could provide their thoughts on a letter I received from MBNA (I have a CC with them) today.

I wrote to them last week informing of my DMP using the template letter from CCCS. Today I received a letter from them that reads:

"Dear xxxxx,

Account xxxxxxxxxxx

Following a review today a restriction has been put on your account. We ask that you cut up your credit cards. As from today, no further transactions will be authorised.

If you have any concerns as to why we have taken this action please call one of our specialists .....

Yours sincerely"

I haven't missed payments for them so far so should I presume this is in response to me notifying them of my DMP with CCCS? Just wondered if this is their normal way of responding to such a letter?

Should I just hold off contacting them for the time being until CCCS have had a chance to speak to them about the DMP themselves?

Any thoughts would be appreciated.

Erme

well that sounds perfectly fine to me confused because like you don't exactly want a CC afterwards. I haven't had one for 2 years. Manage fine with just a visa debit. Unless you have DD's coming off the CC in which case change them to your basic bank account.

I am not debt free but I imagine life when I am as being pretty similar to now....with just one less thing to worry about ;T. I have my own DMP and keep a pretty close eye on things. Have paid off pretty much most (if not all) the interest on my loan and am working on my OD right now (as per Dave Ramsey plan - google him, he's american. Even if it's just for his ideas on basic budgeting) and counting the month's till that's paid off in full and my old current account is in credit ...

Don't worry about not having cards for 'old' accounts. You don't need them. Hard thing to give up. I know but worth it.

That coop account ppl keep saying sounds good . Might mention it to my local debt advisor...I am with santander cos my local branch are lovely (but they were better when they were abbey) and my local branch are fully aware of my debt busting plans and help me wherever they can to save money. I am with them cos of the local branch - no other reason - else I would have gone elsewhere...

Blessings

E

slightlyconfused_3

Erme wrote: »

well that sounds perfectly fine to me confused because like you don't exactly want a CC afterwards. I haven't had one for 2 years. Manage fine with just a visa debit. Unless you have DD's coming off the CC in which case change them to your basic bank account.

I am not debt free but I imagine life when I am as being pretty similar to now....with just one less thing to worry about ;T. I have my own DMP and keep a pretty close eye on things. Have paid off pretty much most (if not all) the interest on my loan and am working on my OD right now (as per Dave Ramsey plan - google him, he's american. Even if it's just for his ideas on basic budgeting) and counting the month's till that's paid off in full and my old current account is in credit ...

Don't worry about not having cards for 'old' accounts. You don't need them. Hard thing to give up. I know but worth it.

That coop account ppl keep saying sounds good . Might mention it to my local debt advisor...I am with santander cos my local branch are lovely (but they were better when they were abbey) and my local branch are fully aware of my debt busting plans and help me wherever they can to save money. I am with them cos of the local branch - no other reason - else I would have gone elsewhere...

Blessings

E

Thanks but I think I may have confused you! Im not queryin that I need a credit card, I just wondered whether the decision to take the card away was as a result of me notifying them of the DMP

PosyPosy

Right, I've told 2 of my creditors about the DMP and I have to say that they have been very nice. So far I've had verbal confirmation that the interest and charges will stop as soon as they have confirmation of the DMP from one of them (Santander) - I'll just have to wait and see about the other one (Egg).

Not done anything about the loan or overdraft yet as I'm still waiting for my new current account to be activated, and really don't want them to get wind of the DMP before I have had the chance to move my money away from them.

Although I know that the token payment needs only to be £1, I have paid £20 to both, just so they can (hopefully) see that I am serious about sorting this out and keep them happy.