DMP Mutual Support Thread (Part 6)

lauren123

CharliesAngel wrote: »

Hey Lauren

Are you adding your nationwide OD to your dmp? If you are then they'll be contacted by your provider CCCS / Payplan to give them the amount you'll pay them each month.. they won't be able to 'sell' your account to a DCA without a default notice (correct me if i'm wrong guys) so I wouldn't worry too much.. plus nationwide are more stroppy sounding than they actually are.. they've threatened to sell my account after they defaulted me.. i said that's fine, because usually a DCA will stop charges and interest and are quite happy with a dmp as long as you keep paying every month.. they've not done yet!

With regards to tax credits are they paid with your salary? As soon as Co-op give you your account number and sort code you can pay into the account (give them a call again and see if they can give you your details, they very rarely refuse basic bank accounts, in fact i don't think they can refuse - I had to call them as I'm paid weekly and had to move everything).

Hope everything sorts itself out soon!

CA x

Thanks for the reply. Yes my overdraft is included in my DMP. I get my wages paid cash so only my tax credits and child benefit get paid into my account, i also have no direct debits going out as cancelled them! Rang co-op again today (48hrs after applying) and still no decission, ring back tomo! If new account isnt sorted before the 30th i'll have to pay the 60quid or they will just take my tax credits! :mad:

3431Anna

Morning everyone, could anyone tell me how long it wil take to find out if my creditors will accept my offers of payment, I have sent my lst payment to paypal yesterday they said they would send off my offers on receiving this and i just wondered how long it might take. Also i paid token payments last month and am now starting to receive statements will i have to make token payments for this month or will payplan just distribute my payment even though i haven't had acceptance yet

jenevieve

Hi Anna

There is no hard and fast rule as such; some creditors accept straightaway and others may take a few months. Some creditors don't accept and may pass your debt onto a Debt Collection Agency. From the posts I remember reading about that, DCA's often accept once the debt is passed on to them.

I have 8 creditors and some accepted quicker than others. Once they had accepted, interest was then either reduced or stopped.

If your first payment is going to PP this month then you do not have to make token payments as the creditors will receive a reduced payment from you via PP.

Things generally do settle down after the first few months so hang in there.:)

Jen

cocker100

3431Anna wrote: »

Morning everyone, could anyone tell me how long it wil take to find out if my creditors will accept my offers of payment, I have sent my lst payment to paypal yesterday they said they would send off my offers on receiving this and i just wondered how long it might take. Also i paid token payments last month and am now starting to receive statements will i have to make token payments for this month or will payplan just distribute my payment even though i haven't had acceptance yet

I agree with above.

Now that you have started paying Payplan, your DMP is up and running!:T
Payplan will continue to pay your creditors even if they haven't yet accepted the reduced offer yet.

You may find some will be quick to accept, and others may not. Some might not accept at all and sell to a DCA. If this happens, just inform Payplan of the new DCA creditor and they will transfer the payment to them.

DCA's tend to agree to DMP's as they pay very little for the debt and make good profits from collecting the payments. So long as you continue to pay, they should leave you alone.

Cocker:)

cocker100

lauren123 wrote: »

Thanks, Ive already sent a token to them! Thing is my tax credits go into this account each week and co-op still havent made a decission about opening my new account. If I havent heared by start of next week, i'll see if can temp get them paid into my partners. Nationwide have told me if I exceed my OD limit once more it goes straight to a DCA!

I would ring Tax Credits direct about this and explain the situation. I cant see why they wouldn't allow you to transfer them your partner's account, so long as you claim them jointly and his name is only on the tax credit forms too.

Cocker:)

the_tooth_fairy

Hello everyone, sorry I haven't been able to post this week, hellish busy at work.

Can I just say, I'm really proud to be a member of this forum! That's tempered with the shame of not being able to support any of our newbies this week. There has been some brilliant advice and help offered (you know who you are!!) and reading through the last few pages it sounds as if everyone is up and running.

As everyone else has said, please Newbies, try not to get too stressed about it all. You are doing your very best to be responsible and repay the debt. I was practically a basket case when I first took the plunge, and we have never looked back. It changes your whole life (cheesy but real!) and without all the people on here it would have been so much more of a challenge.
Cue Sigur Ros anthem!!!

ttf x

the_tooth_fairy

ianmak wrote: »

I find it quite refreshing, and though I'm still constantly living on a shoestring, one day (in 7 years perhaps) I'll have it cracked, and won't need credit ever again!

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...

Hey Ian, that's great!! I am really pleased for you. You help everyone on here and you know what they say, what goes round, comes round.:beer:

Just don't take her to Donegal, like your girlfriend years back, the wind will blow her head off...:)

ianmak

the_tooth_fairy wrote: »

Hey Ian, that's great!! I am really pleased for you. You help everyone on here and you know what they say, what goes round, comes round.:beer:

Just don't take her to Donegal, like your girlfriend years back, the wind will blow her head off...:)

Thanks TF, I'll bear that in mind, though the nearest I'll be getting to Donegal is, well, not even close, so it'll probably be a weekend in Margate instead...

And shame on you for not being around this week to help out! Hope your job is going well. :T

the_tooth_fairy

ianmak wrote: »

Thanks TF, I'll bear that in mind, though the nearest I'll be getting to Donegal is, well, not even close, so it'll probably be a weekend in Margate instead...

And shame on you for not being around this week to help out! Hope your job is going well. :T

I have been reading yours (and others) advice this week and I really am ashamed for not being around!:o Having said that, look how much I relied on you and the others at the start. You know lots about the ins and outs of all this! I'm afraid I could realistically only have offered support and encouragement. It's real help everyone needs, that's why I'm proud of you all.

I bet Margate is lovely, but it doesn't matter where you are, if you're with the right person;) Especially if he can cook:T

ttf

ianmak

Yeah I can cook alright, she's a very lucky girl!

Don't worry about not being around, we all come and go (Think of it as shift work!), and you help out a damn sight more than me!