DMP Mutual Support Thread (Part 6)

Twit_Head

ianmak wrote: »

I told my new ladyfriend about my debt problems the other day, she said she was fine with it and said it didn't matter. Bear in mind that she gave birth to a stillborn child a few months ago, I guess debt doesn't really matter so much when it comes down to it.

What a terrible thing for her to cope with. It makes you realise and treasure the really important things in life. We live with the debts but one day they'll be gone.
She sounds like a great lady - all the best to you both.

'Twitty'

Twit_Head

the_tooth_fairy wrote: »

Hey, wee woman, YOUR son works for Cancer Research? He IS steak( and the chips, and the pepper sauce). My son is 2nd year Uni and if he turns out as well as yours, I will be ok. I was trying to convey how minging all this is for the Newbies. The phone ringing at night when you went to bed cos you're broke (8.30) and that awful feeling because it's your best friends birthday, and all you can afford is cooking her a dinner (but she loved it!!).
It makes you wonder what is real.

ttfx

Yup - it is tough getting through day to day and learning how to stagger from one financial crisis to another. (Kaput washing machines, birds down the chimney etc, etc)
But I think we all recognise what has true value in life. Perhaps this is the other side of the DMP coin?
And how could your son not turn out well? Look what a Mother he has :A

'Twitty'

notsocannylass

Interesting to see that Gree0115 had a debt with Amex who passed it on to RMA and they stopped all interest - I phoned RMA and Amex yesterday to be told they would neither reduce nor freeze interest.

essex_jim_2

cocker100 wrote: »

Hiya!

As per the advice already posted, most people on here tend to use one of the free to use companies for their DMP, namely CCCS or Payplan. However, when I started on my DMP I was initially with a fee paying company.

I took a slightly different view on things and I believe I am now better off by using a fee paying company. The reason for this is that a fee paying company will work much harder for you because you are paying them. Put simply, if you are unhappy with their work, they know that you could up sticks and move to another company. Therefore, I believe that they negoiate better with your creditors.

In my case, all creditors had accepted the DMP and frozen interest within 3 month!!!:D:D:D Now how many people on here can say that they have had all interest frozen using CCCS or Payplan? I'm not dissing either of them, but both are completely snowed under with work due to the economic meltdown. I simply dont think that they can provide the same level of service. Yes, I was paying a monthly fee, but the way I saw it was that I would have been paying considerably more in interest if my creditors had not stopped adding it to the debt. This way I was able to see the actual debt decrease each month form a very early stage.

I'm just giving my opinion on this, so you can hear both sides of the argument. I will say this though, private DMP companies will make you think that they are in it to help you, but really they are only in it for the profit! Dont let them fool you.

By the way, i've now ditched my DMP company and set up my own self managed DMP. I've used them as much as I needed to, and their fee now goes towards reducing my debt quicker!;)

Good luck,

Cocker:)

Cheers, very interesting to hear. Was waiting for someone to say that because to me that’s what I expected. I simply want as little stress as possible. My debts are £10k and I can afford up to £600 a month in payments. Most people might think with those amounts I should be able to cope easily but as the bulk are payday loans it is not. Yeah I get it that the companies will make out they’re there to help but really they’re just after your money, but such is life I wouldn’t expect anything else. Out of interest is there any way of checking whether a company is legit? The firm I’ve been talking to is called Vincent Bond.

scouselad1974

Hi

Vincent Bond are a legit company, I have seen them pop up a few times on BBC News.

ianmak

essex_jim wrote: »

Cheers, very interesting to hear. Was waiting for someone to say that because to me that’s what I expected. I simply want as little stress as possible. My debts are £10k and I can afford up to £600 a month in payments. Most people might think with those amounts I should be able to cope easily but as the bulk are payday loans it is not. Yeah I get it that the companies will make out they’re there to help but really they’re just after your money, but such is life I wouldn’t expect anything else. Out of interest is there any way of checking whether a company is legit? The firm I’ve been talking to is called Vincent Bond.

The payday companies could be awkward just cos of the way they operate (interest rates etc). I had a couple before I started (no more than £100 though) and chose to pay them off before I started. Good luck though!

ianmak

notsocannylass wrote: »

Interesting to see that Gree0115 had a debt with Amex who passed it on to RMA and they stopped all interest - I phoned RMA and Amex yesterday to be told they would neither reduce nor freeze interest.

I had debt with Amex who also defaulted straight over to RMA. Never hear a peep and they don't charge interest. It's worth noting though that it was only around £800 of debt with them...

cocker100

essex_jim wrote: »

Cheers, very interesting to hear. Was waiting for someone to say that because to me that’s what I expected. I simply want as little stress as possible. My debts are £10k and I can afford up to £600 a month in payments. Most people might think with those amounts I should be able to cope easily but as the bulk are payday loans it is not. Yeah I get it that the companies will make out they’re there to help but really they’re just after your money, but such is life I wouldn’t expect anything else. Out of interest is there any way of checking whether a company is legit? The firm I’ve been talking to is called Vincent Bond.

Hiya!

I never had any payday loans, so dont know how they would react to a DMP. From what I've heard though, they can be one of the hardest nuts to crack and tend to be hard to deal with no matter who you go through.

As for private DMP firms, I used a well known company (dont want to give their name and advertise for them), but there are plenty of others out there. My best advice would be to google several of them and see what it brings up.

However, if the bulk of your debt is made up of Payday loans, I would consider one of the free to use services first so that more of your money can go straight to repaying the debt.#

Good luck,

Cocker:)

lauren123

Just thought would give the latest on my DMP. CCCs have told me as soon as I recieve my new Bank acount details they can begin to contact my creditors :j In the meantime, I have had a text from littlewoods saying thank you for your £1.00 payment! About 3 phonecalls from different numbers (didnt answer as was at work)

So far so good! Think the trouble starts soon as Nationwide want money of me and tell me my overdraft will get passed over to a DCA

Trying not to worry as it all going to plan so far :j:j:j

cleomolly

Hello all. Not been around much over the last few months, have been having a much needed break from my debts and with everything running smoothly with CCCS I have taken some time off to relax (well sort of), but am finding myself in need of your helpfull advice again and couldn't think of a better place to start

My husband is being made redundant and I would like to find out where this leaves me with my DMP. If in the next few months my husbund struggles to pay and money towards the mortgage payments and household bills, am I better to pay his half leaving me short for my CCCS payment or will they expect him to cover the shortfall not me?

Happy Friday to all