DMP Mutual Support Thread (Part 6)

cocker100

cleomolly wrote: »

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

Hi,

If your household debts are shared between you as is normally the case, your mortgage repayments and household bills must take priority over your DMP.

In my case, my partner is not included in my DMP, but her wage is included in all the budget figures as she contributes to our monthly outgoings.

I would ring CCCS and explain the situation. They will then have to complete a new income/expenditure plan with you. Whatever is left over after all your priority bills have been taken off will then go into your DMP.

Your creditors may not like it, but thats the way things usual work. Also dont forget, if your husband finds a new job fairly quickly, your payments will go back up.

Cocker:)

3431Anna

I have set up my DMP and I am now starting to receive this months statements from my creditors they are showing my token payments from last month and are showing overdue amounts from minimum payments shall i write to them to tell them about my DMP or will payplan have already done that thanks for any help

the_tooth_fairy

3431Anna wrote: »

I have set up my DMP and I am now starting to receive this months statements from my creditors they are showing my token payments from last month and are showing overdue amounts from minimum payments shall i write to them to tell them about my DMP or will payplan have already done that thanks for any help

Don't worry, Payplan will be already talking to them, sending your outgoings, etc. We started last Oct, and are still getting "you failed to pay the minimum amount" on our c/c statements! They are probably computer generated.

ttfx

3431Anna

thamks tooth fairy i'm still finding this very worrying hopefully it will get better when i finally get acceptace for my payment offers, thanks agian

ianmak

Thinking about how much people worry about letters and phonecalls...

I received a letter from RMA Resolve (they look after my Amex), basically saying that I haven't spoken to them, or being paying them any money, and that my agreement with them would shortly come to an end (I've had no probs with them in 18 months).

I phoned them up using a number from https://www.saynoto0870.com (always useful if the creditor only provides premium rate numbers), and RMA explained that because PayPlan's payment cycle had changed for that month, there was more than 30 days between consecutive payments, and so an automated letter was sent out.

The nice lady on the phone was happy that I was a regular payer (and apologised for the poorly worded letter), and that was that, though she did offer me an F&F of 60%!

The moral of this story is that for all their phonecalls and letters, the majority (not all!) are automated, can be taken the wrong way, and nothing to worry about.

Happy bank holiday everyone!!!

Julie67

We are just at the beginning of our Self Administered DMP. We have 5 creditors, 3 of which are HSBC loan/OD and CC. I sent off token payments which have been cashed but still getting letters stating our payments are overdue. I am due to start the DMP on 26th June. It seems like there is a probably a really unsettled period whilst the Creditors decide you are sticking to your DMP. I am hoping things settle down after that. HSBC are currently deciding whether to lump our debts together, and talking about a management plan. Either way I can't pay more than we have offered, so the total of each of the DMP payments added together. Has anybody else had a similar situation with HSBC. We owe just over £18,000 to them in total. I am really hoping they will suspend the interest so we can begin to make some headway

sanctuary_seeker

Has anyone arranged repayment plans with credit card companies themselves?
Hi, well I finally took two days off work to specifically go through my finances, see how bad the situation is and try and take control of my debts and find a way through. It was horrific I have 26000 on credit cards outstanding and am struggling with the minimun payments which total about 700-800 per month (and I only really have about 300 available each month to pay them) .

I went to see my bank on wednesday and whilst the advisor was actually very nice and didn't make me feel like a bad failure of a person, they couldn't actually offer me a loan which I'd hoped they might in order to actually pay off the debts over a set period of maybe 10 years as opposed to just paying ever increasing interest and charges to credit card companies each month.

I have already created income and expenditure spreadsheets so have a handle on what i can realistically afford to pay off each month but wondered whether people have contacted credit card companies themselves and told them what they can afford to pay and ask if they'll freeze the interest etc. or do you feel that will only work if done via a debt company such as CCCS ( which i see mentioned on here)?

Thanks for any advice you can give. I don't have any family apart from my children so am in this alone and want to take control and get start dealing with and making my life a little less stress ful each month.

SS

sanctuary_seeker

Has anyone arranged repayment plans with credit card companies themselves?
Hi, well I finally took two days off work to specifically go through my finances, see how bad the situation is and try and take control of my debts and find a way through. It was horrific I have 26000 on credit cards outstanding and am struggling with the minimun payments which total about 700-800 per month (and I only really have about 300 available each month to pay them) .

I went to see my bank on wednesday and whilst the advisor was actually very nice and didn't make me feel like a bad failure of a person, they couldn't actually offer me a loan which I'd hoped they might in order to actually pay off the debts over a set period of maybe 10 years as opposed to just paying ever increasing interest and charges to credit card companies each month.

I have already created income and expenditure spreadsheets so have a handle on what i can realistically afford to pay off each month but wondered whether people have contacted credit card companies themselves and told them what they can afford to pay and ask if they'll freeze the interest etc. or do you feel that will only work if done via a debt company such as CCCS ( which i see mentioned on here)?

Thanks for any advice you can give. I don't have any family apart from my children so am in this alone and want to take control and get start dealing with and making my life a little less stress ful each month.


SS

PS have now been directed this thread but not sure how to join, obtain a number etc, please could you advise.. Thanks

Cat-astrophe_2

I'm just about to undertake my own self-managed DMP - I finally posted the letters and cheques yesterday.

I will admit that I'm bricking it and am not sure what is going to happen. I suppose the worst that could happen is that they all refuse my offers. If this is the case, then I will go back to CCCS and see if they will take me on.

However, after trawling through the forums, quite a few people seem to be managing their own DMP fairly well. I've decided to 'go it alone' as my reduced working hours are temporary and I am hoping that it will return to normal in 2 months.

Whichever way you decide to do it, I wish you the very best of luck and all the best for your soon-to-be debt free future... we will all get there, just at different times... and the early ones can get the drinks in :beer::j

sanctuary_seeker

Hi I'm very new to this site, but it seems very useful.

May I ask if you used a particular letter template to send to your creditors? I'm about to start this process myself and have done income and expenditure spreadsheets but wondered about the wording of the actual letter I send.

Thanks for your help

SS