Any DMP Success Stories?

glitterlea

I am just about to enter my DMP with payplan and so far, all I've read is that most companies do no accept your payment offer, threaten you with court action etc etc. It all seems so scary and daunting!

I'm just wondering, has anyone actually had a positive experience where your creditors have accepted the DMP offer and let you get on with trying to pay the debt back?

What happens if they never accept your offer, has anyone actually been taken to court and what can they do? Will my house be at risk?

I'm just so scared by the whole thing to be honest but have no other option that to start up a DMP.

Thanks in advance

smcshane

Hi,

If you havent already done so I would suggets looking at the above thread. This was my lifesaver when I finally relised a DMP was my only option a couple of months ago. There are some great people about to offer advice, support and just a bit of a giggle if its needed!!!

I only started my DMP in June and I have had a mixed reaction from creditors some saying they will accept and others saying they wont but I can now sleep at night and that is more important than anything.

I want to pay my creditorsa back and once they see this I'm sure more will come on board. I knoe people advise not to speak to creditors also but I have found it quite empowering speaking to them with the support from hear over the last few weeks just making them aware of the DMP, for some reason letters seem to vanish into thin air when they enter creditors offices:rotfl:

Take Care, it will have it's ups and down but as they say at least your taking control and creditors cant have what you aint got!!!

Sx

glitterlea

I just wanted to bump this up x

want2bfree84

Hello!

I felt very much like you when I started, and I'll be honest, it was very stressful at first, but I rode with it and 6 months in, all creditors had left me alone:T

EGG and MBNA accepted Payplan's offer without any issues. However the Co-Op and Halifax harassed me like you wouldn't believe:mad: and I only owed the co-op £500! They called me at least 3 or 4 times a day and so did Halifax! However, I told them the same thing each time they called that I was paying them all I could blah blah blah and eventually, they accepted Payplan's offer.
I have to be honest and I told them I had changed my phone number, and gave them a made up one to stop the calls:o

However, it's been the best thing I ever did. No ones taken me to court, I did get some defaults but that's expected and it's all going really well. Payplan are also brilliant and so helpful:T

good luck

glitterlea

want2bfree84 wrote: »

Hello!

I felt very much like you when I started, and I'll be honest, it was very stressful at first, but I rode with it and 6 months in, all creditors had left me alone:T

EGG and MBNA accepted Payplan's offer without any issues. However the Co-Op and Halifax harassed me like you wouldn't believe:mad: and I only owed the co-op £500! They called me at least 3 or 4 times a day and so did Halifax! However, I told them the same thing each time they called that I was paying them all I could blah blah blah and eventually, they accepted Payplan's offer.
I have to be honest and I told them I had changed my phone number, and gave them a made up one to stop the calls:o

However, it's been the best thing I ever did. No ones taken me to court, I did get some defaults but that's expected and it's all going really well. Payplan are also brilliant and so helpful:T

good luck

Thanks for taking time to reply, its nice to hear something positive as it all seems so daunting at the moment
x

want2bfree84

It does, but honestly stick with it, and it will be the best thing you did x

JES_F1

I've been on a DMP with the CCCS since the beginning of 2008 - and all is generally going very well.

The first couple of months or so are a bit grim while everything settles down but it's definitely worth riding out that storm.

If creditors telephone you, refuse to go through the security questions and insist they put it in writing. If they continue to harrass you, you can put a complaint in writing - there's a good template letter around here somewhere.

In response to letters, I wrote back to each one telling them about my DMP, reminded them of how much they'd be getting each month, and the date they would receive it (as the CCCS can only make payments to creditors on the 25th of each month).

Apart from the Nationwide, who have been very difficult to deal with, all my creditors have been great - all have frozen interest and fees. Of particular note are M&S and MBNA, who my largest creditors, both of whom accepted the DMP immediately, froze interest and fees instantly, and I'm on my second 12-month reduced payment agreement with them.

Good luck and best wishes - it really does get better after the first couple of months or so!

churchrat

hi
I think like the others have been saying, its tough at first but usually settles down after a while. We run our own DMP and have been doing this for about 7 yrs.
We owed about £61k at the start, now down to about £6k, (I don't keep a running total anymore, just check every couple of months).

We have been lucky and nobody has taken us to court, although we very nearly lost the house. Having debt you cannot pay is a scary place to be, but it all feels so much better once you start to do something about it.

good luck
churchrat

crafty1

churchrat wrote: »

hi
I think like the others have been saying, its tough at first but usually settles down after a while. We run our own DMP and have been doing this for about 7 yrs.
We owed about £61k at the start, now down to about £6k, (I don't keep a running total anymore, just check every couple of months).

We have been lucky and nobody has taken us to court, although we very nearly lost the house. Having debt you cannot pay is a scary place to be, but it all feels so much better once you start to do something about it.

good luck
churchrat

Hi - how comes you nearly lost your house? Especially as you say you've not been taken to court??

glitterlea

crafty1 wrote: »

Hi - how comes you nearly lost your house? Especially as you say you've not been taken to court??

That's what I was wondering too... now I am scared!

Moneyhole

Hi Forum, hope you guys are well. I have contacted Payplan and they can help my situation which is great. It felt like a huge weight was lifted off my shoulders and I soon realised there was alot of people in the same boat as me.

I'm 26 and have been in debt since I was 20. I borrowed to pay for driving lessons and then a car, this was while I was training as an Accountant, then after a few months my credit limit was raised by £2000. So not having had a holiday for ages I decided to take a nice holiday to Corfu. It was great and I thought the world amazing. After a few months my interest free period ended, my bank "advised" me to get a loan so i could keep track on how much I owed. Then after a few months they gave me an overdraft of £1000. My car needed big repairs so I used my now £3000 credit card limit to buy a new one. My partner then had a job offer away from where we lived, we decided because she didn't drive that we would move away and live together. I used my overdraft to pay for the deposit and then took increased my loan with ease to £8000 to cover my £3000 credit card. Now suddenly I find myself £13500 in debt!!! I have been paying £390 a month for the last 3years. I have spoke to payplan and they were so nice and understanding. They say i can only afford to pay back £200 a month!! I'm just finishing off my charted accountancy and I get married in 2 weeks, so I can finally start to live my life again after a knightmare 6years and I feel so happy. I have spoke with all my creditors and they are pleased with my repayment plan. Debt free in 5yrs on my DMP but once i qualify as a charted accounted it should be gone within 1 year!!!!!!!!!!! hope my story convinces people to speak to Payplan, they will help you!!!!!!