DMP - Which companies accept & which fight it?

spud30

Thanks Kay,

CCCS told me to open a new account as a matter of urgency...I just hope I chose wisely. Picked Co-op following some advice on here.

kickingkay

Spud i have two accounts i opened a shopping account with the co op they have been greta i did it online, i have a cheque card with them and i also have a banking bills account with alliance and leicester,
i know someone posted a link with what bank is owned by who but im not sure who it was post a new link, asking for a list of banks who accept poro crdit scoring and dmp customers and im sure some one will post a link
have a good sunday afternoon
xx

Wonder_Girl

Co-op are a good choice

There are no hard & fast rules with who will accept and stop interest etc. it all depends upon your offer, Also depends upon the relationship the company your DMP is with have with the creditor. There are very few creditors that refuse to deal with CCCS at all, most will put up a fuss for the first month or two and then settle down.

TallGirl wrote:

It seems a long time to wait for an appointment with CCCS, Payplan is usually a bit quicker.

In regard for the 2 week wait for appointment it may seem long but this is to allow all the paperwork to be sent out and give the client time to gather all the information from the creditors.

spud30

So far I dont have a poor credit rating, not in arrears with anything yet.

It will all hit the fan when I speak to CCCS later this week, and I'm sure my credit rating will go downhill very fast after that !!!!

spud30

Thanks WG,

Can you tell I'm beginning to lose my nerve re my appointment?

I didn't mind at all having to wait two weeks. It has given me chance to gather everything together, including my thoughts !!!

Wonder_Girl

spud30 wrote:

Thanks WG,

Can you tell I'm beginning to lose my nerve re my appointment?

I didn't mind at all having to wait two weeks. It has given me chance to gather everything together, including my thoughts !!!

Don't lose your nerve!

You are WAY over the worst of it now, you have admitted you need a bit of help and that is by far the scariest step! :T

All the counsellors are lovely, non judgemental and trained to a VERY high standard. All you have to to is go through a SOA list all your creditors, sign a form and CCCS will do the rest.

From day one you will have 100% support, and they are only a phone call or email away no matter what the question!

Just think, you may even get to talk to me one day, if your lucky

Seriously though if you have any queries about the process, what’s required or just a quick question PM me, I’m happy to help in any way i can

WG x

spud30

Thanks WG,

We are very lucky to have you here.

I'm just really worried we don't have enough spare cash left over each month to set up a DMP.

I have set a budget I know we will be able to stick to for groceries etc, and am aiming to manage on less, saving the difference for an emergency and/or lump sum payment against one of the debts. What I didn't want to do is set a budget too tight to stick to, and end up in the same situation we're in now.

Is there a minimum amout that CCCS will work with, is it a percentage of the debt...how does it work?

Another problem I have is that I dont know exactly how much my take home wages will be as I've only done a week, so I've had to guess.

I'm panicking !!!!!!

kickingkay

spud have you done a statement of affairs listing howmany in house hold two as this counts when they are working out how much you need to live on if you dont want to post it on here pm me and i will show you mine (ooer ) i have 2 adults 3 children 1 is year old but we have 400 for food plus 50 for entertainment and 50 for clothes plus other stuff, when i had only 54 quid spare wft were priority so they advised a pound per debt, but i changed my mortgage to interest only (which wills et me back 7 yrs!) but freed up 200 quid to pay off debts hope this helps
chin up you are on your way and 2 weeks is good mine was closer to 4!

Wonder_Girl

And breath!

Yes there is a minimum amount we can deal with, £5 per creditor! how many creditors do you have?

There are however strict guidelines that we can allow on a budget, these are based upon figures from the British Bankers Association. If you want to PM me your budget I’ll gladly let you know if there are any areas that need adjusting at all.

I posted a SOA template the other day (was on page 5 earlier) these are the areas we look at on an income & expenditure budget, if you want to copy that and add all your figs in we can perfect it together before your appointment

Are you being paid weekly? If so you will have had another 1 or 2 payslips by the time your counselling appointment is due. If not we can still work something out

And most importantly DON’T PANIC

WG x

spud30

Hi Kay,

We are 2 adults, 2 children, 1 very large dog and 4 cats. I have allowed £300 for groceries for us all. We dont really go out, so not much needed for entertainment.

WG,

Will do it now, but my appointment is only 2 days away !!! We get paid monthly, but the wages are pro-rata'd so we get paid during school holidays. Pay day is 15th of month I think.