Starting my DMP on 1st Feb... Anyone want to join me?

coffee-break_2

tedsd wrote: »

Great news re reduced payments and the Tecso voucher:)...did you find out about the online surveys on a board here? How long did the surveys take?

I've been doing surveys and online mystery shopping off and on over the years. Decided on the off chance to check an old survey website i've not visited for a while and noticed i'd earned enough to claim a voucher :T. Think i'll go back to this now i've refound my money-making mojo .

VicB wrote: »

Afternoon! Nearly home time :j

Quick question, I've been reading various thread and am I correct in thinking - should my creditors (booo!) put me down as default/arrangement on my credit file no...will this come off completely in 6 yrs?

I should be a DFW (Hurrah!) in 6 yrs so will these defaults/arrangements come off then OR will it be 6yrs after the balances have been paid off?

....apologies of that makes NO sense :o But any help much appreciated.

I think the defaults are cleared off after 6 years from the date they started... here's hoping :cool:

thewad wrote: »

Got my counselling appt for 19/02.
Should I receive DMP pack before or after counselling?
What's in the DMP pack?

John

Hi John, welcome aboard , not sure which is best as i never had any counselling, maybe someone can advise, but the DMP pack is pretty straight-forward. The initial pack you receive contains the DMP agreement form to be signed and returned to CCCS with your creditors letters/statements. Also, there is a 'Notification of DMP' letter which you make copies off and send to all your creditors. It couldn't be more simple. The difficult part is the waiting patiently for everything to come together... . You're also advised to make token payments you can afford to each creditor in the meantime.

The advisors are a good, friendly bunch and knowledgeable so i'm sure you're counselling will go well .

Good luck

kaths101

:wave: all,

Well it is all very quiet with me.. Im starting 1st March too!

Not one phone call YET! Havent heard from CCCs and more annoyingly I still havent had details of my new bank account so I have been cancelling Direct debits but cant re-arrange them anywhere arggghh..
Im sure it will all get sorted soon - still have a month before I start so must be patient!!

Glad everyone is doing ok - we can do this!!
Oh and this is the first month i have got through the whole month without using the credit card!!! :j and it was fine - i even took a calculator round the supermarket with me - does anyone else do this??? its surprising how it soon adds up and there are no shocks at the checkout!

nonnynonny

I have had my first failed payment today, Cahoot took a direct debit from my former current account to pay their flexible loan.

Quite comical actually, exceeding my overdraft they have leant to pay their own loan.

At this rate, if they take it every month, and only charge me £30 fee, i will actually pay the loan off more quickly for cheaper than my DMP :p

VicB

Morning All! :wave:

Kath - still haven't received my new bank a/c details (NatWest) sent signed form off a week ago and nothing, getting a bit impatient :mad:May call up today and check everything's ok. Not worried about debit card so much, just want new details so I can transfer wages/DDs in time for next payday (15th Feb).

Got my first letter yesterday (dated Jan 28th) although rather an odd one. From MBNA (Virgin CC) saying they'd 'reviewed my account today' and are 'suspending all transactions' and that I should cut up my card (too late already done)....

That's all is said. Nothing else. No 'we got your DMP details etc. etc.'. Nothing. Not very helpful and really a complete waste of paper seeing as I haven't used that CC in MONTHS....these companies really don't know their !!!! from their elbow sometimes

Hope everyone has a good day!

mystery_united

Hi Guys.

It's great to see you are all moving in the right direction with sorting your debts out. I started my DMP with the CCCS in November last year, It is such a relief that most of the demand letters have stopped, you still get the odd one or two - which brings a smile to my face, I then write back to them, pointing out that I have already informed them in writing that I was entering a DMP.

The most frustrating thing for me is that the halifax are still charging me interest which has resulted in me going over my credit limit and then they charge me an extra £12 for the pleasure. Most of the others have been pretty good stopping interest and charges.

Good luck in becoming DFW's. :beer:

nataz

No time to chat this morning, will call back later. Glad everyone is getting started. Sorry to hear that you wont start till Apr tho tedsd, nothing stopping you hanging around, if only for the Aldi challenge

Have a great day everyone !!

jaywave

hi everyone

am new to the forum but have been following martin and the bank charges debate for years.

i'm looking to move my DMP to cccs from debt fixers (if i can) as cccs are free. but gonna be adding my two bank overdrafts to cccs as i have to pay them i suppose (even though they are made up entirely of charges and interest). It does seem that halifax dont communicate a lot between themselves. I wrote to them proposing how much i could pay them back each month and if they could freeze the interest and take back some of the charges (worth a shot:p) but they said no on all accounts and told me to contact cccs or other similar companies...so i did and that is all in the process. But then another division of halifax have beEn sending me letters, calling all hours etc etc asking me for the whole or part payment of the overdraft (£800). so i paid £10 of it.

dont you just love it when companies ask for huge sums of money from people with money problems:rotfl:.

anyway i got a letter today saying that i'm now defaulted and my account will now be managed by a debt recovery agency, even though they told me to go through cccs.

muppets!!

coffee-break_2

:wave: peeps.

Things seem a little slow, eh? Still waiting to hear from 7 other creditors, but at least there have been no scary demand letters. Was going to call and let them know, but why run up unnecessary phone bills?

I've sent off a request to Experian asking for my credit file :eek:. I know it's gonna be bad, but i want to see how bad .

Enjoy your day everyone, hope you get some good news in the post .

Choc66

My husband and I have started the scary process of putting a DMP in place this month too, so I'm in!

We've sent off the DMP paperwork, changed our bank accounts and have written to all of our creditors.

We’ve not heard from anybody yet apart from Egg, who started calling persistently since the second we cancelled our DDs (we've simply screened and ignored their calls).

Now we face the seemingly impossible task of making it through the month without using any credit…and I really can’t remember the last time we were able to do that!

This seems like such a scary decision to make. It’s not easy to put your hands up and admit you’re in too much debt to manage it by yourself any longer. I can’t help feeling as if my pride’s been dented as we’ve somehow failed. Anybody else feel similarly? We have been hiding our difficulties from family and friends. Perhaps it’ll get easier; a small part of me also acknowledges how brave we’re being, and at least we’re getting in control of our debts rather than allowing things to continue to spiral.

It’s reassuring to find we’re in no way alone in any of this!

lisal0u

Hi Everyone,

Im considering starting a DMP but have a few concerns.

We bough a house a year and a half ago which needed renovating and ended up costing us a lot more than expected. It also wasnt helped by the bank withdrawing mortgage funds near the end of the renovation.

I have been using credit cards to pay for house things and also live on sometimes and it can't go on.

I have £25k of debt and up to now have not defaulted on payments, Im trying to fix this before it gets to that point. I have £100 spare a month after paying for everything but I am only managing to pay the minimum on the credit cards and not getting anywhere with my overdraft.

My questions are:

would it be better to contact the credit cards and ask them to reduce/freeze interest so that I can make payments towards clearing the debt, rather then just aying the interest?

I have a loan with 3 of the 5 years left to pay - should I ask the bank to extend the loan period to say 7 years to reduce the monthly payments? Will they do that? I get a letter from them every month about extending my loan.

The kitchen payment (0%) finishes in June so I will be £122/month better off then.

My car hire purchase finishes in November but I will still have an outstanding payment of £3500 to pay.

I dont really know what to do for the best and dont want to ruin my credit rating.

Any advice would be greatly appreciated!
Lisa