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

kaths101

Hi all not such a good couple of days - phone has rung non stop - Nationwide have a stupid automated phone call that when you pick it up- says stay on the line and wait for an advisor to answer - NO CHANCE. They have been ringing since 8am this morning - not good when you have a late night :mad:

Also had a letter from lloyds - saying
'thankyou for your letter, we have reveiwed your accounts and are not able to freeze the interest or charges at this time. We will not take any further recovery action as long as your payments continue as previously agreed' ????
What does all this mean - arggghh
So 2 accepted - 1 not so far :eek:

losingbigtime

nataz wrote: »

Cheers guys, really looking forward to potty training now

Losing Having re-read your post a few times, I think a DMP is prob not the best option at present, although Im not expert. You need to speak to citizens advice, national debt line or one of the other general debt advice agencies straight away. You cant do a DMP if you have less than £100 left after paying your priority debts, am I right in saying you dont have more even for the priority payments? Just reading your post has made me worry for you. There are hardship loans available (I think) for priority debts. But CAB will be able to tell you more. I hate to say it, but if you cant afford to make those priority payments YOU ARE GONNA HAVE TO TELL YOUR OH. For better or worse, you cannot do this without him knowing.

As far as credit cards, loans etc go I would ring them or write. Tell them you are facing severe financial difficulties and are seeking advice and will you accept a token payment of £1. Remember THESE ARE NOT IMPORTANT DEBTS AND SHOULD NOT BE TREATED ABOVE YOUR PRIORITY DEBTS (unless they are secured on your property) Even the Tesco one, just send the letter or ring and send a small token payment. Treat them all the same.

Is your overdraft agreed, or are you over your limit and facing charges?
Does what you have to pay (£2700) include current payments to creditors?

If you've got time, post your SOA on here and we'll try and help you a bit more. Take care, sending you a big DFW hug.

Ho - wow thanks you guys, it is really reassuring coming on here. OK.... well I went back on the debt remedy thing and juggled around with the figures and it gave me the option to do a DMP, and they are sending me out the pack - but I did kind of bend the truth to make the figures "fit" and really I am now not sure if DMP is the way forward. Maybe an IVA would be better for me, but would hubby find out about this?

I am also thinking of just adminsitering this mnyself and writing to all the creditors with token payments (except for Natwest who is my actual main bank where all of my wage is paid in and my mortgage, bills etc are paid out of) and try and keep paying the normal payment on the natwest credit card and get the overdraft back into the black. I am in the agreed overdraft (for the moment) but not for much longer if I keep paying full on the other credit. I do NOT want to change banks as this would be a nightmare as this is the only bank in my local area and I would struggle paying cash in etc and changing all the DDs and other things like online grocery, amazonm ebay etc where this card is the one i use.

Yes the £2700 that I pay includes the creditors payments. Without this I am still living beyond my means and cannot really afford the essential priority payments. Maybe if I cut back I would have like £20 a week spare after I had paid mortgage, 2nd mortgage, insurance, water, tv license, utilitiescouncil tax etc. So that £20 could go towards credit payments.

What is an SOA? I will post one and make some sort of decision over the weekend. My preferred course of action would be to stay with my bank and do token payment letters to all the creditors, other than that IVA or DMP.

Thanks so much, hug gratefully received!

coffee-break_2

Hi Peeps,

Ted just my luck, there's a Vue cinema nearby but alas i've no kids... bum! Back to the full-price tickets i guess

Kaths, bloomin hell. Think it's time to unplug the phone if you can... at the very least so you can have a peaceful weekend! I'm dreading LTSB, my biggest debt is with them...hope the letter they send me is more comprehensible than the 1 they sent you!

pure_dead_dopey wrote: »

Morning All

I've got loads to do to-day so any volunteers to do a bit of loo cleaning? No? Hope you all have a great day with nice acceptances and no contact with any of the nasties. Personally I am thinking of writing to CEO of Lloyds as his staff seem to be incapable of coming to reasonable agreement. I just don't want their incompetance to stall OUR recovery, what do you think?

I'll pass on the loo cleaning thanks . Did mine today and it's so clean you can eat your dinner off it... or maybe not

Still heard nothing from my creditors... apart from Credit Solutions who have sent a FINAL WARNING demanding full payment or court action may be taken :eek:. They also said i should no longer write to them as "our time limits are very strict". A month ago, i would have panicked reading this, today i contemptuously throw the letter to one side and get on with my day .

Have a great weekend peeps :beer:

pure_dead_dopey

Morning All

Got up early because I was having a figure birling session in my head. I am really worried about Lloyds, we're paying them 130.00 and they are charging 260 in interest, so you start to think what is the point?
Losing, it would be good if you popped up an SOA but please don't juggle figures in the debt remedy because you have to live with the results and if you've underestimated living expenses, you end up back in the same position and yes I still think you have to tell your OH. Good luck with the SOA.

true27

Hi everyone!

Losing - if you look at the sticky threads at the top of the DebtFreeWannabee page I think the SOA calculator is the 4th or 5th one down. Echo what PDD says, "fixing" the figures could mean that you set out on a course which you can't keep to. If you do a DMP with CCCS they will include all of your debts, including the Nat West ones and they will advise you strongly to open an account with someone that you don't owe money to. Fill in an SOA with your original figures (the £2700 ones) and post it on the main board then you will get some of the best advice, not just from us here but also from the lovely and more experienced people out there. Take care xxx

PDD - have you spoken to CCCS about Lloyds? There really doesn't seem to be any point in making that payment. There must be something that can be done about ridiculous amounts of interest like that.

Nataz - potty training isn't that bad, honest I just paid my childminder a bit extra to do it lol!

Fully intending to have a peaceful weekend, DB is with his dad and DH is working so I'm thinking of hiding back in bed with a coffee and carp on telly! I've decided that sitting by the phone all day waiting for someone to ring is a bit daft so I've pulled the plug. Finally got my new PAYG phone up and running (who would have thought that could be so complicated!) so if anyone I actually like wants to talk to me, they can

Here's to a happy, peaceful, stress free, chilled out weekend :j

pure_dead_dopey

thanks True, CCCS think they may settle eventually, probably when I'm around 93 at this rate. I'm going to have a peaceful rugby watching day, see if we can get a win this week.

true27

I've got no Guinness for the rugger this week, being a bit more ladylike with white wine lol. I am going to set myself the target of watching at least one match of this Six Nations in the pub. I think thats obtainable, maybe

coffee-break_2

Afternoon all.

Hope your letters bring positive news Ted and everyone is having a good Saturday.

Still nothing from my creditors....

Enjoy the rugby you rugger-lovers, i'll be watching the footie :beer:

losingbigtime

true27 wrote: »

Hi everyone!

Losing - if you look at the sticky threads at the top of the DebtFreeWannabee page I think the SOA calculator is the 4th or 5th one down. Echo what PDD says, "fixing" the figures could mean that you set out on a course which you can't keep to. If you do a DMP with CCCS they will include all of your debts, including the Nat West ones and they will advise you strongly to open an account with someone that you don't owe money to. Fill in an SOA with your original figures (the £2700 ones) and post it on the main board then you will get some of the best advice, not just from us here but also from the lovely and more experienced people out there. Take care xxx

:j

Hi -well, I've told OH. Was in floods of tears, it kinda came about by accident really as he asked if I wanted to go shopping to this new cheap store, and I said "I cant even afford to go there at the moment" and then I burst into tears and he asked what was going on. I kinda told him in a brief garbled sort of way as it took be by surprise, and so it didnt come out in the best way and not really the whole story. He doesnt understand how I have gotten myself in this situation (neither do I really - it has just snowballed) and I think he's really disappointed in me (which is understandable!) He hasnt shouted or screamed at me, he kinda went quiet and just said "well we will have to make some cutbacks from now on". I exlained the options I have, ie DMP, IVA, self administration etc and said I am dealing with it. He ha left it at that for the moment and we havent really mentioned it for the rest of the day, although he has said we are definitely not getting a takeaway tonight!!!

Im just wondering now, if I have the paperwork coming from the CCCCS re the DMP, if I decide not to go down this route will they refuse to help me? I am thinking that maybe try self administration for the moment, ie; send token payment letters out to the creditors and see how that goes. And then I am thinking IVA may be the best option here. At least he knows now and I want to thamnk you all on here as without this forum I was thinking suicide and all kinds of stupid thoughts.

I need to do an SOA, I will work on this over the next day or so and post it.

thanks so much y'all, I need to now sit down and work out the best course of action, as i am still in deep and I dont think OH really knows how much. xxx

pure_dead_dopey

:Twell done, do you feel a bit better now? So, what I would do next is to try to involve the OH in the SOA, then you can get the bigger picture. Honestly, there are loads of very wise people on here who will be able to have a look and make suggestions. To do a self-administered DMP I think you have to have quite a bit of time available and also be quite assertive to get it all sorted out. You will definitely have to speak to creditors I would think, I know some of ours kept adding interest until we phoned and explained, and some of the banks are simply not good at keep hold or reading letters. If you have CCCS, they do the initial stuff for you, maybe better and then once established, look at going alone??? A DMP is an informal arrangement so you are not tied for ever more. Just a few thoughts, and well done again, I told you we will get there!!!:T