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

Professor_Pat_Pending

Hi guys, just got off the phone to the fab Payplan.
One or two interesting points:
Firstly, I can't start the DMP until May 1st as I did a balance transfer to Egg a couple of weeks ago and apparently you can't enter a DMP with Payplan until you have made 3 monthly payments to a creditor on a 'new' debt. Maybe I was too honest?
Secondly, the lovely lady almost insisted that apart from Egg I make token payments to all creditors from now on, especially MBNA (the interest rate hike(s) were discussed).
Anyway, feeling very positive, getting stuff sent in the post and have my ID number to quote to my creditors. Best start making some calls tomorrow, starting with MBNA. :mad:
PS, mentioned an IVA very briefly, but basically said she didn't feel it was for me, thats with 45k debt and a finish date of 2015!!!!

blossom36

Hi all, can i join?? I have just found this thread and it feels like a lifeline.
Have just printed off a pack from the CCCS site - they recommend a DMP for 9 years!! to pay off almost £30k. I can hardly believe I got into this mess and have been paying essential bills on credit cards for as long as I can remember - always telling myself "something will come up". Well of course it didnt and I have felt so helpless. Now I feel like I am taking charge at last. So await my pack.... I am really scared about getting calls though - I am a single mum with two teenagers at home and I dont want them worrying who will call next. Can I insist my creditors write to me instead?

Thank you

losingbigtime

Professor_Pat_Pending wrote: »

Hi guys, just got off the phone to the fab Payplan.
One or two interesting points:
Firstly, I can't start the DMP until May 1st as I did a balance transfer to Egg a couple of weeks ago and apparently you can't enter a DMP with Payplan until you have made 3 monthly payments to a creditor on a 'new' debt. Maybe I was too honest?
Secondly, the lovely lady almost insisted that apart from Egg I make token payments to all creditors from now on, especially MBNA (the interest rate hike(s) were discussed).
Anyway, feeling very positive, getting stuff sent in the post and have my ID number to quote to my creditors. Best start making some calls tomorrow, starting with MBNA. :mad:
PS, mentioned an IVA very briefly, but basically said she didn't feel it was for me, thats with 45k debt and a finish date of 2015!!!!

Oh JEEZ most of my credit, through panic, has been used in like the last 2 or 3 months. Like panic balance transfers to pay off other creditors and keep from going over my overdraft etc, and like i have mentioned previously, I only got the Tesco loan in Nov 09 and have only just this week made the 1st payment. (payment deferrd for first 3 months) If my DMP is meant to start on 1st April, does this not just look like I have taken out loads of credit with the intention of not paying it back? OMGOMGOMG :mad::eek:

losingbigtime

blossom36 wrote: »

Hi all, can i join?? I have just found this thread and it feels like a lifeline.
Have just printed off a pack from the CCCS site - they recommend a DMP for 9 years!! to pay off almost £30k. I can hardly believe I got into this mess and have been paying essential bills on credit cards for as long as I can remember - always telling myself "something will come up". Well of course it didnt and I have felt so helpless. Now I feel like I am taking charge at last. So await my pack.... I am really scared about getting calls though - I am a single mum with two teenagers at home and I dont want them worrying who will call next. Can I insist my creditors write to me instead?

Thank you

Hi and weklcome - I am in a similar position but with a son and a hubby - hubby knows kind of but not the extent of it (£38000) - I knida told him at weekend but not the whole thing and so am tryin to sort this out without having to place more stress on the family so I dont want any calls either.

This thread has been a great help to me and has gotten me through the last week as i was at rock bottom. Im still a little confused but am looking forward to weekend whre i can sit down with some time and take that time to sort thru things rather than jumping on the net for 2 minutes and panicking, my posts on here and been erratic and panicky and i probably seem quite selfish at the moment while i am i panic mode but i plan to thank everyone later when i can see some light at the end of the vcery dark tunnel!

Keep posting x

Professor_Pat_Pending

losingbigtime wrote: »

Oh JEEZ most of my credit, through panic, has been used in like the last 2 or 3 months. Like panic balance transfers to pay off other creditors and keep from going over my overdraft etc, and like i have mentioned previously, I only got the Tesco loan in Nov 09 and have only just this week made the 1st payment. (payment deferrd for first 3 months) If my DMP is meant to start on 1st April, does this not just look like I have taken out loads of credit with the intention of not paying it back? OMGOMGOMG :mad::eek:

Don't panic, I volunteered the information, she wouldn't have asked for it and she didnt say anything about getting credit witht he intention of not paying it.
I am sure if you talk it through with the CCCS/payplan they will clarify it. In any event, the lovely lady told me to start token payments now until May 1st. So if the worst comes to the worst and you can't start for a few months just make the token payments.
You haven't done anything wrong, so please don't get too stressed.

pure_dead_dopey

welcome blosson, well done Pat, this was something CCCS didn't ask us at all cos I had been spending to keep up with Christmas, in fact my 2 month "haven't used a credit card" anniversary is coming up on 23rd Feb and we started out DMP on 1st Feb, maybe different companies, different rules. and the cc I last used was Cap 1 who accepted first. So all is not lost Losing, anyone could see you were just trying to get by and if you think about it most people will have been in that situation. So far most of our creditors have accepted, Lloyds and Hbos are still charging interest but very much reduced, but they have accepted and wiped charges, so I am definitely seeing light where there absolutely wasn't any really

nataz

Evening all... seems there are even more new bods tonight, big hello from me

Wow well done Losing so glad you're getting started. I promise each day it'll start to feel like the debts falling away! Good idea to get all your paperwork sorted, I find thats the only way I can keep on top of things.

Prof Pat great to hear you so positive, I didnt know about that either (and I did a balance transfer right before my DMP!!) Never mind, they didnt ask and Im not gonna be the one to tell

Tedsd hope you had fun swimming, bet it was better than spending all day emptying the potty! Only wish I could train DS, might stop him doing it in the bath, yuk!

Professor_Pat_Pending

Thanks, I think I was too honest. Oh well, have a £700 a month plan and that will cover all min payments for a couple of months except MBNA (x2).......so token payments it is for them then.
Payplan advised all token payments should be sent recorded!!

nataz

I didnt send mine recorded and they all got there, guess they're just playing safe.

Off to bed, have a good sleep everyone

gabriella90

Hi Professor

I sent all mine recorded. I know its a little extra money which is obviously tight for all of us. But it means that you 100% know that your letter has been received.

Good luck with MBNA they were the first to reply to me with a letter accpeting the offer and reducing interest to 0% and no charges. I'm still waiting for bleeping Barclaycard to come back to me. They couldn't comment apparently on the interest they were going to charge me. How nice!!

Speak to you all soon. We will get there!
x