Whatever happened to legally protected DMP’s?

fermi

blind-as-a-bat wrote: »

re-worded my main post, seems my dry sense of humour has got me in bother yet again

:cool: I almost commented.

IF

Bump...............x :j

sizzler

With you on this one bat

sizzler:)

mscfsb

totally agree Bat you have my vote. :beer:

blind-as-a-bat_2

Thanks for the support and votes so far, but....................

I thought after all the hassle those on DMP's get, this would have got a bit more support, are you happy doing your best and getting nothing but stress in return?

fermi

Bat:

Why not post a link to this on the DMP mutual support thread?

blind-as-a-bat_2

fermi wrote: »

Bat:

Why not post a link to this on the DMP mutual support thread?

Was just going to say, where is the nice blue link text :rotfl:

fermi

blind-as-a-bat wrote: »

Was just going to say, where is the nice blue link text :rotfl:

You get a couple of mins to put in in before it's too obvious you forgot. :cool:

blind-as-a-bat_2

fermi wrote: »

You get a couple of mins to put in in before it's too obvious you forgot. :cool:

Not with me you dont:cool::p:rotfl:

Poosmate

Interesting thread.

I hope I'm not going to get shot down in flames or called a troll because I have a different view but this is how I see it. You might want to look away now if you are easily offended, it is not my intention to offend just my point of view from a different perspective.

I am not on a DMP. I have been in serious financial difficulties in the past - even being advised to go BR. So I do know what it's like to battle financial institutes - even breaking down and crying my eyes out in a branch of HFC because they wouldn't close a joint account I was paying into and sh1thead was taking out of).

I am in debt and I struggle to pay it, up until recently minimum payments only. When I say struggle, I mean I am very careful to reduce electric and gas consumption (I sleep downstairs because my gas fire doesn't heat the upstairs and my bedroom reaches a high of 9.5d in winter). None of my lights are on unless I'm in the kitchen cooking or the landing light so go to the loo. Have no new gadgets (my mobile phone is about 4 years old and PAYG - use about £2 pcm). I don't possess an ipod or any kind of music system (had to sell stuff to get out of said mess earlier). My furniture/appliances are 14 years old (settee is second hand but it works) heck my microwave is 22 years old! Fridge is about 8 years old, tv about 10 yrs old (bought 2nd hand from brother). I ask for "Aid parcels" for birthday/Christmas from family which equals, cleaning products, cat food, tinned food etc.

I have lived frugally for years and learnt the last couple of years how to budget better through this site. This means I can now make small overpayments on my highest interest rate credit card.

I pay interest on my 3 credit cards (which are now never used). My DFD is currently July 2018.

What I don't understand is how people can get in so deep that every month they get bounced payments and charges on top of interest? I'm not talking about people who have had life changed circumstances happen to them. I'm talking about people who have overspent for years until their credit ran out. Being unable to pay all of your creditors doesn't happen overnight.

I am in debt because of circumstances, because I couldn't budget properly and yes I have been known to overspend (I admit it, though not any more). Sometimes I just wonder how other people's "struggles" compare to mine especially when I see SOA's with huge grocery, entertainment, mobile, hairdressing, holiday and presents costs. Then I wonder, sitting in the dark, why some people who've had a whale of a time getting into debt, have the latest mobile on £30pcm contract, all mod cons etc. then get annoyed that the creditors want their money back with interest and they feel it's unfair.

I guess I'll be called up for these thoughts because I pay my debts with interest but I honestly believe that so many people are going down the DMP route and expecting their creditors to stop interest altogether that the DMP "market" is imploding on itself.

Maybe if people were to be more fair to the banks and offer to pay interest at a reduced rate of say 5% then the creditors would be more willing to accept the DMP's without such a fuss. But it's down to the people who have spent the credit to accept some responsibility and not try to wriggle out of paying what they owe.

Of course that could be open to abuse too, like someone takes out a credit card with 16.9%, maxes it and decides they only want to pay 5% they go on a DMP.

Incidentally, 1 of my credit cards was taken out 20 years ago, do you think they'll have the CCA for it? I doubt it. But I would not go down that route simply because I took out a credit card knowing the interest rate and knowing that it could go up and I spent the money. The issuing bank didn't tell me to, I just did it. I think it is morally wrong to refuse to pay back someone else's money that you've spent, knowing at the time that you had to pay it back, on a technicality.

I know I'm going against the grain on this thread but I really do honestly believe the DMP route is being oversubscribed to and the system is going to break and a lot more people will be very hurt by it.

Poo