Without a paddle... support for anyone starting a DMP in 2010 (part2)

ljm23k

BB7 wrote: »

Hello can someone tell me what is CCCS & payplan I have been all round this forum and have been given this link by a life saver from the diarys who has pointed me in this direction. Can someone help me with the following..? I am in the progess of a DMP is this the best option for me should i use a charity organisation or payment agency. I have been told that the C-Organisations work for the creditors. I have debts to HSBC for loan overdraft and credit card total of 14000 and another 6500 to capital one total depts 20500. I lost my job January 2009 and was receiving JSA until April 2010. I have not been able to find another job and have decided to go self employed. I am earning around 1100 a month with 240 left to pay debt's. I have sent a letter to all my creditor and a budget household sheet explaning my circumstances on the advice of citizen advice because dmp can't help me till i have been trading for 3 month's. I am terrified of what will happen next none of my family now about this i own my own home i am scared the creditors will take my home. Please can someone tell me if they can do this. I AM SORRY IF I HAVE PUT THIS ON SOMEONE ELSE'S THREAD IT'S MY FIRST TIME AM NOT SURE HOW TO USE THIS FORUM....

Welcome BB7!

CCCS and Payplan are DMP charities who set up and manage the DMP on your behalf. I have heard the same thing but the payment organisations are taking so much of your money, it could be months before any of it reaches your creditors. I am with CCCS myself, but either one is a safe bet. No one here has reported any bad experiences with either.

As far as I know, you can still set things in motion even if you have to wait 3 months. CCCS/Payplan can start setting things up, give you a ref number and letter templates etc so you can send token payments each month to each of your creditors until the start date of the DMP. As long as you keep up to date with you mortgage and any other debts secured on your property, your home will be safe. You also should take care not to fall behind in other priorty debts: council tax/rates etc TV license, telephone, electric etc etc. Credit cards, catalogues, unsecured loans and overdrafts are non-priority debts and can be included in a DMP. You should also change your bank account FIRST if you have any debts with your bank.

If you can check back here tomorrow morning, there should be some more experienced DMPers than myself. Some have had several months of token payments while I had only one, so they should be able to tell you more about what to expect in this case.

Good luck!

BB7

thankyou so much x x

true27

BB7 wrote: »

Hello can someone tell me what is CCCS & payplan I have been all round this forum and have been given this link by a life saver from the diarys who has pointed me in this direction. Can someone help me with the following..? I am in the progess of a DMP is this the best option for me should i use a charity organisation or payment agency. I have been told that the C-Organisations work for the creditors. I have debts to HSBC for loan overdraft and credit card total of 14000 and another 6500 to capital one total depts 20500. I lost my job January 2009 and was receiving JSA until April 2010. I have not been able to find another job and have decided to go self employed. I am earning around 1100 a month with 240 left to pay debt's. I have sent a letter to all my creditor and a budget household sheet explaning my circumstances on the advice of citizen advice because dmp can't help me till i have been trading for 3 month's. I am terrified of what will happen next none of my family now about this i own my own home i am scared the creditors will take my home. Please can someone tell me if they can do this. I AM SORRY IF I HAVE PUT THIS ON SOMEONE ELSE'S THREAD IT'S MY FIRST TIME AM NOT SURE HOW TO USE THIS FORUM....

Hiya BB7,

Don't worry, you're in the right place!

For the next 3 months while you get your business up and running, send your creditors a token payment of £1 each with a letter explaining that you are acting on the advice of the CAB. In the meantime, use the £240 you have spare to build up an emergency fund and contact either PayPlan or CCCS. The charities are better than the fee charging management companies and most creditors prefer that you use a charity because it means more money going directly to them!

The important thing to remember is that you are acting on your difficulties so you're not going to loose your home. Unsecured creditors cannot take your home without going through a very long and very expensive legal process which has to start with them obtaining a CCJ against you. If any of your creditors do attempt to do this while you are on a DMP, the judge will rule in your favour as you are already making payments towards the debt.

I hope thats put your mind at rest, please keep popping back with any questions and let us know how you're getting on

pure_dead_dopey

Morning All

BB7, the guys have said it all, don't use a charging company for a DMP, they work for themselves not you, never pay fr what you can get free.
great advice from True and Ljm.
Mama thinking about you
off to work and its raining again, can feel a serious case of trenchfoot developing here....................

true27

Thanks Teddy much appreciated!! Hows that report going?

Has anyone on here got any experience of selling Avon? Its something I'm thinking about to earn a few extra pennies to bring that DFD a little closer. Always wanted to run my own business but never have any ideas lol

eyeopener2

Chuffin Santander have added £77 worth of their wonderful charges to my current account.

I've emailed CCCS through the online thingummy and I will compose a letter to Santander this afternoon making my feelings known.

I will be polite as possible but this has narked me some what.

E2

true27

Santander don't seem to have a clue what they're doing, they've accepted me twice and changed their mind on one account and we haven't heard a peep on the other! Ejits I tell you!

mikon

Hi everyone

There seems to be alot of newcomers to the site welcome to you all.

Some good news today.

1st payment made to CCCS today. It feels great making one payment rather than robbing peter to pay paul and then realising peter has no money.

2nd bit of good news Northern Rock have accepted the offer CCCS have made them and will be reviewed annually. Not sure if the interest and charges have been stopped, it says in the letter that they accept the offer it will extend the term of the loan but at least they have accepted. So thank you Northern Rock i was expecting them to refuse especially after this weeks news of job cuts.

No word from Shiti or Barclaycard they are the only 2 outstanding. Expecting Barclaycard to refuse as Barclays refused the offers on the overdraft and the loan.

Regards

eyeopener2

mikon wrote: »

Hi everyone


1st payment made to CCCS today. It feels great making one payment rather than robbing peter to pay paul and then realising peter has no money.


Regards

I know that feeling all too well Mikon.

pure_dead_dopey

yup ted, that's what I did and they emailed one straight away to email address.

looking good!!!!