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

Professor_Pat_Pending

newbeginning wrote: »

But doesn't it feel good when you reach pay day and realise you can do it?

Absolutely, feels great, but is still difficult to change your lifestyle overnight, however, beggars can't be choosers and all that!! PP

NittyGritty

i went to CCCS filled in the debt remedy part, however, when i entered the outstanding balance and put credit card, it came with an auto repayment which is wrong?? you cant type this is, as its done auto, how can i enter the correct minium payment for that card, as its shows nearly £80 more than whats currently on credit card,

when you click enter DMP part at end it asks for you name address, etc, does it also let you fill in your debts there also before you submit to send off for welcome pack, or does it take what u put in on debt remedy at start

pure_dead_dopey

CCCS seem to work out their own statuatory minimum repayments, the thing not to stress about is that they will always be higher than most of those you are actually paying, so has little effect on your payments, the balance is the important bit. CCCS use these balances to work out your prorata payments and they just use their methods, and they remain in your DMP for its duration, so that if a company doesn't stop interest, they don't benefit from this by getting higher payments. They will send you a pack with all the detail from the remedy for you to check and sign and you can phone up and discuss this with one of their staff. Once you are up and running you can change balances (if for instance a creditor keeps adding interest) but you can never change those original pro rata payments, and this is good. Go on press the button!!

ljm23k

NittyGritty wrote: »

i went to CCCS filled in the debt remedy part, however, when i entered the outstanding balance and put credit card, it came with an auto repayment which is wrong?? you cant type this is, as its done auto, how can i enter the correct minium payment for that card, as its shows nearly £80 more than whats currently on credit card,

when you click enter DMP part at end it asks for you name address, etc, does it also let you fill in your debts there also before you submit to send off for welcome pack, or does it take what u put in on debt remedy at start

Hi nittygritty (not named after a comb for the parents of school aged childrens worst nightmare?)

Anyway, first you can ignore the monthly payment that the debt remedy assumes. Mine was wrong too. Your budget will determine what you can afford to pay and it will divided fairly, based on the total owed to each creditor, rather than on the current min payment.

I think once you get so far as entering your address, the figures can't be altered online. When you receive your welcome pack you will have to return copies of creditors statements so the actual amounts offered to each creditor will be based on your total debt at that stage. Its more important to get your budget right as you will have a direct debit to set up once your get your pack BUT if there are any changes to your budget, this can be done over the phone.

So don't panic, fill it in to the best of your knowledge and any changes needed can be made.

ljm23k

Oh C R A P I wrote a long message about Halifax P I S S I N G me off but I lost it. Will try again later, tiddlypeeps to get ready for bed....

NittyGritty

hi thanks for that, do you know how soon the direct debit is setup after returning the welcome pack statement thing, assuming the creditors accept new payments,

regret70

NittyGritty wrote: »

hi thanks for that, do you know how soon the direct debit is setup after returning the welcome pack statement thing, assuming the creditors accept new payments,

cccs ask you to make your first payment through the post office before setting up a DD.

I know i have been stressed out about setting up my DMP, but i keep thinking about how stressed i would be by now had i not set it up, and it doesnt bear thinking about. also is it naughty that i look on the loans thread and read the ones by people scratching around desperately asking where they can find bad credit loans, and i secretly let out a sigh of relief that its no longer me doing that and i now have the belief that i have moved on for the better. (wow what a long sentence!)

ljm23k

NittyGritty wrote: »

hi thanks for that, do you know how soon the direct debit is setup after returning the welcome pack statement thing, assuming the creditors accept new payments,

Well, in the welcome pack you get a template letter to send to your creditors notifying them of the dmp being set up and you also should send a token payment of £1 each(yes, £1!!!) until the start date. You can set the start date to suit, so if you have an few months ahead of irregular income etc, you can pay tokens for a few months, otherwise, the sooner you send back the statements, the sooner you will be up and running. You don't have to wait for your creditors to accept or decline, CCCS will send them the payment anyway. If you act fast, you could send tokens for July and be ready to start on August 1st. You can make the first payment to CCCS at the post office, if you don't get you DD set up in time. You also have the option of paying on the 1st or 10th of the month.

gabriella90

Hi all

Just dropping by, i haven't dissappeared into an Abyss yet!! God its 2 weeks since i logged on. Hope you are all ok, will catch up on pages missed 1st.

Group hugs

G x

ljm23k

regret70 wrote: »

cccs ask you to make your first payment through the post office before setting up a DD.

I know i have been stressed out about setting up my DMP, but i keep thinking about how stressed i would be by now had i not set it up, and it doesnt bear thinking about. also is it naughty that i look on the loans thread and read the ones by people scratching around desperately asking where they can find bad credit loans, and i secretly let out a sigh of relief that its no longer me doing that and i now have the belief that i have moved on for the better. (wow what a long sentence!)

At the start I read all the other (good, bad and ugly) threads too. Now I just read this one, it helps keep me away from crazy panic, I'll panic when I have to!:rotfl: