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

Loubylou2

Thank you Gabriella for your support. I'm just feeling a bit scared and it does help to hear other similar stories although I wouldn't wish this on anyone. Is all your interest frozen now? Just wondered what percentage get frozen. If not we'll be going until we die I reckon.:eek:

Ellie I'm so sorry to hear your news. I would def ring to get advice about what to do for the best. I hope you get a new job soon. What do you reckon your chances are? Sound like it was a bolt out of the blue.

Bestrong I can't help you but i'm sure somebody will. Or you could ring CCCs or Payplan for advice.
Good luck everyone.x

eyeopener2

bestrong wrote: »

I am seriously considering going the Dmp route as I am £20,000 in debt - loans, credit cards the lot. I cannot make the minimum payments this month. But my big question is this: what happens when I need to get a new mortgage next year when my tie in period ends - would I lose the house as well as will be credit blacklisted.

Hiya and welcome

If you go down the DMP route your credit will be shot and it will make getting a "deal" on your mortgage nigh on impossible. however you will revert to your banks standard rate.

if your struggling making your minimums though you could find your credit shot to pieces anyway.

have a chat with CCCS or payplan to see what your options are.

You won't lose your house as long as you pay your mortgage so don't worry about that at all.

ring cccs, have a chat and start to put your life back together.

E2

gabriella90

Loubylou2 wrote: »

Thank you Gabriella for your support. I'm just feeling a bit scared and it does help to hear other similar stories although I wouldn't wish this on anyone. Is all your interest frozen now? Just wondered what percentage get frozen. If not we'll be going until we die I reckon.:eek:

Ellie I'm so sorry to hear your news. I would def ring to get advice about what to do for the best. I hope you get a new job soon. What do you reckon your chances are? Sound like it was a bolt out of the blue.

Bestrong I can't help you but i'm sure somebody will. Or you could ring CCCs or Payplan for advice.
Good luck everyone.x

Hey LoubyLou,

My 3 Barclaycard, RBS and MBNA have frozen interest and charges. it will happen at some point x

louise*_2

oh no ellie so sorry to hear your news i hope you can maybe go back to token payments until you find a new job?

hi to everyone else, i am just at the very beginning of my dmp journey so cannot offer much advice yet but i have felt welcome here and its somewhere to write down how i am feeling and get some support from people in similar situations who are not judging me about the mess i am in.

for me seeing our overdraft charges come off today from our hbos account and us having no money into cover it feels very strange, it's real now and all happening!

Ellieseleven

Thank you all for your replies regarding my redundancy. I'm hoping that I can find a job quite quickly but my payoff is around 6 months salary so I can make full payments at the moment. I will give the CCCS a ring to ask what they advise.

If I find a job quickly then this could be a good thing as it will give me a lump sum to throw at my debts, so I'm trying to stay positive at the moment.

Ellie xx

paddlepanda

Hi all,
Really interesting reading the posts here. My wife and I owe 63k to 8 creditors. We have just made our second payment to payplan and it feels as if it is going well. barclays have ,however, rejected our offer (4400 overdrawn on current account - now moved to co-op) despite 6 of the others accepting. Not sure where this take us. Because we earn a reasonable salary we pay nearly 1300 a month towards the plan. Some of that goes towards covermypayments plan. I hate all of this so find great comfort in all of your thoughts and ideas. Slightly worried that our fixed mortgage comes to an end in feb next year - currently 5.5% i think.
Terrified of anything to do with court but hopefuly it won't happen. Any advice on what happens if a windfall arrives - we may receive around 50k when mum sells her house; how much do i declare? anyone have any experience of reduced settlement figures in these circumstances?
Cheers

GibbsRule_No3

Welcome paddlepanda. As we are always saying "they can't have what you haven't got" and if PayPlan have told Barclays that is what you can afford, that is what they get. HSBC have still not "accepted" my offer but are taking the money 6 months in to the DMP (hate typing the next part as don't want to tempt fate but here goes) and I haven't heard anything from them. So guess Barclays will do the same with you, otherwise they pass it over and from other posts that doesn't do any harm either. Sorry cannot help with settlements from windfalls.

louise*_2

hi all i had a phonecall from cccs today in with my agreement i did not include the direct debit mandate form yet as there was talk about making token payments for a bit longer so they rang and i said i had made token payments for sept and was hoping to make the first payment to ccss on 1st november giving me some time to pay back my dad at least a wee bit of what i owe him, however they have said there is no reason the 1st payment cannot be made to them on 1st oct and i have to contact them as soon as with the new bank details? i had read on here it took up to 6 weeks to arrange and i only sent the agreement back the other day? does this mean i will have to pay them in oct?
thanks (also just about wet myself when phone rang and they asked for me formally!)

mikon

Well

Just finished work on this lovely day. Got my favorite sweets with me on the sofa "Wine Gums" and reading some posts on here. Its funny when your out and about especially in the early day of DMP you think everyone is looking at you as if you have green hair and pointing at you saying he/she is on a DMP and you think your the only one on a DMP. But the reality is that your not alone you come on here and you start to relate to what other people say and do and the best of it is you can share your worries with other people in the same boat.

Well have a good weekend and enjoy the sun.

GibbsRule_No3

louise* wrote: »

hi all i had a phonecall from cccs today in with my agreement i did not include the direct debit mandate form yet as there was talk about making token payments for a bit longer so they rang and i said i had made token payments for sept and was hoping to make the first payment to ccss on 1st november giving me some time to pay back my dad at least a wee bit of what i owe him, however they have said there is no reason the 1st payment cannot be made to them on 1st oct and i have to contact them as soon as with the new bank details? i had read on here it took up to 6 weeks to arrange and i only sent the agreement back the other day? does this mean i will have to pay them in oct?
thanks )

I'm with Pay Plan and I think I had the option for when I wanted to start paying them. As things turned out it took longer, after my first contact via the internet web page, to set up than I thought it would. February, and then first payment to Pay Plan on 1st April. In between I had two telephone appointments and sent the paperwork back via snail mail. They then contacted the creditors and informed me what they were going to pay them on my behalf. So I decided to pay March as a token payment and use the money to replace the TV and fridge, both fell victim to the dreaded "DMP Gremlins". Did you ask CCCS if you could delay the first payment or were you so flumoxed by the call that you didn't think to ask? Like most of us you were prbobaly in a daze until you got off the phone and then thought of all the questions. Unless they gave you a reason for wanting payment on 1st October, give them a recall on Monday.