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

newbeginning_2

How does it work with the DMP though, have you had to stop paying them all - and when you start paying again have you had to go back up to full payments??

You're a braver one than me!

pure_dead_dopey

you stop the DMP, send the CCA requests and wait. We have continued to save the DMP money into a seperate account and live on the budget. If and when any come out as fully enforceable, I hopefully will have enough to offer f&f to those, the unenforceable ones will moan and groan and eventually go away, cos they can't take you to court if the don't have a valid CCA. They can do everything else, ie default you (defaulted anyway with the DMP), phone, just ignore them, send letters and they do but that is it. If the letters need a reply, Niddy has fab templates to reply with. So far its working for me, and I'm not stressed and we should be debt free before our DMP debtfree date, so nothing to lose and a lot to gain.

newbeginning_2

Glad it's working for you PDD, you sure sound that you know your stuff!

Professor_Pat_Pending

pure_dead_dopey wrote: »

well done PPP on stopping smoking its a dirty dangerous and daft habit!!!

think of all the money you'll save!

saw you in the orange place the other night but you never said hello!

Yep, still lurking around there. Trying desperately to muster up the courage to go UE, you sound like you are doing great.

Hopelessly_Hopeful

Well done on your smoke free adventures PPP

HHx

Ellieseleven

tedsd wrote: »

I wish I knew about DMPs sooner than I did.

Hi Gibbs, SO agree with you, my balances would have been smaller and I'd have been well on my way to paying them off by now... it was the fear of what may happen to me which kept me borrowing more to stay afloat.... still, better now than never and I wouldn't have 'met' you lovely lot if I'd cleared it sooner

Me too! I threw thousands of pounds at our debt which hardly made a dent:o

mamajojo

:T:T:T:TProf:j:j:j:j Well done you with the giving up smoking!

VicB

*Walks in VERY sheepishly*

Hi everyone, I've been AWOL for ages, I'm SO sorry, PLEASE forgive me :o:(

In my defence, I've been rather busy! Here's a little rundown....(and hopefully it'll explain my absence)...

The BF and I finally moved out! Hurrah! :j Amazingly no problems with bank references or anything and all went very smoothly. We're about to pay our 2nd month rent and so far everything is ok. I really don't want to reduce my DMP payments so we'll see how we get on, getting very good at bargain hunting in the Poundshop! Just wish Xmas wasn't around the corner!

DMP - Still running pretty smoothly.

- HSBC have defaulted, but as yet I haven't heard from DCA, it's been about 6 weeks now, not sure when it'll happen.
- Sainsbury's Bank STILL refusing to play ball, so what I'm paying them isn't actually making ANY dent in the debt at all. They're claiming 'you broke the agreement as the payments are received from CCCS after the due date'!! Grrrrr about to send ANOTHER letter.:mad:
- Barclaycard / Next / Nationwide / Virgin - all accepting payments, no probs.
- Capital One, haven't heard a peep for MONTHS, but they seem to be accepting payments.

SOOOOO what have I missed, tell me everything!

And I really hope you forgive me, I've been thinking of you all, I promise xx

pure_dead_dopey

Hi Vic

Good to see you back, I gave up the DMP and am doing UE, going OK so far...........

Want_to_be_free

Professor_Pat_Pending wrote: »

Want to be free, you have got to look at an F and F with your £800, I found this a while ago and think it's a good guide to offers:

Debt still with original creditor NO default = 90% or more
Debt with original creditor but with a default = 75% or more
Debt with 'in house' debt collectors of the original creditor = 60% or more
Debt with external debt collector however still property of original credit = 40% or more
Debt owned(purchased) by external debt collectors = 25% or more

Cheers all. PP

Dear PPP, you really know your stuff- and I am a bit confused, My DMP is with PayPlan/ So what you are saying is that I can offer settlement to just one of my creditors and not offer any to others? Would this be possible? I owe approx £600 to MBNA , this is the smallest debt I have, and I could offer them £540 to settle the debt.. What about others? Will they in return charge me interest? Is it better to save my money until I have lump some, lets say £5000 and offer that to my creditors?

I know £800 is not much but it is a lot for me and if I could get rid off one of my 5 creditors, however the smallest, I will be the happiest person