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

Professor_Pat_Pending

Quick update on F and Fs:

BoS (Moorcroft) £3.1k debt, offered £750 F and F. Refused, wanted £2k.
MBNA £2.6k debt, offered £600, being considered.
Opus, £2.8k, offered £650, being considered.

Will keep you all informed. PP

Mrs_Trouble

I have posted on the DMP Mutual Suport thread but thought I could post here too for some advice....

I have finally faced up to the enormity of my debts and that I cannot pay them off which I have been trying to do since 2007 - they just keep getting bigger.

Once I have organised a new bank account and moved my salary and Direct Debits I will be setting up a DMP hopefully on 1st May. I am absolutely scared stiff, mostly of the following happening:-

- creditors ringing me at work
- Debt Collectors being sent to my front door
- constant telephone calls
- no one accepting my reduced payments and stopping interest

I am also really worried as I have only just taken out a credit card with Santander which is 0% for 15 months, but I have to include it in the plan as I have to deal with the whole situation. When I applied for it my head was firmly buried in the sand, I had no intention to do a DMP at that time but they may think I have been incredibly deceitful

I am going through CCCS for my DMP - will I still have to deal with my creditors or will they deal with it for me and what happens after I send my payment on 1st May?

Tonight I have cut up every single credit card and I have a debit card in my purse and that it is for the first time in 15 years My Husband cannot understand why I am not relieved but I have convinced myself that my DMP payment will not be accepted - it will be £550 per month instead of £890 regular payments. My creditors are Santander, Northern Rock, Mint, Tesco and Barclaycard. I have been with the last 4 for many many years.

I am also really worried they might apply for CCJ's etc as if they do I would rather just struggle on for years as it will affect my job.

My Husband was going to do a joint DMP with me but this would have drained our income completely. Fortunately he has been able to cash in a policy which will pay nearly half the debt in his name and his father is giving him some money to pay the majority of the rest off. This means we have his income to live off and so theoretically we will be ok and we never intend to touch credit again.

I just desperately need some reassurance that I am doing the right thing and that I will not be hung, drawn and quartered by my creditors.....

Hopelessly_Hopeful

Mrs_Trouble wrote: »

I have posted on the DMP Mutual Suport thread but thought I could post here too for some advice....

I have finally faced up to the enormity of my debts and that I cannot pay them off which I have been trying to do since 2007 - they just keep getting bigger.

Once I have organised a new bank account and moved my salary and Direct Debits I will be setting up a DMP hopefully on 1st May. I am absolutely scared stiff, mostly of the following happening:-

- creditors ringing me at work
- Debt Collectors being sent to my front door
- constant telephone calls
- no one accepting my reduced payments and stopping interest

I am also really worried as I have only just taken out a credit card with Santander which is 0% for 15 months, but I have to include it in the plan as I have to deal with the whole situation. When I applied for it my head was firmly buried in the sand, I had no intention to do a DMP at that time but they may think I have been incredibly deceitful

I am going through CCCS for my DMP - will I still have to deal with my creditors or will they deal with it for me and what happens after I send my payment on 1st May?

Tonight I have cut up every single credit card and I have a debit card in my purse and that it is for the first time in 15 years My Husband cannot understand why I am not relieved but I have convinced myself that my DMP payment will not be accepted - it will be £550 per month instead of £890 regular payments. My creditors are Santander, Northern Rock, Mint, Tesco and Barclaycard. I have been with the last 4 for many many years.

I am also really worried they might apply for CCJ's etc as if they do I would rather just struggle on for years as it will affect my job.

My Husband was going to do a joint DMP with me but this would have drained our income completely. Fortunately he has been able to cash in a policy which will pay nearly half the debt in his name and his father is giving him some money to pay the majority of the rest off. This means we have his income to live off and so theoretically we will be ok and we never intend to touch credit again.

I just desperately need some reassurance that I am doing the right thing and that I will not be hung, drawn and quartered by my creditors.....

Morning and welcome to the thread.

It will get better. There may be a stormy few weeks but it WILL get better. It's only money, you haven't killed anyone. You aren't walking away from your responsibility, you intend to pay it back so chin up!

Read the back thread of here and the DMP one, you'll see people have had similar journey and are coming out through the other side.

Re work number -Remove your work number from any systems. Send letters to each creditor stating you want to pay the debt back. Also state you wish only want to communicate either through CCCS or in writting. Make sure you send the letter recorded delivery. It will take a few weeks possibly months to get onto systems. They may deny knowledge. Don't feel obliged to talk on the phone if you don't want to. If they do call you at work just politely say it's not convenient, take name and number, tell them you will make contact after you have finished work. Go home and blast them with another letter and either threaten them or report them. Just because you are in debt it doesn't mean you don't have rights. If you feel upto a chat just politely explain you are on a DMP, give them your reference number. Don't get into going through reasons or working through your SOA, tell them you will ask CCCS to resend. As Dopey wold say they can have your money but not your life. Keep a log of contacts. Get busy making files up so you can track information, it will channel the nerves productively.

Re collectors at the door - this rarely happens as it is an expensive way of collection for them. They don't have any rights to come in or even be at your property, it's trespass. Don't forget you'll have sent letter as above. If they threaten it, and you will see from back posts they usually say MAY not WILL remind them of the writting only, follow up in writting, threaten them with reporting them or report them.

There are plenty of template example letters for all these situations to cut down on the hassle for you. I don't actually mind speaking on the phone but there was a stage I dreaded it. Once I realised I had rights too I was OK. I either politely gave them my number and asked them to communicate in writting for which they accepted. If I had any resistance I found that when you start telling them the harrassment is out of order and asking for their name, number etc they soon want to get off the line, they know you have rights and dont want to be in the firing line but they will try it on if they think you don't know.

Re constant calls - either answer and follow above steps or igmore the phone for a few weeks until you can action the above. Mine stopped on the whole within a few weeks I have 12 creditors and a 4 year DMP.

Re no one accepting reduced payments - DMPs are like gentlemans agreements, not compulsory. It's about being reasonable both ways. They won't really have much choice to accept reduced payments. They would rather have it back over a period of time than not at all. You are committed to paying it back. Some may not bother to tell you it's accepted. As for stopping interest, it's very random but generally most will reduce or stop, this can take several months to settle down. To give you some idea my debt rose my 2.3% in the first month, only fell by 0.1% in the second month, when I make my 11th payment next month I will have paid almost 20% off.

I'm saying be ready for a stormy few weeks, it will feel like it's getting worse before it gets better. It DOES get better and you ARE heading in the right direction, keep that in mind.

Re Santander - Many of us have been there, switching from Peter to Paul to find a way out. Technically you should't do it if you know you can't pay back. They'd have to proove you did it knowingly and maliciously. not worth the hassle for them, anyone will see it was desperation and believing it was a way out. I'd suggest you did it in good faith, it will be OK.

Re after 1st May - Ideally you will work with CCCS, you'll find that you want to take charge and lead communications yourself as your confidence grows. Remember you can do this in writting, you can do it and we can help support you.

Re credit cards, well done on cutting them up. Another big step. You recognised the hardship. You want to pay back. You applied and accepted DMP, you've sorted hubby. You've sorted bank account, you found the site. See how many steps you've taken, you are moving forward already!

Re long time - loyalty doesn't pay with banks, they just want your money. Having just four to deal with will cut down on hassle for you. Off the rogues roll call you don't have any uterlry nasty ones on there, it could be Hellifax or payday type people.

CCJs, could happen but very unlikely, especially if you stivk to conditions, no new lending and pay up the DMP.

Now - are you going to continue to be a victim or be a survivor, the choice is yours. Post away, we are all here to help each other.

Good luck and well done for getting here.

HHx

Mephista

Professor_Pat_Pending wrote: »

Quick update on F and Fs:

BoS (Moorcroft) £3.1k debt, offered £750 F and F. Refused, wanted £2k.
MBNA £2.6k debt, offered £600, being considered.
Opus, £2.8k, offered £650, being considered.

Will keep you all informed. PP

Goodness. That's a helluva lot better than I thougth it would be. If they accept that would be very interesting.

Please do let us know how you get on.

Mephista

Hi Hopelessly Hopeful

I firstly wanted to take the chance to thank you and note for myself and others the fact that you took the time to write this long note down to help someone who felt the way you probably did at the start. You are an angel in disguise and your name clearly does not reflect the person you truly are.

As for Mrs Trouble - well done you. Hopelessly is completely right. You have taken more steps to taking control of your life than you think and when you look back in even a years time you will congratulate yourself for making the right decision. We all have massively varying debts and we all make massively varying payment arrangements back depending on our own very personal situations. Never compare yourself with what someone else has got and done - just take benefit of the wonderful advice they have learnt by their own trials and tribulations to save you having to go through the same. WELCOME WELCOME WELCOME. This site will become an addiction and a friend.

Finally all, I just wanted to let you know that my situation has just become completely crap and a lot worse in that I will probably have to review my perfect arrangements because my husband left me over the weekend and will no longer be providing me with any sort of financial support - he always really felt it was my problem anyway(!). I am facing a little bit of a nightmare and some traumatic times ahead but in advance, I want to thank all my new friends and helpers on this site who have been the only people to get me through the last year with my head held high. Thank you all.

newbeginning_2

Sending you a big hug Mephista x

eyeopener2

Mrs_Trouble wrote: »

I have posted on the DMP Mutual Suport thread but thought I could post here too for some advice....

I have finally faced up to the enormity of my debts and that I cannot pay them off which I have been trying to do since 2007 - they just keep getting bigger.

Once I have organised a new bank account and moved my salary and Direct Debits I will be setting up a DMP hopefully on 1st May. I am absolutely scared stiff, mostly of the following happening:-

- creditors ringing me at work
- Debt Collectors being sent to my front door
- constant telephone calls
- no one accepting my reduced payments and stopping interest

I am also really worried as I have only just taken out a credit card with Santander which is 0% for 15 months, but I have to include it in the plan as I have to deal with the whole situation. When I applied for it my head was firmly buried in the sand, I had no intention to do a DMP at that time but they may think I have been incredibly deceitful

I am going through CCCS for my DMP - will I still have to deal with my creditors or will they deal with it for me and what happens after I send my payment on 1st May?

Tonight I have cut up every single credit card and I have a debit card in my purse and that it is for the first time in 15 years My Husband cannot understand why I am not relieved but I have convinced myself that my DMP payment will not be accepted - it will be £550 per month instead of £890 regular payments. My creditors are Santander, Northern Rock, Mint, Tesco and Barclaycard. I have been with the last 4 for many many years.

I am also really worried they might apply for CCJ's etc as if they do I would rather just struggle on for years as it will affect my job.

My Husband was going to do a joint DMP with me but this would have drained our income completely. Fortunately he has been able to cash in a policy which will pay nearly half the debt in his name and his father is giving him some money to pay the majority of the rest off. This means we have his income to live off and so theoretically we will be ok and we never intend to touch credit again.

I just desperately need some reassurance that I am doing the right thing and that I will not be hung, drawn and quartered by my creditors.....

Hey! Have some reasurrance, its free round here. We all need it when we begin this trip.

HH has given great advice here and I will only add one thing. Don't worry about your creditors accepting your payments. They are not too low. My payment was £566 against a minimum/loan payment of £994, I also had the PayDay loan gang threatening me with ritual slaughter, but they all accepted in the end. Most of them straight away, so try and relax a bit and let the next few weeks take their course.

BArclaycard will probably ring a lot but then suddenly stop. Santander will probably send you mountains of guff (they still send me default after default 10 months on from the start of this, idiots).Tesco were fine with me, they just stropped a bit then went OK, accepted.

To sum up, it will be a little trying at first but it gets better.

Just pay the stuff back and then plan on what your going to do when debt free. Which you will be one day whether its in 1 year or 10 or more.

Keep posting though, cos we will all have been through whatever the creditors throw at you (most of which is empty threats and mounds of paper, and lets face it, a mound of paper ain't gonna hurt you)

E2

eyeopener2

Mephista

Sorry I missed the last paragraph. I third (!) that hug. Keep strong.

E2

GibbsRule_No3

:grouphug::grouphug: have a group hug Mephista.

Mrs_Trouble

Thank you so much for the replies - I know I want so many assurances but I am completely pooing myself!

Today's progress has been to:-
obtain copies of all my current statements
printed off form to change direct debits to another account
completed the DMP form and just waiting for the pack

I have spoke to the lovely CCCS who do not make me feel like a complete failure and as I need some time to sort out my Bank I am going to start payments on the 1st May. I can manage the minimum payments next month because of some work expenses and hopefully by the time the next payments are due the plan will be in place.

It feels a bit naughty but I have removed my home number from my details on the credit card files and I have just left my mobile number on it instead. I can cope with calls to my mobile as I don't answer to people I don't know anyway, but I don't want the kids or my husband having to ferry calls when I'm at work. I just need to go into Santander as I am sure they have my work phone number and I can't have them contacting me at work.

Maybe when I am more settled in my new found DFW home I can reveal quite how terrible my figure is but for now I will just say "it's bad" :eek:

If I am starting the DMP on 1st May but returning the form to CCCS next week when should I write to my creditors, should it be shortly before the next payment is due?

I have had such a huge rollercoaster of emotions since Friday but I realised today that my husband called me today and I didn't have a dread that he had opened some post and discovered my secret. That feeling will far outweigh the stress of sorting out a DMP.

The best thing I have done however is below:-