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

regret70

thanks for all your lovely comments! i feel so relieved, even if it all hasnt been set up yet its still a start and i am grateful!

glad its not just me that can answer a phone in two seconds flat!

i will be a regular on here i think!

loving the dodgy hugs!!

bluesnapper

Hi Al,
I'm a total newbie to all this lark, and frankly baffled by all the jargon , acronyms, (paddles ?) , etc.

Finally realized last week that I can longer keep up payments to 3 Credit cards and a loan. Although not in default or overdue with them yet, I'm close to the limit on cards and have a while to go on a load (2 months).

Savings after wiped out after being made redundant last year, so it's pretty desperate..

Calling the Card companies is a bloomin' hopeless task!
I phoned 3 today :
- EGG C: on hold for 28 minutes, had to quit (it was lunch time at work)
- Cap 1CC: just DO NOT LISTEN, and asked me to pay by debit card on several occasions, before finally agreeing to send me 'some forms' (in <7 working days) to make them a repayment offer.
- Halifax CC: Won't do a thing or agree to any arrangement until I default - Jeez.
Isn't that just waiting for an inevtable train crash , whihc will rack up costs for everyone ?

Haven't been able to contact Santander (loan) yet...

Spoke to CCCS who recommend either DMP or Self-administration - any advice people ?

In total about £29k in the hole, and able to repay about 1/3 of the expected amount (i.e. about £320/month vs £980)

Dunno how this compares, but it feels pretty roucgh, and I haben't ven had a stroppy letter or phone call yet.

any help ? Cheers

Professor_Pat_Pending

bluesnapper wrote: »

Hi Al,
I'm a total newbie to all this lark, and frankly baffled by all the jargon , acronyms, (paddles ?) , etc.

Finally realized last week that I can longer keep up payments to 3 Credit cards and a loan. Although not in default or overdue with them yet, I'm close to the limit on cards and have a while to go on a load (2 months).

Savings after wiped out after being made redundant last year, so it's pretty desperate..

Calling the Card companies is a bloomin' hopeless task!
I phoned 3 today :
- EGG C: on hold for 28 minutes, had to quit (it was lunch time at work)
- Cap 1CC: just DO NOT LISTEN, and asked me to pay by debit card on several occasions, before finally agreeing to send me 'some forms' (in <7 working days) to make them a repayment offer.
- Halifax CC: Won't do a thing or agree to any arrangement until I default - Jeez.
Isn't that just waiting for an inevtable train crash , whihc will rack up costs for everyone ?

Haven't been able to contact Santander (loan) yet...

Spoke to CCCS who recommend either DMP or Self-administration - any advice people ?

In total about £29k in the hole, and able to repay about 1/3 of the expected amount (i.e. about £320/month vs £980)

Dunno how this compares, but it feels pretty roucgh, and I haben't ven had a stroppy letter or phone call yet.

any help ? Cheers

You sound very similar to those of us that were on this thread in Jan/Feb and we are either on or about to start DMPs with CCCS or Payplan.
Obviously it's your call, but I don't think any of us regret for one minute our decisions. Good luck. PP

Hopelessly_Hopeful

bluesnapper wrote: »

Hi Al,
I'm a total newbie to all this lark, and frankly baffled by all the jargon , acronyms, (paddles ?) , etc.

Finally realized last week that I can longer keep up payments to 3 Credit cards and a loan. Although not in default or overdue with them yet, I'm close to the limit on cards and have a while to go on a load (2 months).

Savings after wiped out after being made redundant last year, so it's pretty desperate..

Calling the Card companies is a bloomin' hopeless task!
I phoned 3 today :
- EGG C: on hold for 28 minutes, had to quit (it was lunch time at work)
- Cap 1CC: just DO NOT LISTEN, and asked me to pay by debit card on several occasions, before finally agreeing to send me 'some forms' (in <7 working days) to make them a repayment offer.
- Halifax CC: Won't do a thing or agree to any arrangement until I default - Jeez.
Isn't that just waiting for an inevtable train crash , whihc will rack up costs for everyone ?

Haven't been able to contact Santander (loan) yet...

Spoke to CCCS who recommend either DMP or Self-administration - any advice people ?

In total about £29k in the hole, and able to repay about 1/3 of the expected amount (i.e. about £320/month vs £980)

Dunno how this compares, but it feels pretty roucgh, and I haben't ven had a stroppy letter or phone call yet.

any help ? Cheers

Welcome Blue

Try the credit card repayment calculator on the site and see where that will leave you. Then think DMP £320 if circumstances stay the same or get better, subject to interest charged you will be DFD at 7.5 - 9 years which is no doubt much earlier than the repayment one. You will not be running away, you will still repay, you have paid much cost before now you are asking for a break or lower interest. Dmps are about facing up to your responsibilities but having a living budget. Shout up if you have any questions or wobbly moments, we will get there together!


Hello to everyone else, late in, but will post tomorrow

HHx

jeddy5

gabriella90 wrote: »

Hi you HAVE DONE THE RIGHT THING WELL DONE:T:T and welcome. Feel free to ask anything x

I second that - we are all here to help!

Phew! That call I got from Cap Quest was a wrong number! I called them back thinking that one of my creditors had sold a debt to a DCA without telling anyone but it was someone else they were after and they live at my old address. Lucky as reading up about Cap Quest they sound like a real bunch of cowboys!

Still waiting for HSBC to say yay or nay to my overdraft/loan offer from PayPlan.

Pay day tomorrow and for the first time in ages I am in credit on payday! Feels grrrrreat!:j

How are you getting along Gabbie?

bluesnapper

does it take long to set up via CCCS?

I noticed things like 'applied in April, hope to start in June..'.

I'm getting really concerned and haven't slept in a week, because I'll start to default in in the next 10 days!

Also: is there a user guide to the jargon anywhere ?
DMP, DFD, etc. can't decypher it all..

When a DMP is set up, do you still get demands, threats, legal letters, Court summons , and all that ?
I mean , does it work? or do you just cut shotrt your payments and end up in court or dealing with debt collectors ?

.... nervous....

bluesnapper

LBM? DFD? Paddle? DFW? PADs?

I don't just need hep with payments, I can barely understand the lingo !

mikon

Hi everyone

I came across this document which is very interesting. It is the Banking Standards on Loans. It is worth a read especially bluesnapper banks should not be making you default not according to the banking standards which is drawn up by the lending standards board.

Good luck everyone

http://www.lendingstandardsboard.org...endingcode.pdf

bluesnapper

Thanks Mikon, a spot of bedtime reading.
BS

bluesnapper

can you check the link and repost, or insert is as plain text , I can't open it ..
thanks again
BS