Help I'm scared fo DMP!

Albiebabes

hopefull1 wrote: »

Hi Albiebabes

I am on a dmp with cccs and I have alll the same creditors as you except for the last one. All mine frozen interest and charges form word go I never get any telephone calls or letters from them. I have been on a dmp for 2 years now so just hope it carries on as it has done so far.

Mbna where great with me and the general rule of thumb with them is if you can pay your debt of with them in 10 years they will keep it in house and stop any charges.

Have you got a mortgaged house if so sometimes they can go for charging orders and then this will have to be paid when you sell the house. Order of sales are very very rare. I have not had any ccjs yet.

Hope this helps

That sounds promising apart from my DMP is due to be over 10 years initially, in fact prob 15 years:eek:. However, after the first 6-12 months, my Hubbie will be contributing to the pot so I aim to pay at least an extra £100 a month so hopefully the timespan will shorten o about 9 years.Flippen eck, charging orders, never thought about that (you can't tell I'm a worrier at all:rotfl:). Had a quick look into it and it does appear that they go for CO if you miss a payment on a CCJ? Also noted that the more creds you have and if the debts are sole name but property in joint names, its harder for the creds to be successful? It would be handy to know at what point the likes of MBNA would play nasty for this time of thing...better get the property in joints names just in case.....:cool:

Tixy

thewad wrote: »

Tixy

http://forums.moneysavingexpert.com/showthread.html?t=2388003

Which area of the forums is this address.

The Wad

As pure dead dopey says its in the diaries section. If you follow the link then you can always see what part of the forum you are in by looking at the blue line under the main toolbar.

Home » Forums > Pure Money > Debt-Free Wannabe > Debt Free Diaries ...

thewad

Missed that, cheers for that folks.

The Wad
:beer::beer::beer::beer::beer::beer:

JES_F1

Albiebabes wrote: »

My creditors are:

Barclays
Barclaycard
Egg
MBNA
Nector Amex

I have read HORROR stories about MBNA and just really worried that a DMP won't work, or if I choose either CCCS or Payplan, whether I make the right choice (i.e. does one have a better relationship with the creditors)...

Hello :hello:

I've been on a DMP with the CCCS for two years. My creditors include MBNA, Egg, and American Express - all three accepted my DMP almost straight away, freezing interest and fees.

Egg defaulted me but have kept the account in-house.

AMEX also defaulted my account but passed it to RMA Resolve, who I've had no problems with at all but are very difficult to get information out of - I had to send a SAR request to get confirmation of my DMP payments and outstanding balance.

Though I've read some horror stories about MBNA, I've had no problem with them. They're my second biggest creditor - I owed them about £8,000 at the start - but they accepted my DMP quickly. I'm currently just waiting for confirmation that they'll continue to accept it for a further (third) 12-month period.