DMP Mutual Support Thread - Part 7

TightbudgetJO

Thank you, yes that makes sense. I have just tried to ring but couldn't get through. Must be busy cos its lunchtime! Will try again in a bit :-)

Trinitrotoluene

My current partner got into a lot of debt with her ex. The debt company that her ex went with is charging them 40 quid a month! Is this excessive? Thought this was the best place to ask

TightbudgetJO

Most people on this forum are with CCCS or Payplan and they do not charge for their services.

ianmak

Trinitrotoluene wrote: »

My current partner got into a lot of debt with her ex. The debt company that her ex went with is charging them 40 quid a month! Is this excessive? Thought this was the best place to ask

It depends on the amount of debt I guess? Are they on a DMP? It maybe worth trying the following companies?

www.nationaldebtline.co.uk
www.payplan.com
www.cccs.co.uk

All provide free advice, and the last two provide free DMPs.

Ellieseleven

Hello everyone, just popping in to say Hello. We seem to be a bit in limbo at the moment, our first payment has gone to CCCS on 1st Sept so just waiting for that to be divided between preditors.

Still getting letters stating the obvious i.e. we are in arrears - how much must it cost these companies to keep sending out these letters?

Still job searching but had an interview today which went quite well.

Hope that everyone is o.k. and coping without too much stress:)

Ellie xx

Twit_Head

the_tooth_fairy wrote: »

Yes, as everyone on here knows (!) we have had our fair share of the Halifax! FYI, our original payment to them, pre-DMP was £401, once PP did their calculations, it went up to £448. Despite missing only one payment, and sending a £10 postal order, we got a letter from them last month to say they were 'seriously' reviewing our repayments to them. When I called, they said it was a computer generated letter, and we were actually ahead of our repayments. It just goes to show that one end of that company has no idea what is happening at the other!
By the way,friends, bad news re: BOS Visa and Sainsburys Bank Visa, we got the most massive bill from them each this morning, we had hoped that they had seen the light and stopped charging interest, but it seems they had a computer fault, and all the interest from June onwards has been added on. At least it's only 2 creditors from 10, so it's not so bad, but frustrating all the same.
By the way, Jasper, I loved your Mums cook book (Life is too short to stuff a mushroom) I read it in the nineties, and it could well be a metaphor for our little forum!! Let us know how you get on, good luck,

ttfx

Just goes to show TF doesn't it? Some you win, some you lose - there is no rhyme,reason or logic to how creditors react even through the life of just one DMP.
Sorry to hear you're still having problems , hope you get the interest reduced/stopped in the near future.
And it's a good thing life's too short for mushroom stuffing (I read the book too!) You'd need a magnifying glass for the sort of mushroom I can afford :rotfl:

'Twitty'

Twit_Head

Ellieseleven wrote: »

Hello everyone, just popping in to say Hello. We seem to be a bit in limbo at the moment, our first payment has gone to CCCS on 1st Sept so just waiting for that to be divided between preditors.

Still getting letters stating the obvious i.e. we are in arrears - how much must it cost these companies to keep sending out these letters?

Still job searching but had an interview today which went quite well.

Hope that everyone is o.k. and coping without too much stress:)

Ellie xx

Hope you have some good news soon re: the job situation.
Perhaps you could be gainfully employed generating letters to people fallen on hard times and living on DMPs??? - plenty of opportunities there! :rotfl:

'Twitty'

freedomnow

Hello,

I am new here, feeling worried about debt and scared about the future.

I have completed CCCS Debt Remedy and spoken to CCCS who have recommended a DMP.

We do have enough equity in our to pay everything off but would be left with nothing or undertake a DMP which would take an estimated 5 years to pay everything off at the end of which equity would still be intact.

We are happy where we live at the moment but I'm concerned what a DMP will do to our credit rating, how long will it stay on our file, will we ever be able to move in the future and get another mortgage.

Any help would be gratefully received and I take my hat off to you all for facing up to your debts and supporting one another. I feel so ashamed of my situation.

With gratitude.

pure_dead_dopey

don't feel ashamed, you made a mistake, and so have we all, its not a hanging offence and its not the end of the world.
so chin up firstly.
a DMP will trash your credit rating as you will get defaults and your credit file will be marked with them. They take 6 years to fall off your credit file. If you sell your house and use the equity to pay your debts, where will you live? If you wanted to buy again, you will need a substantial deposit, how long would it take to save this? or are you happy just to rent?
If you are in a DMP, you are paying your debts while maintaining your home, a DMP payment should be set at a realistic level, so that you can live a life (no porsches or luxury cruises though!!)
the other thing you need to think about is how fast you would be able to sell the house and realise the monies, and can you pay the bills in the meantime? if you have missed payments, you'll already have damaged the credit rating.
i would have a good think and another chat with CCCS, put forward to them your questions and get somemore answers. Read everything available on here and other websites and then try to make an informed decision. In this situation, knowledge is power and the financial services industry can't do a quarter of what they want you to believe that they can. The watchword has to be if you haven't got it, they can't have it. I would start from that premise and think on. Good luck and keep coming back here, you'll always get the best advice we can offer, cos we've all got the teeshirt!!!

ianmak

pure_dead_dopey wrote: »

cos we've all got the teeshirt!!!

Now there's an idea.... what would we have as a slogan?

"DMPers do it the hard way"?

"They can't have what you haven't got"?

"I was on a DMP for X years and all I got was this lousy T-Shirt"?

Answers on a postcard.