DMP Mutual Support Thread - Part 7

edinburghboy

thanks to twitty and ianmak for their helpful replies

ian i suppose what i was getting at on the mortgage issue is that a lot of people on this thread are saying they are really struggling to stay on the budget agreed with DMP firm

i've given my correct monthly re-mortgage payment but if it would buy me some room to breathe i could perhaps say its a few pounds more than it is

im worried im doing the right thing but will still be absolutely skint every month

ianmak

cupc4kes wrote: »

Hi All :hello:

I need some advice really. Me and OH are looking into a DMP as things arent looking good. At the moment we have a total debt of about £26,000 which I have to say Im really embarrassed and ashamed about. We have just been coping we arent behind with any payments or anything like that but our o/draft is currently creeping up and up. Im also currently 24 weeks pregnant so come Jan when I go on maternity leave I dunno what we're gonna do. I am gonna be contacting Payplan or even CCCS which is the better 1 or are they just the same? Im worried that they will come up with a payment plan and in Jan we arent going to meet it cos of the drop in my pay. Also to make matters worse I actually work for a bank I dont sell or anything like that and from what Ive been told by work collegues who are also on plans it wont affect my job, but as far as Im aware I think I have to have my wages into that bank acc. How would this work. Im also scared about the nasty letters and default notices as at the min I have a high credit rating when I look on Experian I just feel so helpless and such a failure and cant believe how stupid I am to be in this mess . Im sorry if this is in the wrong place but I really need some advice. Thanks for listening xx

As Twitty says, please don't get upset over this, it's really not worth it, espesh with a bairn on the way.

Explain to whichever company you choose (they're as good as each other) about the pregnancy & maternity payments, they will take this into account, and maybe suggest a plan of action.

Not sure about your employer, and I understand you can't really talk to them about it. Is there no support structure in your company, to talk about your problems?

ianmak

edinburghboy wrote: »

thanks to twitty and ianmak for their helpful replies

ian i suppose what i was getting at on the mortgage issue is that a lot of people on this thread are saying they are really struggling to stay on the budget agreed with DMP firm

i've given my correct monthly re-mortgage payment but if it would buy me some room to breathe i could perhaps say its a few pounds more than it is

im worried im doing the right thing but will still be absolutely skint every month

Absolutely not! However, certainly PayPlan will help you to budget so that you will have enough to live on. But even then you will struggle, unless you're really good at sticking to your budget...

It may also be worth whilst making your token payments to setup a slush/emergency fund for any unforseen circumstances that may appear.

helena83

I'm so stressed I've hardly slept. I spoke to HR at work to make sure that my job wouldn't be at risk if I go on a DMP as I work in a bank. Turns out I have to come clean to my line manager about it all and I'm terrified. I was hoping to be able to keep it all confidential but I can't risk going ahead if I could lose my job. I have no idea how to approach the conversation, what to say etc. Do I just blurt it out - "I know I should know better but...." it's going to be so embarassing I don't know if I can do it.

2spicy

Well, just as it looks as though its all going smooth .....
Payplans new Look / system has managed to screw up one payment to a creditor after 18 months of smooth payments.
I managed to find the source of the problem and today, I see that the creditor list is 2 creditors down for this month, and upon checking with those creditors, the payments for this month havnt been recieved ..:(

cupc4kes

Thanks Twitty and Ianmark youve made me feel better about my mess. Im going to ring Payplan Im not sure whether to leave it till end of the week though because Im off work till Fri and I was gonna check what type of procedure the bank have for staff in financial difficulties. I cant imagine it being as effective as a possible DMP as they might try and get me to consolidate as my lending is with them but I suppose I wont know until I look into it. If I do enquire about a DMP Im not obliged to take it am I just thinking whether I should do it before Fri now.

Helena Ive just noticed you work for a bank so do I. You dont have to say or you can PM me but what bank do you work for and do you sell? I know what you mean about the 'we should know better' but I suppose stuff happens and when Ive spoken to others I work with its happened to them so we're not immune and we're not the only ones xx

babyhead

I need to join you guys so I can keep up the smiles.

We have made our first payment on our DMP and so are well in to the first month's budget! Its quite refreshing and very quiet A few of our creditors have already accepted the reduced amounts - which is great as well!!!! Just wish now that I had done it sooner :mad:

Ours is meant to be for about 6 years :eek: But then it is better than the never ending cycle we were in before :rotfl:

I wonder how I will feel about it in a couple of years time? If I will still be feeling happy about it or whether i'll be fed up. probably fed up i would imagine.

ETA: I don't have a number. can i have one please???

Hopelessly_Hopeful

Hi All

In a rush but just wanted to answer a few Qs.

Triggles, sounds like you are being well organised and things are coming into place.

Sadie, try not to worry about the phone calls. It only lasts for a few weeks. Send the don't call me just write to me letters by recorded delivery, pull the phone out when you have guests or can't face it and come here for some support in the interim.

Hitabrickwall, try the pdsa, they can only say no. They will be more bothered about the pets welfare than where the debt came from. You may have a good income but your outcomes are overstreched and in debt so poor for now! Sorry to hear you had to release some of the gold. Have you tried debtline and citizens advice to ask about a small crisis loan?

Ellie, any news on the job front? Damn Santander. I hope you have a the letter in the post to them woman! Grrrrrrr

Cupc welcome to the fold. Technically being on a dmp means you should not have an overdraft but if depends whom you speak to, for example if agreed with dmp providor in advance starting up car finaince after you have signed up your dmp is allowable so do speak to them. CCCS are a charity but yes they do get funded by the creditors, I see it as a half way house, this is why some people still choose to pay for a dmp. CCCS / Payplan will only let you sign up if you agree to treat all creditors fairly, i.e. not meant to pay one off without the others.

Hope that helps

HHx

danilou1910

Hi all,

I joined you guys back in july (haven't got a number tho). I was in process of setting up my DMP and at last after lots of mis-haps it's set to start on 1st of Oct when they take our first payment.

Phone calls and letters have calmed down, except for our no1 pest HSBC. Who are our main creditors, I can not wait to get rid of them. Calling upto 5-8 times a day. Just earlier they called 4 times in 30 mins grrrr

They have sent letters to creditors so just waiting for them to accept so keeping all fingers crossed, but reckon hsbc will be the struggle.

On the up note my hubby is in the pipe line to possibly land an amazing job lasting 2 years on great salary. Baring in mind we have being living week to week on whether my hubby would have work with him being a self employed electrican all our hopes are focused on this job. It should be starting in Nov, so would be a great end to a s****y year and mean we could seriously cut our DMP down which is sitting at a 10 1/2 year life span at the mo.

So all in all not going too bad at mo and finding budget ok, but gonna try and start to take on some challenges now my DMP is gonna start.

Hope everyone is doing ok

Mrs_Ryan

Had a very confusing phone call today. Turns out Harrington Brooks are taking over Freshstart, the company my new DMP is with. Fine, as long as things get PAID! There seems to have been one heck of a mix up as some companies are sayig, yes they've heard and the plans ok, some are claiming they've heard nothing... but I've not had any phone calls/letters apart from CL Finance who were actually very pleasant :eek:
I just hope it gets sorted soon! :mad: