DMP Mutual Support Thread - Part 7

ianmak

unsuremom wrote: »

Hi, i have been umming and ahhing over doin a dmp over the last few months and today I contacted payplan and have an interview with them tomorrow at 12.
Basically I have approx £33K of unsecured debts made up fro 2 loans with santander, 3 od with santander 2 x barclaycards mbna and 2 store cards. I spoke with others on the DFW site who advised me to try to sell things etc and quidco and use the funds to repay bits and benefit from the snowball calculator before plunging into a dmp. I have tried to do this and in fact my dh and I have made £400 from carboots, £150 from ebay and I have £96 in quidco (although have not received all of this as yet) the issue has been that although we have had this extra money we have had emergencies happen and so we have still not paid anything off (both cars broke down and basically used all of the money we made).
I have been off work with anxiety and panic attacks due to our financial issues and am finding that this is not easing as I am constantly worryin how I will make ends meet and makin sure i dont miss a mortgage payment.
In the end DH saw how ill it was making me and suggested we bite the bullet and look into a DMP.
Today I have opened another account with Co-op and as i said at the start of this post, I have an interview with Payplan tomorrow. I am worried however as I do not know what to expect over the coming weeks. Could I get ccjs??, is it straight forward? will I ever get credit again (not that I necessarily want it)?

Another thing worrying me is that i work for santander could they refuse a dmp and take the money straight from my wages. I am so confused and still dont know if by doing this could I make my situation worse.

Please can anyone advise :undecided

It's all good and well raising funds to pay off debts, but it's not going to clear 33k! Unless you sold a house...

What you need to work out (and what PP will go through with you) is how much you can afford to put towards your debt - the spare cash as it were.

If this works out to give you a 5-10 year debt free date, then doing a DMP is probably a good option. You need to consider if you carried on as you are, when you would be debt free?

If you end up with a 3 year dfd (for example) then maybe you could look at other options (such as rejigging your budget).

But I'm in no way qualified at this and it's best to talk it all through with PayPlan. I will say though that it's the best thing I have ever done (bar going to New Orleans just before the Sh*t hit the fan and I realised the mess I was in!).

Please carry on posting, others will be along to help. We're a good bunch here (honest!).

the_tooth_fairy

ianmak wrote: »

It's all good and well raising funds to pay off debts, but it's not going to clear 33k! Unless you sold a house...

What you need to work out (and what PP will go through with you) is how much you can afford to put towards your debt - the spare cash as it were.

If this works out to give you a 5-10 year debt free date, then doing a DMP is probably a good option. You need to consider if you carried on as you are, when you would be debt free?

If you end up with a 3 year dfd (for example) then maybe you could look at other options (such as rejigging your budget).

But I'm in no way qualified at this and it's best to talk it all through with PayPlan. I will say though that it's the best thing I have ever done (bar going to New Orleans just before the Sh*t hit the fan and I realised the mess I was in!).

Please carry on posting, others will be along to help. We're a good bunch here (honest!).

Couldn't agree more, it sounds as if a DMP is the only way you are going to get anywhere with your debt. Think about saving just a bit of interest with the credit cards and store cards alone (even if they just reduce the interest, never mind stop it all together, which most of ours have done), add that together over a year and you will see how quickly the debt comes down, not snowballs, in that time. Good Luck! and as Ian says, keep posting, especially if all this is starting to really get you down, we are all here to help you through the hard stuff at the start of a DMP. Let's face it, you couldn't be in a scarier place than you are now, so perhaps now is the time to really grip the problem, so you can move on, and feel better. We are PP customers, they couldn't have treated us better, it's really not that bad. Keep in touch!
ttfx

Ellieseleven

Just popping in to say "Hi!" - I received my first statement from CCCS which was encouraging as the amount owed is coming down!!

Also, received a statement from MBNA with NO interest or charges:o

I've started my new job so have been tied up with that all week but it takes my mind off all things to do with owing money!

Second payment to CCCS due on Friday, strange how I find myself looking forward to this payment going out instead of dreading how I'm going to find the money to pay CC's

Good Luck to everyone starting out on their DMP, I can't tell you what a difference it has made to our lives;)

Take care all
Ellie xx

scouselad1974

Hi All

Just a quick DMP update from myself, my 14th payment has just been distributed to my creditors and like the previous poster I to now look forward to making my DMP Deposit each month.

All of my creditors are now on board and the only time I hear from them is when my reduced repayment plans expire, which is usually every 12 months. I still receive statements from most of my creditors apart from those that have been sold to a DCA, I check my balances online with these companies instead.

A DMP with CCCS is the best thing I have ever done, I still have a very long way to go but it's much better than sitting back and doing nothing.

For any newbies please keep on top of everything yourself, ie check your balances with your creditors regularly and if they are different to what they should be, then query it. If a creditor harrases you, don't put up with it, show them that you can't be bullied, by getting The FOS involved and quoting the contents of The OFT guide to debt collection whenever you need to.

Last but not least, whenever you are feeling down or need a bit of advice no matter how silly your question may seem, pop on here for support, the guys and girls here are great and have helped me no end.

Thanks guys

ianmak

scouselad1974 wrote: »

Last but not least, whenever you are feeling down or need a bit of advice no matter how silly your question may seem, pop on here for support, the guys and girls here are great and have helped me no end.

Thanks guys

Also as said before, no question is a simple or a stupid one, and we won' make presumptions of anyone, as we all say, we're in it together!

jasperconran

jasperconran wrote: »

Well thought I would update re: scalifax. re-sent OH letter special delivery and according to the post office, scalifax received it last thursday (9th). So I rang Monday, and was told havent got it call back on Thursday, so I have just rung and surprise surprise, they are saying system not updated, cant help you havent got it.

The guy I spoke to stated if they only received it Thursday and with the weekend, it takes a while for everything to be updated, so now ive been told to ring back on Monday:mad: how hard is it???? I am concerned now that if I ring back on Monday and they still claim they havent got it, it doesnt leave us much time as the last letter we received last week stated give us £1800 by 23rd Sept or we will pass the account to a DCA or take you to court.

So what do you think guys? Was the letter just one of their standard, "we want to scare the s**t out of you so you pay us more money" ploy or what???? As I have stated before OH suffers from depression and ME and stress, so I am trying my hardest to deal with this on my own. I cant believe this, it just doesnt leave me much time, shall i contact the FOS do you think?

thanks

well what a surprise, we have never heard from Halifax and I have now rang 4 times. I was told to ring back end of the month, so I rang this morning and guess what, I was told yet again, we never received your letter! no surprises there then!!!

I am so :mad: now. I have been told to fax a copy of the letter we sent over, well my fax machine at home is now broken anyway so will have to find a local library thats got one I suppose. Why make is so hard for everyone? I have sent OH token payment off as per the letter and the deadline of 23rd September they gave us on the default letter has now passed, so now what????? What do I do??

any advice anyone?? I am starting to worry that halifax will carry out their threat of court or something. In someways I just wish the account would be passed to a DCA, we might actually get somewhere then and get some peace!!!

thanks

scouselad1974

Hi

Unfortunatley this is what I have come to expect of Halifax and the only thing I can suggest is that you continue paying and contact The FOS for advice.

Believe me I tried contacting them for nearly 6 months and they just never bothered to reply and refused to acknowladge any of my letters. As soon as The FOS got involved things improved greatly.

Loubylou2

Hi everyone
I've just posted this same quetion of the other thread.
I've got a problem and not sure why I haven't registered this before!!

Thing is the DMP is in OH's name as most of the debt is in his name. BUT the OD was in joint names. I've had an answerphone message from our old bank account manager (telephone banking) asking me to ring her about something very important.
She is going to want to know what I am going to do about the OD presumably. The whole OD is showing on OH's DMP & of course both our incomes are taken into account but should I have a seperate DMP?.

I really would like some advice about what to say to her tomorrow as I think I should ring her. We've heard nothing much from Nat West so far even though we've been on our DMP for over 2 months.
Any advice would as always be gratefully received.
Thanks everyone.X

2spicy

Loubylou2 wrote: »

Hi everyone
I've just posted this same quetion of the other thread.
I've got a problem and not sure why I haven't registered this before!!

Thing is the DMP is in OH's name as most of the debt is in his name. BUT the OD was in joint names. I've had an answerphone message from our old bank account manager (telephone banking) asking me to ring her about something very important.
She is going to want to know what I am going to do about the OD presumably. The whole OD is showing on OH's DMP & of course both our incomes are taken into account but should I have a seperate DMP?.

I really would like some advice about what to say to her tomorrow as I think I should ring her. We've heard nothing much from Nat West so far even though we've been on our DMP for over 2 months.
Any advice would as always be gratefully received.
Thanks everyone.X

No point in guessing, phone them, find out what they want.
If the OH's DMP lists the account as part of his DMP, then you are both financially linked. Im not 100% on this, but its my understanding that if you are financially linked to a debt and it is in the DMP, then essentially, you are both accountable for that debt, and hence if the bank have accepted the DMP payments for the account, then as far as you need to be concerned, they have accepted the payments and the debt will be paid off when the DMP finishes.
How mych is the debt ? (small or large)?
Firstly, donot hide from it, get on the phone, find out what they want.
Donot be pressurised into making a decision, whatever they say, ask for it to be put in writing. if its money they want, tell them you donot have any, and its being divided up between all creditors on the DMP and paying one more than another is favouritism and would jeopardise the DMP.

We have both our names on our DMP, and as such have both our incomes taken into account.
If your income is taken into account, then I would be assuming you are both jointly on the DMP and given the full balance is in OH's name ... is immaterial.

ex-rayday

I have just posted on main forum, looks like I have Provident wanting me to take a loan out to pay a debt off that is in dispute from 2007! Any long termers may remember, she is coming back to the house next week, I shall arm myself ready but she never said when, gits - excuse my language!

Hope everyone is OK had a quick read of some of the positives and balances coming down, it is nice to think each month that goes by we owe less, take care folks and have a good weekend x