DMP Mutual Support Thread - Part 7

Loubylou2

The waiting is bad BUT the not overspending is great and being back in control is priceless. Our heads had been in the sand for too long.

Yes I'm still worried whilst waiting for creditors to freeze interest but that feeling in the pit of my stomach every time I spent what I didn't have is gone now.:D
Good luck

Homershairdo

Journey started. First letters and emails went today. Am "bricking" it.

Can I have a nice number to join the family please??

Twit_Head

Loubylou2 wrote: »

We have made 3 payments but are still waiting to hear something from Nat West. In the meantime others starting their DMP journey after us seem to be getting their payments accepted much quicker and interest frozen. Wondered if thats because we consolidated in the past so only have 3 creditors -two very large?

Some news. I wrote a complaining letter on the advice of forum members to Bank of Irelend/Post Office who were lumping on big charges. We had also had a stroppy letter from their debt collection agency Anyway I haven't heard back except to say my 'complaint' was in the system. But I have noticed that the payment is now showing as 'accepted' on our payplan/justabank page. I realise this doesn't mean they'll stop interest but is that a step in the right direction? I hope so.
Come on Nat West put me out of my misery!

Creditors are a law unto themselves. I'm getting the impression a lot of folk like yourself are getting stressed by the start up process. It's really not worth 'getting your knickers in a twist' about it all. Some will reply, some won't at all. If they do it often seems to take a wee while for them to come back at you. Some accept - no probs/no interest. Some might try an element of 'arm-twisting', just to test the waters and see if you really had that £000,000 tucked away in a tin somewhere but then just accept.
You've all done your best and faced up to your debts. Just make sure you keep paying your agreed amount.
So hard to do, but try not to worry in advance - take one step at a time and deal with problems if and when they arrive.
Wishing you all the best.

'Twitty'

the_tooth_fairy

Twit_Head wrote: »

Creditors are a law unto themselves. I'm getting the impression a lot of folk like yourself are getting stressed by the start up process. It's really not worth 'getting your knickers in a twist' about it all. Some will reply, some won't at all. If they do it often seems to take a wee while for them to come back at you. Some accept - no probs/no interest. Some might try an element of 'arm-twisting', just to test the waters and see if you really had that £000,000 tucked away in a tin somewhere but then just accept.
You've all done your best and faced up to your debts. Just make sure you keep paying your agreed amount.
So hard to do, but try not to worry in advance - take one step at a time and deal with problems if and when they arrive.
Wishing you all the best.

'Twitty'

If anything, this is a (very long) game of patience! I remember at the start being desperate to hear anything from my creditors about accepting our DMP and stopping charges. Personally, I truly believe that all the lending institutions are being inundated with DMP's, and offers to make reduced payments. The whole country is one big, big mess at this time, so if that helps to put anyone's mind at rest (that at least you are trying to fairly pay back what you owe),then most of us on here are probably reasonably small fry compared to their bigger picture. I hope so, anyway! Welcome to all our Newbies.:)

ttfx

sugar9

Loubylou2 wrote: »

The waiting is bad BUT the not overspending is great and being back in control is priceless. Our heads had been in the sand for too long.

Yes I'm still worried whilst waiting for creditors to freeze interest but that feeling in the pit of my stomach every time I spent what I didn't have is gone now.:D
Good luck

Hi thanks for your reply. Thats exactly how I feel as we have been spending 'what is not ours' for far too long. Hopefully it will soon be sorted and we will be on our way to clearing out debts. Hope it works out for your too. Best of luck.

Twit_Head

the_tooth_fairy wrote: »

If anything, this is a (very long) game of patience! I remember at the start being desperate to hear anything from my creditors about accepting our DMP and stopping charges. Personally, I truly believe that all the lending institutions are being inundated with DMP's, and offers to make reduced payments. The whole country is one big, big mess at this time, so if that helps to put anyone's mind at rest (that at least you are trying to fairly pay back what you owe),then most of us on here are probably reasonably small fry compared to their bigger picture. I hope so, anyway! Welcome to all our Newbies.:)

ttfx

Wise words TF. I feel there is a whole load of trouble out there waiting to explode at the moment. Lots of honest, hardworking folk trying to patch up the gaps with credit but it's got to implode sooner or later. The problems and heartache will get much bigger.
Think you're so right about us being 'small fry.' Once the DMP is up and running I'm sure (in the majority of cases) you become just a dusty file in the basement somewhere.
As you say welcome to all new starters. Keep reading and learning!

'Twitty'

Ellieseleven

Just dropping in to say hello to everyone:)

Regarding phonecalls, we received a lot of phonecalls to start with (we have 11 creditors) but it is getting towards 3 months now since we first stopped payments to our CC's and the phonecalls have dwindled to almost nothing and the letters have settled down also.

I was absolutely dreading the calls, letters etc. in the beginning but so far it hasn't been as scary as I first thought it would be but the relief that we feel has been tremendous and I am so glad that we have taken this step. We are adjusting to our budget and paying for everything in cash is satisfying somehow.

To all you newbies, hang on in there and I'm sure that in a couple of months time you too will be happy to have gone down this route... and just think you are step closer to being debt free:j

Ellie xx

cupc4kes

Hi All,

It is busy today. Well Ive found out today I can switch my wages so thats good and we have an appt tomorrow at OH's bank to switch everything over. Going to get super organised tomorrow as well with a file to put everything in and keep together so we know when we've contacted companies who we've spoken to etc. Still think we're gonna make another payment this month as OH's wages go in next week then mine the following week and the loan goes out on the 21st so DMP proberly wont start till Dec but at least it gives chance for all the DD's a chance to switch. Out of interest when you've all switched accounts how long has it roughly took your DDs to swap?
I totally agree with you Helena83 the advice on here is brill and without it I wouldnt have managed. xx

Ellieseleven

Hi cupc4kes,

Regarding our DD's, most of ours went out on 1st of the month or very close so I let them go and then cancelled straight after. This gave me a month to set them up on our new account which worked out really well and gave me plenty of time to set them all up

Ellie xx

cupc4kes

Thanks for the reply x

Most of ours leave on the 1st but we just want to time everything right so everything can be switched over ASAP. I'll check with the bank tomorrow and see how long they reckon for everything to swap over and then its just gonna have to be a case of keeping a very very close on the account to make sure moneys transferred over to cover the DD's and make sure ALL DD's are switched as we dont want anything to go wrong. xx