DMP Mutual Support Thread - Part 7

dmb_2

Couldn't agree more. DMP was my only real option and its been a godsend so far. The worry has all but disappeared. The stress of learning finally to live on a tight budget is nothing to what I felt a year ago before taking the plunge and contacting National Debt Helpline and then a few months later CCCS. I'm 6 months into my DMP and got another 6 years to go but at long last I feel as though I'm in control of debt rather than debt controlling me.:j
Support from mse threads is amazing. It can feel very lonely when you're trying to fight debt on your own with what seems like endless phone calls and letters from hungry creditors (preditors is a much better word!)
Good luck to everyone on DMPs whatever stage you're at

the_tooth_fairy

Well done HH! I remember when that first payment goes, what a relief! We've just paid DMP payment no9! Got a message on Justabank congratulating us on completing another 3 months of our plan. Roll on Nov 2014!

The support on here really is brilliant. Reading some of my early posts, it's a wonder I wasn't in a strait jacket! Everyone was so kind and patient, giving me answers to the (seemingly endless) questions that I had.

Anyway, it's Crunchie day!!!

ttfx

Triggles

Hmm.. well, we sent letters to all our creditors advising them we would be increasing the monthly payments as we had managed to scrape a bit more out of our monthly budget to repay debts.

We've just received one letter back saying basically "that's nice of you to offer - fill out this form showing your incomes/outgoings and we'll let you know if it's acceptable." :mad: I'm sorry, can't they just say "thank you for making the effort and increasing your payment" ?!?! Not to mention that we just sent one to them in January. I won't even bother bringing it to their attention that I wasn't "offering" this amount, I was letting them know that it is what I am paying. LOL

A second letter received today from another creditor said basically thank you for letting us know of the "small increase of the payment you can now afford" -- we DOUBLED the stupid payment for heaven's sake!! I know it's not much, but at least we're making the effort. Then they go on to say "as you have not responded to our request for a list of other creditors with the balances outstanding we cannot suppress the interest and fees." Interesting, as if this is the only thing they are waiting for, they've dropped the ball somewhere. We sent them this in JANUARY with the income/outgoings sheet that we sent to ALL our creditors! :mad: So they say the account will be defaulting in at the end of the month anyway. Is there even a point in sending a letter saying that we've sent them this already? Maybe I should send it and point out to them that if this was all they were waiting for, they should have cancelled the fees and interest in January when we actually sent them the list and request that they refund the interest and fees they have been charging since January?? Or let the account go into default (which it most likely will anyway, scheduled to do so at end of month) and hope when it's sold to a DCA that they're more amenable?

jcorbygas

Hi everyone - I posted last week because I had just contacted CCCS to try and start a DMP. Because of my husband being self employed they needed 3 months bank statements, copies of suppliers invoices, copies of invoices to our customer (around 6 per day for 3 months!) so it has taken me nearly a week to do all that.
I was feeling OK about it all but now I have the most major step and that is coming clean and admitting everything to OH!!
He is aware that we owe money but not how much and I was waiting till everything was sorted out paperwork wise so I had a plan to show him. Well now that is all done, I am feeling so sick again- although (and I know it sounds dreadful after 28 years marriage) but even if he said he was going to leave me it wouldnt make me feel any worse than I have been feeling before contacting CCCS.
So its either tonight or tomorrow I will have to pluck up the courage and tell him so please wish me luck.
Thanks so much

mummum2

jcorbygas wrote: »

Hi everyone - I posted last week because I had just contacted CCCS to try and start a DMP. Because of my husband being self employed they needed 3 months bank statements, copies of suppliers invoices, copies of invoices to our customer (around 6 per day for 3 months!) so it has taken me nearly a week to do all that.
I was feeling OK about it all but now I have the most major step and that is coming clean and admitting everything to OH!!
He is aware that we owe money but not how much and I was waiting till everything was sorted out paperwork wise so I had a plan to show him. Well now that is all done, I am feeling so sick again- although (and I know it sounds dreadful after 28 years marriage) but even if he said he was going to leave me it wouldnt make me feel any worse than I have been feeling before contacting CCCS.
So its either tonight or tomorrow I will have to pluck up the courage and tell him so please wish me luck.
Thanks so much

Good luck!

MM2

jcorbygas

Thanks - I have just written everything out in a letter to him which I think will be easier for him but have to pick my moment.

notamongoose

Hi everyone, I've got a lot of use out of this site and these forums, and have just decided to set up a DMP so I thought I'd write up what's happened so far for comments and for my own records/analysis.

I'd been ignoring calls from an 0845 number, assuming it was from a creditor asking for money. I have £3000 of cc debts on three cards, £2000 overdraft and a private debt being handled by Incasso for £1700 for my tuition fees. I barely keep up with the credit card payments, usually incurring a few £12 charges every few months as i fall behind and catch up.

I answered the phone one time, and it was Baines & Ernst wanting to help me with my finances. I went through the whole process with them, telling them my debts, incomings etc. I'm self employed, bringing in ~£200 a week as a piano tuner.
So it got to them telling me about their fees and alarm bells started ringing. £35/month of my £100/month payment would go direct to them, and my first two payments would also go direct to them without being passed on to creditors. I allowed them to send me my welcome pack anyway.

While I waited for that I did some research and realised I could get the same service for free from CCCS, so I decided to ring B&E and tell them I wouldn't be going ahead. The guy I spoke to was very, very rude, told me CCCS is not a charity (he was right it IS funded by my creditors, but that's OK as far as I can see), they'd not do a proper DMP, and a lot of other things. He was very aware of this site, and called Martin Lewis a 'comedian'. I accused him of trying to scare me and he denied it, so I told him that I would expect to never hear from B&E again. Left me quite angry actually!

So I'm getting a pack sent from CCCS after doing their debt remedy process, and I'm looking forward to getting the process started.

I've already applied and been accepted for a new bank account with A&L, it has an overdraft but if they do not agree to transfer all my overdraft I will tell them i don't want any overdraft facility at all and use it as a basic bank account.

My credit cards are with MBNA, Natwest and Tesco, in order of size. Anyone have any experience of these three and how they react to DMP notifications? My overdraft is with Natwest, same question?

The one thing I'm a little worried about is Incasso. I owe them for my final year's tuition fees for my piano tuning training. I've just agreed to start paying £40 a month, which if I was more honest with myself when I filled in their financial situation form I'd definitely not have been able to offer. I've decided to make the first payment on this plan as a show of good will, and accompany it with a letter telling them of my situation and that to expect to be contacted about my DMP soon with my revised payment plan. Do you think they will accept this?

I'm only 9 months into my new business, it's picking up slowly, so I think I will be able to increase my payments quite regularly over the next couple of years. I'm hoping to be dept free in 5 years!

Thanks everybody for your help and support

the_tooth_fairy

jcorbygas wrote: »

Thanks - I have just written everything out in a letter to him which I think will be easier for him but have to pick my moment.

I bet he has a good idea of what's going on, you know. It's very easy for an OH to take a step back and let one of the partnership do all the money stuff.

After 28 years together I'm sure you have had plenty of ups and downs, at least you are being positive about moving forward and will be posting tomorrow to tell us all was well!

Good Luck!

ttfx

jupster

Hi Guys

Sent off the info today and my token payments to the creditors, not had my new bank account set up yet but have transferred my money into my partners account for now as they have started to off set payments!!!

Should have my new bank account up and running the begining of next week. Am glad i have done it but nervous about the response. Halifax have threatened if i dont pay a certain amount in a fe weeks time they are going to close the account and pass it to a debt collector. Is this good news?

Hope everyone else is doing ok and i am hopingh that once i get into the ins and outs i can advise others for now i am merley a novice!!!!!!!!!!!!!!!!!!!!!

the_tooth_fairy

Hi Notamongoose and welcome. Firstly, you've done very well getting away from a fee paying company. We have c/c debt with MBNA and Tesco and although it took 2 - 3 months they have both stopped interest altogether, so things will improve. Of 10 creditors, only each of our RBS are still charging reduced rates of interest. Sorry I can't answer the Incasso question, hopefully someone will be along to help you with that.

ttf