DMP Mutual Support Thread - Part 7

sugar9

Hi HH, thanks for your kind words. I'm kind of hoping Helifax (loving the name) will pass us to DCA as the amount of interest they are adding on our O/D is a joke and will take us years to pay off at this rate. But perhaps its early days still as we have only paid 3 payments on our DMP so far. Best wishes for 2011. And also hello to Cuppa

poppytj

Hi hope this is ok to post this question in this thread

I'm thinking of setting up a dmp and wanted to know what people really thought of them. have they helped you, are they a good idea if you're struggling with your debts. Are they specific questions I should ask and what sort of answers should I be hoping to get from them.

Any advice appreciated, thank you

ianmak

stephatj wrote: »

Hi hope this is ok to post this question in this thread

I'm thinking of setting up a dmp and wanted to know what people really thought of them. have they helped you, are they a good idea if you're struggling with your debts. Are they specific questions I should ask and what sort of answers should I be hoping to get from them.

Any advice appreciated, thank you

Have a look back through this thread, I think 95% of people on here think it's the best thing they've ever done!

Personally there was no other way out. 38k of debt and I had £150 surplus to put towards it. If I'd carried on with minimum payments there would have been NO end in sight.

Just have a think of the alternatives though, as a DMP isn't for everyone. Oh, and go with:

PayPlan https://www.payplan.com or
CCCS https://www.cccs.co.uk

Find further info here: http://www.nationaldebtline.co.uk/ and here: http://www.moneysavingexpert.com/cards/?tab=3&dd

Oh, and welcome!

ianmak

Well my NY resolution, amongst other things is to begin budgeting in earnest! So I've drawn my money out for the week, and it's sitting by my cashcard, in a safe place! Wish me luck...

Hopelessly_Hopeful

Welcome Steph. As Ian said reading back threads are really really useful. I spent days starting at the one before this one following peoples journey, was very enlighteneing and I felt quite empowered afterwards.

Good luck Ian - sounds like a plan.

I bought some Christmas and Birthday presents in the sale with my Christmas money in an attempt to get ahead of myself to save money over the year as they were things I would have spent on anyway. January is definately a month for clearing stock cupboards and the freezer.

Have a good day all

HHx

Twit_Head

ianmak wrote: »

Well my NY resolution, amongst other things is to begin budgeting in earnest! So I've drawn my money out for the week, and it's sitting by my cashcard, in a safe place! Wish me luck...

I'm wishin' for you! I admire your resolve and hope doing it the 'cash for the week' way keeps you to the straight and narrow. (And any gremlins hoping to upskittle you keep far away)
Once I've deducted all the D/Ds from my wages on being paid, I still find the debit card for the remainder works best for me (you can't take the plastic away from the girl! ) for the fuel/ food part of the budget.
If it's cash in the purse it's accounted for and therefore 'free' money to spend....
Good luck, but always keep in mind 'value' baked beans are 0% VAT rated if you have times with more month than money

'Twitty'

jasperconran

hi guys

quick question, our dmp officially started on the 1st January and our payment has gone out to CCCS. However, on new years eve we received a letter and halifax have passed my OH's account onto blair westcott and oliver is it? saying we will send people round your house, or apply for a ccj or take you to court blah blah blah. I am assuming this is a pretty standard letter??? Anyway I will pass this onto CCCS tommorow to make them aware, shall I also write to these people? I wouldnt mind but I believe that halifax were going to get the biggest payment anyway!!!!!! bloody creditors. On a brighter note Next have accepted already and I got confirmation in the post today:j

If anyone could give me some advice on this DCA I would appreciate it. thanks

mozzyc

Hello all!

Happy New Year to everyone. Haven't posted for a while, but thought i'd pop in and see how everyone is doing. Well, on paper, my dmp with Payplan is due to end in February, but i know it won't. They're due to get up to date balances of all the creditors, and i know from statements, that they differ big time to what is listed on my justabank (payplans balances), due to added charges, interest etc.......
Lloyds for one thing will still last me another 2.5 years, but as the smaller debts finish, they money will go towards the bigger ones, so that'll help. One did finish in November, so that was really a big achievement for us after 5 years of slugging it out. Yay! Still a long way to go, but hey, nobody said this was going to be easy..... Well, here's to another year of clearing the debts, and bringing down that overall balance!! And one day, it may not be soon, but one day of being DEBT FREE!!!

joanne2008

my 1st payment to CCCS is due to come out by dd on the 10th Jan :T i have recieved 2 letters one from Natwest and One from MBNA to say the payment offered by CCCS are too low and my account will go into default and possibly passing on to a debt agency.
Is there anything else i can be doing im dreading the post arriving and dreading every phonecall. I know im just starting out but i am sooooo worried for what the future holds for me and my baby.

Twit_Head

mozzyc wrote: »

Hello all!

Happy New Year to everyone. Haven't posted for a while, but thought i'd pop in and see how everyone is doing. Well, on paper, my dmp with Payplan is due to end in February, but i know it won't. They're due to get up to date balances of all the creditors, and i know from statements, that they differ big time to what is listed on my justabank (payplans balances), due to added charges, interest etc.......
Lloyds for one thing will still last me another 2.5 years, but as the smaller debts finish, they money will go towards the bigger ones, so that'll help. One did finish in November, so that was really a big achievement for us after 5 years of slugging it out. Yay! Still a long way to go, but hey, nobody said this was going to be easy..... Well, here's to another year of clearing the debts, and bringing down that overall balance!! And one day, it may not be soon, but one day of being DEBT FREE!!!

Hey,hey - keep cheerful chuck!
You've done brilliantly well. and although the goals post might move a bit further back, at least you can see them
It always warms the cockles of my heart to learn that a DMP has worked for one of us, and that the wonderful DFD is at least in your sights.
May this be your year and Lloyds will become your bestest best friend and abolish the remaining debt (you can always dream )

'Twitty'