We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
DMP Mutual Support Thread - Part 7
Options
Comments
-
Hi
I'm just considering whether to go down the DMP route and was hoping one of you might be able to answer a couple of questions I have?
Basically, I am in a situation where although I am in a lot of debt (£24,000) I have always made sure that I didn't default on any payments. Most of my debt is on a loan, but there are 2 credit cards that I'm paying minimum payments on (which drives me up the wall!) Anyway, I've recently separated and can see the time coming very quickly where I'm not going to be able to make my payments as my income is pretty shaky at the moment.
I just wanted to ask, firstly, if I take out a DMP will it put a black mark on my credit file? I know that with a low income and high outgoings my credit rating is going ot be pretty rubbish anyway, but I'd hate to put a further black mark on it when I've always been careful not to default on debt repayments in the past.
Also, as I am self employed would I even be able to get a DMP?
If anyone has any answers, they'd be very gratefully received!!
KBC
Hello and welcome here
I too was like yourself and never defaulted on my any repayments before my DMP commenced.
Difficult to say if you will get defaults on your credit rating. Some do, some don't but probably yes, you will. Of my 3 creditors I have received a default from one. I know this is a horrible thought if you've never had problems before and have a pristine credit rating. However, I have to say it doesn't bother me much at all now. I have changed car, house insurance etc for better deals with no problems. The default is there for six years from when it's added.
I believe many on here are self-employed and probably able to advise you more than I can but yes, you can go on a DMP when self-employed.
It's hard having to cope on your own. There is no shame in admitting you can't manage financially when times are tough. Much better the DMP route than trying to soldier on and getting further into the debt spiral. :eek:
Good Luck to you whatever you decide to do.
'Twitty'0 -
sanctuary_seeker wrote: »Evening all.. I have a question if any one can help. I'm just in the process of setting up my DMP, I've contacted Payplan , written to all my creditors (6) and told them I was organising a DMP and paid them all a token payment at the bginning of June. However two of them have sent me income and expenditure stsatemnet to fill in and return to them . Can I just ignore these as I'm guessing they'll have a preference for their company getting a higher payment each month? Surely they should wait until my complete is set up and either I or PayPlan contact them with an offer of payment plan? They all seem to fight aginast each other as well as send nasty letters, phone call etc. Why isn't there a law against their harrassment, many of us are just trying to the best we can :-(
Thanks
SS
Sanctuary Seeker
I would not ignore them. I had a couple of these and what i did was I phoned the creditors and informed them that I was embarking on a DMP with CCCS and if you have a refrence number provide them with that. I also followed this up by writing to the company saying that I was starting a DMP with CCCS and a full income and expenditure statement would be send in time detailing my current financial position. Remember to electronically sign all correspondence DO NOT SIGN WITH YOUR SIGNATURE.
It worked for me and the companies accepted my offer.
RegardsMikon Riding the DMP Rollercoaster full of ups and downs but i will get to the end. :T:j
LBM April 2010. DMP Start June 2010 - 11% of debt paid at June 11 to 11 creditors
DFD In the Far Far Distant Future.DMP Mutual Support Thread No: 410 / DMP Without a Paddle No: 300 -
Hello and hope everyone is having a good DMP day
I just have a couple of questions if you don't mind me asking...
I am self-managing a DMP and started about a month ago, sending letters and cheques for the first month payment. So far, 6/9 have accepted (some for a 'limited time').
However, a couple seem to be dragging their feet...
1) Capital One credit card.
I sent them the original letter, stating that due to ill health, I had to reduce working hours, therefore reducing my income. With this, I sent a pro-rata payment table. They then wrote back and said that I should phone them as 'speaking to our customers directly helps us to answer any queries and explore possible debt solutions quickly'.
What a joke - I phoned them on Saturday (using the number they wanted me to phone) which turned out to be usual customer services. After to-ing and fro-ing, they asked me to phone back today on a different number. I did as asked and this too was a customer services number! However, they advised me that I was being sent a 'self-help pack' and when I return it, I'm to include a photocopy of my bank statement and wage slip! Has anyone else had to do this with them? I'm just uncomfortable sending them my bank statement & wage slip....
2) Tesco clubcard credit card
To start, I have a loan with Tesco, and they have accepted my offer already (the loan balance is higher than the CC balance).
I sent these a financial statement (I & E) along with my pro-rata payment table and a copy of my sick note, stating my illness (it is a chronic condition, which does not get better).
However, I have now received a letter saying that
'before your offer of payment is considered, a default notice will be issued, formally cancelling the facility. The debt recovery office will contact you shortly with regard to the payment proposals'.
Again, has anyone received a letter like this from Tesco CC?
It just seems like they are faffing about for no apparant reason and, like everyone, I'm sure, I just want to get it all settled and then I can concentrate on reducing the debt.
Ah well, any advice on either of these predators would be greatly received.
Thank you in advance :jLBM - 16th May 2010
[STRIKE] Feb 2011 debts = £40,443 [/STRIKE] SEPT 2011 debts = £38,629
[STRIKE] Feb 2011 mortgage = £94,505 [/STRIKE] SEPT 2011 mortgage = £93,144
DMP in place & slowly paying off those debts:T0 -
scouselad1974 wrote: »Hi Everyone
I hope you are all well today, considering the football results yesterday :mad:
Anyway a quick update on my missing payments to Clarity, basically CCCS have told me this morning that my payments have been sent to Clarity for the past 3 months, they checked the account numbers this morning and everything was fine. CCCS also confirmed that the cheques sent to Clarity have already been cashed, so armed with the cheque numbers and dates of cashing I gave Clarity a call.
They still can't find my payments and are now looking into it, I have to give them a call in a couple of days to find out whats happened :mad:
O dear Scouselad - all these problems and a short-sighted football team who all have two left feet and no sense of direction!
A travesty to those of us old enough to remember 1966 :T (and before Ian starts I was only a child!) How I wish I could get paid just one week of their wages
Hope they find your 'missing payments' soon and you get sorted.
'Twitty'0 -
Hi Cat-astrophe,
I can't help with the Captial One question but regarding Tesco they did exactly the same thing when I started with Payplan - they were almost apologetic with the default, almost "Sorry we have to do this but it's part of the process", before accepting straightaway, and Mint, who are part of the same group, sent exactly the same letter too. They've been fine since. Hope this helps!DMP Mutual Support Thread No 336 - proud to be a number!LBM - June 20th 2009Total of Horror :eek: - [STRIKE]£39,909[/STRIKE] August 2010 £35,421 :jDFD - Feb 2018 (approx). I'll be 47 :eek: :eek: !!0 -
O dear Scouselad - all these problems and a short-sighted football team who all have two left feet and no sense of direction!
A travesty to those of us old enough to remember 1966 :T (and before Ian starts I was only a child!) How I wish I could get paid just one week of their wages
Hope they find your 'missing payments' soon and you get sorted.
'Twitty'
*Imagines a group of DMPers sitting, cross-legged on the floor surrounding Twitty seated on her rocking chair*
So what was it like at the '66 World Cup Twitty? Please tell us!!
Just kidding, love ya really.DMP mutual support thread No: 2430 -
Hope everyone is well and not too hot!
Am now in my tenth month with Payplan, next month will mean I've paid over £4000, very satisfying! Regarding Metropolitan niggles they are *still* niggling, but I had advice on here that their threatening letters are automated, and phoning clears it up. Really don't want to phone (sad, I know) and Payplan don't seem to be much help so have written a firm letter saying I've been paying them already via Payplan, so will see what happens. Also HSBC overdraft have just started grumbling and sending letters (they have been asleep so far - "pending") and I've used the same tack.
I'm about to send off a F & F offer to Red Castle, who have taken over my Post Office account. I'm starting with around 25% and will see how that goes. Am now going over and over everything and having last minute niggles, ugh! I've read about third party cheques but don't really have anyone to ask, so will use a banker's draft for payment if it gets that far. Depending on how that goes I'll then try it with Cabot, who bought my Egg account. Was very nervous about even just writing to both creditors for balances (esp Red Castle, who still haven't officially accepted and made threats some months ago then went quiet), but both replied quickly and were quite helpful.
Wishing all the newcomers best of luck, it does get easier (gradually!) and like Twit Head said, it does become a new way of life.
YPxDMP Mutual Support Thread No 336 - proud to be a number!LBM - June 20th 2009Total of Horror :eek: - [STRIKE]£39,909[/STRIKE] August 2010 £35,421 :jDFD - Feb 2018 (approx). I'll be 47 :eek: :eek: !!0 -
Sanctuary Seeker
I would not ignore them. I had a couple of these and what i did was I phoned the creditors and informed them that I was embarking on a DMP with CCCS and if you have a refrence number provide them with that. I also followed this up by writing to the company saying that I was starting a DMP with CCCS and a full income and expenditure statement would be send in time detailing my current financial position. Remember to electronically sign all correspondence DO NOT SIGN WITH YOUR SIGNATURE.
It worked for me and the companies accepted my offer.
Regards
Hi thanks for this, i'll give them a call tomorrow. One shouldn't I sign the letters ? Slightly confused..
Thanks
SS0 -
sanctuary_seeker wrote: »Hi thanks for this, i'll give them a call tomorrow. One shouldn't I sign the letters ? Slightly confused..
Thanks
SS
Because some corners would say that some creditors would take a scan of the signature, and insert it into an unsigned credit agreement, to make it look like you did.
It's a fun world.DMP mutual support thread No: 2430 -
*Imagines a group of DMPers sitting, cross-legged on the floor surrounding Twitty seated on her rocking chair*
So what was it like at the '66 World Cup Twitty? Please tell us!!
Just kidding, love ya really.
Ooh Ian I didn't know you cared :blushing: (with apologies to your lady)
You really do deserve a good clip round the ear laddie:D In 1966 men were men, shorts were very short and I was but a wee, innocent young girl! And all joking aside the sense of national pride when Bobby Moore lifted that cup in victory was terrific.
I still find the massive wage levels of top footballers today slightly obscene. I know they are atheletes with a short working life and yes, they entertain thousands but can a weekly income that would probably feed a small African nation really be justified? (And how would they cope with a 'fiver in the wallet till pay-day' syndrome must of us live with day to day?)
Oops sorry. Rambled on a bit but you'll miss me when I've gone( eventually!)
'Twitty'0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.8K Banking & Borrowing
- 253K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.8K Work, Benefits & Business
- 598.6K Mortgages, Homes & Bills
- 176.8K Life & Family
- 257K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards