DMP Mutual Support Thread - Part 7

newbeginning_2

CommitedToChange wrote: »

HI guys

Right I have received my pack from CCCS who have agreed to manage my debt management plan :j

They have a letter for me to send to my creditors - now I was going to do this and send a token payment - but this is not mentioned in the letters, should I add a line in about a token payment and include a £1 standing order or not?

Thanks for the help in advance :beer:

Edit: also how long does it normally take to set up - I can't send it until I get my new bank details, so I know it won't be Feb - would it be ready by March or does it take a couple of months?

I included token payments in with that letter, all got cashed fine as well.

Think you'll probably be starting first of March now.

Welcome on board

missindependant

CommitedToChange wrote: »

hi guys, I'm about to do my postal orders - should I have the names of the companies put on them.... I'm not sure what is should be as halifax say that if you send a cheque it should have the account name and number as the payee.

I'm confused! (it doesn't take much)

Anyone know the answer?! I am wanting to do the same thing but before I go to the Post Office wanted to know what info to out on them.

Any ideas would be great!

Thanks

grantalien

B17c wrote: »

Hi, thank you
I went in to NatWest to open a new current account but got halfway through and it was referred... i asked why that might be and he said if I have a bad credit rating or a bad relationship with my bank (First Direct) eg keep going over my O/D limit ( I do) then it can get referred then declined... ended up getting upset and crying all over the poor man so he suggested opening a savings account, i can have my wages paid into it, direct debits set up and have a visa debit card, but it wont improve my credit rating as its not a current account.
Although he did say in a few months i could try to "upgrade" to their current account as i'll be an existing customer.
Just not looking forward to getting arsey calls, letters etc
Thanks for replying

should have offered you a STEP account (Natwest basic account) - its the same as a current account other than the OD - you can setup SO and DD and make use of the VISA debit card - I dont think they like selling these as they make no money.

I also got my iphone insured and a fam/friends railcard for £6.95 pcm! through the account add on (blue in my case)

These days with visa debit about there is little difference between the STEP type accounts and a current account except the OD.

Squirrel29

I'm so blummin' angry. I contacted my car insurance co, Sheilas Wheels to change bank details. They wanted to charge me £26 admin fee for doing so. I only have 5 more payments left. I opted to pay the rest of the balance (£89) by debit card. I'd already paid this amount 3 months ago when I downgraded my car.. to one thats 3 points less.

What a rip off. I'm now going to have to adjust my whole budget including food for rest if the month. The only good thing about it was saving £9 APR. I'll be looking elsewhere in June for renewal.

B17c

grantalien wrote: »

should have offered you a STEP account (Natwest basic account) - its the same as a current account other than the OD - you can setup SO and DD and make use of the VISA debit card - I dont think they like selling these as they make no money.

I also got my iphone insured and a fam/friends railcard for £6.95 pcm! through the account add on (blue in my case)

These days with visa debit about there is little difference between the STEP type accounts and a current account except the OD.

Ah right ok... yeh he was trying to sell me the gold one! Told him i was in no position for any extra's

Thats another thing actually, my mobile is up for upgrading in feb but was hoping to switch from vodafone to o2 as i'm paying a stupid amount of money (£52.82 approx) for an old brick, when i can get a free iphone 3g wotsit for £35.75 a month! but will i be able to get a contract if i'm doing a DMP?

Or am i better off seeing if vodafone can give me a better deal than what i'm on already as i'm an existing customer of theirs?

Sorry to deviate off subject!

B17c

Squirrel29 wrote: »

I'm so blummin' angry. I contacted my car insurance co, Sheilas Wheels to change bank details. They wanted to charge me £26 admin fee for doing so. I only have 5 more payments left. I opted to pay the rest of the balance (£89) by debit card. I'd already paid this amount 3 months ago when I downgraded my car.. to one thats 3 points less.

What a rip off. I'm now going to have to adjust my whole budget including food for rest if the month. The only good thing about it was saving £9 APR. I'll be looking elsewhere in June for renewal.

cheers and tears... cheers you paid off the balance, but tears leaves you short for the month... very annoying! yeh, i'd def look elsewhere, tho i dont drive so cant say much on the matter! x

maganan

Oh dear today seem to have lost my way, i've managed to stay fairly upbeat about all this so far after all its my fault etc etc, but today i had a letter from CCCS saying santander wont accept my reduced payment for one cc because of "contractual payment required". i checked thinking it was one who'd had a reduced payment this month (due to mergers alot of my debt is with them one way or another) but this was an interest free card and they'd had more than the minimum this month already. Now I'm so scared that none of my debt will be accepted and that this one will just get bigger cos they'll probably start applying interest. I spoke to a lovely lady at CCCS who said to inform them if this happens and also explained that they may just have accepted their quota for that day and that will still send what has been alotted from my payment! I know its my fault but it doesnt seem right that acceptance by the cc companies is such a lottery.

Now I'm really scared, what if they send baliffs around can they take my car if they do i cant work, if i sell it and get something cheaper it will cost more to run (mines v economical £30 tax and 600+ to a tank of diesel) should i put it in someone elses name or is this worse. I think i;ll be able to increase what i pay CCCS from next month now i've looked at where i can cut back but i dont think it'll make much difference to my creditors. i will also hopefully be able to make a small additional payment as when i get paid i should get a bit extra for working over the christmas bank hoildays. I know i'm rambling on a bit here but i dont have anyone else to tell and i cant burden the kids with this. To think yesterday i was feeling so positive cos i made a draft excluder out of an old pillow and turned the heating down half a degree!.............what a joke i am:(

Hales82

Hi all

I've spent hours today reading through this thread and it's been so helpful and informative. Me and my husband are poised to enter into a DMP. We can't bury our heads any longer and we need a solution. Feel very stupid and ashamed, along with a feeling scared about the unknown we're getting into

I do have a query I'm hoping someone can advise with. We are going to open new bank accounts tomorrow but we have missed the date with our employers to get our salaries paid into the new accounts. Plus I think I probably won't be able to change the DD's over either.

In the info from the CCCS site, if we have payments due before the DMP start date (which we will, Feb's payments) you're supposed to send a token payment. I did think about withdrawing our salaries and transferring them to our new account (leaving enough to cover our DD's in our old account) but I'm concerned that our bank (HSBC) will just take the money they're owed as soon as they get our token payment and realise we are in difficulty. If this was to happen our DD's will begin to bounce, meaning we will be in a right mess.

Can anyone advise on the best way to time it? Alternative would be to make Feb's payments, but that will just be robbing Peter to pay Paul. Or we could pay HSBC as normal (we have a credit card and overdraft) and just given token payments to our other creditors, but would we then be seen as giving preference to HSBC?

Gah, it's such a mess

maganan

Hales82 wrote: »

Hi all

I've spent hours today reading through this thread and it's been so helpful and informative. Me and my husband are poised to enter into a DMP. We can't bury our heads any longer and we need a solution. Feel very stupid and ashamed, along with a feeling scared about the unknown we're getting into

I do have a query I'm hoping someone can advise with. We are going to open new bank accounts tomorrow but we have missed the date with our employers to get our salaries paid into the new accounts. Plus I think I probably won't be able to change the DD's over either.

In the info from the CCCS site, if we have payments due before the DMP start date (which we will, Feb's payments) you're supposed to send a token payment. I did think about withdrawing our salaries and transferring them to our new account (leaving enough to cover our DD's in our old account) but I'm concerned that our bank (HSBC) will just take the money they're owed as soon as they get our token payment and realise we are in difficulty. If this was to happen our DD's will begin to bounce, meaning we will be in a right mess.

Can anyone advise on the best way to time it? Alternative would be to make Feb's payments, but that will just be robbing Peter to pay Paul. Or we could pay HSBC as normal (we have a credit card and overdraft) and just given token payments to our other creditors, but would we then be seen as giving preference to HSBC?

Gah, it's such a mess

I dont know, i'm sure someone who does will be here soon, but i dont think it makes much difference one of my crditors on a CCCS plan has refused even though they had more than the minimum this month and i've never defaulted. Now i've calmed down a bit i think its just scared at the start we just have to keep reminding ourselves they can't have what we havn't got and stop worrying about credit scores etc, good luck

scottygees

I have lingered around these boards for a while before thinking of posting. I started my DMP with CCCS back in October. Most creditors have cancelled/reduced interest payments. Unfortunately as of February I am having to reduce my payment as it has been a struggle so far and something had been missed from my expenditure list. Anyway CCCS haven't pushed me to pay anymore as all my expenditure is within their guidelines. Just worried of how these reduced payments will go down with my creditors?

On a positive note I have a £35 HP agreement that ends in August, so that can be used to increase the payment and also a £53 HP payment that is due to end mid 2012 which will be added to the payment plan as well.

Someone has mentioned earlier about full and final offers. My wife is trying to put money away each month so that F & F offers can be made one at a time. I have a credit card (£500 balance) and a store card (£650 balance) which I will have hopefully had F & F offers accepted before my last HP agreement has ended, which will mean that there will be significantly more funds available to other creditors.

Any way rambling on now.

Good Luck to everyone.