DMP Mutual Support Thread - Part 7

~evanesco~

Hey everyone, I've posted my SOA on the main DFW board if anyone wants to have a poke around in it. Thanks.

dlb

Hiya everyone!
One of the original dmp member here...not been around for ages so thought id pop by and say hello!!

Well iv now been on dmp for almost 4 and half years now and have never looked back. Original debt was 24k !!!!!! Debt now stands at.......just under 7 k!!!!!! And only approx 15 months to go!!!

I cant stress enough how much a dmp has change my life, its given me back control but agree with one earlier poster about you do sometimes after being on the dmp for a while let things slip and start to over spend a little again, but you just go back to basics and things fall back into place again, my big thing was my shopping over the years of being on the dmp i let my food shopping bill go up higher than was needed but have gone back to meal planning and its dropped right back down again, leaving more money for the....Savings!! Cant belive i have a small amount of savings 5 years ago the word wasnt know in this house!!

Also for the people on here i dont know and wont remember my story, i started off with a fee paying company...DONT DO THIS PLEASE USE ONE OF THE FREE NONE FEE CHARGING COMPANYS. If i had done that from the start i would be 2k nearer to being debt free now, but i live and learn (not that i ever intend to need a dmp again after this one finishes!!!)

Keep going and good luck on your debt free journey everyone
Donna
xxxxx

the_tooth_fairy

LauraLou1985 wrote: »

Hi all!

I'm starting to feel like a bit of a pest, you lot on here have become my encyclopedia on all thing's DMP related!

I was just wondering how my DMP will afffect my mobile phone contract? I'm due to renew next month and as the contract is only £25 a month I want to stay on this. I would switch to pay as you go but this £25 includes unlimited calls, web and texts which as I don't have a landlne seems the best option. I'm planning on staying with the same provider which I've been with for 7 years and I have had no problems with them so my question is whether I'll be turned down for a renewal?

Thanks!

Hi LL, We have some experience of this with OH's phone contract and our car insurance. The phone is Direct Debit which they automatically extended and the car insurance was on a "rolling" credit thingy which doesn't go out of date. Also, as the car insurance was on our DMP we weren't really taking on new debt, in fact it was slightly reduced because the car was a year older!

ttf

Moolie

Hi all

We are considering sending CCA requests out to all our creditors (all accounts pre 2007) so that they will default us. I have already sent a request to Barclaycard to try to get them to stop adding interest, as they have been doing this since January (we have been on our DMP since May 2009).

We just wondered if we send a CCA request to a creditor who has stopped charging interest, might this cause said creditor to start adding interest again just to retaliate? Has anyone had any experience with this? What about sending CCA requests to those creditors that have already defaulted us - is this any different?

Also, because of this Barclaycard CCA thing (which it looks as though they don't have ) it appears as though we may have to come out of our CCCS DMP and go it alone. Is this correct (and has anyone got any advice please)?

Thanks so much for reading x

Twit_Head

dlb wrote: »

Hiya everyone!
One of the original dmp member here...not been around for ages so thought id pop by and say hello!!

Well iv now been on dmp for almost 4 and half years now and have never looked back. Original debt was 24k !!!!!! Debt now stands at.......just under 7 k!!!!!! And only approx 15 months to go!!!

I cant stress enough how much a dmp has change my life, its given me back control but agree with one earlier poster about you do sometimes after being on the dmp for a while let things slip and start to over spend a little again, but you just go back to basics and things fall back into place again, my big thing was my shopping over the years of being on the dmp i let my food shopping bill go up higher than was needed but have gone back to meal planning and its dropped right back down again, leaving more money for the....Savings!! Cant belive i have a small amount of savings 5 years ago the word wasnt know in this house!!

Also for the people on here i dont know and wont remember my story, i started off with a fee paying company...DONT DO THIS PLEASE USE ONE OF THE FREE NONE FEE CHARGING COMPANYS. If i had done that from the start i would be 2k nearer to being debt free now, but i live and learn (not that i ever intend to need a dmp again after this one finishes!!!)

Keep going and good luck on your debt free journey everyone
Donna
xxxxx

Really appreciated your update. :T It's great to know how it's been when you've lived on a DMP for a good while.
And 'savings' is such a wonderful word!!! If you haven't got the dosh (credit card 'virtual money' ) I found it was too easy to spend but how much more valuable is every single penny that you've managed to hoard away now?
Only 15 months to go for you- a bit early maybe to get the champagne on ice (but start looking out for a bargain deal on champers in advance in true money saving style:))

'Twitty'

ianmak

LauraLou1985 wrote: »

Hi all!

I'm starting to feel like a bit of a pest, you lot on here have become my encyclopedia on all thing's DMP related!

I was just wondering how my DMP will afffect my mobile phone contract? I'm due to renew next month and as the contract is only £25 a month I want to stay on this. I would switch to pay as you go but this £25 includes unlimited calls, web and texts which as I don't have a landlne seems the best option. I'm planning on staying with the same provider which I've been with for 7 years and I have had no problems with them so my question is whether I'll be turned down for a renewal?

Thanks!

I've changed providers whilst on a DMP, never been an issue. Unless you've missed payments to your mobile account that is!

mikon

Hi Everyone

Started DMP and first payment sent this month received statement from ARGOS who have agreed to offer and reduced interest from 27.7% to 9.9% which at the time I thought well at least they have accepted and reduced the interest. However when I received the statement today it showing my offer £8.00 and then the interest for the month is £6.10 therefore only £1.90 is coming off the total debt.

QUESTION

1. Should I contact CCCS and ask them to write to ARGOS and ask them to stop the interest or
2. Should I contact them myself and make the request or
3. Should I just let it go and be grateful that they have accepted the offer.

Any help is much appreciated.

Regards

Mikon

Twit_Head

mikon wrote: »

Hi Everyone

Started DMP and first payment sent this month received statement from ARGOS who have agreed to offer and reduced interest from 27.7% to 9.9% which at the time I thought well at least they have accepted and reduced the interest. However when I received the statement today it showing my offer £8.00 and then the interest for the month is £6.10 therefore only £1.90 is coming off the total debt.

QUESTION

1. Should I contact CCCS and ask them to write to ARGOS and ask them to stop the interest or
2. Should I contact them myself and make the request or
3. Should I just let it go and be grateful that they have accepted the offer.

Any help is much appreciated.

Regards

Mikon

CCCS are brilliant but they deal with thousands of cases (and apologies for referring to us as a case!) so I always try to be a bit pro-active for myself.
If you feel strong enough you could ring them but be prepared to resist possibly more demands for money etc . My personal comfort zone is to write a letter explaining your financial circumstances have changed. You are being responsible, recognising the debt is yours but you are trying your hardest and commiting to repay. Being a boot-licker I would also acknowledge the reduced interest rate but state even with this lesser rate this will not help the repayment of the debt in your changed circumstances. Perhaps in due course they might pass it do a DCA who will just be interested in getting some money back.
Just my thoughts - others might disagree or have greater experience. It always takes a while though for a DMP to 'settle.'
And if push comes to shove 27.7% to 9.9% is a huge improvement, but keep plugging at them!
And :beer: your first payment has gone! Debt free future here we come (sooner or later!)

'Twitty'

mikon

Twit Head

Thanks for the response. I might let things settle down for a couple of months and see how things go. Then if the debt is not reducing much then I might write. I think i will put it to bed for now. I agree 9.9% is better than 27.9% at least the debt is decreasing and not increasing.

Regards

scouselad1974

Hi

I was in the same boat with Argos, as soon as I received my first statement I noticed interest had been added to my account, I wrote a letter and interest was set to 0% and has been for the past 12 months, it's well worth a try.