DMP Mutual Support Thread - Part 7

suze72

Miguel1979 wrote: »

Hi All,

Firsty thank you to all of those that have responded to my original post. I think I am going to sort out a new back account (hopefully I get accepted) first and then start the DMP journey.

I was planning on using CCCS to organise this for me. Does anyone have any feedback good or bad on this company.

Who seems to be the best/most successful company to go through, are there any others you would recommend above CCCS.

Again thanks for your help at this daunting time.

I have also been with CCCS for getting on for a couple of years now and they have always been very helpful.

People also say good things about Payplan, I think there may be a slight difference between them and CCCS in how they distribute your payments to your creditors but thats about it.

bluelewis

Hi all just a quick update just made first payment to payplan all creditors have been paid there little slice all have accepted payplans proposal still waiting on next store card but not a problem as is only £150 anyway but 7out of 8 is pretty good so far.only problem is the lloyds tsb i have 2 overdraughts with them and 1 credit card they have accepted proposal but i have also recieved letter asking for money owed in arrears in 2 days time but then in another letter they stae they they have agreed to payplans proposal until july 2011.
its been a 3 months of stress of phone calls and demanding letters of which i havent replied or answered.I set up 2 safe accounts 1 with nationwide and 1 with barclays i use barclays as my wages in and bills out and any surplus at all goes into nationwide towards emergency spending e.g. washing machine breakdowns.
If it wasnt for people on this site theres no way i could have done this.
by the way tesco credit card were really understanding and were first to agree to terms ages ago.

HC1971

Just thought Id provide an update. I received a letter from HSBC today and they are offering me a loan to pay off my overdraft and credit card with them. This would be over 82 months at a 7% APR and the monthly repayment equals that which they have been offered by Payplan.

Has anyone else had the same? Do you think this is good idea?. They claim this will start repairing my record with the credit reference agencies. Ive emailed Payplan for advice but they haven't got back to me yet.

SarahNeedle1872

Put a letter in the post to Metropolitan today (First Direct) asking them to detail what the elements are of the debt. I think they have bundled my OD and CC in together (I can see the loan as a seperate listing on the CCCS statement) but then FD are also listed on the CCCS statement, with a debt that is the value of the CC..... so I think I am paying twice for the CC debt.

Does that make sense!?! Anyway, I will wait to see what they say, then give CCCS a call, as I may be able to spread that FD payment around to everyone....

Sx

secretshopper75

Good Morning

Just a quick hello before I go and finish cleaning..plan to write some letters today to creditors who are still charging interest to ask them to stop, got some of hosuework done already and off to make DH's breakfast.

mozzyc

HC1971 wrote: »

Just thought Id provide an update. I received a letter from HSBC today and they are offering me a loan to pay off my overdraft and credit card with them. This would be over 82 months at a 7% APR and the monthly repayment equals that which they have been offered by Payplan.

Has anyone else had the same? Do you think this is good idea?. They claim this will start repairing my record with the credit reference agencies. Ive emailed Payplan for advice but they haven't got back to me yet.

mmmm, not something I would do to be honest. And also, when we signed with Payplan, we agreed not to take any more credit for the length of the plan. But you've got to do what you thinks best for your situation, but me, I wouldn't want another loan.

SHELLSHOCK

Bit of a brighter day for me!

Yesterday I woke feeling tired, achey, stressed and downright miserable! I've been unable to concentrate at work and keep making really basic mistakes (don't worry I'm not a nurse or a surgeon or anything!!).

Then the CCCS rang to clarify a few points and informed me that the plan will be set up within the next couple of days ready to start on 1st March. I felt a little weight lifted from my shoulders

Still getting all the phone calls and letters, one from Barclays even stated at the end "help us to help you - let us know if you are experiencing difficulties"???? No mention of my previous letter informing them of our impending DMP!!?? They then just went on to demand money!

I just want to get started afresh. I am looking forward to the 23rd when my salary will be paid into our new account and we can start on the new budget/way of handling money. I've worked out how much we have left each month and we are going to withdraw a weekly amount every Friday so that we don't use our debit cards through the week (I always loose track if i'm using it for the odd few pounds here and there!). Has anyone else done this?

Hoping the day doesn't bring any nasty letters in the post!

dlb

Hiya everyone...dont know if anyone remembers me..its been a while since i was last on.
Just had a quick look through the thread and wanted to add a few things.
Iv been on a dmp now for over 5 yrs and the end is almost in site, started with a fee paying dmp BIG MISTAKE...then transfered to Payplan. If i had gone with them at first i would now be debt free...but we live and learn.
Iv never had any problems with any creditor since going on a dmp...if you do what you dmp company tells you, keep refering the creditors to them...they will evetually play ball...My situation has changed many times over the dmp and i have up and lowered payments to fit in with these changes, my latest change has come this month after my husband has had his working week cut down to 3 days for 5 due to a knee injury and needing a knee replacment but he is to young to get one!! ( thats another story lol)
I have informed payplan they have informed creditors and all have accepted lower payments.

I had my annual review (which are not scary in the least..i alwasy feel so much better after one) last week, and payplan told me what will happen in the next 6-8 month because i am coming to the end of my plan. They will contact me and the creditors to get upto date ballances because not everything shown at paypal is spot on due to interest ect that wasnt stopped straight away at begining of plan. Payplan told me they dont keep asking for upto date ballance as there is no need until near the end of the plan, they will then begin on my behalf trying to get the remaining debts written off or reduced.

I completly truest my dmp and its the best thing i ever did, especially when i look at the situation im now in with lose of money through hubbys work/injury, and am so glad i faced up and delt with the debt when i did.
So fingers crossed by Xmas this year i maybe debt free and if it takes a few extra months on top im not worried...when i signed up and was in it for the long term not a quick fix to get me through a few bad month, iv done 5 yrs 1 months and intend to cross that finish line head held high, Yep i have defaults on my credit file but alot went on at the beginning on the dmp so by the time i have finished my dmp they will be ready for being removed (6 yrs) so sometime defaults are better sooner rather than later.
Good luck to everyone.....starting a dmp shouldnt be a worry you should be proud of facing your debts head on....i know i am .
Donna xxxxxxxxxxxxx

Raksha

I just wanted to say, if you are struggling to pay your debts, and not having a 'life' or money to put by for a rainy day - seriously think about a DMP. We had £34K of debt, which will take us around 6 years to pay off, BUT, if we'd gone onto a DMP earlier, we wouldn't have run up the interest on many of the debts, we wouldn't have nearly come to a 'divorce' (difficult when you're not married) and wouldn't have had to go without things like dentist treatment or the kids their pocket money.

Life is for living! (But not on Credit)

SHELLSHOCK

Thanks dlb - your post gives me hope x