DMP Mutual Support Thread - Part 7

Raksha

Update - another of our higher interest rate creditors has accepted our offer and frozen interest - HSBC. If anyone is reading this and wondering if they should go down this route - do it, we would have saved ourselves so much stress if we'd done this many months ago instead of trying to battle on.

antk4

just received our first letter of acceptance from MBNA. They have reduced interest to 0% and are stopping all charges. However we also got letter from CCCS to say they had rejected our offer of payment. Do I need to tell CCCS they've changed their minds.

effect56

hi guys
Sorry for all the questions as you can imagine i am looking for as much advise before i jump into anything. I contacted debt advisory centre and they advise a trust deed. I am worried about my home, as I am with the part of Northern rock who do not offer remorgage. The man says your home is more at risk with dmp as companies could put a hold on you home. Is the debt advisory centre a money making company unlike cccs. They also said you can pay £500 on a trust deed and no question asked about the equity in you home not that I have any anyway. Sorry for going off on one. However my heart was set on dmp and now I am not sure what to do for the best.

suze72

effect56 wrote: »

hi guys
Sorry for all the questions as you can imagine i am looking for as much advise before i jump into anything. I contacted debt advisory centre and they advise a trust deed. I am worried about my home, as I am with the part of Northern rock who do not offer remorgage. The man says your home is more at risk with dmp as companies could put a hold on you home. Is the debt advisory centre a money making company unlike cccs. They also said you can pay £500 on a trust deed and no question asked about the equity in you home not that I have any anyway. Sorry for going off on one. However my heart was set on dmp and now I am not sure what to do for the best.

You are correct in thinking that debt advisory centre are a fee charging company.
You need to speak to either CCCS or Payplan who will give you impartial advice.

Squirrel29

Very occasionally creditors get a charge on your home as security during the DMP but it's as rare as hens teeth for them to force a sale.

Hopelessly_Hopeful

effect56 wrote: »

hi guys
Sorry for all the questions as you can imagine i am looking for as much advise before i jump into anything. I contacted debt advisory centre and they advise a trust deed. I am worried about my home, as I am with the part of Northern rock who do not offer remorgage. The man says your home is more at risk with dmp as companies could put a hold on you home. Is the debt advisory centre a money making company unlike cccs. They also said you can pay £500 on a trust deed and no question asked about the equity in you home not that I have any anyway. Sorry for going off on one. However my heart was set on dmp and now I am not sure what to do for the best.

Barstewards. Scare tactics. Calls CCCS, DEbtline and Payplan, they will give you impartial advice. Disgraceful those sharks will take advantage of your vulnerability.

Let us know if we can help

Good luck

HHx

the_tooth_fairy

Twit_Head wrote: »

Hiya TF!
Well, I think that's the Gold Star of the week to you then!
Just goes to show that even with the added charges and the head-banging in frustration you can still be working towards the debt paid off. Know at times it's been a rough ride for you, but just watch that counter drop now gal!
And why is when I was adding to the C/C bill it just seemed a nothing; all a bit unreal? But you're so right - when paying it back every £ knocked off that total now is a triumph.

'Twitty'

Hello Missus!!
Thank you for that, I was really trying to cheer up the Newbies, it all seems to have gone past so quickly, you forget how mad you get with the past obstacles in your way sometimes.
Yes, when you're spending on them it's as if you're in the Twilight Zone where nothing is real... (my memory of is that I certainly was a lot unhappier than I am today), mind I thought February was going to be a short month and was wrong about that as well!!
I def. want to read those cookbooks, although when I first read it I thought it said, "101 ways with mice", so things aren't too bad yet!

ttf x

the_tooth_fairy

dlb wrote: »

6 years ago when i started out on my journey this is the way i handed the phone calls.

Phone rings........ Hello......let the creditor say their piece......i then said the following each and every time they rang talking over the top of them if need be...

Thanks for ringing, it isnt me but my debt managment company you need to speak too...their phone number is and my referance number is...i am now going to hang up good bye!

They kept ringing back and i did the same thing over and over.....they all got fed up within a few weeks....and started contating payplan instead.

I had it wrote on a piece of paper at side of phone, and after the first time you do it you dont feel bad, you are stating the facts..if they choose to listen or not is upto them.

Thanks again for that advice for our new people, I wouldn't have got through the first 2 weeks without my trusty bit of paper, with my Mantra printed on. It gives you a wee bit of confidence in the early days.

ttf

secretshopper75

Just opened my latest statement from the ****fax and they seem to have stopped charging me interest...I only sent a letter this morning to ask them to consider doing this so I'm amazed at their speed....

the_tooth_fairy

Hopelessly_Hopeful wrote: »

Great news TF - Roll on April.

I get a huge buzz from celebrating landmarks like a key digit dropping into the next thousand etc.

The future is bright:T

HHx

Cheers, HH!
There was me thinking I was the only one who watched the Justabank totals obsessively. I love it when a big figure drops too!

ttf