DMP Mutual Support Thread - Part 7

jules1973

Hi, I have posted a few times on DFW, but I am new to DMP. I am doing a self managed DMP for the £34000 I owe to 12 creditors. Have offered them £25 per month each.
My creditors are Nrock, Shop Direct, Lloyds, Paypal, Sainsburys, Cooperative, AA Loans, Nationwide, Halifax, Next, Post Off.

Anyone had probles with any of these. I sent letters off on Tuesday so should hear soon hopefully. I am hoping they do wreck my credit record to be honest so I can't run up debt again. (Don't think I would but you never know)

smcshane

fairsats wrote: »

Hi Ant,
Dont wish to rain on your parade...Halifax CC have reinstated reduced interest charges for December/January..@ 1%..after no charges until now..4 payments by CCCS.
Asked them why...reply CCCS are paying more than the contractual payment and therefore debt is affordable.
I asked them if I should pay less then..reply we do not reccommend that...
Anyone else had this kind of experience with Halifax?

This happened to me about a year into my Dmp, due to the way cccs calculate payments I am well about my minimum so full interest reinstated.
I write to them everytime I am on holiday from work just saying I am still in financial difficulties and continue getting letters back saying we acknowledge your financial situation but you are not in difficulties with us! I will keep writing until the bitter end but don't think minds will change. It is annoying though especially when they should be sympathetic having been rescued from the pop themselves!

Sx

Superbiatch

jules1973 wrote: »

Hi, I have posted a few times on DFW, but I am new to DMP. I am doing a self managed DMP for the £34000 I owe to 12 creditors. Have offered them £25 per month each.
My creditors are Nrock, Shop Direct, Lloyds, Paypal, Sainsburys, Cooperative, AA Loans, Nationwide, Halifax, Next, Post Off.

Anyone had probles with any of these. I sent letters off on Tuesday so should hear soon hopefully. I am hoping they do wreck my credit record to be honest so I can't run up debt again. (Don't think I would but you never know)

Did you work out the payments pro-rata? If not you probably should do so those you owe the most to receive the most off their debt. All the information is in the national debtline downloadable pack on how to do it.

Expect them to contact you by phone/letter and scrutinise your budget too, so make sure you draw up a statement of affairs (also in the pack mentioned above or a link is contained in the debt free wannabe forum).

And above all make sure you pay them something in the meantime, even if only a £1 token payment each month whilst you get yourself set up.

It might be helpful if you could post your statement of affairs to see exactly how much you currently pay to utilities, car running costs, entertainment, groceries etc to see if others can advise you on how to save a few £. This will show exactly how much you have left per month for paying unsecured debts - but do post it in a new thread so it doesn't get missed.

Hope that helps a bit, I'm a few months further down the line than you

jules1973

Superbiatch wrote: »

Did you work out the payments pro-rata? If not you probably should do so those you owe the most to receive the most off their debt. All the information is in the national debtline downloadable pack on how to do it.

Expect them to contact you by phone/letter and scrutinise your budget too, so make sure you draw up a statement of affairs (also in the pack mentioned above or a link is contained in the debt free wannabe forum).

And above all make sure you pay them something in the meantime, even if only a £1 token payment each month whilst you get yourself set up.

It might be helpful if you could post your statement of affairs to see exactly how much you currently pay to utilities, car running costs, entertainment, groceries etc to see if others can advise you on how to save a few £. This will show exactly how much you have left per month for paying unsecured debts - but do post it in a new thread so it doesn't get missed.

Hope that helps a bit, I'm a few months further down the line than you

Thanks for advice
Most of debts are in £3000-4000 range so just offered equal, no debts more than £4500. I sent a income/expenditure sheet with my letters, showing I had £318 spare every month for unsecured debts

sickasachip13

Hi everyone,

Well I'm a few months into the DMP now and it's been a pretty smooth ride (glitches with MBNA and Barclaycard aside).

Our CCCS DMP is based only on my OH's wage and is only £200 pm on a significant debt. I'm currently looking for work and feel that I'm going to get a job soon as the market seems to be picking up a lot.

I wondered - when our DMP payment goes up, if some of the payments are more than the contracted minimum will the creditors suddenly load the % back on?

I ask because this is bound to happen as we've got some really quite small debts alongside some really big ones and even if the DMP doubles we'll be reaching minimum payments on a few.

Hope everyone is having a good Friday :T

fluffed

Hi everyone

Well, I've opened a basic Barclays account and am just waiting to make sure my pay goes in this month before starting with my DMP.
I heard the minute my bank finds out, they can freeze my account and take money... can't possibly have that!

I've been doing lots of research and put some info onto Gregory something or other..... HUGE mistake, they've done nothing but call me!
Think I've had 18 missed calls in the last two hours! I'm good at ignoring though and not being phased, so I think I'll be alright once the
bank starts harrassing me when the DMP is up and running

I'm very excited to be finally getting some control back and I've had huge support from my OH as well as reading through this thread - you've all
been such a great help without realising you've been helping me, so thank you!!!

Here goes..... £34k in debt... time to knock a huge dent in it (hopefully!)

Happy weekend all! x

Superbiatch

fluffed wrote: »

Hi everyone

Well, I've opened a basic Barclays account and am just waiting to make sure my pay goes in this month before starting with my DMP.
I heard the minute my bank finds out, they can freeze my account and take money... can't possibly have that!

I've been doing lots of research and put some info onto Gregory something or other..... HUGE mistake, they've done nothing but call me!
Think I've had 18 missed calls in the last two hours! I'm good at ignoring though and not being phased, so I think I'll be alright once the
bank starts harrassing me when the DMP is up and running

I'm very excited to be finally getting some control back and I've had huge support from my OH as well as reading through this thread - you've all
been such a great help without realising you've been helping me, so thank you!!!

Here goes..... £34k in debt... time to knock a huge dent in it (hopefully!)

Happy weekend all! x

I know the relief to be finally dealing with it all, good luck in your DFW quest and have a fab weekend - all you DFW's!

ianmak

fluffed wrote: »

Hi everyone

Well, I've opened a basic Barclays account and am just waiting to make sure my pay goes in this month before starting with my DMP.
I heard the minute my bank finds out, they can freeze my account and take money... can't possibly have that!

I've been doing lots of research and put some info onto Gregory something or other..... HUGE mistake, they've done nothing but call me!
Think I've had 18 missed calls in the last two hours! I'm good at ignoring though and not being phased, so I think I'll be alright once the
bank starts harrassing me when the DMP is up and running

I'm very excited to be finally getting some control back and I've had huge support from my OH as well as reading through this thread - you've all
been such a great help without realising you've been helping me, so thank you!!!

Here goes..... £34k in debt... time to knock a huge dent in it (hopefully!)

Happy weekend all! x

Just out of curiousity, are you doing it with Gregory & Pennington? If so there are a couple of free companies you can use?

sickasachip13

Well done Fluffed :-)

Twit_Head

sickasachip13 wrote: »

Hi everyone,

Well I'm a few months into the DMP now and it's been a pretty smooth ride (glitches with MBNA and Barclaycard aside).

Our CCCS DMP is based only on my OH's wage and is only £200 pm on a significant debt. I'm currently looking for work and feel that I'm going to get a job soon as the market seems to be picking up a lot.

I wondered - when our DMP payment goes up, if some of the payments are more than the contracted minimum will the creditors suddenly load the % back on?

I ask because this is bound to happen as we've got some really quite small debts alongside some really big ones and even if the DMP doubles we'll be reaching minimum payments on a few.

Hope everyone is having a good Friday :T

Hasn't happened to me yet (I'm nowhere near the contracted minimum payments ) but looking at the recent posts it seems to be not unusual for creditors to start adding interest again.
Maybe worth a read back to do some research?
I know it's difficult but try not to 'worry in advance' - you can't anticipate what actions your creditors will take. Better to hang on to the thought your repayments are possibly going to increase.
Who can tell what the future brings? I know its not considered 'fair play' but you might even be able to offer F + F's on the smaller debts at some stage.

'Twitty'