DMP Mutual Support Thread - Part 7

Hopelessly_Hopeful

time4help wrote: »

well i posted few weeks ago i was going into a dmp have 6 creditors my first payment come out 1st april (ironic lol)

have 6 creditors and aalready had 1st letter from cap one confirming my account has now been set up on reduced payment plan although they have defaulted me straight away but i guess thats to be expected , just wondering when i find out if they changed my interest rate or kept i the same

Hi


Great news you have got started. Thats good news they accepted, dont worry too much about default, your ratings shot anyway. Hoorah, just thiknk you will be better long term. You wil find out re interest when you get your statement I expect.

HHx

Hopelessly_Hopeful

secretshopper75 wrote: »

Morning

Just received a default for one of the small credit cards, do I need to notify CCCS?

Doesn't make any difference to them. You could always email to save you and them time if you wanted to let them know.

HHx

Hopelessly_Hopeful

dlb wrote: »

Hiya everyone, thought id pop in and update you on how things are going for me, because without this thread a few years ago i would have never coped!

Background info for those that dont remember me.
STARTING DEBT 24K !!!!!!!!!! CURRENT DEBT 3.5K !
Went with free paying firm then swapped after a few yrs to Payplan
Has only ever had 1 income whlist on dmp and that is only minimum wage..hubby and 4 kids in toe lol...if we can do this anyone can!

Im now in my 6th and final year of my DMP, and for some reason now i have become obssesed again with saving and cutting back even further....i have a feeling this is because my debt free date is in site and im so greatful to be almost back on the straight and narrow so to speak that i now enjoying saving and cutting back.

Also because as the years have gone by i let the budget slip here and there as you get to a point where you do have a little spare cash at the end of the month because of all the hard work you put into budgeting planning ect. So have tightened the reins again...so far this week iv got my sky package reduced to half price for the next 6 monhts ( i have had sky all the way through my dmp, as this is a big part of our family entertainment), iv started shopping online which already i can see is saving me even more money, using the codes from this site, it stops me impulse buying and i only get what i need. Also signed up for free dvd postage scheme from the grabit now board to get free Amazon voucher, which will be used for a birthday pressie and the kids get free games for a month thrown in.

Also i am awaiting cheques from the local council to the tune of £600, this was due to us now qualifying for some housing and council tax benifit due to my husband having to cut his working hours down to 3 days due to illness, but whilst applying descovered that the law changed 2 years ago regarding taking child benifit into account..so for the last 2 years i would have qualifed but didnt apply as did not know this...so i asked for maximum backdate and got it...so when cheques come it will go straight into emergency fund:T

On creditor front everyone happy, no contact in 2 years from some, Halifax still appling interest but this is due to my account being in good order they say as they get £50 more a month from payplan than the minimum payment they require...Payplan keep asking them to reduce but they are the only creditor that hasnt played ball so to speak.

So all in all and can still say going on the DMP was the best thing i have ever done finacially that is, and just wished i had not gone with the fee paying firm in the beginning as i would be already debt free if i had gone straight to payplan...but we live and learn.

Good luck to all already on your journey or anyone about to hop on for the ride too......
BE PROUD THAT YOU ARE DEALING WITH YOUR DEBTS, NOT EMBARRASED OR SCARED..HOLD YOUR HEAD HIGH AND LOOK TO THE FUTURE XXXXX

Great posts, truely inspirational. Well done and I hope you have a smooth ride closing down your DMP. Whats the goal afterwards?

HHx

Hopelessly_Hopeful

the_tooth_fairy wrote: »

Well, yesterday I received yet another default notice from Sainsburys as well as a letter informing me that they had decreased my credit limit! More out of sheer annoyance than anything, I called them and they basically told me that they don't stop interest for anyone. Their idea of reduced interest is to let you pay off £12 of the £50 odd you pay them.
Payplan have speedily responded, as usual, and said that because I'm not that far in arrears, they are unlikely to pass the debt over to a collections agency, who would stop interest. So there it is.
And it's bl@@dy raining!:mad:

ttf

Sorry to hear that TF. Rant away. The sun will soon be out!

HHx

time4help

Thank you HH its a relief to get things started, its gonna be a long road i worry about if i will ever be able to get a mortgage when this is finished but i guess i should just focus on sticking to the plan and becoming debt free !!

MoneysTooTightToMention

ianmak wrote: »

Hmm not always. A lot of the time the systems are automated to just auto ring. It may take a day or so for the systems to update.

Perhaps!

heres hoping:j

secretshopper75

Hopelessly_Hopeful wrote: »

Doesn't make any difference to them. You could always email to save you and them time if you wanted to let them know.

HHx

Thanks HH, didn't think it would make a difference just can't think straight at the moment.

jules1973

Next keeping sending me emails saying I'm in arrears, asking me to pay or email them. Should I email saying I sent a letter re: setting up a DMP or should I just wait.

Was going to email and say "I'm in process of setting up a DMP, so please refer to the letter I sent on .........."

stelly

jules1973 wrote: »

Next keeping sending me emails saying I'm in arrears, asking me to pay or email them. Should I email saying I sent a letter re: setting up a DMP or should I just wait.

Was going to email and say "I'm in process of setting up a DMP, so please refer to the letter I sent on .........."

I'm in the process of sorting out my DMP and am also in arrears with Next. They called and left a message the other day saying to phone so I did yesterday.

The woman was really nice. Wish all call centres were like her. She just took my DMP reference no. said they wouldn't contact again and would wait to hear from CCCS.

Lloydtsb on the other hand are doing my head in.

They have taken a charge from my account (which quite clearly has no money) because I cancelled the DD for the loan so now I'm overdrawn which means another charge for that :wall: . Can really see this being a vicious circle with them and their charges. A pain as Lloyds are 4 out of 6 of our unsecured debts.

So in amongst all the letters they have sent r.e cancelled DD's and missed payment on credit card they sent my OH a letter to apply for a loan :rotfl: .

Thank god OH and my wages are now going in to our new account.

I've just sorted out postal orders for my token payments but I'm a bit confused about what to do for the Lloydstsb overdraft.

I phone Lloyds and the woman said I send it to my branch with the postal order in my name. Is this right??

Stelly xx

Hopelessly_Hopeful

time4help wrote: »

Thank you HH its a relief to get things started, its gonna be a long road i worry about if i will ever be able to get a mortgage when this is finished but i guess i should just focus on sticking to the plan and becoming debt free !!

If you are looking for inspiration play around with the mortgage calulator on here. Then think about what you could do post DMP by stashing 2/3rd of your DMP payment into a savings account for a home. You'll soon see when you are not paying out mortgage interest the dream of home and being mortage free will come sooner than if you just jumped straight into a mortgage.

HHx