DMP Mutual Support Thread - Part 7

Mrs_Trouble

Yes I have a Credit Card with Santander and bank with them. Our transfer to First Direct will complete on 19th April and so I cannot close it before then - will they not let me shut the account anyway? I will not default on a payment until end of May. We have overdraft facilities with Santander that are cleared but really I wanted to close the accounts and be done with it?

Bummer

ianmak

Hopelessly_Hopeful wrote: »

Thank you Ian, though still a little confused. I thought I had defaults but now I'm wondering if they are just notice of arrears. Certainly the sheets look different. First to rob you Direct my loyal and trusty bank of 18 years turned me down for a consolidation loan and I thought they had issued one at least. Looking now there is talk of 'default sum notice' but the same arrears sheet I get when any of the others have given me arrears notices. Dear Twitty was talking about signing up for free credit checks, are arrears notices and defaults easy to make out on these? Any advice appreciated.

HHx

Yeah, they are fairly clear. Defaults are marked as defaults, my one 'arrangement to pay' is marked as such. Arrears are also marked I believe.

ianmak

Mrs_Trouble wrote: »

Yes I have a Credit Card with Santander and bank with them. Our transfer to First Direct will complete on 19th April and so I cannot close it before then - will they not let me shut the account anyway? I will not default on a payment until end of May. We have overdraft facilities with Santander that are cleared but really I wanted to close the accounts and be done with it?

Bummer

From what I've read on here from others, Santander 'could' refuse to close the account as you have debts with the bank.

mikon

Hi everyone

Have not been on for a while. Trying to get my head around my circumstances feeling really low at the moment. Have been on a DMP since June 2010 and have got the creditors on side. Everything is running smoothly and this is the problem. I am struggling now to meet the monthly CCCS payment. With living costs going up I am now finding it hard to survive financially from month to month. The problem is I am worried that if I reduce the monthly DMP payment the creditors will start to kick off and reinstate interest and set me back to where I started they may refer me to Debt Collection Agency and also start harassing me on the phone. I am caught between the devil and the deep blue sea.

Before my DMP i used to worry about how i was going to pay the creditors now I worry about if I will have enough money to last the month. The past 2 months I have ran out on or around the 23/24 of the month. I know I should speak with CCCS but I am frightened to as I do not want to upset the creditors.

I am struggling and need some advice please.

Mikon
Mikon

kneehigh85

ianmak wrote: »

PP have been great with me too. What bad things have you heard about PP and/or DMPs?

I read a few bad reviews on thereviewcentre.co.uk saying that people still had trouble from creditors afterwards and things like that. Of course I am still going to go ahead with the DMP as PP were great but it was just a bit disheartening. As it was today when I called one creditor just to confirm balances to give to PP and they were really rude when I even mentioned the word Payplan. (Mind you, if you google Mackenzie Hall they have even worse reviews!)

Fingers crossed eh?

ianmak

Pretty basic stuff, but interesting article nonetheless!

http://www.lovemoney.com/blogs/debt/debt/11519/not-struggling-with-debt-you-might-be-soon?source=1000564

ianmak

And I'd never heard of these peeps either!
http://www.creditaction.org.uk/

ianmak

mikon wrote: »

Hi everyone

Have not been on for a while. Trying to get my head around my circumstances feeling really low at the moment. Have been on a DMP since June 2010 and have got the creditors on side. Everything is running smoothly and this is the problem. I am struggling now to meet the monthly CCCS payment. With living costs going up I am now finding it hard to survive financially from month to month. The problem is I am worried that if I reduce the monthly DMP payment the creditors will start to kick off and reinstate interest and set me back to where I started they may refer me to Debt Collection Agency and also start harassing me on the phone. I am caught between the devil and the deep blue sea.

Before my DMP i used to worry about how i was going to pay the creditors now I worry about if I will have enough money to last the month. The past 2 months I have ran out on or around the 23/24 of the month. I know I should speak with CCCS but I am frightened to as I do not want to upset the creditors.

I am struggling and need some advice please.

Mikon
Mikon

Not sure what to say other than to shop around for deals, go without stuff, etc. You may of course already done this. I worry too as my pension contributions will need to increase, as will my train fare in the next few months, and I've always managed to hide the increase (last time I did this by going carless!).

Have a word with CCCS and see what they suggest. It's only a phonecall, and you don't need to agree anything.

kneehigh85

mikon wrote: »

Hi everyone

Have not been on for a while. Trying to get my head around my circumstances feeling really low at the moment. Have been on a DMP since June 2010 and have got the creditors on side. Everything is running smoothly and this is the problem. I am struggling now to meet the monthly CCCS payment. With living costs going up I am now finding it hard to survive financially from month to month. The problem is I am worried that if I reduce the monthly DMP payment the creditors will start to kick off and reinstate interest and set me back to where I started they may refer me to Debt Collection Agency and also start harassing me on the phone. I am caught between the devil and the deep blue sea.

Before my DMP i used to worry about how i was going to pay the creditors now I worry about if I will have enough money to last the month. The past 2 months I have ran out on or around the 23/24 of the month. I know I should speak with CCCS but I am frightened to as I do not want to upset the creditors.

I am struggling and need some advice please.

Mikon
Mikon

Mikon, I am not going to lie to you and pretend to be some kind of financially savvy superstar and clearly don't take my own advice BUT having said all that, I have started a DMP process today with Payplan and I know that whatever happens in the future I will keep in close contact with them at every stage, whether I have more money or whether I start to struggle at some point. I think if you just pluck up the courage to call them then you'll be pleasantly surprised.

Good luck x x x

mikon

Hi everyone

cutting back the only thing I have not cut is my throat. I have stopped using the car essential journeys only. Renegotiated the phone packages shopping at Aldi and other stores to maximise bargains.

Monthly increase

Gas/Electric Bill increased
Petrol Increased
Car Insurance Increased
Parking Charges Increased
Food Bill Increased
Clothing for Children increased

No pay increase
Increase in Pension Fees
Increase in NI Contributions on horizon

Everything is going up and my morale is going down and whilst talking to CCCS is the only option they will suggest reducing the monthly payment which will inevitably cause my creditor to re instate interest.

Is it worth continuing being on a DMP? Its not easy especially when times are hard and you have 2 children. I am desperate for a solution.

Mikon