DMP Mutual Support Thread - Part 7

Hopelessly_Hopeful

Well done Hales, what a good start!

Money, at least sole DMP makes it a little easier to make the decisions. Lloyds are well out of order, write to them, ask for refund, if no joy inform ombudsman

HHx

SammyLou

Hi all,

I havent been around for a while, as been trying to sort some stuff out - but I thought I would pop by for some of your wonderful virtual support. Ihave been on my DMP for nearly a year now (1 year in May) and to be honest - I feel like I am fighting a losing battle.

I have 12 creditors and started owing £39.5k, now says on CCS website £36,750, i have paid £5,200 (Pay £477.00 per month) and the following has happened:
1. Natwest OD: have frozen interest since August, and review next August
2. Natwest CC: Interest frozen since August - review in August
3. Natwest Loan: Interest frozen since August - review in August
4. Simply Be: Frozen interest - been really helpful!
5. Thomas Cook CC: Reduced interest, but not really going down as low payemt
6. Barclaycard: Reduced interest by quite a bit, but won't freeze
7. Lloyds Loan: After intially refusing, have now accepted and I think they may have frozen interest.
8. Marbles: Refused at first and rung me about 15 times a day - I wrote to complain, and they have accepted for 12 months, but wont freeze interest as payment is below 1% - so in effect, blaance is increasing each month.
9. Argos card: Reduced interest a tiny bit, but again, only about £5.00 getting paid off per month.
10. Black Horse: Accepted for 12 months, havent frozen interest.
11. Halifax CC: Accepted for 12 months, but reduced interest only a bit - paying £35.00 per month and £26.00 interest being charged. They refuse to default or pass on to a DCA - telling me this will affect my credit - Well i know that - think its pretty shot already!!!!
12Halifax CC: Accepted for 12 months, but reduced interest only a bit - paying £83.00 per month and £65.00 interest being charged. They refuse to default or pass on to a DCA.

Really sorry to rant but I am worried about the following:
1. I don't even HAVE a DFD - as the £8k total I owe to Halifax will never be paid. I, and the CCCS have written to companies still charging interest on more than one occasion, but with no luck.
2. At the end of however long each period is set for - what if people say no?
3. Charging orders. My house is jointly owned with my fiance - who is wonderful and takes care of a lot of the bills.
4. I get married in June - in the worlds smallest registry office wedding purchsed entirely from ebay with 4 guests. See, he still wants me with all my debts! He has his own but is just keeping his head above water without a DMP. Can the preditors say if I can afford to get married (£100!!) Then i can afford to pay more???

Scared That there is no end in sight. I am sorry - just totally down about the whole thing.

Thanks for listening all.
sam x

ianmak

Mrs_Trouble wrote: »

I feel like I'm kidding myself. Sat tonight and sorted out a folder of debts with up to date statements now the DMP has started. Now I just feel like I'm sat waiting but for what I don't know? Maybe they'll all reject the payments and I'll be back to robbing Peter to pay Paul.

Will CCCS negotiate the stopping of interest or will that fall to me. Three weeks ago I was terrified of talking to creditors but now I feel that maybe I could deal with it.

My mum has given me Microsoft Money and I have budgeted to death. I have quite literally run out of things to budget for.

What do I do now, tap my fingers and wait??

Basically, yes you do wait. You just get on with your normal, post credit life. You can't worry about interest being stopped all the time.

And I received any phonecalls at the start I answered them, and explained the position. If they hadn't heard from PayPlan, then I'd phone or get in contact with them and asked to resend my SOA and letter of authority onto the creditor. Other than that, I got on with things.

maganan

Hi all,

After some advice again please. Should I have cancelled the payment protection on my credit cards???? If so is it too late to do it now???

Feel a bit daft asking this now, never even gave it a thought at set up!

Hopelessly_Hopeful

maganan wrote: »

Hi all,

After some advice again please. Should I have cancelled the payment protection on my credit cards???? If so is it too late to do it now???

Feel a bit daft asking this now, never even gave it a thought at set up!

Does it protect you when you can't pay. Look into the implications, including if they were mis sold to you. Quite a number of MSErs have had large refunds.

Good luck.

HHx

Hopelessly_Hopeful

Mrs_Trouble wrote: »

I feel like I'm kidding myself. Sat tonight and sorted out a folder of debts with up to date statements now the DMP has started. Now I just feel like I'm sat waiting but for what I don't know? Maybe they'll all reject the payments and I'll be back to robbing Peter to pay Paul.

Will CCCS negotiate the stopping of interest or will that fall to me. Three weeks ago I was terrified of talking to creditors but now I feel that maybe I could deal with it.

My mum has given me Microsoft Money and I have budgeted to death. I have quite literally run out of things to budget for.

What do I do now, tap my fingers and wait??

If I want to chanel energy I menu plan, see what I need / can afford for pressie and generally have life laundry episodes!

HHx

Hopelessly_Hopeful

SammyLou wrote: »

Hi all,

I havent been around for a while, as been trying to sort some stuff out - but I thought I would pop by for some of your wonderful virtual support. Ihave been on my DMP for nearly a year now (1 year in May) and to be honest - I feel like I am fighting a losing battle.

I have 12 creditors and started owing £39.5k, now says on CCS website £36,750, i have paid £5,200 (Pay £477.00 per month) and the following has happened:
1. Natwest OD: have frozen interest since August, and review next August
2. Natwest CC: Interest frozen since August - review in August
3. Natwest Loan: Interest frozen since August - review in August
4. Simply Be: Frozen interest - been really helpful!
5. Thomas Cook CC: Reduced interest, but not really going down as low payemt
6. Barclaycard: Reduced interest by quite a bit, but won't freeze
7. Lloyds Loan: After intially refusing, have now accepted and I think they may have frozen interest.
8. Marbles: Refused at first and rung me about 15 times a day - I wrote to complain, and they have accepted for 12 months, but wont freeze interest as payment is below 1% - so in effect, blaance is increasing each month.
9. Argos card: Reduced interest a tiny bit, but again, only about £5.00 getting paid off per month.
10. Black Horse: Accepted for 12 months, havent frozen interest.
11. Halifax CC: Accepted for 12 months, but reduced interest only a bit - paying £35.00 per month and £26.00 interest being charged. They refuse to default or pass on to a DCA - telling me this will affect my credit - Well i know that - think its pretty shot already!!!!
12Halifax CC: Accepted for 12 months, but reduced interest only a bit - paying £83.00 per month and £65.00 interest being charged. They refuse to default or pass on to a DCA.

Really sorry to rant but I am worried about the following:
1. I don't even HAVE a DFD - as the £8k total I owe to Halifax will never be paid. I, and the CCCS have written to companies still charging interest on more than one occasion, but with no luck.
2. At the end of however long each period is set for - what if people say no?
3. Charging orders. My house is jointly owned with my fiance - who is wonderful and takes care of a lot of the bills.
4. I get married in June - in the worlds smallest registry office wedding purchsed entirely from ebay with 4 guests. See, he still wants me with all my debts! He has his own but is just keeping his head above water without a DMP. Can the preditors say if I can afford to get married (£100!!) Then i can afford to pay more???

Scared That there is no end in sight. I am sorry - just totally down about the whole thing.

Thanks for listening all.
sam x

Congratulations on the marriage!

How will the Preditors know whose paying the £100 . You don't need to worry their computers with that level of detail.

Hellifex really are hellish aren't they?

As debt goes down, even if slowly so will the interest paid each month. My first month went up by 2.3%. When I make my next payment one year in I will have paid off 24%, so I hope that helps you to keep in there. That includes the fact Hellifax and a few others still charging me interest and I had to drop my DMP payment by 4% after 6 months.

Keep in there. I can almost guarantee you are in a better position now than if they were all applying interest. I know it's tough but you have something wonderful coming up. That's what's really important. I said last week, DMPs are more of a cross country run than a short sprint. Isn't it great you have a jogging partner and someone to towel you down

HHx

SammyLou

Thanks so much HH you have just made me feel a ton more positive about stuff. I know its a long haul thing, and OH keeps telling me to hang in there and that things dont happen overnight.

I just get frustrated with places like Helliifax...its as if they don't want people to help themselves. We can't defualt you it will affect your credit rating...Ha-ha

Thanks for the congrats - I truly can't wait. I just get worried people will judge me for getting married on a DMP

Thanks again

sam XX

maganan

HH,

Thank you that'll give me something to do trawling throught the small print! Hadn't even thought about mis-selling I get 6mths on full pay if off sick so maybe.........I've got a few days annual leave this week so I'm trying to get more organised.

Took the plunge and sent letters to the two preditors (both Santander) who havn't stopped or reduced interest, when I looked properly 3 had reduced interest to some extent which was a pleasant surprise after recieving letters to say they wouldn't, so we'll have to wait and see now

Thanks again for the suggestion

Kate x

secretshopper75

Congratulations on your forthcoming marriage Sammy, wishing you all the luck in the world and pleased that you're doing it, life's too short to think what if and maybe next year...yes we have debts but we're adressing them not shirking like the government and blaming others whilst not paying anything back and taking a big pay packet home each month....