DMP Mutual Support Thread - Part 7

marcstephenthomas

grantalien wrote: »

She could opt for payplan on CCCS who would administer the DMP and NOT charge a fee - 100% goes to her creditors and they are recognised by creditors, could be less stressful that going it alone (if she is worried that is) :beer:

CCCS said they couldn't help her. She hasn't tried Payplan but she will before going it alone.

debtfreewannabe321

massivedebts wrote: »

Hey DFW!!

Don't feel disheartened! Things WILL get better I promise!! It's still early early days for you!

We have 4 debts with MBNA and at the start of our DMP they just kept piling on the late charges and interest....after about 6 months I gave them a ring and spoke to a great chap who really seemed to have empathy with our situation and said he would look to get all the interest and charges refunded...and he did!

I believe many posters on here would probably write a letter and ask them to stop, it certainly can't hurt, and it might make you feel better, often dealing with something that is getting you down is half the battle;).

Keep battling on and things will get better for you, there really is a light at the end of the tunnel even if it seems a million light years away at the moment!

Take care
MD x

Thanks MD

I think I am going to try and ring a few tomorrow, as they were online accounts (i chose to go paperfree) so I have no idea if they have accepted terms on those two, and having tried and failed several times to access the accounts online I'm going to ring them and just ask...(hate making calls which is why I have put this off). Am also going to get DH to ring 2 of his that we've heard nothing from then from there I will know who to write to concerning round 2 of the letters to ask for interest to stop.....can I ask you, do you know if there is a letter template for sending these letters out, i'm not bad with writing but I know on here there usually seems to be a template for everything and that way I would be asking the exact right thing ...would you also send out your SOA again? Sorry for all the questions but i'm determined to get some of this interest stopped otherwise i really will be a long haul DMP'er....I'll be paying till i'm pushing up daisies!! Thanks for all your help

DFW x

ianmak

Mrs_Trouble wrote: »

Hello everyone, hope you're having a nice Bank Holiday weekend - it's nice as there's no post

My first payment has gone to CCCS on Saturday but I am a bit worried about what to do with a few creditors.

I haven't heard from Mint, Tescos, NRAM but MBNA have accepted. My next payment to them isn't due until

I was due to pay my two Barclaycard cards on 28th April and 3rd May, I thought about trying to pay the minimum so I didn't get a missed payment (stupid I know) but when I logged on to their accounts there was no option to pay the minimum payment and it appeared as if it wasn't even due - does that mean they have accepted?

I am due to pay the minimum payment on 12th May to Santander for £123, my DMP payment of £158 is due to go to them when CCCS send it on 28th - I am worried about a load of phone calls and wonder if I should pay a token payment to BC and Santander until the full one goes or should I do nothing at all?

Any advice anyone??

I'm a bit lost, but once the payment has gone out, you shouldn't send any further payments out. Have you been paying the token payments while the DMP was being setup?

Mrs_Trouble

It did sound a bit garbled

My payments were up to date until now and now my first payment has gone to CCCS - I understand that they send the money to the creditors at the end of the month?

This will be the first time I have actually paid nothing and missed a payment - just wondered whether I should make a token payment to appease them until they receive the DMP payment or will they be ok as they know a payment is coming at the end of the month?

I am assuming Barclaycard are accepting as they are not saying a minimum is now due - mega confused now

ianmak

Mrs_Trouble wrote: »

It did sound a bit garbled

My payments were up to date until now and now my first payment has gone to CCCS - I understand that they send the money to the creditors at the end of the month?

This will be the first time I have actually paid nothing and missed a payment - just wondered whether I should make a token payment to appease them until they receive the DMP payment or will they be ok as they know a payment is coming at the end of the month?

I am assuming Barclaycard are accepting as they are not saying a minimum is now due - mega confused now

Basically you just carry on with monthly tokens until they receive your first CCCS payment. So if a payment is due on 28th May, then the first CCCS payment should cover that one.

shortie1205

marcstephenthomas wrote: »

Hello everyone

I was just wondering if anyone has any experience of switching from a fee charging DMP to a self-administered DMP?

My girlfriend is currently paying around £130pm to a company which takes a £35 fee..this is obviously a ridiculous waste of money especially as her total debt is around £5000 (to make matters worse her payments regularly reach one of her creditors late and she is often charged a late payment fees of £12).

So she is considering doing her own DMP but is scared about what her creditors reaction will be and about them hassling her. To my mind it should be to their benefit as they will be receiving more of the £130 each month because there will be no fee, but in reality I don't know if this will be the case.

Should she just set up standing orders to each creditor and send them her monthly budget and a letter explaining that she will be managing her own DMP in future? Any advice would be appreciated.

Hi,,I self manage my DMP via the nationdebtline Cashflow process. You get a reference number which I quote to anyone who asks which company I am with so they never really know that the DMP is self managed. I have been on the DMP for 18 monthes and never had any issue with being self managed. I find it easier as I set up the standing orders and am in control of the payments so never get any late payments.
If I need advise other than the support here I ring nationaldebtline and they are great.
Recommend the self managed route to anyone....

pollyannapink

I am new to posting on the forum so I hope for some advice regarding what happens if you enter into a DWP and then need to rent a property from a letting agent?

We rent now and I am very seriously considering a DWP for my debts of £9, 500. I know that my credit file will then be a mass of default notices. As you never know when your landlord might want to sell the property and give you notice to move out..... Do letting agents turn you down because of this information on your credit file?

Many thanks for your time and the huge help this forum has been to me.

Hopelessly_Hopeful

pollyannapink wrote: »

I am new to posting on the forum so I hope for some advice regarding what happens if you enter into a DWP and then need to rent a property from a letting agent?

We rent now and I am very seriously considering a DWP for my debts of £9, 500. I know that my credit file will then be a mass of default notices. As you never know when your landlord might want to sell the property and give you notice to move out..... Do letting agents turn you down because of this information on your credit file?

Many thanks for your time and the huge help this forum has been to me.

Hi PAP

As far as I know this will blot your credit record and will come up on the credit search done by landlords/agents. Are you happy where you are? If so could you extend the contract or move before the DMP. Suggest call debtline for advice.

Good luck and please let us know how you get on so it helps others. These forum only work if a significant number of people give as well as take if you see what I mean.

HHx

Hopelessly_Hopeful

debtfreewannabe321 wrote: »

Hi All

I've just sat down to go through all of my paperwork regarding creditors & CCCS and have to say feeling very disheartened right now

I know this will only be my 3rd month of paying into it, but so far only one creditor has stopped interest ( a vanquis card with our lowest debt ) and the rest are closing accounts and defaulting, or just sending me a default each month, with late charges & not closing account.

I don't know whether to write to each company again asking them to reassess and see if they will stop it or just leave it to settle...although currently (just checked interests) I am paying most of my £295 a month onto interest, and on some of these debts this is not even enough to cover the minimum interest let alone pay anything off the balance. I really don't know what to do? Sorry I only ever seem to come on this thread to moan but you seem the most knowledgable concerning all this....opinions pls??

Keep at it sending the letters and pleading with your dmp provider to do so too. Usually take 3-6 months to settle down.

Good luck

HHx

Hopelessly_Hopeful

sunnygirls wrote: »

Hi im after advice again ,im hoping to set up a dmp and am raring to go ive done the debt remedy and it all seems fine but the total i put in for my husbands wage is an average is this ok ? Some weeks he earns £600 (after loads of overtime ) the week after he may earn £320 his basic with no overtime ,there is no set pattern to his earnings .

I agree with BM. Think of a DMP like a cross country run rather than a sprint or you may crash and burn.

Good Luck

HHx