DMP Mutual Support Thread - Part 7

Slimming-world

Hi
I am currently with Gregory Pennington on a DMP who cost almost £30 a month of what I can afford to pay off what I owe my question is how easy is it to manage my own DMP?

ianmak

sophie1412 wrote: »

Hi,

I'm just in the process of completing paperwork for DMP with CCCS. I've been told that I need a new bank account as some of my debt is with my current bank (Natwest).

Can anyone recommend where to go to get a new account for someone with rubbish credit score, and whether I'll be likely to be allowed a debit card to access my money??

Also, should I be honest with a new bank about my situation or just keep quiet??

Thanks in advance,
Sophie

You can go to any bank you're not linked with (as someone said, there is a list somewhere!). Request a 'Basic' bank account, and be quite specific about this. Normally with these accounts you will receive a debit card, but no cheque book or overdraft. I don't think they credit score you for one either.

ianmak

Twins wrote: »

HI all,

Please advise, I just read in a post above that when you send out the letter to the creditors saying you are on a DMP plan you should NOT sign the letter?

Why is this? I'm worried now as I just posted out 9 letters to my creditors yesterday and all of them I signed!! What have I done?

Will this cause me problems? Please advise - panacking now!

I won't cause you problems as such, but it has been suggested by some that a creditor could in theory use that signature and apply it in other areas, such as an unsigned copy of your original credit agreement.

ianmak

Slimming-world wrote: »

Hi
I am currently with Gregory Pennington on a DMP who cost almost £30 a month of what I can afford to pay off what I owe my question is how easy is it to manage my own DMP?

It can be done, see this website for help: http://www.nationaldebtline.co.uk/

However PayPlan and CCCS can manage a DMP for you, and don't charge you for using their service.

www.payplan.com
www.cccs.co.uk

ianmak

pumpkinsoup wrote: »

Hi all ive been lurking for the past week after having my so called lightbulb moment!! you all seem really lovely and its good to know i wont be on my own!!
well heres our situation: We have basically run up debts to the tune of 22k, spread between loans credit cards and overdrafts!(i only added it all up the other day and cant belive how stupid we have been!!).I havent slept for months trying to move peter to pay paul all the time, ive always dealt with the finances and hubby has only just became aware of how bad it is since payments coming out and getting bank charges!!.I spoke to a friend the other day whom i know has had worries of her own and has had a dmp for a few years.I ended up breaking down and she basically explained how it all worked and said if we dont do it now we could be in double the amount of debt in 2 years!*(ive even started doing weekly shopping on credit card).
heres what ive done so far so reduce outgoings:
started food shopping online!
put my 2 children on sandwhiches for school!
cancelled sky sports!
put my car up for sale, my mother in law has offered to give me a lift to work!
Now heres my questions:
our mortgage is with the halifax and that is one of the people we owe an overdraft too, when we change accounts will this be able to be moved!also can we have a debit card to shop online still!
on selling my car i have told hubbie i want to buy a new chest freezer and fill it! he thinks this is a waste of money as we already have a fridge freezer!! my argument is i can get more bargains batch cook and shop less, who is right??i will then pay off the rest towards debts!
will i get a refund on my car insurance? i paid yearly on my cc in feb!
where do i add mobile phones to my budget on the cccs??we are tied in for another 8 months!
i pay my bills through secure homes which has now changed to money way should i cancel this?
thanks so much in advance and i look forward to getting to know u all xxx.

Hi ya and welcome...

So many questions!

I can advise on a few.

I have a mortgage with Nationwide who I also have a small od with. They've always been kept completely seperate, and neither really know about the other!

When you get a new 'Basic' bank account you will be given a debit card that you can use online. However have you thought about prepay cards if you're concerned about web security?

Not sure about the chest freezer. I cook in bulk but live on my own. I don't do the deals found in supermarkets as I find they're a waste of money (except for toilet roll - I buy those if they're on offer lol).

I believe you can cancel car insurance, but you'll need to check with the insurer, and if you do get a refund, make sure it doesn't end up on the Credit Card you purchased it with!

There is a section for mobile phones, not sure what the limits are though. If you're trying to reduce costs, have you rung your provider to see if you can change tariff? I've done this several times with Orange and had no probs or penalties.

Not sure on the last part? Is that all bills, or CC bills?

MissPriss

I sent out my "freeze" letters without signature and have had a couple of snotty letters back from the banks saying that as I hadn't signed the letter, they couldn't action my request. They were perfectly happy to cash the postal orders I included though. They can whistle, as far as I'm concerned. If they'll take my money, they can take my unsigned letter. Tesco even included a small dot dot dot section for me to put my signature in - just randomly (not on a copy of the letter I sent, so they could have applied that signature to anything. They are so crafty.). As if I'm going to fall for that!

the_tooth_fairy

sophie1412 wrote: »

Hi,

I'm just in the process of completing paperwork for DMP with CCCS. I've been told that I need a new bank account as some of my debt is with my current bank (Natwest).

Can anyone recommend where to go to get a new account for someone with rubbish credit score, and whether I'll be likely to be allowed a debit card to access my money??

Also, should I be honest with a new bank about my situation or just keep quiet??

Thanks in advance,
Sophie

Hi Sophie, and welcome!

I had to change a/cs to avoid 'setting off' as well, we went with Nationwide, it is important not to have an overdraft facility when on a DMP. Quite a few people here have spoken highly of the Co op, who do a basic current a/c as well. You should have no problem getting a debit card, etc.
Let us know how you get on.

ttf

the_tooth_fairy

Hi Pumpkinsoup! I think a chest freezer is only efficient if you keep it filled up, I read somewhere that if there are parts not filled, you should scrunch up newspaper to fill the gaps and save electricity! Having said that, it should really save energy when you can batch cook for your family, esp. when fresh food is in season and cheaper. Plus, it is good to come in from work and not have to start cooking from scratch. Any tips you have as you get started we would be grateful for, good luck,

ttf

Spongbong

Hi!

My husband and I are right at the beginning of our DMP; we owe £23,000 in loans, credit cards and overdrafts and have only recently accepted that we really can't carry on as we are.

We have no CCJs, no defaults or late payments so it's frightening because we are basically going to have start defaulting on everything! We are doing our DMP through CCCS and haven't even sent the letters out yet because we're waiting for our paperwork to come through about our new bank accounts first.

I am so nervous about it all but we're living off credit all the time and it just can't go on.

I have a question:

What do we do if a creditor refuses our DMP but doesn't take us to court? Will we just go on for eternity incurring massive interest and fees?

Thanks all.

ianmak

the_tooth_fairy wrote: »

Hi Pumpkinsoup! I think a chest freezer is only efficient if you keep it filled up, I read somewhere that if there are parts not filled, you should scrunch up newspaper to fill the gaps and save electricity! Having said that, it should really save energy when you can batch cook for your family, esp. when fresh food is in season and cheaper. Plus, it is good to come in from work and not have to start cooking from scratch. Any tips you have as you get started we would be grateful for, good luck,

ttf

Keep meaning to mention, has anyone been watching Super Scrimpers on channel 4? Quite an eye opener and a bit extreme, but very interesting.