DMP Mutual Support Thread - Part 7

jules1973

Twins wrote: »

Hello everyone,

How has the start been to your Bank Holiday weekend? Hope you've managed to get some good news or managed to save some of that hard earned cash?

Just a quick update I got two letters in the post today, one from Mint and the other from my bank Santandar saying that they have approved my payment with CCCS and have stopped all interest! :T Also spoke to Satandar the other week who deal with my repayment for my sofa's via DFS and again they agreed to my payment and zero interest Wow, that feels like a weight being lifted off my shoulders!

Still got Barclaycard, Capital One, Egg and Next to go so fingers crossed they will all be ok with my new 'arrangement' :undecided

This is my first full month on the DMP so keep checking my bank balance all the time! It's such an expensive month for me due to birthday's, anniversarys and also kids birthday party to pay for!

Anyway, hope you all have a relaxing weekend and here's to more money saving ideas!

Next, Egg and Barclaycard have been three of easiest to deal with. All agreed immediately and have all stopped interest.:T

muddlemess1

Ha I'm back, I've been lurking but not been able to sign in - not been able to get password to work! so had to start with a new name - was muddlemess before - can't remember my DMP support thread number! Well here I am over a year on my DMP and I must say without the help of you all on here I'm not sure I would have been able to do it! So a big thank you!!

I'm back to ask questions but now I can log on will hopefully be able to try and help others!

Just wondered if anyone has changed a single DMP into a joint one, my partner (of 15 years) is now thinking of adding to my DMP, after losing all his overtime - he currently gives me £900 of his monthly salary towards monthly costs, with his overtime he had enought to pay his CC's and O/D but not anymore, really struggling again and it's either he joins me or reduces what he gives me and I am paying a tiny amount into my DMP anyway! I'm just really concerned as he owes considerably less than me (about 1/3) but with him giving me £900 a month he has less money so to do it with two seperate ones not sure it would work, could he budget all the mortgage and outgoings to pay himself? - on the up side will reduce my dfd by 2.5 yrs but really not sure what to do , don't want to rock the boat with my creditors either. Just can't wait until Nov when our fixed rate mortgage will end and if interest rates stay as they are we will be £250 a month better off! (extra money, mmm bet the interest rates will sprial by then, just our luck)!

His debts are with Yorkshire Bank, Egg, Santander and M&S - I already have Egg, Santander and M&S but not YB anyone had any experiences with Yorkshire bank?

Any advice would be appreciated ! Many thanks in advance and hellooo again !!

I didn;t miss any payments when I started my DMP so just sent my letter from CCCS and cheque for £1 until set up before anyone knew what was happening, but with OH's missed last months payments and the calls have started - just waiting for his work to transfere his wages into 'safe' account - they forgot last month so unsure if we should send out letters to all except his overdraft to explain we are in the process of setting up DMP? Any advice appreciated really pannicking...

Sorry for long post !!MM xx

smcshane

Morning All,

I havent been posting as regulary recently, unfortunately DMP has been going ok so have had the time to start thinking about life again!
Well, decided to update my signature and can't belive how much the debt is starting to disappear, Ive a long way to go but 29% paid is better than 0%.
I still do not like the fact helifax say I am not in financial difficulty but have now removed my account from online banking, why! Hopefully will get an email response from them soon. Also, had a counter offer from Santander to my F&F requesting 70% of balance I had 50% available, so have written back and said sorry but can not increase F&F so will just keep paying through DMP so waiting to hear outcome on that too.
DMP has now been running for 2 years and it really has changed mine and partners life. Budgeting is still hard some months but it is definitely going to be worth the effort.
For all those just starting out, keep going you will seee light at the end of the tunnel.
Sx

the_tooth_fairy

Good Morning, and a Happy Bank Hol to all!
I'm just going to try to compose an email to Payplan now, decided to bite the bullet as there's nowt else to do.
Thanks again for the posts supporting us, I don't know where I'd be without this forum.
Wish me luck!

ttf

SadieM_2

Hello everyone, it's been a while since I was after help as DMP was going along reasonably well, other than the Halifax who refuse to stop interest on mine and hubbys credit cards. But that's not the problem I'm worried about now. Hubby was made redundant at the end of April but has been lucky enough to find another job. However, new job pays about £400 a month less than old job which will mean that we will have to reduce our DMP payment down from £750 to £350 which I'm sure is going to cause havoc. A better paid job might come along at some point but bearing in mind we are both nearly 60 and the job market as it is I'm not holding my breath. Our debt free date was around 7 years but this will obviously double which I'm sure our creditors won't be too happy about. Anyone have any experiences or advice they would like to share. Isn't it just the way that when you think you have got things sorted it all goes pear shape. Having said that, if he hadn't got a job they would be getting a £1 month each so I suppose we have to look on the positive side, whether our creditors will though will be another matter.

mikon

SadieM wrote: »

Hello everyone, it's been a while since I was after help as DMP was going along reasonably well, other than the Halifax who refuse to stop interest on mine and hubbys credit cards. But that's not the problem I'm worried about now. Hubby was made redundant at the end of April but has been lucky enough to find another job. However, new job pays about £400 a month less than old job which will mean that we will have to reduce our DMP payment down from £750 to £350 which I'm sure is going to cause havoc. A better paid job might come along at some point but bearing in mind we are both nearly 60 and the job market as it is I'm not holding my breath. Our debt free date was around 7 years but this will obviously double which I'm sure our creditors won't be too happy about. Anyone have any experiences or advice they would like to share. Isn't it just the way that when you think you have got things sorted it all goes pear shape. Having said that, if he hadn't got a job they would be getting a £1 month each so I suppose we have to look on the positive side, whether our creditors will though will be another matter.

SadieM

I have just reduced my DMP buy £170 per month and am waiting to see what the creditors reaction will be. CCCS have informed me that they are currently getting hundreds of requests for reductions. What they also said is that creditors look for consistency in payments so I may not get much hassle as long as I continue to maintain payments. I think more concern is expressed by creditors when you miss payments or monthly payments keep fluctuating and there is no consistent payment.

Good Luck....

Mikon

sunnygirls

Well ive just checked online banking of all accounts and it looks like Barclaycard have accepted our DMP with CCCS ,thats one of our biggest creditors with 5 cc been held with them i cant tell on 4 of them wether interest has been stopped as statement not due for a couple of days ,on the one i can see its been dropped to 3% which is a start .Halifax ive heard nothing except ive missed a loan payment but not heard about cc's or overdraft but they have stopped my online banking so i cant see whats happening :mad:
Mbna accepted straight away on both mine and dh cc's .Capital one want a signature and looking online theyve charged late fee so there not playing ball:(.Yorkshire bank accepted on a tempory basis and stopped interest, Beneficial accepted and stopped interest So if i can get Halifax on board i will be very happy .
Cant believe its been nearly a month since i had that lbm so much has happened this forum has become my second home im always on here ,when im thinking omg what have i done i just read this thread and think yeah your doing the right thing .
I was skint at weekend was dreading this week (school holidays)
normally id have gone somewere (paid on cc of course) so sat we cleared shed out and sunday we did a car boot and made over £100:j on stuff that i would have normally sent to tip and ive still got loads left for another one which im going to do next week . well thats my rambling over .Have a good day all Sunny x

Jubilee76

Hi all

A long time lurker on these threads, I have found so many of your posts inspiring as my DMP has been chugging along.

Today is a bit of a milestone for me as I pay another payment to CCCS which takes my DMP under £20k. I know for some people, owing that amount would make them go :eek: but with interest added along the way I have paid off nearly £30k. That seemed impossible a while ago but suddenly there does seem to be light down a very long tunnel.

The best decision I made was to start a DMP with CCCS just over 4 years ago. It made me face up to a lot of debt which I was only making minimum payments on, address my spending habits and make me realise the value of money I guess. It is hard having such a strict budget and not being able to say yes to all social invites and new clothes being bought but close friends and family have been supportive along the way.

To anyone starting out on the DMP path, the beginning does seem a very scary time but phone calls do settle down, I hardly seem to receive any correspondence now and before you know it, you'll look at a statement from CCCS and see those debts coming down. That is a good feeling.

The important thing is to celebrate the small goals along the way. I have 10 creditors and remember getting excited cos one month finally every one was under £5k lol :rotfl:

Mikon, I found your comments really interesting. I've not had to discuss reducing payments with CCCS yet, though with 3 years to go on DMP I expect it to come up, but that made a lot of sense. Thank you for finding that out.

Sorry to have rambled on....I should be studying for exmas next week but anything can keep me distracted at the moment lol

Could I have a member number please for this thread

Thanks

Jubilee x

jules1973

Odd letter from Choice (shop Direct) Owed them £170 as of yesterday. They never accepted my offer on DMP but kept paying. Now they have sent me letter saying they think I have misunderstood about how I was paying over the past few years, so as a gesture of goodwill, they would take off my charges from last few years totally £160. So I paid off £10 today and looks like they owe me £20 as cashback. Have closed account.

Now one creditor down. Plenty more to go.

They said they hope I continue to shop with them - bit unlikely when you consider I have another account owing £3000 which they have just passed on internal DCA.

betsy_pig

Hi

I have just come off the phone with CCCS and have decided to do a DMP. They originally suggested bankruptcy which made me cry but then after talking to them again and discovering that the house was at risk (even in negative equity) and imminent 25% paycut in my husband's salary they suggested a DMP with very small monthly payment of a couple of quid. Although I am feeling a bit better - especially after almost entering into an IVA with Debt Free Direct which it turns out we wouldn't be able to do anyway -I am still feeling down.:(

I know the debt will still be there and take an estimated 17 years (!) to pay off but at least we will be paying something. I was really tempted by bankruptcy because then at least it would all be gone and we could start a new slate but the possibility of losing the house isn't one we could do with. I feel like I should be feeling better but i am very anxious and stressed. Will the DMP stand once it is set up and that's that forever?

Thank crunchie for this website! :T