DMP Mutual Support Thread - Part 7

londonfraggle

DevonGirl wrote: »

Hello - haven't been on this site for ages - great to see old 'faces' still around! Have been on CCCS DMP for about 2.5 years now. All going swimmingly, did 1 F&F for a small credit card with CitiBank because they were being very aggressive. Had a couple of blips where I couldn't pay full amount (car problem then boiler problem), but just paid less, then back to full amount - so no problems.

My question is, I'm finding it a bit of struggle at the moment with increased petrol costs and general cost of living, as I'm sure most people are around the country! I currently pay £280 a month on approx £19.5k of debt, due to be debt free in 2017/8. My wages are £21k pa. I'd like to drop by about £25 each month as this is what I'm running short by.... But then it's only £25...

Should I continue to really stretch myself as the DFD is already sooo far away, or do you think it is reasonable to pay less? Am trying to find extra work but no luck so far. Do you think that lenders have had a lot of DMPers reducing their payment amounts with the current increased costs of living? :question:
Thanks for listening!

Hiya - just in my opinion I really wouldn't even attempt to keep paying what you are if you're struggling - that's what can lead back to square one! And yes, I gather than there have been loads of people having to reduce their DMPs either short term (like me) or longer term so you certainly won't be the first! Remember - a DMP is about paying back as much as you can but still having a life first (of course I don't mean zooming off to the Maldives - I wish! - but being able to pay bills, get to work, eat, and yes even allow yourself the odd luxury of a DVD and a glass of (cheap!) plonk.

If your costs of living have gone up you should just ask your DMP company for a review and go through it explaining where your increases are. If they are reasonable increases - which yours definitely sound as if they are - there won't be a problem. Worst case, if you reduce your amount, you may get a few grumbles from creditors but it will be much better in the long run to get it back to what you can afford than to struggle and end up crashing! And let's face it - creditors can grumble away (and they may not - in fact mine never have when I've had to reduce for odd one-offs) but hey, you're doing your best and still chipping away at it.

Good luck!

Fraggle x

londonfraggle

Twit_Head wrote: »

Hi
See my reply to Joanne about writing/phoning your creditors re: added interest. If it really is untenable you can complain to the financial ombudsman but in the first instance I would find out exactly how things stand and pin down the actual amount of your debt, and then get that complaint on it's way.
Hate to sound harsh but I remember years ago being given the advise 'never assume.' This is especialy true of a DMP. It really helps to grease the wheels if you check, then check again. Read your statements, check your Payplan online, keep your own records of balances etc. Don't be a victim of your debt.
Hope with a bit of stirring you'll get a a happier outcome.

'Twitty'

Hiya - yes I would totally agree with Twitty here. I make a point of calling all my creditors every two months (I have too many to try and do it once a month and let's face it, it's a fairly miserable job!) to check the balances. And I would add that it's not always in their favour! I have found, quite a few times, that the balance they have is lower than the one my DMP provider had - ok sometimes only by pennies but still, it all helps bring that DFD closer in my head!

Fraggle x

londonfraggle

southernbelle wrote: »

I will try and do it myself, although I work long hours and I don't really have time. I have looked into doing some freelance work, possibly telemarketing in the evenings - which I don't want to do but there we go.

I will get together my interest rates and do a SOA, I will start another thread with it in so I'd be really grateful if people would look at it. I don't think there's anything I can change though.

I get a payrise in October, which should be around £200 a month, so that'll help a lot. I just want this to be over. I can't stop crying because I'm so worried about this payday loan.

I will wait for the booklet from CCCS which they are sending, and that will have all the details of what I can afford to pay creditors, then I will write letters myself. I have already told the creditors that I am struggling, so we'll see what happens.

HI southernbelle - poor you. I am really surprised that the CCCS said they couldn't help you. I just wonder, and I hope this won't annoy anyone too much, if perhaps you just happened to catch someone unhelpful on the phone. It has happened to me before. They are usually so great but I guess they are only human. In the past I have come off the phone to them in tears thinking things with my DMP were about to go t%8s up and then after taking stock and calling back getting a totally different answer.

If your bills/outgoings/debt repatments etc are higher than your income then there really should be some way they could help you. Was it that your surplus income was too low for a DMP? Or perhaps it was that your hadn't gathered together every single debt so they weren't aware of everything? Sorry - I'm sure you had thought of all of this but you never know.

I would take a deep breath. Get all your facts and figures together and call again.

Please let us know how you get on and remember everyone here is ready to help you.

Fraggle x

londonfraggle

Hi - am doing one of my late night trawlings on here and having replied to a few threads thought it only right to give a quick update of where I am!

So after my wobble earlier in the month (where I was half told I might have to come off the DMP in the near future as I was now meeting all my contractual payments) things have settled back down. In fact I have even had a refund from one creditor that has been cleared because they were over paid!! (another reason to make sure you keep checking the amounts with the creditors direct!).

My DFD has come down by a couple of months - and in fact I am increasing my payments from next month (not really an increase, but reduced it a few months ago for various reasons and it's going back up again from July) so it will come down even more then - yay!! With a bit of luck I'm now looking at 14 months to go....fingers crossed.

I actually tried to make a few F&Fs this month (with the refund I received) - hahahaha. What a joke! Because I've been sticking to the DMP and they are all getting regular payments (mostly over the basic contractual now) I was laughed out of town. So it seems as if I now just have to stick to it tightly for the next year and a bit and hope for the best. OH is worried about being made redundant (company been taken over) so that may throw a spanner in the works (not his DMP - only mine, but of course it means mortgage/bills etc might be more difficult if it happens). But until then will just keep plodding on!

Interestingly I've started to get the credit application junk mail again....odd!!? Of course it all goes straight in the recycling bin, but it's mad to think that certain companies (including some I have debts with) think I might ever want credit again. Totally insane.

So - good luck to all - and just keep at it. Chip chip chipping away!

Fraggle x

Twit_Head

londonfraggle wrote: »

Hiya - just in my opinion I really wouldn't even attempt to keep paying what you are if you're struggling - that's what can lead back to square one! And yes, I gather than there have been loads of people having to reduce their DMPs either short term (like me) or longer term so you certainly won't be the first! Remember - a DMP is about paying back as much as you can but still having a life first (of course I don't mean zooming off to the Maldives - I wish! - but being able to pay bills, get to work, eat, and yes even allow yourself the odd luxury of a DVD and a glass of (cheap!) plonk.

If your costs of living have gone up you should just ask your DMP company for a review and go through it explaining where your increases are. If they are reasonable increases - which yours definitely sound as if they are - there won't be a problem. Worst case, if you reduce your amount, you may get a few grumbles from creditors but it will be much better in the long run to get it back to what you can afford than to struggle and end up crashing! And let's face it - creditors can grumble away (and they may not - in fact mine never have when I've had to reduce for odd one-offs) but hey, you're doing your best and still chipping away at it.

Good luck!

Fraggle x

Hi Fraggle
Great to hear from you again! You are SO right about reduced payments. Mikon and others recently have had to reduce - a blow but necessary to keep to keep your head above the water. It's a nightmare at the moment for those on strict budgets.
I'm still just hanging on by the tips of my fingers but I fear it will change very soon. Have just been shopping this afternoon and it's scary :eek:
The cost of everday things has increased to a frightening extent. It's not just a couple of pence but 50-70p on some essential items.
I'm sure many creditors will understand and accept (if not with a smile on their face) that many like us are really struggling to cope.
Makes you wish you born with the ability to kick a ball and earn an £INDECENT AMOUNT per week really doesn't it?

'Twitty'

Mrs_Arcanum

Sad to say you do have to keep asking for interest to be frozen. GE Money took nearly a year to do so, then promptly handed the debt to Link (very nasty people) :mad:

Good luck to all & keep your chin up.

charlize_angel

Hi guys,

My partner and I set up a DMP last December, making our first payment of 350 pounds on 1st January.

We have made all payments, but our DMP company have only mmanaged to freeze about one third of our interest from creditors and our debts have increased by over 2000 pounds since January.

I am now being threatened with litigation court? and getting letters far worse than when we started. Even worse is the debts has increased so much since January.

The company do not seem to be answering their phone now either, it is a nightmare. Advice please?

:(

southernbelle

Thanks Fraggle I appreciate all the advice on here.

ianmak

charlize_angel wrote: »

Hi guys,

My partner and I set up a DMP last December, making our first payment of 350 pounds on 1st January.

We have made all payments, but our DMP company have only mmanaged to freeze about one third of our interest from creditors and our debts have increased by over 2000 pounds since January.

I am now being threatened with litigation court? and getting letters far worse than when we started. Even worse is the debts has increased so much since January.

The company do not seem to be answering their phone now either, it is a nightmare. Advice please?

:(

It can take a long time for creditors to freeze interest, but they're not obliged to do this.

As for court, not sure what to say, have you spoken to your creditors at all to see what's going on?

the_tooth_fairy

Twit_Head wrote: »

Hi Fraggle
Great to hear from you again! You are SO right about reduced payments. Mikon and others recently have had to reduce - a blow but necessary to keep to keep your head above the water. It's a nightmare at the moment for those on strict budgets.
I'm still just hanging on by the tips of my fingers but I fear it will change very soon. Have just been shopping this afternoon and it's scary :eek:
The cost of everday things has increased to a frightening extent. It's not just a couple of pence but 50-70p on some essential items.
I'm sure many creditors will understand and accept (if not with a smile on their face) that many like us are really struggling to cope.
Makes you wish you born with the ability to kick a ball and earn an £INDECENT AMOUNT per week really doesn't it?

'Twitty'

Hey Twitty (and Fraggle, great to hear you, too) yes, am one of the reducers this month and as Next didn't receive any payment at all they have slapped a £17 fee on me, start of many I'm sure... Payplan didn't send the payments until the 17th this month, it's usually about the 10th, I guess it might be because they had to re assess the figures.
Hope normal service will be resumed next month, but am dreading the mail in the next few days

ttf