DMP Mutual Support Thread - Part 7

tallulah20

Hopelessly_Hopeful wrote: »

It means rather than paying contractual amount I sent £5 token postal orders to each creditor for the month before my dmp was in place. In some ways I wish I had done this for 2 or 3 months so I could have stored an emergency fund up.


HHx

ah - yes what a good idea. I would never have thought of that. I am hoping ours will start sept so will cancel aug and go and buy some postal orders! thanks again

ianmak

Hopelessly_Hopeful wrote: »

It means rather than paying contractual amount I sent £5 token postal orders to each creditor for the month before my dmp was in place. In some ways I wish I had done this for 2 or 3 months so I could have stored an emergency fund up.


HHx

The idea being that it's a 'token' payment to say that you're trying to pay back the debt, rather than either pay the usual amount (and the creditor expect it every time), or pay nothing at all, and they get rather miffed!

Ellieseleven

I must say that I am feeling much better today about our situation, I've let things get on top of me so much over the last 2 years that everything has suffered.

I am now impatient to get my DMP up and running but this probably won't be until September.

I'm in the process of setting up a new bank account and drafting my token payment letters. I was thinking of going to a co-op cashminder account but does anyone know if there is a link on here that shows which banks are connected to each other?

Once again, I want to thank you all for giving me the strength to go through with this - whether you know it or not, your posts have helped me enormously:T

Hopelessly_Hopeful

Hi Ellie

Very welcome. You've done the most difficult part, the future is orange (and Aldi for a while) Be prepared for a rocky couple of months but it will get better. A few weeks breathing space is not a bad thing. I felt just as you did but was useful to get cracking reading old posts, setting up files, budget planning (especially groceries), looking at key events in the diary etc.

Found this on banks, saw another one somewhere will keep looking for you.


1) Lloyds TSB, Cheltenham & Gloucester
(2) Halifax, Bank of Scotland, Birmingham Midshires, Saga, The AA, Intelligent Finance
(3) The Co-Operative Bank, Smile
(4) Yorkshire Bank, Clydesdale Bank
(5) Royal Bank of Scotland, Direct Line
(6) Bank of Ireland, Post Office
(7) HSBC, First Direct
(8) Abbey, Cahoot, Bradford & Bingley
(9) Barclays, Woolwich
(10) Newcastle Building Society, BMW Savings


HHx

Ellieseleven

Thanks HH and you are right about reading the old posts, I've been going through the DFW roll of honour - so that's my goal, long way off mind!:eek:

Hopelessly_Hopeful

Hopefully these are better directed links


http://www.thisismoney.co.uk/bank-ownership


http://www.moneysavingexpert.com/savings/safe-savings#whatcounts (Follow the which banks are linked search engine)

http://forums.moneysavingexpert.com/showthread.html?t=2044049&highlight=institution


HHx

Ellieseleven

Thats great HH and has answered my question - Co-op it is:T

Hopelessly_Hopeful

Good luck. I applied online on Saturday afternoon and called into a branch Tuesday afternoon to get my account number etc. HHx

Ellieseleven

Did you apply for a standard account then? I thought that I could only apply for a cashminder account and that I could only do that at a branch?

Hopelessly_Hopeful

Ellieseleven wrote: »

Did you apply for a standard account then? I thought that I could only apply for a cashminder account and that I could only do that at a branch?

Mine's a standard. On the off chance they refuse you could then apply for a cashminder. I worried I was going to go overdrawn last month (car issues) they just upto it to priveldge account which I cancelled this month!

Good luck, shout up if we can help with anything else

HHx