DMP Mutual Support Thread - Part 7

Twit_Head

DevonGirl wrote: »

Welcome to the Gang :hello: and ask away.....!

We're all in similar boats here, so normally someone has the answer. (Oops shouldn't go down the line of a nautical theme - might start Twithead off, bless her !!! - see previous posts.)

DG

Scuse me !!!
I've been very quiet and subdued these last few days (them straighjackets are awful hard to get loose from )

'Twitty'

DevonGirl

Aww, you know my teasing is only a sign of affection Twitty!!
Just showing a newbie how we all get along on this thread!

Hope the straight jacket isn't chaffing too much and your DFW journey continues well. All quiet here, although debt getting me down so have turned to Haribo yet again! (those 10p Starmix bags - on offer at Tesco - 11 for £1!) . Keeps me happy I guess.

Best wishes to all DMPers, especially those who started on the 1st August.
DG

Twit_Head

DevonGirl wrote: »

Aww, you know my teasing is only a sign of affection Twitty!!
Just showing a newbie how we all get along on this thread!

Hope the straight jacket isn't chaffing too much and your DFW journey continues well. All quiet here, although debt getting me down so have turned to Haribo yet again! (those 10p Starmix bags - on offer at Tesco - 11 for £1!) . Keeps me happy I guess.

Best wishes to all DMPers, especially those who started on the 1st August.
DG

I know pet, I know.
I agree with you, I like to think this is one of the friendliest threads on the ML site. No one need be afraid to ask a question -they will not be shot down in flames of ridicule or scorn here.
Yup, all goes well for me. Just had my 4th review and been able to maintain my payment (not sure how I managed that!)
And I think we all have a 'secret sin' to get us through. Your is Haribo, mines a bacon butty and a coffee for £1-79 in Wetherspoons now and again (the high life! )
Let's keep on plodding on then, DFD gets nearer slowly but surely.

'Twitty'

sickasachip13

Hey up everybody,

Well, we're about 9 months into the DMP now and everything's still ticking along nicely. I can't tell you what a relief it is - yes, we've still got shedloads of debt but we're managing it rather than it managing us. Most importantly, we've stopped the rot and for the first time in my adult life I'm not watching my debt rise, I'm watching it fall.

We've just both had letters from MBNA (we've each a CC debt with them) telling us that our credit agreement has been terminated, we'll no longer receive monthly statements, default registered and that they are considering the following options: sale of debt; placement of debt; CCJ. I'm not really concerned because we're paying them a reasonable amount through our DMP, CCCS work out this amount, so it is fair and proportionate. Just wondering who other DMPers have found MBNA transfer / sell the debt to?

All our creditors have been fine really and the DCA's we're dealing with are fine too, so far.

I still keep on top of the paperwork. I check all my statements monthly and check these figures against the CCCS ones with their online facility. Those I don't get a regular statement from I ring for the balance and record this. Everything is filed neatly into an expanding folder. Any transfers of debt, I let CCCS know straight away and get on the phone to the DCAs straight away too. I do think it's worth keeping on top of things - yes, CCCS can manage all the functions etc but it is still our debt and we need to take overall responsibility for keeping track of things.

Any newbies here - the info in this thread is invaluable. Don't be scared, it's nowhere near as bad as you probably think it could be. Keep good paperwork trails of everything. Don't be worried to ask for help.

SAAC13 x

zoey86

Hey all,

Lovely weather out there today (if you like wearing wellies!)

Starting to receive letters from creditors confirming payment arrangement with CCCS, only one creditor has issued default notice so far eeek and only one creditor still charging interest, although they have reduced this to 9.2%.

At least I know it's working!

Hey SAAC13 I setup my CCCS folder last week and have setup template forms to complete each month confirming creditor balances etc. So much better to be organised then how I was dealing with it before!
I will be following any replies you get about MBNA as that's one of my creditors too.

sunnyface

zoey86 wrote: »

Hey,

New DMP person here!
Only just found this thread (my newbie logo has only recently disappeared )

I'm sure you will get plenty of questions being thrown at you from me soon!

My DMP is just about to start on 1st Sept - so relieved

sickasachip13 wrote: »

Hey up everybody,

Well, we're about 9 months into the DMP now and everything's still ticking along nicely. I can't tell you what a relief it is - yes, we've still got shedloads of debt but we're managing it rather than it managing us. Most importantly, we've stopped the rot and for the first time in my adult life I'm not watching my debt rise, I'm watching it fall.

We've just both had letters from MBNA (we've each a CC debt with them) telling us that our credit agreement has been terminated, we'll no longer receive monthly statements, default registered and that they are considering the following options: sale of debt; placement of debt; CCJ. I'm not really concerned because we're paying them a reasonable amount through our DMP, CCCS work out this amount, so it is fair and proportionate. Just wondering who other DMPers have found MBNA transfer / sell the debt to?

All our creditors have been fine really and the DCA's we're dealing with are fine too, so far.

I still keep on top of the paperwork. I check all my statements monthly and check these figures against the CCCS ones with their online facility. Those I don't get a regular statement from I ring for the balance and record this. Everything is filed neatly into an expanding folder. Any transfers of debt, I let CCCS know straight away and get on the phone to the DCAs straight away too. I do think it's worth keeping on top of things - yes, CCCS can manage all the functions etc but it is still our debt and we need to take overall responsibility for keeping track of things.

Any newbies here - the info in this thread is invaluable. Don't be scared, it's nowhere near as bad as you probably think it could be. Keep good paperwork trails of everything. Don't be worried to ask for help.

SAAC13 x

Great tip - thanks I'll def do that.
I have 2 mbna credit cards so also interested in what happens here.

Is a default notice the same as a 'default sum' notice does anyone know? or are they different?

samlovescomps

Hello. I have just set up a DMP with CCCS. They called today to say that all letters were being sent to my creditors today. I am worried about which creditors will not accept and reading on here it seems lots of them do not accept. All of this debt is mine not my fiance's and we share a mortgage together so my concern is that they will take legal preceedings and this will affect the mortgage. I am paying £547 a month and hope to up that in a few months when I get my pay rise to £650 and then again this time next year by another £100. I know this is quite early to worry but I am petrified that if this affects our mortgage my fiance is going to say enough is enough and leave me.
My main concern is payday loans. I have 4 outstanding with Wonga, Lending Stream, Quick Quid and Payday UK. Has anyone had dealings with these companies through a DMP? Do they accept it or not? Also, I have debt with Shop Direct Group through several of their catalougues (Littlewoods, ISME, Very and k and Co) has anyone delt with them through a DMP? And Next Directory?

I know this message is just a ramble of words but I stressing out big time right now. Any advice would be welcomed.

Thanks Sam xxx

jules1973

samlovescomps wrote: »

Hello. I have just set up a DMP with CCCS. They called today to say that all letters were being sent to my creditors today. I am worried about which creditors will not accept and reading on here it seems lots of them do not accept. All of this debt is mine not my fiance's and we share a mortgage together so my concern is that they will take legal preceedings and this will affect the mortgage. I am paying £547 a month and hope to up that in a few months when I get my pay rise to £650 and then again this time next year by another £100. I know this is quite early to worry but I am petrified that if this affects our mortgage my fiance is going to say enough is enough and leave me.
My main concern is payday loans. I have 4 outstanding with Wonga, Lending Stream, Quick Quid and Payday UK. Has anyone had dealings with these companies through a DMP? Do they accept it or not? Also, I have debt with Shop Direct Group through several of their catalougues (Littlewoods, ISME, Very and k and Co) has anyone delt with them through a DMP? And Next Directory?

I know this message is just a ramble of words but I stressing out big time right now. Any advice would be welcomed.

Thanks Sam xxx

Shop Direct have not accepted my DMP, six months in. But Next accepted immediately.

samlovescomps

Thanks Jules. Can I ask what happened when they did not accept? Do they charge you more interest, send letters, call you send balifs round? I owe them £7500 which is a third of my overall debt so I will struggle if they don't accept. xx

ianmak

samlovescomps wrote: »

Thanks Jules. Can I ask what happened when they did not accept? Do they charge you more interest, send letters, call you send balifs round? I owe them £7500 which is a third of my overall debt so I will struggle if they don't accept. xx

Hello!

Npt sure on the PD loans, but regular creditors will continue to accept your money, and may or not charge interest, and may or may not default you.

Please try not to worry too much. I'm 8 years into my mortgage (nearly 3 years into my DMP, and it hasn't affected my mortgage in any way. I've been able to change onto a new fixed rate (albeit with the same mortgage provider), and one of my creditors I have my mortgage with. They've been kept completely separate.

Welcome to the gang, and please continue to join in!