DMP Mutual Support Thread - Part 7

Hopelessly_Hopeful

Ellieseleven wrote: »

Well, been refused for a standard bank account with the Co-op that doesn't stop me from going for a cashminder account does It?

Thanks
Ellie

Sorry to hear that Ellie. No you can still apply for cashminder. I'm sure it will be fine but there is some stuff on here about being a legal right to have a bank account for everyone now so do shout up if you run into problems. Will be thinking of you.

HHx

mikon

Scouselad1974

Sometime back i posted a thread on this forum see page 5 regarding the exuberant interest rates that CITI were charging me. I wrote to the chief exec and the Financial Ombudsman. I have since received a letter from CITI informing me that my complaint was upheld and they would freeze interest and accept the offer made via my DMP. Thank you for your help on this matter.

Thanks scouselad1974

Regards

Mikon

the_tooth_fairy

Well, I posted a while back about a letter I had written to Sainsburys Visa about the large amount of 'reduced' rate of interest they were charging me.
I received, what I can only describe as a 'snotogram', from them today to say that, basically, my debt was decreasing. They only charge interest they think is fair, so what was I complaining about? Oh, and by the way, if I couldn't make my repayments, here's the number to call.
Yep, umbrella, smumbrella ( or should that be schmuckbrella!!).
I am still encouraging OH to appeal his sudden re-application of interest rate. At least they stopped his at the start ( Sainsburys never did) then lumped it all back on again so perhaps we may get somewhere with that one.
I shouldn't complain about the last 2 creditors of the 12, but what 2 greedy beggars!! Especially since we have been customers since 1992 and 1996.
God help the poor mugs just getting sucked into their world. Umbrella, anyone? ( I'm singing in the rain!)

ttf

scouselad1974

mikon wrote: »

Scouselad1974

Sometime back i posted a thread on this forum see page 5 regarding the exuberant interest rates that CITI were charging me. I wrote to the chief exec and the Financial Ombudsman. I have since received a letter from CITI informing me that my complaint was upheld and they would freeze interest and accept the offer made via my DMP. Thank you for your help on this matter.

Thanks scouselad1974

Regards

Mikon

Hi

That is brilliant news, I've had a bit of a bad day and your news has really cheered me up. Well done :j:beer:

goingforward_3

Hi.. can i join this thread please.

I did post a question earlier but in hindsight i think it might have been better on this thread.

Anyway we (as in husband and i) have today started the ball rolling for a DMP with the CCCS.

We were stupid spent too much on credit, then when the interest rates went up and he got ill last yr we struggled and struggled and we got to the point where it was affecting our relationship with each other and i was tired of being a grumpy/snappy mum ..

But we spent it so we will pay it all back. But they way we were going with minimum payments and having to use the cards to live each month we would never have paid it back .

We owe a huge amount but should be cleared in 7 yrs but hopefully much sooner... which brings me to my list of questions (apologies if there should be on this thread my mind is a whirl on questions!).

1) We have a ltd company and unfortunatly the bank account is Natwest who we also have a overdraft with, + mint and rbs loans are some off our creditors.. i am terrified they will offset whats in the company account against what we owe them. Can they do this?

2) The amount the CCCS have allowed us to live on is far more than we have scraped by on recently.. are we allowed to save some of that and say treats the kids to a few nights away or do we have to account for every penny?

3) Although we have a ltd company i also work its a pretty unconvential job where one week i can earn £200 and others £400...do i have to tell the cccs when i earn extra or can i squirrel it away in the hope of being able to make some f &f offers?

4)Are we allowed a prepaid mastercard...reason being if he's up the road and blows a tyre out on the lorry or whatever (the ltd co is a small haulage company) its always useful to be able to pay for someone to come and most will accept mastercard. I was thinking that if he had a card with say £1k on just so he can fill up or whatver would be useful. Or will it show up on the credit report of us having £1k stashed on the card and therefore pee off our creditors?

I think thats it for now lol..... i know its the right thing to do and that in 7 but hopefully 4 years we will be completely debt free, but i just feel a bit jittery about it .

Thanks for reading x

ianmak

Ellieseleven wrote: »

Well, been refused for a standard bank account with the Co-op that doesn't stop me from going for a cashminder account does It?

Thanks
Ellie

They turned me down for a standard acct too (still got 7 quid through Quidco though, even though I didn't get the account). Went straight into my local branch and applied for a cashminder, they soon approved me. Very good they have been too.

ianmak

goingforward wrote: »

Hi.. can i join this thread please.

I did post a question earlier but in hindsight i think it might have been better on this thread.

Anyway we (as in husband and i) have today started the ball rolling for a DMP with the CCCS.

We were stupid spent too much on credit, then when the interest rates went up and he got ill last yr we struggled and struggled and we got to the point where it was affecting our relationship with each other and i was tired of being a grumpy/snappy mum ..

But we spent it so we will pay it all back. But they way we were going with minimum payments and having to use the cards to live each month we would never have paid it back .

We owe a huge amount but should be cleared in 7 yrs but hopefully much sooner... which brings me to my list of questions (apologies if there should be on this thread my mind is a whirl on questions!).

1) We have a ltd company and unfortunatly the bank account is Natwest who we also have a overdraft with, + mint and rbs loans are some off our creditors.. i am terrified they will offset whats in the company account against what we owe them. Can they do this?
If you setup a separate account through a creditor with whom you have no debts, then you should be ok.

2) The amount the CCCS have allowed us to live on is far more than we have scraped by on recently.. are we allowed to save some of that and say treats the kids to a few nights away or do we have to account for every penny?
You're allowed some leeway with entertainments and such, or... you could overcompensate with other allowances (food etc to allow for some treats...

3) Although we have a ltd company i also work its a pretty unconvential job where one week i can earn £200 and others £400...do i have to tell the cccs when i earn extra or can i squirrel it away in the hope of being able to make some f &f offers?
Not sure on this, I guess you need to provide your average salary, anything on top could be given to them, or squirrelled away.

4)Are we allowed a prepaid mastercard...reason being if he's up the road and blows a tyre out on the lorry or whatever (the ltd co is a small haulage company) its always useful to be able to pay for someone to come and most will accept mastercard. I was thinking that if he had a card with say £1k on just so he can fill up or whatver would be useful. Or will it show up on the credit report of us having £1k stashed on the card and therefore pee off our creditors?
Anything put on that Mastercard would count as savings I guess. Not sure if 1k would count as too much though? However you should have something set by for emergencies.

I think thats it for now lol..... i know its the right thing to do and that in 7 but hopefully 4 years we will be completely debt free, but i just feel a bit jittery about it .

Thanks for reading x

Hello and welcome, see some replies above, hopefully some of it will help!

Ellieseleven

Thanks Ian, I'll try for a cashminder account this morning :T

goingforward_3

Ianmak thankyou for the replies.

Re the business account... moving it appears to have thrown up two problems..

1) Our credits also include HBCS and Lloyds so cant move it there but
2) Directors of limited Co's are credit searched (i think) so should any bank/building society do that , then they wont want us anyway.

Whatever happens we must have a bank account for the company else we cant earn any money..

Re the pre paid mastercard, if say there was £500 or £1000 on it which looks alot but blow out a tyre or fill up the deisel tanks and it soon disappears lol.. would that balance show up on our credit file.

I suppose my question is how would any creditors know that we had that money on a card... i dont intend to be dishonest, but i didnt know if any savings/pre paid cards like Fairfx etc do show up anywhere.?


Its a standing joke in this house that anything that isnt used is ebayed...normally i save that money for things like xmas or my much needed new windows (maybe in about 10yrs time!!) . So if for example i earn £150 on ebay do i need to be telling the creditors about that too.

What i would like to do really is set aside any spare money either by overtime / ebay and make some f&f offers to clear things asap.

Really sorry for all the questions x

goingforward_3

Ellieseleven wrote: »

Thanks Ian, I'll try for a cashminder account this morning :T

Ellie i was turned down for a current account with the coop yesterday so i rang them up and asked about the cashminder and they approved it within about 10 mins x