DMP Mutual Support Thread - Part 7

Hopelessly_Hopeful

Morning folks

Good news on the cashminder accounts.

Goingforward (yes we certainly are) welcome to the thread. I too was worried about accountability and auditable trails. Things will settle down. I have some work related expenses and was concerned how this would be perhaps falsely perceived. At the the end of the day if you dont work no money to pay priority debts (needed to live and for health) or to pay dmp so work will be a priority for them so try not to worry too much about that. What's important is to set a realistic budget with CCCS. If you dont get the budget rigt you can ask for a review but life is soooo much simpler with the preditors if you set the budget right in the first place. Advice I had from CCCS and from others here is you need to declare regular money and see the upward fluctuations as a bonus. Technically if you manage to squirrel away from budget or extras you should consider additional payments. I think it's fair to say most people find they need to use for emergency fund at some stage. Regarding your business specific queries I'd call CCCS and the National debtline with your questions. There's something reassuring about hearing the same sort of thing from both but it can depend on the experience of whom you speak to. Either way you will be more informed so better prepared and protected.

Wonderful day here - I'm going off for a walk. Hope you all have a lovely weekend

HHx

ianmak

goingforward wrote: »

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

Sorry, I missread your original question regarding your business account, so I'm not sure if they'll offset or not? Does it count as being separate, in the same way that my mortgage is separate to my A/C (both Nationwide, the A/C is on a DMP)?

Sure someone can help here!

Ellieseleven

Hi There,

Just wanted to say that we have been accepted for a cashminder account, so thank you to everyone for help on that one:T

To Going forward - We also have a business account at the same bank where our current account is and I too was worried about offsetting on this account. One lady on this forum was in the same position as us but a little further down the line and she said that she had left her business account where it was and checked regularly to see if any money had been taken. At first she only put in small amounts of money but now she has been putting larger amounts in and these haven't been taken. We have decided to do the same and see how it goes - hope this helps a little as I haven't been able to find out much about the position re: business accounts:)

SarahNeedle1872

All paperwork printed and filled in today, just need to get an envelope big enough to put all the paper in and will send it all off tomorrow. Have also printed the letters to send to all of my creditors.... do I need to send these 'signed for' or can I just normal stamp them?

Sx

goingforward_3

SarahNeedle1872 wrote: »

All paperwork printed and filled in today, just need to get an envelope big enough to put all the paper in and will send it all off tomorrow. Have also printed the letters to send to all of my creditors.... do I need to send these 'signed for' or can I just normal stamp them?

Sx

I will be posting my letters monday and i'm going to use recorded post, that way i can check they have been recieved.

smcshane

goingforward wrote: »

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

Hi,

Can't answer all your questions but regarding the savings, I have a second job with some of the monies going into a savings account. Some I take as a monthly income so is included in my SOA. I spoke to CCCS aout this and they said it was up to me what I used it for. So some stays as an emergency fund, I also at the beginning of the year make an additional payment if I haven't got enough saved for a F&F. Never had any queries ans as this is a Natwest account the balalnce will be on my credit file. For 6 months this year there was a £1000 in there as my parents gave me some money but they said it could be used for debt payments, so did some house repairs with it. Again no query from anyone during this time.

On another note I have had a bargin haircut this morning. £12.50 for a trainee to cut and blow dry. Excellent job from a good salon who train to a super standard.

Hope all are well

Sx

Ellieseleven

Hooray!! I've got a cashminder bank account:) Now just need to wait for sort code and account number then I can send everything back to CCCS

Twit_Head

goingforward wrote: »

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

Hi
Welcome to our happy but skint little band! Apologies for not being able to answer some of your other questions.
Those who are regulars of this thread know my entertainment allowance is a big fat 0. I therefore do a bit of ebaying as otherwise I have would 'null point' for even buying a birthday card etc! It helps to make life bearable. Probably not in the spirit of a DMP but if you can maintain your utility bills and make a reasonable contribution to your creditors I would be inclined to tuck your Ebay money into your 'emergency fund.'
You need to have a cushion for when things go pear shaped - car bills, heating boiler etc.etc.
Hope you get sorted soon.

'Twitty'

mikon

SarahNeedle1872 wrote: »

All paperwork printed and filled in today, just need to get an envelope big enough to put all the paper in and will send it all off tomorrow. Have also printed the letters to send to all of my creditors.... do I need to send these 'signed for' or can I just normal stamp them?

Sx

SarahNeedle1872

Do Not Sign any correspondence that you send to creditors. Electronically sign all letters. Some creditors will try and lift your signature and use it on a CCA to make it an enforceable debt. I sent mine recorded delivery.

Regards

Twit_Head

SarahNeedle1872 wrote: »

All paperwork printed and filled in today, just need to get an envelope big enough to put all the paper in and will send it all off tomorrow. Have also printed the letters to send to all of my creditors.... do I need to send these 'signed for' or can I just normal stamp them?

Sx

Much cheaper I know just to stick a stamp on but recommended to pay the extra for 'signed for' service - yeah we're the ones with no money :-(
A common ploy at the beginning is for a creditor to come back to you and say 'not received.' This way at least you have irrefutable proof that document was recieved by their company.
Good luck - hope it all soon falls into place for you.

'Twitty'