DMP Mutual Support Thread - Part 7

scottygees

rang CCCS today.No problems with the reduction for a month.

ianmak

FredFlinstone wrote: »

arghhhhhhhhhhhhh the co op cashminder account is doing my head in. The online statement doesnt update for at least two or three days so balance on tehre isnt accurate. rang the telephone banking and they are the same not an accurate balance either had to go all the way through to an advisor just to get exactly what was available.

If you write down everything you spend, this should help any drawbacks to the Co-op account (I've had it for about 30 months and have had no probs!).

Fairie

Hello everyone:wave:

Ive been a member of this site for a while but keep having LBM and then hiding in the sand again.

I've got roughly £40000 worth of debt and would really love it to be gone so yet again I am making efforts to sort it.

I have talked to national debt line and they say the best thing for me to do is to write to the companies and explain my situation. Had a look on CCCS last night and they advised me to go bankrupt or write to companies and pay minimum payments for a while.

I'm currently on maternity leave and so there is not a lot of room left in my finances to pay debts off but I could start with little amounts and increase it when I go back to work.

So today I am going to write letters and get them posted, with suggestions of £1 a month to be reveiwed.

Sorry for the long post, and I hope you dont mind me nestling my way in.... I need to be strong and keep with it this time and think it will help if there is a group of (lovely) people to confer with!:T

Fairie

julie2011

Hello,
Finally gone and poked my head up from under the sand and counted my debts up and looking at ways to one day be debt free.
Have done a SOA and been on the cccs website who said I should manage it through a DMP and will be clear in 5 years 8 months. Almost 20k to clear. Am so stupid for letting it all get out of hand but really need to do something about it now.

Am really scared of doing it, but I know I will actually have money for food rather than having to pay for it with a credit card. One thing I am concerned about is that the creditors still try and contact you after you have agreed to go for a DMP through cccs. I though cccs would handle all of that but I understand not now.

I really want this to be kept a secret from my husband and want any paperwork to be sent to work, is this an option? Also what if things change like for instance if i fall pregnant or the rent goes up, can the amount paying off the debt be altered? What about dare I say it a holiday, how do you all save for that with all your money going off paying your dmp? I know I shouldnt be thinking about that but just wondered. :-)
Sorry for all the questions just wanted to get it all of my chest.
Have been worrying myself for over a year now which has probably bought on my health problems but hopefully if I decide to do the DMP which I dont have much choice in doing i'll feel a lot better
look forward in hearing from you

gabymum

Hi
We have approached cccs to set up a DMP. We 've been given a monthly figure and just have to take the plunge to agree this (scary). The problems started after a redundancy and a 8 month period out of work. Thankfully, I am now back in work.

However, we have some questions about the DMP and think you lot on here are probably as well qualified to answer as CCCS.

1) Some of our loans have no arrears at all on them, but some do (we have been paying reduced amounts to the rest). Will the fact that we are up to date on some mean they are less likely to accept a DMP?

2) Bank Accounts - we both have overdrafts which we use, we both have salaries going in every month. I don't have any other debt with the bank I use for my current account. Could I ask that to be taken out of the creditors and leave it as it is - I'm not paying them anything back anyway and they seem happy to leave the overdraft as it is. My husband does have a loan with his bank but he is uncomfortable about leaving a bank he has been with for over 20 years.

3) We can't seem to get our heads around cancelling all our direct debits - if it takes 2-3 months to set up a DMP and we are only paying a token amount that doesn't seem good!

Any support gratefully received

Thanks you

MRSG2B_2

I've not been on in a long long time now as thankfully everything has been going well with my DMP with CCCS - I am in a far better position than when I started my DMP back in May 2009, only wish I had heard of it sooner.

I am currently expecting my first baby and I'm just wondering if anyone has any experience of this whilst on a DMP with CCCS? I will only be receiving SMP while on maternity leave and wondering how CCCS dealt with this and how creditors/collection agencies reacted to reduced payments?

Thanks in advance all xx

Twit_Head

Fairie wrote: »

Hello everyone:wave:

Ive been a member of this site for a while but keep having LBM and then hiding in the sand again.

I've got roughly £40000 worth of debt and would really love it to be gone so yet again I am making efforts to sort it.

I have talked to national debt line and they say the best thing for me to do is to write to the companies and explain my situation. Had a look on CCCS last night and they advised me to go bankrupt or write to companies and pay minimum payments for a while.

I'm currently on maternity leave and so there is not a lot of room left in my finances to pay debts off but I could start with little amounts and increase it when I go back to work.

So today I am going to write letters and get them posted, with suggestions of £1 a month to be reveiwed.

Sorry for the long post, and I hope you dont mind me nestling my way in.... I need to be strong and keep with it this time and think it will help if there is a group of (lovely) people to confer with!:T

Fairie

Hello to you. Lots of excellent info. and advice on here, so stick around for help and support.

'Twitty'

Twit_Head

julie2011 wrote: »

Hello,
Finally gone and poked my head up from under the sand and counted my debts up and looking at ways to one day be debt free.
Have done a SOA and been on the cccs website who said I should manage it through a DMP and will be clear in 5 years 8 months. Almost 20k to clear. Am so stupid for letting it all get out of hand but really need to do something about it now.

Am really scared of doing it, but I know I will actually have money for food rather than having to pay for it with a credit card. One thing I am concerned about is that the creditors still try and contact you after you have agreed to go for a DMP through cccs. I though cccs would handle all of that but I understand not now.

I really want this to be kept a secret from my husband and want any paperwork to be sent to work, is this an option? Also what if things change like for instance if i fall pregnant or the rent goes up, can the amount paying off the debt be altered? What about dare I say it a holiday, how do you all save for that with all your money going off paying your dmp? I know I shouldnt be thinking about that but just wondered. :-)
Sorry for all the questions just wanted to get it all of my chest.
Have been worrying myself for over a year now which has probably bought on my health problems but hopefully if I decide to do the DMP which I dont have much choice in doing i'll feel a lot better
look forward in hearing from you

And hello to you too!
Blimey - loads to answer in your message.
But rest assured this is no more than normal, all these thoughts circling round and round :eek:
1) Creditors contacting you - yes they will. CCCS do the initial set-up and apportioning of your payments etc. but you will need to be involved as well. When I first started this frightened the living daylights out of me but be strong-you will soon gain confidence and take this in your stride.
Creditors just know you are not paying your contractual amount and might get in a bit of a tizzy to start. Once they find you are with a DMP charity and are regularly repaying on your debts, it tends to settle down. SO be honest and upfront with them. I always wrote when there was a change/ review of my DMP to back up CCCS correspondence. If they phone be polite, honest and don't be browbeaten or bullied if they should try.
2) Telling your loved ones - very,very scary this one! But best done for your sanity and wellbeing. Can you really live a double life? And how would you feel if the boot was on the other foot? Gather your courage, assemble the figures and be proud and upfront you are now doing something about the problems. Telling my family was one of the hardest things, but your family love you whatever, and after the shock should be behind you.
3) Changing payment amounts -You will have regular reviews with CCCS to ensure you are coping on your budget. It might be difficult at first if you're not used to keeping to a set amount of money but you will learn all the money-saving tricks and treats! Lots find they actully have more money in the pot - the budget is strict but will ensure you have enought to live on. And if you circumstances change, they wil help you to re-budget.
4) Saving - difficult! But possible to squirel bits away here and there. Car boot sales, selling on e-bay can help plug gaps. You won't be going to the Bahamas whilst on your DMP but 'The Sun' caravan specials, off-season deals can be reached.
Sorry if I've made sound a bit scary. It's all such a lot to take in at first but honestly you will gain confidence. And you're doing the best thing ever - facing up to those debts.

'Twitty'

Twit_Head

gabymum wrote: »

Hi
We have approached cccs to set up a DMP. We 've been given a monthly figure and just have to take the plunge to agree this (scary). The problems started after a redundancy and a 8 month period out of work. Thankfully, I am now back in work.

However, we have some questions about the DMP and think you lot on here are probably as well qualified to answer as CCCS.

1) Some of our loans have no arrears at all on them, but some do (we have been paying reduced amounts to the rest). Will the fact that we are up to date on some mean they are less likely to accept a DMP?

2) Bank Accounts - we both have overdrafts which we use, we both have salaries going in every month. I don't have any other debt with the bank I use for my current account. Could I ask that to be taken out of the creditors and leave it as it is - I'm not paying them anything back anyway and they seem happy to leave the overdraft as it is. My husband does have a loan with his bank but he is uncomfortable about leaving a bank he has been with for over 20 years.

3) We can't seem to get our heads around cancelling all our direct debits - if it takes 2-3 months to set up a DMP and we are only paying a token amount that doesn't seem good!

Any support gratefully received

Thanks you

And another hello and welcome!
1) There is no rhyme or reason to how a creditor will react to a DMP. Some will accept straight away, cancel interest etc. Others like to play the heavy mob for a while. Doesn't matter if you are up to date and have a lily-white credit record behind you, they will react differently from one persons DMP to the next. Most will accept your DMP (some won't send you confirmation but will continue taking your payment!) They are going to get paid albeit reduced.

2) Sorry but loyalty counts for nought now. You will need to set up another bank account not connected to your overdraft/loans/creditors. Your banks can 'offset' - take the money you owe from your acount.

3) Token payments give you a 'breathing space' to get everything set up. Set up bank accounts, cancel D/D's and maybe even put a bit away in an 'emergency fund'

Scary,scary, scary it seems now I know but read back on here for a feel for how it all works, and you'll soon be an old hand at this!

Sickasachip' wrote an excelent blog - all good advice.
http://moneyaware.co.uk/2011/09/my-debt-hell/
http://moneyaware.co.uk/2011/09/my-debt-help-2/


'Twitty'

Twit_Head

MRSG2B wrote: »

I've not been on in a long long time now as thankfully everything has been going well with my DMP with CCCS - I am in a far better position than when I started my DMP back in May 2009, only wish I had heard of it sooner.

I am currently expecting my first baby and I'm just wondering if anyone has any experience of this whilst on a DMP with CCCS? I will only be receiving SMP while on maternity leave and wondering how CCCS dealt with this and how creditors/collection agencies reacted to reduced payments?

Thanks in advance all xx

Congratulations!!!!
Have a good look at your toes now - when your 'bump' gets bigger they'll just be a distant memory! And just try getting into tights when you're very pregnant :rotfl:
If I was pregnant (whilst on a DMP or no) it would be a flamin' miracle and I would be phoning the tabloids now to inform them!
But give CCCS a ring. They will readjust your payments. I would also write/phone creditors to back this up and explain why you have reduced your payments.
Even though you wil be paying less for a while you're still getting that total down :beer: (Oops- you can't; you're pregnant! )
'Twitty'