DMP Mutual Support Thread - Part 7

ianmak

Wannabefree1 wrote: »

Can I join you all for some support. I'm at the beginning of our journey and SCARED :eek:

Hi and welcome. Congrats on beginning your journey, well done on recognising your problems, and good luck!

Jenjen

Please can i have a number too? I suspect I'll be here for quite some time!

pickled72

Hi Please can I have a number - new to all this myself and found this all SO useful and supportive, good work guys and girls :-)

Joyanne

Oh right, could I have a number then please cause I'm gonna be around for about 7 years, it'll be nice to share my experiences and give others support x

Nargleblast

Bumping this thread for some newbies out there who are thinking of starting a DMP.

BlushingRose

Thanks Nargle x

We've just filled in the online forms from CCCS and are waiting for an email. We'll be opening a new bank account on Thursday so it's all starting to happen and, frankly, I'm terrified!!!

I;d like a number too please, as, like Jen I'll be around for a few years :eek:

Joyanne

I'm just about to send my paperwork to cccs and my creditor letters went today. It's so scary when u add it all up, but at least u can't ignore it when it's in black and white and staring back at u.

Christmas on a budget with 5 kids is going to be a challenge, for the past few years I've just ordered from the catalogue on buy now pay later, or pulled out the credit card, no wonder I'm in the mess I'm in.

I'd just like to say thankyou to everyone who posts on here cause whether u realise it or not u have all helped me no end. :T

PinotGrigio41

Hi been lurking and reading everyones stories for ages now and have subscribed to the thread. Dont think I have posted before, but you never know my brain has been so muzzy and fuzzled with all the numbers whirring around in it. Anyway, paperwork completed, letters to creditors signed and in an envelope waiting to be sent and or returned to CCCS,couldnt quite pluck up courage to put it in the post yesterday for some reason, but I will today !!

I will be around for a very long time, approx 20years according to CCCS, all the advice I have read on here has helped me no end already. Woudl I be able to have a number as well please ??

meme86

couple of questions

just entered DMP with cccs

1. from what i am experiencing, the companies that i have credit cards with soon accept your offer for reduced payments, but are loan providers more reluctant?
my 2 credit card creditors accepted within around 10 days, but when it comes to the loans, tsb sent a letter to say thankyou for letting them know, but do not mention if they will accept, sent a few letters, but they send me the same letter of thanks back.
sainsburys on the other hand wont even respond to my letters with regards to the loan. i have a credit card with them, and they accepted that straight away.

2. i know that dmp messes up your credit rating, and stays on for 6 years. is it 6 years from starting DMP (if all creditors accept.agree reduced payments), or is it 6 years from when you finish DMP/paid all money back?

thanks

richie_gc

meme86 wrote: »

couple of questions

just entered DMP with cccs

1. from what i am experiencing, the companies that i have credit cards with soon accept your offer for reduced payments, but are loan providers more reluctant?
my 2 credit card creditors accepted within around 10 days, but when it comes to the loans, tsb sent a letter to say thankyou for letting them know, but do not mention if they will accept, sent a few letters, but they send me the same letter of thanks back.
sainsburys on the other hand wont even respond to my letters with regards to the loan. i have a credit card with them, and they accepted that straight away.

2. i know that dmp messes up your credit rating, and stays on for 6 years. is it 6 years from starting DMP (if all creditors accept.agree reduced payments), or is it 6 years from when you finish DMP/paid all money back?

thanks

Hi,

Well done for taking that step - its well worth it.

1. I have 2 loans, one with RBS and one with NRAM. RBS have been very good, accepting the payment proposals, but the first letter we got from them was along the lines of "We'll accept the payments but you'll still pay interest for now" then a couple of months later they sent us an updated acceptance of our proposal stopping interest. NRAM have also been ok, accepting the payment proposal. However because the interest was added at the start of the loan they have not reduced that. They have also been a bit more strict about reviewing the situation, but the accepatnce was quite quick.

2. I believe that the defaults last for 6 years. Not all of my creditors have defaulted me though, and one only defaulted me last month - almost a year into my DMP.

Richie