DMP Mutual Support Thread - Part 7

JES_F1

Hopelessly_Hopeful wrote: »

Hi Jes

Ohhhhh your last full year on DMP, great news for you!

We shouldn't wish our lives away but I do hope it goes smoothly for you.

When you paid some creditors off and then were in a position to increase the payment to the remaining ones has that given you problems? I have heard of some people having issues when they go over minimum repayment amounts for example?

HHx

Thank you!

So far, I've had no problems. Having just cleared another card, it's possible that a couple of my remaining debts will now be around the minimum payments, which I know has caused problems for some people, particularly where interest has been frozen.

Something I shall be keeping a close eye on over the next couple of months - while keeping all my fingers crossed!

Hopelessly_Hopeful

JES_F1 wrote: »

Thank you!

So far, I've had no problems. Having just cleared another card, it's possible that a couple of my remaining debts will now be around the minimum payments, which I know has caused problems for some people, particularly where interest has been frozen.

Something I shall be keeping a close eye on over the next couple of months - while keeping all my fingers crossed!

Fingers crossed for you too!

I am hoping that this time next year I will be in a similar position to you. I was wondering about going self managed at that stage so I could start picking them off?

Anyway, New Year so let's keep with the positive vibes

HHx

BlushingRose

HI all,
Thought I;d pop in to say that this morning we closed our store card account. We'd paid it off (£25) in December and have now closed. In retrospect, of course, we shouldn't have paid it off yet as we didn't realise that we might be needing the £25 at the end of the pay month. *sigh* but at least it's gone now.

PinotGrigio41

BlushingRose wrote: »

HI all,
Thought I;d pop in to say that this morning we closed our store card account. We'd paid it off (£25) in December and have now closed. In retrospect, of course, we shouldn't have paid it off yet as we didn't realise that we might be needing the £25 at the end of the pay month. *sigh* but at least it's gone now.

As much as you may need the £25 its a nice feeling to think that you have got rid of something and can cross it off of the list. We paid off an overdraft and a small credit card last month and although the amounts werent too huge, it was like a (very small!!) weight had been lifted from our shoulders ! Onwards and upwards from here I say !:)

Giraffeseeker

After a day of sorting out paperwork in preparation for my DMP I have discovered two things....

1) I noticed that my tax credit overpayment repayment was £20 less than normal in December, yet when I called them 2 or 3 months ago for a balance they had told me just over £2K was still owing. SO I dug VERY deep into my files and found the original agreement - which finished in December with a final, slightly lower payment. So it is paid off! yay! I'm £2k less in debt than I thought this morning! I can only assume that the £2k balance I was previously given was for the whole account - my ex-husband is paying half of it and they promised I was only liable for half. So £98 more per month for my other creditors :-)

2) My water bill which arrived just before Christmas shows I am £493 in credit. My bill (based on an actual reading) was £103 for 6 months and I have been paying £41 per month. Severn Trent have cancelled my DD as I have enough in the account to keep me going for around 2 years. Do you think I should ask to be refunded, say £400 of this as a cushion for when my DMP starts? and then restart a DD for around £20 per month?

I have checked readings on other utilities and my electricity was estimated as way more than I have used, the gas is about right though. Both those accounts are also in credit.

So, I've shaved around £2.5K off my debt just by checking paperwork, and so about 5 months off the DFD the CCCS gave me this morning!

BlushingRose

PinotGrigio41 wrote: »

As much as you may need the £25 its a nice feeling to think that you have got rid of something and can cross it off of the list. We paid off an overdraft and a small credit card last month and although the amounts werent too huge, it was like a (very small!!) weight had been lifted from our shoulders ! Onwards and upwards from here I say !:)

Yes it's just one more thing that we don;t have to think about. I rarely used it anyway, and if I did it was usually paid off in the same transaction. However, this has removed *any* chance of 'just getting something on the card' and then finding we don;t have the money to pay it off. If I want clothes now, it has to be money or a gift card. (Not that I ever spent much on clothes, a fashion icon I am not lol)

the_tooth_fairy

Twit_Head wrote: »

Where have you been, you wicked woman?
SO, SO glad you popped back in - I really missed saying goodbye to you personally.
Just here for a wee while myself (feel a bit like a fish out of water now!)
Hope you are fully recovered after your accident. S*d the no claims - far better a TF in one piece!
And well done you - that's an ENORMOUS amount paid off your debt. Keep going pet, one day you too will be free. Thanks to you too, for all the fun and support. :A
I wish you and yours a very happy New Year, and hopefully not too far away, a debt free future.
It's been a joy and pleasure sharing this space with you.
I KNOW you hate the word - so finally I can only say Good Luck on the rest of your JOURNEY!!! :rotfl::rotfl::rotfl:

'Twitty' x

Thanks Twitty (aargh! the J word, just as well you've given yourself the red card!!) You've been a wonderful support for all here, we will miss you.
Good Luck to all the new posters starting their DMP's, it's easy to get down at times, especially when the unexpected strikes! Twitty has reminded me to take a quick look over my shoulder, and I can hardly believe that we will be down to under £40k in the spring.Starting with a brain numbing £69k, I couldn't have imagined that.
Reminds me of the quote about the longest "J" starting with the first step!

ttf

typhoo_2

Hi everyone!

Just wanted to share my story and get involved in the forum. Been reading for a few days and just want to say that the comments so far have made me feel so much better... I want to contribute my story and also offer support as I embark on this journey!

I'm 24, got into debt and I was just careless. Kept paying off credit with credit and increasing my credit and WASTING money. I have now become wiser and more switched on and have decided to tackle my debt before it becomes wayyyyy too much (it already is a lot!!)

My debts:
NatWest Loan - £25,000
NatWest CC - £500
NatWest Overdraft - £2000
MBNA CC - £2800
Barclaycard CC - £3850
Total - £34,150 (at the age of 24.....)

Today I received my DMP with CCCS pack via email, I sent off the direct debit and agreement to pay £455 p/m (previously debt was costing me £900 p/m and I was stupidly paying one credit card by withdrawing cash from another... I have also exhausted my savings in paying debt so do not have any money or anything hidden away, such as car etc)

I'm hoping to be Debt Free in less than 6 years so hoping to still enjoy my 30's WITH MY OWN CASH!

I have sent letters to all my creditors and sent statements and pay slip to CCCS. Now it's just wait and see, right?

Few questions:
I sent CCCS my payslip for end of november, as December had a small bonus and doesn't reflect my usual monthly salary.. Will this be ok?

Does anyone think my creditors will have an issue and ask me to pay back balance immediately and get a CCJ or anything on me?

When I was filling out CCCS form online, I estimated my monthly incoming (I was rushing) and put in £37 less than what I actually get. The payslip includes that £37. Will they have an issue about this and will it cause delays?

Thanks for reading everyone!

P.S I have also opened a new bank account as suggested with smile

Hopelessly_Hopeful

typhoo wrote: »

Hi everyone!

Just wanted to share my story and get involved in the forum. Been reading for a few days and just want to say that the comments so far have made me feel so much better... I want to contribute my story and also offer support as I embark on this journey!

I'm 24, got into debt and I was just careless. Kept paying off credit with credit and increasing my credit and WASTING money. I have now become wiser and more switched on and have decided to tackle my debt before it becomes wayyyyy too much (it already is a lot!!)

My debts:
NatWest Loan - £25,000
NatWest CC - £500
NatWest Overdraft - £2000
MBNA CC - £2800
Barclaycard CC - £3850
Total - £34,150 (at the age of 24.....)

Today I received my DMP with CCCS pack via email, I sent off the direct debit and agreement to pay £455 p/m (previously debt was costing me £900 p/m and I was stupidly paying one credit card by withdrawing cash from another... I have also exhausted my savings in paying debt so do not have any money or anything hidden away, such as car etc)

I'm hoping to be Debt Free in less than 6 years so hoping to still enjoy my 30's WITH MY OWN CASH!

I have sent letters to all my creditors and sent statements and pay slip to CCCS. Now it's just wait and see, right?

Few questions:
I sent CCCS my payslip for end of november, as December had a small bonus and doesn't reflect my usual monthly salary.. Will this be ok?

Does anyone think my creditors will have an issue and ask me to pay back balance immediately and get a CCJ or anything on me?

When I was filling out CCCS form online, I estimated my monthly incoming (I was rushing) and put in £37 less than what I actually get. The payslip includes that £37. Will they have an issue about this and will it cause delays?

Thanks for reading everyone!

P.S I have also opened a new bank account as suggested with smile

Welcome.

Being financially free in your 30's sounds like a great incentive. Best of luck with your start up. Great that you will be sticking around here. These things only work if there is a critical mass of contributers.

Email and call CCCS, be clear that the bonus was a one off and tell them re the 37 pound less. Best to get it sorted out now, it will be fine.

Can't say how the creditors will react expect it may be rocky for a few months but it WILL get better. We can help deal with issues as they arise. If you don't have the money you don't have it!

Shout up if you have any questions.

HHx

sickasachip13

:wave::wave: Hello to all the newbies, welcome, pull up a pew and join us! This thread is a wealth of information and support, I've learnt so much being around here for the past 15 months or so.

Anyhow, not much to update from me, it's January which always makes me a mardy b*gger BUT, due to two small F&Fs on my online details with CCCS there are two creditors with 0 in the amount owed column. This has cheered me up no end. Just another 17 of the blighters to go...... :rotfl: