DMP Mutual Support Thread - Part 7

sunfleur

ianmak wrote: »

Are you sure it's not a letter saying that your account is in dispute and so on hold (so you can't take further credit from it)? I'm sure I had a couple of similar letters.

The exact wording is:

Thank you for your recent communication regarding a dispute on your account. Your query is receiving attention. You will be contactyed again as soon as the matter has been fully investigated.

Thank you for your patience in this matter.

Very polite letter actually considering who it is from.... We did tell all of our creditors that we do not wish to use the accounts again and have destroyed the cards etc.

Not really concerned about it at this stage just thought it odd.

cowbag789

ianmak wrote: »

20 years plus... Could I ask if you're still borrowing off the cards?

With a DMP you're looking at an end to it all, however far ahead. As regards Credit in the future, yes you will be able to get some again, but do you really want it? Personally I'd love to be able to save for things in the future, like people did in the olden days.

no, i've stopped spending on the cards, have been moving moeny around from one to another a bit trying to get better rates but haven't spent any on them for over a year.

what worries me about future credit and stuff is that the reason i would like to get out of debt is so that i can have the ability to eventually buy a bigger house and i don't want to be stuck unable to get a mortgage or a very good mortgage deal because i was on a DMP.

Ellieseleven

Hi Cowbag, we were in a similar position to you last year i.e. moving money around, robbing Peter to pay Paul etc. etc. but we managed to keep going for another year before succumbing to a DMP but we have ended up further in debt than we were last year and still having to go down this route.

We had posted a SOA and cut back wherever we could but still we could not get on top of things due to my husbands business doing badly, rate hikes from the CC companies, minimum payments etc.

In the last couple of weeks I have approached the CCCS and gone through their debt remedy and we are now heading down the DMP route. We are sorry that we didn't do this last year now as we have still ended up at the same place but could have been 12 months into our DMP.

Our credit rating was trashed because we had missed a couple of payments in Nov/Dec 2009 and this has had a further impact when trying to get out of this mess so now we feel that we have nothing to lose by doing a DMP and we certainly do not want any more credit.

Hope this helps

Ellie:)

ianmak

A few newbies. Please join in!

powerchimp 388
MrsGibbs1503 389
MRS A 390
sunfleur 391

goingforward_3

Ianmak can i have a number as well please thankyou x

ianmak

cowbag789 wrote: »

no, i've stopped spending on the cards, have been moving moeny around from one to another a bit trying to get better rates but haven't spent any on them for over a year.

what worries me about future credit and stuff is that the reason i would like to get out of debt is so that i can have the ability to eventually buy a bigger house and i don't want to be stuck unable to get a mortgage or a very good mortgage deal because i was on a DMP.

Do you have a mortgage now? If so then that will stand you in good stead, so long as you make your mortgage payments. If you don't have a mortgage, then you may like to consider other options, such as *whispers* an IVA.

As for getting out of debt, can you see any other option as it stands? What are the alternatives?

ianmak

sunfleur wrote: »

The exact wording is:

Thank you for your recent communication regarding a dispute on your account. Your query is receiving attention. You will be contactyed again as soon as the matter has been fully investigated.

Thank you for your patience in this matter.

Very polite letter actually considering who it is from.... We did tell all of our creditors that we do not wish to use the accounts again and have destroyed the cards etc.

Not really concerned about it at this stage just thought it odd.

A lot of the time these letters will be automated. If you want to put your mind at rest, perhaps give them a ring and explain your situation? Else just wait and see what happens next!

ianmak

ljm21 wrote: »

thanks for the response and no I've not posted my SOA but I am happy with it. Nothing more can be taken out.

My problem is I can make the payments to my loand and interest payments to the payday loans. This leaves me with less than on the debt management plan, but the difference is negligible. The prolem is I will never be able to pay back the payday loans how things stand.

Payplan are strugling because my contractual payments are lower than they are offering with the DMP. Ie I am paying more on a DMP.

They have all my financials since 18 June and now they tell me this. So now I have racked up late fees and interest charges. So I find myself worse off than before

Lisa

Have you included the payday loans onto the DMP?

ljm21

yes, all the payday loans are in the DMP. I can cover the interest but never the main loan amount. So unless I win the lottery I will be in this situation for ever, with the constant worry that the payday loans will not be deferred.

I am thiniking of trying a new Debt management company, don't know what else to do

ianmak

ljm21 wrote: »

yes, all the payday loans are in the DMP. I can cover the interest but never the main loan amount. So unless I win the lottery I will be in this situation for ever, with the constant worry that the payday loans will not be deferred.

I am thiniking of trying a new Debt management company, don't know what else to do

You could try the online CCCS Remedy and see what they suggest? Else try ringing the National Debtline, and maybe able to suggest something?