DMP Mutual Support Thread - Part 7

MadamMim2013

ianmak wrote: »

A few newbies. Please join in!

powerchimp 388
MrsGibbs1503 389
MRS A 390
sunfleur 391

Yay, thanks :rotfl:

mikon

Hi everyone

Well just when I thought things had settled down with Citi. They rang me today (even though I have requested that they do not and they have written to me and accepted the offer CCCS made). Anyway they rang to ask me to pay an additional £1.80 per month and a formal plan would be set up. I told them I have not got £1.80 they then told me that I would be defaulted I told them not to worry as some of my other creditors have defaulted me and therefore my credit rating is shot. She then told me that it was only £1.80 and it would also prevent the debt being passed to a third party (anyone know who the third party is)? I said if its only £1.80 then waive the if I am sure yu have the financial backing to do so. I told her not to ring me and I would speak with CCCS.

CCCS informed me that this is a tactic that CITI use to contact you and next month they will ring and ask for another couple of pounds. I think I will just ignore this and write to them explaining that they have accepted my offer and quote some law. Anyone else had this experience?

Regards

Twit_Head

sunfleur wrote: »

Hi everyone

Slow cooker essential! We have grown our own salad stuff this summer and herbs and these help to make everything really tasty. We eat well, just less of the more expensive stuff like meat and buy it from a great butchers that actually works out less than Tesco. Thinking about getting chickens but got to save up for a little home for them!

Hope that wasn't too long - just wanted to introduce myself. Looking forward to being here for a while.....

Hello and welcome
The slow cooker is the money savers best friend.......Healthy eating at a low cost.
We used to keep chickens years ago and the d*amned things were always getting out and doing the 'Great Escape' thing, usually eating next door neighbours prize flowers. Oops!
It sounds like you have your head around all of this financial stuff. I am here till eternity so all company welcome

'Twitty'

Michelle32

Hi everyone I am really struggling at mo unable to pay credit cards I owe £30,000 between credit cards and overdraft and catalogues anyway did CCCS debt remedy they suggested trust deed or dmp I dont like the idea of a trust deed as I dont want to have to sell my house and a dmp will take 12 years any advice

thanks
Mic

ianmak

Michelle32 wrote: »

Hi everyone I am really struggling at mo unable to pay credit cards I owe £30,000 between credit cards and overdraft and catalogues anyway did CCCS debt remedy they suggested trust deed or dmp I dont like the idea of a trust deed as I dont want to have to sell my house and a dmp will take 12 years any advice

thanks
Mic

I say do it, but think about it before you take the jump, with the possibilities of Charging Orders, CCJs, Defaults etc.

But as I say time and time again, what are the alternatives? If you carry on as you are, how long before you are debt free?

Have a read through these pages, and let us know if you have any queries.

Twit_Head

cowbag789 wrote: »

thanks for all the help, i'm still a bit confused about the best way to go really, i can (just) afford my minimum repayments but it is costing me about £500 a month and several of my cards have had the rates hiked to about 29.95% so my minimum payment is effectively paying off about £5 a month! i have always paid slightly more than the minimum payment on all but my cheapest card but it still feels like i could be paying them off for 20 years, i'm just very frightened of thing like ccj's and never being able to get credit again.

A common ploy when the creditors realise you are floundering is to hoick up the interest rates to totally unreasonable!
It's a very frightening thing when you first contemplate a DMP - all these questions and doubts swirling round in your mind.
CCJs can and do happen but I think for most of us it's a case of maintain the essential bills, pay the creditors an affordable amount and live the best life you can on what is left over.
Your credit rating is not shot for ever. A default lasts for 6 years. But I believe you realise the true value of money on a DMP and would rather live a credit free life in the future. And after seeing the other side of the smiley 'welcome to our company, have some money' tactics of the big boys you really won't want to go there again.
A DMP is a structered financial repayment plan and would no doubt reduce your 'repayment' years.
Give CCCS or PayPlan and ring and have a talk to the experts. And you are always welcome here of course!

'Twitty'

Twit_Head

ianmak wrote: »

Personally I'd love to be able to save for things in the future, like people did in the olden days.

Aah yes I remember them well (the olden days that is )
But saving up is where I'm heading for in the future too :j
I was looking at one of these 'pay weekly, get the latest gizmos in your house' catologues today. Nearly 30% APR and top prices to begin with:eek:
NO thankyou very much - I'll do without and if it's really needed it can be got for lots less.

'Twitty'

ianmak

Twit_Head wrote: »

Aah yes I remember them well (the olden days that is )
But saving up is where I'm heading for in the future too :j
I was looking at one of these 'pay weekly, get the latest gizmos in your house' catologues today. Nearly 30% APR and top prices to begin with:eek:
NO thankyou very much - I'll do without and if it's really needed it can be got for lots less.

'Twitty'

Funny, your name didn't even enter my mind when I was writing that...

MadamMim2013

Twit_Head wrote: »

I was looking at one of these 'pay weekly, get the latest gizmos in your house' catologues today. Nearly 30% APR and top prices to begin with:eek:
NO thankyou very much - I'll do without and if it's really needed it can be got for lots less.

'Twitty'

Blooming shocking isn't it seeing as the whole idea is marketed at those on low incomes!!
No real different than the Studio catalogue, they have a wopping 29%+ APR....:eek:
Oh & the like of key meters too, umm and phone gas & elec companies who now charge you if you pay your bill in CASH!!!
Anything to rip off those who can least afford it...:mad:

NEVER EVER again will we be caught in the trap of credit, when our debts are clear it'll be staying that way!!!!

Mrs_Ryan

I'm giving Kensington the boot - had enough of them messing up :mad:

My debt is now down to 3k from 5.5 so I'm pretty proud of how well I'm progressing but Im fed up of getting messed around by them. I'm moving to another fee-paying company - *braces myself for the yells*

To anyone who doesnt know, CCCS and Payplan both rejected me as my debt level was too low. I am unable to administer my own DMP for various reasons so I guess I just have to get on with paying! Not looking forward to having to keep explaining myself again but hopefully normal service should be resumed soon...