DMP Mutual Support Thread - Part 7

Standingtall

Jenjen wrote: »

Grrr a family member has just paid me some money she owes me...into my old bank account. Its only £20 but it would have been nice to choose how it got spent rather than it being swallowed up into my overdraft.

I'm actually wondering whether I can still retrieve it as it has brought my overdraft back within its limit by £10 so i'm wondering if I 'accidently' did a £20 shop in tesco tomorrow if it would go through. I know HSBC would normally have authorised a transaction like this, they did many times in the past and I would put a debit card payment through the day before payday knowing the money would go in the next day. But I don't know if there will be some sort of flag on my account now to stop this happening. HSBC haven't contacted us at all about the DMP so far, or about the fact the account is overlimit. Do you think its worth a try or should I just forget about my £20?

I think I would err on the side of caution and forget it:(.. If HSBC are currently on the verge of accepting your DMP and you then use the account they may change their minds and slap all sorts of charges on you! Very annoying though, I do agree:mad:

BlushingRose

Jenjen wrote: »

Grrr a family member has just paid me some money she owes me...into my old bank account. Its only £20 but it would have been nice to choose how it got spent rather than it being swallowed up into my overdraft.

I'm actually wondering whether I can still retrieve it as it has brought my overdraft back within its limit by £10 so i'm wondering if I 'accidently' did a £20 shop in tesco tomorrow if it would go through. I know HSBC would normally have authorised a transaction like this, they did many times in the past and I would put a debit card payment through the day before payday knowing the money would go in the next day. But I don't know if there will be some sort of flag on my account now to stop this happening. HSBC haven't contacted us at all about the DMP so far, or about the fact the account is overlimit. Do you think its worth a try or should I just forget about my £20?

We were wondering much the same about the £160 gas overpayment which had been paid back to us (without us knowing) but as it actually brings the OD back into it's limit, we thought we'd leave it.

Wannabefree1

. Feeling really depressed. Have posted about progress so far on our DMP (or not!) and am now convinced we're never going to get out of thus mess. Interest will likely balance any payments we make.

Probably should of posted in here; was kinda hoping for a shining light to rescue me lol!! But now I just think I'll go wallow in some self pity

sickasachip13

Hey wannabee, just replied to your thread - feel free to wallow for a wee while, but please remember this is early days and what the creditors say is just to put the wind up you and/or disorganisation on their part. This was our experience with MBNA and Barclaycard particularly.

BlushingRose

I have to say I'd feel a bit better if we had more money to live on....

BlushingRose

Hey, Wanna - call me slow but I've just noticed that our debt levels are very similar x
We should have a 'supporting each other' thread ;-)

Em586

spoke to CCCS this morning who were really lovely and helpful. We have a few changes coming up (house move so possible change in bills, insurance, etc) and need to renew and find a cheaper car insurance... we had no savings at all, not even an 'emergency fund' until this month when we did a token payment to creditors and put aside what we would normally pay them. Have agreed with CCCS to start our DMP payments from 1st March, so one more month of token payments to get ourselves sorted beforehand. Feel much better about this!

Had our first call from a creditor today. They were actually really good and didn't question things at all, let them know that a letter would be on the way, gave CCCS reference number and asked for future communications to be in writing. Fingers crossed.

Was looking at car insurance renewal quotes and there's no way we'll manage to pay for the whole year up front. How does monthly payments and the 'no new credit' thing with CCCS work? Are things like this an exception? I assume we'd be fine with just keeping our current provider, but at £45 a month for one car I think we can bring that down!

BlushingRose

Em586 wrote: »

Was looking at car insurance renewal quotes and there's no way we'll manage to pay for the whole year up front. How does monthly payments and the 'no new credit' thing with CCCS work? Are things like this an exception? I assume we'd be fine with just keeping our current provider, but at £45 a month for one car I think we can bring that down!

I'm hoping that we can switch, cos ours is up for renewal as well, so I'll be interested in any answers you get about this.

Wannabefree1

BlushingRose wrote: »

Hey, Wanna - call me slow but I've just noticed that our debt levels are very similar x
We should have a 'supporting each other' thread ;-)

Now there's an idea. We could have a debt free race!!

If CCCS have set your budget up reasonably you should find you have plenty to get by in the month if you stick to careful limits and don't go mad. Honestly, december was my horror month as we paid off a payday loan and the overdraft along side small payments to the mob; but Jan is so far looking better. I think we went without that long it's kind of a relief.

I keep a spreadsheet and track every last penny now and plan. Where as before I was watching what i couldn't spend in fear of going overdrawn

BlushingRose

Wannabefree1 wrote: »

Now there's an idea. We could have a debt free race!!

hehe - I think you'll win...

Wannabefree1 wrote: »

If CCCS have set your budget up reasonably you should find you have plenty to get by in the month if you stick to careful limits and don't go mad. Honestly, december was my horror month as we paid off a payday loan and the overdraft along side small payments to the mob; but Jan is so far looking better. I think we went without that long it's kind of a relief.

We did have a lot going on in Dec, one or two extra payments to things that wouldn't have normally happened in the month (£45 to one place, £25 to another, for example) so perhaps that's made the difference, but I still don't feel as though we're going to be better off than we were It feels as though we're worse off, actually.

Wannabefree1 wrote: »

I keep a spreadsheet and track every last penny now and plan. Where as before I was watching what i couldn't spend in fear of going overdrawn

I'm not good with spreadsheets.
I've been keeping a spending diary and making notes of any NSD, for instance, but I'm not sure how to budget at all - any tips?