DMP Mutual Support Thread - Part 7

ianmak

MRS_A wrote: »

Morning all!

Has anyone got any experience of being on a DMP with CCCS and then making F&F offers to some of your creditors?

Was this allowed or did CCCS say you could't do it?

I've just had a letter from Welcome to say they're refunding my PPI payments and after the arrears I will have a bit left over so I thought I might make some F&F offers to my lowest creditors.

Any advice anyone please?

CCCS or PP don't recommend it, particularly if it's just to one creditor, as that could show preferential treatment.

Personally I have done it. I owed £140 to HFC (After they added quite a bit in interest and charges), they offered me a settlement of £70 with 'Partially satisfied' next to the default. Which I accepted. PP were very twitchy about me doing this, because of the above but I did it anyway and hope the creditors didn't get upset!

ianmak

Twit_Head wrote: »

Never had any probs. Cook a huge vat of spag.bol or whatever and eat some, freeze some. That way you've always got a ready supply of cheap, enonomically cooked grub.

'Twitty'

I've found that cooking in bulk has made a huge difference, as has buying from butchers. There's a butchers in the countryside near me, they do 2.5kg of decent beef mince for £9. They bag it up without asking into 500g bags so you can freeze them and use as required. Certainly cheaper and a lot nicer than buying from the supermarket!

MRS_A_3

Thanks ian re the F&F offers.

I'm still learning about all this DMP stuff!

I should end up with a bit under £1000 from Welcome so thought I could get rid of some of the smaller creditors. I'm also bothered about how it would look if I've got a small sum stashed away as well.

OH came home and suggested I save the money and when I've paid off 1/2 of my car hp I could do a VT and get a cheap run-about.

This would then free up another £220 a month so I'm confused now.

I'm going to try claiming back PPI from the bank. This is for a loan which was paid off last year so i shall hang on a bit I think.

Hopelessly_Hopeful

MRS_A wrote: »

Thanks ian re the F&F offers.

I'm still learning about all this DMP stuff!

I should end up with a bit under £1000 from Welcome so thought I could get rid of some of the smaller creditors. I'm also bothered about how it would look if I've got a small sum stashed away as well.

OH came home and suggested I save the money and when I've paid off 1/2 of my car hp I could do a VT and get a cheap run-about.

This would then free up another £220 a month so I'm confused now.

I'm going to try claiming back PPI from the bank. This is for a loan which was paid off last year so i shall hang on a bit I think.

If you are going to go for F&F I'd suggest getting in there ASAP befor DMP really kicks in, less attention from the others then. You wouldn't want to have agreements in place and then for them to pull them all. Otherwise emergency fund sounds good. I was completely wiped out after car gremlins and I was proper freaked out about zilch reserve and no cc to rely on. I need my car to work so was a huge concern for me. Planned to stash away asap but wasn't going to be easy. Work overpaid me so they have agreed to take back in installments, this means I have an emergency fund in a savings account. The overall balance is the same but it is a huge piece of mind to have the breathing space and I'm keeping my fingers crossed I will not need to touch it. Well done on the ppi and good luck with the next.

HHx

MRS_A_3

Thanks for the advice Hope.

Blooming typical isn't it that i get this now after I've just set up my DMP lol.

Never mind, i think saving it for another car is the best idea really ( not that I would admit that to DH ), but knowing my luck something large will need replacing in the mean time.

Hopelessly_Hopeful

I have just heard back from MBNA re my appeal to get them to stop interest (they had agreed to reduce to 9.9). It's a no go. They agreed to stop fees but not stop interest altogether. Reason, my payments are over 2% of the balance. I had the same with Hellifax. Isn't it crazy that they have to let you hit the wall before they will stop?!!!!!! Still 9.9 better than 30 so onwards and upwards and all that. Egg, Hellifax and Barclay card have one of the M&S accounts haven't bothered to respond at all.

HHx

MRS_A_3

Oh dear I owe money to Halifax as well That' something to look forward to then lol.

scouselad1974

It makes you scared to up your payments doesn't it. It may be better to pay less over a longer period :cool: although I would love to pay everything back ASAP

ex-rayday

Quick bit of help required, just got home from a nice freebie day out to a letter from Credit Security Limited threatening CCJ and debt collector. Apparently they are working for Lloyds (current account) annoying as 2 Lloyds credit cards have accepted payment and we are 5 years down the line of a DMP.

I will send them copies of the letters that I sent Lloyds etc, but has anyone heard of these people before or has anyone with a Lloyds account had them passed onto this, the letter doesn't give any scope for negotiation just pay £900 now please, without the please!

Thanks for your time

Ellieseleven

Whilst waiting for my DMP to be set up, I seem to have a daily panic about something or other and today is no exception:eek:

The payment to CCCS is only going to be £326 per month but my contractual payments amount to around £1100 per month - will this be enough for the creditors to start with or is it going to cause me more problems? Any advice or experience gratefully accepted.

You are all my saviours at the moment and help me to calm down when I get myself worked up:o

Thank you
Ellie :T