DMP Mutual Support Thread - Part 7

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hitabrickwall wrote: »

Hi

I am new to this and have spoken to the CCCS about setting up a DMP. I am just waiting for H to take over the joint overdraft we have and get my name taken off and then I can get it all in motion. In the meantime I have sent token payments to my creditors (apart from natwest) and have sent letters explaining my situation.

I have cancelled all direct debits and the payments were due out last week. So far I have had a phonecall from Egg who were very good when I explained the situation and that they would give me 30 days grace. I have received an email from Cahoot saying they will pass my account over to their collections team in 30 days. I was expecting letter after letter and nasty phonecalls and so far its been ok.

Well done you and welcome to our support group. I've been on DMP since last December and majority of creditors have been fine and non-threatening. Some took longer than others to freeze or reduce interest but after 9 months all, - well, almost all (17 out of 18) have accepted DMP. Only one - HFC Bank who I think may be part of HSBC - is still playing silly !!!!!!s and whacking on interest, etc -.:mad:

Good luck and come and moan/share good news with us all on here.

sherry16

Hi All,

A few of you may remember that I originally sought some advice on DMPs on here back in May this year, I was waiting to start a DMP until my hubby had got a small loan that he required (he's not in debt).

Well now finally it looks like I'm in a position to apply for my DMP with CCCS - done my SOA and budget and it looks like if I start my plan by October I'll be debt free by Oct 2014 :j (if they will all freeze my interest that is!)

I've taken the first step today which is to apply for a Cashminder account which has been accepted, just need to wait for the paperwork to come through now and my DMP welcome pack and get on with letters to my creditors!

I have to admit that I'm terrified of being bombarded with phone calls and letters and court threats, but at the same time it's already a huge weight off my mind knowing I'm taking positive steps to solve my situation.

I'm due to have our first baby at the end October as well so that'll be a whole new challenge but at least I'll be on the road to Debt-free ville and not making it worse!!

One quick question - how many of you have been harassed by phone calls at work? This is what I'm dreading more than anything as noone at work knows my situation.

Thanks!

Lou xxx

jcorbygas

Hi to everybody who started their DMP yesterday (my money went out of my bank and is on its way to CCCS today).
Our DMP term is 90 months so 1 down 89 to go but it took 168 months (the date I first got a credit card) to get into this debt so perhaps 90 is not so bad!!
Still sorting out direct debits as new account only does standing orders so a bit tricky. Son was appalled that Sky had cut us off as I hadnt set up new dd but all sorted now.
I've unfortunately had to cash in our endowment a few years early in order that we can pay our business tax bill but it wasnt performing very well anyway and thats another £47 per month free.

Can I have a number please and good luck to everyone else starting out today on their DMP.

Jackie

Ellieseleven

Well done Jackie, I like the way you are counting down your payments - that's a good idea:)

Welcome Sherry16 - I know what you mean about phone calls, MBNA tried to ring at work so I logged onto my account on the internet and removed the number, fingers crossed that this works:o (I have done it for all the others as well:o:o)

sunfleur

jcorbygas wrote: »

Hi to everybody who started their DMP yesterday (my money went out of my bank and is on its way to CCCS today).
Our DMP term is 90 months so 1 down 89 to go but it took 168 months (the date I first got a credit card) to get into this debt so perhaps 90 is not so bad!!
Still sorting out direct debits as new account only does standing orders so a bit tricky. Son was appalled that Sky had cut us off as I hadnt set up new dd but all sorted now.
I've unfortunately had to cash in our endowment a few years early in order that we can pay our business tax bill but it wasnt performing very well anyway and thats another £47 per month free.

Can I have a number please and good luck to everyone else starting out today on their DMP.

Jackie

Hi jcorbygas

Feels good doesn't it? Our first payment to CCCS went out today too. 1 down 115 payments to go (or thereabouts LOL) :eek::T

We are all in it together. It's like two people starting school on the same day - financial school LOL

sunfleur

sherry16 wrote: »

Hi All,

A few of you may remember that I originally sought some advice on DMPs on here back in May this year, I was waiting to start a DMP until my hubby had got a small loan that he required (he's not in debt).

Well now finally it looks like I'm in a position to apply for my DMP with CCCS - done my SOA and budget and it looks like if I start my plan by October I'll be debt free by Oct 2014 :j (if they will all freeze my interest that is!)

I've taken the first step today which is to apply for a Cashminder account which has been accepted, just need to wait for the paperwork to come through now and my DMP welcome pack and get on with letters to my creditors!

I have to admit that I'm terrified of being bombarded with phone calls and letters and court threats, but at the same time it's already a huge weight off my mind knowing I'm taking positive steps to solve my situation.

I'm due to have our first baby at the end October as well so that'll be a whole new challenge but at least I'll be on the road to Debt-free ville and not making it worse!!

One quick question - how many of you have been harassed by phone calls at work? This is what I'm dreading more than anything as noone at work knows my situation.

Thanks!

Lou xxx

Welcome back - I'm newer but am well into the process after two months of sorting out now.

Glad you are at the stage where you can get going yourself on your dmp and congratulations on the imminent birth of your baby too.

Can't answer the harassment of phonecalls at work although from what I have read it seems to be the Debt Collection Agencies that try that one! So you are way off that happening just yet I would imagine.

You are taking control of the situation so the letters - which we are finding hilarious at times - shouldn't bother you. You don't have to talk to them on the phone if you don't feel confident - we haven't talked to one creditor - use caller ID and/or answer phone to deflect them. If it's a friend or family they will leave a message - you can usually work out who the creditors are quite easily. We went into our online account details and changed the phone number to zero or 01010 and we told them in a letter that communication would only be done in writing only. They are just words and as the mantra on these boards goes - they can't have what you don't have to give them. I am reading as much as possible on these forum threads and gleaning loads of tips, ideas and information on debt and finance.

So well done for tackling this and try to enjoy your pregnancy without worrying about money.:)

powerchimp

Last week sent a letter asking Mint to hold on the interest on a/c for 28 days to give me a chance to sort things out.

Had to phone them today, as I received a letter telling me that they couldn't do anything as I hadn't signed the letter:(

They were a bit stroppy, telling me that they can't do that, and as fro the 4th my account will be in arrears as I only paid a token payment.

They also say this would affect my credit rating :rotfl:. They wanted me to set up a cresit plan with them, so told them I was going on a DMP, they didn't sound to happy about that either.

Oh well; roll on September

On the signing of the letter; I put my name but I'm guessing this isn't classed as an electronic signature

Twit_Head

the_tooth_fairy wrote: »

Twit_Head wrote: »

Hear, hear, Twitty, If you can forgive one man then you can also forgive poor Ian, I am pleased that YOUR man has finally seen sense and realised what a muppet he was!! Treat him (slightly) mean, girl and keep him keen. My mother used to say that a girl should always marry a man who loved her a 'little bit' more than she loved him, then all would be well. I'm not sure about that (she came off with some real crackers!) but look after yourself, you have been through so much this last year, that you deserve a bit of TLC.
ttfx

Would sob into my tissues (if only I could afford them!) at your kind and supportive message TF.
He's not getting off lightly - we've been seeing each other on a 'friendly' basis for last 6 months, but I must admit I did miss the daft beggar when he wasn't around
You are right - life has been battering me on a lot of fronts. But I think it can be the same for us all.
I would say to all newbies don't stress too much about the start of your DMPs (difficult to do I know) but look to your 'real' life. Family, health and well-being are worthy of your concern and attention.
Thanks for all your support and being here TF. :A
And I've got this horrible picture in my mind of Ian after eating beans round his campfire (hey, it wasn't me who implied he was full of wind )

'Twitty'

Twit_Head

powerchimp wrote: »

Last week sent a letter asking Mint to hold on the interest on a/c for 28 days to give me a chance to sort things out.

Had to phone them today, as I received a letter telling me that they couldn't do anything as I hadn't signed the letter:(

They were a bit stroppy, telling me that they can't do that, and as fro the 4th my account will be in arrears as I only paid a token payment.

They also say this would affect my credit rating :rotfl:. They wanted me to set up a cresit plan with them, so told them I was going on a DMP, they didn't sound to happy about that either.

Oh well; roll on September

On the signing of the letter; I put my name but I'm guessing this isn't classed as an electronic signature

This all sounds like the 'intial squaring up to each other dance' at the start of a DMP. Stick to your guns. Your DMP will be set up and you will be making regular (if reduced payments) to them.
It's rarer than hens teeth to get through a DMP without some sort of impact on your credit rating. But do we care?
You were correct with the signing of the letter. Add your name any which way but DON'T sign using your usual signature.
Best wishes - in a few months this will all be down the line, and you'll have got the measure of it all.

'Twitty'

sunfleur

Twit_Head wrote: »

This all sounds like the 'intial squaring up to each other dance' at the start of a DMP. Stick to your guns. Your DMP will be set up and you will be making regular (if reduced payments) to them.
It's rarer than hens teeth to get through a DMP without some sort of impact on your credit rating. But do we care?
You were correct with the signing of the letter. Add your name any which way but DON'T sign using your usual signature.
Best wishes - in a few months this will all be down the line, and you'll have got the measure of it all.

'Twitty'

Twitty could you explain what difference a 'digital' signature and the real signature and a signature written in capitals etc makes? I get that some DCA's have forged people's signatures in the past but would the banks do that?