DMP Mutual Support Thread - Part 7

Twit_Head

Well, I've finally got round to updating my signature after my recent job upgrade/pay rise.
Good news and bad - after a year my total debt is now finally decreasing (even though I still have interest added by one creditor.)
Unfortunately due to unavoidable larger household costs (Council tax etc) I could only increase my DMP payment by a small amount. However, this is the 2nd time I've upped the payment, so my DFD has gone from the original 19 to 14 years. And at last I have an 'entertainment' budget (of £2-00 per month-swoon!) :j
Bad news is I wasn't told at start that DMPs only run for max of 10 years usually (mine was a 'low-start' one.) I will be reviewed in another 12 months and if it looks like I won't be able to complete my DMP in the remaining 8 years from start I may have to look at other options - possibly bankruptcy.

Still trying to remain positive though. I retained the mortgage payments at the same amount when interest rates fell. Hopefuly that will be paid off in time to release the extra funds to the DMP.

Must admit feeling a bit shocked and unsettled by all of this. I was (and am) prepared just to keep plugging on till the end to repay what I owe.

Not going to be beaten though. Everything is nicely settled on my DMP and I will get it cleared in 10 years one way or another!
Can you buy second hand begging bowls on e-Bay?

'Twitty'

pure_dead_dopey

Hi twitty I had a similar unsettling experience at my review, I know its sometimes a nono but have you considered UE, if your debts are iolder, it may be worth a punt?

MadamMim2013

Have finally sent off all the paperwork to CCCS and now await our "welcome pack"... ;)
Natwest Credit Card sent me a letter today thanking me for informing them of my financial difficulties and giving me a list of all the relevant information the CCCS would need!!! I was shocked at how polite they were?!?! :eek:It did also mention that the account would soon be defaulted and closed but that info would be sent in a seperate letter??
Not sure if I'm looking forward to that one:(

garbaldisham

Twit_Head wrote: »

Welcome and yes you are in the right place
I have changed both my car and buildings/content insurance recently. Like yourself I was worried that getting a better deal would be dead in the water because of the DMP.
But no problems at all
Now got a much better deal on both, paying by monthly direct debit. The company I was with previously even asked me to reconsider my decision to leave as they 'valued my business.'
Go for it - you could save extra money towards the DMP .

'Twitty'

:beer:That's brilliant - thanks very much for putting my mind at rest. Like I guess most of us on here, I dread the feeling that there'll be a sudden "Oh. Wait a minute..." bit on the phone when setting stuff up.

Twit_Head

pure_dead_dopey wrote: »

Hi twitty I had a similar unsettling experience at my review, I know its sometimes a nono but have you considered UE, if your debts are iolder, it may be worth a punt?

Is that a typo? Did you mean unenforceable debt?
Yea had considered it, cos it would apply to the largest repayment of my DMP but it seemed a bit of a long shot and I didn't want to upset the apple-cart too much
Was feeling a bit down but thankyou for your message. Can't do anything this weekend because off soon to help my very elderly mother who lives some distance away.
Hope to return fighting fit, so thanks again for your advice and support :A

'Twitty'

Twit_Head

garbaldisham wrote: »

:beer:That's brilliant - thanks very much for putting my mind at rest. Like I guess most of us on here, I dread the feeling that there'll be a sudden "Oh. Wait a minute..." bit on the phone when setting stuff up.

I was happy to help and hope you too have a positive response!

'Twitty'

Twit_Head

:wave:Hello to all,
Do you know what I love about this thread and our little support group?
I was verging on the brink of self-pity , and yet very recently one member has given me advice and yet another has thanked me for my advice to them.
It's a tough learning curve for us all but thank goodness there is a 'safe' place here where we can sound off or admit to our fears if we need to. And there is always someone to advise or support us as needed.
You're all brill :grouphug:

'Twitty'

ex-rayday

Twit_Head wrote: »

Bad news is I wasn't told at start that DMPs only run for max of 10 years usually (mine was a 'low-start' one.) I will be reviewed in another 12 months and if it looks like I won't be able to complete my DMP in the remaining 8 years from start I may have to look at other options - possibly bankruptcy.

I wouldn't worry about it, you could always take over running your own DMP rather than the bankrupcy option. Just an idea for further down the line.

tweetiepickle

Hi everyone
Well after lurking for a while, to-oing and fro-oing between an iva and a dmp I have made my decision and gone for a dmp.
I contacted National DebtLine who were fab, have sent off my letters with the token payments and I am now in the process of doing my SOA to send off to NDL who are going to refer me to Payplan or CCS.

I have hidden my head in the sand for too long, but you can't hide in your dreams or at midnight when waking up in a cold sweat and that horrid feeling of desperation. Nor can you block your thoughts quickly enough when first waking up and that sickening tide of dread washes over you.
The phone becomes an object of hatred and the post is treated as though its radioactive.

But now I sleep a lot better....I will get myself out of this mess, one of my own making.......how on earth did I get here with nearly 50 grand worth of debt and sod all to show for it.

but I am not going to dwell on what could have/should have been ..look to the future and onward and upwards.

My LBM was when I tried to do my usual take cash out on creditcards then pay it in...suddenly I was there:( refused as I was overlimit...and the interest alone each month was £250.
All I had been doing was shuffling money all over the place, robbing Peter to pay Paul....I spent lunch hours in front of the quick self service till paying cash in on one card taking it out on another and using that to pay another card.

Sorry for the long post but this is such a welcoming place

Just a quick question............my dad wants me to be a signatory on his bank account as he is disabled, thing is his bank is my old bank which I owe a lot to (I have since changed to co-op cashminder).
Can the bank use the set off rule and plunder my dads bank account to pay my debts even if I am just signatory on his account?.

Any help would be very gratefully received

Thanks

TP

sunfleur

Twit_Head wrote: »

Well, I've finally got round to updating my signature after my recent job upgrade/pay rise.
Good news and bad - after a year my total debt is now finally decreasing (even though I still have interest added by one creditor.)
Unfortunately due to unavoidable larger household costs (Council tax etc) I could only increase my DMP payment by a small amount. However, this is the 2nd time I've upped the payment, so my DFD has gone from the original 19 to 14 years. And at last I have an 'entertainment' budget (of £2-00 per month-swoon!) :j
Bad news is I wasn't told at start that DMPs only run for max of 10 years usually (mine was a 'low-start' one.) I will be reviewed in another 12 months and if it looks like I won't be able to complete my DMP in the remaining 8 years from start I may have to look at other options - possibly bankruptcy.

Still trying to remain positive though. I retained the mortgage payments at the same amount when interest rates fell. Hopefuly that will be paid off in time to release the extra funds to the DMP.

Must admit feeling a bit shocked and unsettled by all of this. I was (and am) prepared just to keep plugging on till the end to repay what I owe.

Not going to be beaten though. Everything is nicely settled on my DMP and I will get it cleared in 10 years one way or another!
Can you buy second hand begging bowls on e-Bay?

'Twitty'

((((((((((Twitty))))))))))) Well done on upping your payment twice AND coming down 5 years on the DMP. You WILL get there in 10 years (or less) and I don't know how they will be able to tell you won't after just two years... If you can come down 5 years in just one year then you will probably come down another lot next year if you can up the payments just a little more. Don't feel down about this as you are doing brilliantly and helping to keep the rest of us uplifted too. I know of other people who are continuing on DMPs and they are projected with more years than you!