DMP Mutual Support Thread - Part 7

sunfleur

bomechina wrote: »

:hello: Just thought I should introduce myself as I may be asking you lovely people for advice over the next few years.
I have been making token payments to all my creditors and have just worked out my figures to set up my own DMP.
The letters are all printed, awaiting stamps (NSD today so will get them tomorrow).
Working through the figures, if every creditor freezes interest, its gonna take me 13 years to clear my debts :eek:.
I owe a total of £8400, so I was shocked at the length of time its going to take.
I don't have a lot of money to throw at these debts atm, but as soon as I have, I will.
The main reason for my post, I suppose, is just to share with people who understand how soul destroying this can feel .
I feel like I'm going thru so many emotions in a short space of time but, the main feeling is one of dread.
Sorry if I sound like a whinge, I'm just having a bad day, and needed to let it out.

Hi bomechina

You've come to the right place! Take a moment and just breathe..... Now you are taking in oxygen welcome! I have only been here a few weeks and I feel right at home. You are with people who have been there, done that, got the T-shirt AND have settled down with a good book. I am at the 'I'm there with you' stage and a fairly new one at that LOL

You are doing great too setting up your own DMP (I'm with CCCS). It takes a lot more effort to do that and to stay on top of things so well done:T The 13 years will soon come down to less years as you add to your total pay-outs over the next couple of years I am sure (I'm hoping mine will too). At the moment it's just a number and another number in years but it will mean something as one figure goes up and the other goes down.

The other thing? You are not a whinge and you can come and join us here to let it all hang out... (well maybe not EVERYTHING LOL - some of us are prudish..) The main thing is to know that things will get better now you have your foot on the first rung of the ladder. None of us can get any lower than we are now so onward and upward.

My favourite saying is 'don't let them mess with your head space'! You are a human being and you have feelings and you will get used to the silly letters creditors send to you - just words. You have a plan, stick to it and get lots of advice from these boards and the lovely people on this thread. I hope you sleep better tonight bomechina:D

sunfleur

Thought I would let you all know what happened with regard to Big Toe telephone company! I think I mentioned that we had moved from them - although we are still 'with' them under plusnet.... But when I was jolly enough to ring them to tell them that I had cancelled our direct debit with them, as by then we would be under our new provider for the main phone (we are already with plusnet for broadband) the guy was bolshy saying they could offer us less phone rental etc etc and asking why I was cancelling, that I would have to pay for cancellation and pay an amount for cancelling the DD - a total of £41!! He asked why I was moving - I told him non of your business and wasn't he pleased that we are actually still with them albeit under a different part of the company - he said 'but it's a different company' - duh I recorded the call and it was beeping in his ear every 15 seconds too LOL

Today we got our final bill from Big Toe and..... we are getting a refund for £40. HA I had really just about had enough of their little antics over the last 20 years we have been with them and I can NEVER understand their telephone bills at all. We had just had the bill a month ago so I knew we had just paid three months in advance and we would get a refund so result. I was really fed-up of being lied to when I telephoned them too

So far it has been so easy with PNet and we can read our bills online and see exactly how much we will have to pay - we have anytime calls and it is so much cheaper with them - saved £20 a month. Everything is done monthly and no quarterly bills. We did have DD monthly with Big Toe but then they tried to squeeze as much out of us as they could when the quarterly bill came too. By then you usually can't remember which calls were made under 40p and these calls are never itemised. I can see everything now though. So £40 more towards DH car repairs....

newbeginning_2

Loubylou2 wrote: »

Still hoping somebody could help out with advice about the signatory issue.

Thanks everyone.:)

If you're only a signatory for the bank account I'm pretty sure the bank wouldn't be allowed to touch that money for your debts as you're only allowed to use the account to act in your mums (think you said mum, apologies if not) interests, think it would just be if it were a joint account there's a problem.

Twit_Head

Back now from 'Mother sitting' and feeling lots stronger after my recent wobble. Thanks to sunfleur, and TF as ever for your support:)

Thanks also to ex-rayday for your message. So does that mean if it looks like I won't be able to clear my DMP within the 10 years allowed with CCCS, I could take over the running of it myself? My living costs are pared right down and positively frugal, but I would rather live like this for a few more years to get it paid back than go down the bankcruptcy route. Would be grateful for some advice.

'Twitty'

Twit_Head

sunfleur wrote: »

Hi bomechina

You've come to the right place! Take a moment and just breathe..... Now you are taking in oxygen welcome! I have only been here a few weeks and I feel right at home. You are with people who have been there, done that, got the T-shirt AND have settled down with a good book. I am at the 'I'm there with you' stage and a fairly new one at that LOL

Oh dear sunfleur, this first part of your long message had me :rotfl:

As you know from my recent posts I've been 'all shook up' again lately (even I've though been chugging on month after month relatively smoothly.)
But as you say it's a case of 'come on in, you're all welcome here.'
A warm welcome to all newbies, trust that you too find the support and help you need here.

'Twitty'

pure_dead_dopey

Guys, if you are all just starting on a DMP and have so far never missed a payment, I would definitely send token payments (£1) for a couple of months. This lets you build up a wee emergency fund and lets you get priority debts sorted out. It will MAKE NO DIFFERENCE to how the banks treat you, trust me, but you will have a bit of money for those emergencies that do crop up. I know its hard if you've never missed before but you have to look after you and yours first, creditors come way down the list. Twitty I still think a quick look at UE for you would do no harm and might save a lot of money in the long run, PM me if you need Nid's new website.

Twit_Head

You've been very quiet recently Ian. Smoke got in your eyes? Still overhung? Bad tummy from part raw barbequed sausages?
Hope all is well with you. I've missed you insulting me recently.

(And if you say you can't get a word in edgeways surrounded by all these women, I'll clock you!)

'Twitty'

newbeginning_2

Twit_Head wrote: »

Back now from 'Mother sitting' and feeling lots stronger after my recent wobble. Thanks to sunfleur, and TF as ever for your support:)

Thanks also to ex-rayday for your message. So does that mean if it looks like I won't be able to clear my DMP within the 10 years allowed with CCCS, I could take over the running of it myself? My living costs are pared right down and positively frugal, but I would rather live like this for a few more years to get it paid back than go down the bankcruptcy route. Would be grateful for some advice.

'Twitty'

Pretty sure you would be able to run it yourself if CCCS won't go with you any longer than 10 yrs, as a DMP is like an unofficial agreement with you and bank (can't think of a better way to phrase that!) and after all I'm sure if I'd have carried on with minimum payments on my cards it would have taken me more than 10 years :eek:

yellowpinky

Hi everyone, hope you are all ok. Welcome newbies starting out, hope it's all going ok for you, it seems like a lot to have to do and sort out at the beginning. Tweetiepickle, what a great first post on here, I remember those days, I can't believe it's a year ago now. I did all the shifting cash about, paying minimum payments on cards then taking it all straight back out again, yep! I took out so much cash on my cards, at horrendous interest rates. It was only when I reached the cash limit that they set you that it all started to fall apart, and at least now I can see that was probably a good thing. The best of luck to you with your DMP.

the_tooth_fairy wrote: »

Hi everyone, called Payplan as we got an online reminder to have our first annual review!!

Good luck with the review TTF , I've got mine on Tuesday. I've just had a pay rise (and will probably be my last for a good while!) so that's something to bunk up the payments anyway. Nothing much else has changed. I'll be glad when it's out of the way though really, I never like talking to PP over the phone, I get all nervous!

Twitty, sorry you felt so down after yours, it sounds like a good suggestion to go it alone later on. I wonder why they didn't tell you at the beginning though, about DMP's limited to ten years, and giving all that gloom and doom? You've made brilliant progress, with the job upgrade and knocking five years off your DFD. You're making steps forward and the total is coming down, that's so satisfying to see, keep at it! :A

Not much to report aside from Gothia rejecting my first F & F offer of 30% so I've gone in with a counter offer of 35% - it's going to be a long running saga this. And HSBC still being really annoying!!

YPx

chris00_2

BrianTheSnail wrote: »

Right now I am thinking practically ... I get paid at the end of the month but have no cash until then - My normal action would be to use the CC for supermarket shopping and I have CC`s with credit but if I use that e.g. for food shopping will that be frowned upon.. went to Tesco on Saturday then sent a letter Monday saying sorry - couldn`t afford to pay!
I am half tempted to stock up ! I am also tempted to go out and buy myself something nice - just so I can say -"look this is what I got for £35k!"
Seriously, should I spend what I need - say £60 to last us (me and daughter) till pay day or not risk upsetting the CC people?

Anyone have any experience or views?
Brian

Hi,

I dont know whether this has been answered already but im new here so please let me off.

I have had some issues with a balance transfer that I did a couple of weeks ago. I moved a balance from one CC to another to try and alleviate the financial issues but then realised I really needed to do more and signed up for a DMP.

Ive been told by Payplan (although I eventually chose CCCS) that the company that I moved the balance to would most likely refuse to drop the interest etc because of this and at worst would say I had committed fraud as I borrowed money I knew I couldnt afford to pay back !

Worth bearing in mind

Chris