DMP Mutual Support Thread - Part 7

the_tooth_fairy

ald65 wrote: »

Three years ago we had our LBM . I remember the dreadful sleepless nights , panic and misery that we went through thinking 'how did we get to this' and 'will we lose the house'
We then started our DMP with Payplan and sleep /peace of mind slowly returned!

We are now halfway there and our lives have turned around, it hasn't always been easy and we have had to make some hard decisions along the journey, however our lives have returned to normal , we are happier and we no longer think of debt every minute of the day.


I just wanted to say that life can get better and I wish all the best to those starting out on their DMP

Thanks for sharing that Ald, sorry everyone I haven't been on for a while. I found the whole year review thing with PP quite nerve wracking, and when it was over I just wanted to enjoy my short break from work.
Our 12th payment to Payplan went on Friday, I can't believe it! Just to echo Ald's words, things really do settle down, although it is hard at the start. I'm sure I've said earlier, when I'm feeling a bit down about it all, I think about all the money I've saved in interest this past year. Cash we may as well have thrown on the fire!:eek:
Hope everyone is well,
ttfx

monwind

:j Our DMP starts on 1/10/10 :T

I am so pleased to be getting a grip of things but at the same time I am a bit :eek: worried about what's next. It took us a few months to realise that we could not juggle our finances any more and thank goodness for the CCCS. I have been reading through this thread and have found the support you give each other inspiring and I hope to be able to get back on and have a read and a rant if the pressure gets too much. I hope to give support aswell even though I am a newby

Can I have a number please ? Thanks. Monwind

Ellieseleven

monwind wrote: »

:j Our DMP starts on 1/10/10 :T

I am so pleased to be getting a grip of things but at the same time I am a bit :eek: worried about what's next. It took us a few months to realise that we could not juggle our finances any more and thank goodness for the CCCS. I have been reading through this thread and have found the support you give each other inspiring and I hope to be able to get back on and have a read and a rant if the pressure gets too much. I hope to give support aswell even though I am a newby

Can I have a number please ? Thanks. Monwind

Hi Monwind, I am a little in front of you as our first payment went to CCCS on 1st September but know what you mean about being worried about the next step. We have found that the phones have stopped ringing constantly and we are not getting as many letters. It all feels very strange at the moment and I'm not sure what to expect next. Most of our creditors have said that our payments are not enough but that they will freeze the interest, so I suppose that the next thing will be that they default us.

I have found that I am no longer in a state of constant panic and worrying how I can find the next CC payment which again feels very strange as I have done this for so long. We also have money to pay for everyday things which was a real struggle before as every penny we had went towards debt leaving us with very little to live on.

Ellie xx

ianmak

I've just this second had my second annual review with PayPlan!!! It only occured to me that I've already been on a DMP for two years! And through a few adjustments (and getting rid of my car), I've managed to increase my payments by 10%, which should hopefully keep the creditors happy.

boot13t

Hello,

Well I have to admit I was stupid in thinking I could hide from a debt from 1998. Took a loan out and struggled to make payments 14 month into a 5 year plan, therefore, ending up going a debt management agency (Debtbusters) in 2000. They were basically rubbish so I arranged my own from 2001 until 2003 but moved house 4 times in that period but did not update my details with the creditors. I had a few difficult months and lowered my payments without informing them which became my regular payment amount. In the past 7 years I have received no correspondence from the creditor (nor did I attempted to contact them) until I received a letter from Debt Managers Ltd. Spoke to them earlier and the creditor has passed over the debt.

I am currently on DMP with Payplan following redundancy and excessive spending but the above was not included. What a fool!! Hopefully Payplan can reconfigure this debt into my repayment plan but the representative from DML was adamant that they require two payments of several thousand immediately.

Has anyone had similar experience or pointers on what to do? Any feedback would be appreciated.

Cheers

dmb_2

ianmak wrote: »

I've just this second had my second annual review with PayPlan!!! It only occured to me that I've already been on a DMP for two years! And through a few adjustments (and getting rid of my car), I've managed to increase my payments by 10%, which should hopefully keep the creditors happy.

Well done you! How do you manage without a car? Was that a major sacrifice or not? Very good for the environment though - not to mention your DMP. :beer:

ianmak

dmb wrote: »

Well done you! How do you manage without a car? Was that a major sacrifice or not? Very good for the environment though - not to mention your DMP. :beer:

Thanks. Well I commute to London by train every day, which costs over 3 grand(!) a year. I hardly used the car and begrudged paying for any repairs, let alone all the other costs involved. So I use the train when I need to go anywhere further than walking distance, and shop locally for food etc.

It's good for the environment, DMP, and my health!

ianmak

Two newbies, apologies if I've missed anyone out who requested one recently. The list is on page 17 of this thread if anyone is interested.

tweetiepickle 400
drusilla 401

http://forums.moneysavingexpert.com/showpost.html?p=34893659&postcount=333

Twit_Head

I've just this second had my second annual review with PayPlan!!! It only occured to me that I've already been on a DMP for two years! And through a few adjustments (and getting rid of my car), I've managed to increase my payments by 10%, which should hopefully keep the creditors happy.

ianmak wrote: »

Thanks. Well I commute to London by train every day, which costs over 3 grand(!) a year. I hardly used the car and begrudged paying for any repairs, let alone all the other costs involved. So I use the train when I need to go anywhere further than walking distance, and shop locally for food etc.

It's good for the environment, DMP, and my health!

Trying to be a bit techie here and incorporate 2 quotes in 1 message! Apologies if everything has gone bottoms up
So VERY pleased for you ian - just 2 years in and 10% up :beer: and you've gone green.
Well done you - do you see the £'s decreasing before your very eyes??? Hope your debt free future is with you sooner than later.

As to travel trains are brill -apart from commuting! Three grand? (Hope you get a seat, shares in future rail development and a piece of the 'Mallard' for that!) But where else can you avoid mile long jams, read or relax and just watch the world pass by?

I'm just back from another Travelodge junket so feeling very relaxed and laid back. OMG - unless I get one of those letters from H.M. Tax Office

Really pleased your DMP is going so well for you. Thanks as always for your help and advice.

'Twitty'

Twit_Head

boot13t wrote: »

Hello,

I am currently on DMP with Payplan following redundancy and excessive spending but the above was not included. What a fool!! Hopefully Payplan can reconfigure this debt into my repayment plan but the representative from DML was adamant that they require two payments of several thousand immediately.

Has anyone had similar experience or pointers on what to do? Any feedback would be appreciated.

Cheers

Hiya Boot
Sorry to hear of your woes
I think you need to speak to PayPlan and re-jug your figures to include ALL of your debts. The aim of a DMP is to get a budget you can live on but repay what you can afford to your creditors.
The demands for more money seems like scare tactics to put the frighteners on you.
Speak to PayPlan and explain your situation. But be prepared for the long, hard but satisfying slog as you see your debt decrease.

'Twitty'