Omg should I do this???

unsuremom

Hi, i have been umming and ahhing over doin a dmp over the last few months and yesterday I contacted payplan and have an interview with them today at 2.
Basically I have approx £33K of unsecured debts made up fro 2 loans with santander, 3 od with santander 2 x barclaycards mbna and 2 store cards. I spoke with others on the DFW site who advised me to try to sell things etc and quidco and use the funds to repay bits and benefit from the snowball calculator before plunging into a dmp. I have tried to do this and in fact my dh and I have made £400 from carboots, £150 from ebay and I have £96 in quidco (although have not received all of this as yet) the issue has been that although we have had this extra money we have had emergencies happen and so we have still not paid anything off (both cars broke down and basically used all of the money we made).
I have been off work with anxiety and panic attacks due to our financial issues and am finding that this is not easing as I am constantly worryin how I will make ends meet and makin sure i dont miss a mortgage payment.
In the end DH saw how ill it was making me and suggested we bite the bullet and look into a DMP.
Today I have opened another account with Co-op and as i said at the start of this post, I have an interview with Payplan tomorrow. I am worried however as I do not know what to expect over the coming weeks. Could I get ccjs??, is it straight forward? will I ever get credit again (not that I necessarily want it)?

Another thing worrying me is that i work for santander could they refuse a dmp and take the money straight from my wages. I am so confused and still dont know if by doing this could I make my situation worse.

Please can anyone advise :undecided

king100

unsuremom wrote: »

Hi, i have been umming and ahhing over doin a dmp over the last few months and yesterday I contacted payplan and have an interview with them today at 2.
Basically I have approx £33K of unsecured debts made up fro 2 loans with santander, 3 od with santander 2 x barclaycards mbna and 2 store cards. I spoke with others on the DFW site who advised me to try to sell things etc and quidco and use the funds to repay bits and benefit from the snowball calculator before plunging into a dmp. I have tried to do this and in fact my dh and I have made £400 from carboots, £150 from ebay and I have £96 in quidco (although have not received all of this as yet) the issue has been that although we have had this extra money we have had emergencies happen and so we have still not paid anything off (both cars broke down and basically used all of the money we made).
I have been off work with anxiety and panic attacks due to our financial issues and am finding that this is not easing as I am constantly worryin how I will make ends meet and makin sure i dont miss a mortgage payment.
In the end DH saw how ill it was making me and suggested we bite the bullet and look into a DMP.
Today I have opened another account with Co-op and as i said at the start of this post, I have an interview with Payplan tomorrow. I am worried however as I do not know what to expect over the coming weeks. Could I get ccjs??, is it straight forward? will I ever get credit again (not that I necessarily want it)?

Another thing worrying me is that i work for santander could they refuse a dmp and take the money straight from my wages. I am so confused and still dont know if by doing this could I make my situation worse.

Please can anyone advise :undecided

Can you please advise the details of these unsecured loans and credit cards?

When account was opened?

Have you SARd each account?

Tixy

Hi

Could I get ccjs??

Its possible on a DMP that you could get CCJs (though not that common) but if you can't make your payments anyway and get into arrears then you could get CCJs if you don't go on a DMP.

is it straight forward?
It often is, it usually takes a couple of months to set up and get you up and running and you may get a bit of hassle from creditors to start with but if you just pass everything onto payplan it usually settles down. In your case you may have an issue with the fact that you work for your creditor - make sure that Payplan know that early on and ask for their advice on how to proceed or even whether to proceed.

will I ever get credit again (not that I necessarily want it)?
Yes, you would not be 'blacklisted' for life. Your credit rating will be affected for 6years or so from when you start your DMP. Once you have completed the DMP you can then start to improve your credit file and in the future applicatons for credit, mortgages whatever would not be affected by the fact you had once been in a DMP.

king100

Tixy

Surely OP might as well see if any debts are actually enforecable and valid first, if not can write some of them off.

goingforward_3

Ok i have just started on a DMP with CCCS... yes we will probably gets some ccj's and wont get credit but i dont want it.

I first looked into a DMP in feb 2009.. but my husband was convinced it was a bad idea... so for 18 mths we struggled on robbing peter to pay paul and basically paid about £20k in total to our creditors but took maybe £3k off the total we owed..had we done the DMP when i wanted that £20k would have come off the total amount we owe. He now conceeds i was right (well arent women always lol ).

Most of our creditors have been ok... the biggests ones (mbna, northern rock & mint) have agreed to free interest, the only ones that havent accepted our reduced payment is Tesco.

We actually now have more money per month than we have for a long time.. we get to put money away for car tax, insurance etc etc and its been a long long time since we had a decent amount to go food shopping with.

The first few weeks were hard, constant phone calls, letters etc but they seem to have tailed off now.. DMP's arent right for everyone but it is for us.

king100

goingforward wrote: »

Ok i have just started on a DMP with CCCS... yes we will probably gets some ccj's and wont get credit but i dont want it.

I first looked into a DMP in feb 2009.. but my husband was convinced it was a bad idea... so for 18 mths we struggled on robbing peter to pay paul and basically paid about £20k in total to our creditors but took maybe £3k off the total we owed..had we done the DMP when i wanted that £20k would have come off the total amount we owe. He now conceeds i was right (well arent women always lol ).

Most of our creditors have been ok... the biggests ones (mbna, northern rock & mint) have agreed to free interest, the only ones that havent accepted our reduced payment is Tesco.

We actually now have more money per month than we have for a long time.. we get to put money away for car tax, insurance etc etc and its been a long long time since we had a decent amount to go food shopping with.

The first few weeks were hard, constant phone calls, letters etc but they seem to have tailed off now.. DMP's arent right for everyone but it is for us.

May I ask if you have checked if these credit agreements are actually valid?

Tixy

king100 wrote: »

Tixy

Surely OP might as well see if any debts are actually enforecable and valid first, if not can write some of them off.

Yeah, makes sense - although perhaps not the santander loans in view of the employment. And also I guess it would be worth looking what bank the store cards are under, they could also be santander, a lot seem to be these days.

goingforward_3

king100 wrote: »

May I ask if you have checked if these credit agreements are actually valid?

Valid or not we spent the money so we are going to pay back every penny.

Its entirely possibly that some arent Valid... the Mint one i definately think something is suspect because they keep asking me for a copy of our signature (we havent given it to them!) but they never forced us to spend on the credit card so morally i think we should pay it all back.

saltnvinegar

goingforward wrote: »

Valid or not we spent the money so we are going to pay back every penny.

Its entirely possibly that some arent Valid... the Mint one i definately think something is suspect because they keep asking me for a copy of our signature (we havent given it to them!) but they never forced us to spend on the credit card so morally i think we should pay it all back.

I completely share your sentiments on this, and am doing the same.

At the same time I don't have a problem with anyone using UE. The banks and credit industry have for years exploited loopholes in the legal system so a little bit of their own medicine I think is deserved.

However, keep the CCA card up your sleeve. If one of your creditors decides to get awkward it may be a good card to play to help you get some leverage to agreement to your DMP.

Best

SnV

king100

goingforward wrote: »

Valid or not we spent the money so we are going to pay back every penny.

Its entirely possibly that some arent Valid... the Mint one i definately think something is suspect because they keep asking me for a copy of our signature (we havent given it to them!) but they never forced us to spend on the credit card so morally i think we should pay it all back.

I understand your views and respect that, but what morals do they have when they charge you for missing a DD or over you crdit limit, they woundent hesitate to charge you.

Are their any charges associated to the credit cards as these can still be requested to be charged back?

Is there any PPI on the loans as this can be charged back?

If you could write of the majority of your debts because they didnt adhere to the law, what is wrong with that?

I personally wouldent hesitate to use the CCA. I took both Natwest and Lloyds to court got back £1600 in bank cvharges and £700 on credit card charges.

After Lloyds at the mo for false info on credit file, they can be fined for each incorrect detail and so far I have found in excess of 20 wrong entrys.

I have no issues at all going after banks, dont forget why we are in a recession?

goingforward_3

I dont think there is anything wrong in it.

But its not for me... we were the idiots that took the credit out in the first place and we were happy enough to spend it i just feel we have a moral obligation to pay it all back.. and whilst the creditors are happy to freeze interest then i am happy to continue paying. If however they decide to play dirty then i may well look into whether the debts are enforcable or not.

Just because we may not have signed the credit agreement (i have no idea if we did or not tbh) it doesnt sit right with me that i shouldnt pay back what i owe... but i wouldnt berate others for doing so and who knows i may well change my mind over the coming months/years.

We have never taken out any PPI and there are very few charges for late payment (up until very recently we were managing to make payments on time).

Like i said MINT are desperate to get hold of my husband signature.. every time we have contacted them by letter and digitally signed it they have come back and said they wont act on it unless its hand signed and twice they have sent a letter asking him to sign in the box .