Anyone fancy a mutual support partner?

JoJo_Sparkly

Hello everyone - and an especially warm welcome to our new friends, I hope we can all find ways to help, support or just be a good sounding board to you all.

I'm having a really good day financially. Got a couple of Mystery Shop visits booked in and a surprise cheque in the post from one of the survey companies I fill in online. So off to a good start. I made up my mind that today I would deal with the ever growing pile of bills, bits and pieces and paper I've been meaning to get round to for an age.

Started with the bad news, I updated my totals on CCCS - sadly still being charged interest and fees by too many of them to allow my payments to make a dent. Then I thought I'd deal with the mortgage issues, so I sat down with a cup of tea and the telephone and made loads of calls. I missed one payment last year whilst on maternity leave and having been paying it off ever since - got 1 more payment to go and it's sorted. But it shows as arrears and most lenders weren't interested. Finally I rang the Halifax who are my curent providers, not expecting much from them as they've been next to useless so far (only reason I missed a payment was because I believed I could take a baby break - only to find out two months later that it didn't apply to my type of mortgage :mad: )
Spoke to a guy there who was really helpful, he went through the various mortgages available - I wanted a fixed term one and also costed out the price of changing to their standard variable rate - which mine reverts to next month. Anyway to cut a long story short He told me of a new mortgage they do that's a 5 year stepper - you pay a low rate for a year to 18 months then it goes up to a higher rate for the remainder of the fixed term. It meant a rate of just 1.99% for a year and 1/2 then moving to 6.89% next year - this was still lower than the variable they were quoting me (I'm not on commission honestly!!!!) But this made such sense to me as it would give me a chance to make real headway on my DMP payments - I could clear my secured loan and still be better off . I couldn't believe it - Of course there was a catch . Although I've got a good payment record up till last year the arrears barred me until I can show a clear payment record for 3 months. Instead I've gone for a tracker I can get out of without any penalty fees for the next 3 months and then am going for the stepper.

Fresh from this I played make believe with the payment calculator and if all goes according to plan and the payments go up by the mortgage saving my DMP would come down from a staggering 27 years to just 6!! OMG and that's not including any extra income chipping away at balances.

I know its still in the planning stage but for the first time ever I really felt that there is a light at the end of the DFW tunnel. I can't believe that a simple bit of ringing round could have got me this happy. Fingers crossed it all goes according to plan - and if nothing else I've sorted the mortgage to lower payments from today so I can add a little more to the DMP pot.

Going to do a bit of ebaying tomorrow and ride this wave while I'm on a high - Just got to get the car insurance down now. HYPNO - Definateley make calls early rather than later, I think it would have been so much less stressful had I got my act together earlier.

I Was a Fool - How long did it take for CCCS to come back to you with a budget review?

Skint Monkey - Haven't heard from you in a while - Hope you are ok and still feeling positive.

Onwards and upwards Everyone.

lots of love
JOJO

Newgirl_2

Hi everyone, thanks for the welcomes. :hello:

JoJo_Sparkly wrote:

Hi Newgirl

Have you just started DMP? - still thinking about it? Let us know if we can help out or just come and have a moan when it all gets too much.

Jojo

We have completed our on-line form with CCCS and are just about to check our final figures and submit contact details ready to receive the application form. Not sure if we get another chance to change anything on the paperwork so want to make sure everything adds up.

We are ok about the DMP but it will be weird being tied in for a time period. OH used to chopping and changing as needed and moving money around, this way you are in it for the long haul. Not too worried though... from what I've read on the forum, people had their best night's sleep after sorting this out.

Not sure what use I'll be but I'm happy to be a shoulder for anyone else too... I'm a good listener.

If anyone wants to contact me, feel free.

Newgirl

I_was_a_fool

JoJo, thats fantastic news :j :money: !!

Im really pleased for you, thats a great big lamp at the end of the tunnel!

CCCS have not got in touch for the budget review yet, I hope it is soon as the money will just burn a hole in my pocket unless I have it committed to the dmp!

Good luck with your dmp newgirl!

JoJo_Sparkly

Newgirl wrote:

Hi everyone, thanks for the welcomes. :hello:


We have completed our on-line form with CCCS and are just about to check our final figures and submit contact details ready to receive the application form. Not sure if we get another chance to change anything on the paperwork so want to make sure everything adds up.

Newgirl

Don't worry too much if you're out a bit - I've changed mine a few times since DMP started - and once you are up and running on the website you can go in and change balances etc for you creditors whenever you need to.

Jojo

I_was_a_fool

Hi all

Im a bit down just now on this roller coaster ride. MBNA brought out the big guns yesterday, got a very unpleasant call from them, a guy with an edge to his voice, wanting to know what I spent the money on, why I couldnt repay, if I had equity on my house. Said they wanted another £45 a month minimum, & asked for it immediately. Said no, sorry, havnt got it. Was unprepared as most creditors have been professional and polite so far....sigh. And RBS wrote and demanded another £19..sheesh have they not been paying attention, every spare penny they get already!

Put all my up to date balances into the CCCS website & found I am £1000 more in debt than when I started. I know Im still a lot better off than before the dmp (the cc payments sucked up all the money & more) , but I just feel Im going backwards!

Sorry guys, dont want to be negative, but I guess this journey can be thorny sometimes.

Sharon

hypno06

Jo Jo, well done on the mortgage front. I am so pleased that not only can you get something with a reasonable rate sorted, but that the implications for your long term financial freedom are so positive.

Keep hold of that positivity and make the appopriate steps immediately to put that money away otherwise it will get swallowed up in general "life" and you will get to the end of the 18 months with nothing to show for it!

Perhaps you should make some sort of statement about the reduction from a million years to just 7 years and put it on a cupboard door or something so that you can stay focused on how much of a difference these overpayments will make.

Fab news x

I was a fool - things often look worse before they look better. Take spring cleaning a cupboard for example, half way into the job and you wish you had never started - the whole room looks a mess as you sort piles, rubbish, etc whereas at the start of it the cupboard was the only thing looking a mess, and you could close the door on that and ignore it! But by persevering a little longer, the whole lot looks organised and you feel proud of your achievement. Maybe not the best comparison but it will have to do. Stick with it and the brighter days will follow - just take inspiration from JoJo's post above about her mortgage!

As you all know, I am snowballing not in DMP so things here are a little different, but I have been ebaying like mad this year and have managed to make overpayments to one of our credit cards of £500 ish so far! I updated my totals in my notebook (not techie enough for a spreadsheet) and seeing that £500 extra reduction gave me a lovely feeling which I want to have again!

Have a good day everyone and keep your spirits up!

tinytot143

Hiya everyone (and new comers)

Sorry not been on for a while. Been very tired and feeling sick and going to bed early so not getting on the computer at all!!!!!!!!!!!!!!!

I think that everything is ok with my dmp but there are still some creditors that are saying that they haven't heard anything from Payplan!!!!!

Hope everyone else is ok

Tracey x x x

JoJo_Sparkly

hypno06 wrote:

Perhaps you should make some sort of statement about the reduction from a million years to just 7 years and put it on a cupboard door or something so that you can stay focused on how much of a difference these overpayments will make.

Thanks Hypno - Great idea, will do that. I'm determined to make the most of this. Got the tracker set up already and now I'm working on ways to get the balances down with ebay and Mystery Shopping again. Definately came along at the right time as I was so cheesed off, after the cat and then the whole scrimping and saving bit, now I'm full of renewed vigour and am going for a pay rise at work too - in for a penny...

Tracey - I hope you're feeling better -I'd noticed you weren't around. Hopefully you're up and running again.

Sharon - Keep your chin up hun, My debt balance has gone up too on CCCS, I know it's tough going but I'm a great believer in positive action and the power of fate. And the support we give each other on this board really helps. Can you focus on one action to get done by next Friday?


Hope everyone else is doing well - for the newbies to the thread, I hope you are all coping OK and not being harrassed by phone calls etc. Check in from time to time and let us know how you are doing.

Jojo

JoJo_Sparkly

Got my next refusal letter from Woolwich/Barclays today. Have sent back the you have 7 days to cough up or we go to Judge Judy - Can't wait!!!

Jojo

hypno06

Had a nightmare last night - dreamt about the impending hypno v barclays action. It is now a week since I submitted my claim to the court and of course no news yet re a defence or anything so am in limbo at the moment. It is a strange yet still empowering feeling, taking on one of the biggest corporate bodies in the world, but it doesn't do the sleep patterns any good!

Have applied today for an M&S card for the low interest balance transfer. I know I will be rejected so why I bothered to apply I don't know, but something made me do it so you never know.....

Have a good weekend everyone and stay strong x