Advice please about new DMP

selinaw001

Hi after years of juggling my finances I have finally admitted to myself that I can no longer carry on paying my debts at the rate I have been doing. I filled in all my details on CCCS last night and am now waiting for paper work from them. My questions ( if anone can help ) are

1 How likely is it that my creditors will accept lower payments when I have been keeping kind of up to date with most of them ?

2 What should I do about payments due over the next few weeks ?

3 How much stress am I likely to get over the phone and in the post?

To put it briefly I have been paying out just over £1000 per month and after putting my details into CCCS they calculate I will have £450 left each month to pay them between myself and my husband we owe 19 different creditors all varying between £300 and £5000 and I have been trying so hard to not have to go down this route but as it has been I have been trying to feed and cloth and pay for all the essentials for 6 of us on less than £80 per week. the stress has really got me down to the point where I dont want to do anything even a walk on the beach with my children feels like too much I just want to hide away at home. The reason I was asking about the phone calls is because I am not always that strong on the phone and end up backing down to demands ( sounds pathetic I know ) My husband however is the complete opoposite and will stand his ground but more of the debts are mine and I know he cant do it for me. I am sorry for the long rambling post and thank you in advance to anyone who can give me an idea of what could happen over the next weeks and months

Tixy

Hi and welcome

Well done on contacting CCCS

1 - fairly likely, if they can see from your budget that you can no longer afford to keep up with repayments. Even if they won't officially say they will accept your lower payments you will often find that they will take no further action if you are paying through CCCS.

2 - Usually you are advised by CCCS to pay a token payment to your creditors for 1 month whilst things are set up - there is a template you could use here (although CCCS will probably send you a similar one)
One word of warning, don't send a token payment to your own bank (overdraft, or other debts with your own bank) until you have a new account set up and your money going into the new account - otherwise they will offset any money in your current account against their debts.

3 - Not loads, a few letters and maybe calls for the first month or so, then it should die down, and you just get occasional requests to up your payment or statements etc. If anyone is phoning a lot then you can send letters to require them to stop and all communication to be in writing. See this link http://forums.moneysavingexpert.com/showpost.php?p=11571485&postcount=4

If anyone does call and you feel harrassed then just give them your CCCS number and hang up. Or say you can't pay them anymore because it would break the terms of the DMP, or just refuse to confirm your security details/ who you are and they can't discuss the account with you at all then.

Good luck

DizzyDizzy

Hi,

I would second everything that Tixy has advised you, we have been on a DMP with CCCS for about a year now. The first couple of months can be a bit hard going as creditors take a few weeks to register the DMP and let all their relevant departments know. BUT it will get better, and then at least you will have peace of mind that you can take care of your family and the DMP will sort the creditors out.

DO start a different bank account with a bank who is completely seperate from all your creditors, I know you have quite a few but you will be able to find one. Try the post office or co - op cashminder, they are usually quite seperate.

Once you have your DMP number from CCCS you will be able to just quote this down the phone to your creditors, then it will all become a lot simpler.

Hang in there - it WILL get better ! If you end up having a "down" day just come back here and it will boost your spirits!

All the best x