DMP & Mutual Support Thread - Part 8

Hopelessly_Hopeful

925pws wrote: »

Morning everyone

Have now registered for a bank account with Co-op. I'm still very confused though even after chatting with CCCS.

I can't send off my papers to CCCS until I get the bank account, I can't change my DDs until I've got the account either nor tell my employer. They come out at all times during the month, then there's the case of the creditors. CCCS told me to cancel their DDs as soon as but as I'm in the middle of changing bank and moving I haven't done this yet until the new bank account is opened. So where my salary will end up this month is beyond me

Oh dear I'm just a little flustered today I guess.

Hi and welcome

This one's easy to sort

Cancel DD and get the current bank to acknowledge. That way no OD charges!

Write to the creditors with token payments of £1 instead of usual DD and advise them you are in process of setting up DMP with CCCS and will be in touch. Use same letter to say no contact except in writting etc.

Ask your employer when is cut for to let them know bank account details for this month. Let them have details and ask them to confirm.

Go withdraw from your current bank account now!

That should do it.

Please shout if any more questions.

HHx

Time_to_face_the_music

925pws wrote: »

Thank you. I just love your signature and hope it will reflect my determination to pay off my debts.

Was the co-op bank account you opened the standard current account?

Thank you.

You are very welcome

Thanks. My signature reminds me of why we are here and how much life will change when we are debt free. I can't wait to update it every month when we have made a CCCS payment or when we get an updated bill or when we make a sneaky extra payment to one of the bad banks :mad:

We opened a Co-Op standard current account and also a smart saver account to save for annual bills like MOTs, birthdays, Christmas etc. You can transfer money between the two online instantly.

We cancelled all of our direct debits as soon as we set up the DMP, then set them up again as soon as the new bank account was open. At the same time, we also changed all the DD dates so they came out when we got paid.

It's not easy at first, so just shout out when you need help with anything. There is always someone around to give advice or share their experiences ... or just to "listen" when you need to sound off. It does get easier, the first steps are the hardest and you have already taken those. Well done :T

wendy1950

Thank you Growyourown, I thought it may be the case but always good to hear someone else thinks the same.

925 my sister in law managed to get her wages transferred to her new account pretty quickly, she is paid weekly, and the wage she couldnt she took out from the atm with the two cards she and her husband had over 3 days, then cancelled all the DD's, it worked except for one bill she wasnt quick enough with, I would imagine the bank doesnt know about the CCCS yet so just get any money out asap. good luck x

925pws

Seriously everyone thank you so much for you help and advice it is so greatly appreciated

I just have a few questions that are playing on my mind, if you don't mind answering these?

Firstly, if I do get extra cash from extra work should this be sent to CCCS to distribute to the creditors or could I do this myself?

Secondly, and something that has me seriously worried, I have power of attorney for a relative and they have a savings account with one of my creditors the savings account also has my name on it. Is there a possibility of them delving in to this account to use to pay off my debt? This money has to be used for nursing home fees and while I've POA it is not my money.

Thank you.

wannabee_in_credit

925pws wrote: »

Firstly, if I do get extra cash from extra work should this be sent to CCCS to distribute to the creditors or could I do this myself?

Secondly, and something that has me seriously worried, I have power of attorney for a relative and they have a savings account with one of my creditors the savings account also has my name on it. Is there a possibility of them delving in to this account to use to pay off my debt? This money has to be used for nursing home fees and while I've POA it is not my money.

Thank you.

The couple of times I've had an extra few quid at the end of the month then I've used it to start off my emergency fund. Which is a godsend now I have it. I suppose it depends how much extra money there is.
I had my kids savings accounts with one of my creditors, and whilst I was told that they couldn't take money from them to pay my debts I moved the accounts to be on the safe side.

925pws

Thanks. I don't know if the POA gives me authorisation to move relative's money to somewhere else. Surely they couldn't touch it as it's still in relative's name with mine on there just as the POA?

tiredmumof2

Hi All (again!) :wave:

Update:

• Bank account open and all DD's now being progressed (regular text messages from Nationwide to keep us informed of the progress).

• Bank details changed for both mine and Hubby's salary - takes effect this month

• All DD's cancelled on old accounts with OD's.
• CCCS docs sent off by registered post on Tuesday so they should ahve this now.
• letters sent to our creditors to inform them of the situation (2nd class registed as I didn't want them to get the letters until CCCS got theirs!)

This is my concern. I used the standard template letter from the CCCS pack and it didn't mention anything about making token payments or not being contacted directly. So, should I send additional letters to all of my creditors in the meantime with a token payment and instructions of no contact or just leave it and pay a small amount over the desk (at the bank)?


Thoughts please - apologies for asking the obvious but I just want to make sure I don't p*** any of my creditors off more than I currently am by going on the DMP!

Time_to_face_the_music

tiredmumof2 wrote: »

Hi All (again!) :wave:

Update:

• Bank account open and all DD's now being progressed (regular text messages from Nationwide to keep us informed of the progress).

• Bank details changed for both mine and Hubby's salary - takes effect this month

• All DD's cancelled on old accounts with OD's.
• CCCS docs sent off by registered post on Tuesday so they should ahve this now.
• letters sent to our creditors to inform them of the situation (2nd class registed as I didn't want them to get the letters until CCCS got theirs!)

This is my concern. I used the standard template letter from the CCCS pack and it didn't mention anything about making token payments or not being contacted directly. So, should I send additional letters to all of my creditors in the meantime with a token payment and instructions of no contact or just leave it and pay a small amount over the desk (at the bank)?


Thoughts please - apologies for asking the obvious but I just want to make sure I don't p*** any of my creditors off more than I currently am by going on the DMP!

Hi TMof2

Wow great work, well done :T

What date does your first payment go to CCCS? If it's this month, I wouldn't bother with a token payment. If it's next month, I would send all your creditors £1 each and keep anything else you can afford as a start for an emergency fund.

We started our DMP very quickly and made 2 payments in February. If I had read more posts here , I would have made token payments and saved the first CCCS payment as an emergency fund and started with the second. Don't get me wrong, we managed and it was very positive seeing both payments made but it was a tight month.

But we always did love beans on toast :rotfl:

tiredmumof2

Time_to_face_the_music wrote: »

Hi TMof2

Wow great work, well done :T

What date does your first payment go to CCCS? If it's this month, I wouldn't bother with a token payment. If it's next month, I would send all your creditors £1 each and keep anything else you can afford as a start for an emergency fund.

We started our DMP very quickly and made 2 payments in February. If I had read more posts here , I would have made token payments and saved the first CCCS payment as an emergency fund and started with the second. Don't get me wrong, we managed and it was very positive seeing both payments made but it was a tight month.

But we always did love beans on toast :rotfl:

Hiya! Thanks for the speedy response:T

First payment coming out on the 1st June but I do have some CC payments due on 14th May and 24th May so I think I'll make the token payment to them and keep the rest for the emergency fund.

Thank you so much for your advice so far on all my posts - you've been a great help!

925pws

Hello Tiredmumof2 :wave:

Just wanted to say hello to you as my LBM was 8th of this month, you are ahead of me on this but I hope to get everything sorted by next week at least.

After reading the threads on here think my letter to creditors will include the template from CCCS plus token payment plus only contact me in writing.

Fingers crossed for both of us.

All the best