DMP & Mutual Support Thread - Part 8

savvykaz

Hi all,
I too have posted my pack off to CCCS today, so there's no turning back . It feels very scary knowing we won't be able to fall back on the credit cards but that's exactly where we've been doing wrong!!
Just one little hiccup today though - we've changed bank accounts from Santander to Lloyds TSB and when I asked HR at work at the end of April if my wage for May would go into my new account she said definitely not, it would be June; so when I looked on internet banking this morning to see how much I'd been paid, imagine my shock to see no money in Santander :eek: - I logged onto Lloyds and lo and behold my wage is sitting in my new bank account!! So tomorrow I'm going to have to draw some money out to put into Santander to cover DDs before Santander is closed on 21st May. Have bought some plastic wallets from local post office today to sort my budgeting, can't wait to get going now,
Good luck to everyone who's already on a DMP, those in the process of starting like us and those who are still to take the plunge xx

iwilldoitthistime

thanks 925 - hello to you too :wave::wave::wave:

I think Im at the same point as you - I hope to get my bank stuff sorted tomorrow then I can change our wages over and set up all the essential DDs for next month. Ive got this fear that I wont get it all done in time :eek:

I definately feel more in control though, so it can only be a good thing!

Good luck and keep posting x

tiredmumof2

925pws wrote: »

I know my journey has just started but it's so up and down. Even by the hour. I go from feeling relieved to be sorting this out to angry to not giving a toss as the banks owe billions to the taxpayer and my debt is a drop in the ocean compared to that but then the circle of feelings begins all over again. Am I the only one or do you feel like that too?

Thank you for sharing your experiences, without you I would not have the determination to fix this nor the will power to continue. It's such a lovely feeling being part of this community.

Yes, I feel exactly the same but I think the majority of this is the apprehension of how the creditors will react when they get the letters!!! Obviously the first few months are going to be rocky but we'll get through it with the help of the lovely peeps on this forum (most of whom were in the same position as us and they've made massive steps in their debt management!).

We've taken the biggest step - admitting the problem
And getting the ball rolling- its all go now x :T

BevieB

Hi all,
We have been with CCCS since Sept 2011 and managing fine. The only problem is that from August I lose my company car and I will need to buy my own as I need car for business. I will receive expenses which will cover most running for 1 month to help with the purchase of a car.
I am now worried about the effect of this. Will I receive more calls and will the creditors start charging interest again.
Has anyone had experience of this?

ianmak

A warm welcome to savvykaz, please do stick around!

savvykaz 434

Growurown

BevieB wrote: »

Hi all,
We have been with CCCS since Sept 2011 and managing fine. The only problem is that from August I lose my company car and I will need to buy my own as I need car for business. I will receive expenses which will cover most running for 1 month to help with the purchase of a car.
I am now worried about the effect of this. Will I receive more calls and will the creditors start charging interest again.
Has anyone had experience of this?

Hi BevieB
Are you going to have to reduce your monthly payments or miss some payments to fund the purchase of a new car? We had to reduce a payment just for one month to cover the cost of an expensive car repair and we didn't get much hassle at all. Some creditors will complain that you have broken the agreement but there's not really a lot they can do. You have to have a car for work, although in theory when on a DMP you shouldn't be taking on any more credit. I would contact CCCS to see what your options are.

trainergirl

Just wanted to share the news... I've had confirmation from CCCS that the DMP will start from 1st June - so glad things are in place!

Also changed the last of the DD's over to the new bank account at The Co-op today, so I can start winding down the Lloyds account now. Was thinking today - is it better to open another cashminder account with The Co-op so that there's one for household DD's and another for my food / petrol / general spends??

Just bracing myself for the onslaught of letters and phone calls now from creditors.

BevieB

Growurown wrote: »

Hi BevieB
Are you going to have to reduce your monthly payments or miss some payments to fund the purchase of a new car? We had to reduce a payment just for one month to cover the cost of an expensive car repair and we didn't get much hassle at all. Some creditors will complain that you have broken the agreement but there's not really a lot they can do. You have to have a car for work, although in theory when on a DMP you shouldn't be taking on any more credit. I would contact CCCS to see what your options are.

Its a reduction for 1 month only from £800 to £300. I have saved some money but need the extra so I can buy a car for £1500. I work for the government and will get expenses which I can use towards running costs. I will not need any more credit.
The CCCS have arranged a reduction for next month which is good but I was just concerned about the reactions of the creditors.

Growurown

BevieB wrote: »

Its a reduction for 1 month only from £800 to £300. I have saved some money but need the extra so I can buy a car for £1500. I work for the government and will get expenses which I can use towards running costs. I will not need any more credit.
The CCCS have arranged a reduction for next month which is good but I was just concerned about the reactions of the creditors.

This almost identical to what we had to do. So far only two of our twelve creditors have made a fuss because we broke the arrangement originally made. CCCS didn't give me the impression that it was much of a problem either, and I contacted the creditors who said they were willing to reinstate the arrangement when I explained the situation. I think the worst they will do is pass the debt onto a DCA.

the_tooth_fairy

2spicy wrote: »

It would seem we are travelling on similar paths .. £69K total Debt, just under £37k left to pay as soon as this months payments are recieved

Hello again, 2 Spicy, yes we are indeed on similar paths. Imagine how much extra we will have to spend when our DMPs are over! I'm just praying our car holds out until then. Great to hear you are making good progress.
Reading some of the Newbies posts, I remember how terrified I used to be when creditors rang me or sent menacing letters. A few weeks ago I got a really scary one from a collections company who had bought my Sainsburys Visa debt over.Thanks to everyones experiences on this forum I calmly rang them and when they tried to muscle money off me, I said, "Absolutely not, deal with this via Payplan!"
I would never have dreamed of that confidence at the start, so hang in there, it comes to us all in time!

ttf