DMP & Mutual Support Thread - Part 8

helpwithdebt

Hi, I have received my DMP pack through from CCCS today.
I was wondering if you could help me by answering a few questions??

1. My bills are due out in the next 7-10 days, do I just stop paying them or do I send them a token payment??

2. CCCS have advised me to open a new bank account as I have an overdraft on my account (only £150), do I have to change banks?? I would rather not. We earn't some money by selling on ebay so would rather clear the overdraft asap & not have my bank involved in the DMP.

3. CCCS have asked me to send them photocopies of statements for my debts, can I just send them my account reference numbers or even email them copies of statements?? The credit cards are all on paperless statements & I don't have access to a printer.

Sorry for all the questions, hope someone can help answer them.
Thankyou

savvykaz

Hi helpwithdebt; when we were setting up our DMP I just sent token payments of £10 to each of our debts, along with the letter from CCCS informing them that we were entering a DMP.
Re. bank account, we had to change as we were with Santander and I had a CC with them (Santander could have taken any monies paid into the bank account to repay the CC). We went with Lloyds TSB and I have to say the changeover has gone very smoothly.
Thirdly, CCCS told us that if we didn't have copies of statements we would need to contact our creditors for an up to date one which I had to do as we were paperless on a couple. Again the CC companies sent them within a couple of days.
Good luck with it all and I hth you

Mort

helpwithdebt wrote: »

Hi, I have received my DMP pack through from CCCS today.
I was wondering if you could help me by answering a few questions??

1. My bills are due out in the next 7-10 days, do I just stop paying them or do I send them a token payment??

2. CCCS have advised me to open a new bank account as I have an overdraft on my account (only £150), do I have to change banks?? I would rather not. We earn't some money by selling on ebay so would rather clear the overdraft asap & not have my bank involved in the DMP.

3. CCCS have asked me to send them photocopies of statements for my debts, can I just send them my account reference numbers or even email them copies of statements?? The credit cards are all on paperless statements & I don't have access to a printer.

Sorry for all the questions, hope someone can help answer them.
Thankyou

I replied on your thread "To DMP or not" to some of your questions. you can use the print to file feature of your browser to give CCCS copies of your statements.

Newchapter

Its really great to hear to got there, well done. It helps to hear there is actually an end to all of this debt, living on a shoestring and worry.

Mort wrote: »

It is but ditching them is the only way forward.

Hopelessly_Hopeful

Newchapter wrote: »

Its really great to hear to got there, well done. It helps to hear there is actually an end to all of this debt, living on a shoestring and worry.

Couldn't agree more. I was in denial and thinking not for me for a long time. In the face of rate jacking and 30% interest rates what other reasonable alternative is there when you want to pay back the debt?

HHx

Hopelessly_Hopeful

helpwithdebt wrote: »

Hi, I have received my DMP pack through from CCCS today.
I was wondering if you could help me by answering a few questions??

1. My bills are due out in the next 7-10 days, do I just stop paying them or do I send them a token payment?? Priority debts should be paid, CCs, loans etc just need £1 token.

2. CCCS have advised me to open a new bank account as I have an overdraft on my account (only £150), do I have to change banks?? I would rather not. We earn't some money by selling on ebay so would rather clear the overdraft asap & not have my bank involved in the DMP. Well done on the enterprising. You have to do anything. DMPs are voluntary even if it doesn't always feel like it. The main issue is do you have any related products of theirs eg, cc or loans. If so they could 'offset' ie just take money form your account. So if you do have move banks if not stay where you are.

3. CCCS have asked me to send them photocopies of statements for my debts, can I just send them my account reference numbers or even email them copies of statements?? The credit cards are all on paperless statements & I don't have access to a printer. Emailing screen shots is fine

Sorry for all the questions, hope someone can help answer them. Don't be sorry, we've all been there. Ask as many as you want.
Thankyou

And welcome! DMP life is not easy, some of the living expense allowances can be miserable. Still a damn site better than the alternative for most of us. Be prepared for it to get worse before it gets better. My debt went up by 2.5% in the first month, here I am 2 years later with almost half paid off. Hope that helps.

HHx

helpwithdebt

Hopelessly_Hopeful wrote: »

And welcome! DMP life is not easy, some of the living expense allowances can be miserable. Still a damn site better than the alternative for most of us. Be prepared for it to get worse before it gets better. My debt went up by 2.5% in the first month, here I am 2 years later with almost half paid off. Hope that helps.

HHx

Thankyou so much for your help. With regards to my bank their is only the small overdraft, our other debts are 2 x capital one cc (£190 & £170), vanquis cc (£1030), very account (£1495), K&co account (£1487) & simply be account (£1408).

Also you mentioned living expenses being miserable, when I filled in the CCCS SOA I used their suggested amounts & was amazed at what they said we should be spending ie food shop £480 we have been struggling with a £250 shop for 5 of us, clothing £79 we couldn't afford anything so usually had to buy it on cc or catalogue (continuing the cycle), etc. If our creditors accept our DMP offer our payments will drop from £370 to £94, this will be a HUGE weight lifted from our shoulders.

At the moment none of our accounts are in arrears but that is because we have been going without most things in order to pay them ie no haircuts, no days out, no new clothes, really cheap food shop.
Next month we have 2 buy now pay laters ending on my partners very & K&co accounts which we wont be able to afford, so our payments are going to go up (more than likely double, or more) we cant cut back any more so DMP is our only option.

We have a few more BNPL on the catalogues does anyone know how these are dealt with when on a DMP?

Hopelessly_Hopeful

helpwithdebt wrote: »

Thankyou so much for your help.

At the moment none of our accounts are in arrears but that is because we have been going without most things in order to pay them ie no haircuts, no days out, no new clothes, really cheap food shop. This should get easier but it s very very important you budget and watch your finances like a hawk. Keeping your fingers crossed is not a technique that works!!

Next month we have 2 buy now pay laters ending on my partners very & K&co accounts which we wont be able to afford, so our payments are going to go up (more than likely double, or more) we cant cut back any more so DMP is our only option. At least you know this. It's horrid seeing the reality when you right it all down. Being on a DMP will mean things will start to get better.

We have a few more BNPL on the catalogues does anyone know how these are dealt with when on a DMPHave you declared these to CCCS? Very important that ALL debt is declared or you will face issues later?

Keep in there

HHx

925pws

savvykaz wrote: »

Just when I thought things were on the up .
Yesterday DH reversed my car out of the drive, then when he tried to put it into 1st he felt all the gear links fall and it went sloppy!! Phoned local garage who came for it and took it away (would only go into 1st though - didn't envy him that embarrassing drive ), confirmed the gear coupling had fallen and would order new part. Came home from work today to see "new" car back on drive, amazing service, but a bill for £144 :eek::eek::eek:. Not sure where it's going to come from as don't have an emergency fund built up yet and no CCs to fall back on; this is gonna be the first of many hurdles, I'm sure

Could you phone your DMP company and ask to stop one payment while you pay for it? Think it would be allowed under the circumstances.

dfwsometimesoon

helpwithdebt wrote: »

We have a few more BNPL on the catalogues does anyone know how these are dealt with when on a DMP?

Hi im just starting dmp with payplan... I too have buy now pay laters with kandco and with very .... some of which arent due until dec/jan however I have included the full amount due as in the account balance showing on my accounts if that makes sense.... am hoping they keep the bnpl in place which means min payments will prob be met until then .... however if they dont am still covered as have already accounted for it.... and fingers crossed they will freeze interest and charges anyway ...... hope that helps some x