DMP & Mutual Support Thread - Part 8

Time_to_face_the_music

ben80 wrote: »

!!!!!!. Wish I'd seen this, I've sent it of now. Oh well. Thanks anyway.


On another note, I asked for a CCCS review today and my DMP will officially finish in March next year! (Full payment Feb, then partial payment March to tie up loose ends) Woo hoo! I'm planning on going wild with the eBay and hassling o2 about my mobile/b-band to see if I can't make up the difference to make my final payment February!

Fantastic news ben80 :j

Would you like some of our clutter to sell on ebay? :rotfl:

ben80

I agree about Co-operative. I'm sticking with them when the DMP is over! With reference to Lloyds, it's so annoying how they're giving random interest rates out to us all. I'm going to hassle them forever to get my interest back (even if it means claiming it back through wasting their time and costing them hundreds of letters and envelopes!!)

Also - Well done iwilldoitthistime!! Stick with it and remember that if you have a bad day, there a several more good days coming your way... you just have to wait a while for them!

I'm not sure I could cope with your stuff as well as mine!

smcshane

Hi All

Haven't posted for ages but had to share a story. As some of you are aware I was in the fortunate position of paying of the majority of my DMP and then went to self managed for the remainder.
So I paid of my Marbles credit card in march, April statement arrived and there was an outstanding interest charge of £19. Ok paid this as they had not stopped interest but kept it reduced. So paid this before payment date and waited for my next statement so could then close account. May statement then arrives with a payment requirement of 1p:eek:

Well you can imagine my reaction, this was just ridiculous. So I left it a week to calm down. There was no way I was paying by cheque and paying for a stamp! Online banking wouldn't let me pay less than £1 and I wasn't wasting my petrol getting to the bank.
So phoned them this evening, spoke to a lovely lady who after trying to hide her giggle when I mentioned the 1p, but not quite managing it:rotfl: refunded the 1p so the account could be closed.

Moral of this the banks have no sense but some of their employees do:T

I know some have been struggling with their DMPs recently but keep at it and always talk to your provider they are there to help.

Sx

Hopelessly_Hopeful

smcshane wrote: »

Hi All

Haven't posted for ages but had to share a story. As some of you are aware I was in the fortunate position of paying of the majority of my DMP and then went to self managed for the remainder.
So I paid of my Marbles credit card in march, April statement arrived and there was an outstanding interest charge of £19. Ok paid this as they had not stopped interest but kept it reduced. So paid this before payment date and waited for my next statement so could then close account. May statement then arrives with a payment requirement of 1p:eek:

Well you can imagine my reaction, this was just ridiculous. So I left it a week to calm down. There was no way I was paying by cheque and paying for a stamp! Online banking wouldn't let me pay less than £1 and I wasn't wasting my petrol getting to the bank.
So phoned them this evening, spoke to a lovely lady who after trying to hide her giggle when I mentioned the 1p, but not quite managing it:rotfl: refunded the 1p so the account could be closed.

Moral of this the banks have no sense but some of their employees do:T

I know some have been struggling with their DMPs recently but keep at it and always talk to your provider they are there to help.

Sx

Well done McShane

Would you mind sharign more details about going self managed?

HHx

Time_to_face_the_music

CCCS_Pavan wrote: »

Hi everyone and thanks for your comments.

Just to clarify: creditors agree to pay us what’s known as a 'Fair Share Contribution' (FSC), in recognition of the unique service we provide to people in debt.

FSC comes from creditors that pay a voluntary, non-contractual and charitable donation of the money that’s repaid to them through debt management plans.

This doesn’t affect our advice in any way - we’re completely impartial.

However, this forum thread is to help those in need of debt advice rather than discussions on how we are funded. As someone has mentioned, somehow another thread has been merged into this one.

To stop any confusion, and so that we can continue to help those that need it, it’s best to continue this conversation on another thread - we’re happy to contribute if needed.

Thank you,
Pavan

Sorry if I have posted in the wrong place but the thread merge is very confusing :wall:

While I am here, can I please just ask one more question:

If CCCS's income from FSCs was £28.6 million in 2010, why is it necessary to hold on to our money for 25 days each month? I naively believed that was the only way that CCCS earned money to keep running and thought it was fair enough but in the face of £28.6 million, I would really like my debts to be paid off 25 days earlier

Hopelessly_Hopeful

Time_to_face_the_music wrote: »

Sorry if I have posted in the wrong place but the thread merge is veryconfusing :wall:

While I am here, can I please just ask one more question:

If CCCS's income from FSCs was £28.6 million in 2010, why is it necessary tohold on to our money for 25 days each month? I naively believed that was theonly way that CCCS earned money to keep running and thought it was fair enoughbut in the face of £28.6 million, I would really like my debts to be paid off25 days earlier

Actually when you put it like that TTFTM it got me thinking. My plan is over 4 years in duration so 48 x 25 = 40 months of interest I could be saving by paying direct to the creditors?

Have I got that right please?

HHx

wanna-be-mortgage-free_2

Hi HH

I've decided to go it alone for my DMP. After the initial shame, being totally scared I just thought what the heck, I'll give it a go myself.

My reason is the total control I will have over the date the payments go to my creditors but also if an unexpected bill arrives then I will pay that and reduce my dmp accordingly without having a 'middle-person' and having to explain my reason.

I will keep you posted with how it goes. I've read a few of your posts and it seems you are considering a self managed dmp. I wish you well with it.

Hopelessly_Hopeful

wanna-be-mortgage-free wrote: »

Hi HH

I've decided to go it alone for my DMP. After the initial shame, being totally scared I just thought what the heck, I'll give it a go myself.

My reason is the total control I will have over the date the payments go to my creditors but also if an unexpected bill arrives then I will pay that and reduce my dmp accordingly without having a 'middle-person' and having to explain my reason.

I will keep you posted with how it goes. I've read a few of your posts and it seems you are considering a self managed dmp. I wish you well with it.

Good luck with it

Will be very interested to hear how you get on

HHx

2spicy

.. Im 100% happy with the service from Payplan, the response I get when I send an email question is brilliant too .. I have toyed with the idea of a self managed DMP, but now we have ditched the Direct Debit with Payplan, and gone back to the Standing Order, all of our payments have gone out ontime. I too wonder why it takes almost 18 days to pay my creditors, and the monthoy statments sometimes show a missed payment that is carried over onto the nextr month where they reconcile ok, but for now, Im happy

Hopelessly_Hopeful

2spicy wrote: »

.. Im 100% happy with the service from Payplan, the response I get when I send an email question is brilliant too .. I have toyed with the idea of a self managed DMP, but now we have ditched the Direct Debit with Payplan, and gone back to the Standing Order, all of our payments have gone out ontime. I too wonder why it takes almost 18 days to pay my creditors, and the monthoy statments sometimes show a missed payment that is carried over onto the nextr month where they reconcile ok, but for now, Im happy

Great news that is suiting you 2spicy. Did they do anything to help get interest stopped?


Are you saying payplan hold onto all payment for 18 days?

Does anyone know if Payplan will take over DMPs from CCCS?

HHx