DMP & Mutual Support Thread - Part 8

Tigsmom

Growurown wrote: »

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Don't feel guilty either. You will have paid lots in interest so they have made a lot out of you and we all know that the banks are a load of thieving bar stewards as recent events in the news shows. Look upon it as getting your own back.;)

Yes we have been paying a loan for 6 years and I calculated that we have already paid them over 13k. The original loan was 16k yet we still have 4 years left due to interest charges. I was hoping that if we offered to pay back 3k they would just write it off as they wouldn't have lost anything but I don't hold out much hope...

Tigsmom

Thank you Bertman. Your advice really helped. I put the kettle on and had a homemade choc chip fairy cake . I left the financies be for the rest of the day and went to bed slightly earlier than usual.

I'm going to have another go at setting up a bank account today then maybe draft my letters later, then leave it again. I've decided I need to do this one step at a time. I would like to be able to pay off my o/d before switching accounts but I'd have to sell some of my junk on ebay first!

Lady1982

Thanks for reply
CCCS advised the DMP is nothing to do with me so my CC is ok- just a bit of info incase anyone else was wondering.

RE the bank- I was thinking if i open a new joint account with a bank he has no debt with will this have any impact on me? Im considering uing the halifax as thats who our mortgage is with then everything we have is with the same bank?

haha @ the joint numptys- and to be fair so are we just the hubby has always been the higher earner and for some reason all the debt was always in his name- that made me laugh tough

Growurown wrote: »

Lots of people use the Co op and seem to like it and it is supposed to be ethical. I changed to First Direct. They seem OK although I am not under any illusions that they will be any different from any other bank.

If you aren't included in the DMP then I don't think the CC is a problem but it may be worth checking it out with CCCS if you are worried. Not sure about a joint or separate account, do you have a preference? We have a joint account but we are doing a joint DMP because we were joint numptys.

nfollows1982

Hi all,

Feeling quite positive today. Me and the OH sat down last night and looked at the budget we are going to have once my DMP is set up and it's such a relief to see that we are actually going to be able to live month to month without worrying where the next ££'s are coming from.

I've set up a new account with co-op yesterday and I've updated my financial spreadsheet so I can keep track of the budget and make sure we dont over spend.

I also cut up the 2 remaining credit cards I had last night and I actually feel for the first time that I really have made a decision to get this debt sorted once and for all.

My OH has no credit whatsover so there are no temptations there so it's all about living within our means and getting on with our life from now on!!

Hopelessly_Hopeful

nfollows1982 wrote: »

Hi all,

Feeling quite positive today. Me and the OH sat down last night and looked at the budget we are going to have once my DMP is set up and it's such a relief to see that we are actually going to be able to live month to month without worrying where the next ££'s are coming from.

I've set up a new account with co-op yesterday and I've updated my financial spreadsheet so I can keep track of the budget and make sure we dont over spend.

I also cut up the 2 remaining credit cards I had last night and I actually feel for the first time that I really have made a decision to get this debt sorted once and for all.

My OH has no credit whatsover so there are no temptations there so it's all about living within our means and getting on with our life from now on!!

Morning and Welcome

Just flying through but wanted to stop and say a quick hello


HHx

Tigsmom

So I tried to set up my new account again. If you recall it accepted us, offered us a £250 o/d and then crashed and said 'try later'. This time it wouldn't confirm acceptance but just said they will let us know within 10 days. :wall:

I guess that gives me plenty of time to write my letters and get my stuff listed on Ebay!

nfollows1982

Tigsmom wrote: »

So I tried to set up my new account again. If you recall it accepted us, offered us a £250 o/d and then crashed and said 'try later'. This time it wouldn't confirm acceptance but just said they will let us know within 10 days. :wall:

I guess that gives me plenty of time to write my letters and get my stuff listed on Ebay!

Have you tried the co-op for the cashminder account? I got accepted over the phone and they don't want any ID and said I can have the new account number within 48 hours.
I would try and avoid a standard current account with an OD facility if you are going into DMP as the temptation is always there to spend it!!

2spicy

Grand_Benders wrote: »

I have a lever arch file with dividers all set up and ready to go. Am just about to file the latest cc statements and all the stuff we're sending to CCCS to get things started. One section per creditor, one for CCCS. After reading the last 20 pages of this thread last night, I've realised I need to have full ownership of our DMP even though CCCS will be running it, so thanks to all the great posts here I'm already working on the basis that I will be checking all statements/balances against CCCS every month and if anyone stops sending me regular monthly statements, I'll be calling to check, and also writing to ask them to resume sending them.

I am a bit of a spreadsheet queen, so will be keeping a correspondence tracker too. We have 11 debts with 7 creditors, so not as much as you had to track, but enough that I need to keep a note of who, what and when.

We have all our 'lightbulb' stuff on google docs so we can share it between us (me and the OH) and access it at home, work or any mobile device.


Will be adding this to the monthly task list too

I don't know if I've said this before but this thread is fab. Full of wonderful advice from fantastic people. My new best pals! :T

Sorry for the late reply, I had a lever arch file ... 4 years on, I now have 4 lever arch files !!!... every month's statement I file away and note down the date / outstanding balance for each creditor. im looking forward to shredding the lot with a few bottles of wime when its all over !

Tigsmom

nfollows1982 wrote: »

Have you tried the co-op for the cashminder account? I got accepted over the phone and they don't want any ID and said I can have the new account number within 48 hours.
I would try and avoid a standard current account with an OD facility if you are going into DMP as the temptation is always there to spend it!!

Have looked at co-op but tried to open account with Nationwide after someone recommended them earlier. Mind you, judging by the experience I've had so far I may well be going to co-op anyway. They only have one branch here though, in the city centre (not near me) so their online facility and number of cash machines I can use would have to be good.

Time_to_face_the_music

nfollows1982 wrote: »

Hi all,

Feeling quite positive today. Me and the OH sat down last night and looked at the budget we are going to have once my DMP is set up and it's such a relief to see that we are actually going to be able to live month to month without worrying where the next ££'s are coming from.

I've set up a new account with co-op yesterday and I've updated my financial spreadsheet so I can keep track of the budget and make sure we dont over spend.

I also cut up the 2 remaining credit cards I had last night and I actually feel for the first time that I really have made a decision to get this debt sorted once and for all.

My OH has no credit whatsover so there are no temptations there so it's all about living within our means and getting on with our life from now on!!

Knowing your budget and living within it is something we find really empowering. It was certainly a huge change from our old way of living, pay a minimum payment on a CC, then count the days until we could borrow back that money again

We have found the Co-op great and like their ethics so we are likely to stick with them for good now. Though we made a mistake and opened a standard account before our credit rating was totally trashed so we have had to decline their kind offer of an overdraft facility twice now

Living within your means and getting on with your life is what it is all about, that's a great DFW mantra :T