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DMP & Mutual Support Thread - Part 8

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  • Tigsmom
    Tigsmom Posts: 290 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Thank you HH. I feel much better now. Have managed to get over my weepy day (although bad shouty/sleepless night yesterday) and now I have completed forms for new account, spoken to CCCS and got new figures, written creditors letters. I'm looking on this as a 'learn how to manage your money' course! (Maybe I'll get a certificate at the end!).
  • Tigsmom wrote: »
    Thank you HH. I feel much better now. Have managed to get over my weepy day (although bad shouty/sleepless night yesterday) and now I have completed forms for new account, spoken to CCCS and got new figures, written creditors letters. I'm looking on this as a 'learn how to manage your money' course! (Maybe I'll get a certificate at the end!).


    It's a real rollercoaster especially at the start and then a few bumps here and there but at least this way, going on a DMP and giving up some cash privileges you WILL get a DFD, the chances of that without a DMP are slim for most here.

    I'd suggest you probably feel better because you have done things that make you feel in control. If I am having a fretty session I try channel the energy into sorting things out in the house of getting more MSE thrifty, batch cooking, menu planning, spending log analysis and planning etc. It's amazing how quickly you can feel tons better.

    Good luck

    HHx
  • If I am having a fretty session I try channel the energy into sorting things out in the house of getting more MSE thrifty, batch cooking, menu planning, spending log analysis and planning etc. It's amazing how quickly you can feel tons better.

    I work out to 7 decimal places what % of our debt we have paid off. Then I work out how many years, months, weeks, days and minutes until we are debt free. Then I add all kinds of different equations in, like if we pay 19p, £1.90, £19 or £190 extra per day, week, month etc, how much sooner it will be.
    Then I laugh at myself because I am such a sad debt geek :rotfl:
    LBM 10/1/12 ~ DFW Start 6/2/12: £82,344 ~ Now Zero
    :staradmin:starmod::staradmin Debt free 17th April 2015 :staradmin:starmod::staradmin
    Eternal thanks to the DMP & Mutual Support (no.439) and Payment a Day Threads
    Mortgage free 3rd July 2014 - Grateful thanks to the 2013/14 MFW threads
    "Debt is normal. Be weird!" Dave Ramsey
    Proud to have dealt with our debt :)
  • sickasachip13
    sickasachip13 Posts: 1,190 Forumite
    Hi all,

    You definitely want defaults as early on as possible as they then start the six year countdown from that point (in terms of showing on your credit file).

    For the newbies, honestly, don't be scared of the first few weeks - it's really not that bad. I've heard a lot worse things from people not on dmps being pursued for debts tbh.

    I did a blog about my experiences of going on a dmp, if you'd like to read it, it's here: http://moneyaware.co.uk/2011/09/my-debt-hell/
    SAAC
  • Some of us don't care about our credit files because we never want credit again :j
    LBM 10/1/12 ~ DFW Start 6/2/12: £82,344 ~ Now Zero
    :staradmin:starmod::staradmin Debt free 17th April 2015 :staradmin:starmod::staradmin
    Eternal thanks to the DMP & Mutual Support (no.439) and Payment a Day Threads
    Mortgage free 3rd July 2014 - Grateful thanks to the 2013/14 MFW threads
    "Debt is normal. Be weird!" Dave Ramsey
    Proud to have dealt with our debt :)
  • rdchick
    rdchick Posts: 1,815 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    I don't want credit again... except for a mortgage... I want a debt free wedding, babies and be mortgage free asap! xxx
    Life is too short not to love what you do.
  • I work out to 7 decimal places what % of our debt we have paid off. Then I work out how many years, months, weeks, days and minutes until we are debt free. Then I add all kinds of different equations in, like if we pay 19p, £1.90, £19 or £190 extra per day, week, month etc, how much sooner it will be.
    Then I laugh at myself because I am such a sad debt geek :rotfl:

    I think we are twins!

    For me it's very empowering. But then I do chastise myself sometimes for not respecting the 'you can buy time back' thing.

    HHx
  • BlushingRose
    BlushingRose Posts: 1,621 Forumite
    edited 5 July 2012 at 12:25PM
    Well, I wish MBNA would make their minds up!

    Back when we started the DMP, we got a letter saying that they accept our lower payments and that they will freeze interest etc.
    Then, a couple of weeks ago, they sent us a letter saying that they were going to default us.
    Then, last week we get another letter saying that they accept our lower payments (we've had to make adjustments through CCCS) and will freeze interest, and now today another letter saying that if we don't make up the arrears, they're going to default us.

    ARRGGHHHHH!!
    Our LBM: Dec 2011. DMP started: Jan 2012. Debt at LBM: £41,568

    Oct 2012 = Current debt: £40,548.93
    Oct 2013 = Current debt: £39.054.70


    DMP Support number 424 - Long haul number 308
  • Growurown wrote: »
    Hi Luis, I think everyone worries about this when embarking on a DMP because you do hear some horror stories. However I have to say I had very little hassle. It is important to talk to your creditors when they call, but all you have to do is stick to your guns, tell them you are on a DMP with CCCS, quote your number and refuse to pay anything extra as this is unfair to your other creditors. Once things are up and running everything will settle down. If you do get lots of hassle you can ask them to contact you by letter only.

    Lots of good advice on here if you need help. Let us know how you get on.

    PS Are you really a magician?:D

    Well some would say i can make money dissapear in the blink of an eye ;)

    Thanks for all the words of advice, have spoke to CCCS today, and they have put my mind at rest regarding some of the issues i had. What a nice bunch they are.
  • bertman
    bertman Posts: 275 Forumite
    Got a raft of letters last night from CC companies last night. HSBC saying they can't act on the letter as it wasn't signed. I am not too worried as the CCCS letters go out today.
    I logged onto their website client page and its pretty good, I need to find a way of paying more money off each month to reduce the date the debts will be paid off.
    Barclaycard rang me at work but I told them to ring me when I get home, these are my biggest creditors so may be the worst to deal with - we will see!!!
    Debts as of June 2012 - £68,986.35
    Now £27,470.20 :T
    57% of debts cleared:beer:
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