DMP & Mutual Support Thread - Part 8

rdchick

Mr Grey is perfect for me - just 4 years older than me I am dreading the films though as I loved the books so much I think they will ruin it. I agree that it was poorly written though - she repeats the same words a lot - very annoying! xxx

BlushingRose

Time_to_face_the_music wrote: »

Am beginning to think I am the only person here who hasn't read it :rotfl:

Nope, I haven't read it either, although I did have a copy in my hand the other day.

Time_to_face_the_music

Grand_Benders wrote: »

They were lovely (as usual) and also suggested looking for a new deal on our mortgage. They're referring us to Compass to try and get a new fix. Does anyone have any experience with them?

Who are Compass?

Hopelessly_Hopeful

Grand_Benders wrote: »

Nope. I'm in the 'never in a million years' club too. Starting with the fact that it's based originally on Twilight Fan Fiction... then adding the numerous reviews slating the writing and apparent lack of an editor... And we won't even touch on the subject matter (which some of my friends have said is about as 'daring' as a mills & boon). Perhaps I just have odd friends though :rotfl:

Your friends - OMG:D

I couldn't possibly get into it for fear of injury. I only have £1 emergency allowance in my budget. I doubt it would but the cable ties nor the soothing cream

HHx

freedomfromdebt_2

Hi,
Would appreciate some advice. I am 3 years into DMP with Payplan and approx 3 years left to go. I need some repairs doing to house which will cost about £2500-£3000 - leaking roof, penetrating damp etc etc. Repairs have been needed for quite some time and now the situation is getting serious as the longer it gets left, the more damage is being done and the more it will then cost to repair. Quotes are from a reliable builder. All this rain is certainly not helping!!!
I have just spoken to Payplan and only advice they can give is to reduce dmp for 3 mths. However this would only generate £900 (which won't even cover cost of scaffolding) and also creditors likely to start charging interest again after a long battle to get some of them to freeze, so not really an option.
I would really appreciate if any has any ideas or advice. Don't have anyone I can borrow the money from.

Grand_Benders

Time_to_face_the_music wrote: »

Who are Compass?

The CCCS person I spoke to said they're an Independent Mortgage Broker who do a lot of work for people on DMPs. She thinks we'll have a good chance of getting a reasonable deal since we haven't defaulted on anything, or even missed any payments yet (well, till this month, which won't hit our credit files till next month) and we have sufficient equity in our house that we meet the limits for LTV ratio etc.

I normally wouldn't take recommendations like this, as I always worry about impartiality, but since CCCS have all my financial info, and I don't currently have a IFA, I guess it's worth speaking to them before I go anywhere else.

I might just check that they're 'all of market' first though. I can even hear :money: this voice in my head as I say that phrase! :rotfl:

Hopelessly_Hopeful

Grand_Benders wrote: »

In other news, after getting the call yesterday to confirm our DMP is set up and will start from 1st August, we got home to a letter from Santander reminding us that our 5 year fixed interest deal on our mortgage expires at the end of July and our mortgage is going up by £61 from next month :mad:

Had to call CCCS this morning, adjusted our budget to accommodate and reduced our DMP by the corresponding amount. They were lovely (as usual) and also suggested looking for a new deal on our mortgage. They're referring us to Compass to try and get a new fix. Does anyone have any experience with them?

Great news on the start up

Sorry to hear about the mortgage deal. Glad it's happened now rather than later though. It really upsets the apple cart when you make adjustments later so good it it can be as static as possible.

Sorry don't know about Compass, google always a good start. If you don't have to pay out fees is there any harm in trying?

HHx

Hopelessly_Hopeful

freedomfromdebt wrote: »

Hi,
Would appreciate some advice. I am 3 years into DMP with Payplan and approx 3 years left to go. I need some repairs doing to house which will cost about £2500-£3000 - leaking roof, penetrating damp etc etc. Repairs have been needed for quite some time and now the situation is getting serious as the longer it gets left, the more damage is being done and the more it will then cost to repair. Quotes are from a reliable builder. All this rain is certainly not helping!!!
I have just spoken to Payplan and only advice they can give is to reduce dmp for 3 mths. However this would only generate £900 (which won't even cover cost of scaffolding) and also creditors likely to start charging interest again after a long battle to get some of them to freeze, so not really an option.
I would really appreciate if any has any ideas or advice. Don't have anyone I can borrow the money from.

Ouch

Feel for you.

Is it worth going self managed and tokens for a year?

I suspect the best CCCS will suport you is an emergency patch up.

I had the same issue when I needed a car. Fingers crossed this one is holding on. Not sure it will get me to the last of my two years though.

Hope you find a solution.

HHx

lemoncheesecake

Hi, I hope nobody minds me joining this thread.

We've been with payplan for 3 years and its all been fine - budget ok etc. However, HSBC credit card haven't been helpful. I've buried my head a bit tbh, greatful of the break from creditors ringing and just made sure we made the payments to payplan.

we owed about £4200 to them and I was horrified to see after 3 years we still owe £3700 and have been paying them £63 a mth. I've had a look into this and it seems they haven't defaulted us but are marking us as LP. Also they hiked the interest rate up when payplan wrote to them to make our reduced offer payment.....right up to 24% apr. For some reason the last statement we got sent says 6.5% apr so most of our £63 started to make a dent in the balance. Is there anything we can do about the 24% apr all these years? Paypla shows the outstanding should be £1700 if interest had been suspended so its a huge difference.

Really desperate for some advice - also how will this affect our credit file?

Thanks

Hopelessly_Hopeful

lemoncheesecake wrote: »

Hi, I hope nobody minds me joining this thread.

We've been with payplan for 3 years and its all been fine - budget ok etc. However, HSBC credit card haven't been helpful. I've buried my head a bit tbh, greatful of the break from creditors ringing and just made sure we made the payments to payplan.

we owed about £4200 to them and I was horrified to see after 3 years we still owe £3700 and have been paying them £63 a mth. I've had a look into this and it seems they haven't defaulted us but are marking us as LP. Also they hiked the interest rate up when payplan wrote to them to make our reduced offer payment.....right up to 24% apr. For some reason the last statement we got sent says 6.5% apr so most of our £63 started to make a dent in the balance. Is there anything we can do about the 24% apr all these years? Paypla shows the outstanding should be £1700 if interest had been suspended so its a huge difference.

Really desperate for some advice - also how will this affect our credit file?

Thanks

Hi and welcome

Have you been getting monthly statements? When did they put it up. Last one says 6.5 but have they only just applied that? Have they only charged 6.5%?

There is some debt guidance with the OFT I think that states is not acceptable to raise interest rates when someone is in financial difficulty.

First off, write to them and complain, request lower interest and refund. Make sure you set your letter out well so easy to follow chronological events.

If you don't get appropriate response complain to FOS, it's easy to do.

I hope you manage to get it sorted.

HHx