DMP & Mutual Support Thread - Part 8
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Oooo .. Talk about offering alcohol to a recovering alcoholic .... Mr Spicy has just been given a "Company Credit Card" to help with his work related travels. ...
We both were sceptical to begin with, as its a temptation to use when money is tight towards the end of the month.. but he has been told that the card is for buisness expenses only, and must be cleared each month.
This should free up around £100 a month that we have had to put aside for his travels.
Also, checking the credit file, it would appear that dispite his name being on the card, it is not listed with Experian, so there is no need for us to worry about breaching the terms of the DMP agreement.
Now, must be strongotherwise im sure he would be off to Thomas Cook, then to get a new car !! ...LBM - Oct - 08 DMP Started - Feb -09
Total Debt - £77,688 .00
DMP Support Member - 259
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Oooo .. Talk about offering alcohol to a recovering alcoholic .... Mr Spicy has just been given a "Company Credit Card" to help with his work related travels. ...
We both were sceptical to begin with, as its a temptation to use when money is tight towards the end of the month.. but he has been told that the card is for buisness expenses only, and must be cleared each month.
This should free up around £100 a month that we have had to put aside for his travels.
Also, checking the credit file, it would appear that dispite his name being on the card, it is not listed with Experian, so there is no need for us to worry about breaching the terms of the DMP agreement.
Now, must be strongotherwise im sure he would be off to Thomas Cook, then to get a new car !! ...
It won't be on his credit file because it's in the company name, so it's theirs. Also, if it's being paid off every month, it sounds like a Business Charge Card, rather than a credit card.
We have similar at work, and it's actually in our terms and conditions with the bank that it won't be used for personal expenses, so even the Directors can't just decide to use it when they're stuck!
You'll find it will make such a difference to your pocket when he's not having to use household money to cashflow what is essentially his employer's expenses for travel. It's a good thing. You just have to make sure that in your mind, it's made of some futuristic material that will melt if it detects any of your own expenditure on it. :rotfl:
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Tell him he's lucky he got to spend his money on himself. It was my birthday last week and I'm spending mine on school uniforms!
As in a person? I don;t think you have an individual case worker with CCCS. Well I don;t, but then things could have changed since I signed up!LBM - 11/08
DMP - 12/08 - £37,255
DFD - [STRIKE]03[/STRIKE] 02/13 - [STRIKE]£6,454[/STRIKE] £3916 to go! (Unless my PPI & FOS claims are upheld, then it'll be earlier!)0 -
Can't remember if I posted in here about this or not...
The only account we don;t get a statement for is the now closed, OD account.
Mr BR has written to the bank to request statements, we got a phone call saying that they don;t deal with it at branch level any more and it's now with 'collections' She agreed to forward on the letter.
So far, no reply and she says she doesn't have a direct address for that dept.
I have her name and number so could ring and speak to her again, but not sure it would do any good. Any suggestions?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 3080 -
Hi all,
I have two overdrawn accounts with Lloyds TSB which are going on my DMP. My own account has very few DDs on it, now all the ones to creditors have been cancelled, and I switched them over myself.
My husband changed his account(which is in credit) and they switched the DDs straight away.
But they they have not switched the DDs from our joint account (£1400) overdrawn. My husband contacted HSBC (our new bank) to see what was going on, and they had written to Lloyds 4 times with no reply. Is this normal? In the end we printed off a list of DDs and faxed it to HSBC.
Apart from the above overdraft and a small loan for double glazing which happened to be in my name all the debts are mine and until 5 weeks ago my husband did not know about them. About half the debt was ran up when I had post natal depression (I bought five Prams :eek:) and the rest is increases from repeated consolidation and drawing cash out on CCs to cover the cost of the loans which I know is madness. My husband was very sweet when I told him, he said what did you spend it on? I did not really know because we don't have anything flash, I think he wanted to know where I had hidden the Ferrari! The answer to what I had spent it on was 'interest':oISA £1675 MiniMoohound savings £3685.86 :T Plus £3800 CTF
'MrMoneyMuststache' my new hero, Martin Lewis my long time hero
Poacher turned Gamekeeper
Roadkill rebel No 52 Aug £1.34p Sept 24p Oct 5p Nov 5p Sealed pot Challenge No 403 £176.66(2014) :staradmin NOV NST No 200 -
Sorry for being special...I notice in some peoples posts and signatures it says LBM - what is this?
Quite new to this whole Debt free thing:o
thanks0 -
willeynotwiley wrote: »Sorry for being special...I notice in some peoples posts and signatures it says LBM - what is this?
Quite new to this whole Debt free thing:o
thanks
means light bulb moment - when you realise you can't go on the way you are and things have to change xxxLife is too short not to love what you do.0 -
M&S have reached a whole new level with us today with a letter in response to our FOS complaint.
According to this letter, they have not stopped interest because we are within our minimum payment and so they suggest that we contact CCCS and ask them to reduce their payment to M&S and they will then stop interest. They then go on to suggest that we keep doing this and each time, re reach minimum payment level, we then ask CCCS to reduce the payment again.
WHAT? :wall:
Current monthly payment is around £150, according to M&S minimum payment is £140, not what it says on our statement but hey let's go with the flow. So they are sugesting we contact CCCS and ask them to reduce the payment to £120 and then they will be happy to stop interest. They then say that when the minimum payment goes below £120, we reduce it again and so on.
DOUBLE WHAT?? :wall::wall:
This is madness. Current payment of £150 includes around £85 interest. We haven't asked yet but am sure CCCS won't agree to drop their payment because then it won't be a fair distribution across our debts. We are also not convinced that M&S will not protest if we drop, and continue to drop, the payment and/or not stop interest anyway.
Oh and as an added bonus, they also told us that they will be re-adding interest on the CC as soon as that reaches minimum payment too and suggested we take the same approach with dropping payments to that.
HH - I know M&S are on your favourites list too. Have you received any similar nonsense?
Anyone got any ideas on how to deal with this?
Please remember it's not just any financial nonsense, this is M&S financial nonsenseLBM 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 ThreadsMortgage free 3rd July 2014 - Grateful thanks to the 2013/14 MFW threads"Debt is normal. Be weird!" Dave RamseyProud to have dealt with our debt0 -
Hi TTFTM
It reads as crazy what M&S are suggesting but I guess it makes sense in the world of automatic systems.
If you could arrange to pay the minimum or less then maybe you could save the extra £10 and then just make an overpayment every now and again to clear it a bit? That way you wouldn't pay interest and would still pay the same amount each month but clear it quicker.0
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