DMP & Mutual Support Thread - Part 8

Growurown

mattf84 wrote: »

Ok so I've had a look and also added my wife's stuff on there as it didn't make much sense before with her 'wages' being actually just what she was paying towards the mortgage as she paid other bills...

Largely agree with Tigsmom on your soa although I think you could save on the satellite costs and you could look into combining internet and phone to reduce costs there too. We had an offer through from Sky for free broadband for a year, always worth looking at what else is out there and shop around.

Hopelessly_Hopeful wrote: »

Morning All

I paid £247 in interest this month which is poop but determined not to let the Preditors get me down, revenge a dish best served cold!

Hoping to hear from FOS re M&S any time soon. BC have acknoweldged my compliant and are still looking into it.

Onwards and Upwards all!

HHx

I agree that is poop, but glad to hear you are fighting back and not letting the bar stewards get you down:D

Tigsmom

Just a quickie. Had a letter from Tesco today saying they have accepted our DMP for a year anyway. Not sure what happens in a year but they also left a message on machine so DH is going to ring them now he knows they're onside. I'm thinking of ringing HSBC seeing as though they've just cashed both tokens without acknowledgement and I keep getting plagued with calls from India. Going to ring the 'if you are having difficulty paying' number and see where we're at. This DMP thing could really mess you up if you take it too seriously! It's good news, followed by bad, then good....

Growurown

Tigsmom wrote: »

Just a quickie. Had a letter from Tesco today saying they have accepted our DMP for a year anyway. Not sure what happens in a year but they also left a message on machine so DH is going to ring them now he knows they're onside. I'm thinking of ringing HSBC seeing as though they've just cashed both tokens without acknowledgement and I keep getting plagued with calls from India. Going to ring the 'if you are having difficulty paying' number and see where we're at. This DMP thing could really mess you up if you take it too seriously! It's good news, followed by bad, then good....

Yes lots of them say they will accept payments for a year or 6 months and you are left wondering 'well what happens then?' In my case they have just asked for another copy of our income and expenditure details from CCCS and we carried on pretty much as we did before. Yes things are a bit up and down when you start but it will settle down, and then you will wonder what you did all that worrying for:)

antonic

In my case, every year I have done a fresh SOA for Payplan, who then suggest upping my monthly payments, they then send my new SOA to my creditors.

My creditors have always acceppted my new SOA, with increased monthly payments.

I now have 4 months left on my DMP .

Time_to_face_the_music

Hopelessly_Hopeful wrote: »

Morning All

I paid £247 in interest this month which is poop but determined not to let the Preditors get me down, revenge a dish best served cold!

Hoping to hear from FOS re M&S any time soon. BC have acknoweldged my compliant and are still looking into it.

Onwards and Upwards all!

HHx

Morning Twin Geek

Haven't had all monthly statements in yet but we are already over £200 interest for the month and am panic stricken about M&S threat to re-add interest to CC as well as loan

Spoke to CCCS about M&S letter saying they would stop interest if CCCS would drop payments to them. CCCS replied that it's nonsense from M&S and they can't/won't do it so are awaiting FOS decision on both M&S and NatWest

If M&S reapply interest to CC or any other creditor decides to reintroduce charges, we are coming out of CCCS DMP and going self managed, then M&S can have as little as they want and everyone else can have more :mad:

matty2712

Just an Update,

Received a couple of letters this a.m, Capital 1 accepted DMP for a year, vanquis also accepted for a year 2 accounts, so has barclaycard accepted... Havent heared anything from Provident, is that good or bad news, still havent heared from Black horse, littlewoods and very or next.

So is this good or not so good news ???

Hunnies

Hi Everyone,

I've been lurking for the last couple of weeks and now I've read the whole thread I thought I should introduce myself and start posting.

We had our LBM two weeks ago on 4th August when we received a letter advising that our tax credits were being cut by £260 per month. We were only just scraping by each month using left over wages and putting the rest on credit cards and we knew the credit was about to run out so before we started missing payments we wanted to act on it quickly.

We thought our problems would be solved by switiching our mortgage to an interest only mortgage but one phonecall to NRAM shattered that hope. We had a massive panic and spent the whole weekend talking through what we could do and looking online for advice. I was thinking of an IVA but we said we wanted to pay back our debt and eventually we stumbled across this thread. After a lot of reading we spoke to CCCS and they went through everything with us and worked out that our £38,000 debt could be paid back via a DMP which was great news to us. In the last two weeks we've been busy setting up a new bank account, moving direct debits, sending letters to our creditor's and getting ready for the big change in our lives. We are so much happier already, just knowing that we are finally taking care of our debts instead of living on pennies each month and relying on credit cards. It feels wonderful to be 'free' from that lifestyle now and our budget means we have more money than we had before but obviously we don't have the credit cards to fall back on and to be honest we never want to see them again!

Our DFD is a long way away but for now we are focusing on getting on with our lives without worrying every day about an unexpected bill coming in. Once we've found our feet with the DMP we will look at our budget again and see if we can increase our payments which I suspect we can but we'll give it a few months first and build up a little emergency fund if we can.

It's amazing how much happier we both are already and it's only been two weeks, we feel like we can finally see a future without debt.

Our first payment to CCCS is on 1st September and we can't wait to see everything up and running. We're prepared for the phonecalls but after reading this whole thread we feel ready to handle them.

So, that's us for now. I'll be reading the thread regularly (and passing on all the helpful advice to DH) and hope that one day we'll be able to help some newbies as much as you guys have helped us already. This really is an amazing thread and the support is incredible so thank you for helping us get through the last two weeks, even though you didn't know you were helping us!

RunForYourMoney_2

Hunnies wrote: »

Hi Everyone,

I've been lurking for the last couple of weeks and now I've read the whole thread I thought I should introduce myself and start posting.

We had our LBM two weeks ago on 4th August when we received a letter advising that our tax credits were being cut by £260 per month. We were only just scraping by each month using left over wages and putting the rest on credit cards and we knew the credit was about to run out so before we started missing payments we wanted to act on it quickly.

We thought our problems would be solved by switiching our mortgage to an interest only mortgage but one phonecall to NRAM shattered that hope. We had a massive panic and spent the whole weekend talking through what we could do and looking online for advice. I was thinking of an IVA but we said we wanted to pay back our debt and eventually we stumbled across this thread. After a lot of reading we spoke to CCCS and they went through everything with us and worked out that our £38,000 debt could be paid back via a DMP which was great news to us. In the last two weeks we've been busy setting up a new bank account, moving direct debits, sending letters to our creditor's and getting ready for the big change in our lives. We are so much happier already, just knowing that we are finally taking care of our debts instead of living on pennies each month and relying on credit cards. It feels wonderful to be 'free' from that lifestyle now and our budget means we have more money than we had before but obviously we don't have the credit cards to fall back on and to be honest we never want to see them again!

Our DFD is a long way away but for now we are focusing on getting on with our lives without worrying every day about an unexpected bill coming in. Once we've found our feet with the DMP we will look at our budget again and see if we can increase our payments which I suspect we can but we'll give it a few months first and build up a little emergency fund if we can.

It's amazing how much happier we both are already and it's only been two weeks, we feel like we can finally see a future without debt.

Our first payment to CCCS is on 1st September and we can't wait to see everything up and running. We're prepared for the phonecalls but after reading this whole thread we feel ready to handle them.

So, that's us for now. I'll be reading the thread regularly (and passing on all the helpful advice to DH) and hope that one day we'll be able to help some newbies as much as you guys have helped us already. This really is an amazing thread and the support is incredible so thank you for helping us get through the last two weeks, even though you didn't know you were helping us!

Good luck, that is an extremely positive post, and has given me some new found hope and "light at the end of the tunnel", as my Wife and I have just started out DMP today. Unforunately it wont stop our marriage ceasing but at least we can in not too distance future has some hope that debt wont again alter our lives?

Let us know how you get on

Tigsmom

Hi Hunnies,

Welcome and well done for getting this far. Our DMP starts on 1st September too but it has taken longer for us to get as organised as you! Our LBM was at the end of June. Our tax credits were also withdrawn in April and having hung on by the skin of our teeth for several years that was the final straw. We are still waiting to hear from some of our creditors but CCCS has written to them so I think the letters will soon start filtering through. Our total debt is around £19k and we know that (as long as we continue in our current employment) our financies will improve in a couple of years so we should be able to overpay a bit then. We were hoping to manage until then without the DMP but were fighting a losing battle. You sound very clued up and positive. I hope that maybe some of my posts have helped. You will get lots of help on here if you ask even if it's just a pick-me-up. It's just good to know that you are not alone isn't it? Good luck.

Time_to_face_the_music

matty2712 wrote: »

Just an Update,

Received a couple of letters this a.m, Capital 1 accepted DMP for a year, vanquis also accepted for a year 2 accounts, so has barclaycard accepted... Havent heared anything from Provident, is that good or bad news, still havent heared from Black horse, littlewoods and very or next.

So is this good or not so good news ???

Hi Matty :hello:

Some creditors never write to accept your DMP. 6 months down the line, we have some who haven't but they accept the CCCS payments and have stopped or reduced interest so that will do for us