DMP & Mutual Support Thread - Part 8

Growurown

wannabee_in_credit wrote: »

PAD = Payment a day
I don't do it, but I think it's where every day you round your bank balance down to the nearest £, or £5 and make a small payment towards a debt. Small, but done every day then it adds up to loads.
xxx

Thank you:D

Time_to_face_the_music wrote: »

It just means a payment a day hence PAD. We all pay an amount every day towards one of our debts or for those not in debt, towards savings etc.

I generally round up the odd money in our bank account each day and pay it to the NatWest OD which is still charging interest. If I make any good ebay or Amazon sales, I try and add some of that too. I checked earlier and over the course of the last month, the PADs have added up to a tiny bit more than the interest NatWest charged

Check it out

https://forums.moneysavingexpert.com/discussion/4045923

Thanks TTFTM.

I did check it out. Gosh there is just so much to this website to still discover. It works well for you TTFTM if it is covering your Nat West interest. Keep saying this but I really must get into Ebay.

Time_to_face_the_music

Give ebay a go. It never ceases to amaze me how our clutter is someone else's treasure

ailz95

maccymum wrote: »

we do that also
a friend of mine gave me a wee tip, if you shop on a fri, nx week do a sat, then sun.....then every 6-7 weeks you should have an extra week shopping money....think i maybe try that one

have a great sunday all xx

We shop every 8 days - hubby has a croissant for breakfast and they come in a pack of 8 - it works out really well.

tricky_plus

Hi everyone, just after a bit of advice.

I've been on a DMP with CCCS for a bit over a year now, all going really well, debts going down nicely, albeit 3 years to go . It's all been going really smoothly so far but next month I'll have to drop my payment down substantially due to the arrival of our first child. This should be for one month only hopefully, just to cover loss of earnings while on paternity leave.

I'm worried that doing this will really upset things with my creditors who have until now been great with accepting lower payments and stopping interest.

Does anyone have any experience of this?

Hopelessly_Hopeful

tricky_plus wrote: »

Hi everyone, just after a bit of advice.

I've been on a DMP with CCCS for a bit over a year now, all going really well, debts going down nicely, albeit 3 years to go . It's all been going really smoothly so far but next month I'll have to drop my payment down substantially due to the arrival of our first child. This should be for one month only hopefully, just to cover loss of earnings while on paternity leave.

I'm worried that doing this will really upset things with my creditors who have until now been great with accepting lower payments and stopping interest.

Does anyone have any experience of this?

Hi

Most importantly congratulations on your impending arrival and I hope all goes smoothly for you.

Changes for whatever reason probably temporariliy destabilise the DMP as it kicks off computer automated madness.

If I were you I would write to each creditor explaining the situation and when you expect them to return to normal and the reasons why the drop. Also state that it is acting upon CCCS advice. If the madness is going to kick off it will...... but then you can write again lodging a complaint, asking them to treat as a complaint, showing you were a responsible debtor, acting under advice of the recognised charity and keeping them informed and showing commitment to pay your debt. If they don't then play ball report them to FOS.

In other words is will work out in the end but you may have a faff and some letters to write. You will no doubt be sending cards for the new arrival so it is just a bit more ink. Keep in mind what is important here. They can have your money but not your life.

HHx

tricky_plus

Thanks HH, all sounds like good advice to me. Basically expect some madness.

Writing the letters seems like a great idea and I am trying my hardest to get these debts sorted.

Thanks again

Chris_G77

Can anyone advise me?

I have had my DMP going for 3 years now and down to 8 payments to go, I've never missed a payment but last week the car failed the MOT and it cost £500 to fix it, the car is necessary and it's wiped me out, my DMP is £701 per month so I only have £200 left over to pay the CCCS unless I borrow it.

Should I contact them and ask for a freeze for this month only?

Anyone had anything like this?

Thanks in advance

Hopelessly_Hopeful

Chris_G77 wrote: »

Can anyone advise me?

I have had my DMP going for 3 years now and down to 8 payments to go, I've never missed a payment but last week the car failed the MOT and it cost £500 to fix it, the car is necessary and it's wiped me out, my DMP is £701 per month so I only have £200 left over to pay the CCCS unless I borrow it.

Should I contact them and ask for a freeze for this month only?

Anyone had anything like this?

Thanks in advance

Hi

Great news you are almost there. Sorry to hear about the car... so close!

Call CCCS, they like to think they are advising you to do this rather than you telling them that is the situation.

Comments to Trickyplus as above apply.

Good luck.

Please let us know how you get on. People say they appreciate these forums but they only work if people join in. So even if we dont consider ourselves in a position to offer advice on a particular matter, updating the board on how you get on then in turn helps others if you see what I mean. If people just take, ie dont feedback or support others through advise or emotional support then forums like this wouldn't work. We are stronger together.

HHx

Tigsmom

Time_to_face_the_music wrote: »

Give ebay a go. It never ceases to amaze me how our clutter is someone else's treasure

I think I must've been buying your treasure. I've bought virtually every item of clothing, kids toys, birthday presents off ebay for the past 5 years! I have sold a few baby items back but never seem to make much profit once fees and p&p are taken off. Can't move for junk though so I need to give it another try. It's my mission once I packed the kids back to school. I reckon if I could offload the stuff in my garage, loft and bedroom I could probably bring my DFD forward a couple of years!:rotfl:

Tigsmom

tricky_plus wrote: »

Hi everyone, just after a bit of advice.

I've been on a DMP with CCCS for a bit over a year now, all going really well, debts going down nicely, albeit 3 years to go . It's all been going really smoothly so far but next month I'll have to drop my payment down substantially due to the arrival of our first child. This should be for one month only hopefully, just to cover loss of earnings while on paternity leave.

I'm worried that doing this will really upset things with my creditors who have until now been great with accepting lower payments and stopping interest.

Does anyone have any experience of this?

Sorry i can't help with the DMP as I'm just starting mine (MOT is due this month though :eek:) but one thing I will say is please don't be as stupid as I was with my first child and think that you need everything on the 'new baby' list and it has to be NEW. Most second hand baby items are a lot cheaper and virtually new as they outgrow everything in just weeks. Babies don't need a fancy bathing unit as a kitchen sink is perfect until they can sit in a big bath. Go straight for a cot/bed which will grow with your child. You don't need baskets, cribs etc as they soon outgrow them. I learnt my lesson with my second child but only after I'd spent a fortune in Mothercare with my first child.:( My daughter had 5 beds and 3 prams before she was 2! My son has had one of each (carefully chosen to grow with him). If you're not sure if you need it or not ask me! Good luck and remember all your little one really needs is milk and love.