DMP & Mutual Support Thread - Part 8

Tigsmom

Right, quick update. Only got one call yesterday and none (so far) today - YIPPEEEE :j
Also got a weird letter from HSBC saying from October they will change my payment date to 2nd, as requested :think: I haven't requested this, just asked them to move the date so that it fits in with CCCS. I'm pretty sure 2nd won't do this as our DD goes to CCCS on 1st

Anyway, got an email from CCCS saying they have sent payment details to HSBC so hopefully they will get with the programme soon (although CCCS say this can take 28 days).

Will give it a few days then might call the number Bertman gave me. Oddly it's none of the numbers I've had from them so far :rotfl:

Hope you're all ok out there in DMP heaven

maxdickinson2003

Hi just wanted to warn anybody starting a DMP with CCCS.I made my firstpayment towardsmy DMP in June andwas expecting the first payments to be paid off my debts at the end of July.I started getting statements from my creditors showing no payments had been made and I went on line to check my DMP statement. Despite me having now made two payments to CCCSthey had not paid anything off my debts.I contacted them immeadiately to ask why no payments had been made and was told there was an error on their system showing that payments should not be made to my debts until 2013!!:eek:
The lady who I spoke to was very helpful and they contacetd all of my debts to let them know of the error but unfortunatelypayments will not be made now until end of september:mad:.
Just to warn everybody to check that CCCS actually make the payments on your behalf.Obviously this situation did not help at an already very stressful time and I am still worried about the fact that nothing will be paid off my debts for another month despite the reassurances from CCCS that they have contacted all of the companies I owe money to and explained the situation.

teddyp

Tigsmom wrote: »

We are just starting ours and are on the standard variable. I'm a little nervous about not being on a fixed rate but then again when we were we were paying £150 a month more. I guess it depends how far away your DFD is and how much you owe. We were just sick of 'stumbling along' and felt that all the time we were scrimping our children were getting older and we couldn't give them a good quality of life. We just wanted to get our DMP started asap.

thanks for the reply Tigsmom... I totally feel the same as you and your right the sooner we start the sooner it be done. The 6 yrs with defaults is my only niggle but I guess if the rates go up then we ll be ok if debts are being paid off.. if that makes sense lol. good luck with yours xx

Tigsmom

teddyp wrote: »

thanks for the reply Tigsmom... I totally feel the same as you and your right the sooner we start the sooner it be done. The 6 yrs with defaults is my only niggle but I guess if the rates go up then we ll be ok if debts are being paid off.. if that makes sense lol. good luck with yours xx

I would like to think that in the current economic climate that the mortgage rates won't rise by much (or everyone will end up on a DMP:rotfl:). If they do rise your dmp payments will be adjusted accordingly so that you can still pay your mortgage. Ok so you (and me) will not be able to get another fixed rate for 6 or so years but I feel like it may take that long before the economy is stable enough to justify a large rate increase anyway. If you have a lot of debt you might be turned down for a fixed rate anyway and you would have wasted those couple of years waiting when you could have been well on your way to your DFD. All the best to you.

Grand_Benders

teddyp wrote: »

thanks for the reply Tigsmom... I totally feel the same as you and your right the sooner we start the sooner it be done. The 6 yrs with defaults is my only niggle but I guess if the rates go up then we ll be ok if debts are being paid off.. if that makes sense lol. good luck with yours xx

I totally get what you mean.

Our fixed rate just ran out in July (I'd completely forgotten it was fixed at all) and our mortgage went up by £60 in August. The letter just came in as we were setting up the DMP so I called CCCS to let them know and they adjusted the DMP to take account of this and reduced the amount going to the creditors, so that we could cover the higher mortgage.

This has actually given us a bit of a morale boost (I know, that seems odd) as we've realised that, whilst we'd previously lived in fear of the interest rates going up and being forced to sell the house in a difficult market, we can now manage increases within our DMP and stay in our house till we're ready to move longer term.

Good luck with the start of your DMP and welcome to the 'club'

Grand_Benders

Time_to_face_the_music wrote: »

Hi teddyp :hello:

I can't find the post at the moment but I am sure someone posted quite recently about CCCS giving them advice on a mortgage. It may possibly have been Grand Benders, does anyone else remember this?

Anyway it could be worth asking CCCS their opinion, they are extremely helpful :T

It was, indeed, me. They said they would refer me to Compass mortgage brokers (who specialise on finding deals for people with credit problems, etc), but I haven't actually heard anything from them. I was going to speak to them about getting that part of my mortgage onto a better deal now that the fixed rate is done. Must get back onto CCCS and ask them about it again.

AmyV_2

teddyp wrote: »

thank you growurown....Im going to speak to the cccs and see what they suggest... i'm just worried that if we don't fix our rate before then, we will have no chance for 6 more years from what i've read about defaults that you will get when start a dmp.It would be ok if rates stay the same or less but who knows what will happen.

Thanks again for your reply x

Hi TeddyP, let us know how you get on. I think it depends what you are intending to do. If you are staying with the same lender and you haven't defaulted on your mortgage I don't think you will have a problem getting a fixed rate next April. A few months ago when there was talk of interest rates going up we decided to go back on a fixed rate just so we knew where we were every month. We have been on a DMP since end 2008 but we had no trouble at all getting a fixed rate with the same lender as we had never been behind on mortgage payments.

Good luck with it!

Time_to_face_the_music

Grand_Benders wrote: »

It was, indeed, me. They said they would refer me to Compass mortgage brokers (who specialise on finding deals for people with credit problems, etc), but I haven't actually heard anything from them. I was going to speak to them about getting that part of my mortgage onto a better deal now that the fixed rate is done. Must get back onto CCCS and ask them about it again.

Wow! I actually remembered something for a change :rotfl:

teddyp

Grand_Benders wrote: »

I totally get what you mean.

Our fixed rate just ran out in July (I'd completely forgotten it was fixed at all) and our mortgage went up by £60 in August. The letter just came in as we were setting up the DMP so I called CCCS to let them know and they adjusted the DMP to take account of this and reduced the amount going to the creditors, so that we could cover the higher mortgage.

This has actually given us a bit of a morale boost (I know, that seems odd) as we've realised that, whilst we'd previously lived in fear of the interest rates going up and being forced to sell the house in a difficult market, we can now manage increases within our DMP and stay in our house till we're ready to move longer term.

Good luck with the start of your DMP and welcome to the 'club'

Thank you grand benders ! That's great that they can adjust it and what a great way to think about it arhhh thanks for the best wishes x

teddyp

AmyV wrote: »

Hi TeddyP, let us know how you get on. I think it depends what you are intending to do. If you are staying with the same lender and you haven't defaulted on your mortgage I don't think you will have a problem getting a fixed rate next April. A few months ago when there was talk of interest rates going up we decided to go back on a fixed rate just so we knew where we were every month. We have been on a DMP since end 2008 but we had no trouble at all getting a fixed rate with the same lender as we had never been behind on mortgage payments.

Good luck with it!

Thank you amy thats really positive news ! yes we' re with Abbey and haven't ever been late on payment. I know it isnt always the best but ive always been on a fixed before it ran out earlier this year and i like knowing exactly what i pay every month without rate worrying lol. x