DMP & Mutual Support Thread - Part 8

Growurown

Time_to_face_the_music wrote: »

Am very glad to hear it's all going well and that you already have a budget worked out for Christmas :T

Ooh do we have to talk about Christmas? I love the festivities but finding the cash is a headache. I don't really want to think about it yet.:eek:

I have reached my 750th post so now have a bronze medal. I was thinking that if there had been a financial Olympics sponsored by our creditors I would have got the gold for the financial ineptitude catagory:D

Hopelessly_Hopeful

Growurown wrote: »

Ooh do we have to talk about Christmas? I love the festivities but finding the cash is a headache. I don't really want to think about it yet.:eek:

I have reached my 750th post so now have a bronze medal. I was thinking that if there had been a financial Olympics sponsored by our creditors I would have got the gold for the financial ineptitude catagory:D

Yay, well done on the medal. :T

HHx

Allypops

I've still only got one star :cool:

antonic

I have today written to my 4 creditors (after checking with Payplan first !) to get the balances on my accounts, as my DMP is supposed to end on 2nd December this year (Payplan are quoting me a figure but I want an up to date one).

I need them to plan ahead for any nasty surprises I may find - I already know that HBOS have charged interest in the past, but Captial One & Cahoot havent (to date) and neither has Santander on my overdraft.

In December I would have completed my DMP of 84 instalments.

For people worrying about your creditors NOT accepting you DMP I wouldnt worry, as long as you stick to the proposed payments and make them on time you wont have problems because you are making payments - if it went to Court they would be laughed out of Court BECAUSE you are paying.

I know what the stress is like at the start when you start the DMP journey, because I have been there - one of my creditors (HBOS) rang me every day for at least a month demanding payment, I told them that I was setting up a DMP and they should talk to PayPlan.

Once my DMP was set up in Dec 2005 and first payment was made, I didnt have another call, I have had default letters from all my creditors, of which the last one will drop off on 24th December 2014 but as I am not planning on getting credit again that doesnt bother me !.

To all of those starting their debt free journeys (Grant 1 Wish et al) remember YOU are control because YOU have faced upto the situation and are dealing with it, you cant pay money you havent got and you are still entitled to live, even though your on a DMP.

Here endeth the lesson and good luck to you all, from someone who will shortly be debt free.

lizzy23

antonic wrote: »

I have today written to my 4 creditors (after checking with Payplan first !) to get the balances on my accounts, as my DMP is supposed to end on 2nd December this year (Payplan are quoting me a figure but I want an up to date one).

I need them to plan ahead for any nasty surprises I may find - I already know that HBOS have charged interest in the past, but Captial One & Cahoot havent (to date) and neither has Santander on my overdraft.

In December I would have completed my DMP of 84 instalments.

For people worrying about your creditors NOT accepting you DMP I wouldnt worry, as long as you stick to the proposed payments and make them on time you wont have problems because you are making payments - if it went to Court they would be laughed out of Court BECAUSE you are paying.

I know what the stress is like at the start when you start the DMP journey, because I have been there - one of my creditors (HBOS) rang me every day for at least a month demanding payment, I told them that I was setting up a DMP and they should talk to PayPlan.

Once my DMP was set up in Dec 2005 and first payment was made, I didnt have another call, I have had default letters from all my creditors, of which the last one will drop off on 24th December 2014 but as I am not planning on getting credit again that doesnt bother me !.

To all of those starting their debt free journeys (Grant 1 Wish et al) remember YOU are control because YOU have faced upto the situation and are dealing with it, you cant pay money you havent got and you are still entitled to live, even though your on a DMP.

Here endeth the lesson and good luck to you all, from someone who will shortly be debt free.

Thank you for this post, my DMP is due to run for around the same length of time as yours, its a real motivator for me to read this from someone at the end , i am already coming round to living a live without credit, scary as it is but its got to be a good thing

grant1wish

Thanks Antonic,

Your words, and indeed every single person on here that has commented on my situation have been a great help.

I opened a Natwest account yesterday, and am going to start sorting out the letters for my creditors today.

My main points of worry at the minute are the potential of my bank to carry out off setting when I get paid tomorrow ( I dont think they will but I am paranoid) and also that my overdraft is in joint names. Everything else is in my sole name apart from our current account. CCCS have said this will be OK to still be a single application but I am worried that they might try and enforce my wife to contribute from her wage that is currently kept completely seperate with a different bank? What do you guys think?

Is it worth changing the account to a single account in just my name or is it too late for this/not worth it?

Also, if they do not accept the DMP and keep adding interest/charges how will I ever get to the end of the DMP because the balances are surely just going to stay the same. Perhaps I am being stupid here!

Thanks as always

G1W

AmyV_2

grant1wish wrote: »

Morning All,

Thanks for all your help so far, and the virtual cuddle last night!

After sleeping for 2 hours I woke up and couldn't get back to sleep, and the wife is not currently acknowledging me.

During our heated conversation she just kept asking me what happens if one of the creditors does not accept the DMP and I couldn't answer her as I am not sure. Can someone advise please.

I have a list of jobs to do to try and get it all sorted for the 1st Nov. I am planning on going to Natwest today, but it looks like they take a payment from my current account to verify my details. I do not have the £1.10 in their so am guessing this will bounce. I was hoping by going in to a branch with my passport they might not have to do this.

Thanks again everyone

G1W

You did the right thing telling your wife. It must have been a big shock, but she's just got to work it through her system, but she'll see you are doing the right thing. Re the DMP, like others say, some creditors refuse just to try to force you to make higher payments, but actually there is no point in refusing.

CCCS or Payplan will just carry on sending them the reduced payments per the DMP, and eventually they will come round to the fact they are not getting any more.

You sometimes get threatened with allsorts, but it is extremely rare for any of it to come to fruition, its just all hot air. (I can say that in hindsight, at the time though I was terrified!) We had one nasty creditor who asked for a CCJ, but it turns out that hasn't been a problem at all and I wouldn't care if we had a dozen CCJs.

Stick with it, it does get better!!

Time_to_face_the_music

antonic wrote: »

I have today written to my 4 creditors (after checking with Payplan first !) to get the balances on my accounts, as my DMP is supposed to end on 2nd December this year (Payplan are quoting me a figure but I want an up to date one).

I need them to plan ahead for any nasty surprises I may find - I already know that HBOS have charged interest in the past, but Captial One & Cahoot havent (to date) and neither has Santander on my overdraft.

In December I would have completed my DMP of 84 instalments.

For people worrying about your creditors NOT accepting you DMP I wouldnt worry, as long as you stick to the proposed payments and make them on time you wont have problems because you are making payments - if it went to Court they would be laughed out of Court BECAUSE you are paying.

I know what the stress is like at the start when you start the DMP journey, because I have been there - one of my creditors (HBOS) rang me every day for at least a month demanding payment, I told them that I was setting up a DMP and they should talk to PayPlan.

Once my DMP was set up in Dec 2005 and first payment was made, I didnt have another call, I have had default letters from all my creditors, of which the last one will drop off on 24th December 2014 but as I am not planning on getting credit again that doesnt bother me !.

To all of those starting their debt free journeys (Grant 1 Wish et al) remember YOU are control because YOU have faced upto the situation and are dealing with it, you cant pay money you havent got and you are still entitled to live, even though your on a DMP.

Here endeth the lesson and good luck to you all, from someone who will shortly be debt free.

Do you only need to do this because you do not get regular statements from your creditors? We still get monthly statements from every creditor and use these to immediately check every debt and update on CCCS website where necessary.

I have read a few posts on the main DFW thread re nasty surprises at the end of DMPs, there is no prejudice on my behalf but they all seem to be Payplan DMPs, and I just wonder how this has happened.

D3P0

On a lighter note... I had £6 in my account since about the 18th of September and don't ask how but I've managed to get through to payday. I had change all over the place. The car, the house, and by living on the minimum have made it through to payday!

Time_to_face_the_music

D3P0 wrote: »

On a lighter note... I had £6 in my account since about the 18th of September and don't ask how but I've managed to get through to payday. I had change all over the place. The car, the house, and by living on the minimum have made it through to payday!

Whey hey and well done :T

Even though often it's just a few pounds, and once it was pennies, I just love that feeling of still being in credit at the end of the month