DMP & Mutual Support Thread - Part 8

antonic

katy_ann wrote: »

A quick question about my DMP - my first payment goes out on 1st November, how do I know if any of my creditors have frozen the interest? Do they write to me or do CCCS inform me? Any help apperciated Thanks x

I dont know about CCCS, but with Payplan (who my DMP is with) , I can log into my account and check the original balances with current balances.

If the balanced has gone up I have been charged (this happened with HBOS - Thanks Guys !) but Capital One & Cahoot didnt).

CCCS should allow you to log on and check.

DMPhereIcome

antonic wrote: »

I know that feeling myself, please keep us updated on progress.

DMP....£176.51 a month....for six and a half years :eek:

Do I just get on with it or should I delay a bit to save a 'pot'?

No wonder I'm In a mess - I've been paying nearly £500 a month towards all my debts leaving nothing to live on (except credit!)

Blimey!

antonic

DMPhereIcome wrote: »

DMP....£176.51 a month....for six and a half years :eek:

Do I just get on with it or should I delay a bit to save a 'pot'?

No wonder I'm In a mess - I've been paying nearly £500 a month towards all my debts leaving nothing to live on (except credit!)

Blimey!

Start the DMP straight away, quicker you start the quicker you will clear it !.

Before my DMP started I was paying approx £500/mth, DMP started and I was paying approx £230/mth.

Remember that you are allowed specific amounts for items like shopping etc, so this means you have less to spend on your debts !.

My DMP was originally for 87 months with a DFD of Mar 2013, its now 84 months with a DFD of Dec 2012.

katy_ann

antonic wrote: »

I dont know about CCCS, but with Payplan (who my DMP is with) , I can log into my account and check the original balances with current balances.

If the balanced has gone up I have been charged (this happened with HBOS - Thanks Guys !) but Capital One & Cahoot didnt).

CCCS should allow you to log on and check.

Thank you! I will log on and check! x

Hopelessly_Hopeful

DMPhereIcome wrote: »

DMP....£176.51 a month....for six and a half years :eek:

Do I just get on with it or should I delay a bit to save a 'pot'?

No wonder I'm In a mess - I've been paying nearly £500 a month towards all my debts leaving nothing to live on (except credit!)

Blimey!

.


Individual choice.... but I'd do a couple of months of tokens but you must be disciplined with the emergency fund.



Good luck whatever you decide

HHx

Hopelessly_Hopeful

katy_ann wrote: »

A quick question about my DMP - my first payment goes out on 1st November, how do I know if any of my creditors have frozen the interest? Do they write to me or do CCCS inform me? Any help apperciated Thanks x

Hi

You will not find this information out from CCCS. Sometimes the creditors tell you, sometimes they dont even if they have frozen it! Need to check your statements, this keeps you in control. Often takes a few months for creditors to settle down so especially the first month it may feel like the debt gets worse before it gets better.

Good luck

HHx

DMPhereIcome

Hopelessly_Hopeful wrote: »

.


Individual choice.... but I'd do a couple of months of tokens but you must be disciplined with the emergency fund.



Good luck whatever you decide

HHx

thanks, I think you're right...looking around the house at things that are on their way out such as the freezer etc makes me nervous about not having a contingency!

Hopelessly_Hopeful

DMPhereIcome wrote: »

thanks, I think you're right...looking around the house at things that are on their way out such as the freezer etc makes me nervous about not having a contingency!

Things will go wrong from time to time. You can always have budget review and reduce payment etc...... but....... DMP's appear to work best when there is the least amount of change, otherwise mindless computer madness kicks off.

Budgetting for most is very challenging at the start. Will be good to have a wee cushion.

Good luck

HHx

lizzy23

i made tokens for a month and stuffed the £500 that i would have spent on the cards in a savings acount, and its still there, my car did need some repairs last weekend, but i managed to pay for it cash

grant1wish

Hi all,

I am nervous about anything going wrong as I didn't. Wait a month before starting the dmp. I have no savings at all!

£666 first payment to cccs 1st nov. Perhaps I should have. Waited a month. That would have been a nice cushion.

G1W