DMP & Mutual Support Thread - Part 8

Growurown

stupid-fool wrote: »

The responses of the creditors - non have written back to me yet

We didn't get many responses back either. For a lot of them the first inclination we had that things were working was a statement showing no interest.

debtdawg

You are so very nearly there Antonic, although the slight delay maybe a little disappointing, to be able to see the debt free days so clearly in sight must feel amazing, well done

stupid-fool, we've had one letter back so far from the creditor letters we sent out just over a week ago. It was from MBNA to say thanks for letting us know about your financial difficulties, we've taken away your credit facilities but need to remind you to pay your minimum repayments to avoid interest and further charges which form part of our terms and conditions. Cheers then MBNA
I've just made our token repayments, some by online payments from my old Lloyds account and I've written two cheques to send for the loan repayments due this month for a token amount of £1. I'm also ready to send the letters to my bank (Lloyds) as all my direct debits have been transferred, eeeeeeeek!

Growurown- thank you for your continued support, it's really helping through these uneasy few weeks

sickasachip13

Hi all,
We're more than two years in - the DMP was a godsend to us. I realised I hadn't slept properly for months, possibly years, before we got it set up. It's ticking away nicely, all creditors bar one given 0% which is a great relief, the other one is charging nominal %. We've settled a couple of the smallest debts on F&Fs.

To all those starting - be pleased you've got started, yes it will be bumpy for a wee while, but hang on in there and soon you'll reach calmer waters.

In the SAAC household we have had some positive news on the jobfront so will be increasing our DMP payment very soon. All the better to clear the piggin' debt!

Onwards and upwards everyone
SAAC

stupid-fool

debtdawg wrote: »

stupid-fool, we've had one letter back so far from the creditor letters we sent out just over a week ago. It was from MBNA to say thanks for letting us know about your financial difficulties, we've taken away your credit facilities but need to remind you to pay your minimum repayments to avoid interest and further charges which form part of our terms and conditions. Cheers then MBNA

Yes, we've had that from Lloyds, but I was hoping for a letter with something like "Yes we agree to you making reduced payments of £xxx and have suspended interest payments until xxx". I guess I am an optimistic stupid-fool.

debtdawg wrote: »

I've just made our token repayments, some by online payments from my old Lloyds account and I've written two cheques to send for the loan repayments due this month for a token amount of £1.

I'm dreading this, starting 26th Nov, as I've never missed a payment before.

I would add, THANK YOU :T to everyone for their support. It really makes a big difference.

sickasachip13

Hi Debtdawg and Stupid-Fool

FWIW, MBNA never actually accepted our DMP on paper - ever. I nearly had a fit waiting for the letter telling us yay or nay, it never came. BUT, they did actually accept it from the start - how do we know this? Because they stopped % and charges on both our CC accounts (total owed about 9k) and have never reapplied them. Try not to worry.

SF - I remember that sinking feeling of preparing to send the token payments. Like you we'd never missed a payment - how had we done that? Cleverly (HAHAHA) we'd been juggling all the credit available and withdrawing cash to feed the bank account to pay the debts......... I wish we'd stopped earlier, we didn't actually consider an alternative to this bonkers 'coping' method until the credit ran out. But you know what, it was actually fine, you'll look back on this period soon enough with a very different, and more positive, perspective.

I now consider the credit industry to be a dirty, shady place designed to put people into debt with such high % rates that really it is the modern slavery. Consider how much we were all actually managing to pay off the original amount owed when we paid our minimum monthly payments..... if that ain't indentured servitude I don't know what is!

*climbs down off the soap box*
SAAC

Time_to_face_the_music

sickasachip13 wrote: »

In the SAAC household we have had some positive news on the jobfront so will be increasing our DMP payment very soon. All the better to clear the piggin' debt!

Great news SAAC :j

debtdawg

I now consider the credit industry to be a dirty, shady place designed to put people into debt with such high % rates that really it is the modern slavery. Consider how much we were all actually managing to pay off the original amount owed when we paid our minimum monthly payments..... if that ain't indentured servitude I don't know what is!

I totally agree and I've really noticed all the 'buy now pay later' ads on TV regarding christmas presents etc this year.

jubilee14

I totally agree and I've really noticed all the 'buy now pay later' ads on TV regarding christmas presents etc this year.

debtdawg ive noticed that too. buy all you want and dont worry when your trying to save for your holiday or next xmas you'll still be paying off that toy that TOmmy broke by end of Jan!!!

antonic

I am sure you can ask, but I am not sure if they will agree.

Aferall you know when Christmas is every year and perhaps you hould have been budgeting for it during the year ?.

Hayz wrote: »

I'm in a DMP with the CCCS. However I need the monthly payment next month for Christmas presents. Can I lower the repayment for this month for this reason?

Thanks

NaughtySpot

Hayz wrote: »

I'm in a DMP with the CCCS. However I need the monthly payment next month for Christmas presents. Can I lower the repayment for this month for this reason?

Thanks

I don't think they will TBH. Payments can be altered for unexpected payments (e.g. house/car repairs) but Christmas isn't that. Part of your budget should be for presents (it is for us), I supplement this with eBay selling and cutting in other areas.