DMP & Mutual Support Thread - Part 8

LaCoco

Hi, Blushing Rose, and thanks a million for your reply. It made me feel so much better - I keep veering between relief and terror, imagining all kinds of awful, bailiff-ridden scenarios - but it definitely helps to think of them all as 'just creditors'

Good luck to everyone else starting their DMPs, too. So glad I found this forum!

Allypops

Hi Wannabe in Credit,
I know it must seem disappointing to see the DFD slip back a bit, but remember that things may change - pay rise, OH may be able to return to work. Childcare costs might fall further (this one may be a longshot but depends on age of kids). So, in a few months you might be able to put your payment back up and see that DFD come closer again. Things will then seem better. Because our DMPs are (usually) over a period of years there are bound to be a lot of ups and downs. We just have to hope that the balance of ups to downs is in our favour! And plod on through the downtimes.

Allypops

speaky3

hi i am new to this, although i have been with a debt management company for nearly 3 years, and so far been fairly happy with them, however i was watching x ray tonight and they stated that the company i am with 'money worries' may be struck off, if this was to happen what would happen with all my creditors?

Time_to_face_the_music

speaky3 wrote: »

hi i am new to this, although i have been with a debt management company for nearly 3 years, and so far been fairly happy with them, however i was watching x ray tonight and they stated that the company i am with 'money worries' may be struck off, if this was to happen what would happen with all my creditors?

Hi speaky3
Do Money Worries charge you a fee for your DMP? If so, why not change to CCCS or Payplan who do this completely free of charge and every penny you send them goes to pay off your debt.

This forum is a really helpful and friendly place, stick around and I am sure someone will be along with some more advice soon

mon1o

Hi sorry to bother

My first payment into my dmp is being made on 1st April 2012. I have received letters from 2 creditors: Aqua card wont accept the dmp and Capital one have sent me letters saying they will accept but have issued notices of default on both accounts i hold with them.

Is it usual for a creditor to default from day 1? My concern is the letter they have sent says that my account may be passed to door-to-door debt collectors and i might get taken to court - the whole point of me entering into a dmp was to regain some control before the whole court scenario was likely to happen.

Im really rather concerned can anyone advise please? Also re: Aqua card - the letter from cccs said to just carry on regardless and i dont need to do anything can i just confirm this is correct?

ive also posted this in the cccs questions thread at the top of the forum.

BlushingRose

mon1o wrote: »

Hi sorry to bother

Don't be a silly billy.

mon1o wrote: »

My first payment into my dmp is being made on 1st April 2012. I have received letters from 2 creditors: Aqua card wont accept the dmp and Capital one have sent me letters saying they will accept but have issued notices of default on both accounts i hold with them.

Is it usual for a creditor to default from day 1? My concern is the letter they have sent says that my account may be passed to door-to-door debt collectors and i might get taken to court - the whole point of me entering into a dmp was to regain some control before the whole court scenario was likely to happen.

Some creditors do default right away, yes. This is nothing to panic about however. The CCCS will make their agreement with the debt collection agency as everything should go smoothly. It's extremely unlikely to get to court, they're just trying to scare you x

mon1o wrote: »

Also re: Aqua card - the letter from cccs said to just carry on regardless and i dont need to do anything can i just confirm this is correct?

Yes, that's right. The Aqua people are hardly likely to send your money back saying that they don't want it. Just make the arrangement with CCCS and wait and see what happens in a couple of weeks. To every letter they send saying they don't accept, just send them a letter back telling them you're with CCCS and to contact them They'll soon get bored.

mon1o

Thankyou BR - much appreciated.

ianmak

speaky3 wrote: »

hi i am new to this, although i have been with a debt management company for nearly 3 years, and so far been fairly happy with them, however i was watching x ray tonight and they stated that the company i am with 'money worries' may be struck off, if this was to happen what would happen with all my creditors?

Hi, as TTFTM says, take a look at the freeby companies:
www.cccs.co.uk
www.payplan.com
and this website for further help:
www.nationaldebtline.co.uk

Good luck!

Standingtall

wannabee_in_credit wrote: »

I just did my latest review with CCCS, and they've told me that my payments need to come down slightly to £239 a month (currently paying £274). I can't understand it - I want rid of this debt more than anything and I can't seem to make any headway with it.
My childcare costs have come down since January, but I have lost my tax credits, and OH is currently off work sick only on ssp. Plus my transport costs have increased with the price of petrol, and when it all pans out that is the figure I have left over. I asked her if I could keep paying the current figure and her exact words were, 'Your budget is far from extravagant and that's what the numbers say you have left each month, so I'd leave it at the lower number for now'. I've agreed.
Since I started my dmp my payments have lowered at every review and my dfd is getting further and further away.
I sound so ungrateful don't I? But I can't believe that with such a well paid job I have so little left over each month.
Sorry to just barge on here and post - I regularly lurk....

You know what - I reckon you are one of the squeezed middle! Like so many more on here!

So many of us have earned reasonable incomes and consequently credit was very available to us. I am not saying you lived the life of Riley and maybe I am incorrect. But I was certainly led to believe that it was 'normal' to have at least two holidays (not flash ones necessarily but at least two nonetheless), to try and have 'good food' ( shop in Sainsburys, eat some organic stuff, choose us blush tomatoes, olive bread etc), have a weekend in London to see the new Lloyd webber show, etc, etc.

As I say, not flash and, temporarily, affordable - until something goes wrong and then down it all crumbles, like a tower of playing cards! In my case I lost a second job due to Gov. cut backs and then my ex lost his job and thus my maintenance disappeared.

So easy too blame gov and ex hubby but where was my contingency?! I am a commercial manager and I would never dream of running a project without putting aside a percentage for risk / conintgency. Why did I not save for a rainy day.

Anyway, enough of my rant, it is just that when you said you were on a good income so why do you have so little money it struck a chord with me. I am a single parent yes, but nonetheless I will almost touch the 40% tax bracket next year (albeit with overtime), I earn more than I have ever earned, or even dreamed of earning, yet I am in a DMP. What a mess:mad:

wannabee_in_credit

Standingtall wrote: »

You know what - I reckon you are one of the squeezed middle! Like so many more on here!

So many of us have earned reasonable incomes and consequently credit was very available to us. I am not saying you lived the life of Riley and maybe I am incorrect. But I was certainly led to believe that it was 'normal' to have at least two holidays (not flash ones necessarily but at least two nonetheless), to try and have 'good food' ( shop in Sainsburys, eat some organic stuff, choose us blush tomatoes, olive bread etc), have a weekend in London to see the new Lloyd webber show, etc, etc.

As I say, not flash and, temporarily, affordable - until something goes wrong and then down it all crumbles, like a tower of playing cards! In my case I lost a second job due to Gov. cut backs and then my ex lost his job and thus my maintenance disappeared.

So easy too blame gov and ex hubby but where was my contingency?! I am a commercial manager and I would never dream of running a project without putting aside a percentage for risk / conintgency. Why did I not save for a rainy day.

Anyway, enough of my rant, it is just that when you said you were on a good income so why do you have so little money it struck a chord with me. I am a single parent yes, but nonetheless I will almost touch the 40% tax bracket next year (albeit with overtime), I earn more than I have ever earned, or even dreamed of earning, yet I am in a DMP. What a mess:mad:

I was very much brought up in the world of 'buy now, pay later', and I squandered my cash on going out, new car, 100% mortgage etc etc. I was always going to pay it back later, because I'd be rich by the time I was 30. Here I am, I'll be 35 in a couple of weeks, living more frugally than I've ever done. I've learned a really big lesson, but I hate that on paper I appear to be well off, when the reality is far from it. My sister is a PhD student, mainly on benefits, and she seems to be better off financially than me. She's never squandered, but always seems to be able to afford the latest gadgets, and she runs 2 cars etc. I don't know how she manages it when I can't.
Thanks for replying standingtall - it means a lot to me to know that I'm not the only one...