New Dmp Mutal Support Thread

yellowmonkey

mioliere

I think I have missed a post here as i thought your reply was something crypic to do with My younger partner. Did give me a laugh though when read in relation to my previous post:rotfl: :rotfl: :rotfl: :rotfl: :rotfl:

YM

Scottishmummy

Time to go here too - school's out

Mioliere has given you a chance to change your sig YM

yellowmonkey

Hi..
Have changed Sig. Can I thank you all for this afternoon I feel so much better:T :T :T

Really must go and will catch up with you all later

Regards

YM

in_debt_again_but_dealing_with_it

I know what you mean about feeling left out yellowmonkey, it's happened to me, I'm sure its not deliberate. I think what happens is that sometimes posts are entered simultaneously and then its easy to be overlooked - but rest assured never forgotten. I'm 42 and sometimes feel 82 :eek: but mostly feel 22 :j and my oh is 45 and I love him but I envy you having a 27 year old partner!!
xx

in_debt_again_but_dealing_with_it

daysieblue wrote: »

Just sending out my first lot of DMP cheques - for my firm!!!!!

:mad: :mad: :mad:

db xxx

hi daysie
are you giving your firm the mse advice :rotfl:

lonely_2

Hello again

Has anyone spoken to Payplan or CCCS, and been advised about reclaiming bank charges? I emailed Payplan just now - and not sure whether it's because they don't like to put it in writing - but I was told that they cannot advise on this matter. Does anyone know why? I guess it's because they are funded by creditors but surely they must be able to give objective advice on the consequences if you pursue this line of action?

Please help anyone??

in_debt_again_but_dealing_with_it

I asked on different threads and the response has alwys been "go for it", I think the reason the dmp providers are reticent is because any money you receive is supposed to be distributed evenly through to your creditors and often when reclaiming bank charges they are often used to pay off one creditor (o/d etc) however anything legal that contributes to repaying the debts isn't condemned. Does that make sense?

amani_2

lonely wrote: »

For those of you wondering what an IVA has to do with equity in your house, I feel that I may be able to help a bit. It was one of the main reasons I didn't go for an IVA.

An IVA works pretty much on the same principle that a DMP does - you do an income and expenditure, and the surplus is what you pay your creditors. However, IVA fees will also come out of this surplus (average is about £8K in total), the IVA will usually last for 5 years max, and everything is legally binding so charges/interest automatically stops. If you have equity in your home, and during the term of the IVA you will have paid less than the full amount you owe, you will usually be forced to free up a percentage of the equity on your home by remortgaging. This is usually done as a condition of the IVA, normally in the fourth year (obviously with house price rises it is likely they will get more money this way - the b******s).

Apart from this, the reason I didn't do an IVA is because on your credit file it is considered worse than defaulting and the consequences are more severe.

THANKS LONELY That is very helpful and answers all my questions!

by the way Im 40yrs and my hubby is 33yrs just thought i'd join in!

newlywed

Just been to A&L and must have got the dimmest staff member. Can't understand why I wouldn't want an overdraft. She says I could have a current account but request not to have an overdraft. Says that if I've looked on the internet then that's all of it (but it only lists 2 accounts on the internet whereas the book lists 5!!). Can't tell me which accounts have a cheque book or electron card and tells me to look at the leaflets.

So have applied online for a current account but ticked No overdraft, no linked credit card.

Will wait and see what happens.

daysieblue

in_debt_again_and_stupid wrote: »

hi daysie
are you giving your firm the mse advice :rotfl:

Believe me, I'm trying. You would think that as the accountant I would have some influence over where the money gets spent! Still, drip, drip drip!!!

db xx