New Dmp Mutal Support Thread

Gemmzie

A question for all you DMP-ers, especially the ones who are Self Employed or are building up extra income through ebay etc.

Are you going to use the extra money to live on as treats which aren't included in the budget? Or are you saving it as a lump to make F&Fs?

teecee152

hi everyone

just a quickie post to say good morning and wish every luck, hopefully will be able to catch up with everyone later if i can tear DD away from computer.

teecee

Ex-Spendaholic

Afternoon all. I'm making my first payment to CCCS today via the post office.

Does anyone know if the DD is compulsory? I quite like the idea of not having loads of DDs from my bank account but then I suppose it's one way of ensuring the payments are made.

Bluediamond

Hi everyone..and well done Kelly for getting the thread going.

I have been speaking to Kelly recently as she was looking for someone in a similar position to chat to as it can all get a bit scary now and again can't it and I have made a new friend !

My story is that me and my lovely hubby were just sinking, every day was ruled by how much money we didn't have and in October last year I had my lightbulb moment and decided to call Payplan. I think that we all agree that this site has been a revelation and provided us all with so much moral support and courage to do something about our problems. It gave me the strength to call Payplan, open my new account with A&L and start getting used to an Electron card and an account with no overdraft.
All we were doing was paying the minimum amounts and that is as good as just leaving the money laying around in the street at the end of the day. We were just giving it away and it left us with a £3K overdraft and loads on credit cards and other loans.
Everything suffers when you are in debt and you feel so alone. I eventually managed to tell my Dad and Mum and although they could not help out with the debt they have been a tower of strength and supported us all along.
We made our 1st Payplan payment in January and the second has gone out too. Just having problems with Lloyds now and they are a nightmare but it is so much better that I anticipated. Letters will cease and calls will stop as soon as they are aware that you are with Payplan or CCCS or doing your own DMP and it gets easier. I cannot express how much happier we all are and our children have got their happy Mum back too!..To all of us on this thread that are going into the DMP - Good Luck !!

Sally x

teecee152

Hi all!

Ex- Spendaholic - as far as i'm aware dd is not compulsory for CCCS i made 1st payment afew weeks ago and received a statement from CCCS a couple of days ago. There is a credit slip at the bottom of it and you can use that to pay at post office this will be the same every time you get your monthly statement from them showing what you've paid and how much debts are. Hope this helps.!

Sally hi hope you are well and not letting it all get you down too much, we are all the same here. Good Luck with your DMP.

teecee xx

Sea78

Gemmzie wrote:

A question for all you DMP-ers, especially the ones who are Self Employed or are building up extra income through ebay etc.

Are you going to use the extra money to live on as treats which aren't included in the budget? Or are you saving it as a lump to make F&Fs?

Hi
I'm letting OH keep 1/2 of what he getting as extra income as it stops the whining and moaning, but anything I make (Ebay, extra income etc) goes straight to a pot to save to either pay off a debt in full OR offer a f&F if/when it's appropriate. No point in the treats as otherwise I'll be on this damn DMP until 2026!

Edit:
That makes me sound terrible! What I mean is, he's happier if he has disposable income, I want the debt paid off so we've come to an agreement that he'll put some to debt, some to himself. However, the last money he got he kept...hmmm..

ashden

We started our DMP this month. Our first payments went out to all the creditors a few days ago, so we're just waiting to hear from them to see if they've accepted the offers.

Any extra money we make is being saved for settlement later on. The money in our budget for clothing, health, hair cuts etc is also being saved every month so we can dip into it if and when we need it.

smilealot

Just typed out a big message then it disappeared - aarrgh!!

Just wanted to say hi to everyone joining the group. Can't believe so many of us are in the same boat, I feel so much happier knowing you guys are around and understand what it feels like.

Quick question...
What's a F&F? Is it a final settlement, a reduced lump sum paid to one creditor to clear balance? Are the other creditors usually okay with this or are they unhappy that the money has not been shared between all of them??

Thanks!

P.S. I spent £50 on groceries tonight - two weeks worth, but still feel so guilty!!

95kelly

Hello Everyone!!
How are you all today?? Welcome to everyone whos joined our little thread!!
Lots of new friends!
Well i had some good news today, i wrote to HSBC a couple weeks ago to request they didn't add a £50 charge on my account in March and i have found out today that they aren't going to add it!!!! The first good thing they've done so far!!
Make my first payment tomorrow to CCCS and still no phonecalls as yet!!
i count everyday as a blessing!! LOL
Its nice to see so many people have added to this thread, its really comforting to know that there are lots of us in very similar situatuions.
Can't really chat to anyone else about this sort of thing!!
Next have accepted my reduced payments yesterday, so thats cool aswel
And a NSD today too, so all in all a good day!!
Hows everyones day been, hope not too bad.
Kelly x x

Sea78

smilealot wrote:

Quick question...
What's a F&F? Is it a final settlement, a reduced lump sum paid to one creditor to clear balance? Are the other creditors usually okay with this or are they unhappy that the money has not been shared between all of them??

Yes, it is. The other creditors usually don't know and as it then increases their share of the money, it's a bonus for them, especially as f&f's are often only successful with debt collection agencies.

Sea xx