New Dmp Mutal Support Thread

lonely_2

I'm scared - even though I've done all the right things (writing letters, taking calls, making token payments), I haven't had half as good a response as all of you lot have had from your creditors. I don't know if it's because my debt is bigger (£50k), or because I have never missed a payment/made late payments up until now, or because my salary is good they think I can afford to pay more - which they should know I can't - but nobody has said they will freeze interest when I've asked them to over the phone. AMEX said they couldn't agree to it because they would just be giving me in effect a 5 year interest-free loan; HSBC wrote in a letter that they would accept lower payments but interest would continue; Barclaycard and Lloyds said that can only consider it when Payplan write to them (not a yes though); and Morgan Stanley said they would not accept a Debt Management Plan from me because the payments that Payplan will offer are only marginally smaller than my minimum card payments and that I should scrape the extra money together.

I am so scared that Payplan will get the same negative responses. What if they think that I can afford to keep paying interest and they don't care if it takes longer to clear my debt. My "plan" was to sort my situation out within 5 years, then get on with all the things I planned to do - start a family, buy a bigger house, maybe move abroad. I wanted to do all of this without telling my hubby but if in 5 years time, at the age of 35, I can't have children yet - he will know something is wrong. I feel like my life is being taken away from me. And I don't know why they are refusing to stop charging fees and interest? On good days I think maybe I'm being impatient - I only sent my letter on 22nd Feb and they have only just received Payplans letter - but on bad days I think that I am going to be the unlucky one who doesn't hear any good news from the creditors.

teecee152

lonely firstly sending you big hugs!:grouphug:

I have felt exactly the same as you, as have we all at times.
It's still really early days in the whole scheme of things so don't give up and i know it's hard but try to stay positive.

I have had a really good day today but I have resigned myself to the fact that somedays will be really bad!
We are all here for you and if ever you feel your spirits flagging just log on and one of us will be here.

I'm with CCCS but i assume payplan work the same, i was told that sometimes creditors can get funny with you, but you just need to explain that you are on a DMP, quote your reference number and if your dealing with nasty phonecalls ask them to contact you only in writing or you will make a complaint to the ombudsman for harrassment.

In the meantime just pay the amount requested by payplan and do not pay anyone else anything more. They will not like the fact that they have to share your payments to payplan with other creditors, but i was advised that eventually when they start to see that the payments are being made regularly by payplan they will accept.

If they want more, simply say "you have my breakdown of I + E as you can see there is no more money, I can't pay you what I havent got!!" and refer them back to Payplan.

You have come a long way so hang on in there, eventually everyone gets their money so it's in their best interests to accept!!

take care

teecee xx

daysieblue

Hi Lonely

You do sound down, and I can understand why. It's really hard starting out on this, and there are days when you really can't see how it will be better.

I'm sorry, I can't remember if you said there was a reason why you haven't told your OH about your problems, but if you can, I really think it would help. A problem shared and all that, I think that being able to unburden yourself to someone you love will really help you sort things out in your own mind, and maybe feel you're not doing it alone. It was the greatest load lifted when I fessed up to DH about a £10k loan he didn't know I had.

About your creditors, they basically will try anything to get more money out of you. As long as you make sure you continue to pay them the minimum you have promised them, chances are eventually they will come round, though it may take a few letters. Just make sure every time you have written correspondence to them you ask again for the interest and charges to stop. It's in their interests to try and weedle as much out of you as possible, and to get you to favour them against other creditors. You just have to stay firm.

db xx

Joek_2

Like most folk say, at the end of the day, it's in the creditors interests to accept the plan - whether that be immediately or eventually.

They don't want to take the matter to court unless absolutely necessary, and with a DMP, they can see that you are planning to pay them back as much as you can.

Yes, it might take a while, but they'll get most of their money back.

I'm just waiting for the phonecalls to begin now - I'm right at the beginning, but I'm not too worried anymore. I haven't got anything they can take from me really, so they can do their worst!

Don't worry, it will get better, I'm sure of it.

rustybucket

Well Lonely i'm 68K in debt so may have even more to worry about (sounds like i'm bragging about being further into debt, I'm not in case anyone thinks I am, that amount makes me feel such an idiot and that is not a generalised remark in case others are deeper in debt, I got me here and I think I was silly).

I had my phone call with Payplan the other day, the guy I spoke to was very helpful and I was on the phone for an hour. I have to say finishing that call I felt so much better. He warned me what may come but he seemed to think I had enough spare income each month to keep the creditors happy. Who knows, all I know is that the next couple of months will be a very bumpy roller coaster of a ride, and as I like roller coaster rides lets see if I come off the end of this ride with a smile on my face (bloody hope so).

Like others have said people will be here to advise you and give you some reassurance, well done the person who thought about starting this thread, and others for giving valuble information to us all, I have found it very helpful.

Fingers crossed for all of us, and lets hope we never ever again have to feel the way we do at this moment in time.

Ex-Spendaholic

Teecee, great day for you. :j :j

Lonely, they will accept. Give them time

JoeK, that's the attitude. How are you feeling? My colleague also has "flu". I've been reasoning with him half the morning that it's actually a slight cold but no he is dying.

Joek_2

Ex-Spend:

Heh. Nah, not dying yet. It'll take more than a runny nose and a heavy head to stop me...

It just irritates me more than anything else!

Still, it's giving me time (and plenty of excuses) to trawl through the forums for info

teecee152

Thanks Ex

I cant believe how good I feel now I have had the guts to ring them!!:j

just Co-0p bank now and Capital one to agree (pending I+E stuff from cccs) but it all looks positive at the moment. I am so glad I followed you're lead and took some control back.

Thank you!!!!:A

teecee152

Thats the spirit joek!!

hope you feel better soon!!!

scared_2

Thankyou to you all for replying to my last email. I think I'm going to get quite addicted to this site!!!!

LONLEY - Dont worry I feel just the same as you, we are in HUGE debt and can only afford to pay really small amounts each month (£12 to each) so I dont think they are going to be so kind to us. My DH has quite a big debt with MBNA which I think are going to be really hard on us. So dreading getting any calls from them. :mad: Esspecially with my hormones at the moment (pregnant)

Did someone mention in an email that we are meant to send all our cards back to the creditors????

I've received a letter from Northern Rock this morning to say that they have not received my last payment, so I'm plucking up the courage to call them!!!! Think I will leave it till Monday morning :eek: . CCCs have said to offer them £5 in my statement, but I cant see they will be too happy with that when I owe them 7K!!!!

Have a good weekend everyone.
xxx