New Dmp Mutal Support Thread

smilealot

Hi guys!!!

Sorry I've not been in touch much lately, school is mad busy - hence the 2am posting Sea!

Welcome to all the newbies. It's lovely to have you hear and makes us older members feel experienced and knowlegdeable (well, sometimes!).

Sorry to hear that some of the regulars are having ups and downs. Teecee, did you manage to pay your MOT? Oh, and I'm a girl too!

Right, down to business...

Yellowmonkey - I was in exactly the same boat as you a few weeks ago. Roughly the same debt and number of debtors, so I'll try to help.

1. CHANGE YOUR BANK IMMEDIATELY!!! I hadn't missed any payments etc at that point so tried to open a normal account with switch card etc, as my credit file was "good", but I still got refused because of the amount of ebt vs salary balance. You'll probably be in the same boat, so will also need to open a basic bank account. I chose the Co-Op as they provide you with an Electron card. It's not accepted by as many traders as the Switch or VISA Debit, but it's better than nothing. Some websites, like Ryanair, even let you off with charges if you use Electron instead of Switch - great if you can afford a holiday(!) Once it's opened (expect to wait 2 weeks for this) transfer your wages asap. Payplan told me they wouldn't contact my main back about the DMP until I'd done this, but don't take the risk, get it moved quickly so you don't lose it (like someone on here did - Daisie?). You'll need to choose a bank with no connections to you debt. I'll PM a document to you that has a handy list of connected banks. (Or post your creditor list on here).

2. Payplan will call you back for a proper conversation about income and expenditure. I was dreading it but actually enjoyed it! The guy I got was such a laugh and I felt so empowered by facing it all and sorting things out. They use standard statistical figures to work out maximum food allowances etc (I'm allowed £140 for food pm and I'm single - so you'll get more than that). They include things like medical and dentistry costs, haridressers etc. I think the maximum you can reserve for birthdays etc is £10pm, but they'll go over it with you. There is room for maneouvre with things like petrol, but my guy said don't be too frugal and gave me the max allowance, as you don't want to leave yourself short and risk not being able to pay the DMP money each month. If you underspend, put it in a savings account then make a lump sum payment via the DMP. A good tip is to use the Debt Remedy guide on the CCCS website https://www.CCCS.com ? It will take you through the Income and Expenditure and if you go right to the end will give you an approximate amount for DMP based on the figures. If you still want to go with PayPlan, just don't select an option at the end or put your contact details in. I did this as liked PayPlan but wanted to have an idea of what things to budget for in advance, it's an anonymous tool, so go for it.

I'd really suggest you post your SoA (breakdown of current income and expediture) so we can help point out things that could be improved so you are prepared for Monday? It's not necessary if you don't fancy it though, might help you think about the amounts in advance.

Good luck and let us know how you get on.

smilealot

2.

Joek_2

Yup, smile's dead on the money with the bank account change!

If only I didn't have a debt with Halifax though - I popped into the local branch today to withdraw some money from my 'savings' account (heh). Bare in mind this is an account which hasn't seen use since 2000(!). I knew the account was still active, but the staff were all incredibly pleasant to me, which was very nice indeed!

smilealot

OOOoooh, forgot my own update! My first DMP payment is going out on the 24th March - yippee!

Questions:

1. Payplan have said I need to provide them with uptodate balances. can i just print off the summary page of my internet banking? It's not an official statement (they won't be in for a while).

2. Got my first collections letter yesterday - woo hoo! I didn't feel upset at all by it, thanks to you guys. Anyway, it says I need to call them asap, but I've already sent a letter telling them about my DMP and PayPlan should be contacting them soon. Should I make a quick call anyway so they can't denying knowing about the DMP? It's Hellifax....

Thanks guys!

smilealot

Joek_2

smilealot wrote: »

OOOoooh, forgot my own update! My first DMP payment is going out on the 24th March - yippee!

Questions:

1. Payplan have said I need to provide them with uptodate balances. can i just print off the summary page of my internet banking? It's not an official statement (they won't be in for a while).

2. Got my first collections letter yesterday - woo hoo! I didn't feel upset at all by it, thanks to you guys. Anyway, it says I need to call them asap, but I've already sent a letter telling them about my DMP and PayPlan should be contacting them soon. Should I make a quick call anyway so they can't denying knowing about the DMP? It's Hellifax....

Thanks guys!

smilealot

1. CCCS were fine with me printing off my statements from my (ex) internet bankers.

2. I'd either send them a recorded delivery letter reiterating the details, or alternatively phone Payplan to see what they suggest.

smilealot

Thanks joek :rolleyes2

Ex-Spendaholic

Welcome to Yellowmonkey and Amani. Stick with us guys. We are going places. :beer:

Smilealot may be worth ringing Hellifax just so that you can maybe avoid the million phone calls and the "we will be visiting your home" postcard I got. I sent internet statements from Cahoot and Egg to CCCS. They were happy with that.

Hello to everyone else. I've nothing to report. I got a letter today from Barclaycard. It said they were sorry that I had asked for my phone number to be removed from their records. They would really love to be able to keep in touch with me though and will credit my account with £5 if I fill in the form with an up to date number. Yeah right. :rotfl: :rotfl: :rotfl: It gave me a laugh today. I think I'm going mental. I use to worry about creditors and now I'm laughing at them. Must wise up.

yellowmonkey

Hi.
First of all many thanks to Smilealot for your link to bank accounts. Very helpful indeed. I have taken your advice and please find below my current income/expenditure. These figures are what I currently budget for and I think some may be to low and some to high but anyway here goes.

INCOME...£1605 per month( Have recently had pay rise so this figure will rise.Will find out next month)

EXPENDITURE

£284...Rent(Council)
£200...Csa
£335...Loan with Egg
£110...Council Tax
£25....BT Telephone
£53.50... Sky !!!!!!!!!!( I also can see a cutback here)
£36...Combuned water services bill
£5...Mobile PAYG
£2...nspcc
£44...car insurance. this should lower in August.
£10...AOL. Lowered from £17.99(Said I was going to leave)
£11...TV Licence
£10...Lottery(You never know!)
£40...Gas
£40...electric
£55...Egg credit card
£20...Argos card
£96...First direct credit card
£118...First direct loan
£6...Bank charges
£28...Playschool fees(Will end in July)
£10...House insurance
£100... petrol
£150...Food
As you can see I have no provisions for school trips.Car tax etc. This is something I am going to have to allow for in my new budget

TOTAL OUTGOINGS...£1788.50 -£1605 = £183 minus every month!!!!.Good god I have not had the courage recently to add and compare this.


My Debts are as follows

£15000...EGG LOAN
£2500...EGG Credit card
£1000...Overdraft(First direct)
£6000...First Direct loan
£3500...First Direct Credit Card
£480...Argos store card

TOTAL...£28480 eeeeeekkkkkkk!!!!!!

Hope this helps and any help and advice would be greatly appreciated.

Regards

smilealot

Hi Ex :hello

Thanks for the advice. Think I will call Hellifax and update them again... even though I paid recorded delivery to tell them the same thing in a letter :mad:

I'm gonna organise my print outs etc tomorrow.

You're post made me giggle. Can't believe they offered you a £5 for your new number - he he!

Hope your well otherwise :rolleyes2

Gemmzie

Hi guys, sorry I haven't been in lately, been working mental hours plus college

Good news HSBC credit card sent us a letter today saying that they'll accept the £50 we are paying them from now on for 170 months and will keep interest frozen :j :j So they are sorted FOR GOOD :T :T

smilealot

Hi again yellowmonkey. Let's have a look at this...


INCOME...£1605 per month( Have recently had pay rise so this figure will rise.Will find out next month)

EXPENDITURE

£284...Rent(Council)
£200...Csa
[STRIKE]£335...Loan with Egg[/STRIKE] this shouldn't be included - will form part of your DMP payment
£110...Council Tax
£25....BT Telephone which package? can you cut it down? does it include internet? if so, can you not get free boradband via Sky?
£53.50... Sky !!!!!!!!!!( I also can see a cutback here) i'd definitely cut this to the basic, at least until you are back up on your feet, I've approximated it as £15
£36...Combuned water services bill
£5...Mobile PAYG that's good
£2...nspcc hate to say it, but this should go, creditors won't look kindly on it. save up any extra income and you can always donate at christmas/spare change in shaker cans. £24pa over the period of your dmp could pay off a little debt
£44...car insurance. this should lower in August. good stuff! check out quidco for cashback and discounts, think Gemmzie on here and many others are experts
£10...AOL. Lowered from £17.99(Said I was going to leave) oh right, see above about possible free Sky broadband, or have you entered another 12 month contract with AOL?
£11...TV Licence
£10...Lottery(You never know!) this will have to go as well, harsh, but what your creditors and payplan will say. again if you have a spare £1 by saturday you can treat yourself!
£40...Gas have you checked uswitch to check for savings on this and your other bills?
£40...electric as above
£55...Egg credit card exclude
£20...Argos card exclude
£96...First direct credit card exclude
£118...First direct loan exclude
£6...Bank charges exclude - these will stop once on DMP - hopefully!
£28...Playschool fees(Will end in July)will they start again in sept? if so you'll need to budget for them - say to payplan (I@ve ignored it for now
£10...House insurance check out quidco for a better deal
100... petrol this seems reasonable
£150...Food how many in your family? ask your payplan advisor when they call if this looks okay, also this figure covers toiletries, cleaning products etc
As you can see I have no provisions for school trips.Car tax etc. This is something I am going to have to allow for in my new budget see below

TOTAL OUTGOINGS...£1788.50 -£1605 = £183 minus every month!!!!.Good god I have not had the courage recently to add and compare this. don't worry!!!


My Debts are as follows

£15000...EGG LOAN
£2500...EGG Credit card
£1000...Overdraft(First direct)
£6000...First Direct loan
£3500...First Direct Credit Card
£480...Argos store card

TOTAL...£28480 eeeeeekkkkkkk!!!!!! many people on here have lots more than that and manage to secure a DMP - it's not too bad

You haven't allowed for (I'm approximating for one car):
life insurance/pensions (you may not have any)
hire purchase (is your car paid off?)
road tax £10?
car breakdown (aa/rac) £4
car maintenance £20
car parking?
public transport?
clothes £20 (this is what I'm allowed as a single person)
school meals ?
pet costs ?
school trips £5 (no idea - ask payplan!)
dentist/medicine £15 (for me only - you should up this for family)
hairdressing £8 (up for family)
union fees ?
sports/hobbies £20 (up for family)

Right, that brings your new totals to (approx because some adjustments will be needed above):

Income = £1605
Expenditure = £1242
Possible DMP payment = £363

Health warning - I may be a maths teacher but I've calculated it very quickly so have probably made mistakes! Also, please bear in mind that some of your figures will need to be increase for family rather than single person allowances.

Having said that, You'll still have between £200-300 to pay your creditors each month. I have a similar total debt and I pay just under £160 a month. So it's all good :T

Keep smiling :rolleyes2

smilealot

P.S. well done for being brave and writing all these figures down - I remember how scary it was!!