Newbie here: Had LBM and looking to start DMP with CCCS

Phedre

Hello all,

Finally, after months of struggling to keep my head above water, I've admitted that I was drowning and contacted CCCS to start a DMP.

I've been paying all my creditors on time, but borrowing from Peter to pay Paul and it's just not sustainable.

So, I'm waiting for my pack to arrive so I can send all the letters off to my creditors (all 15 of them!!)

I'm not proud of the situation I'm in, it's mortifying. It all started when my ex disappeared off to the USA and left me with all the joint debts and he fleeced the joint savings account. This was 6 yrs ago and I've floundered since.

I guess what I'm asking is ...

Are there any tips or things I should do with the creditors? I really don't want them phoning me to chase up and ask for money (as it stresses me out)

I've got a bank account with "Smile" and I don't owe the co-op any money - so I'm going to use that for my wages - is this a good idea? Do the co-op own any other cards/creditors?

I have a joint bank account with my now husband (not the hideous ex) that is overdrawn - so we've done a massive blitz and sold some stuff to pay it off before the DMP so they can't chase him for the money - is this the right thing to do?
(It's the only account we have that's "shared")

I'm sorry to ask, I'm sure there are hundreds of threads on this - but my head isn't in the best place at the moment!

thanks in advance

loopy.magic

Hi

Well done on taking the first step, I was in a similar situation until last year when I finally had to do something and started on a DMP. It does feel horrible at first but it does get better believe me.

In summary this is the best advice I can give you from my own experience and reading various threads on this forum:

1. If you haven't done so already start listing and prioritizing all of your bills and amounts you NEED to pay (such as mortgage/rent, council tax, gas/electricity/water bills, etc). Essentially what you have to pay to live a normal life.

2. Remember that some of the creditors will be nicer then others, some will possibly be troublesome. However it's important to remember that no one can force you to pay them more money then you can afford. Unfotunately you will have to go through some stress from the chasing and harassment initially, stay strong and keep telling yourself that it will work out in the long term.

3. Know your rights, owing money is not a crime.

4. I don't think the Co op are linked to any other financial organizations, so a good choice for your salary. Very important so they can't take your money and pay off other debt (called off setting).

The point of all of the harassment and chasing is precisely so you feel paying through the nose is less stressful then standing up to them, don't let them get away with it. I know it's stressful (Egg calling me at home and my mobile 12 times a day !) but be firm.

Good luck

trainergirl

Hi Phedre

I am going through the exact same thing myself. Had my LBM 2 weeks ago, and after doing a basic living budget I contacted the CCCS.

My fears are exactly the same as yours - I'm scared I'm going to be hounded by phone calls and letters, but I'm starting to calm down now and look at it rationally - creditors can't have what you don't have to give them!

I know you're head isn't in the best place right now - believe me I never want to go through the stress I've had over the last couple of weeks but just keep thinking that its not forever. Stories from people on here have really helped me... it doesn't seem so bad when you know there's other people going through the same thing as you.

Keep your chin up - we can do it! xx

Growurown

If you go to the DMP mutual support thread part 8 and read the last couple of weeks posts there is some very good advice there to newbies just setting up a DMP.

Good luck.

Standingtall

Good luck Phedre and Trainergirl. Whilst you do hear horror stories about creditors harassing you, I can honestly say that the only phonecalls I received were from Kays (Littlewoods) Catalogue to whom I owed the grand total of.................................................................£92:mad:

The main advice is to be realistic with your budget and do not leave yourself short. Providing you have a reasonable amount left for your creditors then make your budgets as realistically high as possible. I am not suggesting you lie:eek:, what I am saying is that if your shopping ranges from £50 one week to £75 another than list down £75.

leave the answerphone to take the calls (assuming you have this facility) or maybe pay for caller display for a few months (again if possible). if all else fails unplug the phone.

Read as many threads from this forum as possible, they are full of really good advice.

It is not easy, I still panic and worry about the future. However, compared to how I felt for the couple of years leading up to my LBM, the feeling now is paradise! I can sleep at night and if I don't sleep at least it is not down to worrying about my debts.

Good luck:T

loopy.magic

Standingtall wrote: »

The main advice is to be realistic with your budget and do not leave yourself short. Providing you have a reasonable amount left for your creditors then make your budgets as realistically high as possible. I am not suggesting you lie:eek:, what I am saying is that if your shopping ranges from £50 one week to £75 another than list down £75.

Very good point, make your budget as high as possible. Don't go overboard of course but try to guarantee you'll never be short.

jpn1963

I am a couple of months further down than line than yourself. I have found the CCCS people amazing. As someone has already mentioned, some creditors are better than others. Because a lot of the creditors are huge great companies you get different letters from different departments. For example, I got a letter from MBNA saying that they agreee to the DMP, have cancelled all interest etc. Then the next day I got a standard Your Account is in Arrears letter so it takes a while for information to feed through. I had a bit of a hiccup because I opened a new bank account with Barclays. CCCS rang me to say that I couldn't do that coz my biggest debt was with Barclaycard!! Ooops. I am now with Nat West. This has delayed things with me a little, as I had to move my direct debits from Barclays to Nat West. I am still waiting for Barclaycard to contact me saying that they agree to the DMP. CCCS wrote to them on 27th March so I will ring Barclaycard this week if I still haven't heard anything. The fact that I have taken control of things makes me feel 100% better. Good luck. You WON'T regret doing this xx

Phedre

Thanks all!

It is the phone calls I'm worried most about - especially if they start contacting me at work ...

Deep breaths!

StepChange_Pavan

Phedre wrote: »

Thanks all!

It is the phone calls I'm worried most about - especially if they start contacting me at work ...

Deep breaths!

Hi Phedre,

I hope everything’s going well so far.

Firstly your creditors should not be contacting you at work. If they have your work number I’d recommend that you write to them requesting that they remove it from their records. If they need to contact you they can use your home number or if you prefer in writing only.

We’ve written some more advice on how to deal with these calls on our blog: http://moneyaware.co.uk/2011/06/what-to-do-when-creditors-keep-phoning-you-2/, but if you have any specific questions don’t hesitate to get in touch.

Kind regards,
Pavan