Seen the light

nimbo

ooooh also look at the £10 a day challange on this thread, as they have loads of good ideas to help you out...

mawey

After speaking to both Payplan and CCCS I have decided to go with a DMP with CCCS, we was able to juggle my SOA around and have agreed that I would have around £281.00 to pay my debts and will have enough left to live on :j

They have sent me the info on setting up the management plan, but need a little help:

They have asked me to send letters to my creditors telling them I'm entering into a DMP with CCCS and a token payment would so my willingness to pay off my debts. The problem is I have no money to next payday 07th August. Do I send in the letter without the token and send it later or do I wait till payday?

I Plan to send of the pack with the information CCCS has asked for (photocopys of creditor statements - proof of income etc) after the next payday as it will give me the time I need to gather all the information.

dancingfairy

To be honest you will get defaults any way so the sooner you let them know the sooner you can start on the plan (I would say). I guess it depends on when they are expecting payments though? People have been know to send token payments of 1 pound as agoodwill gesture although admitedly they are mainly when the person is on benefits - not sure it's going to make a great deal of difference in the grand scheme of things whether you send a payment now or not and if so how much to be honest. It would probably be curteous (and organised of you) to send the creditors a message as son as possible but also how is the bank situation - have you got your new bank account set up yet? Be aware that as soon as you send letters to the payday loan companies they may try and recall the loan or take payment so you really need to make absolutely sure you have a new bank account set up to go and that your wages will be going in to the new account.
df

mawey

New bank is all set up and the wages are set up to go into that one on the next payday as my previous banks overdraft will be included in the DMP.

I'm upto date with some of my creditors, but missed payments with others, it's a right mess at the moment.

I'm thinking of drafting all the letters and arranging them in order of when the next payment date is due (obv the first being to those that I've got late payments for)

dancingfairy

Is it worth sending them out at different times? Could you not just do a job lot and send them all out? Like I said they're all going to default anyway. I'm not sure how much difference a months worth of token payments will make anyway - not much I'd suspect You'd think that they'd be grateful you'd got in touch etc etc but sadly unless you pay the full amount I don't think they really care whether you pay 1 pound or 50 - they'll probably default you all the same
df

mawey

dancingfairy wrote: »

Is it worth sending them out at different times? Could you not just do a job lot and send them all out? Like I said they're all going to default anyway. I'm not sure how much difference a months worth of token payments will make anyway - not much I'd suspect You'd think that they'd be grateful you'd got in touch etc etc but sadly unless you pay the full amount I don't think they really care whether you pay 1 pound or 50 - they'll probably default you all the same
df

I guess your right, at the moment I don't know what to do for the best, I know I'll feel alot better in myself knowing that all my creditors know my situation and I start paying CCCS (and hope they all accept) I feel angry at myself for letting it get this far, one thing I am grateful for is that my wife understands and is supportive.

I'm trying to set a goal of getting out the creditor letters, collecting all the statements for CCCS and returning the information they require by the 07th think it should be managable as its around three weeks

matty2712

Mawey Hi there,

Just to let you know, I a in the process of entering a DMP, this is being taken out with CCCS,

As Dancing Fairy has said make you get a new bank account, if you struggle to get one then may i suggest the co-op basic account (Cashminder) this was suggested to me by the members here. They are all a great bunch, and more often than not in the same situation as us.

I am still awaiting confirmation of my account, need to sign paperwork then should be ready to go, thats if the royal mail will hurry and send it.

All my letters have been printed out and are ready to send out to the creditors, be doing this when i have transferred to new bank account. I am awaiting 2 letters from creditors stating my account numbers when that is done i can send everything back to cccs. I can get my wages paid into my new account from next month, and the OH, from Sept, as she is on annual holiday as of today and has a nice break. Cant organise to change bank details until they are back. So in the meantime I will be sending a token payment for July and for August, the money we save will go into an emergency fund.

I have been in contact daily with cccs, and they are absolutely great..

I am now going to wait until the creditors start hassling me, wanting payment. Apparently at 1st its hard but gets a whole lot better.

Any help/advice drop me a PM...

Your not alone here

mawey

Just a thought reading through some threads.

The new bank account is with Halifax and one of my debts going on the plan is RBS credit card will the accounts be linked in some way? I don't want to set everything up then RBS say no and were taking the money out of your Halifax account...