basic bank account

ChopinonaBudget

As far as I'm aware, natwest can offset to rbs as they are the same financial institution. I certainly personally wouldn't be happy banking with rbs (I have debts with natwest)
Please listen to the other posters though, these guys have gone through the mill with DMPs and more. Every penny you give to a company is a penny less paid to your debts, and potentially a penny more on your debt balance if your circumstances change in the future and you have to re-do a DMP.
Also, new research is now out that strongly suggest that paid DMPs are more likely to fail than free ones from the charities.
Your IVA may well work but you have a very new job, if worst comes to the worst and it fails you need to look at DMPs again, and you would want to give yourself the best possible chance of it working.
I wish you luck.

sickasachip13

Hi,
RBS owns Natwest, they could easily claw back money from an associated account. The advice from the debt charities - so well recommended above - is not to open up a new account with any creditor-linked financial organisation. There are plenty of people around here who've been stung.

As for you paying a company for a DMP, this does seem like a very strange decision. These fee-charging organisations get an awful lot of bad publicity - for good reason. Why not go with Payplan or CCCS (now Step Change)? What do you think you're getting for the money you're being charged?

SAAC

rising_from_the_ashes

Note The op has now started a duplicate thread on the Bankruptcy board .......

downnotout

I give up, I really do.

madison-nyc

rising_from_the_ashes wrote: »

Note The op has now started a duplicate thread on the Bankruptcy board .......

not an exact duplicate but a better worded one in the hope that i would get an answer on the tesco card question as this one had gone off on a tangent , as you can see.

Looks like i'm ok with the bank account , dug out my last statement and the paying in bank details for tesco credit card is a hsbc account? so not RBS anymore. So we should be safe enough staying with the natwest account.

re. the cleardebt vs charity cccs payplan etc. to be brutially honest with you , this week has been themost stressful of my life, with loosing my job , trying to keep on top of college assignments , looking after a 3 and 5yr old , desperately job hunting and sorting out this dmp, i cannot take anymore phonecalls , paper sorting , form filling etc. I just can't.

I knew that i could get the dmp free and had spoke to cccs a while ago to see what the score was , as such. looked like an iva was the way to go and had heard a lot of positive about clear debt. the day i lost my job (monday) i was in pieces and just called cleardebt, realised that an iva wouldn't be an option for a few months so a dmp , in the short term , would be the best option. I was told all the charges etc. and didn;t think anything of it at the time , was just so relieved to have a plan of action and someone to help.

It's all up and on it's way to being set up now , if it ends up in 3 months that an iva isn't what we want , for whatever reason, then i will , most definately , go back to cccs and swap over the dmp but as i said above , right now, after the past 7 days , i just cannot contemplate calling cccs and starting all over.

critiscise as much as you like , i came on here for a bit of support and a genuine question , not to be jumped on. I'm just trying to get through this whilst keeping up with every other aspect of my life. i feel like my head is going to explode!

droiderm

People are trying to help.
I am not criticising as an ex bankrupt. The charities will not have any other agenda except to help you. A private company will always consider their profits.
Just listen to what people say for a moment. Please.
I do understand how hard it is.

lindann_2

i am sorry you are having such a problem l been with pay-plan for nine years ended this November 2012; they do take the hassle of the creditors, you can see where your money being paid out on their web site payplanplus. in fact you will find it helps that things are wrote down. Co-op and Yorkshire are good at basic accounts. Have moment or two to ponder what has been said. Good luck

madison-nyc

droiderm wrote: »

People are trying to help.
I am not criticising as an ex bankrupt. The charities will not have any other agenda except to help you. A private company will always consider their profits.
Just listen to what people say for a moment. Please.
I do understand how hard it is.

i am listening and i understand it's going to cost me £160 over three months to stay with cleardebt , i am accepting that and would rather that than have to call cleardebt cancel the dmp on monday then call cccs and start all over again. I'm at college monday and wednesday and working my new job tues,thurs,fri and sat. I know dmp is the only option for now as i need 3 months of payslips for an IVA, as i don't start my new job until monday this is the only way forward. we cannot put an iva application forward just on my husbands wages as it doesn't add up on paper for us to put £200 or so down for it.

for the sake of £160 i'm 100% happy for cleardebt to get the ball rolling and , as i said , if the dmp looks like it's going to be more long term , then i will call cccs in a couple of months when i'm on top of everything else and transfer it over.

sickasachip13

Hi,
Hope you get sorted. I did do a quick search of these forums and while some people do say they've had positive experiences of Cleardebt there are some other stories too, including one person who says Cleardebt didn't tell him about a hidden £1000 fee and an 18% monthly levy. I certainly hope you've checked out the company in minute detail and, for goodness sake, please don't sign or agree to anything until you've got their full proposals and costs and T&Cs in writing.
SAAC

Heffi1

Clearly you are very stressed at the moment, and no wonder with what has been going on with you this week.

I understand that having to deal with debt is difficult, we all have had weeks like you are having right now.

Take a deep breath and read each of the entries above and look at it from our point of view. For every penny you pay to cleardebt, how much of it gets paid to your debt, and how much do they keep for themselves.

I am with CCCS and as much as it was stressful to set up, once it was done the phonecalls stopped, the letters stopped and I managed to settle down to paying it all back. Not a single penny of my money has been kept by them, it all goes to pay what I owe.

While your debt management company are sorting out your affairs, your debts are not being paid.

Next week or the week after the phone calls will start, then the letters, believe me when I say, you will wish that you could rewind back to today as right at this moment, you have not experienced the hounding you are about to get from each of your creditors.

The reason for this is that cleardebt will be lining their pockets while telling you they are contacting your creditors. Your creditors will look at any paperwork they get and see that they are taking a fee, therefore are less likely to want to accept their first offer, it may take more than one attempt to sort things out with them (if at all)

The beauty of a charity or fee free DMP is that the creditors know they are getting all that you can afford and nothing is being held back

You will of course do things your own way as is your right, but I would urge you to think again and give CCCS or payplan a call and talk through your options, even if you do decide to stay with what you are doing, it would not hurt to get another opinion.

Would it, or is this just too difficult for you to manage and you want them to take care of it for you.

By the way is the £160 total fees or monthly fees before your payslips turn up?