DMP & Mutual Support Thread - Part 9

Hopelessly_Hopeful

icklepiggle wrote: »

Hi everyone

popping in again - I posted last week cos I am going thru a divorce & wanted to know if I should wait to do a DMP. I spoke to Payplan & they suggested I speak to my solicitor first before I do anything, so I have emailed the legal secretary to get her advice first

xx

Personally I would wait until outcome of settlement know. Let us know what the solicitor advises.

HHx

Hopelessly_Hopeful

tulip28 wrote: »

Hi - I was wondering if I can get some advice please.

I have had my DMP with Churchwood financial for two years now and am happy with them. I couldnt get help with CCCS (Now stepchange) as I was told I had too much disposable funds at the end of my wages (£20...yes this is true) so in desperation I went with Churchwood.

Fast forward two years and my personal circumstances have changed for the better (wahoo) my creditors were good and interest and charges were dropped/stopped.

I am wondering whether it would be best for me to stop paying churchwood and revert back to paying monthly myself direct with the creditors - would the interest then start again?? OR would I best best to start paying extra on top on the DMP payments to clear the debt quicker

Does anyone know how long after defaulted I need to be clear for (Santander told me a year) and how can I get my credit back healthy?

Thanks everyone.

Hi

Defaults stay on the account from 6 years when they were started regardless of whether they are settled or not.

Great news that things are getting better for you.

Had to advice on the other aspects without knowing more details. Do you men CCCS said you didn't have enough disposable income? What did you start off owing, how much have you been paid? What do Churchill charge? What's left now?


HHx

Suseka

What a flipping marathon that was... have taken today off work so I could phone my many non-debt creditors and transfer all DDs to the new joint account. Spent ages on hold, going through menu after menu ...if just one more automated voice tells me "you now have five choices, press 1 if your call relates to blah blah blah.." I will scream :eek:

Anyway - job done. I just hope they all switch over without any glitches. Not entirely convinced with some of the conversations I had with what was clearly an overseas customer service assistant. At the end of one conversation the chap wished me a good evening - and it was 11.30am!

Just need to get my salary switched now and move my money.

A quick question on that... do you think it's okay to do an electronic transfer to my new bank account (which has nothing to do with any creditor). Or do you think I should do the transfer a little more stealthy. Like take wads of cash out over x number of days and pay in that way. I ask because I wondered if it mattered that by doing an electronic transfer my bank would have details of my new bank account (or am I perhaps being a little too cautious).

Good to see the thread thriving and lots of folks posting, though my contribution will be limited to evenings and weekends once I back at work. Not looking forward to it (work that is).

gizmo111

A quick question on that... do you think it's okay to do an electronic transfer to my new bank account (which has nothing to do with any creditor). Or do you think I should do the transfer a little more stealthy. Like take wads of cash out over x number of days and pay in that way. I ask because I wondered if it mattered that by doing an electronic transfer my bank would have details of my new bank account (or am I perhaps being a little too cautious).

Too cautious - they will have a record of where the money went if they ever looked for it, but your new bank details cannot benefit your bank in anyway possible.
Transfer the money in one go. Do a £1 first to make sure it gets there.

Suseka

Thanks gizmo - good advice about testing it with a small £1 transfer first.

Mossop01

Hi julie, sorry to hear about ur loss xx

Hi suseka, i was very cautious about bank transfers and did take cash out to put in new bank but as gizmo said i dont think you need to. Good luck.

Hi debtfree77, i have a debt with barclaycard and they have frozen interest for 12 months until my dmp review, i have a feeling they might reinstate it though after that as they didnt seem particularly optimistic that it would remain frozen. Good luck x

debtdawg

Haven't been on in a while, DMP is pootling along. Only fly in the ointment is Lloyds who are still charging interest at the same amount each month of pretty much my DMP payment, so the balance is going nowhere I need to get it sorted out, just lost the energy to fight tbh!

Hopelessly_Hopeful

debtdawg wrote: »

Haven't been on in a while, DMP is pootling along. Only fly in the ointment is Lloyds who are still charging interest at the same amount each month of pretty much my DMP payment, so the balance is going nowhere I need to get it sorted out, just lost the energy to fight tbh!

MS TTFTM has experience of Lloyds so maybe able to help you.

HHx

fairyboots

My dmp is with Churchwood Finance.

I started it in July 2011. I have 6 creditors.
MBNA £3161
SATANDER (DEBENHAMS) £273
TESCO 961
2X FIRST DIRECT £673 & 677
MINT 1240

I called them today and there records were out of date from October last year. I think one was Jan. I still get monthly statements.

I am beginning to wonder why on earth I went with them in the first place. Shall I cancel and go my own way.

Checked my noddle. my score is 1/5 and I have a constant late payment with Satander. And three defaults from MBNA/TESCO AND RBS (rbs must be one of the credit cards cant remember which one)

Feel very down about it - trying to face up to it - but just in tears. I feel that this whole DMP was just a waste of time. I pay £125 a month to Churchwood. I want to start paying more (overtime) but would rather the money go straight to the creditors than saying to CWF i can pay more when in fact one month I might not get any overtime through work.

I rang the creditors and they said they would be happy to accept extra payments no matter how small.
I spoke to Churchwood and they said dont do that as the creditors will wonder where the extra money is coming from (overtime) and will ask to see my wage slips. Is this true?

Can someone please give me some solid advice. I am at my wits end.

I sold my car, I dont get any luxuries anymore as I feel guilty, I rarely go out - havent bought new clothes and when I have its cheap/ebay/primarni just to make it through the month and to make me look smart at work.

I take lunches, I use public transport but walk too - I just dont know what else I can physically do. I am exhausted I cant sleep, I'm constantly worrying and the thought of being under a train after work is getting more appealing by the month. tears now as I type. how can I get out of this bl00dy mess!

Hopelessly_Hopeful

fairyboots wrote: »

My dmp is with Churchwood Finance.

I started it in July 2011. I have 6 creditors.
MBNA £3161
SATANDER (DEBENHAMS) £273
TESCO 961
2X FIRST DIRECT £673 & 677
MINT 1240

I called them today and there records were out of date from October last year. I think one was Jan. I still get monthly statements.

I am beginning to wonder why on earth I went with them in the first place. Shall I cancel and go my own way.

Checked my noddle. my score is 1/5 and I have a constant late payment with Satander. And three defaults from MBNA/TESCO AND RBS (rbs must be one of the credit cards cant remember which one)

Feel very down about it - trying to face up to it - but just in tears. I feel that this whole DMP was just a waste of time. I pay £125 a month to Churchwood. I want to start paying more (overtime) but would rather the money go straight to the creditors than saying to CWF i can pay more when in fact one month I might not get any overtime through work.

I rang the creditors and they said they would be happy to accept extra payments no matter how small.
I spoke to Churchwood and they said dont do that as the creditors will wonder where the extra money is coming from (overtime) and will ask to see my wage slips. Is this true?

Can someone please give me some solid advice. I am at my wits end.

I sold my car, I dont get any luxuries anymore as I feel guilty, I rarely go out - havent bought new clothes and when I have its cheap/ebay/primarni just to make it through the month and to make me look smart at work.

I take lunches, I use public transport but walk too - I just dont know what else I can physically do. I am exhausted I cant sleep, I'm constantly worrying and the thought of being under a train after work is getting more appealing by the month. tears now as I type. how can I get out of this bl00dy mess!

There WILL be a way out of it. You are already on your way to getting things sorted as you are giving it the attention. Sorry you are feeling so bad, sending a big virtual hug over to you.

Would you consider going to yourt doctors about feeling so low?

Are the amounts you listed the starting debts or what they are now? What you need to know is How much of the £125 has Churchwood taken for themselves and how much has your debt reduced by? Can you get that information as thats the first step.

Almost certainly you will be much better off going with one of the free providors or doing a self managed. It could be that a DRO is suitable for you. Have you done the online anonymous debt remedy at CCCS and see what that suggests?

http://www.reviewcentre.com/reviews114092.html#Reviews Not good reviews. I'd stop DD and give yourself some breathing space until you decide the way forward.



HHx