DMP & Mutual Support Thread - Part 9

Growurown

huskypup wrote: »

I am after some advice for my father -

Hi Huskypup, can't offer any advice here, sorry, apart from go and get some professional advice. There may be other options for your father to tackle this debt.

Find_The_Real wrote: »

Just a little update for me, in the final week of the IVA wait which I can confirm is more nerve-wracking than was the house repo ever was!

Good luck FTR, hope you get the result you want.

Puzzcat

And I though I was so organised....

I have a current account with Natwest (od,loan and cc) will all go in the dmp. I am keeping these all up to date until i'm ready to swap salaries etc..

However, I also have a RBS cc which I was planning on sending a token payment to this month with my letter and SC ref number etc.. But RBS and Natwest are linked and now I'm not sure about not paying RBS this month, I can scrape it together but it will be a struggle... I just don't want Natwest getting wind of anything before I've managed to close joint account/swap all dd's and move salaries....

Anyone got any thoughts??? Pretty Please....:)

hometime1

Hi long term poster different username
I have a moral dilemma we are paying our debts at £900 per month through Payplan this leaves us very tight with no room for manouvere now i may have the chance of a job this would make life easier for us and allow us to have a little more freedom if i decide not to tell payplan what would be the consequences of this? I do want to pay the debts and we are doing for the last 2 years but i would like a little more freedom am i bad person for thinking this?

antonic

If you choose to do this and Payplan find out, they *may* terminate the DMP and ask you to find another DMP provider.

This is because when you complete the Income & Expenditure form for them you are stating that this is a true statement of means.

I have recently completed a 90 month DMP with Payplan, and my I&E details may not have been strictly accurate, BUT neither did I outrageously lie.

When you signed up for your DMP you should have known what it entailed, but I can tell you that at the end of it you will feel proud of yourself for paying off your debts and relieved because all of your money is your own.

Hope this helps.

hometime1 wrote: »

Hi long term poster different username
I have a moral dilemma we are paying our debts at £900 per month through Payplan this leaves us very tight with no room for manouvere now i may have the chance of a job this would make life easier for us and allow us to have a little more freedom if i decide not to tell payplan what would be the consequences of this? I do want to pay the debts and we are doing for the last 2 years but i would like a little more freedom am i bad person for thinking this?

Hopelessly_Hopeful

hometime1 wrote: »

Hi long term poster different username
I have a moral dilemma we are paying our debts at £900 per month through Payplan this leaves us very tight with no room for manouvere now i may have the chance of a job this would make life easier for us and allow us to have a little more freedom if i decide not to tell payplan what would be the consequences of this? I do want to pay the debts and we are doing for the last 2 years but i would like a little more freedom am i bad person for thinking this?

Hi

Your money and your choice; it's not upto anyone to judge here. It's upto you what you tell them. Yes you do run the risk but how would they find out? You can't buy back time and all that. How much longer do you have to go on your DMP?

Good luck whatever you decide

HHx

duckie193

Hi,
I have now been on my DMP with Payplan for a year and I am still having some difficulty regarding the charges & interest getting charged but I am in the process of dealing with this, so hopefully there will soon be an improvement in this.

Today I am feeling down:sad: ....... for lots of reasons but mostly personal ones so when reading this thread I began to think of a situation that made me feel happy and decided to share.

I have used CC, O/D and Personal loans for years and have never been without at least one of them for the last 20yrs.
Christmas past was the first one ever that I haven't use credit of some nature to get me by and it felt great:j
Everyone who needed to get a present got one and we all had a lovely time.
Feeling a bit apprehensive about this Xmas but I am sure with a bit of planning it can be achieved again.

Mags

kirstylanarkshire

So I took my first big step today (since contacting stepchange) I called the rent office who were ok and agreed to me paying off my 1 month arrears over 4 months - the council tax was a different story!! Because im only 1 month behind I cant set up a payment plan they want the full payment, 3 times I told him a full payment was not possible today and he said thats tough really! I did say that I would wait until.the arrears were put into recovery and sort it with them, But will still make the overpayment anyway. I also sent a letter to the bank last week cancelling my continuous payments i phoned them to confirm they have the letter and that it has been done as the first payment is due out on Thursday - its a bank holiday and I need to call tomorrow, I hope thats enough time!!! So now payday is getting closer im starting to get really nervous and will probably stay that way until everything is sorted well done to everyone sorting their stuff out and thanks for the advice and support.

hopperson

Hi all,

This morning I had a telephone 'appointment' with an advisor at PayPlan which went extremely well - just talking to someone who can help is a relief! I've opted for a Debt Management Plan which apparently if I pay around £200 per month to PayPlan I will be debt free in about 2 years, which is great.

One thing to ask of you though:
The guy at PayPlan mentioned that as I will also be using them to clear my existing bank overdraft (£1,000 with Santander) that I will need to move to a different bank.

Is there a particular bank/type of account I should look for? I want something simple and manageable, but which I can still set up direct debits / standing orders for etc.

antonic

Go with a bank NOT linked to Santander.

My O/D was with Santander and I opened a new account with Lloyds.

Never had a problem with Lloyds since I opened it.

hopperson wrote: »

Hi all,

This morning I had a telephone 'appointment' with an advisor at PayPlan which went extremely well - just talking to someone who can help is a relief! I've opted for a Debt Management Plan which apparently if I pay around £200 per month to PayPlan I will be debt free in about 2 years, which is great.

One thing to ask of you though:
The guy at PayPlan mentioned that as I will also be using them to clear my existing bank overdraft (£1,000 with Santander) that I will need to move to a different bank.

Is there a particular bank/type of account I should look for? I want something simple and manageable, but which I can still set up direct debits / standing orders for etc.

duckie193

hopperson wrote: »

Hi all,

This morning I had a telephone 'appointment' with an advisor at PayPlan which went extremely well - just talking to someone who can help is a relief! I've opted for a Debt Management Plan which apparently if I pay around £200 per month to PayPlan I will be debt free in about 2 years, which is great.

One thing to ask of you though:
The guy at PayPlan mentioned that as I will also be using them to clear my existing bank overdraft (£1,000 with Santander) that I will need to move to a different bank.

Is there a particular bank/type of account I should look for? I want something simple and manageable, but which I can still set up direct debits / standing orders for etc.

I am with PayPlan as well and I am a year into the plan - getting a new bank account was really easy I went with the Co-op and got a basic account without an overdraft, all DD set up & salaries go into it, no problems

The only word of caution I would have is the timescale that they calculate your plan to be finished by as this is based on interest & charges being frozen but I haven't found them very proactive at trying to achieve this.

They state that I will be clear in a total of 5 years but due to interest / charges not been frozen it is going to be over 12 years realistically and that is me annoying the hell ot of them to keep on at my creditors.

Good luck
Mags