DMP & Mutual Support Thread - Part 9

Fed_up_and_forty

Another question, which basic bank account should i open? Most of my debts are with lloyds and halifax so was thinking of co-op or a natwest one, any suggestions or recommendations.

*Foolish*

Fed_up_and_forty wrote: »

Another question, which basic bank account should i open? Most of my debts are with lloyds and halifax so was thinking of co-op or a natwest one, any suggestions or recommendations.

I opened mine with NatWest, the first one I got was their basic account, which was set up online and I had instant access to it. There are restrictions with that account where you can withdraw cash and the card can't be used at 'pay at pump' petrol stations. About 2 months later I opened another account with them which was one above their basic (still no fee or overdraft) and it was quick and easy to do. They have good online banking and a decent app.
Good luck.

Sazzie23

alyxzandra wrote: »

I am not going to listen. I will just pay them off and another small loan. I want to be out of debt by 2017, not 2019!

Hi Alyxz

Maybe this is another LBM that you have clearly had but the OH hasn't got there yet? Well done for making a plan for DFD

Sazzie23

Fed_up_and_forty wrote: »

Hi HH,

According to my DMP we can afford £1113 a month to pay towards our debts so if interest was frozen we would be debt free before 2018. I really want it but i am so scared and feel that i really need this forum to get me through. I can't keep existing the way we have been. Thanks for the reply. I have taken the day off work today to try and get things sorted so, here we go.

Welcome Fedup

Well done for taking first steps towards debtfreeness:)
Hope your day is working out OK - makes sense to invest a bit of time to get it sorted. I think many of us started off in the 'OMG what are they going to do to me' stress, but for me its got much easier. Still have wobbles along the way:eek:, but coming back here does help:T

Have a good day everyone

Hopelessly_Hopeful

Fed_up_and_forty wrote: »

Hi HH,

According to my DMP we can afford £1113 a month to pay towards our debts so if interest was frozen we would be debt free before 2018. I really want it but i am so scared and feel that i really need this forum to get me through. I can't keep existing the way we have been. Thanks for the reply. I have taken the day off work today to try and get things sorted so, here we go.

Hi

Even if they charge interest as they have done on mine (taking yours to 68k) then you will still be done in 61 months so just about 5 years. You wouldn't get a loan for anything like that so it will be sorted.

Good idea to take some time off, plan, plan plan but do make sure your budget is realistic as you will be on this for 5 years.

I have a coop bank account, it's fine, not as flash as the First Direct one but it works.

Good luck

HHx

Puzzcat

Hello everyone and a special wave to Fed up and Forty..

Your post is so similar to many of our's on this thread. I'm a newbie and my first payment was November. I have only spoken to about half my creditors and believe me they are not scary and if they are horrible well you have the option of hanging up! I did request contact in writing only but found it quite useful once I had spoken to the first one to speak to others who rang, even if just to quote my dmp number.

I have received today 2 letters from Natwest CC and RBS cc both the same letter stating card termination, default issued, blah blah.. but the interesting bit was the interest will be stopped after they receive first payment from SC. So fingers crossed .... I received a bank statement and my OD has not had anything added to it....

Other wise just waiting until some statements arrive, not keen on the next lot as I know most will have piled on the interest whilst they can... but hey ho, hopefully December's statements will be an improvement....

Fed up and forty, my debt is not disimilar in size to yours and I was paying a mega £1480 a month on debt..... no wonder I was penny less.... now I'm only paying £561.. I've got a reasonably generous budget and will hope to up my payments as we go along, but having lived this way for 20+ years there was no way I was entering a dmp without some breathing space. I'm not worried about the length of time it takes, I will get there and I will pay off all my debts.

I have noticed a change in me, and I do feel that I am finally getting my life back.

For anyone still thinking about it, I would say go for it, I wish I had done this years ago.. hindsight is a wonderful thing...

Sorry for the waffle...

Love Puzz. xx

Mr_Mink

Puzzcat wrote: »

For anyone still thinking about it, I would say go for it, I wish I had done this years ago.. hindsight is a wonderful thing...

Could not agree more.

Even if Lloyds are *insert rude word of your choosing*

Puzzcat

Mr_Mink wrote: »

Could not agree more.

Even if Lloyds are *insert rude word of your choosing*

Pleased to say they are not one of my creditors.... I do have Halifax though and think they are a similar breed but without a pretty black horse!!!

Puzzcat

Quick question for the clever people...

I have not heard anything from Barclaycard at all, they have cashed all my token payments and I can still access my online account. On this account it shows my next payment due by 12 nov and the SC budget amount.. now we all know SC don't pay until the 25th nov.. Not sure what to do or whether to call SC... it is also currently showing no interest added..... don't want to upset the apple cart..

So do I -
1. ignore it
2. Call SC for advice
3. Make an additional payment this month pre 12th so they would then get 2 dmp payments in a month.. but then would they expect this all the time... (we are talking an extra £30..)

dilema..... Any help appreciated...
Love Puzz. xx

Mr_Mink

Puzzcat wrote: »

Quick question for the clever people...

I have not heard anything from Barclaycard at all, they have cashed all my token payments and I can still access my online account. On this account it shows my next payment due by 12 nov and the SC budget amount.. now we all know SC don't pay until the 25th nov.. Not sure what to do or whether to call SC... it is also currently showing no interest added..... don't want to upset the apple cart..

So do I -
1. ignore it
2. Call SC for advice
3. Make an additional payment this month pre 12th so they would then get 2 dmp payments in a month.. but then would they expect this all the time... (we are talking an extra £30..)

dilema..... Any help appreciated...
Love Puzz. xx

I'd vote option 2. They'll most likely give you some spool about Barclay's knowing and it not affecting anything, but it's good to settle the mind. Avoid option 3, don't want to rock the boat. I like to think of the creditors like the seagulls in Finding Nemo, one movement and they're all shouting 'Mine!'.