DMP & Mutual Support Thread - Part 9

Time_to_face_the_music

Newchapter wrote: »

I think its great that you knew what to do, etc and had the confidence to self manage. I started from a position of being completely bewildered and needed the help. So I am glad I took it.

I didn't even know what a DMP was until I came to the MSE website in absolute desperation last January! With over £81,000 of debt, we thought we would be taking this evergrowing millstone into retirement and ultimately to the grave.

I discovered DMPs and CCCS and there was a lifeline. We started our DMP almost immediately and even made 2 payments in the first month, February 2012. The first almost disappeared into interest and charges. The second made a difference to our debt.

I read every single post on the DMP support thread, and I don't mean the current one, I mean I went back and read them all and made notes. I asked for help, advice and support and I got it in bucketloads.

My OH was really onboard with the debt busting too and that made a massive difference. From posts here and on the main DFW board, we realised we could fight the banks over interest and charges and we started to do it, all based on advice and information from this thread. It's all here, everything you need. I don't have a magic book and I was petrified of the creditors when I started. The help you need is here on this thread and the previous ones.

More help is here:

https://forums.moneysavingexpert.com/discussion/4228011

Read Fermi's signature, it says it all.

and here:

http://mymoney.nedcab.org.uk/moneyadvice/signup.asp

and here:

https://www.mymoneysteps.org/


Is all your interest frozen now with your new DMP provider?

Have you been defaulted on all of your debts?

How much are you paying to have your debts paid for you? How much was the set up fee? How much is the monthly payment? You still owe £55K, that is a lot of fees over the years that could be going towards you debt!

Are your signature figures based on statements you physically receive from your creditors?

I had no confidence, debt had knocked it all out of me. Now it's back with a vengeance and every penny we pay off our debt adds to it. Rant over but please think again about paying someone to deal with your debt, you really can do this yourself. Honestly if I can, so can you

Hopelessly_Hopeful

eyeopener2 wrote: »

Now your in control ,why not go self managed? All your doing now is paying somebody else to distribute your payments. Might knock a few years off your debt free date.

I can understand the initial bewilderment, I was scared stiff, but if I'd known then what I know now I would be self managed. As it is I'm near the finish line so not much point in changing. If I had a year or more to go, I would be DIY.

Can't beat the DIY route when the time is right

Hopelessly_Hopeful

Very well said as ever Ms TTFTM.

I suspect I will be going head to head with my twin this afternoon though. Duals drawn for the rest of the afternoon then kiss and make up later (when we win)

Just grabbed some MSE bargains at a food outlet. Elpaso salsa that should be £1.59 for 20p. I bought 10- love doing mexican stacks with nachos from aldi! 50 strong bin liners for £1.99, use two a week, so will be at 85% DMP paid off by the time I open the next lot. Lemon sole goujons ( 4 helpings) £1.49. I LOVE a bargain; did I mention?!

HHx
PS, actually wont be that upset if Wales win

Time_to_face_the_music

Hopelessly_Hopeful wrote: »

Very well said as ever Ms TTFTM.

I suspect I will be going head to head with my twin this afternoon though. Duals drawn for the rest of the afternoon then kiss and make up later (when we win)

Just grabbed some MSE bargains at a food outlet. Elpaso salsa that should be £1.59 for 20p. I bought 10- love doing mexican stacks with nachos from aldi! 50 strong bin liners for £1.99, use two a week, so will be at 85% DMP paid off by the time I open the next lot. Lemon sole goujons ( 4 helpings) £1.49. I LOVE a bargain; did I mention?!

HHx
PS, actually wont be that upset if Wales win

Watch the Welsh wizardry and weep :j

27-3! Oggy, oggy, oggy!

and 30-3 to finish. Oh what a game and OH is delirious :beer:

All around to your house for nachos and salsa now :D

Hopelessly_Hopeful

Time_to_face_the_music wrote: »

Watch the Welsh wizardry and weep :j

27-3! Oggy, oggy, oggy!

and 30-3 to finish. Oh what a game and OH is delirious :beer:

All around to your house for nachos and salsa now :D

Grrrrrr to be fair it was absolutely deserved. You would be very welcome twinny, just dont forget your spreadsheet!

HHx

Julie67

Well done Wales they did very well, thoroughly deserved:D

redballoon_2

hi all I sent letters to my credit card companies last week and so far ive only had one call from mbna who where helpful and sent me a letter saying they have withdrawn my credit card and frozen interests (yay!)

but havent heard from anyone else? barclaycard and tesco

i have had barclaycard ring me saying ive not paid and need to pay £x to bring my account up to date (automated call) but cant be put through to call centre to speak to anyone.

i have paid my £1 to each of the credit cards so far.

Ive switched banks and thats all going through ok, once direct debits and credits have been changed to new account i will be sending letter to hsbc about my overdraft debt as have been advised to pay them £1 a month too.

Should i chase them? or just sit back and wait?

Mossop01

Hi redballoon,mbna were the first to reply to us too, the others came in dribs n drabs, i did have to ring a couple of them and pester. Good luck

CELT

Total paid to date: £67,423.22
Estimated total remaining debt*: £0.00
Estimated completion date*: 04/03/2013*

After 5 years, where has the time gone! Best thing we ever did was that initial call to Payplan.

Don't struggle on trying to keep your head above water, the DMP is the way forward.

Good luck everyone.

Julie67

Wow that's fantastic Celt well done :j:j:j:j
🌟Can I come and live at your house lol.

No that's so great. Hope we are in a similar position in five years. You should be proud of yourselves:T:T