Dmp Mutal Support Thread (Part Two)

yellowmonkey

Hi and welcome to all newbies.

How are you all. Have not had time to read all the posts but i hope everything is going OK. Have not been on for a while as i have been a bit addicted to this site and have thought of nothing but my debts for about 3 months now. Thought i would take a little time out as i have been feeling a bit down as well. Dont know if there is such a thing as the male menopause:rotfl: . I think i have been dwelling to much on the length of time before DFD and a lot of other things. Have decided to take each day as it comes and not look to far ahead.

DMP wise everthing is going well at the moment. Made 2 payments to Payplan now with the 3rd due on Monday. Pay day today as well and i must get to grips with this grocery challenge. I was £120 odd pounds over for last month so must do better. Going to see Shrek with the kids soon and have even got 2 free tickets from the Kellogs promotion and will go on a halfprice day as well. Some of this advice must be rubbing off :T

Am at work at the moment so i wish you good night and will catch up with you all later

Take care

ym

xgingerx

Morning All, well could do with some advice, starting my DMP in July, had 2 letters from 2 creditors and wonder what to do as interest not stopping, at this rate i will be on a DMP for the next 30 years !!

1) mbna - offer to pay £38 but they are saying to prevent Default must pay £40 ? Am I better off them defaulting me or should I try to pay the extra £2 ??

2) hsbc - accepted offer but again , interest will still accure

I honestly feel like chucking the towel in, I cant see the light at the end of the tunnel and wondering if I should go down the IVA route?

Any views would be helpful

Thanks - not a good start to the day

newlywed

Bolton, when I got calls at work I just said "I'm at work it isn't convenient to talk". Then took their number to ring them later. Then you can say it's a marketing call or insurance something....

xgingerx My experience is that interest isn't stopped until a few weeks after your first payment reaches them. Your first payment should get to them around 25th July if you are with CCCS - so interest should stop a little while after that. I've made my second payment and interest has only just been stopped on one account and reduced to about a third on the other account, so don't panic too much just now

I think they wait for your first payment to make sure you are telling them the truth and are really going to make payments via CCCS.

xgingerx

thanks Newlywed, it is pretty scary when I dont feel in control. Unfortunately this month my car tax and insurance are due so unable to make my full first payment, but maybe this will speed them up to default me , i dont know, CCCS said obviously I need to get to work so the tax and insurance are priority or i wont have any money at all. I have a very happy 6 year old daughter who I love more than anythin in the world and obviously I hide all the worry about this mess im in from her (rightly so !) but I feel like Im already letting her down, I dont know why I feel like this as she wants for nothing and I always make the effort to take her somewhere on a weekend, even if its a bike ride but for some reason I feel this way, stupid i know !

Anyway Newlywed glad things seem to be working for you and thankyoufor giving me some reassurance from you that it is early days still so am probably panicing a bit. I know that some creditors will threaten defaults but to be honest my credit file is shot anyway and I dont intend in getting in this mess again. So will be avoiding credit like the plague

By the sounds of it CCCS reckon the best thing to stop intertest is to get defaulted, so in the meantime looks like I will have to stick with it.

Again Thanks

Ex-Spendaholic

Morning all

Ginger don't worry about the defaults. They are inevitable anyway once you get your DMP up and running. I have a fine collection of them. :rotfl: Sorry to sound flippant but once I got through the horrific stage where you are at now I changed my whole outlook and I try not to let the whole thing get me down any more. Once you get that DMP started and they all accept your life will be better, I promise.

For those of you worrying that creditors won't accept the DMP - they will. Some will take longer than others but they accept in the end. It doesn't look like that at first and is really worrying but they will. Also the will stop interest.

Other than that I have nothing useful to say. I'm awaiting on list of bank charges from Hellifax. I'm getting obsessed by it all. I'm going to get every last penny from the !!!!!! and then I'll take on a whole range of people. I will be Overdraft free and have chunks off various debts by the end of September if it's the last thing I do.

I'm not worrying about opening another bank account any more. People seem to be able to retain their accounts after claiming charges.

Have you all seen this prepaid credit card? http://www.idtprime.com/ It appears to be new. Basically you buy it in a paypoint store or online and load it with up to £150 if in a store or £500 if online. You can then use it online or in stores. It costs £3. It looks quite good. I think I'm going to get one or two. I was thinking it would be good to put the food budget on one and then just use it and have another one for something else.

Right better go. Hello to everyone new and old. It's great that this thread is still going strong.:T

newlywed

Ginger, Mint defaulted me. But they haven't stopped interest yet. CCCS said not to worry they would write to them again (as interest is more than my payments). They also said if they want to send it to Debt Collection (which stops interest) they have to default it. Someone else said Mint never acknowledged the DMP but stopped interest after 4 months.

All a default does is show on your credit report. No-one was giving me any more credit anyway as I "had too much credit for my income" . So not much difference really in any case . By the time I finish my DMP, the default should be ready to drop off my report too - not that I care as I don't want credit cards again!

It really is the best thing I've done, the fact that you have CCCS to help sort it out, the fact that one has stopped interest and one reduced it. I'm already saving about £350 a month interest and charges for those two that have stopped/reduced interest. Just need to sit it out and wait for the last CC to stop interest.

It's going to take just over 5 years for me to pay this lot off, but at least it will be paid off - rather than going up because of interest and spending. And in the scheme of things, waiting a few months for someone to stop interest isn't too bad compared with the total interest I would have paid making minimum payments without the DMP!!! :eek:

bowz25

hi all
not used site for few days as my son and daughter both off school due to flooding (sons school may be off until after summer holidays. He has been off nearly 2 weeks now so i am beginning to feel stressed to say the least. I am trying not to spend money with dmp etc but its hard. If he does not go back it will mean i am looking at 11 weeks of no school. Like some people however we are lucky and not flooded in the home. We are stuggling with childcare for when i work (family are helping but i may have already lost 1 days pay hubby used holidays etc.

anyway on dmp side of things creditors have received our first payments despite still ringing but i am getting good with phone calls now. Lloyds have been the worst ringing constantly saying same thing and they rang me once at work but i got number removed they still ask for work number when they ring and they text my husband.
ge have issued default and all statements from creditors for this month still showing full interest and late payment charges etc, so i think this is normal as the other posts show.
My debt balance has increased as well,you can update this on cccs website but i dont want to upset myself so think will leave this for now until plan has been running longer.
lots of post mostly from creditors standard letters etc.

bye all for now
take care

craftingqueen_2

bowz25,

Know how you feel about LLOYDS!

cq

toasti

Hi folks.
Just been running through my July budget and it's gonne be tight but think I can do it! I have planned my meals and am planning on freezing loads of food for the month so hopefully that should be OK.
Thing is it's my birthday and I want to do something yet still save money. On my actual birthday I was thinking of going out for a meal (happy hour) then a couple of drinks after (friends can buy them lol). Then the Saturday I am going to a local festival,have already got my ticket and planning on taking my own booze so that should not be too bad! Just wondered if any of you have any other suggestions on what I could do on my birthday itself,maybe that doesn't involve going out for a meal? Hope you can help!
Toasti

yellowmonkey

Morning all.

Nothing really to report but thought i would pop in and say hello.

Hope everything is OK with everyone and will catch up later

ym