Dmp Mutal Support Thread (Part Two)

AFCChris

Hi there

Would appreciate some help with my DMP situation.

CCCS are waiting for me to confirm some stuff to do my DMP. I included my overdraft into the plan and I didn't understand that this would mean that they would be included, and further to that I didn't understand that I would have to stop using the accounts. I have a Ultimate Reward current account with Halifax and have had it for 14 years and the wife also has an account and has for 10 years so we don't really want to change from these.

They say they won't give me the DMP unless I include the bank account so I guess my first question would be to ask if there is any way around this?

Assuming not they said I need to find another bank account. I have an Intelligent Finance account but CCCS say this wouldn't be sufficient as IF is owned by Halifax and they could take money from it. I don't understand how they can do this if it's a different account with different T&C's??

I can apply for another account but I pay in £2500 a month and don't want to have to go to a basic account really.

I am now wondering if I should not go down the DMP route on this, and maybe try and talk to my creditors about lower payments?

Extremely stressed right now, so appreciate any help and comfort

Cheers

Chris

newlywed

To be honest I changed my account I'd had for over 15 years. The benefits of the DMP are so great that the minor inconvenience wasn't much.

I think the banks can still offset your debt from your savings, even with different types of accounts etc. Think HSBC can do this with First Direct - its in the small print usually.

CCCS say all of your debts should be included. The only other way might be to pay the overdraft of your current account (obviously depending how large it is).

I got an A&L Premier account as my wages go in every month. I applied online and have found them good. I asked for NO overdraft and NO credit card to keep in with the T&C of the DMP (ie no new credit taken out). I got a cheque book and Visa Debit card with that (not an electron card). I have savings accounts with them now too - all can be accessed online.

craftingqueen_2

Many thanks ILGD it's great to have everyone's support,i'm so scared of losing our home due to a forced charging order.Hubby rang KPR today, and they said the payment that we were paying was too low.So they are putting it to there solicitor's who will then make a decision on the courts etc.But the thing is our highest creditor has accepted our DMP but not this one which is one of our smaller creditors!

cq

AFCChris

Thanks for the response. I must admit since I posted I just applied for a First Direct account but I just checked about the A&L one and wonder if that's better for me and want to apply for that. Do you think it would be OK (credit file wise) if I applied for another account around the same time as applying for another?

I guess if I got both approved I would have the option of not taking up one of them?

Regards

Chris

newlywed

I'm not sure about the credit file side - to be honest if you go on a DMP then I shouldn't worry too much as you can get defaults on the DMP for not paying the full minimum payments. And part of the T&C of the DMP is not to get any credit anyway

First Direct are good - that's who I was with (but had to move due to credit card debts). Unless of course you have any debts with HSBC as they can then "offset" your wages against the HSBC debt

First Direct were the first to accept my DMP and reduce interest for me too, so I am still impressed by them - even though I no longer bank there.

AFCChris

Thanks. I have no other dealings with HSBC so that's why I thought they would be good. They seem to be quite innovative with text messages and stuff and I like that.

Cheers for all the help

Chris

yellowmonkey

Hi.

Just thought i would pop in and say hello :hello:

Not a lot going on at the moment apart from my jaw which is sore and from last night hurts so much more. Little attempt at poetry there.

Hope you are all well

ym

newlywed

Hi all. Quiet here. No post at all for me for a few days.

Trying to work out how OH's ex could not be able to drop kids to us yesterday evening because of a major problem with her car, and yet managed to drop them at school this morning, collect them from school and also attend the school sports day She seems to think that she got her her clutch fixed between 7 pm and 8 am!! Yet they weren't there at 9pm last night when we dropped the kids back to her :rolleyes:

I suspect the truth was much more the fact that it was raining and she didn't want to leave the house.

AFCChris

Good news! :T

I was accepted for my Alliance and Leicester current account application already so at least I have a decent account to move to.

Newlywed - I assume that this account is what you got? If so, was the switching of all the direct debits and stuff all easy enough?

So pleased anyway. I wonder if first direct offer me an account as well. I'll probably take that one too!

Cheers

Chris

AFCChris

While I'm at it I have a more general question about DMP. I should be able to get the plan going soon and and get rid of my present current accounts once the A&L one is in place.

I have a mortgage offer and another one on the way from another lender which should be coming next week. I am hoping that as the mortgage isn't covered by the CCCS stuff that I should be able to go ahead as normal, and surely it's in my interests to get the cheapest rate possible to save money. As I will have the offers before anything goes on my record I should be OK.

One of the mortgage offers is from Halifax, and I was wondering if you think the offer would be withdrawn if they see me defaulting on my current account and Visa credit card?

What do you think?

Cheers

Chris