Dmp Mutal Support Thread (Part Two)

SortingIt_2

Me again, sorry!

I have a quick question re saving accounts. I now just have a current account with Nationwide. My question is does anyone have a savings account too?? I would like to open one but don't want my creditors to think I have excess money. My main reason is that now and then I get opportunity for overtime etc and don't want to keep it in my current account all will just be spent and want to save to paying off extra or clear a debt. Also if don't spend budgeted money one month then would like to put what is left aside if you get what I mean.
Any advice or experiences re saving whilst on a DMP would be helpful. I don't mean massive savings as just don't have the money - hence the DMP!! I am just worried that creditors will see a savings account (can they??) and then think the worse. Thanks in advance xx

rayday2

I now have loads of savings accounts and ISAs!

Both me and hubby are in the DMP together, now we have one Yorkshire bank saving account, one cahoot one, two A&L ones, one L&G cash ISA and one Yorkshire Building Society one (this one I can highly recommend you can set it up online with only £10 and I pay £20 a month into it - this is my emergency fund). The other cash ISA was £500 start, hubby got a company car so we sold ours and invested some of the money so if he loses a job we can buy another run around and this is one ISA we will not touch.

The other savings accounts are for things like, annual gas servicing, also we pay into the three girls savings accounts now which we never did before.

SortingIt_2

Thanks Rayday. I think I def will open one, will help budget/save for things.
Much appreciated. x

amani_2

hi everyone, hope you are all ok. Our DMP seems to be running smooth after 7 months. HELIFAX have suspended their calls for 3 weeks, wrote back and told them I only want contact in writting. We will see what they say.

I have noticed some people on here having problems with MBNA, we have debt with them about £4,500 and with VIRGIN MONEY £2,500. We have never had a phone call from them. They have stopped interest and charges, it has took them 6 months though. hope this helps someone.


AMANI XXX

amani_2

Nice to see you back YM :j

rayday2

SortingIt wrote: »

Thanks Rayday. I think I def will open one, will help budget/save for things.
Much appreciated. x

I think it is important to get in the habit of saving now we don't have cards to fall back on, it is nice to see things paid off quick but so important to budget for everything and then budget for what you don't expect in life!

This year as some of the oldies will know has been a nightmare for us, mother in law ended up in ICU and we had to pay for hotels for three nights, the recent bolier thing, car repairs unexpected, school uniform but we got through it and the debts are slowly coming down!

Sorry sounded a bit preachy there but the rest of this board is all about hammering debts down which is important but for us DMP-ers we have to get our balance of life right again, learn new ways and budget beyond what anyone else has too!

I'll go now lol!

JillyOJolly

HI, I have tried all sorts to get MBNA to recognise my DMP with Payplan and reduce or freeze interest. No chance. One lady even said that Payplan "were a load of rubbish and couldnt do their jobs for toffee". Charming!

Apparently because I paid them more each month than what my minimum payment was they didnt accept the DMP, but a regular customer. So... in November last year I reduced my payments to them to bring it under the minimum payment and what happened, the charges just went up and up. They were informed by Payplan to put it in default at that time instead of waiting, but they refused and still refuse and reject every offer that is sent to them. This time I am apparently 97p short of what they want and I was shouted out by a girl no older than my 13 year old niece I am sure. Who just didnt understand that a DMP is a DMP and it doesnt matter whether it is 97p or £97 to pay over and above the DMP to one creditor is not how it works. I have now paid MBNA £3,800 since June, 2005 and the balance is the same with no signs of lowering.

If I wasnt a single parent and tried to turn my life around I am not sure if I would have made it.

I am still hoping to get replies about the f&f whilst on Payplan..... any experiences..... tips or pitfalls to avoid?

Thanks again for reading...

rayday2

Have you tried writing a letter of formal complaint, I did with Lloyds bank I listed all the payments I had made, against the charges they had levelled listed all the letters of communications I had made telling them of my problems then I pointed out the courts would frown on there actions as they are not helping you to get out of debt, I did get some success, money back, case of wine and accepted payments for a year with frozen interest.

SortingIt_2

RD2 - you are completely right. It's the not/lack of saving and budgeting that over the past 10/11 years has got me in this mess. Just being able to whack something on a store card/credit card and then consolidation loans got me to where I am today...nowhere!

Now I am taking control I have to think further down the line and save/budget for every eventuality that may come my way. I am determined to do it properly this time round being that I haven't so far. It's all new ground but I am positive I will do well now that I have taken this final step in sorting my debts once and for all!

Thanks again xx

JillyOJolly

Thanks for the advice, Thats where I am at now. I have written them a four page letter showing and quoting every breach they have done, how they have made me feel, who I have spoken to when and even offered them voice recordings of the lady dissing Payplan and over 97p with her threats at court action! With this letter I have included a list of charges with the interest on.

It takes me a lot of courage to answer their calls. I was quite a happy person until all this. My lightbulb moment came with two deaths in the family, leaving me a single parent and when my father died. I am so proud of what I have achieved so far.... MBNA have definitely put a dampner on things though. I just want out now. I have been putting a little savings by each month and am now ready to pay off the last amount for f&f's (except MBNA).

Do you think my letter will reach a decent complaints advisor? I have spoken to a couple who made a LOT of promises, none of which have materialised.

I am prepared to take them further if necessary and I am sure I will need all the help I can get then. For now, I am grateful for any support! I have felt so alone for so long.

Thanks