Dmp Mutal Support Thread (Part Two)

mummum2

:j That's wonderful news!!! hoping the same will happen with me with my creditors.

Good weekend all and keep smiling!

MM2x

ilovegreatdanes

quik hi to rayday......agree entirely with the club thing and the childish posters on the man forums....spoiling it for all on purpose.
hi dr jekyll,long time, no here.
ym.....hi, xx
amani......hi, xx
will keep popping in but not as regular.
dh is on mend........grumpy old man comes to mind,never mind.
lots of love to all, ilgd xx

yellowmonkey

Hi and good morning to you all.

Just finished a set of nights so thought I would pop in and say Hi. No news DMP wise but I have taken the plunge and have now given up smoking :T

3 days now and,so far,no real problems. Off to bed for a couple of hours then out christmas shopping then back to finish outside lights followed by a roast.

Hope you all have a great Sunday

ym

jodenice

Hi all,

Someone has directed me to this thread and I thought I'd ask if i could join?

My boyfriend is about to start a DMP. He owes about £26K (unsecured) to various creditors (RSB, Lloyds (loan and credit card), Barclays, Next, Argos, Cahoot). I myself went bankrupt about 5 years ago and once upon a time we were debt free. but my boyfriend suffered depression and has been secretly piling the debts up. Now he is on medication he is horrified but its too late, its all done now. We have a property together which we bought in april, it only has about 6K equity so we can't use this.

At one point, using my wages, we have been paying £800 + per month to all the creditors and its crippling us, I cannot go on like this. So we have taken my wages out of the loop, looked at his finances and CCCS have recommended a debt payment plan.

I tried a dmp before i went bankrupt and none of them accepted it. I'm terrified that thats going to happen now, that we'll end up in court, that we'll owe people forever, that debt collectors will bang on the door... i'm sitting here whilst my boyfriends asleep having a bit of a cry, i just wanted to know what other peoples experiences are.

does anyone owe as much as us? CCCS says it will take about 9 years to pay it off.

SortingIt_2

Hello,

I hope you have managed to stop crying now. You have def come to the right place for support. I am in the initial stages of setting a DMP and have just made my first payment and so far things have been ok. Yet to see if they will accept but I have no other options.

As for the amount that you owe, everyone is differenct and has different circumstances. I owe over 60K (for various reason including an ex!!!) and am in the DMP alone and it will take a while but I know it's the only option for me and the right one.

I think it is great that you are supporting your boyfriend in this, especially if he has been suffering with depression.

I would suggest reading back through this thread as there are so many helpful tips etc - a good read for facts and peoples experiences.

Keep us updated on how you get on. Good luck xx

newlywed

Hi jodenice. I admit, I owe more than you guys. On my own. OH had a few debts when we got together but I had lots. At it's peak (with OH with no work for nearly a year) it reached about £39k - all my name.

I was petrified too. Mint (RBS) never replied to any of my letters at all. Not a squeak. But after 4 months they issued a default for my credit card and stopped charging me interest and late payment fees. It's not gone to debt collector yet and they are still not charging any interest or anything on it - so it is finally coming down. The loan they agreed for 6 months and recently rang to ask me to up my payments. I referred them back to CCCS who have my up to date budget. Not heard from them since.

All my other creditors accepted the DMP much more quickly. First direct are still charging interest but they were first to accept and dropped interest down to 6% instead of about 20%. They are the only one still charging me interest. No late payments fees or anything though.

To be honest, contacting CCCS was the best thing I did. I wish I had done it sooner. The relief knowing that someone else is there to help is huge. OH was there to support me but he didn't really know what to do.

I was worried about having to go through it on the phone with someone so filled in the web forms and started the DMP that way.

One creditor refused at first but after the second payment, then accepted the DMP - I think some refuse until they really start to get your money and see that you meant it!

Instead of paying about £800+ a month in interest fees, I now pay about £40 interest.

I figured that if just one of the creditors stops or reduces interest, I would be better off. It worked out much better than that for me.

The DMP payments are worked out on my wage alone (we worked out half of all the household bills and I entered those as my outgoings). The debts were my doing so it's me paying them. CCCS is fine with this, although they did query the low tv licence fee etc where I had put half figures down.

rayday2

Hi Jodenice, I think creditors are getting used to DMPs now and realise its a sign of the times. I pay about £40 a month to all mine and owe around 17k and mine all have suspended interest, took some time getting there but I was doing my own DMP.

The thing is not to get down get even, see it as a challenge to get them all on board, with the knowledge of this site and this thread behind you, you will get there. Sounds really corney I know but we are all proof that eventually companies listen!

rayday2

amani wrote: »

We have a CC with VIRGIN and MBNA we have received a letter from them both today saying "As a result of your continued payments by your due date, we have restructured your account. We have cleared your arrears and the credit reference agencies will be informed that your account is now up to date.

HELIFAX have also stopped their constant calling!


AMANI XXX

I had to read that several times to make sure I was seeing right! Loads of people on here will be glad to see MBNA saying something like that!

amani_2

rayday2 wrote: »

I had to read that several times to make sure I was seeing right! Loads of people on here will be glad to see MBNA saying something like that!

Me too rayday but yes I have it in black and white! Thats why I posted it on here as I know there are people on hear having lots of problems with MBNA!!!

AMANI XXX

amani_2

Hi jodenice I have been on a DMP with CCCs for 8 months (owed £21k) and all creditors except Mint have excepted. Its the best thing we have done. I felt exactly the same as you when we first called CCCs, it will get better though. As rayday says creditors are getting used to DMPs now!

Hi newlywed long time no see.

YM GOODLUCK with the no smoking.