Dmp Mutal Support Thread (Part Two)

debrag

yes my payments go out 21st of the month but Decembers are going out today or so Payplan say.

SortingIt_2

Afternoon,
Hope everyone is find and dandy. Not been on in a while, trying to not make it my priority this year (NY resolution) and became slightly addicted to logging on every 5 mins to read various posts!

Seem's lot of DMP underway - I have been reading a lot in the papers recently and it seems more and more common now.

I just have a quick question to ask, my plan is to save (as and when I can!) as much money as possible to enable me to pay my DMP off early. Obviously this is going to be a few years down the line but I was wondering if there is a limit to how much you can hold in a savings account whilst on a DMP. I understand that creditors wouldn't be too happy if you have a few hundred tucked away when you still owe them money but I really want to end this nightmare and save, save, save by any means possible to finish my DMP as quick as possible.

Any advice would be great.

Take care

xx

debrag

well if it's not with a company on your DMP then they will only find out if you tell them. I plan to overpay my DMP from time to time also.

catseyes22

Hi all, I'm new here and I have been with Payplan for the last 15 months. The only one of my creditors not to freeze interest etc is Alliance & Leicester credit card. Here's my dilemma - should I continue to pay off set amounts each month to them via Payplan even with the added interest or should I stop making payments to them which will eventually lead to a default and interest being frozen. My outstanding balance has increased by £1200 in 15 months! My thinking is,that while they are receiving some sort of payment they will continue to take it and just keep adding the interest to my balance. I would much rather see the balances from my other creditors reduce even quicker than they already are.
Any thoughts folks?

ilovegreatdanes

hi catseyes
theres a very good template letter on the nat.debtline website.
www.nationaldebtline.co.uk
and they also send you an a4 pack out with all sorts of stuff and factsheets.well worth a look.send them the "stop the charges or send me to court" letter so they know you are serious.also ask payplan to exert pressure on them.a+l know your circumstances and they shouldnt be profitting from your financial misery.
i would tell them that you will stop payments from next month if they dont stop charges cos the debts never going to go down so you are better off at court.even adding costs to your debt wouldnt add 1200 to the total and im sure the judge would side with you, so at least you would be paying off the debt eventually.tell a+l that all the rest have agreed and have been really helpful.could throw in about bankruptcy so they wouldnt get any money back.
keep in touch. good luck.

was my birthday yesturday and think for first time i was able to say.....another year older and NOT deeper in debt!!!!!
love ilgd xx

ilovegreatdanes

btw, sortingit,
ever thought about opening the savings a/c in a childs a/c??that way you get more interest and if the creditors check up, you can say its not your dosh.and assuming you have kids........
ilgd xx

debrag

I have a question.

I have a creditor 'First National Trinity' they have been taking £9.27 from me since March 2006 but my balance hasn't changed. According in my creditexpert file my status is [8], according to Equifax my account was closed 12/4/06 with status [D] but I haven't received any letters, okay so I moved August 06 but surely I should have received something before then. Callcredit say I'm in default but not that the account has been closed

pinkkat8910

debrag wrote: »

I have a question.

I have a creditor 'First National Trinity' they have been taking £9.27 from me since March 2006 but my balance hasn't changed. According in my creditexpert file my status is [8], according to Equifax my account was closed 12/4/06 with status [D] but I haven't received any letters, okay so I moved August 06 but surely I should have received something before then. Callcredit say I'm in default but not that the account has been closed

You'll be best off contacting the creditor direct debrag and asking them what the crack is with it

debrag

I shall be doing that today

catseyes22

Thanks Ilovegreatdanes, Have downloaded the national debt line pack and shall be going through it this afternoon. They have some great templates on there too, needless to say, a letter to A & L will be in the post! Thanks again.