Dmp Mutal Support Thread (Part Two)

cloudnine_2

newlywed wrote: »

Hi cloudnine - not all will issue defaults to you - I've been on DMP since May and had one default near the start and another last month. The other 3 creditors haven't issued defaults at all


Thanks so much, Thats a load off my mind, The default notice looks so scary compard to other correspondence I've received, but I guess thats the whole point.

FieryBlondeScot

i have been on my DMP for 2 years and my debt is now around 6.5k, i was all looking to do a F&F settlement of around 3k max , however at my DMP review (where my payments were increased by £100!!!) the advisor said that as i was still dealing with all my original creditors they would be unlikely to accept less than 80-90% of the debt owed to them, thus costing me around 5k. i was already on a tight budget the past 2 years and i am fed up of the debt now and another £100 on top towards the plan is a good thing overall but on a daily level its a bit depressing that any extra money gets swiped :-( no relaxing with it at all i just want rid of the remaining debt now so i can start to move on a bit :-(

Does anybody know what my best approach to this would be ? i dont think it would be a wise idea to cancell CCCS cos surely then the phone calls, letters, defaults, bailiffs issuues would soon crank up ?

moneydesperate_x

Please can i join?

I am new to this site and am waiting for my CCCs DMP welcome pack to arrive.

newlywed

HI moneydesperate - anyone can join in - all are welcome - feel free to ask any questions and we'll try and help

debrag

forgot to phone HFC last night so will do that tonight.

Still don't know what to do about First National know

savvy14

I have been reading around some other MSE threads - I have read in some cases that people's debt has increased by a certain amount since starting a DMP - how is that possible? We got our forms today to send out to creditors.

I really am not sure if this is the right thing to do - are we jeopardising everything?

debrag

some creditors may add interest at first, then stop charging anything

debrag

some creditor may add interest at first then stop all charges

savvy14

Thanks debrag. We are worried because we don't get any charges now - well we can manage our minimum payments. If we go on a DMP will it spiral even more?

debrag

I wouldn't think so. As your meeting the mini payments they they wouldn't be charging you, I suppose it will be below mini now so may get some but I wouldn't have thought a lot