Puzz tries again.. this time with claws... My DMP Journey. I will get debt free...

Puzzcat

PlymouthDad wrote: »

Awesome, thank you very much. if i was a brave man i would cancel my direct debits right now. RIGHT NOW..... ha. but I'm dragging my feet. the loan is the scariest. for some reason it feels worse offering a token payment for a fixed contractual sum than it does on a credit card. (even tho that is a contractual sum of a minimum payment).

Funnily enough I was most sad about including my loan as I had been paying it for 5 1/2 years and it was under 4k, 15k at highest.. thank you Natwest for consolidating.... NOT... but at least with that I could have seen an end, the credit cards were the real problem. I had 3 accounts with NW, current with od, cc - second largest debt and the loan so I owed them a fair whack and to be fair they have stopped interest on everything so i love them really..


Go on be brave......

just jumping back to the gambling.. is that online with cc? Just remember once you start this journey its no credit... you will be a cash only person....

PlymouthDad

I havent set up my new account yet. But i have taken the plunge and cancelled the direct debits! Feels strangely good. Will print out the letters tonight and send them with cheques tomorrow. Yes gambling was all online with cc's. So hopefully this will put a stop to that as well

Puzzcat

PlymouthDad wrote: »

I havent set up my new account yet. But i have taken the plunge and cancelled the direct debits! Feels strangely good. Will print out the letters tonight and send them with cheques tomorrow. Yes gambling was all online with cc's. So hopefully this will put a stop to that as well

Hi pd, do you have debts with your current bank ie; the loan? If so your first job should be to open a new basic bank account preferably before alerting current bank of problems. You need a safe account for your wages to be paid into so the bank does not use the right of offset to pay your debts.

PlymouthDad

I do yes. A loan payment. I havent cancelled that one yet. Hopefully i havent messed it up by cancelling the others.another question, i was going to send cheques for £1, does it matter that the cheques are from a joint account with my wife?

Puzzcat

PlymouthDad wrote: »

I do yes. A loan payment. I havent cancelled that one yet. Hopefully i havent messed it up by cancelling the others.another question, i was going to send cheques for £1, does it matter that the cheques are from a joint account with my wife?[/QUOTE

Are you going into a dmp together or are all the debt accounts in your name? You will be financially associated if you hold a joint account so your wife's credit rating will be affected as well.

Ellieseleven

Hello Puzzcat, just found your diary so I'm going to settle down and subscribe to your journey x

PlymouthDad

Good Morning,

I am going alone. all debts are in my name. Im guessing it makes no odds if the cheque is from our joint account.

Puzzcat

Day 4 of 9 off.. And I feel awful... Have spent most the day in bed, what a waste of leave. Never mind I wouldn't have been able to go to work so at least it doesn't affect my sick record. I am so rarily ill, I am a rubbish patient, hate doing nothing and am so bored already but everytime I try and do anything I have to sit down for ages after... :mad: Please be gone tomorrow.....


Hi Ellie, Lovely to see you, thanks for subscribing although you may doze off a few times if your planning on reading all my ramblings...!!!


Hi PD, I'm confused as to which account the debts are with? Is the joint account a clean account not being included in dmp? In which case I don't expect it makes any difference about the cheques. You could pop over to the dmp mutual support board and ask the lovely peeps over there..


Anyway got to play taxi for dd and friend and then a quick trip to a s.market and then i'm back probably to lie down again....

RebelRed

Thank you so much for sharing your experience with us puzz!
I am currently in that "waiting for things to happen" stage and it's been so incredibly stressful but your post has reassured me some what.
My 1st DMP payment goes out on the 10th March (it was going to be the 1st but I wanted to build some money up first) and I'm so worried my creditors won't accept the terms so I'm just going round in circles.
I'm going to take copies of your letters and keep hold of them if you don't mind? I'm so useless at communicating so they are perfect!

I'm sure I'll pop up in your inbox at some point needing advice! lol

PlymouthDad

Hi Puzzcat,

You have raised a very good and valid point there, I have mistakingly included the overdraft of the joint account (Lloyds) in the DMP. I guess I should take that out, then that one could be my 'clean' account also.

I'm going to start my own diary I think to keep me going and hopefully stop missing the little but important details!