DMP & Mutual Support Thread - Part 10

Puzzcat

pbuxton2782 wrote: »

Hi

I was wondering if anyone can give me some advice if they've had experience with dmp. I have been with Gregory Pennington since 2011 i have a few problems and took out 4 payday loans over the past 6 months the usual taking one out to pay the other. I have emailed Gregory Pennington to see if they will add these accounts to my plan will this happen do you know ? what advice can you give me to stop the payday loans wiping my account at the end of the month ? Hope some one can give me some advice please.

Firstly dump GP and go to a free provider such as stepchange or payplan. Then all your hard earned money goes to paying off the debts.
Cancel your CPA with your bank and the payday loan companies and notify the payday loan companies that you are entering a dmp with... and offer a token payment whilst the plan is being set up.
I'm sure someone else will be along soon with lots of wise words for you.
Good Luck.

Kate_fixing_it

D'oh! Interview is at TWO not one! :rotfl: at least I didn't get it the other way around it's now 1.15 and the nerves haven't kicked in yet. No idea why as I get stressed if we have informal meetings and I have to have some input yet this will be a whole hour focused on me!

Thanks for your support lovely people.

Kate x

Growurown

pbuxton2782 wrote: »

Hi

I was wondering if anyone can give me some advice if they've had experience with dmp. I have been with Gregory Pennington since 2011 i have a few problems and took out 4 payday loans over the past 6 months the usual taking one out to pay the other. I have emailed Gregory Pennington to see if they will add these accounts to my plan will this happen do you know ? what advice can you give me to stop the payday loans wiping my account at the end of the month ? Hope some one can give me some advice please.

Absolutely agree with Puzz here, dump this lot. Start again with a free provider and include the payday loans. The fact that you've had to use payday loans suggests you are struggling on your budget, so set a realistic budget you can stick to. Also you can take this opportunity to make a few months token payments to build up a bit of an emergency fund too.

Kate_fixing_it

I'd echo the sentiment of dump GP. I don't know your individual situation (and it's none of my business) but I believe they take a fee of around £30 a month. You've been paying this for 3 years so you've given them over £1,000 already that could have come off your debt.

Draw a line now, chalk it up to experience and start afresh. A free provider will get you debt free far quicker. Get all the PDLs into a new agreement, stick to the new budget and start your new life.

You can do this.

Kate x

Kate_fixing_it

Hi all,

Interview seemed to go okay - much better than the last one I did my best and I'll know next week. For now life goes on. If this opportunity doesn't happen for me then there will be another. I really really want it but we'll see what fate/the universe/life has in store for me. I'm trying not to get too excited and not get my hopes up but it's really hard. This opportunity would mean that I wouldn't have to rely on tax credits and I'd be able to increase my DMP payments by more than double!

I think I need to just sleep until I'm told!

HSBC have (finally) responded - if you can call it that. They still haven't addressed the points in my complaint so it's off to the FOS we go. No response from creation either regarding the interest. I'm just being impatient and wanting it all gone NOW.

Kate x

Sazzie23

pbuxton2782 wrote: »

Hi

I was wondering if anyone can give me some advice if they've had experience with dmp. I have been with Gregory Pennington since 2011 i have a few problems and took out 4 payday loans over the past 6 months the usual taking one out to pay the other. I have emailed Gregory Pennington to see if they will add these accounts to my plan will this happen do you know ? what advice can you give me to stop the payday loans wiping my account at the end of the month ? Hope some one can give me some advice please.

Hi PB

You've come to the right place, probably more DMP advice in this one thread than you'll find anywhere else.

My advice too is dump GP and go to a free provider, it has been shown they are just as good if not better.

As GUO says, cancel your CPAs and advise every creditor, new or old that you are changing/ going to a DMP provider and make token payments of £1 while you sort it out.

If you need PDL than your budget is wrong. As an example when I started mine I literally didn't go out as couldn't afford £2 fuel, this sort of budget is only sustainable for a very short time. Work your budget on the minimum income and if you can find a bit extra occasional months you can make additional payments or get a little savings fund for emergencies, much better than a PDL as it gives you a feeling of control.

Get a notebook and pen, make a plan and start ticking off when you have done, I'd start with,

cancel CPAs
Call Stepchange (SC)/PayPal/other free DMP provider
Call/email GP
Write to new creditors
Write to existing creditors
Send token payments to all

Then work through the SC steps, such as getting up to date balances etc. come back here often, we like company, and the advice here is free, honest and non judgemental.

Well done for facing up to debt issues and trying to fix them.

Sazzie23

Kate_fixing_it wrote: »

Hi all,

Interview seemed to go okay - much better than the last one I did my best and I'll know next week. For now life goes on. If this opportunity doesn't happen for me then there will be another. I really really want it but we'll see what fate/the universe/life has in store for me. I'm trying not to get too excited and not get my hopes up but it's really hard. This opportunity would mean that I wouldn't have to rely on tax credits and I'd be able to increase my DMP payments by more than double!

I think I need to just sleep until I'm told!

HSBC have (finally) responded - if you can call it that. They still haven't addressed the points in my complaint so it's off to the FOS we go. No response from creation either regarding the interest. I'm just being impatient and wanting it all gone NOW.

Kate x

Just wondering how it went, sounds promising though. I know you'll take it in your stride whatever the outcome, but good luck all the same.

I got confused last week, are the exams for this job, the current job or something else?

For me debt busting dimbo, I'd been struggling all month with a milestone, then as I went to 65% left this month it occurred to me that I've gone past the 1/3 paid mark and not realised ....:rotfl:

Have a good weekend everyone

Puzzcat

Sazzie23 wrote: »

Just wondering how it went, sounds promising though. I know you'll take it in your stride whatever the outcome, but good luck all the same.

I got confused last week, are the exams for this job, the current job or something else?

For me debt busting dimbo, I'd been struggling all month with a milestone, then as I went to 65% left this month it occurred to me that I've gone past the 1/3 paid mark and not realised ....:rotfl:

Have a good weekend everyone

Sazzie, if you edit your signature slightly it will lose all the !!! that you are currently displaying.
Well done on reaching a new milestone.
Puzz.x

Kate_fixing_it

Sazzie23 wrote: »

Just wondering how it went, sounds promising though. I know you'll take it in your stride whatever the outcome, but good luck all the same.

I got confused last week, are the exams for this job, the current job or something else?

For me debt busting dimbo, I'd been struggling all month with a milestone, then as I went to 65% left this month it occurred to me that I've gone past the 1/3 paid mark and not realised ....:rotfl:

Have a good weekend everyone

Congratulations on crossing another milestone :T

The exams are an ongoing thing. All the jobs are internal applications as I work for a massive company. The company are sponsoring my studies and after these exams I have 3 more years to qualify as (ironically) an accountant. This job would be a huge help to studying as I'd see what I'm learning in practice and there would be masses to learn (and a nice salary boost too ) it also happens that being a DFW is a huge help. I have learned a vast amount from this forum that's relevant to what I'm studying even at this early stage.

Kate x

Puzzcat

All sounding very positive Kate. X

Hope all my fellow dmp'ers are having a good weekend.
Puzz.x