DMP Mutual Support Thread (Part Three)

gonna_be

repayments are calculated pro-rata this depends on the total debt, proposed payment, and total number of creditors. so you should not be paying more than your orginal payments this site has loads of info template letters etc http://www.nationaldebtline.co.uk/england_wales/index.phpjust just to add I got my first letter today from GE Money accepting DMP with CCCS.and interest frozen I am stunned asthese are one of the creditors that would not entertain me before cccs AND always phoned me nattering for payments even though i had sent letters to them!!!rayday2 please may i have a number I have paid my 1st instalment to cccs

Dski

Please Rayday can I have a number too ?

rayday2

Dski wrote: »

Please Rayday can I have a number too ?

Welcome! Number 166

rayday2

gonna_be wrote: »

rayday2 please may i have a number I have paid my 1st instalment to cccs

Welcome! Number 165 I believe!

gonna_be

Hi dski I am new too. no one apart from my OH, DS and DD know about our debts either except from CCCS that is</p>we have 12 creditors and owe a 90k</p>I had good news with my first letter it was acceptance but am expecting others to be harsh. oh well they cant have want you aint got!!! good luck with your DMP

Dski

Thanks Rayday2! You are the voice of reason and font of all knowledge from what I have seen so far. Any comments on my dilemna would be appreciated.
Thanks,dski

gonna_be

rayday2 wrote: »

Welcome! Number 165 I believe!

THANKS rayday2 feel part of the family now

Dski

Thanks gonnabe ... I want to pay it all back and when I go back to work will be able to offer quite a bit more but just am not prepared for what is waiting until then ! But as you say if we havent got it now, then they cant have it !

rayday2

Dski had a read through your post.

To be honest the early days of a DMP are bit a like a game, they do like a final push to see if they can squeeze a bit extra out of you. Once they get a few payments and you are saying the same story they get the message and accept usually.

Also some companies are just incompetant as to how they deal with things. Can take a while till you get to speak or write to someone who even knows what a DMP is.

All I can really say is be patient, stick with it, what you have done is very responsible. I know its easy for us to say who are settled in our DMPs but one day you will be. Take each day as it comes, you don't have to answer phone calls - I mean I changed my number completely but others just have caller display and answer when they feel like it.

I bet you wish you had done it earlier so you could enjoy baby without the worry! I find pre DMP days you worry endlessly once on a DMP you are more anxious than worried, you know you have a solution its just getting it all in place, then later on it just becomes life really.

loopylu36

Thanks for the info regarding pro-rata figures offered to creditors but I'm still confused (it doesn't take much!)

Although NR are my biggest creditor with £27,000 o/s because this was originally tied to the mortgage the term is over 25 years and so the repayments are only £280 p/m

I have now figured out that actually this debt equates to 20.61% of my overall debt. If CCCS pay them 20.61% of my monthly payment to them then it still equates to £308 p/m? I am (supposed) to be working today but will ring CCCS tomorrow to see if they can clarify. TBH I am happy for them to make an offer to NR of very close to the contracted amount as I think NR are the people likely to get the nastiest. I am usually late in paying them and they issue default notices like confetti (even if you are only one month behind) Interestingly tho, the loan account has only recently appeared on my credit file (it had been marked as settled ) but they never actually record a default notice. I think that this is "scare tactics" by NR as people probably panic when they get a default.

I thought that you had to be about 3 months behind before a default notice could be issued anyway, but I could well be wrong about that?

I will post when I have spoken to CCCS with a definate answer.