DMP Mutual Support Thread (Part Three)

Marru

Hi Rugby,

You should set up a new account with a bank you don't owe money to (make sure it is not linked to any of your current creditors either). Ask your present bank to give you a list of all your standing orders and direct debits and then cancel them with your present bank and set them up yourself to your new bank. It might mean spending one day on the phone to call all the suppliers that have dd with you but it is worth it as then you can be sure that no unwanted dd's will slip through. Make sure that your salary goes into the new account. And start doing it TOMORROW! Check out some cash back sites to see if you can use any offers. For example if you open Alliance & Leicester account through Quidco you get £50.- cash back (I wish I had known that in January when I did it)

Good luck!!

Marru

smilealot

Hey rugby,

Good advice from Marru there. Open a new bank account asap. You could be cheeky and try to do it asap and if your credit score is currently okay, you'll be able to get a normal VISA debit card, but if your score is a bit dodgy, the best you can expect to get is a VISA electron card. That's okay though, as most places take that as normal and for those who don't you can get a prepay Mastercard or Visa card (which looks no different). Remember that you won't be able to use credit again until you've repaid all your debt, but that's a GOOD thing and it's a small price to pay for yoru creditors cancelling interest and charges

I hate to say this, but your bank manager will already know that you're having trouble. I approached my bank (who I'd been with since I was 3) and they said they were expecting me to come to them at some point, as they can see how much credit you've got, not just with them and they can tell whether you're coping with it. Your credit score is also affected in this way. Your bank manager will be much happier that you are trying to do something about it and, at the end of the day, they are there to provide you with a service and that's it.

You will toughen up - but it will take time. The first few weeks aren't great as it takes time for the creditors to hear about your DMP and some of the not so understanding ones may try to bully you into paying them more (which you can't do as it's a condition of the DMP that the payments are calculated on a pro-rata basis - they know all this!). However, you'll come on here when you feel worried or shaky and we'll sort you out. That's how this thread started. Teecee and I (and a few others) started our DMP at the same time and we were terrified about it all and taking calls from creditors. We chatted on the occasion random thread and then decided to start our own special thread. Each of us would have a bad day every so often and the others would be there to tell us to tell them where to go and put the phone down. Now our DMPs are all running like well-oiled machines and we're passing on the advice to others.

Anyway, I'm babbling!

Tigert

Hi Rugby,

Just to echo what Marru says(edit : and smilealot - some people are lightening quick with their replies :cheesy: ). Get yourself a new account and make this a priority.

'd been with my bank for 22 years - they too had been nice, but you are right - it was just to get your business. My bank has been noticeably less nice now that I need help. Look after yourself first - you will be paying the bank back, just that it'll be on fair terms with the rest of your creditors.

It is likely that your bank will close down your account, but the answer is not to tell them about your DMP until everything is switched to your new account. Payplan didn't write to my bank until I confirmed with them that my salary had arrived in my new account.

I know it's hard not to worry about these things, I'm only a month ahead of you, but I've now got my salary going into my new account and the 1st payment has been made to my creditors. I feel so much better knowing that I'm doing something.

Yes I still have my down moments - The letters aren't nice and I can't bring myself to answer the phone at the moment. But my friends are there for me and I've found the advice on here and other sites to be brilliant.

I know it sounds trivial, but it's only money - You are doing the right thing and facing up to the responsibility of your debt and doing your best to resolve it. What more can be asked of you?

Good Luck with sorting it all out.

TigerT

smilealot

Off to watch Gavin & Stacey - love it! Back in a bit.

rugby6ft8

You guys are amazing! I'm going to try and open an Alliance and Leicester account and get things moving. Will Lloyds not call me and ask why my wage is not being paid into that account anymore and demand I pay off the £2800 overdraft, or will that be paid off by the DMP and organised through Payplan, if its all accepted?

I will open up a new bank account so that it is ready regardless, I think that is best. If A&L wont accept me then i'll try the Co-op.

Gavin and Stacey rocks. Its filmed near to where I live in Cardiff.

Marru

Hi,

I used to bank with NW and I haven't heard a beep from them re my overdraft and personal loan (my cc has been defaulted) but I do have a cc with Lloyds and they have been very vocal. There might be someone here who knows more about the od side of things in Lloyds.

Marru

PS don't forget the cashback!!!

smilealot

Hi Marru :hello:

Rugby - they won't notice that you've transferred your salary, they don't look that closely. Your overdraft will become a debt to be paid off by your DMP, so your account would have to be closed anyway. Did you include your overdraft in your Payplan debt list? I'm with the Co-Op and they've been great. I have my trusty Visa Electron

I loooove Gavin & Stacey so much. It's the only programme which makes me laugh out loud non-stop. So live near Barry then?!

timetobefree

Hi everyone

Rugby6ft8 I have a o/d with lloyds and they've just agrred to my dmp for six monthe. i made first payment in Feb so has been two months. They have said that next interest will still be charged and they have increased my o/d to cover this.. agreement was reached on Friday and from then no more interest will be charged for next six monthes at least.

When i started my DMP i opened a readycash account with the Yorkshire bank and got a Maestro card with no credit checks only a bankrptcy checl so got acccount within five minutes of walking in. I was very honest and upfront with them why i wanted new account and they were very helpfull. I even got a savings account and now actually put money into it. That is a first for me, my car has just been serviced and i can afford to pay cash for it as i've been putting it away for last three months a good feeling.

lisabell

Just a quick update i called cccs the other day to see about moving from my DMP with churchwood financial over to them they were so helpful and really put my mind at rest and said it should be easy to switch as all the paperwork is already in place.
And hopefully we should be switched before next months payment to churchwood on the 2nd.
They have e mailed me the pack with all the paperwork and my appt is a week on tuesday.
The only thing i want to know is do they need copies of bank statements to see what you are actually paying for your bills cause with churchwood we did exagerate a few of them just to give us a bit of space.
Have now got to try and figure out how much we do owe and get on the phone to some of the companies on my churchood financial statement as i dont have a clue who they are or how much we owe them ( some debt collection services company we have never recieved anything off them)
So any help regarding proof of outgoings would be great
Thanks
Lisa

smilealot

Hi lisabell :hello:

I'm with Payplan and I've only ever had to send a payslip to prove my earnings and I've been with them for over a year. Does that help?

smilealot :rolleyes2