DMP Mutual Support Thread (Part Three)

andytwonames

In my case, I'm going to cancel all of the loan/cc dd's a few days before they are next due and will be ready for the onslaught of snotty notes and calls.

Why can you not just pay Lloyds a token payment? I think this is one CCCS can answer for you.

Interesting to hear that CCCS say you can hold off starting the DMP 'till June. That would be handy for me. 2 months of token payments would ease the fact that there's an MOT and tax due one of the cars and there are four teenage feet in the house which need trainers (need, not want - they're in a terrible state)

10past6

lostalot wrote: »

Please can someone advice as i am trying to sort this on my own as there is no one to help and its really worrying me

Hello lostalot

OK, take this step by step, first, a new bank account is what you need, I have a Nat West step a/c, it took about 7 dyas for the confirmation to come through.

As for receiving letters from your creditors, THESE ARE SYSTEM GENERATED LETTERS, nothing at this stage for you to be to concerned about, they are made to intimdate you, as simple as that.

For example, if you are due to make a payment on 01st of the month, and nothing is received by 03rd, the computer system will generate a letter.

ald65

Dear Jenevieve
We have the some of the same creditors as you [except RBS AND A&L], all these have accepted the DMP and stopped interest and charges.
For us the DMP was the right way to go, however we did get lots of advice from Payplan first on different options available.
All the best for whatever you decide to do.

lostalot

Hi andy
I am a bit scared to pay token to LLoyds as they could cancel my od before i can tranfer tax credits wages etc to other account if and when i get one. I am almost up to my od limit with LLoyds so if it gets cancelled any money going in will get taken by them and dds for gas ins etc wont get paid.There is no way i could catch up with dd payments without wages etc. I have no choice but to keep paying lloyds debts for a couple of weeks til its all sorted with new account.
I would be over £200 better off if i could get away with just token payment to them but doubt if all will be sorted by next wed in order to be able to cancel payment.

ald65

sorry Lostalot misspelt your name!

lostalot

Thanks 10past 6
I sent the signed paperwork to Natwest yesterday so hoping i could get an account number before next monday if accepted. I havent ever missed payments with any creditors until last week so hoping they will say yes to basic account. if i get account number by monday i might be able to cancel dds with LLoyds in time but as my tax credits go in next Wed and wages from second job on the friday they could take them to cover od then i have nothing to live on or pay gas, ins dds etc.

lostalot

No worries ald65. I'm suprised i can spell at all at the mo , my mind is racing with all sorts.
Its great that people take the time to reply as its a bit lonely on my own and any support is greatly appreciated.

10past6

lostalot wrote: »

Thanks 10past 6
I sent the signed paperwork to Natwest yesterday so hoping i could get an account number before next monday if accepted. I havent ever missed payments with any creditors until last week so hoping they will say yes to basic account. if i get account number by monday i might be able to cancel dds with LLoyds in time but as my tax credits go in next Wed and wages from second job on the friday they could take them to cover od then i have nothing to live on or pay gas, ins dds etc.

Does your tax credits & salary go in to your accout BEFORE the DD are due out?

andytwonames

jenevieve wrote: »

After reading through a lot of this thread and thinking about this all day today, I think I am going to call CCCS and talk to them about my debts and the possibility of setting up a DMP.

DO IT.... NOW

jenevieve wrote: »

2)I know I will have to open a basic bank account and wondered which banks those already with a DMP favoured?

Someone may have a list but it is essential that you pick one which is not connected to anyone you owe money to. In my case, I have a virgin one account where the salary goes and a virgin credit card which will soon be in default. It seems that companies have a clause which basically says'If you owe us money on this account, we can take it from any other account you hold with us'

jenevieve wrote: »

3)I realise that those who are having uneventful DMPs possibly don't post as much on here but generally, is it a positive move forward or a whole load of extra grief and stress?

I have not yet seen a post from an old hand saying "I wish I hadn't". Honestly, however much grief and stress this might cause, you're already going through grief and stress because your debts are getting on top of you.

jenevieve wrote: »

4) is the budget you agree to a reasonable one? None of my friends or family know about this mess I am in and I plan to keep it that way - could not bear the shame really. Theoretically, I should have a rather nice disposable income that due to my debts I obviously don't have - and I don't want to be in the position of being obviously scrimping bigtime.

Go on to the CCCS web site and fill in their online thingy. The link is under the bit that says "Need help right away?" in big friendly letters. It's all anonymous and it's a good place to start and then you'll know what you're dealing with.

Anyone getting to this point financially has come up against a wall where things cannot continue as they have been and therefore things MUST change. You don't have to tell the family "I'm skint", you tell them that you have decided to take better control over your finances. The fact that you are using a DMP is nobodys business but yours, your creditors and all of us here.

jenevieve wrote: »

Thanks for listening to the ramble; I feel like I am teetering on the edge of a cliff unsure of whether to jump or not, even though I maybe think that jumping will be a good move for me......

JUMP!
Anyone nearby?...... Give her a shove.

lostalot

Tax credit next wed 23rd wages next fri 25th then loan dd on the monday 28th. If i dont cancel the loan dd in time they will just make my od over the agreed limit or wont pay it i expect.