DMP Mutual Support Thread (Part Three)

10past6

WhoopieDoodle wrote: »

Why oh why oh why do creditors insist they have received nothing from us when they have had payments and Payplan have reassured us 100% that they have contacted them? Arghhhhhhhhhhhhhhhh!

Had a letter from NastyWest stating the above, i.e, no correspondence whatsoever from Payplan and because of this they will not freeze interest or charges (as they don't offer interest free loans!)

I just cannot understand why they are denying any correspondence from Payplan? Is this a game?

Off to bang my head on something very hard!

Hi Whoopie

If you can, phone Nat West, speak to a supervisor / manager, obtain their name and fax number, go back to Payplan, and ask them to fax your I&E and your "Letter of Authority" to them.

rayday2

First rule of thumb with DMP get out of your mind DFD dates (mine was about 34 years!) because the whole point is learning to live again so its not 6 years of struggling like you are because you will free some more money up. We get into a habit of paying everyone and then thinking we only have £x to live in and a DMP readdresses that balance.

Now I am not too sure how a credit union works and my advice here may be a little wrong so hopefully some others can help if I am wrong. But from what I know credit unions are better than turning to someone like Provident. So if you can somehow up some outgoings to cover the cost of your credit union (only you will know if this is possible) then it could be a good idea. Again please jump in if I am wrong.

I run my own DMP so it is possible after a while to leave CCCS and handle it yourself.

Huge question now is your bank account connected to anyone you owe if it is open a new bank account this is the first thing you will be advised the sooner you do it the chances of getting a better bank account you have.

sunshine38_2

Thanks Rayday, that's a great help already.

I have tried to help OH sort one out for his (he's with HSBC at moment) but not had much luck yet. He tried for a Halifax basic account was was told no. I've just tried Citibank after looking on the current account thread but still waiting to hear. I know we've got to get him one somehow, but how many can you approach in total? Will everyone just keep saying no?

I actually tried to do the Halifax Easycash Account last night online and it says it will let me know within 7 days - I dont know whether thats a good or a bad sign. I have banked with the Abbey for 15 years and have a massive overdraft which will need to be included in the DMP so I know that I've now got to get another account. Its just soooo hard to let go of my debit card!

I guess if you end up with money to actually "live on" each month that must help you psychologically with things in general. We do end up paying everything else (most of the time) and having absolutely nothing left and the borrowing cycle starts all over again.

Where the credit union is concerned I dont think they show up on credit files as such (I could be totally wrong there myself) so I was wondering whether I could tweak my budget to include the payments I currently make and leave that completely separate. My reasoning being that all the while that I continue to save up a little each month, even if I dont actually want a loan as such, I could withdraw my savings/shares and have spare money that we might need in a real emergency.

Well done on your self managed DMP - you seem to have everything under control

Sx

rayday2

Maybe you could do with ringing or applying in person and making sure you ask for a basic account as they shouldn't need to do a full credit check just basically check you exist.

Here is a link to linked banks:

http://www.payplan.com/debt-library/miscellaneous.php

And more information of what you get with types of basic accounts (hope this is up to date for you)

http://www.payplan.com/pdf/bank_acc.pdf

What you say re finding money for the credit untion sounds feasable. I was terrible setting up my DMP I had regular prescritions for asthma *coughs - see you can see how bad it was!* and the children stayed school dinners - apparently! Just to give me that extra cash to get by on.

loopylu36

Well that's that - I've been fired!

I just received an email, telling me that "as the local conveyancing market has been slow recently, for this and other reasons (including performance issues) we have decided to terminate your employment with effect from 21 May. If you wish to leave earlier please let me know" No warning, no nothing! Can they do this? I suspect they can, cos one of the partners OH is a big wig employment lawyer so I am sure they would have checked. Anyhoo, why would I want to leave early - not planning on going back to work and at least I'll get sick pay, although I suppose as I have been sacked I could claim job seekers until I find something else?

Not too sure how I feel really... getting the sack doesn't do much for your self esteem... There may have been one or two "performance issues" but doh, that's why I'm not at work cos I was finding it hard to cope, not becasue I'm a lazy c*w! Not that they mentioned these "issues" before I went sick anyway. If they thought anything of me at all, they could have tried to help. Basically they have just ignored me til now.. don't know whether I want to cry or kill someone or neither really - guess the ad's are keeping me level headed, thank god or think i would fall apart. I;m trying to cling onto the fact that something good will come from all of this...

jenevieve

jenevieve wrote: »

I'm a bit worried that I may not get accepted for a DMP; would they turn me down? I am making all my mimimum payments but for the last few months have lived on cash withdrawn on my credit cards. Although, I am sure that bad budgeting on my behalf contributes to this.

Here is my monthly I&O:

Income - 1825

Outgoings
Rent(inclusive of all bills except phone) 450
Mobile 31
Contact lens plan 11
Car insurance 14
Gym (due to expire Aug & won't be renewing) 35
Food 130
Toiletries 30
Petrol 60

Total: 761

Debts & monthly minimum payments (total debt 54K)
NR loan 346
MBNA CC 180
Barclaycard CC 145
A&L CC 55
RBS 50
Next catalogue 60
Littlewoods catalogue 30

Total 866

Overall total 1627

Should leave me approx 195 to put towards birthdays/Xmas/car tax/entertainment/going out/clothes & everything else.

Even if I manage to live within my means, I am still not reducing my debt by much by paying the minimum payments.
Am I being realistic? I have convinced myself a DMP is the sensible choice but I am too well-off? In reading the thread when it first started, I see some people are paying much less monthly than I probably could. I wonder will CCCS not accept me? I just don't think I will get anywhere without a DMP freezing interest.

What do you think?

Rayday, I'm posting this again in the hope you will see it and tell me what you think. I'm on the verge of calling CCCS this afternoon. After all current cc/loan/catalogue payments and essential outgoings, I have about £500 for food, clothes, toiletries, petrol, going out. I am single without dependants but am only paying off the absolute minimum every month.
Should I be being ultra frugal or would I qualify for a dmp?
Please advice before I pluck up courage to call cccs.
Thanks

sunshine38_2

rayday2 wrote: »

What you say re finding money for the credit untion sounds feasable. I was terrible setting up my DMP I had regular prescritions for asthma *coughs - see you can see how bad it was!* and the children stayed school dinners - apparently! Just to give me that extra cash to get by on.

:rotfl: :rotfl: :rotfl: :rotfl:


Thanks, that's cheered me up. I hope your cough doesnt get better too soon

I will take a closer look at those links a bit later on - lunch time is over and I guess I should get on with actually earning those much needed pennies.

Thanks again for your help, I'm feeling more positive already. Enjoy the rest of your day (hopefully in your newly mowed lawn that you will never have to mow again !)

Sx

jenevieve

:grouphug: Hi loopylu, I'm so sorry to hear you have been sacked. Sending you a big hug.
It was really awful of them to treat you like this. Hopefully this means that there is something better around the corner for you.
Keep posting, I don't know about you but this forum is saving my life at the moment x

rayday2

jenevieve wrote: »

Rayday, I'm posting this again in the hope you will see it and tell me what you think. I'm on the verge of calling CCCS this afternoon. After all current cc/loan/catalogue payments and essential outgoings, I have about £500 for food, clothes, toiletries, petrol, going out. I am single without dependants but am only paying off the absolute minimum every month.
Should I be being ultra frugal or would I qualify for a dmp?
Please advice before I pluck up courage to call cccs.
Thanks

Hmm you officially have my thinking head on.

On paper you look like you could cope, are you living off any credit like bills going on credit cards or overdrafts, food etc

Maybe if you looked over your last credit cards and bank statements you could check to see if you actually spend those amounts, you may budget that much but could overspend.

Thing that worries me is a DMP as you will know will hurt your credit history but if you are not managing to live then it will help you. The fact you have run credit up could mean that you don't manage to live on the figures you quoted.

Not sure if it helps but these are the official agreed amounts for us to live on as far as credit companies are concerned;

http://www.hmrc.gov.uk/manuals/dmbmanual/DMBM800120.htm

What does anyone else think?

rayday2

loopylu36 wrote: »

Well that's that - I've been fired!

Well I guess thats your dilemma gone! But I can appreciate how you feel try to ignore the bit about performance and think well its a credit crunch and on a CV with dates like this everyone is going to believe its down to a business decision.

Are you fired or redundant? There is a difference to be fired you have to go through all the written warnings, verbal etc, redundancy is completely different and how long have you been at the company.

I don't sound very sympathetic here I am. Earlier I read your post with interest and how supportive your partner was with you. So I would see today as the answer to your dilemma, pick yourself up get a bottle of wine and put the stressful chapter behind you!

Not sure about procedures breaking it to you via email but modern day I guess - the gits!