DMP Mutual Support Thread (Part Three)

longforthesun

Hi just posted a wee thread of my own saying that OH and I are in the process of entering into a DMP with CCCS and that once it was up and running I was hoping to join this support thread and get my own number. Hypno06 kindly advised me that there is no need to wait till I am fully up and running and to hop on over and ask for a number. So here I am, can i please have a number?:o

Many thanks

sunshine38_2

longforthesun wrote: »

Hi just posted a wee thread of my own saying that OH and I are in the process of entering into a DMP with CCCS and that once it was up and running I was hoping to join this support thread and get my own number. Hypno06 kindly advised me that there is no need to wait till I am fully up and running and to hop on over and ask for a number. So here I am, can i please have a number?:o

Many thanks

Hi there - welcome to the DMP gang - there are some lovely supportive folk over here. I think when Rayday pops in she will give you the next number.
So, in the meantime, feel free to join in.

We're just getting started with CCCS too and have had lots of questions in the build up to it and no doubt I will have many more in the long months to come.

Not too much to report other than hubby actually received his Easycash account card and PIN - I'm still waiting for mine to be sorted even though I applied the week before him Hope that's not a bad sign?! Still, will wait and see.

Have received our initial pack from CCCS so we can get started sending out their standard letter to our creditors.

The earlier letters we sent have seen some cheques for £1 banked already and we got a call from Littlewoods Visa last night. I quoted the CCCS reference number and the guy was lovely - just said that they would wait to hear from them and he would update their systems. :j If all phone calls with creditors could be like that then it will be a dream getting this all sorted - somehow though, I very much doubt that all creditors will be as nice. Fingers crossed though.

So far so good

Hope everyone is doing ok.

sunshine38_2

Summer1969 wrote: »

Hi everyone

Many thanks for all the help and advice I have been given. Me and OH set up a Classic Plus Bank Account with Lloyds today, and told them we didn't want a credit card or an overdraft. Our creditors are not linked to any of them, just as well reading some of your horror stories about them!

In the next month, I will be sorting out getting OH's salary paid into it and the DDs. Then I will do the dreaded 'cancelling' the direct debits to our creditors, scared about that bit! I know I can cancel the DD to the CC companies and then send them a token payment. But confused about our 3 loans. They don't send statements with a payment slip at the bottom, as part of the Loan Agreement is you have to pay by direct debit, so not sure how to pay them a token payment.

Any advice?

Not been getting much sleep the past few nights, hope that gets better.

Hi Summer

Sorry to hear that you've not been sleeping too well - it seems to make everything feel worse when you are tired and worrying about things.

I'm not exactly sure as to what the "right" way would be to go about dealing with your three loans but if I were in your shoes then I would probably go ahead and cancel the direct debits anyway and then when they write to you, you will have some contact details on the incoming letter. I would use the details from that letter and obviously quote your account reference number and just send either the cheque/postal order back to that address without a payment slip. As long as the account reference number is correct they should still be able to match up the payment to your account. Someone else may have a better solution but, as I say, if I were in your shoes then that is how I would probably deal with those.

Please dont feel afraid about cancelling any direct debits/standing orders - it's just a process that you need to go through. I know that it means the inevitable contact from creditors but once you get this hurdle out of the way, things should start to settle down and you will have a clearer idea of what is happening with the long term plan.

You can do this - stay positive

sam89

Hi Summer,

We just cancelled the DDs for our loans. By the time the payments were missed and they contacted us our DMP was (almost) up and running so I wouldn't worry too much. I only sent token payments to companies who sent statements.

I know what the sleepless nights are like but they're a thing of the past for me now and they soon will be for you. Facing the debt and getting started are the hardest parts so well done to everyone who is just starting out :T .

Sam,
x.

Summer1969

Thank you again everyone.

I am getting myself in a pickle. Received the pack from the DMP, getting scared now. Worried that the creditors don't have to freeze interest and most worried that some creditors can still take you to Court and the CCCS can't do anything about that.

I keep looking at IVAs and I just don't know which one is right for us. I read that if you have over a certain amount of debt, which we have (£63k), a DMP is not suitable as you will be paying it off forever and also with an IVA, the creditors have to freeze interest and can't take you to Court. I am so confused, this is such a big decision, I want to get it right. I know with an IVA, our property is at risk but it is on the market anyway, we are going into rented and the equity was going on our debts anyway.

Just not sure - wondered if a face to face meeting would help me decide things, maybe the CAB as well as ringing the CCCS again to tell them our fears about it?

sunshine38_2

Hi Summer

I understand your concerns.

I would call CCCS and tell them about your fears. What comes to my mind is that if you are selling your house anyway with the intention of repaying debts with the equity then I would have thought that a DMP would be a good step to start with rather than an IVA. Once you have sold your house then you will be offering full and final payments to creditors and it will be all sorted.

Hopefully someone with more experience will be along shortly to offer some help. All I can say regarding CCJs and the like, when I spoke to CCCS they reminded me that it would not be the end of the world if creditors went along that route - and it's true, it's just a process. Okay, the word "failure" sticks in my mind - I've never had a CCJ and I cant really bear the thought of ending up with one, but this is a step I need to take to get on the DMP, facing up to dealing with the debts rather than going around in circles. Perhaps I may end up with a CCJ (although I hope I wont!) and if that happens, then I will just have to deal with it at the time. There's no point me fretting about it (even though I know I will sometimes!).

Keep gathering information and talking to people. It took a long time for me/hubby to decide to go on a DMP. You will find the "right" course for you to take soon.

Sorry, got to go to chase the kids getting ready for school.

Have a good day.

sam89

Summer1969 wrote: »

Thank you again everyone.

I am getting myself in a pickle. Received the pack from the DMP, getting scared now. Worried that the creditors don't have to freeze interest and most worried that some creditors can still take you to Court and the CCCS can't do anything about that. They don't have to freeze interest but the majority do. Initially all 8 of our creditors stopped interest. Lloyds TSB are the only ones who have started again but they are only charging us 6%. I write to them every month asking them to stop again but that's another story for another thread . They can take you to court for a CCJ but any judge who sees you are in a DMP will be likely to reset the payment at a similar level to what you are paying, none of my creditors have gone for a CCJ.

I keep looking at IVAs and I just don't know which one is right for us. I read that if you have over a certain amount of debt, which we have (£63k), a DMP is not suitable as you will be paying it off forever and also with an IVA, the creditors have to freeze interest and can't take you to Court. I am so confused, this is such a big decision, I want to get it right. I know with an IVA, our property is at risk but it is on the market anyway, we are going into rented and the equity was going on our debts anyway. As you can see from my signature our debts were huge when we finally had our LBM . We're with Payplan and our DMP was going to be 8 years but is now down to about 6&1/2. So size of debt doesn't seem to be an issue. Have a look at the Long Haul Supporters thread there is lots of good advice on there too. Are you sure you really want to sell your house? Is that what CCCS advise you to do? Not risking losing our house was one of the things that made us go the DMP route.

Just not sure - wondered if a face to face meeting would help me decide things, maybe the CAB as well as ringing the CCCS again to tell them our fears about it?

Definitely discuss everything with CCCS . The more information you give them the more appropriate the solution will be for you.

Hope this helps,
Sam,
x.

rayday2

Hello! Everyone

Not had chance to catch up with everyones comings and goings.

I am getting really nervous at the moment with news headlines about rising costs etc, having said that shopped at Sainsburys at the weekend and it was cheaper than Netto. Think its the mortal fear of putting in the basket at Sainsburys that does it whereas at Netto you go mad!

I just wish we could sort our the tax credits thing and know what we have to live on for the year.

That and I have been really naughty spending but not strong enough to confess lol!

Gemmzie

Morning Rayday2,
We are scared too with the rises in food and fuel - eek.

Still two good lots of news to update on - Capital One have finally replied and they are happy with the same payment for another six months And the mortgage is going down by £17 next month from the latest base rate drop :j

Next tasks, find cheaper home/contents insurance (hopefully with some cash back), change the electric/gas onto fixed tariffs

rayday2

Hi Gemms that could be a good idea wonder if I can fix my gas and electric? Not long changed over so don't really want to faff again but fixing could be good.

My continuing saga with Lloyds not accepting higher payments on our credit cards - they said big bad no. I got a statement today and they credited the payment, didn't charge any interest but only want £11 next month not the £26. Not heard anything else from them so seeing as no interest being added I will ignore them too!