DMP Mutual Support Thread (Part Three)

Jvic28

bernie_inn wrote: »

Hi I have debts of approx £55000 and i'm going to get in touch with cccs sometime this week to sort out a DMP. Can anybody tell me how long these take to set up? and how long do they stay on your credit history for is it 6 years from when the DMP is set up or from when it is paid off? Sorry about all the questions I find it quite bizarre that i am now worried about entering into one of these plans when in the past I would apply for a credit card or loan (and get it) without a second thought.

Hi,

Any history stays on your report for 6 years regardless of when you start the DMP. If your creditors agree to reduced payments it will show on your report as a special arrangement. Any defaults etc will show on there for 6 years from the date of default.


My DMP was set up really quickly. I filled in the form on the CCCS website on the 17th April and already 1 creditor has accepted reduced payments and I am ready to make my first payment on 1st June. What a relief it's all underway.

x

rayday2

So_Sad_Angel wrote: »

Hey Ray day

New to DMP....given that I will lose job If I go BR I am looking to DMP , CCCS & Nat Debtline agree...can I be DMP member ? (OH went BR & of course I support but want to try & pay off my stuff myself..if poss) .

Angiex

Added number 195 - Big Welcome :T

rayday2

Etherelda wrote: »

Sorry to bombard the thread with questions, hopefully I'll learn something, and one day pass the knowledge on.

I'm going to send my forms off for my NDL DMP on thurs, after taking out my wages from old account to my new parachute account.

I've seen some people have been paying token payments of £1. I was thinking it would be fairish to offer what the NDL are proposing for my payments to creditors.

Also, I don't know whether to cancel the DDs to the creditors that currently stand before thurs.

Can anyone point me in the direction of the letter to tell your creditors that you have applied for a DMP, and to please be patient or whatever>?

Thanks

Eth

I would try to cancel your direct debits if possible it shows you are genuinely struggling but if its not possible you tried. I found setting up my DMP I tried to harvest as much cash as possible into my new bank account as I knew no overdraft I was going to have to learn to behave!

I will try to find a letter sure one was posted on here a few days back so will bump it up for you.

andytwonames

Etherelda wrote: »

Can anyone point me in the direction of the letter to tell your creditors that you have applied for a DMP, and to please be patient or whatever>?

any bank address...............................................your address
money grubbing road ........................................your town
etc ........................................................................your county
etc ........................................................................post code

post code .................................................date



Dear Sirs,


Re:- Account 1234567


We are writing to inform you that we are seeking advice and assistance regarding our current financial difficulties. To this end, we are in the process of setting up a Debt Management Plan with the Consumer Credit Counselling Service and our client reference number with them is 1234567.


We would appreciate if you could hold any action on the above account for a period of at least 28 days. In the meantime as a gesture of goodwill we have enclosed a token payment of £1. Postal Order number 1234567

During this period, could you please freeze interest and/or any other charges accruing on the above account.

We do not wish to deal with this matter by telephone and respectfully request that all communications are made in writing. We look forward to hearing from you as soon as possible.

This letter was sent by recorded delivery DV 1111 2222 3GB

Yours faithfully

rayday2

The main bones of this I took from National Debtline letter but added a bit about token payments.

The Loan Company
Company House,
Church Street,
Newtown,
Kent,
R1 7HG

Dear Sir/Madam

Re:- Account/Reference Number 4563210025897412

We are writing to inform you that we are seeking advice and assistance regarding our current financial
difficulties.

To this end, we would appreciate if you could hold any action on the above account for a period of at least 28 days. In the meanwhile as a gesture of goodwill please accept a token payment of £X.

Also, during this period, could you please freeze interest and/or any other charges accruing on the above account.

We look forward to hearing from you as soon as possible.

Yours faithfully

Mr A N Other

rayday2

Andy you beat me to it and yours is better than mine! That will teach me to randomly post where I am instead of checking the last page!

Just_Me_4

Got the CCCS letter today when DH comes home we will be signing and posting.:j

I know it was just a standard letter but it was very nicely worded and sympathetic.

rayday2

Its an important letter one that lets you see light at the end of the tunnel!

Shazand

My husband and I finally called CCCS yesterday and they were fantastic :j

They have suggested a DMP, which we agreed so just waiting for the pack through the post.

We feel like a huge weight has been lifted from our shoulders and at last I slept for the first time last night.

I have a couple of queries that I am hoping all you experts can help with. At what point do you cancel the DD's and SO's ? Also what is the usual 'token payment' we send to the creditors ?

I am concerned about the phone calls though, like a couple of you said I cannot ignore the phone otherwise I will drive myself mad wondering who it was !!:rolleyes:

wen3

Shazand, maybe we should start our own thread about the phone thing lol

Just me had a good idea about changing your number wouldn't work for me as even at the age of 41 I still cannot lie to my Dad and he would ask why we had done it. He dosen't ask about money things so I don't have to lie to him re the DMP just not tell him