DMP Mutual Support Thread (Part Three)

Shazand

Just_Me wrote: »

Shazand we applied online on Sunday and got the letter today which we will sign and return tomorrow.

We were going to make one last minimum payment on everything before cancelling our direct debits, does this sound like a bad idea? Our reason for doing the dmp is that we can afford to pay our debts but have nothing left over to live on each month.

Thanks Just Me. That is really fast, hopefully then we should have the paperwork either tomorrow or Friday.:j

I rang CCCS regarding a query on one of our creditors, so while I was on I asked what I should do about the payments that are due this week. They advised that I work out what I can afford and then split it between the creditors with the highest creditor getting the most. So I have done that but also taken the advise from 'rayday' and kept back alittle for my new account incase of emergency while I transfer banks.

We are the same, just about paying the bills but have nothing left at all, not been on holiday in 3 years !!! A night at the cinema is a extreme treat !

Summer1969

Hi all, having a bit of a wobble today! Haven't signed the DMP pack yet as seeing the CAB tonight and wanted as much info as poss before we made a decision. I rang the CCCS today to ask her if she could email me my Debt Remedy Plan as I wanted to take it to the CAB. She wasn't as 'softly softly approach' nice as the last lady I spoke to at the CCCS, she said we should be cancelling everything now as it is technically fraud that we are paying creditors with credit. Eeek! I know it is, just when she said it to me, I felt like a t*t.

We don't have time now to get OH's salary paid into our new bank account for the end of this month, we can't do it til end of June, his firm needs more notice than that. But she kept saying, 'you should be cancelling everything now as you need to put that money by'. I know what she is saying, but it will be too much of a rush to get everything cancelled, letters go out, OH's salary paid into a new account, all by the end of this month, its putting me in a panic!

Is it ok to put everything off a month, it will give me more time to make sure everything is done properly. I have so many DDs to change and to cancel. So we pay them normal payment beginning of June, then I send them all a £1 token payment at the beginning of July, with covering letter, and DMP should start 1st July or August. We can put the money by that we are not sending them beginning of July. Sorry if that confuses everyone, I am confused.

rayday2

When I set my DMP up after I had got my new bank account (the only thing I had to pass a credit check for) I didn't pay anything to my creditors for a month that gave me the money I needed for my new bank account. Took about two weeks after missing a payment for any reminder letters to come then they got the token payments.

The timing has to be right for you!

Summer1969

Thanks. I know it means our debt will be bigger if we leave it a month, and I will have to ring the CCCS up to amend our figures, but I do think we need that month to get everything sorted out.

rayday2

A month extra will not make much more difference to your debt but it will to your survival. One thing you need is money in the bank to survive the coming month and until you have that you can't really start.

We abandoned our current account and left the overdraft to be rolled into our DMP so we had to get the new one healthy as we were working from a zero start really.

Summer1969

Oooh as I have you here.

I had a bit of conflicting advice from CCCS. What do you think?

First phone call to them - they said if OH gets extra commission some months, put it to one side then pay off our smallest debt first (o/d with NatWest for £1200) and then so on.

Second phone call to them - they said its best to split the extra money between all the creditors as you shouldn't show favouritism.

rayday2

If overtime is not regular or bonuses then it should not be included in your DMP payments. You don't want to be changing your payments to often to your creditors. If that clears that one up for you!

Summer1969

rayday2 wrote: »

If overtime is not regular or bonuses then it should not be included in your DMP payments. You don't want to be changing your payments to often to your creditors. If that clears that one up for you!

CCCS have not included commission on the DMP. First lady said, if he gets extra, he should let it pile up a bit and pay smallest debt first, whereas second lady said, split it. But I thought as you do, they might think we can afford to pay more and start not playing ball.

Summer1969

Oh and I said to second lady, 'how would the other creditors know I have paid another creditor off before them?' and she said, they could do a credit check and see that I have paid someone off.

WhoopieDoodle

Hello folks. Just checking in and hello to the newbies

Regarding the question about Alliance and Leicester and MBNA; if your credit card is A&L then MBNA can dip into your bank account as they are linked. If you don't have an Alliance and Leicester CC you will be okay.

We had some goods new yesterday - Lloyds TSB have finally agreed to our DMP and frozen all interest etc! Whoopie!

So we only have Nasty West to play ball, but I've a feeling that could take some time.

I have made a meat and potato pie for dinner and some flapjacks. However, the latter are rather hard so we may be at the dentist tonight with broken teeth!