DMP Mutual Support Thread (Part Three)

rayday2

Spoken like a true pro!

All of above and take things one step at a time, wait to see what they say and be open and honest about everything and they will advise you of what is the best to do.

tara66_2

Hi All
Sira - Thanks for the encouragement, I think before I came here I thought it was just me! I will take your advice about getting them to record DH's permission for me to deal with them, I don't want this to slow down setting up my DMP as need some bits of inf to finalise the plan.

CS79 - I owe large amount to RBS and so far they have been ok. They have already stopped charging interest and the person I spoke to today (I think from their Solicitors) has said he expects that they will accept the DMP once gets I and E to them and was happy to be given the CCCS ref no. Don't know if this will last but just wanted to let you know.

Tara

tara66_2

PS Hi to all the new members, you will love it here everybody is really helpful

Janey51

Do those of you who have been in DMPs for a while still get statements from your creditors?
We get statements from some (Littlewoods, GE Money) but not from RBS,Goldfish, Tesco or HFC.
We have been going by the amounts showing on our CCCS monthly statements to know what we still owe but if the creditors have started adding interest again, we wouldn't know. :eek:
TBH, we are reluctant to contact them as things are so quiet. Had a fright when a letter arrived from Goldfish for DH to say he was £199 in arrears which was silly as we had not missed a CCCS payment. But I didn't hear anything and we are both in the same plan.
We got CCCS to send another I & E to Goldfish but then I started to wonder if they had started to add charges again.

JulieBarlow

I am thinking I am going to have to go on a DMP as my debts are much higher than my income. I have looked on the CCCS website and it says a DMP is my best option. I just wanted to find out about how likely it is that my credit card companies will accept it and also the long-term implications.

I have never defaulted on a payment yet so would this mean the credit card companies think I haven't got a problem?

Also, I have just transferred balances on some of my cards to try and get reduced rates so will these companies won't accept a DMP as it is a relatively new debt to them?

What are the long-term implications once the DMP has been completed, will I be unable to get a new mortgage or will I have to wait until all debts have cleared off my credit score (a further 6 years)?

Any help you can give me would be appreciated as I am tearing my hair out trying to decide what to do. Thankyou.

sam89

JulieBarlow wrote: »

I have never defaulted on a payment yet so would this mean the credit card companies think I haven't got a problem?

Hi Julie, I had never defaulted either (by using credit to pay credit) but found most creditors willing to accept the DMP. The exceptions were Citibank and GE. Initially they were awkward but have accepted now, we started our DMP September 07.

Good luck,
S.

telboy99

Hi Janey51,
I have 17 creditors and i only get statements from about 10 of them.
The ones who have served me with Default notices dont send statements any more.I rang them up and they confirmed to me that they had stopped interest charges. I also check with the credit file agencies every few months to make sure the balance they are showing against my debt is correct.
Only 1 creditor(Coop Bank) has refused to stop interest charges on my account but they have reduced it to 8% so i am still reducing my outstanding balance with them. I write regularly to ask them to stop all interest but will keep trying.
cheers,
telboy99

Janey51

Thanks for that tellboy99. We had 21 creditors initially and the only one who carried on charging was RBOS and we had 7 accounts (loan,current and business accounts) with them. We co-operated with them right from the start and like JulieBarlow we had never defaulted until Dec 2006 after contacting CCCS because I was moving money from one CC to another like a mad thing trying to keep ahead of the bills.
RBOS were horrible to us. Even though we had banked with them for years with no problem. We went to our local branch who were OK but when the debts got passed to their Credit Management dept, things went downhill. I was ready to jump under a bus and DH would have been straight after me.
The best thing we ever did was change our telephone number. We went from dreading the phone ringing to utter bliss :j

Mogminnie

Hi
I am new to all this. OH and I have just arranged to go with a DMP with payplan. I am very worried about what will happen conerns over losing our home although all payments are up to date on my mortgage and can afford to pay around 500 a month to a DMP. Have 2 children which is making me feel a bit like a useless parent but it ise reassuring to see other people discussing similar issues. Any advice would be greatfully received.

rayday2

If your mortgage is up to date then your home is safe, that is the whole point of a DMP it gives you the breathing space for the essentials, food, utility bills and mortgages!

You are not a useless parent, this topic is growing daily and every day in the news we see doom and gloom about the cost of living and finance.

If you have any specific worries in my mind, or just want a general boost this is the place to be!