DMP Mutual Support Thread (Part Three)

Shazand

Sorry GOLDGPR, I am not sure about the mortgage, but someone will be along soon to help.

I just wanted to do a quick post to say 'WOW', this thread is amazing, I feel safe being part of a big DMP group who advise, support and encourage each other.

Welcome to the new members, now you have joined this thread, any questions you have will be answered from the vast experiences on here.

We are in the early stages, our 1st DMP payment comes out on 1st July and we are just waiting for the creditors to accept DMP.

Keep posting.

maz1964

Hiya all and welcome to new members since i last posted, we are growing

it is lovely here, im still learning all the time and ive been encouraged by all the members who are doing their own dmp, im doing my own and yes its challenging, but im doing okay, ive increased my knowledge and my confidence and its thanks to everyone here so BIG THANK YOU TO ALL OUR MEMBERS HERE.

Dont be afraid to ask questions, and just shout your concerns we are all here to help.

Have a good fun day tomorrow and im off to do a bit more posting, ciao for now MAZ

Just_Me_4

OK another "topic for the day"! We sent the letters yesterday informing our creditors about the dmp which is due to start on 1st July. DH wants to phone them all to tell them what is happening but I think that will give them ammunition. Someone said it normally takes them a good few weeks to realise they haven't been paid. Surely if we ring them it will be informing them earlier and inviting trouble.

Answers on a postcard please lol:rotfl:

Toffee_Penny

Hello all!

I have been checking this site out for the past week and I want to thank everyone who has contributed with their debt stories and advice. It has made me realise I am not the only one to have a problem with money, that others in the same position are out there struggling just the same as me.

I am a single parent, I work part time and have just got stuck in a rut with my debt constantly thinking next month I'll have this if I do this or maybe if I get 5 numbers on the lotto, you know the usual rubbish, anything but face up to the fact I feel like I have failed and very ashamed that I am in a mess.

After looking at this site I noticed a link to CCCS, I filled their form out and they suggested to me a DMP. I currently owe £10,000; 2 catalogues, one credit card, one loan and an overdraft all unsecured, I don't own my house. I have been paying out over £600 a month but with a DMP I can look forward to paying £109!! A massive difference, not just to my bank balance but to me, I have had enough with worrying about money, it's so stressful. I know it is my fault and not looking to blame anyone else, I just feel so stupid and its embarrassing to be in debt isn't it?

Thing is I have always paid my bills on time, at least the minimum payment but I am living off my overdraft every month, I go into my overdraft, my wages and tax credits gets paid in, my balance is zero but then the same will start again. I am never in credit always minus every month.

After writing all my expenses out I looked at the figures and thought 'why?' why am I going to work and being unhappy every month at the thought I have no money? It's a struggle and I don't want to struggle anymore. I do feel scared, scared at the thought of court, letters, phone calls because I have always paid on time, ok so it was from an overdraft but you can understand the cycle.

So now what do I do? Do I contact the creditors and tell them about my plan? What kind of reaction do you get? Is it best to leave it until the DMP pack comes? I have no money at the moment to open a new account, shall I max out my overdraft and use this?

Sorry for the questions but it's just so scary to think about, it would be so easy if I could think 'sod it' but I am a worrier.

andytwonames

Toffee_Penny wrote: »

I know it is my fault and not looking to blame anyone else, I just feel so stupid and its embarrassing to be in debt isn't it?

Not ALL your fault, (same for the rest of us) these companies made the decision to loan you the money and had access to all the information they needed to judge whether you could afford it or not.

crysta1010

hi

we have appointment tomorrow morning at local CAB as 1st credit took on the loan we had from abbey for £11,000. They started with the phone calls immediately they bought this debt from abbey threatening my husband with a final charging order on our home and threatening to make him bankrupt !!!!
The CAB were great and told us as the loan was NOT PRIORITY DEBT AND UNSECURED the threats they were making were illegal and just scare tactics (which worked).
We are at the CAB tomorrow to work out an affordable reasonable offer for 3 creditors in all. I have written EVERYTHING down and at the end their is only about £35.00 left for the 3 creditors. This doesn't seem alot and am worried the CAB will think this as well.

Also, we go on holiday in just over a weeks time for 2 weeks (booked last year before money troubles) and am really worried that the nasty creditor will issue us with a CCJ while we are away.

Can anyone please help? Am starting to get myself worked up over this....

louietudor

crysta1010 wrote: »

hi

we have appointment tomorrow morning at local CAB as 1st credit took on the loan we had from abbey for £11,000. They started with the phone calls immediately they bought this debt from abbey threatening my husband with a final charging order on our home and threatening to make him bankrupt !!!!
The CAB were great and told us as the loan was NOT PRIORITY DEBT AND UNSECURED the threats they were making were illegal and just scare tactics (which worked).
We are at the CAB tomorrow to work out an affordable reasonable offer for 3 creditors in all. I have written EVERYTHING down and at the end their is only about £35.00 left for the 3 creditors. This doesn't seem alot and am worried the CAB will think this as well.

Also, we go on holiday in just over a weeks time for 2 weeks (booked last year before money troubles) and am really worried that the nasty creditor will issue us with a CCJ while we are away.

Can anyone please help? Am starting to get myself worked up over this....

1st thing to do is stop stressing - if £35 is all you can afford thats all you can afford - simple as,

CCJ's are often the last resort for companies and is more used for people who ignore letters and phone calls - you are not doing that you are acknowledging your debts and paying them off the best way you can - plus its takes months to get to the ponit where you can get a ccj so stop worrying and enjoy your holiday - it may be your last for a while

hope this helps

simbalou

Hi everyone!

I love this thread, when I'm feeling anxious I sit with a coffee and read a few pages to settle my nerves again. I've just sent all letters out to creditors with £2 token payments, paperwork been sent to CCCS today and now I feel I have nothing to do!

I've now realised that no matter how much my debts are and however much my creditors hassle me, if I haven't got the money then I can't pay them what they want! My kids and my house (hubby too of course!) come first and I can't wait until everything is sorted out, any phone calls and letters stop and we can get on with the rest of our lives.

The only regret I have is that I didn't do a dmp as soon as the warning signs were there, robbing peter to pay paul. I would of owed a lot less and be well on the way to my debt free life.

Anyone reading this who is thinking about a dmp my advice is to ring cccs or payplan NOW!!! I smile alot more now, people actually have conversations with me in the street and my kids think I'm a fun mummy again. I must have looked such a miserable so and so before i called CCCS!!!

Have a good day

rayday2

crysta1010 wrote: »

hi

we have appointment tomorrow morning at local CAB as 1st credit took on the loan we had from abbey for £11,000. They started with the phone calls immediately they bought this debt from abbey threatening my husband with a final charging order on our home and threatening to make him bankrupt !!!!
The CAB were great and told us as the loan was NOT PRIORITY DEBT AND UNSECURED the threats they were making were illegal and just scare tactics (which worked).
We are at the CAB tomorrow to work out an affordable reasonable offer for 3 creditors in all. I have written EVERYTHING down and at the end their is only about £35.00 left for the 3 creditors. This doesn't seem alot and am worried the CAB will think this as well.

Also, we go on holiday in just over a weeks time for 2 weeks (booked last year before money troubles) and am really worried that the nasty creditor will issue us with a CCJ while we are away.

Can anyone please help? Am starting to get myself worked up over this....

I am pretty sure without getting all my old paperwork out that I had about £30 ish for 8 creditors when we first started I was doing my own DMP and two years down the line we are suspended interest and only 6 creditors. Payments have gone up a little since as we managed to re-mortgage but we are in it for the long haul time wise. I don't care when I am debt free now because it is now manageable and just something I pay and forget about. I find I worry now more about other peoples debts and worries!

Also I believe a CCJ takes a bit of time and warning for that to happen.

I have a tip here if you have the money to do it my parents did this when they were expecting redundancy notices for my dad. When they went away they asked the post office to suspend delivery and have it delivered teh monday after so they came home to no bad news. You have to pay for it but psycologially it stopped them worrying on holiday and they never got the bad news they were expecting anyway!

rayday2

Toffee_Penny wrote: »

Hello all!

So now what do I do? Do I contact the creditors and tell them about my plan? What kind of reaction do you get? Is it best to leave it until the DMP pack comes? I have no money at the moment to open a new account, shall I max out my overdraft and use this?

Sorry for the questions but it's just so scary to think about, it would be so easy if I could think 'sod it' but I am a worrier.

I maxed my overdraft *coughs* your decision!

Cancel all your direct debits from the account you are abandoning and including in your DMP. Try and get some money in new account and set up again for important things like council tax etc

I would wait till your pack comes before you contact companies but in the mean time do not send any payments - when you get your pack send token payments which should buffer that new account up a bit for you.