DMP Mutual Support Thread (Part Three)

newlywed

Mogminnie wrote: »

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.

You're dealing with your debt, rather than sticking your head in the sand. That will be a valuable lesson for your kids. Also, if you can teach them to budget, compare prices and save up and wait for the things they want, then that will be the best financial lesson in life you could ever give them.

I was taught that but unfortunately when I got a couple of plastic cards in my pocket, thought I new better :rolleyes: - I was stupid

Mogminnie

Thank you for that talking about it is a great help. My main concern is having a Northern Rock Mortgage which ends in August. As they are now trying to get rid of customers my mortgage will rise by 300 a month when my discount ends. Payplan have informed me that poeple on DMP can remortage but it's all just unknown and uncertain. Although my OH is supportive as we are doing this together he's not a great talker and does not want to talk to anyone on the phone. The next year sounds like a nightmare and can't bare the thought of letting the children down.

AmyV_2

Mogminnie

Don't be hard on yourself - a lot of us have kids on here - being in debt is no reflection on our parenting skills so don't ever put yourself down.

Going on a DMP is a really positive step forward and the best thing you could do!

Rayday is fab by the way and has loads of brilliant advice;-)

Nothing can happen to your house if you keep paying the mortgage. You may (or may not!) get Creditors threatening things - but a lot of what they say is absolute tosh - so if you are ever in doubt - come on here and the guys on this thread will set your mind at rest :-)

We are all in the same boat to different degrees - I think my husband's boat would be an ocean liner if we measure it by size of debt

rayday2

I am currently remortgaging with Chelsea Building Society and they have provisionally offered me 6.34% fixed for two years if I pay on time in that two years I can remortgage again with them and become a normal customer with even better rates.

I will let you know if it goes through!

More and more people are getting into trouble so I think once this mad year has calmed down then companies will have to offer more mortgage products they need us to pay to them!

rayday2

AmyV wrote: »

We are all in the same boat to different degrees - I think my husband's boat would be an ocean liner if we measure it by size of debt

Are you trying to say your husbands boat is bigger than my husbands :rotfl:

newlywed

Mog, I can't help with the mortgage issues, sorry. What I can say is that i was dreading the phone calls - I mean absolutely totally sick to the stomach at the thought of it

I can tell you how many people called me when I started the DMP:-

One to say they agreed it immediately and would reduct interest rate to 6% instead of over 18%.

One to say I'd missed payment but when I explained were really nice and said they would wait to hear from CCCS.

And just one annoying one who kept ringing to say you've missed payment. I kept telling them about the DMP and they confirmed they had the details I'd given them on their records, but they still kept ringing. So I got stroppy at them - apparently they previous people should have put a hold flag on the system so I didn't get called for some weeks to give CCCS a chance to get in touch. So eventually they added the flag and I never got another phone call from them.

For me, everyone was ok but sometimes I ignored the phone and waited till I was annoyed to speak to them - if you don't pick up, they just ring back - so speaking to them, telling them "I'm speaking to CCCS about starting a Debt Management Plan and will be in touch when I have a reference number" was easier than keep ignoring a ringing phone

Mogminnie

Everyone sounds so positive I have spent the last week looking up DMP and reading the threads. I am usually at work and am only off with the kids on half term so have a lot of time to think about it and finding it hard to enjoy anyones company.
Thanks for the boost!

newlywed

Mogminnie wrote: »

Everyone sounds so positive I have spent the last week looking up DMP and reading the threads. I am usually at work and am only off with the kids on half term so have a lot of time to think about it and finding it hard to enjoy anyones company.
Thanks for the boost!

Just wanted to let you know, the feeling I got when I made my first DMP payment, the relief that someone else was helping me sort things out, the weight lifted from my shoulders and I can't quite describe the huge, immense feeling of relief that comes over you.

It isn't always easy as you do have to budget for everything and there is now no plastic at all to fall back on at the end of the month - but I have no regrets - except for the fact that I should have done the DMP months/years ago

AmyV_2

Mogminnie

As for your mortgage - don't worry too much about it now - August is a long way off and anything could happen with mortgages before then.

We asked CCCS about the same thing because ours is due for renewal in Dec I think, and we are on a fixed rate at the mo.

They said we should still be able to get a decent deal at that point because although my husband is on a DMP, we have not got behind on our mortgage - so the lenders shouldn't be too worried about it.

Of course, we won't know for sure until we reach that point. However, Payplan will treat your mortgage as priority so if it does come to it, they will review the DMP to take into account any increase in mortgage payments.

There is always an answer - and it WON'T mean you lose your house.

AmyV_2

rayday2 wrote: »

Are you trying to say your husbands boat is bigger than my husbands :rotfl:

Rayday my husband's boat is quite possibly the QE2!!