DMP Mutual Support Thread (Part Three)

Tigert

Hi Pinksparkle

Token payments are usually just £1. But can be as much as you can afford. People usually send £1 though.

There are loads of us on here! Everyone is so helpful. 4 months ago I didn't even know that DMPs existed and now I'm 4 months in to mine everything is much better and I can afford to live again.

Don't know about the credit file. Apart from maybe a morgage in the future, I never want to touch credit again! Defaults will drop off after 6 years, but I'm not sure if the credit score will go up.

pinksparkle_2

xgingerx wrote: »

Ill be honest mbna has been one of my best creditors, in fact I owed them 5k and they added interest for quite a number of months but then finally accepted the dmp, about 6 months later they wrote to me to tell me that they had cleared the arears and my file would show my payments on time from now on prioviding they got the money from CCCS every month

Does this mean that they havent issued you with a default?

This is my main concern, I dont mind if my credit file shows late payments as that wont stop me remortgaging but a default will...!!!

Is there anyone out there who has been on a DMP and hasnt been defaulted???

HELP...

Pinksparkle

pinksparkle_2

Tigert wrote: »

Hi Pinksparkle

Token payments are usually just £1. But can be as much as you can afford. People usually send £1 though.

Blimey £1, is that no matter what the normal repayments are?

Pinksparkle

Tigert

pinksparkle wrote: »

Blimey £1, is that no matter what the normal repayments are?

Pinksparkle

Yes - Just until you get the DMP up and running. I did this for my first month. Some creditors rang up and asked for more - If it was just £5 or £10 and they were polite and took my Payplan details, I generally let them have it. If they were nasty they just got the £1!

tass

xgingerx wrote: »

""Can anyone tell me if it is worthwhile writing to debtors who have started whacking interest on again. This is our sixth year on DMP through CCCS and a coulpe of ours have started adding on considerable interest so much so that most of the payment is going to interest and not reducing the balances.""

Tass can u say who they are ??? im also on dmp for over 1 year now and just was curious ?
Thks

Marks & Spencer and Halifax. Lloyds have too but at a lower rate which is a bit better though not ideal.

xgingerx

pinksparkle wrote: »

Does this mean that they havent issued you with a default?

This is my main concern, I dont mind if my credit file shows late payments as that wont stop me remortgaging but a default will...!!!

Is there anyone out there who has been on a DMP and hasnt been defaulted???

HELP...

Pinksparkle

Hi, they said they were but then got the arrangement set up before they went through with it so , no dont have a default.

I have 11 creditors and out of the 11 only 4 have defaulted me, the rest are on plans.

tass

tass wrote: »

Marks & Spencer and Halifax. Lloyds have too but at a lower rate which is a bit better though not ideal.

OK - I just took the bull by the horns and phoned M&S - what a nice guy I spoke to - he said it was a mistake and all the interest would be refunded. They have been charging it for five months. and I had been ignoring it and hoping it would sort itself out. He says it has been a mistake when the arrangement was reset for this year.

A lesson learned for me - deal with things as they happen ...

Will check back my Halifax stuff now and phone them.

pinksparkle_2

xgingerx wrote: »

Hi, they said they were but then got the arrangement set up before they went through with it so , no dont have a default.

I have 11 creditors and out of the 11 only 4 have defaulted me, the rest are on plans.

Im Confused.com...!!!

Am i correct in saying that if the creditors accept the plan they wont default you???

Pinksparkle

Tigert

No - Unfortunately not.

It's almost random - Some will some won't. ALL of my creditors have defaulted me and all have accepted my DMP.

The one thing you'll find about creditors is how inconsistent they are!

Gemmzie

rayday - I wonder if it's time for a new thread? Some posters are reporting loading issues