DMP Mutual Support Thread (Part Three)

Mogminnie

I feel alot better after listening to everyone and will try not to worry until it happens. When I am back at work that will make it easier. Everyone sounds really strong and dealing with debt in a postive way. My husband's mother is at the house alot looking after the kids when we are at work and worry she will answer the phone. As a hard up pensioner herself I don't want to worry her if I can avoid it. I dread the possibility of people knocking at the door in the future and want to be prepared if possible for any situation. My own mother who went bankrupt when I was young later in life re-married and a few years ago went through an IVA. Think she would have learned the first time round! Luckily or not for her a family member left her a large sum of money to get out of it. I know she had one creditor in particular who hounded her even turning up at the door offering her £5 to come in and 'talk'. I decided on the DMP route as IVA sounds more risky especially as a teacher going bankrupt would not be an option. I know now many more people are in the same situation where as before I thought we were in the select minority.

nomoneynomoney

well I am about to take over my own DMP.
Do you think I should contact all the creditors and put them in the picture or just continue with the monthly payments until they contact me.
The payments will stay exactly the same and my income and expenditure was last updated about 2 months ago

CBI

newlywed/CS: Cheers :beer:

rayday2

I would just send them the payments and wait to hear from them.

I keep a spreadsheet of the balance of each of my creditors and put cheque numbers (also the date they cleared my account) or standing order dates on. I am very anal, each company has its own folder on my computer and I also print out all the letters and keep a copy in my file it is really important to keep on your feet when you run your own, but also once up and running very easy!

I use the national debt helpline downloadable budget sheet for offers of payments to the companies, not sure if you have checked that out also they have very good template letters to use as a basis.

nomoneynomoney

thanks rayday2
I think using cccs helped because I'm not very good at keeping records of everything so I know that I need to keep on top of everything now.
I have my folders for any letters they send or I send out.
I will try and pay everything via my online banking so that will help if I need to prove payments.
Maybe I'll have a look at excel and see if I can do some spreadsheets -but office work is not my strong point.

AmyV_2

Mogminnie wrote: »

.... I dread the possibility of people knocking at the door in the future and want to be prepared if possible for any situation. ....

Oh Mog - things have moved on so much since your parent's day. I remember when we were kids my mum and dad were in debt (his accountant ran off with his savings!!) the gas men actually turned up and cut off our gas - 4 kids in the house and no other heating - I bet they can't do that now! We also had people turning up - but rules are a lot stricter these days - so forget what your parents went through - and if you are ever in doubt have another read through the threads on here to see its never that bad once you're on a DMP.

Have you read the Office of Fair Trading Guidelines on Debt Collection? Creditors and parties working on their behalf have to follow those if they want to keep their licences. It is a very strict code of conduct including NOT harrassing the debtor!!

You will find loads of useful links on the National Debtline website - but if you want anything in partic and can't find it just give us a shout.

franny

nomoneynomoney

Are you already on a DMP? I ask because I am with the CCCS and wonder that if I left to set up my own DMP my creditors might just put interest back up again.

Rayday2 - Would the Creditors need to see copies of SOA and wage slip as proof of earnings?

Gemmzie

rayday2 wrote: »

YOu don't send bank statements to creditors or wage slips ever, I believe Payplan may want some initially but that is for their eyes and they don't pas them on.

Capital One requested them and we had no choice but to send them.

AmyV_2

Gemmzie wrote: »

Capital One requested them and we had no choice but to send them.

Hi Gemmzie - why did you think you had no choice? What did they say to you?

nomoneynomoney

Hi Franny
I have been on a DMP for 5 years with cccs.My main worry about doing my own was interest being added again but I haven't really got the choice any more. Other people who do their own DMP's say that they are successful and the creditors freeze interest so I am very hopeful that things will remain the same.