DMP Mutual Support Thread (Part 4)

Jvic28

bauctu wrote: »

I've just taken the plunge and signed up for a DMP with CCCS and it feels like such a weight has been lifted, I just wish I hadn't buried my head in the sand for so long. In 4 years and 1 month I should (dependant on my lovely creditors co-operation) be debt free.

Thanks to everyone on this forums advice and good tips, made the decision so much easier. :T

Well Done for taking the plunge. I completely get what your saying. When I got my paperwork through, I actually cried with relief. I couldn't believe they were telling me to cancel my direct debits and pay them £103/month when I was previously paying £647. What a God send!

x

rayday2

tinkerbell12 wrote: »

Hi all,

As some of you may remember a few days ago I was after some advice about moving house whilst on a DMP to help alleviate some of our debt worries.

WELL - we have found a wonderful house (!!!!!!) which is a good £40,000 cheaper than where we live now and would mean a great saving on our mortgage to help speed up our repayments. Had the house valued as well and was pleasantly surprised at the price they think it is worth (all 3 agents thought the same so I feel it must be realistic.)

SO - rang back our current mortgage advisor having passed the affordability checks and they asked if we wanted to apply (ie go through credit check) and I said YES, kept my fingers crossed and ..... NO. Shouldn't really be shocked but they said we were flatly declined and they could not help us. I then got a but shirty and said well they were currently lending us a good £40,000 more and we have NEVER missed a payment but it doesn't seem to make an ounce of difference. I explained the reason for wanting to downsize and she basically said tough. I was very upset and angry with her attitude - she even made a comment about having so much debt etc etc which I chose to ignore as I was so upset.

I do feel really let down by them and quite angry now. I have since rang CCCS and they have recommended going to Charcoal and get a quote which I intend to do tomorrow. Has anyone had a mortgage arranged through them and were they good? Only downside if we do this is the hefty early repayment charges and higher % rate we are likely to incur so may be swings and roundabouts.

Sorry for the waffle - desperate to vent and can't talk to anyone else but Hubby!!

Any advice/ideas/sympathy(!) appreciated!!!

Yours thoroughly peeeeeddd off!!

Give Chelsea building society a ring, they were brilliant when we remortgaged I know its not the same but they did take into consideration the fact we had never been late paying our mortgage - so you never know!

rayday2

Ex-Spendaholic wrote: »

Evening
Sounds good Ghosthunter. :beer:

I haven't heard anything from Hellifax Visa in months. It has been passed to Blair Oliver Scott who as far as I'm aware are their inhouse DCA. Anyway I was looking through my document store online and found statements from Jan-March this year. The f*****s have been adding on a cool £125.00 per month interest. :eek: :mad: :eek: :mad: Considering they are getting £9.19 a month (or something paltry like that) there is no way this will ever been settled. I know they had suspended interest at one stage but they must have started it again. I don't know when it actually did start again so the could be effectively £1500 in interest added on to the original debt. :mad: :mad: Also as I've had no statements or anything since March I don't know if the DCA are still merrily adding on this charge.

Can anyone advise on the best way forward with this. I am already waiting on £650 refund of charges to be credited to the account but I want this interest back now too. Cheeky barstewards. :mad: :mad:

We are off out to a BBQ now in the persisting rain. :rotfl:

Blair Oliver and Scott are the connected DCA and actually are pretty good to deal with.

I am not sure which is the best way to go about it, I am tempted to say that considering you are getting charges back I would write and complain about the interest being put on and exploting your position to make a profit. If you can find anything else they have done wrong from the OFT guidelines throw that at them too.

If all else fails I know Blair Oliver and Scott are always offering settlements at a pretty good rate so in the long term you probably won't have to pay it but I appreciate that does not make you feel better now. BTW if it helps they don't charge interest on my accounts its probably just what Hellifax were throwing on it.

pinksparkle_2

Morning Guys,

I have just checked my bank account and have seen my first payment of £500 has gone to payplan today, I am well chuffed...!!!...I have read that with ccs they take the money on 1st of the month but it doesnt actually go to the creditors till 25th, does anyone know if this is the same for pp, I have a few questions...

1. When will i be able to see that my creditors have had their 1st payment?
2. Also does anyone know how long it will be before i know if my creditors are willing to accept my DMP Offer?
3. How quickly will i get defaulted???

Im on the itch now as im all excited about finally paying my first payment...!!!

Pinksparkle
xxx

WhoopieDoodle

Hello pinksparkle. Payplan take money on 1st and it should be with creditors approximately a week later (not sure on the exact timescale but it's not too long a transfer).

As far as creditors accepting DMP, basically how long is a piece of string? Some may do so quickly (Cap One were very good and accepted immediately) and others can drag it out.

Defaults - again it depends on the creditors. We have had 2 but nothing from the remainder so far.

I would just take each day as it comes and deal with things as they happen

xgingerx

1. When will i be able to see that my creditors have had their 1st payment?

I still get most my statements from my creditors so should be on your next statement.

2. Also does anyone know how long it will be before i know if my creditors are willing to accept my DMP Offer? Some of mine just accepted and some didnt even bother to let me know but ive been on for a year now and had no complaints so dont worry if some dont contact you, as long as they are getting their money.

3. How quickly will i get defaulted??? Out of 11 accounts , I only got defaulted on 4 and the rest are all showing as payments upto date although it does have a special indicator saying that im on a payment plan on my credit file, but the 4 defaults happened within a few months for me anyway.

loopylu36

Hello everyone - so many newbies! :hello:

I've had a bit of a rough couple of weeks and have actually been over on the bankuptcy board as it was beginning to look like our only option.

Had a review with Cccs on Tuesday and our new monthly payment iss £335 - over 20 creditors - it will take 33 years to repay - that's if they stop interest which most haven't actually. :mad: Can't imagine that any creditors are going to be happy with that but what can they do? I am kind of resigned to bankrupty almost, so if they threaten it, I will just say go ahead. They will get b*gger all if they went down that road anyway (but I would keep my house cos there's v little equity and you can buy it back from the OR) so they would be the biggest losers not me. That thought is kind of keeping me going, but as I am still out of work, I have far too much time to sit and think and guess what I spend all my time thinking about? I am so sick of it and really need something to occupy my time. Worry about DH too as I think he feels under a lot of pressure as the only wage earner.

Still, I'm feeling better this week than last so that's something, tho was planning bbq for tonight but it's all grey and windy - as per! :mad:

xgingerx

Hi Loopylu, that sounds bad 33 years, their must be other options available other than BR, what about an IVA , at least then in 5 years u get your life back, I ve got a dmp owe 33k and will pay it in arounf 8 years so i just thought 8 years was managable but 33 you really cant and must not put yourself through this pain.

Im sure you are getting good advise and wish you all the best

loopylu36

Thanks ginger. I'm being overly pessimistic really as that reduced payment should hopefully only be a short term measure until I'm earning again. Before I lost my job, our DMP payment was £1,497 and it would have run for 7 years which I was quite happy with. All creditors had acccepted as well, (apart from N Rock but that's a whole other story! :rolleyes: ) so it's a real pain that we have had to reduce pyments but CCCs will explain our current situation so hopefully they will bear with us for a few months. As you can calculate, we have a mamouth debt:o , but I did ask the lady at CCCS if it was the worst she had seen and she said "Oh no, I've seen much worse!". I suppose it always makes you feel better to know that you are not in the worst possible place, even tho you might feel like it most of the time.

dumb_luck

I'm well chuffed this evening- in fact feeling the way I did after making the first call to NDL. My Statement of affairs is completed with all balances confirmed by my creditors and is about to be sent out. As long as my DMP payment leaves my account on the 23rd as planned I will have done everything I can.

My phone is after ringing less today (only 4 times so far I don't know myself)

A huge thank you (so far) for all the help and encouragement I've received. I'm so lucky to have fund this site- I don't feel as swamped or as alone as I did a week ago. Thanks xxx:beer: