DMP Mutual Support Thread (Part 4)

MurrayMint

rayday2 wrote: »

I have added you to the list number 207 and a long awaited official welcome :T

Hi RayDay

Sorry to bother you - I get the impression you're very busy! Could I please have a DMP Support Member Number please? I want to add it to my signature

Many Thanks,
MM

Parsley_2

I think the one thing that surprised me was what an emotional roller coaster this is.

I didn't realise until a couple of months ago that I was paying minimum payments and then living off what was left back up to the maximum on all my cards. It shouldn't be this easy to get into debt.

Thanks for the support I've already had since posting last night. I feel a lot better about the whole thing although I'm dreading moving all the direct debits. One good thing about today is that I got my new bank account with no problem at all so I can start thinking about moving everything. They asked if I wanted to switch accounts but I didn't want to say yes since I'm leaving the overdraft behind.

What do I do about my old bank account? Should I speak to them in person? We've had such a good relationship with them the last 6 years that I feel like I'm betraying them by moving accounts. Don't have this problem with the TSB as glad to leave them behind but BOS have been good to us. Also all the insurances and the mortgage are with them so I'll have to speak to them to move the DD.

I could just cancel all the DD's and then wait for letters asking for new bank details but I feel that may be foolish.

Anyway, wish I could answer some of the other people on the board but I'm too new at this.

MM - Are you not sending the letter because then it's all going to happen and is official? That's how I felt. Took a lot of persuading to make myself send it. The next bit doesn't sound fun anyway. Waiting to find out if the creditors will stop interest and agree the DMP. I'm not looking forward to the next few weeks but I know it can only get better.

NW-ANGEL

MurrayMint wrote: »

Hi RayDay

Sorry to bother you -Could I please have a DMP Support Member Number please? I want to add it to my signature

Many Thanks,
MM

me too? please?
thanks
kel
x

Bluediamond

I am looking for the Sort Code and Account Number to put on my online banking standing order. Yes, I did have it but when I deleted the standing order to change the amount and date, I forgot to write it down ! !

Any one that can give it to me please????

Thanks

Bluediamond x

hellodolly

Hello all,

Just an update on my account hunting.HSBC said no as I had an overdraft with my current bank.Citibank said no( no reason given).I was in a real panic,but got an account with the Yorkshire Bank.

The thing is in my panic I opened it in my name,instead of joint.Could I have my OH benifits and family allowance paid into it or does it have to be a joint account.

Could I ask for my incapacity benifit and family allowance paid via a giro until account sorted.

Going to print off all the letters in the morning and get them ready to send of to creditors with token payments.Then will get wages and priority d ,debits moved over as well.Then get the first payment out via Payplan hopefully 1st september.

I cut up all the credit cards yesterday,felt really good.Dont ever want to see one again.Learning lots from the website about saving money and about not going overboard with spending in general.

Thankyou all for the help,busy at work and with DMP, but will post very soon


Hellodolly XXXXX

Parsley_2

Hi Hellodolly,

Well done on cutting up the credit cards. (I have not managed that one yet).

Not sure about the benefits being paid in but I'm sure someone else will know the answer.

I do know that when we pay peoples pensions (not state pension) the bank doesn't check the name of the account so it's only if the person tells us the account is not theirs that we don't pay it. We have a policy that if the person whose name the payment is in gets a letter countersigned by the person whose name the account is in to agree to accept the payment then we can pay it into their account. We prefer the account to be in the pensioners name though.

Don't know if that helps at all as state benefits are very different.

Lodge

Hi Everyone.

This is my first post on the DMP support thread.

I'm about three months into my own DMP (going it alone, not with Payplan or CCCS).

So far all my creditors have accepted a period of reduced payments - but they all say it's a temporary measure for six months or so. So what are you guys doing after the agreed period of reduced payments? Do you wait for it to be passed onto a DCA then try to agree payment schedules with them? Won't the creditors just get fed up and try to take me to Court after a while.

As I'm new to the whole DMP thing I would appreciate a few pointers if you would be so kind!

Best Regards.

D.

WhoopieDoodle

Good morning Lodge and everyone

Regarding a temporary measure, most of the creditors will say this. After the 6 months, they will want to know if you can pay more money, if you can't then keep to what you are paying.

Regarding DCA, some will pass to these, some won't (or it will take a long time). We have 7 creditors and only one is with a DCA (at the moment). It all depends on each creditor really.

Court - usually unlikely but nothing is set in stone with DMPs and the various creditors.

I always say, take each day as it comes and deal with things as they crop up. Don't worry about things that may not happen!

Lodge

WhoopieDoodle wrote: »

Good morning Lodge and everyone

Regarding a temporary measure, most of the creditors will say this. After the 6 months, they will want to know if you can pay more money, if you can't then keep to what you are paying.

Regarding DCA, some will pass to these, some won't (or it will take a long time). We have 7 creditors and only one is with a DCA (at the moment). It all depends on each creditor really.

Court - usually unlikely but nothing is set in stone with DMPs and the various creditors.

I always say, take each day as it comes and deal with things as they crop up. Don't worry about things that may not happen!

Thanks for the info!!

Out of interest, what have other people experienced whilst on there DMP, have you all had debts passed to a DCA or even be threatened/taken to Court.

I think the fact we're all on a DMP, rather than going down the route of an IVA or even bankruptcy, show we intend to pay off our debts rather than run away from them?

The killer I found, before starting my DMP, was the interest they kept adding.

Are all of you guys creditors charging interest still? A couple of mine have frozen interest altogether but the rest are charging a reduced amount i.e: I'm paying 60 quid a month but the interest amounts to about 30 odd quid - is this normal?

Any other info or experiences would be very much appreciated guys.

Thanks.

D.

Parsley_2

Hi Lodge, I haven't started my DMP quite yet so I have no idea if they will freeze the interest or not. I do hope so though.

I have 3 CC's with Lloyds TSB. 2 with Halifax/BOS, 1 with Mint and 1 with Egg. Anyone have problems with any of these? Bet TSB will cause trouble although they are the ones that initially suggested the DMP so maybe not.