DMP Mutual Support Thread (Part 4)

Evans1882

Hi all

I have been on a DMP for over a year now and so far things have been going well, creditors have been ok with me apart from HSBC and Natwest who still charged me interest for six months into my DMP.

Monument, Capital one have been realy good Capital one sold the debt off to Robison way last week but even a quick call to them was pleasent they accepted the payment i was giving and i had a few letters at first, but all is quiet now, monument just send me the statement everymonth with the ammount im paying and outstanding balance.

My curcumstances changed recently and i have not been able to pay as much into my DMP, cccs said it would take 12 1/2 years to pay off debt at my current rate:eek: so would i consider bankruptcy, its a tempting prospect but i dont realy want to go bankrupt as i fear i would not have a place to live as i rent and bankruptcy would be frowned apon with new landlords.

I have looked at my expenditure and the only saving is if i got rid of my car that would free up £170 a month doubling the funds i could pay into my DMP, getting to work is not a problem as i can bike (winter might be a test).

I think part of the DMP experiance is knowing your paying off your debts and there is a end in sight one day.

Ex-Spendaholic

Hi Evans. I would stick with the DMP. Mine will last a lot longer than yours.

Update from me. I had a letter yesterday regarding Halifax account 3. I had claimed £2600 on that account. They have written offering £1292. I'm not sure what to do now. They paid in full on the other 2 accounts and the credit card. Part of me thinks I should accept and be grateful (I am grateful) for getting so much back from them.

The other part of me thinks I should ring them and chance my arm for the ohter half. Decisions, decisions.

at_my_wittsend

Hi guys,

I have had my monthly statements roll in this month and to my shock after reading most of the posts on here, Barclaycard have accepted my DMP!!!!!! Am really pleased, these are the first. Had a couple of calls that were from Mercers beginning of last month and decided to not accept any incoming calls and unplug home phone, seems to have worked. All I did for them was send a token payment rec del in July, CCCS wrote to them and all other creditors the same time, not done minimum payment August as have had lots of major expenses - unforseen! Statement that came, had my £2 token payment on there, no interest or charges and just on the front sheet said please continue to pay by payment plan, figure agreed was what CCCS had said and no mention of for how long, no interest and no charges applied!!!!!!!!!!! Phew. I am very grateful to them. I do have to call them though as payment date is 8 days out from what CCCS say, so don't want them to get shirty and stop before its started. First payment with CCCS goes September! Weird how companies all treat people differently. I have had my card years and always paid in full or on time up until the last month or two, whether that helped I have no idea. Sadly no magical winfall is due my way this time to clear it. Next heard nothing from since they said it was in dispute and others, charging interest and demanding arrears and minimum payments. So clearly ignoring CCCS letter sent. Think sometime this week will send them all a letter stating that the financial services authority and banking code of practice leaflet available in banks and sent by some of my creditors says seek help from CCCS so why they playing silly !!!!!!s as the charges they keep applying will be claimed back. Know it's not going to be plain sailing but after what I thought was going to be hassle with one of my big creditors turned out to be ok, feel quite positive.

magenta4711

Hi everyone,

I'm not sure whether I should be posting here or not but I'm in a mess. My partner left me six months ago and left me with a lot of debt all in my name. Please don't tell me I was stupid for doing it I know I was and I need to get sorted. At the same time I got made redundant and because I'd not been with the company long I didn't get any pay. I've got a new job but I get paid less and have to travel further. I've managed since then to pay everything but I can't any longer and I don't know what to do - I owe out more each month than I earn and I need to get myself sorted. I've gone through all my bills and everything today and over the next week I hope to reduce some of my costs.

I was hoping so much I could go on a debt management plan but I don't think they'll let me because I pay out more than I earn. I can't sell my house because I'll be in negative equity and I've no-one who I can talk to or can help me. I'm terrified they'll make me go bankrupt and I don't know what to do. I'm not sleeping an I;m worried sick. Can anyone help me?

Ex-Spendaholic

Good news about Barclays Wittsend. :beer:

Magenta, hello and welcome. I'm really sorry to hear you are having a bad time of it. You have come to the right place though and we will all support you the best we can. Have you did the CCCS online debt remedy? For it you put in your income and list your expenditure - such as rent, heating, groceries etc. If you have a surplus then this can be split between your creditors. Some may only get £1 a month but at least you will get your life back on track. Another thing to do is a Statement of Affairs. Its worth posting a separate thread on here with this information as people can advise where you could make savings.

Also do you have charges on bank accounts, credit cards, loans etc. You can look at claiming those back.

I read a quote on here last night "debt is not illegal, its not a crime - its just a problem, and problems can be solved"

sunshine38_2

magenta4711 wrote: »

Hi everyone,

I'm not sure whether I should be posting here or not but I'm in a mess. My partner left me six months ago and left me with a lot of debt all in my name. Please don't tell me I was stupid for doing it I know I was and I need to get sorted. At the same time I got made redundant and because I'd not been with the company long I didn't get any pay. I've got a new job but I get paid less and have to travel further. I've managed since then to pay everything but I can't any longer and I don't know what to do - I owe out more each month than I earn and I need to get myself sorted. I've gone through all my bills and everything today and over the next week I hope to reduce some of my costs.

I was hoping so much I could go on a debt management plan but I don't think they'll let me because I pay out more than I earn. I can't sell my house because I'll be in negative equity and I've no-one who I can talk to or can help me. I'm terrified they'll make me go bankrupt and I don't know what to do. I'm not sleeping an I;m worried sick. Can anyone help me?

Hi Magenta4711, and WELCOME

Well done on posting here and let me reassure you that no-one will think you were stupid at all. You would be surprised at the number of people who have found themselves in the same predicament. The important part is that you are now taking steps to deal with those debts and that's one of the hardest things to do when a relationship has ended.

You've had a really hard time of things lately and I can relate to the shock of finding yourself redundant too. Some folk may remember that the last time they heard from me on here was just after I lost my own job and your post has pulled me out of "hiding" because I just wanted to let you know that you are in the right place and I want to try and help you, as others have helped me on this thread.

Being practical about trying to deal with the debts - have you tried the online CCCS debt remedy. Its something that you can look at online, put in your figures and see what suggestions it comes up with. We started with a DMP via CCCS and they have been brilliant. I have spoken to them on the phone but initially I put all our information into the online budget breakdown sheet and that gave me some ideas to think about. You are not committed to anything by trying it and see what it comes up with for a possible way forward for you?

Some people use Payplan, some people arrange their own DMP (Rayday is a leading star with hers and is certainly a ray of light on this thread:D ).

When you say you pay out more than you earn, is that when you calculate everything at its normal monthly payment to all of your creditors? When you do the CCCS budget sheet, you put in your essentials i.e mortgage/rent, council tax, utilities, food (yes you are allowed a budget for food!) and other emergency money and THEN it works out how much is available to be distributed to your creditors.

I dont want to ramble on and confuse you but just wanted to say "hi" really as there is nothing more disheartening than finally plucking the courage up to post on these boards only to find that, unusually, it takes a while to get a response from anyone - and then you are still left feeling worried.

I know it's much easier said than done but you have done nothing wrong and you should try not to worry too much, there is always a way and the lovely people on here will help you find the best way forward that suits you.

Sunshine x

sunshine38_2

Would you look at that, Ex beat me to it :rotfl: and it was all put much clearer than I made it :rotfl:

Ex-Spendaholic

You put it very well Sunshine. :beer:

Its very quiet on here of late.

sunshine38_2

Thank you

I have still been lurking, just not posting

I have also taken great interest in your posts of late, I'm going to be brave and try to do some reclaiming myself. I guess you just have to get yourself into the right frame of mind to be able to tackle reclaiming charges. I figured that if nothing else, it might get our DFD that little bit closer if I was successful, and that's not a bad idea now, is it?!

Well done on your success :T you must feel quite proud.

magenta4711

Thank you for the nice things you've said - I;m now sat here crying which I figure is a good thing - I've not cried over money at all I've just kept going and I figure it's better out than in. I'e done the cccs thing and it says they need to talk to me and to ring them so I'll have to do that tomorrow after work. I'm just scared of everything at the minute and I'm so frightened of losing my house - it's all I've got and I've worked really hard for it. I just feel like running away but then I'll lose neverything anyway