DMP Mutual Support Thread (Part 4)

symesd

Hi everyone, my CCCS DMP Paperwork arrived today, so relieved, we are on the way to FREEDOM.

I feel like a weight has been lifted, I am not as stressed, I am actually feeling positive, which is something I have not felt for quite a while.

I also had phone call from RBS chasing missing payments, but when I said I have been speaking with CCCS and would be writing to them soon with DMP proposal they where fine.

I am so glad I have started reading this forum, I had just been "bullied" into accepting to pay £113 a month to CHOICE CATALOGUE, I have been struggling to pay £35 month for the last 2 years. Thanks to this site I have come to my senses and will now be paying them a pro-rata payment of £8.57, that will teach them to "Bully" people.

I have finally realised that I have been "paying off" debts by borrowing from other Creditors, meaning the debts have been snowballing out of control.

My DMP is for £34,800, I know through checking back over statements that I have only actually bought goods to the value of about £9,000 & £3,400 on repairs to our home, so the rest is INTEREST on INTEREST. It is Legal Robbery.

I was watching the News today & actually got quite angry - the Government is reducing stamp duty to help first time buyers get onto the property ladder - this seems to be a bit backwards to me this reads to me as they are helping more people get into debt, high debts. Would the government be better helping people who are currently in debt struggling to pay their mortgages and other priority debts by introducing more assistance to stop or prevent Repossessions, Educating people on budgeting etc. I understand that people want to buy a home but in the current climate would it not be better to wait until things get better and concentrate on getting people advice and resolutions for their debt.

Sorry I'll get off my soap box now.

Maybe not - BANKS need to be held accountable, I would not be in this situation if they had been professional and refused to lend me more money when it was extremely obvious I was struggling, they just kept consolidating and increasing the debt - LINING THEIR POCKETS......

Anyway now I have got this off my chest I have had a really positive day, I feel empowered now that I am finally taking action and sorting my life out.

All thanks to this forum and CCCS.

SO A BIG THANK YOU TO YOU ALL

maz1964

hiya all, just thought id pop in before off to bed

hey many congratulations to you Symesd

it is wonderful when you finally get to the point that enough is enough and you actually get going in the right direction

your last post rang a few bells for me, you are right, it was like that for me paying one debt by increasing another ie credit card to pay another

However, im not sure if ive said this before, but my problems and debts are increased also due to me helping a friend out by paying her mortgage and unfortunately, left paying those 3 credit cards off and since in my name, my debt, even though she says will pay me back but when? her marriage is on rocky ground, her hubby not interested in getting a job and now im in a position that ive had to include these credit cards as part of my dmp whilst in theory i was managing my own debts quite well.

So while others have spent, others who have gambling problems or drink problems or have used credit just to live from day to day. Me i tried to help a friend not lose her house and now this past year, i nearly lost mine.

Its not all gloom though, im really glad ive found this forum, its really helped me address a lot of issues about money. I guess without the so 12,000 im owed plus all the payments ive been making on these cards im guessing about nearly 15,000 should cover it. its half my own debt, without this hanging over me, i guess i would have just plodded on paying the minimum payments and not really thinking about what it was actually costing me to just service the debts.

So the positives that i would say, im learning all new and wonderful legal stuff, im budgeting much better, im using cash for all my shopping, being aware of every penny, and checking out lots of different stores for my shopping. Cooking in batch and also being aware of different recipes, made some fab friends online here, getting the support from this thread, being able to pass on my little gems to help others, feeling part of a community, and having my hubby and daughter in good health and me finally getting better so i hope to start back to work this month.

So from some kind of gloomy place at the beginning of the year, i feel at peace with myself now , as im really thinking about money and the impact that it has had in the past, but im more positive now that it will be a different kind of impact from now on, hope that makes sense.

Our health and family are the most precious things that we should worry about, and im so thankful, my family have in their own way forgiven me for my moment of madness in one way, but are proud of me for my moment of genuine compassion towards the friend who was on the last day of losing her home.

Im sure it will sort itself out in the end, but yes im learning all the time new stuff and for that im thankful.

My only advice to others is that - dont lend the money or pay their debts unless you have concrete legal documents signed up- get your friends true help in other ways, hindsight is a beautiful thing, for me too late, but for others - there are other ways to be truely helpful to friends who are in trouble.

My heart still convinces me that ive done a good deed, but my head is now telling me i should have really thought it through. I was not at my best mentally with my health at the time, and maybe if it was now, i would not have paid the mortgage but helped in a more legal way in addressing the financial issues she faced.

I have to continue believing that some good deed will soon come my way - hope is always great to have on your side.

Sorry to have rambled, and i do hope it helps others in some small way to really think about the implications if you find yourself being asked to help someone in a financial mess.

Good night to all, have a fun day tomorrow

who knows postman might just deliver me a competition win, or that i might just win on that euro lotto.

LOL

keep happy and think lucky Ciao MAZ

rayday2

I used to do competitions, I won a David Hasselhoff book, Bananarama CD and a phone charm - at that point I decided maybe I wasn't cut out for big wins lol

I have two lines on Euromillions I only do it when it goes over 50 million, anything under that is just not worth winning

mouncey

Hello Rayday -I've been on a self managed DMP the past 2 years and 1 of my creditors have sent me 1 of their I & E sheets to complete. On it it asks about the balance of my mortgage payments and the current market value of the property. As I have a 50% share of this property should I:-
(a) Just ignore it and continue to send them my own SOA based on a CAB template.
(b) Give them detail but only show the market value as 50% of the actual price as this is my share of the equity.

PS can I have a member number as well please?

Cheers

andytwonames

rayday2 wrote: »

I have two lines on Euromillions I only do it when it goes over 50 million, anything under that is just not worth winning

That's a terrible waste of your money - only because I'm going to win it this week.

rayday2

milliejon - just seen your post about upping offers.

I did that with mine a few months ago and wished I hadn't! I was doubling my payments basically to most companies.

Lloyds who had agreed to old payments refused to agree to new ones, and yet continue to freeze interest but the statements only ask for the old payment.

Lloyds overdraft said yes that would be nice and yet now weekly send out offers to pay it off partial settlement for 50%

I have a debt with Capquest (which reading this forum we are supposed to hate!) when they took over the account they agreed to £2.08 and would review it in 2046 - this I liked! So I thought I won't wake the sleeping beast so I just upped the standing order and thought I would make out the letter got lost in the post, not heard a peep out of them!

I am so tempted next time to take that option again with them all! And play the card didn't you get my letter I sent out card like they do!

rayday2

mouncey wrote: »

Hello Rayday -I've been on a self managed DMP the past 2 years and 1 of my creditors have sent me 1 of their I & E sheets to complete. On it it asks about the balance of my mortgage payments and the current market value of the property. As I have a 50% share of this property should I:-
(a) Just ignore it and continue to send them my own SOA based on a CAB template.
(b) Give them detail but only show the market value as 50% of the actual price as this is my share of the equity.

PS can I have a member number as well please?

Cheers

Do you use a formal budget sheet like on the national debtline site detailing income and expenditure? If you do write back saying you enclose a I&E which has all the information on it for them to make the decision. You have contacted National Debtline (find out if this company support them from their website - they probably do) and say you are following the guidelines from National Debtline which their company support and look forward to hearing from them soon.

You do not have to provide information like that at all if you don't want too.

Just re-read your post replace national debtline with CAB if you like but most companies do support national debtline its up to you if you are happy supplying the information or not. I personally and have in the past ignored the requests and sent back what I detailed above.

rayday2

andytwonames wrote: »

That's a terrible waste of your money - only because I'm going to win it this week.

Dreamer its in the bag - my bag :T :j :T

mouncey

Thanks Rayday -should I show the full market value or just show 50% which is my share of the equity?

rayday2

mouncey wrote: »

Thanks Rayday -should I show the full market value or just show 50% which is my share of the equity?

If you want to answer their questions just show the 50% but don't feel like you have to if you don't want to, they don't need that information to make decisions.