DMP Mutual Support Thread (Part 4)

jimpanzee

does anyone have a clue where to send the letter to cahoot as they are one of my creditors.

rayday2

jimpanzee wrote: »

sorry mate im so clueless

so u can have more than one bank account ?? (thick as )

i have cancelled all my direct debits to the creditors

the only money i have is on a credit card im living off

and im trying my hardest not to tell my family my bro or my dad they would feel let down

You can have as many bank accounts as you like at my last count I think I was at about 9 but only 4 with cash or debit cards. I have one account that my wages go into and all direct debits come out of and I send the spare money over to another account that I live and shop off to avoid me being overdrawn. But we all develop our own ideas or methods lol

Try not to worry about how others feel, you haven't let any down you have just got out your depth it happens to everyone in some way or another be it money or something else.

jimpanzee

cheers mate

Zoeysmum06

Hi jimpanzee im in exactly the same position as urself i also get paid the 26th and am over my overdraft. ive applied for a coop account but i need to send them a proof of address as i havent lived in my current account very long. I also heard the natwest step account is a basic account. Its all confusing but just take it day by day. And dont feel ashamed the main thing is you know you need help rather than hiding away. And its better to tell them rather than bottle it up. And everyone on this website is so helpful i dont know what id do without them as im totally clueless!! But there helping me make sense of it all, slowly im not the brightest spark lol!!

sarriep

Hi jimpanzee
We haven't even had our telephone apointment with CCCS yet but I've stopped ALL of my credit card and loan DDs going out. I have left all other essentials - mortgage, council tax, ele/gas, phone, tv lic etc and opened a co-op cashminder account. We've already had the cards and I've registered online. They can arrange for all of our direct debits to change automatically. It's a but scary, our bank are one of our creditors and we 'live' off an overdraft ever month. I can't WAIT to see a +ve balance!!! Today I bought 10 £1 postal orders to send as token payments along with a letter I adapted from this site. Having just got my VIRGIN cc bill where paying only the minimum payment is making my debt RISE. I had a strange sense of satisfaction knowing they were not getting their £169 this month. Robbing *&^!!!! (Sorry - am very bitter about this - transferred onto a 0% deal and am now paying 27% !!! )
I feel very much as if I'm taking control and even though our debt is over £48000 (OMG I'm having a panic again......) there is an end wheras before there just wasn't.
It will get easier! I'm now looking excitedly forward to the challenge of moneysaving!
x

ianmak

The Co-Op Basic account seems pretty good so far, the online banking is handy as well to keep track.

As suggested on here it's worth cancelling all DDs manually and set them up with another account, at the same time if poss, all the people on the phone seem happy to do that for you (But remember to check your old acct to make sure the DDs have gone.

I had a letter from the council today saying I owe them money (I cancelled the DD the day the payment was due to go out to avoid more overdraft charges). They seem quite happy to take the money owed at the end of this month instead.

From my experience so far it hasn't been to bad, apart from RMA ringing every day regardless of if I've spoken to them or not. Must get PP to make sure they've sent my I&E to my creditors, or should they just send it to those who've asked for it.

I'm rambling now, v.tired and not sure what I'm trying to say here, so good night and god bless...

Zoeysmum06

I have two loans with HSBC do you think i should cancel the DD with them?

Janey51

Zoeysmum06 wrote: »

I have two loans with HSBC do you think i should cancel the DD with them?

Cancel everything that you are going to put onto your DMP except if you are in arrears with your essential bills like Council Tax and utilities.
The money you save will give you a little buffer and can be saved.

Janey51

Just wondered if anyone had any views on Full and Final offers at the present time with all the news about banks struggling :rolleyes:

I thought about sending SAR requests to all my creditors so I can see exactly how much they have added in charges that I can reclaim.My remaining debts are all Credit Cards and Store Cards so I can still claim on them. Then I could make an offer based on this reduced figure.

I am probably going to be off work for a long time and am on sick pay. My debt free date as worked out by CCCS at my review has changed from 11yrs ish to over 40 :eek:

I would welcome any comments.

newlywed

Hi all,
Just wanted to echo... I applied for a normal co-op cheque account. The letter saying no way - go check your credit file - also enclosed a form to send a postal application for a basic bank account - It's just gone through, I have my card and welcome letter, and I now am just waiting for my pin


As for me, reduced DMP payment notices must have gone out coz FirstDirect sent me a lovely loan agreement for me to sign and return. It says I only have to pay just over £100 a month (my DMP amount) for a year..... and then find £5k for the final payment :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: If only I could find £5k just like that :rotfl:

How stupid do they think I am???? - no don't answer that thanks

Anyway, they can have a complete ignore. Not even worth the stamp to send a reply. They are the only one of my creditors to still be charging me interst - 6.2% so it is a hugely reduced interest but still :mad:

Hoping they send me a default notice shortly and transfer to a debt collector to stop interest - that will save me over £1k interest for the full DMP period.

I already wrote to ask them to default me and stop interest and they just said oooh you're on a preferential rate so we can't, and we're going to review your payments shortly. (I got there first and reduced my DMP due to increased prices )