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DMP Mutual Support Thread (Part 4)

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  • louloujs
    louloujs Posts: 285 Forumite
    I've had to be self-admin as I didn't have any surplus, but judging by this thread it seems that there are quite a few cards that will play ball. Even if they are happy to accept for six months it would help, a lot can happen in that time. If we can rent out house out and downsize (or sell, but methinks no chance at the moment and actually worry that we won't get another mortgage now so might be as well to rent out and come back later) we can save a fortune and make bigger repayments.

    All I need is a lottery win, I don't even need the big prize, the third prize would be brilliant.

    i don't know about the letter for creditors, but I'm sure it won't be long before someone who does pops up with the reply you're looking for.
    Lou
  • I have another question - don't know why I didn't think of it before:confused:

    When I called CCCS I included all debts, some in my name, some in husband's name as we see it as joint debt. When I send a SOA to creditors should this still be the case, and just either my husband or myself sign the letter that is relevant to whoever has the debt at that company?
    No more credit for me - I will no longer live beyond my means :A

    Total debt pre-1 Dec 08 DMP £43,403
  • louloujs
    louloujs Posts: 285 Forumite
    I was asked by CCCS if I wanted to do a joint dmp, but his debts on cards aren't as bad as mine and we're trying to keep one of us 'clean'. So I just did my debts and my income, where it says mortgage for example, it says that 'husband pays'. As it is he is struggling to pay mortgage and arrears but is determined to work his way out of his debt and try and keep his file as good as poss in case we need to get a new mortage in the coming months/years. Doubtful in any event, but this is a last resort for me.

    If you're doing a joint dmp I am sure that whoever the debt belongs to should sign the letter. They might choose to ignore it if it's not signed by the debtor, wouldn't leave it to chance.
    Lou
  • Thanks Lou - it does make sense to try and keep one half "clean", I think I have the most debts in my name (something I'm not proud of) but my income is only part-time and would probably not make a dent in them. I think I will do it jointly as I think at the moment both of our credit ratings are poor.

    We had thought of selling our home but really want to stay in this area and the gossips would wonder why we had moved to rented accommodation - they probably already know we're skint after I sold my car :p
    No more credit for me - I will no longer live beyond my means :A

    Total debt pre-1 Dec 08 DMP £43,403
  • I wouldn't sign anything especially to creditors, I have read that some crafty so and so's can 'lift' a signature and put it on CCA's and stuff so my advise would be to print instead. I don't mean to scare but I wouldn't trust anyone especially creditors and DCA's.

    I asked Capital One to cancel my ppi when I started out on the DMP and they wrote back saying for security reasons they needed my signature. Yeah right! :mad: Statements have been sent to my house and I have dealt with their correspondence so if they had any security issues about me they never raised them before! Idiots :mad:

    Annoyingly I think they ignore any kind of correspondence from you and you just get the standard computerised letter from them but it is good for your own records to send letters anyway,. at least it proves and put your mind at rest that you are bothered about the situation and doing everything you can to deal with it. Although I often wonder how they deal with non-payers, some creditors have completely ignored our plees to reduce interest or stop charges. I do wonder whether we would have been dealt with differently had we not paid at all.
    DMP support thread member 211 :cool:
    I'm only here to get some medals......honest! :D
  • Hi ToffeePenny - I think I must be too trusting, hadn't thought they could be so devious :mad:

    It's annoying to think my letters will just be ignored but even if one company stops charges/interest it'll be a start. A bit anxious about all the phone calls that are going to start but my priorities have to lie with my essential payments i.e. mortgage - I find it so infuriating that these companies have probably been paid back by me ages ago if it had not been for the interest and charges.

    Couldn't believe on opening our new bank account they have given us an automatic overdraft - did they check our credit rating :confused:
    No more credit for me - I will no longer live beyond my means :A

    Total debt pre-1 Dec 08 DMP £43,403
  • symesd
    symesd Posts: 124 Forumite
    Part of the Furniture
    Hi All, hope you are having a good weekene dso far,

    Can anyone help with a question - I have a car on finance which I know is now worth hardly anything, have been paying for 12mths £96, on a 4 Year loan agreement (£3000 loan) car only worth about £950 now, apparantly, I hate the car and want to get rid, can you give the car back to the finance company - voluntary end agreement so early on. I can then go back to driving the car my hubby has which is also in my name, he can then buy the car he wants and we would both be happy.... That is prviding my Hubbie can get finance for another car. Anyone know car loan companies who will not rip us off but will actually give us a loan - our credit rating is through the floor.....

    Thanks
    Current Debt £16,364 about to settle following pension payout
  • sarriep
    sarriep Posts: 321 Forumite
    Part of the Furniture Combo Breaker
    Hi symesd
    Is your DMP a joint one?Just remember you must not take out any more credit if you are on a DMP! Not sure if the car company will take it back sorry!
    Sx
    :eek: LBM August 2008:eek:
    Total debt £51914.74 Paid off so far £47,611 DMP started November 08 Current debt £4,303.73
    Proud to be dealing with OUR debt ! :T
  • Hi,

    I applied for a Cashminder account today to use as a spending account/saving account so that excess funds can go somewhere else without me assuming I can spend them from my other account.

    They don't half ask for a lot of information!! The initial decision was referral but the lady did say that usually they say yes unless they find out something that means they don't want to give me a bank account. I hope that does not mean that my credit history will count. Got an application number and a phone number to phone in 3-4 days to see if the account is approved.

    I saw here that others have done this too. You're slightly ahead of me so can you say if they approved your account? I'm not too worried about getting the account as I have a working one currently I'd just like somewhere to send emergency funds that is not tied to my current bank. I know my credit record is shot to pieces anyway so a failed account search is not going to hurt it any more. Can't kill something that's already dead. Don't have any CCJ's or bankruptcy so that should help.

    Just looking for some re-assurance that it'll work out.

    2nd DMP payment has just been sent to creditors and 2 have accepted with 5 not saying anything. Only one appears to still be charging me though. Waiting for this months statements to see what is going to happen. Last month no interest on TSB credit cards but demands for extra payment were received and both passed to MHA collections who I believe are their in-house collectors.

    Has anyone else had problems with Halifax One Card? I did speak to them at the start and they took the CCCS reference number and said that they'd default the account and then interest would reduce when payments accepted. The only things I've heard from them since are standard demands for more money and they're applying late payment, overlimit charges and interest at the full rate. I'm unsure as to what they are doing. Bank of Scotland account is fine and BOS Preference account has been passed to a DCA who said just continue with the payments so don't know why this card is different.

    Sorry for long post. I read for a while and then all gets asked at once.

    Can I have a number to join officially as well please. Going to be here for many years.

    Thanks
    August 08 debt £58544.84, Paid £1668, Dec 08 Total £58236.48
    DMP with CCCS £417 per month - Starting 01 Sept 08
    Increased to £443 per month Jan 09.
  • louloujs
    louloujs Posts: 285 Forumite
    symesd wrote: »
    Hi All, hope you are having a good weekene dso far,

    Can anyone help with a question - I have a car on finance which I know is now worth hardly anything, have been paying for 12mths £96, on a 4 Year loan agreement (£3000 loan) car only worth about £950 now, apparantly, I hate the car and want to get rid, can you give the car back to the finance company - voluntary end agreement so early on. I can then go back to driving the car my hubby has which is also in my name, he can then buy the car he wants and we would both be happy.... That is prviding my Hubbie can get finance for another car. Anyone know car loan companies who will not rip us off but will actually give us a loan - our credit rating is through the floor.....

    Thanks

    Hi, my husband's in car finance and will be able to give you an honest answer - he'll be back shortly, so I'll post asap.
    Lou
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