DMP Mutual Support Thread (Part 4)

misspixierocktastic

Thanks whoopiedoodle -Oh i'm a money saving convert which is great so i havent accumulated more debt from silly spending
If i can't buy it from ebay using the money in paypal that i've earnt from slice the pie then i don't want to know

My mum bless her understands my situation but occasionally she's like sammi you need to treat yourself why don't you buy those shoes you like but i stay strong because i don't need them i'm perfectly fine as i am i think she think's i'm unhappy but i'm not i'm just focussed on what i need to get done and endeavour not to be distracted by shiny things anymore like clothes and makeup etc :-)

very_silly_and_scared

Hi again

can I just say a BIG thank you once again for all the kind words, practical advice and support everyone has given me today. I have been so panicked and feeling so despairing to the point where haven't slept or eaten properly in days and just wanted to disappear. Was so isolated and unable to tell anyone and already I feel like I am not in this alone.

I will be around here for the long haul, think my new bank account is getting sorted,they just need id proof I am who I claim to be (should have gone into branch to open it but seemed like would be quicker online).

Once that's done, am going to cancel my non priority direct debits and send the payplan letter with token payments then pay a whopping chunk off my council tax arrears. I am also more aggressively chasing £260 I have been owed since Jaunary for some freelance work I did for a national company who can afford to pay it but haven't and the compensation from an airline that left me stranded in Poland last October (which was actually great, but they have never stumped up the cash for the hotel, the alternative flights and the other costs associated with overbooking the plane.) Have decided to take everything 'official' and get help of unions/airline regulators!

I feel so much more confident after your support today....I know it's not going to be easy but I also feel after reading the thread and talking to you all that it's the right thing for me to do.

And congratulations misspixie... am not going to see 30 again but hope to be debt free at 41!

Toffee_Penny

Haven't got anything to say about my DMP situation, I've had no calls, well I did change my number so that might have something to do with it :rotfl: but I haven't seen Postman Pat round my street for ages and had no letters from any creditor, I don't even get much junk mail now I'm so offended :mad:

Anyway wanted to say a big 'hi' to newbie very silly and scared, I read your posts and think 'god how I used to feel like that' just a few weeks ago. Just before my DMP started I phoned in sick, took the day off and got everything sorted photocopied letters, changed my bank account, contacted direct debits etc. I felt sick to the stomach that day and it was a horrible feeling, the not knowing of it all. I was a wreck and could have quite easy slipped, not suicide christ no, but if I had let it get me down too much I could have ended up depressed on tablets and all sorts.

It gets easier I assure you, once your DMP paperwork is through, direct debits have been changed to the new account and you see your bank balance in credit rather than minus you will feel relieved. My advice is do a bit of homework, check out the wonderful websites such as this and national debtline and you will find out just what the creditors can and can't do.

It gets easier I assure you and I bet like me in a few weeks time you will be posting on here giving reassurance and guidance to another new and worried character just like I am to you. Take care and don't let it get you down, it really isn't worth it there are more important things in life to worry about like whether Steve and Michelle from Coronation Street will get back together again :rotfl:

Ex-Spendaholic

Just a completely random piece of advice from me about Direct Debits.

Since starting on the DMP, I obviously cancelled all the creditors DDs. I then took the step of getting rid of as many other DDs as possible. That way there are fewer people in control of my bank account (to me that is what DD's are - giving control of your money to other people). I have 2 systems in place now:

Electric, gas, - prepaid meters
Council Tax - payzone payment card
Mobile phone - pay as you go

Everything else I have set up as online bill payments - meaning I pay them as and when rather than have people claiming DDs when they want.

There are a few that had to stay - Virgin Media. They charge £5 per month if you don't pay by DD - no way am I giving them an extra £60 so I allow that DD. My insurances are with Direct Line and they only accept payment by DD so they stay too although I insist that they all go on the 1st of each month.

It is just a great way of making sure that money doesn't come out when you least expect it or people don't try to take money when you don't have it and you end up incurring bank charges. Doing this and paying cash for everything avoids charges.

Sorry that was all so random but it may be a useful idea for someone.

pucked

Hi Ghosthunter,

I used to be with Lloyds and have now opened an account with CoOperative. They are not linked to Lloyds - I think I asked them that question and I was told that they were not linked to anyone. But phone them and ask just to be sure.

I also told them that I have bad credit record and were they likely to refuse me. The lady was very polite and said that in the worse case they would give me an electron card. Then after 6 months I could request an upgrade to visa debit - assuming my account was ok. In the end they just gave me a visa debit.

pucked

My latest situation is:

1. Changed my bank account
2. Managed to get my wife to change hers (we had a joint account with Lloyds with my debts)
3. Cancelled my DDs (forgot to make token payments but sorted that out today)
4. Changed my ground line phone number (BT did it for free within 24hrs)
5. Arranged my DD to PP from new account
6. Waiting now to confirm my salary goes into my new bank account
7 Then PP will approach Lloyds and send financial statement to all creditors

Feeling a bit more positive that things are beginning to be set-up but still apprehensive about interest charges, threatening letters etc. But like everyone says here it shall pass.

I have 2 questions:

1. Why have many people gone for Self Managed DMP when organisations like PP can manage all this for you. Are there any advantages - should I consider this one day?

2. Once the DMP payments start going will I still receive my monthly credit card statements. I don't really want the statements - its a monthly reminder of the mess I am in. I just want the DMP to continue in the background and 6.5 years later it will be over. Meanwhile I just want some simplicity and peace.

Thanks All

maz1964

hello all, and all newbies since i last posted the other day

We are growing here, lol

Well Pucked, you seem to be on top of things well done, ive done my own dmp and i wanted to keep things seperate from my husbands money and his bills thats why ive done it this way.
Also the control of dealing with the paperwork myself and ive learnt no end of stuff along the way so thats been fab.

Im hoping to get back to work pretty soon thus my incapacity is only about 75.00 a week so by going back to work ill be at least double that amount part time hours. So my idea is that i do have mainly credit cards, and most have suspended interest and charges, some have given low interest charges.
im trying to work out and find out if i could at least offer some of my lower creditors less than a 1000.00 owing, a figure to settle the debt quickly with my extra money from a few months - but i do understand that other creditors will have info from my credit file to go by so i need to check this out further and get advice.

I do get a monthly statement from all my creditors at the moment.

also if i can get to a point with the extra money from wages, i might be able to snowball the extra funds so i clear the smallest debts asap, even if i have to get back to paying them the minimum,,, ive still got to work all this out
how best to approach the best way forward.

Some of the creditors have given me straight 12 months payment plan and will be reviewed again then, doesnt mention if my circumstances change i should inform them, then ive had mbna advise yes to 12 months plan no interest but if my circumstances change i must inform them. so hence im stuck.

Any advice would be fab

idealy i might get to increase my hours and go full time, that would certainly double my wage and thus i could definately offer full and final settlements and also then use the snowball calculator and decrease my debts faster.

Anyway those are my thoughts at this time of night, anyone still up with any advice i would appreciate it

have a fun day all tomorrow ciao MAZ

Ex-Spendaholic

Morning all
Pucked, well done. :beer: You are doing brilliant. I don't get statements. Everything of mine has been passed to DCAs. At first I did get statements from the likes of the Halifax credit card. I know where you are coming from. I see myself as having one debt now in one place and I don't get half a dozen reminders of it daily from the postman like I used to.

Re. the self managed DMP. I am with CCCS. 6 months before I went with CCCS I asked the Halifax to consider reduced payments on my credit card. The fact that my bank accounts were in a mess and I had mortgage arrears obviously meant nothing to them. They told me that they and no other financial organisation would accept reduced payments unless I used someone like CCCS. Unfortunately I believed them and it took me another 6 months to do something about my situation. :mad: I'm happy with CCCS but I now realise that if I have to go it alone at one stage that I will be strong enough to do it.

Maz that all sounds great. I'm not sure if creditors go looking at your credit file. Surely we have to give permisison for that sort of stuff - or am I just naive? You could put your extra money into an ISA for a while until you decide what to do.

newlywed

pucked wrote: »

2. Once the DMP payments start going will I still receive my monthly credit card statements. I don't really want the statements - its a monthly reminder of the mess I am in. I just want the DMP to continue in the background and 6.5 years later it will be over. Meanwhile I just want some simplicity and peace.

Some and some

I get three statements a month.

One from CCCS about the DMP.
One from First Direct.
One from a Debt Collection agency.

The other three accounts I check the credit reference agencies for the up to date amounts and keep a spreadsheet to check what amount I think they are (to make sure they're not charging any interest).

rayday2

Pucked - only reason I do my own DMP is because I did approach a management company but we realised they wanted there minimum which would still leave us struggling. Then I found the National Debtline website ordered a copy of there "dealing with your debts" book and got stuck in. I never realised I was on a DMP until I found this website a bit later on.

I would say its to my advantage I do my own as I am a bit of a control freak and I would get no peace of mind ignoring letters letting someone else do it, its not in my nature. My children aren't allowed to go to school without my interferring, being a governor helping out etc (maybe I need help :P)

Anyway the other advantage has been that I can chisel away at ignoring little debts, long term this does not help the DMP but it boosts me to think now I only deal with 5 companies than 8.

I have also got interest etc refunded but anyone even with the CCCS can do that.

The downside is, especially in early days before this site I had no one to talk about. Probably why I worry about new people at that DMP decision stage and setting it up, they were bleak times for me espcially as I had no idea particularly at that stage what I was doing. I think if your long term goal is to get your debts to the point where you just send a monthly payment and forget about it a company doing it for you is ideal.