DMP mutual support thread part 13 !!

HonestS wrote: »

Hi, I’m putting all my information into NEDCAB so I can generate my holding letters. This might be a silly question but where do you get the addresses from, or do I just send them to any address related to the bank/company?

When I generated my holding letters through NEDCAB the address sections were automatically completed by NEDCAB, that was for Barclaycard and Capital One. I didn't have to look for the addresses myself.

sourcrates wrote: »

Hi,


Welcome to the DMP support group.


Its always difficult to advise when you have no real information to go on, so this is my basic common sense response, as you are in debt management, its unlikely you will get further credit at present, obviously this balloon payment has come as no surprise to you, yet you have not saved anything towards paying it.


It appears as though you are still trying to cling to your credit bubble existence, with fancy ideas of expensive cars, and no means to finance them, seriously, you can buy a perfectly good, reliable car for a grand or less, you need to tone down the ambition until your debts are re-paid, and you can then look at building yourself up again.

I don`t want to come across as been harsh, you just need to re-visit your light-bulb moment me-thinks.

Just to add my agreement to this.

Hi, I have just joined. Had to face up to being in £17000 of CC debt. I tried to get a debt consolidation loan yesterday, but was turned down, and maybe that was for the best? The repayments would have been less than the minimum payments on the cards, but I suppose the lender considers me a bad risk, although I have not yet missed or been late with a payment, and my Experian credit score, (which they used) shows "Good". Considering DMP with Stepchange. Their debt remedy came up with DMP as solution over 4 years 10 months. I feel so stupid and ashamed, and cannot sleep for worry. I am not young and should know better than to have got into this mess at my age! I have no pension to cash in early. I am still working and plan to do so for next 7-8 years, and finally should get my state pension next September in addition to my salary, albeit taxed! I had also thought I would get this at age 60! This should allow me to pay it off even quicker. £8000 CC debt is with Halifax and I wonder if I should ask them if they would consider a debt consolidation loan or to go with the DMP?

Moveslikeagger wrote: »

Dmp is the best thing I did. Interest has been stopped on all but one of my debts which is saving me loads and debts are not getting higher! My credit file is in pieces anyway so wasn't worried about ruining that! Creditors have been great and its nice having money left over at the end of the month which is actually yours!

Thank you for your advice. I think it's the shock of facing up to this, that is making me reluctant to jump in with the DMP, after being in denial for so long. But the worry has really got to me and is spoiling my life, and of course as I can only blame myself, I am feeling pretty low. I am so ashamed and don't want any of my family friends or colleagues to know that I am in debt. Somehow it seems easier to say you have a loan rather than be on a DMP, But that's the whole problem, perhaps. Credit is too easy. This thread is helping as I realise many other people are in the same boat and I must take control. Thanks.