? moving to self managed

[Hopelessly Hop]

Re: ? moving to self managed

I hold the view that any good DMP provider should fight hard to freeze interest and charges on all accounts of every customer. I would expect a success rate for this of about 99.9%.

If they haven't done this, in my opinion they have not done their job properly.

Moving to self managed is dead easy and gives you the freedom to negotiate yourself. NEDCAB do a good totally self managed DMP programme. Alternatively, CASHflow is an excellent self managed one, as it has the full backing of a CFS, with all the leverage that brings. The only slight downside is that you have to be invited to join it and have your I&E signed off. I believe Niddy knows someone who does these though, so if you want self managed DMP as opposed to UE, that may be a very good route for you to take.

Thanks BBOO. I have 6 that are still charging. There are two cards, same provider that are charging me 25% which I think is unacceptable. Their defence is am at min payment so tough.

HHx

[Hopelessly Hop]

Re: ? moving to self managed

I see no reason why you should ever need to use a licensed DMP, before UE i managed to secure repayments with all my mothers creditors using her own I & E form, a couple argued some of the points within, but they all had no choice but to accept it.

I think one asked her to use a licensed DMP and she refused on the grounds that shes an accountant, and is quite capable of working it out for herself, they backed down then of course.

But the point remains, not one of them dismissed her own I & E because it wasnt through a DMP

That's helpful to know, thanks.

How long ago was this?

My gut feeling is thast they are less likely to accept unless you 'have been through someone'?

Any thoughts?

HHx

[Hopelessly Hop]

Re: ? moving to self managed

Hi HH

The thing with a self managed DMP is it allows you to play a little more hardball with creditors.

I am on self managed, and the couple of creditors who refused to freeze interest and charges I wrote back informing them I saw little point in paying money towards an ever increasing balance, and I would cease payments.

There is obvious risk attached to this approach, but once they had defaulted me, the issue was academic.

The UE route is good to look at regardless as it gives you further leverage should you need it.

A self managed DMP is hard work, don't think it isn't, but can be immensely satisfying as you realise you can take control of the companies that have been giving you a hard time.

Good luck whatever you decide. Ultimately the right decision is the one you feel most comfortable with.

Best
SnV

Thanks SNV.

Really wish I had the guts. I think they are unlikely to accept the 'little point in paying money towards an ever increasing balance' as albeit going down at a slower pace than it would if they froze interest it is within a downward trend and would be paid off even for the creditor in 3 years.

HHx

[SaltnVinegar]

Re: ? moving to self managed

Thanks SNV.

Really wish I had the guts. I think they are unlikely to accept the 'little point in paying money towards an ever increasing balance' as albeit going down at a slower pace than it would if they froze interest it is within a downward trend and would be paid off even for the creditor in 3 years.

HHx

LOL, no harm in trying

Just want to clear up one point you mentioned above. Are you saying that all your creditors and debt will be in paid now in 3 years?

How long have you been on a DMP with CCCS?

[BBoo]

Re: ? moving to self managed

Thanks BBOO

Do you know if the ones you mentioned are as miserable in the allowance as CCCS are?

HHx

I'd pm Niddy and ask for details of the person who does DMP's on here. I would hope they would be well placed to answer any concerns you have.

To my knowledge the allowances on a CFS are to my mind reasonable.

[Hopelessly Hop]

Re: ? moving to self managed

LOL, no harm in trying

Just want to clear up one point you mentioned above. Are you saying that all your creditors and debt will be in paid now in 3 years?

How long have you been on a DMP with CCCS?

Hi


I have been on the DMP for 2 years. I have 2-3 years to go

HHx

[Hopelessly Hop]

Re: ? moving to self managed

I'd pm Niddy and ask for details of the person who does DMP's on here. I would hope they would be well placed to answer any concerns you have.

To my knowledge the allowances on a CFS are to my mind reasonable.

Thanks for replying

I fully appreciate we are all entitled to an opinion but I dont think it's reasonable to go without holidays for years on end. I now have £17 for entertainment and £10 for emergency a month. I don't expect to be out on the razz all the time but effects on your soul should surely justify a break away and the ability to buy family birthday presents!

HHx

[Hopelessly Hop]

Re: ? moving to self managed

Yes, definitely, it's your lawful right to send a CCA request at any time, whether you are paying or not.

I agree 100%, which why UE is for me!

Thanks so much for that FP. Was wondering if I was looking greedy.

Ideally I would have preferred to do DMP over 5 -6 years and be able to have some life over that time. It seems the way they work is survive on the minimum you can and pay back over the shortest time. So we stick to our side of the bargain but the creditors don't theirs!!! I want to pay it all back but I want them to be reasonable about the interest rate too. When you are living on what they make you and then charge 25% interest it is taking the pee I think. I guess that's how most people feel but feel they have no option given how they squeeze but to go UE.

Does anyone have access to CFS allowances please?

Meanwhile I'm off to find out how I raise CCAs

HHx

[BBoo]

Re: ? moving to self managed

Thanks so much for that FP. Was wondering if I was looking greedy.

Ideally I would have preferred to do DMP over 5 -6 years and be able to have some life over that time. It seems the way they work is survive on the minimum you can and pay back over the shortest time. So we stick to our side of the bargain but the creditors don't theirs!!! I want to pay it all back but I want them to be reasonable about the interest rate too. When you are living on what they make you and then charge 25% interest it is taking the pee I think. I guess that's how most people feel but feel they have no option given how they squeeze but to go UE.

Does anyone have access to CFS allowances please?

Meanwhile I'm off to find out how I raise CCAs

HHx

I totally agree. I think a DMP should allow you sufficient income for those things as well. I don't think for one minute you're being greedy.

I think the CFS figures are supposed to be confidential to those who are licensed to do them.

I would still have a chat to Niddy and see what he says, but at the end of the day, only you can make that decision.

I'm sure you'll find a resolution one way or the other.

[Never-In-Doubt]

Re: ? moving to self managed

thanks but I can't access. It is asking me for a password? Will not recognise my site one?

HHx

What is asking for password? The CFS section doesn't...

Reason - that section is dead! It was removed a while back when MAT asked me to remove it.

Only mods can see this section. The links was never meant to be given to users. We use someone specific to deal with CFS for us, you must PM me for that info.

Thanks

[Hopelessly Hop]

Re: ? moving to self managed

Sorry, posted link by mistake!

Posts removed as link no longer live.

Ah appreciate the sentiment, honestly I do!

HHx

[PriorityOne]

Re: ? moving to self managed

I am on self managed, and the couple of creditors who refused to freeze interest and charges I wrote back informing them I saw little point in paying money towards an ever increasing balance, and I would cease payments.

That's the same approach I took with mine, although most of them didn't get that far to be honest. They argued for a bit and then rolled over.

Thanks SNV.

Really wish I had the guts. I think they are unlikely to accept the 'little point in paying money towards an ever increasing balance' as albeit going down at a slower pace than it would if they froze interest it is within a downward trend and would be paid off even for the creditor in 3 years.

HHx

With respect, it's not about what they will or won't accept; it's about what you can realistically afford. If they won't accept your offer, pay it anyway while you investigate the UE route. That way you're covered.

[Never-In-Doubt]

Re: ? moving to self managed

I have PM'd our DMP Guy to have a look at this. He will be in touch with HH soon

[Hopelessly Hop]

Re: ? moving to self managed

I have PM'd our DMP Guy to have a look at this. He will be in touch with HH soon

Ooops nearly pressed report abuse, was an accident honestly :niddy

Thanks Niddy x

[MrsD]

Re: ? moving to self managed

och accidents happen, we haven't shot anyone for at least a week.............