My Current DMP Plan

[Life Goes On]

Re: My Current DMP Plan

hmmm not sure, im not bothered about speaking to them now i know there is no get out charge.

The thing that bothers me is the last 18months since marriage ended has been one big emotional and financial hassle, sorting house and debt out etc, now all the letters have stopped and im not getting any hassle from credit card people, my life is finally starting to calm down and running smoothly.

Im just worried that rocking the boat by changing DMP (which i do want to do so i can pay off more of the debt) or going down the EU route will just kick up all the financial hassle and worry again and im not sure im ready for more stress just yet!!

[Never-In-Doubt]

Re: My Current DMP Plan

Im just worried that rocking the boat by changing DMP (which i do want to do so i can pay off more of the debt) or going down the EU route will just kick up all the financial hassle and worry again and im not sure im ready for more stress just yet!!

Then definitely do not change things & keep throwing money away - that way you'll have a nice easy life!

Sorry, I can't help if that's the way you feel - basically we all get stressed with letters but previously you had nowhere to go - now you have us and we deal with most the replies, you simply tell me what was said and i'll tell you what to send back - its like so easy it's unreal. The fact you want an easy life doesn't come into it, you've lost that for the next god knows how long till you pay the debts.

My point here is simple (sorry to sound blunt) - you either accept some hassle and sort this quicker or keep dancing round the merry-go-round for the next 10 years? Only you know the answer and going on your posts, it seems it's the psychological hassle you're avoiding which is the easiest part!

[LooLoo]

Re: My Current DMP Plan

Jen I know how you feel - but........... I just think it is so easy to ignore a phone call........ just file a letter.............

At the end of the day it is your decision but I know there is absoultey no way I would pay a company to manage my DMP that I can do that for free. you are trying to pay a debt yet each month a percentage of your money goes to this company..... just doesn't make sense to me

Just have a think and remember there is so much help and support here you will get through it

good luck

[di30]

Re: My Current DMP Plan

Hi JenJen

I've not used Payplan myself but many have, hopefully someone will be along to advise soon, good luck.

I just had general advice from the CCCS when I was in hardship.

[Never-In-Doubt]

Re: My Current DMP Plan

Hi JenJen

I've not used Payplan myself but many have, hopefully someone will be along to advise soon, good luck.

I just had general advice from the CCCS when I was in hardship.

CCCS are the better of the two, me thinks the original advice given may have been incorrect and extremely premature all things considered......

[Life Goes On]

Re: My Current DMP Plan

Hi

I didnt speak to anyone at CCCS just filled in their online monthly outgoings form, then they came back with Bankruptcy would be the best option asn they didnt feel a DMP would be beneficial.

Dont worry about being blunt Niddy, its what i need cos im a complete chicken at times!!!!
If i went down the UE route, would i stop all payemnts at once, no DMP nothing? What if the cards were enforcable then whats the worst that could happen?

[Never-In-Doubt]

Re: My Current DMP Plan

Hi

I didnt speak to anyone at CCCS just filled in their online monthly outgoings form, then they came back with Bankruptcy would be the best option asn they didnt feel a DMP would be beneficial.

Dont worry about being blunt Niddy, its what i need cos im a complete chicken at times!!!!
If i went down the UE route, would i stop all payemnts at once, no DMP nothing? What if the cards were enforcable then whats the worst that could happen?

Really, and you owe what, £20k odd? Is there any equity in your house?

Right, regards to UE - you need to read the diaries, i've answered every possible outcome but they are spread throughout posts, thing to remember is if you try UE then yea, payments cease - but we then keep it that way unless they attempt court at which point we'll advise you to defend it and link you to our partner solicitor or we'd suggest you quit and start to repay (usually a minimal amount)..... worse that can happen is they issue a ccj and / or get a charge over the house which means that IF (its a big if) they got a CCJ then the worse they could do is add a second charge to the house meaning if you ever sold, then they'd have to be paid out of any proceeds. The secret to beating that, is to borrow against the house so that there is no equity - but again, thats general not specific to you. That is what i'd suggest to someone that is in negative equity or someone able to borrow 100% LTV with little chance of ever being able to pay it all off........

Make sense?

[LooLoo]

Re: My Current DMP Plan

Jen you will see that everyone is nervous before UE and it is not easy I and I kept thinking - erm ok so I just stop paying - like stop paying............

As Nid said have a read around the UE threads and diaries they really are a great help

[Life Goes On]

Re: My Current DMP Plan

I owe the amounts below on the cards and the 26k joint loan with my husband. House has no equity its value is more or less the same as when we bought it 5yrs ago.

yes i understand, thanks im trying to get through reading peoples stories but can only get on here whilst at work so its taking some time.

[Never-In-Doubt]

Re: My Current DMP Plan

I owe the amounts below on the cards and the 26k joint loan with my husband. House has no equity its value is more or less the same as when we bought it 5yrs ago.

yes i understand, thanks im trying to get through reading peoples stories but can only get on here whilst at work so its taking some time.

Can I ask, what is your income vs outgoings? If it's too personal and you'd rather PM, feel free - but it would help me assess one or two things, your level of debt is tiny - it really is 9not meaning to sound bitchy, but i'd be dubious about going down UE router because of the small value involved)....

The joint loan, who is it with and was PPi added? Reason I ask, unsecured loans are max at £25k, so why £26k....?

[Life Goes On]

Re: My Current DMP Plan

just pm'd you my incoming / outgoings.

No PPI was taken on the loan, never took any on anything. the loan was a "together" loan with Northern Rock when we took our mortgage, no idea why they let us have the £26k then, at the time we used it to pay off our credit cards and furnish the house. We pay £161 per month between us, it comes out with my mortgage payment.

[Never-In-Doubt]

Re: My Current DMP Plan

just pm'd you my incoming / outgoings.

No PPI was taken on the loan, never took any on anything. the loan was a "together" loan with Northern Rock when we took our mortgage, no idea why they let us have the £26k then, at the time we used it to pay off our credit cards and furnish the house. We pay £161 per month between us, it comes out with my mortgage payment.

Thanks for the info, the loan now makes sense but £25k is the maximum unsecured loan - or it was! When did you take it out (can you also confirm if that figure of £26k includes uploaded interest/charges for late payments etc - or just the actual debt outstanding?)

What was the original loan for, ie the amount?

Thanks

[Life Goes On]

Re: My Current DMP Plan

Hi the loan was taken out in July 2006 im pretty certain the amount borrowed was 26K but id have to check the paperwork at home to see if includes the interest etc.

[Never-In-Doubt]

Re: My Current DMP Plan

Hi the loan was taken out in July 2006 im pretty certain the amount borrowed was 26K but id have to check the paperwork at home to see if includes the interest etc.

Please do and update tomorrow.......

[di30]

Re: My Current DMP Plan

Hi JenJen

With some of my policies, I did not even know I was paying for PPI, and only when checking on them through receiving documents via Subject Access Request (SAR) in recent years - I noticed they added it without authorisation.

However, you seem to be on top of things there and aware your not paying out on PPI, but just thought I would mention it just in case.
This can also include Credit Card, and Store Card, Catalogues, Car Finance and so on.