New user Pip saying "Hello!" and with overview of my situation before setting up diary

[Pip]

Re: New user Pip saying "Hello!" and with overview of my situation before setting up diary

You really need to start the ball rolling and decide to either cease the DMP or go for UE in the full on sense. That's what I would do, pointless paying into an endless and bottomless pit when if you cease repayments, maybe even one or two that don't let go will outweigh several years of hardship to maintain the preagreed payment levels.

Thanks! That's pretty much what I've been thinking. Either pay into a bottomless pit and be scrabbling to get by on reduced-to-clear Tesco medium sliced white Stripey Value toast and beans for 13 years, or have a go at doing something a bit less passive in dealing with the situation than going along with CCCS's stipulation that you have to live like a cloistered nun or monk and dedicate over a decade of your life to being a credit card company chattel, and precious little else.

There's such a lot of information for people to take on board when they're first starting out in dealing with debts; unfortunately, it takes a while to absorb the different options and routes available, and by the time you're getting reasonably informed a year or so later, you've already stuffed five grand down the DMP/CCCS etc. toilet to have your outstanding balance be reduced by a couple of hundred.

A few months ago, or even as recently as November when I cancelled the direct debit, I was a bit worried about parting ways with CCCS. But as I haven't reinstated the direct debit (and won't be), I'll be informing them next week that I'm trying the UE route. It's with thanks to Flowerpower that I even found out about AAD and that UE as a concept and possible route to take isn't dead in the water. Phew.

I realise it's not going to be an easy ride, but oddly I think it'll put my mind at rest more than worrying about where to find the monthly CCCS payment (that isn't making much of a dent at all in the total amount of debt). Since my first posting here a few hours ago I'm already starting to feel the weight lifting off my mind!

A friend who was visiting from the US a few months ago nearly choked on his beer when he heard how much I was paying each month. The laws here are admittedly different to over there and don't exactly allow for walking away from the debt, but the question he asked, which stuck with me, was:

"What is your return on that monthly investment of £400?? What are you getting in return for that investment?"

I struggled for an answer before feebly replying, "Well, it keeps them off my back". Although, no, it didn't keep them off my back, as I still got frequent hassle even when paying £400 a bloody month!

The CCA request letters are nicely printed off and will be sent off tomorrow ..!

[Deepie]

Re: New user Pip saying "Hello!" and with overview of my situation before setting up diary

Good luck..........

[Pip]

Re: New user Pip saying "Hello!" and with overview of my situation before setting up diary

Pip, that has got to be one of the most hilarious email exchanges I have ever read. You are definitely going to fit in right here. I wonder whether Niddy should consider a Spider Template Letter for DCAs

Hello PlanB!
I just came across that bloke's website the other day, and the one about "Could you design me a poster for my lost cat?" had me laughing more than I've done for a very long time!
(Link to "Missing Missy" -- poster for a lost cat)

I've only read about four of them so there are a lot more to look forward to reading!

[Never-In-Doubt]

Re: New user Pip saying "Hello!" and with overview of my situation before setting up diary

Oh there are loads, Grubby Tenant is also funny

---> grubby

Just click the links down the left, hundreds - the guys classic

[pompeyfaith]

Re: New user Pip saying "Hello!" and with overview of my situation before setting up diary

Pip,

Good luck in your adventure no one is saying it will be easy but then that is what we are here for to take some of the weight and guide you a clear path.

If you have not done so all ready have a read of some of the UE Diaries that will give you a good insight.

Regards

[SaltnVinegar]

Re: New user Pip saying "Hello!" and with overview of my situation before setting up diary

Either pay into a bottomless pit and be scrabbling to get by on reduced-to-clear Tesco medium sliced white Stripey Value toast and beans for 13 years, or have a go at doing something a bit less passive in dealing with the situation than going along with CCCS's stipulation that you have to live like a cloistered nun or monk and dedicate over a decade of your life to being a credit card company chattel, and precious little else.

I know that the CCCS are in cahoots with the finance 'industry' but I have been seeing recently some very odd decisions and advice given such as this even considering their relationship with lenders.

What was the justification they gave you for such a massive duration for a DMP?

BR only last 6 years ffs!

Yours isn't quite the worst, I saw someone on MSE a couple of months ago who was on a 17 year DMP!!!!

You can look at taking things on yourself, and if some of the accounts turn out to be non-UE then you can self manage a DMP while tacking the UE accounts. Much more flexibility.

Best of luck

SnV

[Never-In-Doubt]

Re: New user Pip saying "Hello!" and with overview of my situation before setting up diary

BR only last 6 years ffs!

used to mate - most cases it's less than a year now

[SaltnVinegar]

Re: New user Pip saying "Hello!" and with overview of my situation before setting up diary

used to mate - most cases it's less than a year now

Yup even more of a reason to consider a 13 year DMP @ £400/month insane!

[Never-In-Doubt]

Re: New user Pip saying "Hello!" and with overview of my situation before setting up diary

Yup even more of a reason to consider a 13 year DMP @ £400/month insane!

did you know how much money Barclays pay CCCS per annum?

[MrsD]

Re: New user Pip saying "Hello!" and with overview of my situation before setting up diary

how much?????

[Never-In-Doubt]

Re: New user Pip saying "Hello!" and with overview of my situation before setting up diary

---> CCCS | Corporate | Our supporters


Hmmmm

Trustees ---> CCCS | Corporate | Our trustees - England


That should answer it all when you consider their chief whip is erm, ex Barclays

[Never-In-Doubt]

Re: New user Pip saying "Hello!" and with overview of my situation before setting up diary

how much?????

It has more than 5 0's in it

The big banks such as Lloyds TSB, Barclays and HSBC. The association asks the banks for voluntary contributions totalling around £15m a year because it argues that the lenders would have higher bad debts if CCCS didn't step in to help.

[Never-In-Doubt]

Re: New user Pip saying "Hello!" and with overview of my situation before setting up diary

did you know how much money Barclays pay CCCS per annum?

Ok, Ok - I *heard* in 2011 they got £4.2m or thereabouts. How true it is, I dunno - I may try and get the info via the Barclays annual return when it's posted in the governance section after August 2012

[MrsD]

Re: New user Pip saying "Hello!" and with overview of my situation before setting up diary

bampots

knew they did it but didn't know how much, as i said earlier it was their attitude that made us give up the DMP and go for UE, "adviser" was a cheeky shytebag.

[SaltnVinegar]

Re: New user Pip saying "Hello!" and with overview of my situation before setting up diary

"Wilf Stevenson is Chair of CCCS.
Lord Stevenson became a life peer in the House of Lords in July 2010, having advised the former Prime Minister Gordon Brown on constitutional affairs. He was a key adviser to Brown throughout his time in government, and in 2008 was brought in by the then Prime Minister to oversee proposals to reform the constitution."

Well with that sound financial advice and experience having guided Gordo its no wonder people are being advised to take DMPs that span decades!