DMP & Mutual Support Thread - Part 11

Jaydee92 wrote: »

Good Evening,

I posted back in January when I was still in panic mode, not having a clue what to expect. Since then, I have been reading through previous threads and want to say thanks to everyone who posts on here, your knowledge is invaluable. I have felt so much more at ease starting a DMP journey being able to read your posts.

If you don't mind, I will tell you what's happened since January. We had hoped to start for 1st Feb start but due to sorting new bank we started 1st March, putting February's money to EF. I waited and waited for the daily letters/phonecalls, hardly anything.

My biggest worry was the big loan (just under £19,000) but apart from one letter to say we had cancelled the direct debit, we've had nothing else so far, 3 payments down.

Now, the credit cards. If anyone happens to remember my 1st post this were maxed out due to my husband gambling, his way of dealing with the death of his father, digging himself in a deeper hole trying to win to pay off the cards, this stopped when I found but is what tipped us over the edge to say, as there was no way we could meet even the minimums and is what led us to find out about Step change. Anyway.... Halifax has stopped interest + charges for duration of plan, same to MBNA. Tesco have agreed to 6 months, then review. At the beginning we had a letter from SC to say Barclaycard would not accept nor stop interest, but they only added it on the 1st month, the last two months its been 0%. I know these can all change but considering my husband was using those cards for gambling for 5 months and for nothing else, I didnt think we would see such a result so early on.

Next have been the biggest pain in my a** so far, the lowest debt by far too. First month they said my name was wrong (apprently I'd never updated to my married name) all sorted, til the next month when they said my name wasnt on the agreement at all! The lady I had on the phone that day was not helpful in the slightest, so I just rang back the next day and spoke to another lady who said it was nonsense as my name was clearly there. After trying to set up a plan and realises I wouldn't they terminated and defaulted the account. But because of these problems in the last 3 months, only £1.06 have gone off the original debt.

Sorry for such a long post, but just wanted to say the start of all this has been 100 times easier than I thought it was going to be, and with all your advice on here, I feel like I will be able to get through any tough parts, so thanks again. And thought maybe this would help anyone new joining, who may be feeling like I was back in January.

Hope you've all had a lovely weekend.
JD x

sourcrates wrote: »

Hi,

If all your debts are still with the original creditors, then any legal action is EXTREAMLY unlikely, creditors don't have the time or want the trouble to take everyone to court for what amounts to nothing more than a few small credit card debts.

The usual senario is the debts get sold around different DCA's, who will try to collect in full on them, court action is always threatened, it's used as leverage to get more money out of you, but only happens in less than 10% of cases, so quite rare.

Since 2013 when a creditor obtains a CCJ against you, they can apply for a charging order straight away, on a joint mortgage, it would only be a restriction, so an order for sale would not be possible, as said previously, orders for sale are very rare, and you have the chance to challenge the order, at every part of the procedure.

As long as you are paying your DMP, non of the above is likley to happen to you, stop worrying !!!!

Sazzie23 wrote: »

Hi and welcome to the thread

I'm with Puzz and the others, it's highly unlikely you'll even get a threat of a charging order, much less an order to sell. A charging order is basically a lien in your home when you do sell, I.e. If you sell you'd have to pay the owner of the charging order, sort of like making in unsecured debt secured I guess. I'm no expert on these and in my 3 years on the thread I've only come across one person who has come for advice on a charging order, so they are pretty rare.

Your debts seem to be in the standard ballpark for DMPers, some have less some more, some longer DFD some shorter. It looks like your debts are sim to mine, and I'm hoping to clear my mortgage in the same timeframe approx which will knock my DFD down from 2030 to hopefully around 2024 (or less but I hardly dare hope).

Keep your focus on affordable payments and getting your budget right and try not to worry about the 'what might happens', it probably won't.

Remember we are the good guys, not running away but facing our debt and planning to pay it back, just needing more time.

Good luck, and questions welcomed anytime on here.