DMP & Mutual Support Thread - Part 8

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  • Hi LittleHippyHop,

    Well done on getting everything organised. I haven't heard of the insurance situation being a problem before. I guess, if I were you, I'd let the policy run and then change anyhow (look at moneysupermarket or similar for comparisons).

    Yes, there will be letters and phone calls but, for most people, they don't last long. If it stresses you unplug the phone / set the answer machine to answer straight away. Do any of the creditors have your mobile number? None of ours did and, when they phoned on the landline and said 'I'll just update your details...can I have your mobile number?' I just said i didn't have one.

    Best of luck,
    SAAC
  • Just wanted to say thanks for all the advice re reducing payments.... am going to ring CCCS once I get all my figures sorted out.

    Thanks for all the help guys.

    Also, just wanted to echo what everyones else has said about the stress of setting up a DMP. Once you get through the intial process it is brilliant - no more phone calls or letters and you can live your life without the sleepless nights. Keep at it guys you will get there.

    lol H1983H x
  • 2spicy
    2spicy Posts: 338
    First Anniversary Combo Breaker Debt-free and Proud!
    Forumite
    bitbot wrote: »
    Hi All

    Any advice greatly recieved. Halifax have also suggested in the letter that it may be an option to pass the debt over to the recoveries department, which would mean a default notice been issued, however more likely to freeze interest and charges....would most people pursue this option? I hope this makes sense! any advice greatly appreciated!


    If they are suggesting this, then embrace it asap ... Recoveries people are easier to deal with, they have more "power" to be understanding if you know what i mean. They ARE more likely to take what they can so reduction in interest is quite possible.

    Have you also argued that by charging the high interest in the first place, they are already taking advantage of you in a vunerable situation?
    LBM - Oct - 08 DMP Started - Feb -09
    Total Debt - £77,688 .00
    DMP Support Member - 259

  • 2spicy
    2spicy Posts: 338
    First Anniversary Combo Breaker Debt-free and Proud!
    Forumite
    As we enter Year 4 of our DMP, looking back weve been able to increase our monthly payments from £570 a month to £700 a month. We have played the debt game, traded on ebay / boot sales and rationalised our cars. We have shopped around and even missed 2 family holidays.
    Mrs Spicy gave up work when the second baby Spicy was born, this saved us almost £1000 a month in Nursery fee's and also a saving of £300 a month for before and afterschool care for our eldest little Spicy one. Part time work at the local Asda for the weeks leading up to Christmas gave an extra £100 a week into the Christmas fund, that ensured we had a cracking festive season and refilled the cupboards to bursting with 2 for 1 and BOGOFF deals.

    The Mobile phone contracts ended on the 5th January, and thanks to a superb deal found on MSE we have a pair of iPhone4S 's free to replace our old phones with the monthly contracts reduced by almost 50% what we were paying previously and thanks to Mazuma-mobile, we are waiting for a cheque for £180 for our old mobiles

    Next years Christmas presents were also purchased in the January sales and we hope to beable to do a family break this year

    Our Total debt has gone down from £69,000 to now just under £39,000 and we have another 3 years left.
    Our Plan is to be in a position to increase our repayments and be debt free before Mr'Spicy's 40th Birthday!.

    Were not putting this on here to show off, but for inspiration to people out there just starting ... Play the game, keep enough back for the family where possible and if you look hard enough, there is money out there, you just have to find it.
    LBM - Oct - 08 DMP Started - Feb -09
    Total Debt - £77,688 .00
    DMP Support Member - 259

  • Wow, spicy family, you're an inspiration to all us DFWs and DMPers. Absolutely amazing, well done.
  • Update from moi

    Had my first credit card statement arrive today from Barclaycard. No interest or charges but has been passed to mercer who are evil aren't they?? :s

    Lloyds credit card statement available on line - no charges but full interest (after confirming with Payplan it would be at a reduced %!!!). And now my debt with them will increase by 15 a month :(. Have batted an email off to Payplan to ask them I they can challenge the interest seeing as it was them they put it in writing to that it would be at a reduced level. Not sure if they will contact them or whether I'm going to have to do it myself - however I still have nothing in writing from them about the agreement.

    So a very mixed emotion day :(
    SPC5 #1457 Long hauler #293
    LBM 12/11
    Debtbusting -DMP 01/12 - £48832.04/£48806.91 :eek::eek::eek:
    £[STRIKE]400[/STRIKE] to friends and family :beer: [STRIKE]£250[/STRIKE] Payday loan :T
    [STRIKE]£250 [/STRIKE]O/D :j
    Fatbusting - 126lb/66.5lb :j over half way now! :j
  • The good thing about debt being passed to a DCA is that at least the % stops.

    Lloyds statement - I suspect the online thing just hasn't been updated, this happened to us to, at the beginning.

    Definitely keep in touch with Payplan about it all and Hang in there.
  • Mort
    Mort Posts: 552
    First Post Photogenic First Anniversary Combo Breaker
    Forumite
    Hi Everyone,

    We are coming up to our 1 year review and unfortunatley our income has gone down a little and we all know that prices are going up....

    I jsut wondered has anyone had any experience of reducing their payments and the creditors reaction to this? I am a bit scared they will get all aggressive if we have to reduce them. I think we will we have really struggled the last few months mainly due to the reduced income.

    Any thoughts would be appreciated.

    Thanks H1983H

    This happened to us. Just gave all the details to Payplan and payments went down. I don't recall any problems.
    Proud to have dealt with my debts, became debt free on 03/11/2011. Repaid £54,723.41 LBM May 2006.
    Debt Free Roll Of Honour #504
    Mortgage Free from October 2019
  • Thanks SAAC. I'm going to shop around and look for some different cover. It was actually reading your CCCS blog and some of your posts here that gave me that push to go with CCCS so thanks for that as well! :beer:
    With regards to phone calls, today is the first day in a while I haven't received any but I'm sure it won't last. I had fallen behind with a couple of payments and was receiving a stupid amount of calls from various numbers (the same company would ring from various numbers as I wouldn't answer in the end.) Should I be hearing from all creditors myself? I have already heard from Capital One thanking me for advising me of my situation and saying they will send out further details of the reduced payment plan and dates (not sure about this but haven't had chance to ring so waiting for this letter). I haven't heard from anyone else as of yet.
  • bitbot
    bitbot Posts: 7 Forumite
    BevieB wrote: »
    Did the FSO write to you about your complaint? If not why dont you ring the Halifax and make a statement over the telephone stating that you feel that they have not resolved your dispute and that you will be contacting the FSO again for them to look at it as their action will not improve your situation.
    Regarding the default/recoveries department this most prob would be the best option all round. We are with the Halifax and after compalining they have refunded all interest/charges since Oct 11 although they have not given any information about time scales although with our OD they did say that normally after 12months its passed to the recovery.
    Dont you just love the Halifax.

    i only actually sent the complaint to fos between christmas and new year, and sent a copy to the halifax at the same time, but havent heard from the fos yet. In the letter from the halifax it did say if i am not happy with their response i can take this to the fos as this is their final response...so I may change my complaint to the fos and attach a copy of their letter from the halifax. They attached a cheque for £50 to the letter to compensate me for my distress which i found quite strange! But yes I agree, Halifax seem to be the only creditor I have had any problems with, and none of my other creditors are part ownd by the tax payer, and all seem to be dealing with my situation in a fair and sympathetic manner! Thanks for taking the time to respond
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