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  • FIRST POST
    • sourcrates
    • By sourcrates 26th Mar 17, 12:20 PM
    • 12,427Posts
    • 11,833Thanks
    sourcrates
    DMP Mutual Support Thread - Part 12
    • #1
    • 26th Mar 17, 12:20 PM
    DMP Mutual Support Thread - Part 12 26th Mar 17 at 12:20 PM
    Welcome to the DMP mutual support thread Part 12 !!

    Here you can find help in starting and running your DMP, self managed, Stepchange, Payplan and any other DMP all welcome here, but we do encourage you to use a free service, not one you pay for.

    There is help on getting interest and charges stopped, how to start with an emergency fund, defaults, token payments and lots more.

    If you are in a DMP or thinking of one, this is the place to be. We are non judgmental and all questions are welcome.

    Again the old thread was getting a tad long, so time for a new one.

    The old thread can be found here :

    http://forums.moneysavingexpert.com/showthread.php?t=5285089

    Once again, i think the original "newbie" post by sazzie23 still rings true.
    Last edited by sourcrates; 26-03-2017 at 12:50 PM.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
Page 113
    • StopIt
    • By StopIt 6th Nov 17, 8:29 AM
    • 1,371 Posts
    • 1,169 Thanks
    StopIt
    Thanks
    One question I have is around an overdraft.
    All of my other debts are credit cards and are on my name only. My only joint liability is my current account which I share with my wife.
    When talking to StepChange they recommend that I include the overdraft, which is £2000 and costs me £20 per month fees, in my list of unsecured debts.
    My query though, if I state I can no longer afford this overdraft debt, will Santander pursue my wife for the money.
    This would be a nightmare situation for me as I do not want to drag her into my financial predictament, potentially harming her credit score .
    Originally posted by Ostrich no more

    It's your call, and you can always self manage with the NEDCAB calculator.


    However: A DMP of any form will trash your credit history. If you have joint financial products like an Overdraft, this can affect both of you.


    The danger is that if you enter even a self managed DMP, your bank will notice a marked deterioration in your credit risk, and call in the overdraft anyway.


    Get specific advice from Stepchange about this, as all banks are different and they may have a better idea on how to tackle this one. If it is possible to remove your name from the Overdraft, and your partner can manage this debt, without it being called in, that may be an option.
    • Ostrich no more
    • By Ostrich no more 6th Nov 17, 12:36 PM
    • 5 Posts
    • 5 Thanks
    Ostrich no more
    I think I will try and have my partner removed from the account first. She doesnít use it anyhow, she uses a separate bank account , and I am the only one using it.
    I will post the outcome on th forum to share in case anyone else is in the same boat 🚣
    • Suseka97
    • By Suseka97 7th Nov 17, 9:01 PM
    • 146 Posts
    • 219 Thanks
    Suseka97
    Forgive me if I go a bit quiet on the forum... have had some bad news today (family related) and so I need to focus on that for a while.

    So - for any newbies joining recently, do take the advice given from many of us who have 'been there'.. 'done that'. Its scary at the start, but don't let the creditors dictate terms. Give yourself time to adjust to your new situation - don't rush in to an DMP too quickly and build up that emergency fund. Don't fret over threatening (computer generated) letters - there are so many of us folks, and more joining by the day, who are battling with crippling debt. Look on the positive, they can't take us all to court Just keep in touch with them but do so on your terms.
    LBM Apr13: 14 Creditors / £85k+ owed
    Self-managed Aug17
    Current Status: 6 Creditors / £11,994
    • Jon81
    • By Jon81 9th Nov 17, 6:13 AM
    • 89 Posts
    • 169 Thanks
    Jon81
    Thanks
    One question I have is around an overdraft.
    All of my other debts are credit cards and are on my name only. My only joint liability is my current account which I share with my wife.
    When talking to StepChange they recommend that I include the overdraft, which is £2000 and costs me £20 per month fees, in my list of unsecured debts.
    My query though, if I state I can no longer afford this overdraft debt, will Santander pursue my wife for the money.
    This would be a nightmare situation for me as I do not want to drag her into my financial predictament, potentially harming her credit score .
    Originally posted by Ostrich no more
    Liability for joint accounts is joint and several that means if one party cannot pay the other has to.

    Is your partner aware of your current circumstances?

    A joint account and the conduct of said account will be reported to the credit agencies as such - itís inclusion on your debt management plan will likely be marked as such


    You may have been advised to open a basic bank account, or facilities without an overdraft elsewhere? Have you done this
    • SpagBol
    • By SpagBol 9th Nov 17, 2:30 PM
    • 1,352 Posts
    • 10,545 Thanks
    SpagBol
    We received a huge amount of letters today but still noone accepting the DMP offers on my accounts!

    My husband has had some offers received so we can start setting up standing orders for those but is it ok to start paying some before we pay them all?

    This is the first month we haven't used credit in AGES. Still a few days until payday but we're going to do it! I'm so pleased, thanks everyone on here for just being here.
    DF by Xmas 2015 #002: £5,203 / £44,000 (31/3/15)
    DF by Xmas 2014 #001: £5,000 / £49,000 10.2% (23/12/14)
    DF by Xmas 2013 #002: £1,495 / £47,000 (31/12/13)
    DF by Xmas 2012 #084: £17,715 / £58,000 30.54% (26/12/12)

    Long haul #303 LBM Nov '11 Debt over £58k Dec '14 Debt £45k
    • StopIt
    • By StopIt 9th Nov 17, 2:39 PM
    • 1,371 Posts
    • 1,169 Thanks
    StopIt
    We received a huge amount of letters today but still noone accepting the DMP offers on my accounts!

    My husband has had some offers received so we can start setting up standing orders for those but is it ok to start paying some before we pay them all?

    This is the first month we haven't used credit in AGES. Still a few days until payday but we're going to do it! I'm so pleased, thanks everyone on here for just being here.
    Originally posted by SpagBol

    As a DMP is meant to be paid on a Pro-Rata basis, you don't ask if a creditor is going to accept it, you tell them what you're paying them.


    So set up everything as you have calculated. Pay every creditor at the same time, whether they have "accepted" this or not. Some creditors have a policy of rejecting everything and defaulting, but will take the payments anyway and manage the debts until sold.


    Are these debts all with original creditors? if so, pay the payments as calculated, and they'll likely sell the debts on in due course.


    Most DCAs do not reject DMP payment plans nowadays, so you pay the DMP payments until the debts are sold, tell the DCA of your situation and they'll happily take the payments instead.


    Also: Have you set up an emergency fund? If not, pay nobody until you have a level that you're happy with, as you wont be able to borrow if the cooker/car/cat blows up.


    Good luck! (maybe update your signature?)
    Last edited by StopIt; 09-11-2017 at 2:42 PM.
    I'm a Board Guide on the Debt Free Wannabe, Credit Cards and Loans boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Board guides are not moderators. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com

    In debt and looking for help? Look here for the MSE Debt Help Guide.
    Also, If you need any free and impartial debt advice, the National Debtline, Stepchange, and the CAB can help.
    • Ostrich no more
    • By Ostrich no more 9th Nov 17, 8:12 PM
    • 5 Posts
    • 5 Thanks
    Ostrich no more
    Liability for joint accounts is joint and several that means if one party cannot pay the other has to.

    Is your partner aware of your current circumstances?

    A joint account and the conduct of said account will be reported to the credit agencies as such - itís inclusion on your debt management plan will likely be marked as such


    You may have been advised to open a basic bank account, or facilities without an overdraft elsewhere? Have you done this
    Originally posted by Jon81
    Yes my partner is aware of my situation. She has contacted the bank, Santander, who have booked us in for an in branch meeting to address the issue.
    She does not use the account, has not for several years, but my salary and Direct debits go in and come out.
    We have told the bank that she wants to remove her name as she is not active.
    We will see what happens.
    Ultimately , this is our only unsecured debt linking us both and I do not want to impact adversely on her credit score as my own heads south quickly.
    Anyone any experience of a similar issue?
    • Ostrich no more
    • By Ostrich no more 9th Nov 17, 8:17 PM
    • 5 Posts
    • 5 Thanks
    Ostrich no more
    Yes my partner is aware of my situation. She has contacted the bank, Santander, who have booked us in for an in branch meeting to address the issue.
    She does not use the account, has not for several years, but my salary and Direct debits go in and come out.
    We have told the bank that she wants to remove her name as she is not active.
    We will see what happens.
    Ultimately , this is our only unsecured debt linking us both and I do not want to impact adversely on her credit score as my own heads south quickly.
    Anyone any experience of a similar issue?
    Originally posted by Ostrich no more
    Basically whatís i am hoping is that my partners name is removed from the account , and I am solely responsible for the overdraft facility, which is £2000. I have £2500 salary going in every month.
    Would be interested in any thoughts from anyone in a similar situation in the past.
    • Sazzie23
    • By Sazzie23 10th Nov 17, 7:03 AM
    • 2,612 Posts
    • 10,485 Thanks
    Sazzie23
    Basically whatís i am hoping is that my partners name is removed from the account , and I am solely responsible for the overdraft facility, which is £2000. I have £2500 salary going in every month.
    Would be interested in any thoughts from anyone in a similar situation in the past.
    Originally posted by Ostrich no more

    Hi Ostriche

    I'm sure someone will have advised you to make sure, whether or not you include the OD in the DMP, that you have a separate bank account for your wages to be paid in, or you could find that your wages get taken in what is known as 'rule of offset'.

    Best to have yourself a new basic account that is free of any attachments to companies you have debts with.

    Regards the joint OD, we were in that exact situation, unfortunately the bank wouldn't let us change the account to my name and it went into the DMP but the DMP was only mine. Because the OD was actually being paid off and within the terms of the account it didn't affect the OH particularly badly, though when I go a PPI payout, it was paid off and therefore no longer an issue.

    Not sure if that helps you at all, but good luck with

    Saz
    Debt -it's a fight that I'm winning, dealing with debt one day at a time.
    Estimated DFD August 2018 - 2031 - now 2027

    Guide dog Tess, missing Scotland 2 years

    DMP support no438.
    • January2015
    • By January2015 10th Nov 17, 7:43 PM
    • 1,757 Posts
    • 4,746 Thanks
    January2015
    Hello everyone

    Sorry I am not around much lately - life interrupts! Still happily plodding through our DMP at token payments - hence the outstanding balance is not reducing very fast but we are working hard to save and push for those F&Fs. We've had a break from even trying for F&Fs ..... because of that interrupting life

    We've had two family members pass away but it was expected and they were both fast approaching 100 years old - even so it has been a difficult few months since July when their health really started to fail

    I will try and catch up with you all (I suspect it's going to take me ages to read through the thread.... 113 pages for goodness sake! )

    Jan -x-
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k I'm driving it down
    £1k emergency fund (member #84) £1k/£1k
    Xmas 2017 £1 p/day challenge No. 20 - £420/£730
    Make £10 p/day Feb £74.31, Mar £664.37 Apr £40
    • Puzzcat
    • By Puzzcat 11th Nov 17, 12:16 PM
    • 3,141 Posts
    • 16,237 Thanks
    Puzzcat
    Yes my partner is aware of my situation. She has contacted the bank, Santander, who have booked us in for an in branch meeting to address the issue.
    She does not use the account, has not for several years, but my salary and Direct debits go in and come out.
    We have told the bank that she wants to remove her name as she is not active.
    We will see what happens.
    Ultimately , this is our only unsecured debt linking us both and I do not want to impact adversely on her credit score as my own heads south quickly.
    Anyone any experience of a similar issue?
    Originally posted by Ostrich no more
    I had a joint account with my OH, I closed it prior to starting my dmp with SC.. Luckily he had enough money to pay off the overdraft. We are still financially linked through the mortgage though, not much I could do about that as I didn't have a few hundred thousand sitting around doing nothing to pay it off....

    Good Luck..
    Puzz
    Christmas 2017 £550 cash/£109 vouchers
    I love my dmp started in Nov 13 with SC 41% paid £4k UE
    Going Self Managed March 2016
    Pot Of Gold - £460.00
    MY DIARY -
    http://forums.moneysavingexpert.com/showthread.php?t=4768685
    • selinek
    • By selinek 12th Nov 17, 10:40 AM
    • 22 Posts
    • 5 Thanks
    selinek
    Hi all. I have gotten some great advice from this site. All of which has given confidence in dealing with my debts. Hopefully this is the right thread if not please direct me. I have sent CCA REQUESTS to my 9 of my creditors early September . Only one is enforceable. One has written to stating can’t find paperwork. Two have sent agreements but one is unenforceable. The others have not responded at all. Which means they are unenforceable too , until they come up with paperwork of course. I have been paying through step change for 9 years. I have spoken to them about stop paying. They’re not willing to stop but willing to negotiate F&F on my behalf. I’m thinking going self managed. Any words of advice would be gratefully taken on board. How have you gone it. Did you cancel you direct debits or write to your DMP. questions questions ! I’ve just been used to peace and quiet and being compliant. Think it’s about time I took back control
    Last edited by selinek; 12-11-2017 at 10:44 AM.
    • Keezing
    • By Keezing 12th Nov 17, 10:52 AM
    • 276 Posts
    • 247 Thanks
    Keezing
    Hi all. I have gotten some great advice from this site. All of which has given confidence in dealing with my debts. Hopefully this is the right thread if not please direct me. I have sent CCA REQUESTS to my 9 of my creditors early September . Only one is enforceable. One has written to stating canít find paperwork. Two have sent agreements but one is unenforceable. The others have not responded at all. Which means they are unenforceable too , until they come up with paperwork of course. I have been paying through step change for 9 years. I have spoken to them about stop paying. Theyíre not willing to stop but willing to negotiate F&F on my behalf. Iím thinking going self managed. Any words of advice would be gratefully taken on board. How have you gone it. Did you cancel you direct debits or write to your DMP. questions questions ! Iíve just been used to peace and quiet and being compliant. Think itís about time I took back control
    Originally posted by selinek
    How you choose to pay your debts is up to you, not Step Change. If Step Change are not acting in your best interests, then itís best to cut them out.

    Personally, I would direct all of my available funds towards the enforceable debt.

    The unenforceable debts can wait. For as long as you choose to make them wait. Forever, if need be.
    • sourcrates
    • By sourcrates 12th Nov 17, 12:08 PM
    • 12,427 Posts
    • 11,833 Thanks
    sourcrates
    Hi all. I have gotten some great advice from this site. All of which has given confidence in dealing with my debts. Hopefully this is the right thread if not please direct me. I have sent CCA REQUESTS to my 9 of my creditors early September . Only one is enforceable. One has written to stating canít find paperwork. Two have sent agreements but one is unenforceable. The others have not responded at all. Which means they are unenforceable too , until they come up with paperwork of course. I have been paying through step change for 9 years. I have spoken to them about stop paying. Theyíre not willing to stop but willing to negotiate F&F on my behalf. Iím thinking going self managed. Any words of advice would be gratefully taken on board. How have you gone it. Did you cancel you direct debits or write to your DMP. questions questions ! Iíve just been used to peace and quiet and being compliant. Think itís about time I took back control
    Originally posted by selinek
    If only one debt is enforceable, you no longer need a DMP.

    Cancel it, just deal with the one remaining debt yourself.

    If any of the others do produce compliant paperwork in the future, look to self management.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • selinek
    • By selinek 12th Nov 17, 1:18 PM
    • 22 Posts
    • 5 Thanks
    selinek
    How you choose to pay your debts is up to you, not Step Change. If Step Change are not acting in your best interests, then itís best to cut them out.

    Personally, I would direct all of my available funds towards the enforceable debt.

    The unenforceable debts can wait. For as long as you choose to make them wait. Forever, if need be.
    Originally posted by Keezing

    Thank you keezing. I was thinking I was being ungrateful because step change had got me out a financial hole. I will sort out tomorrow.
    • selinek
    • By selinek 12th Nov 17, 1:23 PM
    • 22 Posts
    • 5 Thanks
    selinek
    If only one debt is enforceable, you no longer need a DMP.

    Cancel it, just deal with the one remaining debt yourself.

    If any of the others do produce compliant paperwork in the future, look to self management.
    Originally posted by sourcrates
    Thanks to you... Iím more confident in what Iím doing. No doubt I will be sent threatening letters , but Iíll hold my nerve now I know whos in the right
    • Max and sasha
    • By Max and sasha 12th Nov 17, 1:48 PM
    • 67 Posts
    • 46 Thanks
    Max and sasha
    Hi selinek,

    If I were you i would go self dmp we are all here to help you. As for your creditor with the correct paper work i would keep paying the same amount that they currently recieve and put the rest of the money that you were paying your other creditors in your emergency fund or a savings account incase you get a great full and final offer through, that is what I am currently doing , 1 off my creditors is for 13k they were getting nearly £100 per month, I cca,d they in may still not received it yet so I stopped paying them and put the money away for when I get a decent full and final offer through

    Hope this helps

    Max
    • selinek
    • By selinek 12th Nov 17, 2:47 PM
    • 22 Posts
    • 5 Thanks
    selinek
    Hi selinek,

    If I were you i would go self dmp we are all here to help you. As for your creditor with the correct paper work i would keep paying the same amount that they currently recieve and put the rest of the money that you were paying your other creditors in your emergency fund or a savings account incase you get a great full and final offer through, that is what I am currently doing , 1 off my creditors is for 13k they were getting nearly £100 per month, I cca,d they in may still not received it yet so I stopped paying them and put the money away for when I get a decent full and final offer through

    Hope this helps

    Max
    Originally posted by Max and sasha
    Hi Max thatís really to good know. I was reluctant to end my ties to step change for the reason mentioned earlier. I am coming to understand that whilst I am grateful to them I have been scared to change . I feel confident and reassured by the support shown on here to take over my debts.

    The creditors youíre not paying did they get nasty , if you know what I mean ?
    • Max and sasha
    • By Max and sasha 12th Nov 17, 6:09 PM
    • 67 Posts
    • 46 Thanks
    Max and sasha
    Hi selinek

    No not really as what is the worst they can do?, YOU don't have to speak to them on the phone , if they do phone you tell them you will only deal with them through email or letters, without the proper paper work all they can do is ask for you to pay but they can't force you i,e take you to court , so ignore them until they produce a legitimate cca

    Max
    • selinek
    • By selinek 12th Nov 17, 6:53 PM
    • 22 Posts
    • 5 Thanks
    selinek
    Hi selinek

    No not really as what is the worst they can do?, YOU don't have to speak to them on the phone , if they do phone you tell them you will only deal with them through email or letters, without the proper paper work all they can do is ask for you to pay but they can't force you i,e take you to court , so ignore them until they produce a legitimate cca

    Max
    Originally posted by Max and sasha
    Youíre right max . Thank you
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