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  • FIRST POST
    • fermi
    • By fermi 10th Jul 15, 7:32 AM
    • 39,311Posts
    • 47,134Thanks
    fermi
    DMP & Mutual Support Thread - Part 11
    • #1
    • 10th Jul 15, 7:32 AM
    DMP & Mutual Support Thread - Part 11 10th Jul 15 at 7:32 AM
    Welcome to the DMP mutual support thread.

    Here you can find help in starting and running your DMP, self managed, Stepchange, Payplan and any other DMP all welcome here. 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 a non judgemental and all questions welcome.
    Originally posted by Sazzie23
    Once again the old thread was getting a bit large, so here is a fresh thread.

    The previous thread can be found here: Click ---> DMP & Mutual Support Thread - Part 10

    Or click here for the last page of posts on the old thread. ---> Last Page

    Sazzie23's fantastic post of the month winning post from the previous thread is repeated below.

    Best wishes with the DMPs everyone.
    Last edited by fermi; 12-07-2015 at 9:50 AM.
    I'm a Board Guide on the Debt-Free Wannabe, Bankruptcy, 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

    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
Page 2
    • Sazzie23
    • By Sazzie23 14th Jul 15, 3:54 AM
    • 2,612 Posts
    • 10,485 Thanks
    Sazzie23
    Hi


    Now one year into my DMP with SC, all going well now under the 10K marker, but I still have another 3 years to go - is feeling this disheartened all par for the course ? Its so easy to slip back into my old thinking, I am coveting a dress and put it in my basket online last week, I have absolutely no means of being able to afford this dress. But still login everyday to my basket and look at the dress. I work 2 jobs 7 days a week to fund my son through college as well, sometimes I think I deserve the dress then I remember deserving the dress got me into this pickle in the first place !!!!


    It was all the mentioning of BC that prompted my reply, I have had a few run-ins with them but nothing out of the ordinary and I too got a we are passing your debt onto PRA on Friday, wonder what prompted their change of heart......
    Originally posted by NewYorkJetsFan1
    Hi NewYorkJets

    I think the DMP wobble you are having is perfectly normal, as new things become a distant memory and the DFD still looms far away in the distance is starts to get really tough. I understand you want the dress, but do you actually need it? What will happen if you buy it, can't pay your bills, eat, pay son's college bills...

    Is there any small thing you could treat yourself to, a cake, a bottle of wine with a mate, a lotto ticket maybe, sometimes you need to build small treats into your budget to get you through the tough years.
    2 jobs 7 days a week and no treats sounds very hard, I hope your son is appreciating the work you do to get him through college.

    jremember when your DFD gets closer, it will get easier (thats what I hear anyway)
    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.
    • Sazzie23
    • By Sazzie23 14th Jul 15, 3:56 AM
    • 2,612 Posts
    • 10,485 Thanks
    Sazzie23
    Wont make a shred of difference, mail to large companies is delivered in bulk, so wont usually be signed for anyway.
    Registered mail is "supposed" to be delivered separately, but usually ends up with the bulk mail (ex PO worker).
    Originally posted by sourcrates
    I'd agree but I found you do seem to get a faster response with a recorded letter, so give it a couple of extra weeks before you send the follow up complaints.
    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.
    • Sazzie23
    • By Sazzie23 14th Jul 15, 4:01 AM
    • 2,612 Posts
    • 10,485 Thanks
    Sazzie23
    ooh I have been off line for a couple of weeks and now there's a whole shiny new thread and loads of new people - hello and welcome to the most useful internet thingy I have ever found! hello to all the regular wise df people and dfw people. Sounds like everyone is doing really well. Proud to be part of this community.

    It's always worth trying to get interest stopped - I have recently (after 2 years) got interest stopped on most of my debts - better late than never! Even though it is because my income has gone down it is still very welcome.

    Keep trucking on people!
    Originally posted by Karen777
    Yeah great news, mine is down at 0% now too, finally I do worry a bit that they might reinstate interest as my payments increase again (hopefully soon but probably in the new year now). Anyone any experience of this?

    I've had a letter over the weekend from Barclaycard saying whilst they agree to the payment plan I am following and sticking too, it falls below the minimum requirements. They are giving me til the 4th August to pay the arrears or will issue a default and my account will be passed on to a collection agency.

    Guessing I want this to happen and it's not as scary as it sounds?

    Please can someone reassure me x
    Originally posted by lewpster
    . Scary sounding but a paper exercise in reality, and they may or may not actually default you

    Must be sending them out en mass as i got one too!!
    Originally posted by lewpster
    keep your eyes on Noddle to see if they do actually default.
    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.
    • Sazzie23
    • By Sazzie23 14th Jul 15, 4:14 AM
    • 2,612 Posts
    • 10,485 Thanks
    Sazzie23
    For anyone a fee paid DMP might be worth reading this article

    https://www.fca.org.uk/news/fca-warns-clients-of-three-debt-management-firms-to-review-their-debts

    If you are affected by this, consider switching to Stepchange, pay pal or even better, going self managed, let us know if you need help
    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.
    • NewcastlePaul
    • By NewcastlePaul 14th Jul 15, 10:44 AM
    • 141 Posts
    • 330 Thanks
    NewcastlePaul
    Morning all.
    Liking the brand new thread.

    Been a while.
    PPI journey is just about at an end and am now trying the F&F settlement thread. It's slow but thats to be expected i guess.
    Was looking at a 20 year DMP stretch but after halfway its now looking like a max of 3 years left !!!

    Hope you're all well.

    If anyone new reading this. It does get easier.
    Don't bottle things up or keep them to yourself.
    Talk to someone. The relief once you have faced up and shared is immense
    31st December 2004 - Debt was £128,596.72
    1st October 2016 - Debt Free
    12 years of Stepchange + PPI +F&F
    http://forums.moneysavingexpert.com/showthread.php?t=4862915
    • sexyshark
    • By sexyshark 14th Jul 15, 2:31 PM
    • 289 Posts
    • 1,079 Thanks
    sexyshark
    I got a default from barclaycard last month and the irony is after 5 more payments it will be gone after paying them on an arrangement for the last 10 years or so
    Sealed pot member 095 SPC No 7 £578.32
    sealed pot No 8 Target £750 TOTAL £1059.86
    sealed pot no 9 Target £1200 TOTAL £1073.38
    sealed pot no 10 Target £1200 TOTAL £1209
    sealed pot No 11 target £1250 total £TBC
    • Puzzcat
    • By Puzzcat 14th Jul 15, 4:14 PM
    • 3,150 Posts
    • 16,256 Thanks
    Puzzcat
    I got a default from barclaycard last month and the irony is after 5 more payments it will be gone after paying them on an arrangement for the last 10 years or so
    Originally posted by sexyshark
    Complain!!! They should backdate it.
    Puzz.x
    Christmas 2018 £0 cash/£17 vouchers
    I love my dmp started in Nov 13 with SC 41% paid
    £60062/35473.49 - 4k UE
    Pot Of Gold - £470.00
    MY DIARY -
    http://forums.moneysavingexpert.com/showthread.php?t=4768685
  • emsiedoodle
    It’s worth getting in touch. I posted something similar on here last week... Halifax defaulted me over 3 1/2 years into our plan with SC. I wrote to them (via secure message) on Sunday and tonight they’ve called me to say they’ve moved the default date back to 6 months into my DMP and refunded all the interest and charges!!! I could have cried with joy. Its halved my outstanding debt with them and means instead of my default being on the account until 2020 it’ll now come off in 2017! Now just keeping my fingers crossed for an equally positive reply from Barclaycard after my letter asking for a backdated default rather than AR markers, but I’m not holding my breath.
    • Sazzie23
    • By Sazzie23 15th Jul 15, 5:13 AM
    • 2,612 Posts
    • 10,485 Thanks
    Sazzie23
    It’s worth getting in touch. I posted something similar on here last week... Halifax defaulted me over 3 1/2 years into our plan with SC. I wrote to them (via secure message) on Sunday and tonight they’ve called me to say they’ve moved the default date back to 6 months into my DMP and refunded all the interest and charges!!! I could have cried with joy. Its halved my outstanding debt with them and means instead of my default being on the account until 2020 it’ll now come off in 2017! Now just keeping my fingers crossed for an equally positive reply from Barclaycard after my letter asking for a backdated default rather than AR markers, but I’m not holding my breath.
    Originally posted by emsiedoodle
    Hi Emsie,

    Could have cried with joy for you/with you, fantastic news. Presumably it's brought your DFD closer as well.

    Fingers crossed for BC to do the same.
    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.
    • lewpster
    • By lewpster 15th Jul 15, 6:59 AM
    • 1,651 Posts
    • 7,029 Thanks
    lewpster
    I am due to get a lump sum of around £40,000 in a few months when my house sells as I am in the process of seperating from my ex.

    I am on a DMP paying £175 though Stepchange to 6 creditors with £25k owed My current DFD is like July 2027 A solicitor says I should be asking my ex for something towards the debts as they were largely incurred buying food, clothes etc as I was too scared to ask him. I would just rather get them sorted myself as can't be going down that road as it's too much hassle.

    My question is, would you ask for F&F settlements when the house sells(I will have been in DMP almost a year), up my monthly payments and put the money away or just pay them all off.

    I can't afford to buy so not sure what I should do - clean slate or just keep going? xx
    • blisteringblue
    • By blisteringblue 15th Jul 15, 11:23 AM
    • 1,040 Posts
    • 1,892 Thanks
    blisteringblue
    Hi Lewpster, definitely F&F payments. I know some will say you now have the money so pay them off, but your credit rating is already shot, why pay off more than you need to? Don't tell them how much you have though, always word it something like a family member is prepared to lend you a small sum etc ....

    Keep as much of your payout to move on. However I do agree with your solicitor you should expect your ex to contribute to the debt payments? Really depends how much hassle this will bring though I guess?
    • Sazzie23
    • By Sazzie23 16th Jul 15, 2:57 AM
    • 2,612 Posts
    • 10,485 Thanks
    Sazzie23
    I am due to get a lump sum of around £40,000 in a few months when my house sells as I am in the process of seperating from my ex.

    I am on a DMP paying £175 though Stepchange to 6 creditors with £25k owed My current DFD is like July 2027 A solicitor says I should be asking my ex for something towards the debts as they were largely incurred buying food, clothes etc as I was too scared to ask him. I would just rather get them sorted myself as can't be going down that road as it's too much hassle.

    My question is, would you ask for F&F settlements when the house sells(I will have been in DMP almost a year), up my monthly payments and put the money away or just pay them all off.

    I can't afford to buy so not sure what I should do - clean slate or just keep going? xx
    Originally posted by lewpster
    Hey Lewpster, sorry to hear the relationship has ended, but sounds like it might be a good thing for you?

    Where will you live, and how will you pay for this? Think you should hold off doing anything until you've decided what to do, I suspect you wouldn't be able to get a new mortgage under the current conditions, but who knows til you try? Be sad if you need that money and it's gone already.

    Do you pay any interest on your debts? I'd target those with f&f soecifically, which might seem unfair to the others but life is unfair!

    Re claiming from the ex, the solicitor has a duty to tell you what is fair, if you choose not to use that option it's you're right but obviously you can't then go back to the solicitor to say 'you never told me I should claim his share back'.
    If you decide to go f&f, then you might have in your mind that the amount you 'reduce'the debt by, would be equivalent to his share, so then you are straight and can move on. If you can't think like that then possibly in the future you'll wish you had tried to claim against him.

    Not sure that answers your question but it's my opinions on the matter, oh and SC can manage your f&f but I'd be inclined to deal direct with creditors, just tell SC the story BB suggests if they question it.
    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.
    • Sazzie23
    • By Sazzie23 16th Jul 15, 5:32 AM
    • 2,612 Posts
    • 10,485 Thanks
    Sazzie23
    Looking at the thread at the moment, there is rather too much of my input so far, so please chipe in to redress the balance !

    Anyway as I couldn't sleep, thought I'd just check a few figures on the spreadsheet and discovered despite everything I've managed to drop below 60% outstanding meaning I'm in the 50something % bracket which is just amazing, halfway is in sight ��
    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.
    • Time to face the music
    • By Time to face the music 16th Jul 15, 5:49 AM
    • 5,406 Posts
    • 38,276 Thanks
    Time to face the music
    Looking at the thread at the moment, there is rather too much of my input so far, so please chipe in to redress the balance !

    Anyway as I couldn't sleep, thought I'd just check a few figures on the spreadsheet and discovered despite everything I've managed to drop below 60% outstanding meaning I'm in the 50something % bracket which is just amazing, halfway is in sight ��
    Originally posted by Sazzie23
    Sazzie, your input is invaluable, there could never be too much from you. Maybe some people haven't found the new thread yet and will appear soon.

    Fantastic news on the under 60% milestone!

    TTFTM x
    LBM 10/1/12 ~ DFW Start 6/2/12: £82,344 ~ Now Zero
    Debt free 17th April 2015
    Eternal thanks to the DMP & Mutual Support (no.439) and Payment a Day Threads
    Mortgage free 3rd July 2014 - Grateful thanks to the 2013/14 MFW threads
    "Debt is normal. Be weird!" Dave Ramsey
    Proud to have dealt with our debt
    • lewpster
    • By lewpster 16th Jul 15, 9:04 AM
    • 1,651 Posts
    • 7,029 Thanks
    lewpster
    Thanks I won't be able to get another mortgage. I am renting privately. My lovely Nanny kindly paid my deposit and first month's rent and just hoping my tax credits are sorted by the end of July as my rent is due 3 days before I get paid.

    Edited to say no the 6 cards are all 0% thankfully so paid off around £1,200 in 8 months but it's a start

    Scarily enough once I am sorted, I am better off alone!

    I feel happier already and a sense of relief even if I am left with a big dent in my credit record but the only way is up now!

    I've just passed my OU Level 2 module I barely revised for so am chuffed to bits and it's given me a massive lift.

    It's a long road ahead to a debt free future, but this is the start of a better future for my children and I x
    • timetosayenough
    • By timetosayenough 16th Jul 15, 12:32 PM
    • 77 Posts
    • 167 Thanks
    timetosayenough
    Hi everyone,

    Hope you're all well. Good news is that my pension payment went into new account this morning. YAY!
    Rang the bank yesterday, it was a right problem getting through to right department but anyway informed that I was in discussion with Stepchange and wouldn't be able to pay my loan repayment this month. Also told him about overdraft. He went away and came back and said they are putting me on a CUC. Any ideas what that is?
    He did say about the 30 days grace. I asked him about cancelling direct debit and he said not to but I did anyway cos if the money comes out of my account it will put me over overdraft limit which will mean more fees. Am sending my forms off to Stepchange today. Wanted to make sure payment went into new bank first.


    Funny thing, got an email from the loan provider who now know I'm going on a DMP asking if I would like a loan. Don't understand that because terms and conditions say if you have one loan with them you can't have another one. Don't worry ignored it.
    £12,432 - debt free February 2018
    • timetosayenough
    • By timetosayenough 16th Jul 15, 12:33 PM
    • 77 Posts
    • 167 Thanks
    timetosayenough
    Oops forgot to say Sazzie your input is certainly valuable. I've learnt so much from you and others so thank you.
    £12,432 - debt free February 2018
    • kb_soma
    • By kb_soma 16th Jul 15, 1:26 PM
    • 255 Posts
    • 1,981 Thanks
    kb_soma
    Hello everyone, sorry I've been absent - I didn't see the new thread?Just caught up on the last one. Looks like everyone is doing well and I can see some really positive things have been happening, well done everyone!

    KID77, well done one getting the plan set up!

    timetosayenough, looks like everything is moving along.

    Jon81, well done for talking to OH about DMP. I'm so glad you've got the support that you need.

    Sazzie great post! Very inspirational.
    LBM: NOVEMBER 2011 || debt free date:30/06/15 || The Fighting Debt Army: #442 || Frugal Living Challenge 2015 || August 2015 Grocery Challenge £38.08/£100 || September 2015 Grocery Challenge £30/100
    • kb_soma
    • By kb_soma 16th Jul 15, 1:30 PM
    • 255 Posts
    • 1,981 Thanks
    kb_soma
    Hi


    Now one year into my DMP with SC, all going well now under the 10K marker, but I still have another 3 years to go - is feeling this disheartened all par for the course ? Its so easy to slip back into my old thinking, .
    Originally posted by NewYorkJetsFan1
    Hi, and welcome to the thread, I found this completely normal. I would go through phases of feeling so sorry for myself and believing that I was so deprived. You need to remember that you are doing something great, and, hey! it's okay to dream about that special dress - If you really want that dress, you could set yourself a savings goal and save up for that dress, like cutting back on hair cuts or other luxuries to save up for it, and at the end of it when you've saved up that money, you may even decide to put it towards your debt instead.

    Remember, you are strong, and that occasionally you need to give yourself a pat on the back for getting this far.

    Good luck x
    LBM: NOVEMBER 2011 || debt free date:30/06/15 || The Fighting Debt Army: #442 || Frugal Living Challenge 2015 || August 2015 Grocery Challenge £38.08/£100 || September 2015 Grocery Challenge £30/100
    • kb_soma
    • By kb_soma 16th Jul 15, 1:35 PM
    • 255 Posts
    • 1,981 Thanks
    kb_soma
    Looking at the thread at the moment, there is rather too much of my input so far, so please chipe in to redress the balance !

    Anyway as I couldn't sleep, thought I'd just check a few figures on the spreadsheet and discovered despite everything I've managed to drop below 60% outstanding meaning I'm in the 50something % bracket which is just amazing, halfway is in sight ��
    Originally posted by Sazzie23
    Yay! I remember when I was 50% paid off, you're nearly half way there and will really start to see the balances going down.

    GIVE YOURSELF A MASSIVE PAT ON THE BACK - YOU DESERVE IT!!!

    Well done you!!!
    LBM: NOVEMBER 2011 || debt free date:30/06/15 || The Fighting Debt Army: #442 || Frugal Living Challenge 2015 || August 2015 Grocery Challenge £38.08/£100 || September 2015 Grocery Challenge £30/100
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