DMP & Mutual Support Thread - Part 10

timetosayenough · 11 July 2015 at 1:12PM

Hi everyone,

Jon, really pleased all went ok for you. Bet its a huge relief.

One minute I've got my head round what I've got to do and the next I'm doubting everything so quick question.

I've sent letters off to all my creditors explaining the situation and giving them stepchange ref no. The only thing is if I can I want to start DMP in couple of months so I can save emergency fund. Got nothing at mo. In the meantime as far as I understand for those couple of months I send token payments to them. Have I got that right? I got postal orders in the week and I was going to send token payment to credit card people but the young girl said no. So now am a bit confused.

Thanks everyone.

Puzzcat · 11 July 2015 at 5:17PM

timetosayenough wrote: »

Hi everyone,

Jon, really pleased all went ok for you. Bet its a huge relief.

One minute I've got my head round what I've got to do and the next I'm doubting everything so quick question.

I've sent letters off to all my creditors explaining the situation and giving them stepchange ref no. The only thing is if I can I want to start DMP in couple of months so I can save emergency fund. Got nothing at mo. In the meantime as far as I understand for those couple of months I send token payments to them. Have I got that right? I got postal orders in the week and I was going to send token payment to credit card people but the young girl said no. So now am a bit confused.

Thanks everyone.

Hi,
Yes doing token payments is a good idea and you need to tell SC when you want to start the dmp so they can tell the creditors. I posted a template a few pages back that you can send to each creditor each month until the dmp starts. You need to pay a token payment a £1 to each every month is fine. I did 3 months of tokens before starting.
Puzz.x

timetosayenough · 11 July 2015 at 5:34PM

Brilliant, thanks Puzz. Will go and look at template.

FuzzyDF · 11 July 2015 at 9:09PM

Apologies newbies and oldies that I haven't been on here for a while! I'll have a read through most of the posts I've missed out on (promise).

DMP has been running smoothly since it began (have managed to pay £4,000) off in a year. I also landed myself a new job therefore I upped my payment to SC after my review.

My new job has not been so fine and dandy as I have a boss who is making me do the work of 3 people and in short I am not coping with the workload. He is basically setting me up to fail. Have approached HR but they say that there is nothing that they can do. As I am on a six month probationary period he can give me a weeks notice at any time should he be unhappy. He's given me two weeks (how lovely). I'm obviously in a bit of a panic as I won't have a job in a fortnight and I won't be able to fork out £400 to step change. I plan to do some temping in the interim but that doesn't pay too well.

Bit stuck.....would appreciate the kind advice that I normally get on here.

Puzzcat · 11 July 2015 at 10:24PM

FuzzyDF wrote: »

Apologies newbies and oldies that I haven't been on here for a while! I'll have a read through most of the posts I've missed out on (promise).

DMP has been running smoothly since it began (have managed to pay £4,000) off in a year. I also landed myself a new job therefore I upped my payment to SC after my review.

My new job has not been so fine and dandy as I have a boss who is making me do the work of 3 people and in short I am not coping with the workload. He is basically setting me up to fail. Have approached HR but they say that there is nothing that they can do. As I am on a six month probationary period he can give me a weeks notice at any time should he be unhappy. He's given me two weeks (how lovely). I'm obviously in a bit of a panic as I won't have a job in a fortnight and I won't be able to fork out £400 to step change. I plan to do some temping in the interim but that doesn't pay too well.

Bit stuck.....would appreciate the kind advice that I normally get on here.

Hi Fuzzy,
You can only pay what you can afford and if that is back to token payments then so be it.
Puzz.x

Sazzie23 · 12 July 2015 at 12:39AM

Puzzcat wrote: »

Hi Fuzzy,
You can only pay what you can afford and if that is back to token payments then so be it.
Puzz.x

Hi Fuzz, sorry to hear that, bit pants, but at least you won't be stuck in a job you hate with someone sho doesn't appreciate you:mad:

The right job will come along soon, remember you've been making the payments while you can, you are still one one of the good guys and not running away, you are just reducing payments for a while. SC will accept £5 per creditor if that's all you can afford, I thin they suspend the DMP if it's goes below that.

Yes it might push the DFD back for a bit, but bigge r picture, you'll, be happier and might be on for finding an even better job. Is there any point looking at previous job again?

You know where we are

Sazzie23 · 12 July 2015 at 12:46AM

timetosayenough wrote: »

Hi everyone,

Jon, really pleased all went ok for you. Bet its a huge relief.

One minute I've got my head round what I've got to do and the next I'm doubting everything so quick question.

I've sent letters off to all my creditors explaining the situation and giving them stepchange ref no. The only thing is if I can I want to start DMP in couple of months so I can save emergency fund. Got nothing at mo. In the meantime as far as I understand for those couple of months I send token payments to them. Have I got that right? I got postal orders in the week and I was going to send token payment to credit card people but the young girl said no. So now am a bit confused.

Thanks everyone.

Yeah I had that advice once when I went back to tokens, I'm not sure if it's because it costs them to process payments or because they are trying to be kind and make sure you are ok financially (yes really), or is there some deeper financial meaning?

I still did the tokens though, it proves you are still there, still communicating, still intending to pay. Oh and for anyone on tokens, or reducing, the only thiing that's happened to me is that I have had interest cut and defaults on 2 more of my debts, actually I'm now paying more off my HBOS now than I was before I reduced payments!

Despite this, Ilve still got that DFD of 2018 in my mind, I just need to figure out how to get to it.

. That's the whole point of my DMP.

FuzzyDF · 12 July 2015 at 9:38AM

Thank you guys. Wise words and a bit of comfort from you as always. I shall look forward and not back.

Will get onto SC in the morning.

fermi · 12 July 2015 at 9:52AM

It is that time again, so please continue on the:

DMP & Mutual Support Thread - Part 11

Thank you everyone.

DMP & Mutual Support Thread - Part 10

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