DMP & Mutual Support Thread - Part 11

January2015 · 16 February 2017 at 10:09AM

motivated wrote: »

January2015
One is a general cash card and the other is a top up debit card. This helps as we only put on the top up card what we can afford and this is used for shopping. The other is for withdrawing cash so we are able to keep things separate. If there's no money on the top up card we can't buy it simples

Oooh...I've never heard of a top up debit card. Can you post a link to the bank/info page or just let me know which bank it is.

This sounds like something I might like :beer:

motivated · 16 February 2017 at 10:31AM

Hi January

I applied online it was very easy. I had email confirmation within hours that our account was open. I then applied through our account for an esaver account and that was also open straight away.

Cards arrived within a few days too.

http://www.santander.co.uk/uk/current-accounts/basic-current-account
M

January2015 · 16 February 2017 at 10:42AM

Morning everyone

Well I've decided to take the plunge and try the new YNAB online version. I've been a YNAB classic user since the beginning of my DMP. I honestly believe we would not have done as well as we have if we hadn't got YNAB at the start of the process. YNAB just helped us focus on what money was allocated to what. It didn't matter what the bank balance said - it was how much was allocated against categories in YNAB.

I've purchased the classic YNAB - one off fee. Done, dusted, no more payments. However, eventually it will no longer be supported and there are new features in the online version. I've decided to trial it for one month and see how it goes. I think I did try it when it first came out and couldn't get my head round the difference between classic and new versions. Anyway - I'm giving it a go. I started last night and so far I'm loving it. I'm going to run both versions for one month and see how it goes.

Debtfreehopeful · 16 February 2017 at 11:11AM

I've had a letter from Tesco asking me to sign to authorise them to deal with Stepchange. I have 28 days to return it otherwise my account will be defaulted. I'm tempted not to return it to get my account defaulted- though I will be making my first SC payment in April- any thoughts please? Thank you.

sourcrates · 16 February 2017 at 12:08PM

Debtfreehopeful wrote: »

I've had a letter from Tesco asking me to sign to authorise them to deal with Stepchange. I have 28 days to return it otherwise my account will be defaulted. I'm tempted not to return it to get my account defaulted- though I will be making my first SC payment in April- any thoughts please? Thank you.

Let it default, don't sign anything.

Creditors eh !!!!

[Deleted User] · 16 February 2017 at 12:12PM

Debtfreehopeful wrote: »

I've had a letter from Tesco asking me to sign to authorise them to deal with Stepchange. I have 28 days to return it otherwise my account will be defaulted. I'm tempted not to return it to get my account defaulted- though I will be making my first SC payment in April- any thoughts please? Thank you.

I've never heard of having to sign anything from banks to allow them to deal with SC. Tesco Bank is one of my creditors and I certainly never had to sign anything from them. That was back in 2013 when I set my DMP up so requirements might be different now though;).

Defaults are good and what everyone on here recommends :j

I'm sure someone else more knowledgeable than me will be along later to help you. Good luck:beer:

Edit: As usual, someone always beats me to it when answering people's queries:rotfl:. Cheers, sourcrates:beer:

January2015 · 16 February 2017 at 1:01PM

Debtfreehopeful wrote: »

I've had a letter from Tesco asking me to sign to authorise them to deal with Stepchange. I have 28 days to return it otherwise my account will be defaulted. I'm tempted not to return it to get my account defaulted- though I will be making my first SC payment in April- any thoughts please? Thank you.

I agree with the others who've already commented on this. Don't sign it.

Anyway - you have signed an authority for Stepchange to deal with your creditors. One authority which covers all your debts. This form of authority has already been agreed with lenders - who actually fund SC anyway. Tesco are playing silly beggars:mad:

System · 16 February 2017 at 3:23PM

sourcrates wrote: »

Debts are sold on in bulk, a few thousand accounts at a time.

It's all down to there timescales, and can be impossible to predict.

Don't worry about it, it's a well trodden path.

OK thanks - so do I keep paying token payments once they have defaulted, or just leave it be until I hear it has been sold on?

System · 16 February 2017 at 3:34PM

Puzzcat wrote: »

Hi,
Sorry got to ask what do you mean about parents wanting you to buy a House?
Puzz

Wish I could figure out how you clever people sometimes respond to two posts in one message!

Hi Puzz
My folks are locked into the mentality that you "must" own your own home.
I just know my folks at some point will be like - "why are you hanging around - why don't you buy a house now?" and it will be because we can't get a mortgage - but I am too chicken to tell them!!

blisteringblue · 16 February 2017 at 7:28PM

January2015 wrote: »

I've purchased the classic YNAB - one off fee. Done, dusted, no more payments. However, eventually it will no longer be supported and there are new features in the online version. I've decided to trial it for one month and see how it goes. I think I did try it when it first came out and couldn't get my head round the difference between classic and new versions. Anyway - I'm giving it a go. I started last night and so far I'm loving it. I'm going to run both versions for one month and see how it goes.

Hi Jan, I did this back in November and planned on running both. I bet you don't, I hadn't been back to Classic at all and I finally uninstalled it last month.

You can't forecast like you could with classic because you can only allocate the money the day it is available but other than that the new version is brilliant. Reconciling is a doddle and funnily my age of money never gets very high because I have to spend it all, but those days will come after the DMP

ramblehan wrote: »

Wish I could figure out how you clever people sometimes respond to two posts in one message!

Simply combine posts with 2 sets of

or the multiquote button does it for you

DMP & Mutual Support Thread - Part 11

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