DMP & Mutual Support Thread - Part 9

anxious2 · 20 February 2013 at 9:13PM

Enough_Now wrote: »

I am so glad that I have drawn a line under my 'pretend money' days, as I feel happier now than I have in years. No more frivolous spending and I have had money left in my purse right up to payday - absolutely unheard of previously.

This is exactly how I feel! Just not having to meet all those crippling payments this month, and having a realistic budget to live on is amazing. Congrats on the dent you've already made, and enjoy that feeling!

We finally have a bit of confirmation that the message is getting through - OH just logged in to his Halifax online banking, and there is a message by each one of his credit cards, saying that he is now in a regular payment plan! :eek: It also shows the token payments being received. I feel strangely relieved, like the worst is over. I know this whole thing is going to be a long, hard slog, but I can deal with that. It was admitting that we couldn't keep up anymore that I was most afraid of, and we've done that! Onwards and upwards

Time_to_face_the_music · 20 February 2013 at 9:46PM

Enough_Now wrote: »

Hi all

Just had the last of my February statements, so the spreadsheet has been updated. After month 2's payment I have already paid off 3%! I am so happy right now.

I am so glad that I have drawn a line under my 'pretend money' days, as I feel happier now than I have in years. No more frivolous spending and I have had money left in my purse right up to payday - absolutely unheard of previously.

To all of the newbies - when you are feeling unsure or anxious in the early stages, just consider how different you will feel in a short period of time. I have gone from despair to a really positive attitude in a matter of four months.

EN xx

Brilliant inspiring post EN :T

I have preached for a long time that the end of month 2 is the time you really see a difference and here is the proof!

I can remember marking off 2.3% paid on my signature and at month 12, we are over 25% of the way there.

Keep the faith :j

ImJustAPoorBoy · 20 February 2013 at 10:00PM

Hi,

It's good to read the positivity on here.

I've just had my letter from SC to confirm my DMP starts on 1st March, as well as an notice of acceleration email from one of my creditors stating that I am in default of my loan and the full balance is now due.

Seeing as I haven't missed a payment yet this took me a bit by surprise however it does state that interest will not accrue from this point forward, so I'll read this as good news.

I've sent a quick email back to confirm that they have accepted my payment offer submitted by SC.

A couple of not so good things however are that one of my creditors (a payday loan co.) have refused to stop the card payment that is due to go ahead at the end of the month. Should I cancel my debit card that this is linked to so as to stop the money leaving my account and leaving me with nothing?

Also I tried to open a basic account with Barclays this week, only to be told that I couldn't open the account until my DMP is actve and the first payment has gone out of my account. Means I will have to go back in again in a couple of weeks, but hoping that it will not be a problem then.

PoorBoy

Allypops · 21 February 2013 at 1:55AM

ImJustAPoorBoy wrote: »

Hi,

A couple of not so good things however are that one of my creditors (a payday loan co.) have refused to stop the card payment that is due to go ahead at the end of the month. Should I cancel my debit card that this is linked to so as to stop the money leaving my account and leaving me with nothing?

PoorBoy

The delay in Barcl@ys opening your new account means it's a bit more tricky as normally you'd just have your salary paid into the new account so your money would be safe. You are now supposed to be able to cancel recurrent payments with your bank.

This link might help:

http://moneyaware.co.uk/2012/07/how-to-cancel-a-continuous-payment-authority-cpa-on-a-payday-loan/
Allypops

Hopelessly_Hopeful · 21 February 2013 at 7:55AM

Mossop01 wrote: »

Oooo letter from barclays partner finance accepting DMP and freezing interest for 12 months, another one in board.... And breathe

Brilliant news

HHx

Hopelessly_Hopeful · 21 February 2013 at 8:00AM

anxious2 wrote: »

This thread moves fast!!

I'm glad to see some of you starting to get acknowledgement and acceptance letters, we've had nothing yet, although I don't think we will officially miss a payment until the 22nd. I suspect they may start to sit up and take notice at that point! I am a little concerned about this 'freezing interest for 30 days while you seek advice' thing, as we aren't starting our DMP until April. I'm hoping that the fact that Step Change will have contacted them before that will be enough to keep them calm. Obviously we will be making regular token payments until then too.

We have received our login from SC, so I can now view the full horror of our situation at any time of the day or night! :rotfl:

Ally, I'm sorry to hear about the car I hope you can manage to sort something out, I worry about that constantly. As well as our car needing loads of work doing, our boiler is on its way out, our porch windows are rotten and our garden fence is falling down. Just seems like an endless list of worries atm!

Try not to worry, the really important thing about the reference to the 30 day period is not just the interest its that they will not be contacting you. Just make sure you write to them before the end of the 30 days, letting them know you are going to be embarking on a DMP (some clients will not be you see), add a token £1 payment and tell them date your payment goes to SC and that as routine with SC DMPs they will receive their payment on the 25th.

Glad you got your log in, another milestone passed and achieved, celebrate the positives.

HHx

Hopelessly_Hopeful · 21 February 2013 at 8:02AM

Quarry wrote: »

Hello! Thanks for speaking about guilt and blind panic. This is where I'm at. Bless you also for the positive stuff.
I haven't read any other posts you might have made, so don't know how you got into debt. I had a good income and no problem servicing my debts until redundancy and ill health took over. I still feel deeply guilty and shamed that I cannot pay my debts and struggle to read comments from forum contributors who refer to creditors as 'sharks'. I shall watch your progress with interest.
Thanks.
Q.

Hi Quarry and welcome. It really is worth starting at the beinning of the threads when you have the time as you will learn so much about a typical journey.

HHx

Hopelessly_Hopeful · 21 February 2013 at 8:04AM

mill1980 wrote: »

so after being told yesterday I would need to wait for 'pack' to come in the post and I could only provided information by paper copy through the post i.e. couldn't email or fax the stuff they wanted to know over to them which being realistic would take probably about 10 days bearing mind I have a buyer waiting to know if she can buy my flat. I phoned back today and kicked up a fussed at the delays and obstruction etc etc and managed to get someone who stated I now could fax over the information they wanted in whatever format which includes:

best price certificate, marketing report and property comparison report from the estate agents and;
proposed budget statement (if I sell the house how much is my income/expenditure, 3 months pay slips & 3 months bank statement and a copy of a tenancy agreement for my current property.........

all before they can make a decision. Obviously they want to be sure they get the best price (which the estate agent is happy we have) and that I can at the moment make an agreement to pay back the £45k shortfall (which at the moment I can make them a offer but intend to take into a trust deed further down the line) this agreement will only be about £250 a month so not sure how they will feel about this. however I don't agree to them getting my bank statements not sure what legal basis they have for requesting these?? does anyone know? they can have my pay slips to prove income but I don't see why them seeing every transaction I make will support their decision. Does anyone know is there is a legal obligation to give them my bank statements?

They seem to create as many hurdles as they can very frustrating just as well my buyer is happy to wait for an answer she could of easily walked away by now.

Am very sorry you are being saddled with this. I doubt there is a legal basis, why dont you ask them that question in writing?!

Have you considered going BC?

HHx

Hopelessly_Hopeful · 21 February 2013 at 8:05AM

Enough_Now wrote: »

Hi all

Just had the last of my February statements, so the spreadsheet has been updated. After month 2's payment I have already paid off 3%! I am so happy right now.

I am so glad that I have drawn a line under my 'pretend money' days, as I feel happier now than I have in years. No more frivolous spending and I have had money left in my purse right up to payday - absolutely unheard of previously.

To all of the newbies - when you are feeling unsure or anxious in the early stages, just consider how different you will feel in a short period of time. I have gone from despair to a really positive attitude in a matter of four months.

EN xx

Fantastic news:T

HHx

Hopelessly_Hopeful · 21 February 2013 at 8:07AM

anxious2 wrote: »

This is exactly how I feel! Just not having to meet all those crippling payments this month, and having a realistic budget to live on is amazing. Congrats on the dent you've already made, and enjoy that feeling!

We finally have a bit of confirmation that the message is getting through - OH just logged in to his Halifax online banking, and there is a message by each one of his credit cards, saying that he is now in a regular payment plan! :eek: It also shows the token payments being received. I feel strangely relieved, like the worst is over. I know this whole thing is going to be a long, hard slog, but I can deal with that. It was admitting that we couldn't keep up anymore that I was most afraid of, and we've done that! Onwards and upwards

Another milestone!:T Fabulous.

HHx

DMP & Mutual Support Thread - Part 9

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