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  • FIRST POST
    • fermi
    • By fermi 10th Jul 15, 7:32 AM
    • 39,173Posts
    • 46,997Thanks
    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'm a volunteer to help the boards run smoothly, and I can move and merge threads there. 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 188
    • NewcastlePaul
    • By NewcastlePaul 8th Oct 16, 3:41 PM
    • 142 Posts
    • 329 Thanks
    NewcastlePaul
    Hello
    Can anyone let me know if they have moved away from Stepchange and gone self managed?
    If so how did you do it and did you have any problems? I've been with SC for over 4 years who have helped me enormously but I am in the process of trying to settle 3 of my debts so have cca'd them and 2 have said accounts are on hold at the moment. SC have still paid them and said they will continue to pay them unless they are settled even though I've asked them not to as I have letters from the company saying accounts suspended. Also if I agree f and f's with those 3 the DMP may not be for me as I'm giving preferential treatment. I already know this but figured it's up to me to try and help myself and if I can settle the debts for a low amount as they can't provide me with the paperwork then that's what I'm going to do.
    Anyone done this please who can reassure me it will be fine?
    Thanks
    Originally posted by Daisypop


    It should be fine.
    Although I found I never had cause to leave Stepchange.
    When I was doing F&F settlement offers with any of my creditors. As soon as they cashed the cheque I went online onto my DMP and changed the balance to £0.00
    The amount I had paid that Creditor was then divided amongst the rest.
    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
    • Futuredebtfreecouple
    • By Futuredebtfreecouple 9th Oct 16, 10:42 PM
    • 5 Posts
    • 9 Thanks
    Futuredebtfreecouple
    Interesting
    Hi Newcastle Paul,

    So are you saying that you made a F&F settlement to one of your creditors directly and just changed the balance online to 0 without actually speaking to StepChange? And then Stepchange just spread the amount you were paying differently so others were getting more?

    I ask as we have five overdrafts on our DMP which we've set up. However, three of them are only about £250 each. Two with lloyds and one with Halifax. Im wondering if it is worth getting in touch with them in a few weeks to find out a F&F figure?

    But I thought step change said all creditors need to be treated equally so you couldn't do this? Will the other creditors find out and get cross as some have had preferential treatment?

    Thanks,

    Futuredebtfreecouple
    • carbootcrazy
    • By carbootcrazy 9th Oct 16, 10:56 PM
    • 3,518 Posts
    • 19,858 Thanks
    carbootcrazy
    Hi Newcastle Paul,

    So are you saying that you made a F&F settlement to one of your creditors directly and just changed the balance online to 0 without actually speaking to StepChange? And then Stepchange just spread the amount you were paying differently so others were getting more?

    I ask as we have five overdrafts on our DMP which we've set up. However, three of them are only about £250 each. Two with lloyds and one with Halifax. Im wondering if it is worth getting in touch with them in a few weeks to find out a F&F figure?

    But I thought step change said all creditors need to be treated equally so you couldn't do this? Will the other creditors find out and get cross as some have had preferential treatment?

    Thanks,

    Futuredebtfreecouple
    Originally posted by Futuredebtfreecouple
    I did it a few months ago with my smallest debt, an overdraft with Santander, of under £300. I didn't bother with a F&F offer or anything, I just paid it off. I phoned Santander to get the exact balance and then paid over the phone with my debit card. I wanted this particular debt gone and don't plan paying off any others mainly because they are for much bigger amounts and I don't have the money to do it


    I adjusted my balance to zero for that account on SC like NewcastlePaul mentioned. My SC review was due shortly after so I told the woman there what I'd done. She said it was OK just the once but not to do it again as they don't approve of giving any creditor preferential treatment.
    Last edited by carbootcrazy; 09-10-2016 at 10:59 PM.
    Make £10 A Day Challenge 2017. Jan-Mar: £922.23. Apr: £171.54
    3-6 Months Emergency Fund Challenge #12: £1200.00/£3000. This is such hard going but I will do it.

    Original Debt: £56804 (@ LBM 02/13). Paid : £31743. Balance: £25061
    • NewcastlePaul
    • By NewcastlePaul 10th Oct 16, 1:22 PM
    • 142 Posts
    • 329 Thanks
    NewcastlePaul
    Hi Newcastle Paul,

    So are you saying that you made a F&F settlement to one of your creditors directly and just changed the balance online to 0 without actually speaking to StepChange? And then Stepchange just spread the amount you were paying differently so others were getting more?

    I ask as we have five overdrafts on our DMP which we've set up. However, three of them are only about £250 each. Two with lloyds and one with Halifax. Im wondering if it is worth getting in touch with them in a few weeks to find out a F&F figure?

    But I thought step change said all creditors need to be treated equally so you couldn't do this? Will the other creditors find out and get cross as some have had preferential treatment?

    Thanks,

    Futuredebtfreecouple
    Originally posted by Futuredebtfreecouple


    Because I had such a high debt over a long period of time I had paid a lot of PPI. I was fortunate enough to be able to claim it all back (details in the link in my signature)


    I then contacted Stepchange and said I was going to use this money to offer Full & Final settlements to all of my creditors.
    I explained that I would be writing to them all and offering 20%
    and then each month keep reoffering but adding 10%) to the balance. As that was treating all creditors fairly and the same they were happy with it


    By the time I had got to 60% there were only 2 creditors left.
    the 2nd settled for 70% and the outstanding creditor (Idem) said it was the policy not to offer a F&F figure and they were happy to keep receiving DMP payment each month.


    Each time I got a settlement figure I would change the balance to 0 and also explain that they had been offered the same.
    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
    • Sazzie23
    • By Sazzie23 10th Oct 16, 10:01 PM
    • 2,580 Posts
    • 10,438 Thanks
    Sazzie23
    Hi Newcastle Paul,

    So are you saying that you made a F&F settlement to one of your creditors directly and just changed the balance online to 0 without actually speaking to StepChange? And then Stepchange just spread the amount you were paying differently so others were getting more?

    I ask as we have five overdrafts on our DMP which we've set up. However, three of them are only about £250 each. Two with lloyds and one with Halifax. Im wondering if it is worth getting in touch with them in a few weeks to find out a F&F figure?

    But I thought step change said all creditors need to be treated equally so you couldn't do this? Will the other creditors find out and get cross as some have had preferential treatment?

    Thanks,

    Futuredebtfreecouple
    Originally posted by Futuredebtfreecouple
    I had a PPI and paid off our joint account overdraft. Actually it happened by mistake rather than by design but that's another story. Did me a favour as it was our only joint debt. Anyway SC asked me about it and I told them as the PPI was from a joint loan it had to go into the joint account, and they were happy about it.

    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.
    • NewcastlePaul
    • By NewcastlePaul 11th Oct 16, 1:47 PM
    • 142 Posts
    • 329 Thanks
    NewcastlePaul
    Hi Newcastle Paul,

    So are you saying that you made a F&F settlement to one of your creditors directly and just changed the balance online to 0 without actually speaking to StepChange? And then Stepchange just spread the amount you were paying differently so others were getting more?

    I ask as we have five overdrafts on our DMP which we've set up. However, three of them are only about £250 each. Two with lloyds and one with Halifax. Im wondering if it is worth getting in touch with them in a few weeks to find out a F&F figure?

    But I thought step change said all creditors need to be treated equally so you couldn't do this? Will the other creditors find out and get cross as some have had preferential treatment?

    Thanks,

    Futuredebtfreecouple
    Originally posted by Futuredebtfreecouple


    You can either the same % to all or say you did.
    You then tell SC that the debt is now 0.
    They wont know what you paid to get it to that.


    I went by the book but you have to do what is best by you and your family
    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
    • lumpyspaceprincess
    • By lumpyspaceprincess 12th Oct 16, 1:11 PM
    • 112 Posts
    • 263 Thanks
    lumpyspaceprincess
    Today my Argos account should have been paid off, so I went to check online and bask in glee etc, and they've added a £12 late payment fee due to SC's payment falling over the weekend and not arriving until Monday. That's really annoyed me, how is that fair? I've sent a message to SC I hope they can query & get a refund.
    UPDATED 26/11/16
    ¤ DMP TOTAL: £24516 ¤ DMP NOW: £6,524¤
    ¤ DFD: 28/09/18 28/01/18 28/10/2017 ¤
    ¤ DEBTS CLEAR: 2/6 ¤

    • Sazzie23
    • By Sazzie23 13th Oct 16, 10:33 AM
    • 2,580 Posts
    • 10,438 Thanks
    Sazzie23
    Today my Argos account should have been paid off, so I went to check online and bask in glee etc, and they've added a £12 late payment fee due to SC's payment falling over the weekend and not arriving until Monday. That's really annoyed me, how is that fair? I've sent a message to SC I hope they can query & get a refund.
    Originally posted by lumpyspaceprincess
    Hi LumpySp

    Have you tried ringing Argos and asking for a refund ? Likely they'll do it as reclaiming the money ip will probably cost them more than waiving the fee. Quote I just heard in rip off Britain is to say to the call handler, 'can you understand how I'm feeling?'. Good luck
    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.
    • blisteringblue
    • By blisteringblue 13th Oct 16, 11:54 AM
    • 1,027 Posts
    • 1,870 Thanks
    blisteringblue
    Grrr, my work messed up my expenses this month and ended up 4 days late. Cue a begging phone call to the bank to not bounce stuff !! Luckily they were OK about it. Need to get my emergency back up as don't like cutting it fine. Maybe a couple of months without DMP payments
    Debt is not a crime
    Estimated DFD - An Optimistic DEC 2018
    Self-Managed DMP 48.2% Paid
    • make_the_change
    • By make_the_change 13th Oct 16, 11:59 AM
    • 365 Posts
    • 2,212 Thanks
    make_the_change
    To offer f&f settlements does the debt need to have been sold on?
    DMP Started June 2016
    • Puzzcat
    • By Puzzcat 13th Oct 16, 12:04 PM
    • 3,856 Posts
    • 16,020 Thanks
    Puzzcat
    To offer f&f settlements does the debt need to have been sold on?
    Originally posted by make_the_change
    I believe to get a good deal yes..
    Christmas 2017 £200 cash/£61 vouchers
    I love my dmp started in Nov 13 with SC 33% paid
    Going Self Managed March 2016
    Pot Of Gold - £385.00
    MY DIARY -
    http://forums.moneysavingexpert.com/showthread.php?t=4768685
    • lumpyspaceprincess
    • By lumpyspaceprincess 14th Oct 16, 10:53 AM
    • 112 Posts
    • 263 Thanks
    lumpyspaceprincess
    Hi LumpySp

    Have you tried ringing Argos and asking for a refund ? Likely they'll do it as reclaiming the money ip will probably cost them more than waiving the fee. Quote I just heard in rip off Britain is to say to the call handler, 'can you understand how I'm feeling?'. Good luck
    Originally posted by Sazzie23

    Thanks Sazzie for the encouragement to contact them...


    I bit the bullet and rang Argos just now. Despite their protestations that I wasn't in an arrangement (could afford to pay too much) and that it was a legitimate fee, they've agreed to remove it and the debit interest- so my November statement should show 0! I utilised that key phrase more than once, and also covered that I have 0000s of debt still being paid and they'd effectively smashed the smallest glimmer of hope and achievement. I my have been a little dramatic but it worked
    UPDATED 26/11/16
    ¤ DMP TOTAL: £24516 ¤ DMP NOW: £6,524¤
    ¤ DFD: 28/09/18 28/01/18 28/10/2017 ¤
    ¤ DEBTS CLEAR: 2/6 ¤

    • Sazzie23
    • By Sazzie23 15th Oct 16, 9:20 AM
    • 2,580 Posts
    • 10,438 Thanks
    Sazzie23
    Thanks Sazzie for the encouragement to contact them...


    I bit the bullet and rang Argos just now. Despite their protestations that I wasn't in an arrangement (could afford to pay too much) and that it was a legitimate fee, they've agreed to remove it and the debit interest- so my November statement should show 0! I utilised that key phrase more than once, and also covered that I have 0000s of debt still being paid and they'd effectively smashed the smallest glimmer of hope and achievement. I my have been a little dramatic but it worked
    Originally posted by lumpyspaceprincess

    Go LSP Go LSP
    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.
    • make_the_change
    • By make_the_change 16th Oct 16, 10:10 AM
    • 365 Posts
    • 2,212 Thanks
    make_the_change
    Bit of advice needed.

    I sent a letter to my biggest debt, an overdraft and made a complaint about my situation and the charges on my account. They wrote back and said I should receive a reply by today. No reply received. But numerous letters chasing me for payment or threatening to escalate, possibly legal.

    What can I do as they have failed to respond within a given time?
    DMP Started June 2016
    • sourcrates
    • By sourcrates 16th Oct 16, 11:25 AM
    • 10,204 Posts
    • 9,953 Thanks
    sourcrates
    Bit of advice needed.

    I sent a letter to my biggest debt, an overdraft and made a complaint about my situation and the charges on my account. They wrote back and said I should receive a reply by today. No reply received. But numerous letters chasing me for payment or threatening to escalate, possibly legal.

    What can I do as they have failed to respond within a given time?
    Originally posted by make_the_change
    Hi,

    Standard response time for complaint resolution is 8 weeks, although it does differ between companies, depending on there own internal policies.

    After 8 weeks it can be escalated to the FOS (Financial Ombudsman Service).

    Look it up on the particular companies website and see what there complaints policy is, every company has one.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    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/
    • make_the_change
    • By make_the_change 16th Oct 16, 12:33 PM
    • 365 Posts
    • 2,212 Thanks
    make_the_change
    Hi,

    Standard response time for complaint resolution is 8 weeks, although it does differ between companies, depending on there own internal policies.

    After 8 weeks it can be escalated to the FOS (Financial Ombudsman Service).

    Look it up on the particular companies website and see what there complaints policy is, every company has one.
    Originally posted by sourcrates
    It states they aim to deal with complaints within 8 weeks. It was them that said they would respond by the 16th to me. Will send a letter to their people chasing me explaining the situation. Hopefully push my complaint quicker.
    DMP Started June 2016
    • Ellieseleven
    • By Ellieseleven 16th Oct 16, 4:23 PM
    • 2,065 Posts
    • 6,676 Thanks
    Ellieseleven
    Hello everyone,

    I know this subject comes up every so often but I have a question about BC and arrangement to pay markers.

    For the last 6 years and 3 months BC have been marking my credit file with AR. They have never defaulted me but as this was our biggest debt I didn't want to rock the boat as they weren't charging any interest on the account.

    In November 2015, they started to charge interest at 12% p.a. and my credit file started to show UC DM each month.

    I wrote to them to try and get the interest stopped but they refused. As I only had just over a year to go, I have just carried on paying.

    Today, I have logged onto SC and notice the entry for BC now shows as Link Finance. I have had no correspondence from anyone to say this was happening.

    If this debt has been sold on, do you think it is worth contacting BC to ask them to back date a default?

    Our defaults are now starting to drop off our file and this will be the only one left, due to complete in March 2017

    Thanks in advance for any advice.

    Ellie xx
    Debt Free 1st March 2017
    Saving for Xmas 2017 #1 £252/ £732
    DFBXMAS 2017 #18 £1978/1,978 100%
    EF #142 - 390/1000
    • sourcrates
    • By sourcrates 16th Oct 16, 5:22 PM
    • 10,204 Posts
    • 9,953 Thanks
    sourcrates
    Hello everyone,

    I know this subject comes up every so often but I have a question about BC and arrangement to pay markers.

    For the last 6 years and 3 months BC have been marking my credit file with AR. They have never defaulted me but as this was our biggest debt I didn't want to rock the boat as they weren't charging any interest on the account.

    In November 2015, they started to charge interest at 12% p.a. and my credit file started to show UC DM each month.

    I wrote to them to try and get the interest stopped but they refused. As I only had just over a year to go, I have just carried on paying.

    Today, I have logged onto SC and notice the entry for BC now shows as Link Finance. I have had no correspondence from anyone to say this was happening.

    If this debt has been sold on, do you think it is worth contacting BC to ask them to back date a default?

    Our defaults are now starting to drop off our file and this will be the only one left, due to complete in March 2017

    Thanks in advance for any advice.

    Ellie xx
    Originally posted by Ellieseleven
    It could be Link are just managing the debt, but looking at there website it says they are "specialist debt purchasers", so it's likley it's been sold.

    If BC had sold the account, you should of been informed in writing, likewise in order to sell the account on, it must be defaulted first, so again, you should of received a default notice as well.

    May be worth putting these points to BC in a letter, see what they have to say.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    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/
    • Ellieseleven
    • By Ellieseleven 16th Oct 16, 6:11 PM
    • 2,065 Posts
    • 6,676 Thanks
    Ellieseleven
    It could be Link are just managing the debt, but looking at there website it says they are "specialist debt purchasers", so it's likley it's been sold.

    If BC had sold the account, you should of been informed in writing, likewise in order to sell the account on, it must be defaulted first, so again, you should of received a default notice as well.

    May be worth putting these points to BC in a letter, see what they have to say.
    Originally posted by sourcrates
    Thank you Sourcrates for your response.

    I will write to BC and see if I can find out more.

    Ellie x
    Debt Free 1st March 2017
    Saving for Xmas 2017 #1 £252/ £732
    DFBXMAS 2017 #18 £1978/1,978 100%
    EF #142 - 390/1000
    • Ellieseleven
    • By Ellieseleven 17th Oct 16, 6:17 PM
    • 2,065 Posts
    • 6,676 Thanks
    Ellieseleven
    It could be Link are just managing the debt, but looking at there website it says they are "specialist debt purchasers", so it's likley it's been sold.

    If BC had sold the account, you should of been informed in writing, likewise in order to sell the account on, it must be defaulted first, so again, you should of received a default notice as well.

    May be worth putting these points to BC in a letter, see what they have to say.
    Originally posted by sourcrates
    I have just come off the phone to BC, they say they have sold on the debt to Link (along with approx. another 1,000 accounts).

    I explained that we have not been notified and asked why the account had not been defaulted. The guy on the phone said they wouldn't default us (as though he was doing us a favour) and that Link would offer us an opportunity to pay off the account at a reduced amount. I asked what the status would be then and he said "partially settled" (I don't want to partially settle as this account would be fully paid in 5 months time anyway).

    I asked if they would default the account and back date it but again the response was that AR is better on the account than a default.

    My conclusion to this call is that I know more than the operator and I will now put my query in writing and ask again if they will default us and back date it 6 years.

    I just thought this might be useful for anyone with BC who finds their account sold onto Link.

    I will keep you updated with any response from BC

    Ellie x
    Debt Free 1st March 2017
    Saving for Xmas 2017 #1 £252/ £732
    DFBXMAS 2017 #18 £1978/1,978 100%
    EF #142 - 390/1000
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