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  • FIRST POST
    • sourcrates
    • By sourcrates 26th Mar 17, 12:20 PM
    • 12,700Posts
    • 12,042Thanks
    sourcrates
    DMP Mutual Support Thread - Part 12
    • #1
    • 26th Mar 17, 12:20 PM
    DMP Mutual Support Thread - Part 12 26th Mar 17 at 12:20 PM
    Welcome to the DMP mutual support thread Part 12 !!

    Here you can find help in starting and running your DMP, self managed, Stepchange, Payplan and any other DMP all welcome here, but we do encourage you to use a free service, not one you pay for.

    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 non judgmental and all questions are welcome.

    Again the old thread was getting a tad long, so time for a new one.

    The old thread can be found here :

    http://forums.moneysavingexpert.com/showthread.php?t=5285089

    Once again, i think the original "newbie" post by sazzie23 still rings true.
    Last edited by sourcrates; 26-03-2017 at 12:50 PM.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    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/
Page 116
    • tonyace123
    • By tonyace123 25th Nov 17, 7:49 PM
    • 6 Posts
    • 0 Thanks
    tonyace123
    Hi,just had a review a week ago with sc,this was because mortgage going up due to inflation rise,now the Halifax are saying they rejected my payment plan,the money sent to them is exactly the same amount should I worry about this or just ride it out,everything was running smoothly till this review I can't go self managed just yet not mentally strong enough just yet but getting stronger each week,any thoughts would be appreciated thank you
    • StopIt
    • By StopIt 28th Nov 17, 10:23 AM
    • 1,449 Posts
    • 1,239 Thanks
    StopIt
    Hi,just had a review a week ago with sc,this was because mortgage going up due to inflation rise,now the Halifax are saying they rejected my payment plan,the money sent to them is exactly the same amount should I worry about this or just ride it out,everything was running smoothly till this review I can't go self managed just yet not mentally strong enough just yet but getting stronger each week,any thoughts would be appreciated thank you
    Originally posted by tonyace123

    Don't worry.


    If Halifax reject your payment plan, they'll sell the debt onto someone who will.


    Most original creditors "reject" DMP payments, because they end up selling the debts, but say it in different ways. Some accept the fact you're in a DMP, but then sell the debt anyway!
    I'm a Board Guide on the Debt Free Wannabe, 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

    In debt and looking for help? Look here for the MSE Debt Help Guide.
    Also, If you need any free and impartial debt advice, the National Debtline, Stepchange, and the CAB can help.
    • Mulder83
    • By Mulder83 28th Nov 17, 12:18 PM
    • 3 Posts
    • 7 Thanks
    Mulder83
    Debt down from almost £15k to £6k
    Been Self Managing my DMP since March and all things are going great.

    Made an offer to lowell to give me discount of 50% towards my 3 store accounts, it wasn't accepted but they offered 20% which i agreed, 1 of the accounts will be closed in Jan with the 2 others being closed in April and August.

    i issued a CCA request to Wescot for an account Lloyds TSB Consolidated Loan & Credit Card pre-2007, and also asked Robinson Way to knock of £895 (70% discount) off the for an original debt of £1214 with Barclay Card, i initially thought they would laugh out the door telling to me to buggar off but they asked me to complete and return the SOA . So in return i issued a CCA request before i would complete the SOA, never be afraid to ask discounts from lenders whilst these will mark my credit file as partially settled my credit file is already ruined anyway.

    Quickquid (loan sharks) had proof of my CCA but would only offer a 20% discount payment in full (£210) , so currently fighting my corner to get a monthly arrangement.

    Capital One (Fredrickson) agreed my 50% discount on the debt being cleared in 3 months

    So all in all next year is looking good to clearing all my debts, bearing in mind it was originally with SC to be cleared in 2020/21.
    • selinek
    • By selinek 28th Nov 17, 1:20 PM
    • 30 Posts
    • 10 Thanks
    selinek
    Been Self Managing my DMP since March and all things are going great.

    Made an offer to lowell to give me discount of 50% towards my 3 store accounts, it wasn't accepted but they offered 20% which i agreed, 1 of the accounts will be closed in Jan with the 2 others being closed in April and August.

    i issued a CCA request to Wescot for an account Lloyds TSB Consolidated Loan & Credit Card pre-2007, and also asked Robinson Way to knock of £895 (70% discount) off the for an original debt of £1214 with Barclay Card, i initially thought they would laugh out the door telling to me to buggar off but they asked me to complete and return the SOA . So in return i issued a CCA request before i would complete the SOA, never be afraid to ask discounts from lenders whilst these will mark my credit file as partially settled my credit file is already ruined anyway.

    Quickquid (loan sharks) had proof of my CCA but would only offer a 20% discount payment in full (£210) , so currently fighting my corner to get a monthly arrangement.

    Capital One (Fredrickson) agreed my 50% discount on the debt being cleared in 3 months

    So all in all next year is looking good to clearing all my debts, bearing in mind it was originally with SC to be cleared in 2020/21.
    Originally posted by Mulder83
    That’s great news . What a great to start the new year.I sent CCA all 9 creditors. Only one has come back enforceable with one pending outcome. Had to send another CCA to westcot with fee payable to LLoyds TSB.westcot wouldn’t real with the request I would never have thought about sending a CCA REQUEST if it wasn’t for this thread. It is definitely worth doing it

    The one that is enforceable is Capital One I feel encouraged by your experience to put in an F&F to them. Every little helps . All debts have dropped my credit file some time ago. Helps knowing partial payment won’t show up

    I’ve recently gone over from SC to self managed. What a great feeling of liberation!
    Last edited by selinek; 28-11-2017 at 3:25 PM.
    • selinek
    • By selinek 29th Nov 17, 6:53 AM
    • 30 Posts
    • 10 Thanks
    selinek
    Lloyds-owned question
    I have banked with Halifax for nearly 9 years. I Changed to them when I set up my DMP with SC. I have realised itís a LLoyds own bank. Clearly my head has been living under rock for all this time. One of my creditors is LLoyds credit card ( sure It was tsb when I applied mid 90ís). Debt is being managed by westcot. I am now self managed as of 21/11/17. Could LLoyds off set what I owe ? in other words start helping themselves to my money in Halifax??
    • StopIt
    • By StopIt 29th Nov 17, 3:20 PM
    • 1,449 Posts
    • 1,239 Thanks
    StopIt
    I have banked with Halifax for nearly 9 years. I Changed to them when I set up my DMP with SC. I have realised itís a LLoyds own bank. Clearly my head has been living under rock for all this time. One of my creditors is LLoyds credit card ( sure It was tsb when I applied mid 90ís). Debt is being managed by westcot. I am now self managed as of 21/11/17. Could LLoyds off set what I owe ? in other words start helping themselves to my money in Halifax??
    Originally posted by selinek

    Halifax and Lloyds operate under different banking licenses, meaning that the accounts are legally separate.


    However, it's not a risk I'd be willing to take anyway. Open a Basic account elsewhere: https://www.moneysavingexpert.com/banking/basic-bank-accounts
    I'm a Board Guide on the Debt Free Wannabe, 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

    In debt and looking for help? Look here for the MSE Debt Help Guide.
    Also, If you need any free and impartial debt advice, the National Debtline, Stepchange, and the CAB can help.
    • selinek
    • By selinek 29th Nov 17, 3:29 PM
    • 30 Posts
    • 10 Thanks
    selinek
    Halifax and Lloyds operate under different banking licenses, meaning that the accounts are legally separate.


    However, it's not a risk I'd be willing to take anyway. Open a Basic account elsewhere: https://www.moneysavingexpert.com/banking/basic-bank-accounts
    Originally posted by StopIt

    Thank you stopIt..... it’s good to know. I will give some thought changing if there is a strong likelihood of LLoyds taking money. If they are separate gives some confidence my cash will left alone......
    Last edited by selinek; 29-11-2017 at 4:56 PM.
    • carbootcrazy
    • By carbootcrazy 29th Nov 17, 3:30 PM
    • 4,158 Posts
    • 23,317 Thanks
    carbootcrazy
    Just reposting my query from a while ago if anyone is around who can answer it please. I know people are very busy especially at this time of year but I'd really appreciate any help. Thanks


    I realise I could phone either of the parties involved and just ask them but I really don't want to make any contact with either at this stage.


    Just a quick question if there's anyone about who can help please.

    Just been going through my paperwork and have discovered a letter from Santander about my Asda credit card that they issued. The letter dates from early 2014 telling me that the account has been assigned to New Day. I realised New Day had taken over the collection of payments, that's who I've been paying although Santander seem to still be the bank that money goes to. I can find no trace of a letter from New Day but it's a miracle I still had the Santander letter after all this time


    What confuses me is whether New Day is just collecting the debt on Santander's behalf (as I always thought) or whether New Day actually bought the debt and now own it.


    The letter from Santander said:

    ' From 1st April 2014, Santander Cards UK Ltd will assign all of its respective rights, title and interest in respect of your card (including the outstanding balance) to Newday Ltd.

    This change will have no effect on the way you use your account, and means that New Day Ltd will be the card issuer from that date and responsible for managing your account
    '


    All advice very welcome
    Originally posted by carbootcrazy
    Make £10 A Day Challenge 2017. Jan-Oct: £4500 ish
    Signing off for 2017, already smashed my year's target
    3-6 Months Emergency Fund Challenge #12: £3733.00/£5000.

    Original Debt: £56804 (@ LBM 02/13). Balance now: £12411
    . Getting there.
    • zenshi
    • By zenshi 29th Nov 17, 5:04 PM
    • 963 Posts
    • 1,966 Thanks
    zenshi
    Carboot....can't help with your query but I have a Santander card that defaulted in 2013. Never had any letter from anyone other than themselves.

    Another lot who seem to have different rules within themselves!

    Sorry, mis read your post. Thought you meant in general rather than 'your' card
    LBM.....sometime in 2013 £27,056. 10 creditors
    Oct 17......£18,118.....7 creditors left 32% paid

    £26,200 on interest only part of mortgage (July 16)...will chip away £23,543
    £49,200 repayment mortgage ( July 16) £45,599
    • StopIt
    • By StopIt 30th Nov 17, 8:18 AM
    • 1,449 Posts
    • 1,239 Thanks
    StopIt
    Just reposting my query from a while ago if anyone is around who can answer it please. I know people are very busy especially at this time of year but I'd really appreciate any help. Thanks


    I realise I could phone either of the parties involved and just ask them but I really don't want to make any contact with either at this stage.
    Originally posted by carbootcrazy

    If I remember rightly, NewDay took over all of Asda Credit Cards, so they're certainly not acting as a DCA in all of this, but merely a new administrator for a supermarkets banking activities.
    I'm a Board Guide on the Debt Free Wannabe, 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

    In debt and looking for help? Look here for the MSE Debt Help Guide.
    Also, If you need any free and impartial debt advice, the National Debtline, Stepchange, and the CAB can help.
    • Just Afloat
    • By Just Afloat 1st Dec 17, 9:26 AM
    • 6 Posts
    • 2 Thanks
    Just Afloat
    Interest being added
    Well I know its been coming but just received a letter from my Halifax credit card saying that I am now paying the minimum required on my credit card so they will start adding interest from December 27th, Merry Christmas...Expecting Halifax to do the same with my Sainsbury's credit card around Easter.
    Debt free date was going to be June 2020 but I have just worked out that if I continue making my full payment for DMP, then with this interest I should still end DMP at Christmas 2020, just have to grit my teeth and plod on the extra 6 months.
    LBM August 2015 70K 9 Creditors
    Current 36k 8 Creditors
    LBM August 2015 70K 9 Creditors
    Current Status 43K 8 Creditors
    • Suseka97
    • By Suseka97 1st Dec 17, 12:47 PM
    • 147 Posts
    • 220 Thanks
    Suseka97
    Well I know its been coming but just received a letter from my Halifax credit card saying that I am now paying the minimum required on my credit card so they will start adding interest from December 27th, Merry Christmas...Expecting Halifax to do the same with my Sainsbury's credit card around Easter....
    Originally posted by Just Afloat
    Hi JAF,
    Barclaycard did that to us with two credit cards for the very same reason. SC would not drop the payments and I even took the matter to the FOS who upheld BC's decision. Eventually BC sold the debt on because it was going to take forever (well almost) to clear the debt and so that may well happen to you. With that said, this is one reason many folks opt to self-manage because you can then control how much you pay and ensure you do not go over the 'minimums' -again something to consider maybe.
    LBM Apr13: 14 Creditors / £85k+ owed
    Self-managed Aug17
    Current Status: 6 Creditors / £11,994
    • Max and sasha
    • By Max and sasha 1st Dec 17, 8:50 PM
    • 77 Posts
    • 58 Thanks
    Max and sasha
    Hi justafloat

    Why not go self managed dmp?

    That way you can reduce your payments to suit you and you pay halifax less than the minimum therefore hopefully they stop the interest again?


    Max
    • Just Afloat
    • By Just Afloat 1st Dec 17, 9:03 PM
    • 6 Posts
    • 2 Thanks
    Just Afloat
    I'm worried because what happens if I go self managed and reduce payments to non defaulted debts without reducing payments to the ones already defaulted. If I treat debts unfairly will I be more likely to face court action? I am a homeowner with a joint mortgage.
    LBM August 2015 70K 9 Creditors
    Current Status 43K 8 Creditors
    • Minnie82
    • By Minnie82 1st Dec 17, 9:11 PM
    • 9 Posts
    • 1 Thanks
    Minnie82
    Hi everyone,

    I've read through a lot of this thread and have been a lurker in the past but lost my log in.

    So, we are 4 years into a 5.5 year DAS. Total was circa 35k to begin. We set it up with Wilson Andrews who then became Gregory Pennington. They've actually been a pleasure to deal with but I'm starting to resent the £90 per month arrangement fee.

    We are in arrears (1 month) at the moment due to a company who were due my dh money going insolvent but we are planning to increase our monthly payments to make this up.

    I'm looking for advice to see if anyone has moved from a company over to Step Change?

    Thanks
    M x
    • selinek
    • By selinek 1st Dec 17, 9:21 PM
    • 30 Posts
    • 10 Thanks
    selinek
    Hi everyone,

    I've read through a lot of this thread and have been a lurker in the past but lost my log in.

    So, we are 4 years into a 5.5 year DAS. Total was circa 35k to begin. We set it up with Wilson Andrews who then became Gregory Pennington. They've actually been a pleasure to deal with but I'm starting to resent the £90 per month arrangement fee.

    We are in arrears (1 month) at the moment due to a company who were due my dh money going insolvent but we are planning to increase our monthly payments to make this up.

    I'm looking for advice to see if anyone has moved from a company over to Step Change?

    Thanks
    M x
    Originally posted by Minnie82

    I too was a lurker for a while but plucked up the courage posted and got great advice. Never pay for a DMP when you get the same service for free plus you pay more towards your debt. I don’t know for sure it shouldn’t be that difficult to switch. Some one will come along with the right info.
    • Minnie82
    • By Minnie82 1st Dec 17, 9:28 PM
    • 9 Posts
    • 1 Thanks
    Minnie82
    I too was a lurker for a while but plucked up the courage posted and got great advice. Never pay for a DMP when you get the same service for free plus you pay more towards your debt. I donít know for sure it shouldnít be that difficult to switch. Some one will come along with the right info.
    Originally posted by selinek
    Thank you so much, I'm thinking the same thing, those payments could get us finished 2 months earlier than planned!

    Still can't believe we're 4 years in.
    • sourcrates
    • By sourcrates 1st Dec 17, 10:00 PM
    • 12,700 Posts
    • 12,042 Thanks
    sourcrates
    Thank you so much, I'm thinking the same thing, those payments could get us finished 2 months earlier than planned!

    Still can't believe we're 4 years in.
    Originally posted by Minnie82
    Cancel GP immediately, when you took out the plan, where you informed of free alternatives ? You should of been, that’s a case for mis-selling in itself.

    It’s really easy to self manage a DMP or if you still don’t feel that confident, contact stepchange, they don’t charge for DMP’s at all, it’s totally free.

    I suggest you switch today.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    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/
    • Minnie82
    • By Minnie82 1st Dec 17, 10:13 PM
    • 9 Posts
    • 1 Thanks
    Minnie82
    Cancel GP immediately, when you took out the plan, where you informed of free alternatives ? You should of been, thatís a case for mis-selling in itself.

    Itís really easy to self manage a DMP or if you still donít feel that confident, contact stepchange, they donít charge for DMPís at all, itís totally free.

    I suggest you switch today.
    Originally posted by sourcrates
    Hi,

    Thank you for commenting, I've emailed SC asking if they can help, I'm not too confident doing it myself but then I wonder if I did manage it on my own, could I offer full and final payments.

    As an aside, we ebtered the DAS in December 2013 but Barclaycard didn't default hubby until 2015....is there anything we can do to get this to a fairer date?
    • sourcrates
    • By sourcrates 1st Dec 17, 10:31 PM
    • 12,700 Posts
    • 12,042 Thanks
    sourcrates
    Send a written complaint quoting the lending code, which states defaults should be registered between 3-6 months after the end of contractural payments.

    They know the rules, you just need to remind them, if they refuse, the ICO is your next step.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    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/
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