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  • FIRST POST
    • sourcrates
    • By sourcrates 26th Mar 17, 12:20 PM
    • 12,673Posts
    • 12,011Thanks
    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 117
    • selinek
    • By selinek 1st Dec 17, 10:33 PM
    • 30 Posts
    • 10 Thanks
    selinek
    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?
    Originally posted by Minnie82
    I was with stepchange for 8 years. Didn’t realise I could self manage until I read this thread. I have read all 100 plus pages. Took me a week but I was inspired by people’s stories and bravery in standing up to their creditors. I have learnt so much and driven to being self managed a couple weeks ago. I felt nervous at first but I know I’ve done the right thing for me. I had one my creditors contact me as they had been informed my SC that I cancelled. Confirmed I have and let them know I have written to them with a I&E. Made it clear they need to correspond in writing from now on. They accepted end of call. They are one the unenforceable debts but I’m buying me time to consider my next move. Whatever you decide you will get plenty of help here. Read the previous posts from the start you can only benefit. Welcome
    • Minnie82
    • By Minnie82 1st Dec 17, 10:45 PM
    • 9 Posts
    • 1 Thanks
    Minnie82
    I was with stepchange for 8 years. Didnít realise I could self manage until I read this thread. I have read all 100 plus pages. Took me a week but I was inspired by peopleís stories and bravery in standing up to their creditors. I have learnt so much and driven to being self managed a couple weeks ago. I felt nervous at first but I know Iíve done the right thing for me. I had one my creditors contact me as they had been informed my SC that I cancelled. Confirmed I have and let them know I have written to them with a I&E. Made it clear they need to correspond in writing from now on. They accepted end of call. They are one the unenforceable debts but Iím buying me time to consider my next move. Whatever you decide you will get plenty of help here. Read the previous posts from the start you can only benefit. Welcome
    Originally posted by selinek
    Thanks so much folks, am going to do my homework. Starting with a call to GP in the morning to get some info on where we stand at the moment. Looking at credit file, a lot of the debts left are a couple of hundred pounds, we could get them settled asap and marked as such if its possible.

    More research required I think.
    • selinek
    • By selinek 3rd Dec 17, 7:59 AM
    • 30 Posts
    • 10 Thanks
    selinek
    This may seem like a strange question but is it possible to get a back dated default for a settled acct. OC was barclaycard then sold to link. I have realised this acct is showing AR Int closed section of my CR. This will sit on MY CR for 6 years. Paid it off April this year .

    Your advice is always appreciated
    Last edited by selinek; 03-12-2017 at 8:37 AM.
    • sourcrates
    • By sourcrates 3rd Dec 17, 12:48 PM
    • 12,673 Posts
    • 12,011 Thanks
    sourcrates
    This may seem like a strange question but is it possible to get a back dated default for a settled acct. OC was barclaycard then sold to link. I have realised this acct is showing AR Int closed section of my CR. This will sit on MY CR for 6 years. Paid it off April this year .

    Your advice is always appreciated
    Originally posted by selinek
    Anything is possible, write and complain, see what they say.
    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/
    • alana171
    • By alana171 3rd Dec 17, 12:52 PM
    • 67 Posts
    • 87 Thanks
    alana171
    Hi all. So Iím in month 3 of my DMP and yesterday I had a letter from Marbles CC basically stating that whilst they are pleased I am continuing (via StepChange) to make payments they have decided to terminate the CC agreement with me and have enclosed a default notice and They may sell my account to a third party.
    This is good right and what needs to happen or have I got that wrong?
    Thanks in advance.
    Emergency Fund £100/£1000
    DMP Debt Free Date January 2023
    • sourcrates
    • By sourcrates 3rd Dec 17, 1:30 PM
    • 12,673 Posts
    • 12,011 Thanks
    sourcrates
    Hi all. So Iím in month 3 of my DMP and yesterday I had a letter from Marbles CC basically stating that whilst they are pleased I am continuing (via StepChange) to make payments they have decided to terminate the CC agreement with me and have enclosed a default notice and They may sell my account to a third party.
    This is good right and what needs to happen or have I got that wrong?
    Thanks in advance.
    Originally posted by alana171
    Hi,

    Yes, all good, and par for the course, but remember, the new owner will most likely be unaware of your DMP arrangement, you will have to write and tell them when they contact you.
    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/
    • selinek
    • By selinek 3rd Dec 17, 3:39 PM
    • 30 Posts
    • 10 Thanks
    selinek
    Anything is possible, write and complain, see what they say.
    Originally posted by sourcrates
    No harm in trying. From what I can remember they were still charging me interest from 2008 until I paid off in April !
    • MMC87
    • By MMC87 4th Dec 17, 8:26 AM
    • 24 Posts
    • 33 Thanks
    MMC87
    Hello

    I am a new visitor to the forum and in the process of starting a DMP. I feel happier now that Iíve decided a plan of action to take but Iím struggling to concentrate and see clearly and I hope someone can answer this question for me as my eyes are jittering around in my head trying to read through the endless info available on DMP (I do intend to sit and have a really good read through the threads here when I can)

    I know I donít need to declare things like overtime, but I have been considering a zero hours contract job for the weekends. How would that work? Obviously I wouldnít have a regular, consistent income to report so I couldnít commit to paying extra every month, although obviously Iíd want to if I could.
    • sourcrates
    • By sourcrates 4th Dec 17, 8:29 PM
    • 12,673 Posts
    • 12,011 Thanks
    sourcrates
    Hello

    I am a new visitor to the forum and in the process of starting a DMP. I feel happier now that Iíve decided a plan of action to take but Iím struggling to concentrate and see clearly and I hope someone can answer this question for me as my eyes are jittering around in my head trying to read through the endless info available on DMP (I do intend to sit and have a really good read through the threads here when I can)

    I know I donít need to declare things like overtime, but I have been considering a zero hours contract job for the weekends. How would that work? Obviously I wouldnít have a regular, consistent income to report so I couldnít commit to paying extra every month, although obviously Iíd want to if I could.
    Originally posted by MMC87
    Just declare your main income, as a zero hours second job cannot give you guaranteed hours, use any money you do make from it as a little bonus for yourself, or pay off lump sums whenever you can.
    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/
    • spiffyiffy
    • By spiffyiffy 4th Dec 17, 10:47 PM
    • 77 Posts
    • 299 Thanks
    spiffyiffy
    Hi all,

    I haven't been on here for about 4 or 5 months probably longer.

    I went self managed which was good and was plodding along well. Managed to pay off one creditor so far which was good.

    My question really is that I have 2 HSBC accounts on my list which both defaulted around May 2015 I think. I just randomly checked my noddle account yesterday and they were both gone off my noddle account. I also received letters from HSBC telling me they had sold my accounts to Cabot.
    Does this now mean that Cabot will default me again starting now so I'll have to wait 6 more years that they drop off? or what will happen? anyone else been in this situation?

    I will post more updates soon and an update of whats gone on, in the meantime I will have to go back through this thread to read the posts from 4 or 5 months ago

    Thanks
    LBM Sometime in 2014: 9 Creditors / £32K+ owed
    Current Status: 9 Creditors / Currently £32,000+
    DFD: Aiming for end of 2025
    Actual DFD: Some time in 2040ís
    Self-managed 01Jul17: CCAís to commence Sep on wards
    (Sig copied from Suseka97 )
    • sourcrates
    • By sourcrates 4th Dec 17, 11:44 PM
    • 12,673 Posts
    • 12,011 Thanks
    sourcrates
    Hi all,

    I haven't been on here for about 4 or 5 months probably longer.

    I went self managed which was good and was plodding along well. Managed to pay off one creditor so far which was good.

    My question really is that I have 2 HSBC accounts on my list which both defaulted around May 2015 I think. I just randomly checked my noddle account yesterday and they were both gone off my noddle account. I also received letters from HSBC telling me they had sold my accounts to Cabot.
    Does this now mean that Cabot will default me again starting now so I'll have to wait 6 more years that they drop off? or what will happen? anyone else been in this situation?

    I will post more updates soon and an update of whats gone on, in the meantime I will have to go back through this thread to read the posts from 4 or 5 months ago

    Thanks
    Originally posted by spiffyiffy
    No, debts only default once.

    Cabot will take over reporting the accounts status, but the dates will remain the same.

    If they donít, complain.
    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/
    • MMC87
    • By MMC87 5th Dec 17, 10:44 AM
    • 24 Posts
    • 33 Thanks
    MMC87
    Just declare your main income, as a zero hours second job cannot give you guaranteed hours, use any money you do make from it as a little bonus for yourself, or pay off lump sums whenever you can.
    Originally posted by sourcrates

    Thank you!
    • motivated
    • By motivated 5th Dec 17, 4:51 PM
    • 2,292 Posts
    • 3,462 Thanks
    motivated
    Hi all
    I’m still around and still plodding along with my SM DMP. My 2 big Halifax loans are now showing as defaulted in October on Noddle and are being managed by wescot and I have a monthly payment plan in place with them.

    If I up my payments to them now (still not to the original agreement amount though) will it make any difference. I’m only asking as I’ve seen people write that their payments were at or near the original amount and then the creditor began adding interest etc. Or because they are defaulted will the balance stay the same? I’m itching to start making a dent in them.

    Thanks for any advice.
    Last edited by motivated; 05-12-2017 at 6:33 PM.

    LBM £82,590 Jan 17/£80,059 Dec 17
    Short term goal £790/£1796

    SPC # 91
    PDBX 18 # £0/£2,000
    52 week challenge £7.84
    • sourcrates
    • By sourcrates 5th Dec 17, 7:23 PM
    • 12,673 Posts
    • 12,011 Thanks
    sourcrates
    Hi all
    Iím still around and still plodding along with my SM DMP. My 2 big Halifax loans are now showing as defaulted in October on Noddle and are being managed by wescot and I have a monthly payment plan in place with them.

    If I up my payments to them now (still not to the original agreement amount though) will it make any difference. Iím only asking as Iíve seen people write that their payments were at or near the original amount and then the creditor began adding interest etc. Or because they are defaulted will the balance stay the same? Iím itching to start making a dent in them.

    Thanks for any advice.
    Originally posted by motivated
    Better saving up the spare money to do a possible full and final in the future, then you take that particular problem out of the equation.
    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/
    • motivated
    • By motivated 5th Dec 17, 7:53 PM
    • 2,292 Posts
    • 3,462 Thanks
    motivated
    Better saving up the spare money to do a possible full and final in the future, then you take that particular problem out of the equation.
    Originally posted by sourcrates
    Good point. Thanks Sourcrates I will do that. But being as it will take me many years to clear them at the rate I’m paying them. Would there be an issue with the length of time. They have been ok with my offer of payment so far.
    M
    Last edited by motivated; 05-12-2017 at 7:57 PM.

    LBM £82,590 Jan 17/£80,059 Dec 17
    Short term goal £790/£1796

    SPC # 91
    PDBX 18 # £0/£2,000
    52 week challenge £7.84
    • sourcrates
    • By sourcrates 5th Dec 17, 10:03 PM
    • 12,673 Posts
    • 12,011 Thanks
    sourcrates
    Good point. Thanks Sourcrates I will do that. But being as it will take me many years to clear them at the rate Iím paying them. Would there be an issue with the length of time. They have been ok with my offer of payment so far.
    M
    Originally posted by motivated
    Affordability is the key thing, you canít be asked to pay more than is affordable.

    They canít take what you donít have.
    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/
    • lunalola
    • By lunalola 7th Dec 17, 9:45 PM
    • 2 Posts
    • 0 Thanks
    lunalola
    Newbie - Hi!
    Hi all!

    So i have recently taken big steps towards my debt problem by contacting SC and making the decision to set up a DMP. - SO SCARY!

    There's so much fantastic information on this thread, so thank you! I do however have some questions...

    In order to save up some emergency fund, I have cancelled my credit card direct debits (I haven't missed payments yet but it is spiraling out of control and I would have been very close to missing!) Is this the right thing to do? What will happen next? I have read about token payments, but how do I send these and do I need to send an accompanying letter?

    Also, should I wait a couple of months before signing the SC agreement?

    Sorry if these are stupid questions, my head is spinning!

    TIA
    • sourcrates
    • By sourcrates 7th Dec 17, 10:29 PM
    • 12,673 Posts
    • 12,011 Thanks
    sourcrates
    Hi all!

    So i have recently taken big steps towards my debt problem by contacting SC and making the decision to set up a DMP. - SO SCARY!

    There's so much fantastic information on this thread, so thank you! I do however have some questions...

    In order to save up some emergency fund, I have cancelled my credit card direct debits (I haven't missed payments yet but it is spiraling out of control and I would have been very close to missing!) Is this the right thing to do? What will happen next? I have read about token payments, but how do I send these and do I need to send an accompanying letter?

    Also, should I wait a couple of months before signing the SC agreement?

    Sorry if these are stupid questions, my head is spinning!

    TIA
    Originally posted by lunalola
    Hi,

    In my opinion token payments are a waste of time.

    Send a short letter to each creditor explaining your situation, and that you are taking advice from stepchange.

    2/3 months time, start your DMP.

    Nothing will happen, you may get letters an calls, if you do, refer them to your previous letter.
    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/
    • lunalola
    • By lunalola 7th Dec 17, 10:43 PM
    • 2 Posts
    • 0 Thanks
    lunalola
    Thank you sourcrates, very useful information! I feel much better now having taken even the tiniest of steps. I have also decided to switch bank accounts as advised by SC so this should hopefully all be completed in the next week or so
    • LadyMorticia
    • By LadyMorticia 9th Dec 17, 12:40 PM
    • 19,113 Posts
    • 86,495 Thanks
    LadyMorticia
    Hey everyone! Hope you're all doing okay.

    Still on my DMP with StepChange but still very tempted to go self-managed so that I have more control. Not sure how I'd go about that though? And I'd like to drop to token payments for a few months as we've had quite large expenses but StepChange are refusing for me to drop to a short term TPP. :/
    Last edited by LadyMorticia; 09-12-2017 at 1:02 PM.
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