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  • FIRST POST
    • sourcrates
    • By sourcrates 26th Mar 17, 12:20 PM
    • 11,204Posts
    • 10,870Thanks
    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'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/
Page 61
    • Puzzcat
    • By Puzzcat 6th Jul 17, 9:48 PM
    • 3,078 Posts
    • 16,115 Thanks
    Puzzcat
    Sorry to hear that Puzz - I honestly think if you put the argument I mentioned to a creditor - about treating non-payers preferentially by defaulting them and not defaulting you because you are attempting to be responsible and deal with your debts - they would struggle to continue to mark CRA files with AP/AR and not backdate default markers. I think this because it is fact - completely ignore them, don't pay and you will get promptly defaulted. Act responsibly and try to pay even though you are in financial difficulty and they are penalising you.

    Good luck with the ICO.
    Originally posted by January2015
    I have quoted everything, still no joy!
    Christmas 2017 £350 cash/£80 vouchers
    I love my dmp started in Nov 13 with SC 33% paid
    Going Self Managed March 2016
    Pot Of Gold - £415.00
    MY DIARY -
    http://forums.moneysavingexpert.com/showthread.php?t=4768685
    • Puzzcat
    • By Puzzcat 6th Jul 17, 9:50 PM
    • 3,078 Posts
    • 16,115 Thanks
    Puzzcat
    did you send a token payment letter or just call them up ? puzzcat
    Originally posted by 100kdeep
    I sent a letter every month with a £1 cheque.
    Puzz
    Christmas 2017 £350 cash/£80 vouchers
    I love my dmp started in Nov 13 with SC 33% paid
    Going Self Managed March 2016
    Pot Of Gold - £415.00
    MY DIARY -
    http://forums.moneysavingexpert.com/showthread.php?t=4768685
    • carbootcrazy
    • By carbootcrazy 6th Jul 17, 10:02 PM
    • 3,750 Posts
    • 21,035 Thanks
    carbootcrazy
    Hi spiffyiffy & CBC

    The wording to use to request backdated defaults is to say something along the lines of....

    I informed you in mmm-yyyy that I was in financial difficulty and took advice regarding entering a DMP. You have continued to mark my credit reference files with AR/AP (change to whatever is appropriate for your circumstances). Had I been irresponsible and ignored my debts, this account would have been promptly defaulted in YYYY.

    As you are aware, default markers remain on credit agency reference files for 6 years from the date of default. However, as you are also aware AP/AR markers remain for a period of 6 years after the account has been settled. Therefore had I been irresponsible and ignored this debt the default marker would drop of my CRA files in xxxx.

    This letter is a formal complaint because I therefore believe you are penalising me for being responsible and trying to deal with my debts. You are treating customers who fail to keep in contact with you, and who fail to make any attempts to repay their debts more preferably than me.

    The solution I am seeking to this complaint is that you default this account and back-date the default on my CRA files to dd/mmm/yyyy


    Creditors would struggle to put up an argument to this - because it really is treating people who don't pay or communicate preferably and that cannot be fair. I have won the argument with BC and NW. It didn't have to go to ombudsman but I think if it did even the ombudsman would struggle to agree with the banks.
    Originally posted by January2015
    Thanks, January. That sounds absolutely perfect. I'll definitely be using it with Lloyds.

    Puzz, really sorry that it didn't work for you though. I'll risk it and see what happens, hoping that they'll see the sense of it. Sadly, Lloyds have given me more grief than all my other creditors put together so I'm not taking anything for granted.
    Make £10 A Day Challenge 2017. Jan-June: £1811.59 July: £346.57
    3-6 Months Emergency Fund Challenge #12: £1900.00/£3000. This is such hard going but I will do it.

    Original Debt: £56804 (@ LBM 02/13). Paid : £32316. Balance: £24488
    . These figures are completely out of date, must get them organised.
    • Rebeccadougherty
    • By Rebeccadougherty 7th Jul 17, 7:34 AM
    • 29 Posts
    • 13 Thanks
    Rebeccadougherty
    Hi again all
    Thank you for all the kind words. It's been so reassuring and I can't express enough my gratitude x still feeling a bit naff but not as bad x

    At the risk of just seeming incredibly dense, please could someone advise about NEDCAB? I end up on North East Derbyshire CAB site which I assume is correct but I just cannot see any template letters at all. I just wanted to send a letter to advise I would be making lesser payment for a further two months. Thank you in advance sorry to be so dense! X
    Last edited by Rebeccadougherty; 07-07-2017 at 7:40 AM.
    • fatbelly
    • By fatbelly 7th Jul 17, 8:11 AM
    • 10,951 Posts
    • 8,158 Thanks
    fatbelly
    It's NEDCAB money

    https://nedcab.cabmoney.org.uk/

    I doubt there's an exact template for your circumstances
    • Suseka97
    • By Suseka97 7th Jul 17, 11:08 AM
    • 84 Posts
    • 134 Thanks
    Suseka97
    ... I just wanted to send a letter to advise I would be making lesser payment for a further two months. Thank you in advance sorry to be so dense! X
    Originally posted by Rebeccadougherty
    Do you really need to send any letters at all? I know you posted earlier that SC said they won't send anything to your creditors, but also someone else said (and I've forgotten who it was) that they'd reduced their payment for a few months and sent nothing, and heard nothing from creditors. If it were me, I'd leave it at that and just carrying on as you are. If you do get anything from them, I would simply say that you've agreed to reduce payments in consultation with SC because of a change in your financial circumstances (no need to say what) and that normal payments will resume as of x.

    If you really want to write to them - just say something along the same lines and keep it short and sweet. No need to get into a protracted dialogue about this, nor lay your life open to the creditors. Its your plan and reducing payments for a few months wont derail things.
    • carbootcrazy
    • By carbootcrazy 7th Jul 17, 11:21 AM
    • 3,750 Posts
    • 21,035 Thanks
    carbootcrazy
    Do you really need to send any letters at all? I know you posted earlier that SC said they won't send anything to your creditors, but also someone else said (and I've forgotten who it was) that they'd reduced their payment for a few months and sent nothing, and heard nothing from creditors.
    Originally posted by Suseka97
    It was me, Suseka. I had to drop to tokens for 3 months and I was in a bit of a state about it (wimp that I am) and never thought to ask SC if they were contacting creditors about it or if I had to. Either way, I never did contact anyone, I just assumed it had been done by SC which on reflection probably hadn't been.


    No one batted an eyelid about it. If any creditor had contacted me I would have just kept the explanation short (as you advised Rebecca to do) and told them SC were working with me over the situation and I would be back to normal payments in xxx months.
    Make £10 A Day Challenge 2017. Jan-June: £1811.59 July: £346.57
    3-6 Months Emergency Fund Challenge #12: £1900.00/£3000. This is such hard going but I will do it.

    Original Debt: £56804 (@ LBM 02/13). Paid : £32316. Balance: £24488
    . These figures are completely out of date, must get them organised.
    • StopIt
    • By StopIt 7th Jul 17, 11:30 AM
    • 686 Posts
    • 624 Thanks
    StopIt
    It was me, Suseka. I had to drop to tokens for 3 months and I was in a bit of a state about it (wimp that I am) and never thought to ask SC if they were contacting creditors about it or if I had to. Either way, I never did contact anyone, I just assumed it had been done by SC which on reflection probably hadn't been.


    No one batted an eyelid about it. If any creditor had contacted me I would have just kept the explanation short (as you advised Rebecca to do) and told them SC were working with me over the situation and I would be back to normal payments in xxx months.
    Originally posted by carbootcrazy

    In the time it takes these companies to notice the lower payments, you'd have put them back up Rebecca, as this post evidences nicely as it's a very similar story.


    Just keep your payments lowered for that 3 months and if any creditor asks, say it's temporary, and has been advised to Stepchange. The likelihood of any actual action taken is low.
    • leanne12345
    • By leanne12345 7th Jul 17, 1:17 PM
    • 53 Posts
    • 34 Thanks
    leanne12345
    Thanks, January. That sounds absolutely perfect. I'll definitely be using it with Lloyds.

    Puzz, really sorry that it didn't work for you though. I'll risk it and see what happens, hoping that they'll see the sense of it. Sadly, Lloyds have given me more grief than all my other creditors put together so I'm not taking anything for granted.
    Originally posted by carbootcrazy
    We have 3 debts with Lloyds and they have promptly defaulted all of them with just 1 letter requesting them to do so, maybe they are being a bit more reasonable now so definitely worth sending a letter. Good luck!
    • carbootcrazy
    • By carbootcrazy 7th Jul 17, 3:37 PM
    • 3,750 Posts
    • 21,035 Thanks
    carbootcrazy
    We have 3 debts with Lloyds and they have promptly defaulted all of them with just 1 letter requesting them to do so, maybe they are being a bit more reasonable now so definitely worth sending a letter. Good luck!
    Originally posted by leanne12345
    Thanks for that good news, leanne. Well done . I'll definitely give it a go
    Make £10 A Day Challenge 2017. Jan-June: £1811.59 July: £346.57
    3-6 Months Emergency Fund Challenge #12: £1900.00/£3000. This is such hard going but I will do it.

    Original Debt: £56804 (@ LBM 02/13). Paid : £32316. Balance: £24488
    . These figures are completely out of date, must get them organised.
    • newstartDMP
    • By newstartDMP 7th Jul 17, 4:40 PM
    • 6 Posts
    • 33 Thanks
    newstartDMP
    Well, after a horrible day yesterday of finally owning up to the amount of debt I'm in (34,000 ) I have today got the ball rolling with StepChange. Please tell me it's going to get better, I feel like such a disappointment to my family.
    • purplepaws
    • By purplepaws 7th Jul 17, 4:47 PM
    • 41 Posts
    • 43 Thanks
    purplepaws
    Well, after a horrible day yesterday of finally owning up to the amount of debt I'm in (34,000 ) I have today got the ball rolling with StepChange. Please tell me it's going to get better, I feel like such a disappointment to my family.
    Originally posted by newstartDMP
    Hello newstartDMP!
    I promise that you will begin to feel better. Really, really soon.
    You are not alone, there are hundreds of us in the same boat - we are here to share the tears and the joys.
    Congratulations on beginning your journey.
    Hang-on in there and keep us updated!
    x x x
    DMP launched 04/07/17 to pay £16,982.82 debt.

    Thanks to MSE & all you wonderful Forum Peeps!
    • Julie67
    • By Julie67 7th Jul 17, 4:53 PM
    • 2,330 Posts
    • 21,223 Thanks
    Julie67
    Well, after a horrible day yesterday of finally owning up to the amount of debt I'm in (34,000 ) I have today got the ball rolling with StepChange. Please tell me it's going to get better, I feel like such a disappointment to my family.
    Originally posted by newstartDMP
    It will get better. I remember feeling exactly the same (non of our family know) I don't think it would help to tell them. That was 2012, 5 years on we are self managed and making massive inroads to getting rid of our debt. You will get there, and you will feel better.

    Just a quick update on one of our CCA requests. Nationwide initially ignored/lost our request but cashed the £1 knocking it off our debt. Several phone calls later they can't find the letter or the CCA's
    So the guy on the phone said, I'm not saying we can never find them, we just can't find them at the moment. I have asked him to put this in writing to me. He did say but you would have seen them when you took the CC out.... Tried to explain it doesn't work like that. Anyway upshot is they are unenforceable until they do find them and another £3400 of our debt. lets hope they never do.

    This is our only debt that had not been sold on so I was fully expecting them to produce them no problem.
    Might help others who have Nationwide as a creditor.
    Started Self Managed DMP 10th May 2017.
    Working hard to get rid of our debt.
    • newstartDMP
    • By newstartDMP 7th Jul 17, 5:25 PM
    • 6 Posts
    • 33 Thanks
    newstartDMP
    Thank you for the reassurance. I have received my paperwork back from StepChange, but also have the option to do a DMP with PayPlan (who think we can afford to pay £100 more per month towards the debt?) Which would be preferable? I understand that neither charge fees for a DMP, but is one generally better at freezing interest, etc than the other?
    • Julie67
    • By Julie67 7th Jul 17, 5:44 PM
    • 2,330 Posts
    • 21,223 Thanks
    Julie67
    Thank you for the reassurance. I have received my paperwork back from StepChange, but also have the option to do a DMP with PayPlan (who think we can afford to pay £100 more per month towards the debt?) Which would be preferable? I understand that neither charge fees for a DMP, but is one generally better at freezing interest, etc than the other?
    Originally posted by newstartDMP
    In my experience with SC they don't have anything to do with freezing interest. They suggest it I think in their initial letter to your creditors but it was really left to me to request the interest be frozen
    most were fine and pretty easy to deal with. I had a couple who were really difficult and I had to make a complaint, but in the end they all did, and I even managed to get a refund on interest charges from ASDA CC.
    I think in your position I would go for SC and save the other money towards an emergency fund. But just my opinion, others much more knowledgable than me may be able to advise differently. Good luck
    Started Self Managed DMP 10th May 2017.
    Working hard to get rid of our debt.
    • purplepaws
    • By purplepaws 7th Jul 17, 5:54 PM
    • 41 Posts
    • 43 Thanks
    purplepaws
    Thank you for the reassurance. I have received my paperwork back from StepChange, but also have the option to do a DMP with PayPlan (who think we can afford to pay £100 more per month towards the debt?) Which would be preferable? I understand that neither charge fees for a DMP, but is one generally better at freezing interest, etc than the other?
    Originally posted by newstartDMP
    Hello again,
    I went with Payplan. Initially they did push me to pay more than £100 but (after reading though the posts on here) I said 'no' and set- up a smaller payment. If you can't (or don't want to) pay £100 then put your foot down and tell them what a 'realistic' amount is.
    The only reason I went with Payplan over StepChange was that I had gone so far with Payplan I didn't have the time to go through it all over again - especially as I have decided that I will probably go self-managed in a few months anyway (also thanks to the advice on here!)
    I understand that Payplan are 'paid' by the industry (not sure about StepChange), so I guess that they will always have the creditors needs in mind but if it wasn't for us giving them business in the first place, they would probably run out of clients if they did not also consider our needs over the creditors.
    Believe me, once you say OK, sign the authorisation and let them do their thing, you'll feel so much better!
    DMP launched 04/07/17 to pay £16,982.82 debt.

    Thanks to MSE & all you wonderful Forum Peeps!
    • BeingDebtFreeStartsHere
    • By BeingDebtFreeStartsHere 7th Jul 17, 7:56 PM
    • 258 Posts
    • 782 Thanks
    BeingDebtFreeStartsHere
    HI all

    Quick question re: self managed. I am going take the plunge in the next couple of weeks (once my replacement ink cartridges arrive!! ) Apologies in advance if this has been asked recently.

    I was going to let my last SC payment go out at the beginning of August then move to self managed. Our emergency fund is pretty much zero so I was wondering if I can write to the creditors and explain I am moving to self managed, request payment details to set up standing orders to pay them directly and send I and E info, but state my payments will resume in a few months' time as I need to set up an emergency fund?

    Any advice on what to write or any other suggestions from any of you self managing pros would be very much appreciated

    Take care,

    BDFSH x
    LBM - August 2014
    DMP - started October 2014
    Total Debt Sept 2014 - £70,905.57 Apr 2017 £56,116.31 (20.8% paid) but proud to be in control and paying back what we've borrowed
    • sourcrates
    • By sourcrates 7th Jul 17, 9:09 PM
    • 11,204 Posts
    • 10,870 Thanks
    sourcrates
    Try something like this :


    Dear creditors,

    As you are aware I have been repaying my indebtedness to you via a stepchange debt management plan, this has worked well for me, but the time has now come for me to regain control over my finances, and as from (insert date) I will be self managing my own financial affairs.

    To allow me to organise my plan, and to assertain my position, there will be a short break in payments, I will contact you again in (insert your own timeframe) to inform you when payments will resume.

    In the meantime I will keep you updated with any developments, and during this time please refrain from contacting me except in writing.

    Yours sincerely
    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/
    • BeingDebtFreeStartsHere
    • By BeingDebtFreeStartsHere 7th Jul 17, 9:23 PM
    • 258 Posts
    • 782 Thanks
    BeingDebtFreeStartsHere
    Try something like this :


    Dear creditors,

    As you are aware I have been repaying my indebtedness to you via a stepchange debt management plan, this has worked well for me, but the time has now come for me to regain control over my finances, and as from (insert date) I will be self managing my own financial affairs.

    To allow me to organise my plan, and to assertain my position, there will be a short break in payments, I will contact you again in (insert your own timeframe) to inform you when payments will resume.

    In the meantime I will keep you updated with any developments, and during this time please refrain from contacting me except in writing.

    Yours sincerely
    Originally posted by sourcrates
    sourcrates - you are a star!

    Thank you so much
    LBM - August 2014
    DMP - started October 2014
    Total Debt Sept 2014 - £70,905.57 Apr 2017 £56,116.31 (20.8% paid) but proud to be in control and paying back what we've borrowed
    • alianza
    • By alianza 8th Jul 17, 12:32 AM
    • 26 Posts
    • 29 Thanks
    alianza
    Haven't posted for ages as nothing has happened much.
    16 k debt with Cabot. Did a CCA request in January, received a letter stating they will send it when they receive it from the original lender (Lloyds) and have heard nothing for over 6 months now so I am hoping it stays that way.
    A couple of 1k debts with PRA that were old MBNA cards also CCA requested in January, one they admitted was unenforceable the other they said was enforceable, sent a crappy photocopy that I then said wasn't good enough and all that has happened since then is they send me an offer to settle at 90% every month or so whilst threatening loads of stuff that just doesn't happen so i am happily ignoring those as well.
    I have saved myself a lot of money that I was paying my fairly useless DMP provider and have put that towards paying off the couple of recent debts that did need to be paid, Thanks for all the advice on here and going self managed was the best thing I have done recently.
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