DMP & Mutual Support Thread - Part 8

debtdawg

stupid-fool wrote: »

This is typical Lloyds TSB - we had (until this week) a Premier Account with them and quite a high income. Despite our level of debt they still gave me similar flannel on the phone this week.

I had been feeling quite guilty about my situation, but I'm starting to see that they've been like the drug dealer outside the school gates, happily feeding us as much credit as they can for profit.

Tell me about it! We rang Nationwide and asked them for a loan statement after telling them about our financial difficulties, they sent it through with an offer of an extra loan on the bottom.:mad:

Time_to_face_the_music

iwilldoitthistime wrote: »

Weve been on our DMP for 6 months now and the companies are all starting to default us. Lloyds have eventually given us the interest back that theyve been charging on the overdrat (around £40 a month!) and sent the account to collections to default it. My Lloyds credit card have written to say they have finished the six month period they originally gave at lower interest rate, so I think thats heading the same way. MBNA wrote today about defaulting if we dont pay the underpayment for the last six months (around £900) by the end of November they will default.

So - not a great feeling, but I suppose the sooner they default us, the sooner it will be over.

Has anyone had any experience of Barclaycard defaulting? They are my only other creditor and I havent heard from them (yet)

This is another example of how creditors play it different with every debt and there are no hard and fast rules. We too have debts including a Lloyds TSB OD, a Lloyds TSB CC and a MBNA CC and after 9 months, none of them have been defaulted. I swear they make it up as they go along! :wall:

Well done on getting FOS to stop Lloyds TSB interest on the OD :T

That worked for us too but not on the CC, though they do charge a lower rate of interest .... but are threatening to reintroduce full interest as we are very close to the minimum payment level :mad:

Growurown

stupid-fool wrote: »

I had been feeling quite guilty about my situation, but I'm starting to see that they've been like the drug dealer outside the school gates, happily feeding us as much credit as they can for profit.

Ah stupid-fool you have seen the light!! Never feel guilty - not after the way the banks have cheated us.

Tigsmom wrote: »

I had to hold back my tears as I was packing them! It was great for the kids though.

Well done Tigsmom, what a great thing to do and a humbling experience. I bet your children will grow up with great values and will be much more appreciative now of all the good things they have in life.

debtdawg

I *think* our DMP should be on its way to being set up now as we've ironed out most of the niggly issues with CCCS (SC?).

Feel so drained today! This has been a real emotional rollercoaster already

Growurown

debtdawg wrote: »

I *think* our DMP should be on its way to being set up now as we've ironed out most of the niggly issues with CCCS (SC?).

Feel so drained today! This has been a real emotional rollercoaster already

Chin up debtdawg, the hard work is over now and when your plan kicks in and everything settles down you won't even notice it! Go and treat yourself to your favourite tipple, that would be a cuppa in my case, and congratulate yourself on a job well done.:j:j

debtdawg

It sounds really silly but I just want to be able to breathe again! Right now I feel wound so tight waiting for the plan to be set up and for everything to get rolling, it feels horrible.

I do have to say though that everyone at step change have been so nice, helpful and friendly. It's made it a lot easier to go through by dealing with them, they've really been amazing so far.

Growurown

debtdawg wrote: »

It sounds really silly but I just want to be able to breathe again! Right now I feel wound so tight waiting for the plan to be set up and for everything to get rolling, it feels horrible.

I do have to say though that everyone at step change have been so nice, helpful and friendly. It's made it a lot easier to go through by dealing with them, they've really been amazing so far.

Not silly at all, and rest assured you will be able to breathe again! The relief we felt when we finally took control of our finances was immense and yes the credit rating is rubbish but we are so much happier and relaxed now having dealt with our debts. I panicked at the thought of not having credit there to fall back on but it hasn't been nearly as difficult as I thought.

It may feel horrible now but it will get better - promise.

stupid-fool

debtdawg wrote: »

It sounds really silly but I just want to be able to breathe again! Right now I feel wound so tight waiting for the plan to be set up and for everything to get rolling, it feels horrible.

I do have to say though that everyone at step change have been so nice, helpful and friendly. It's made it a lot easier to go through by dealing with them, they've really been amazing so far.

We feel exactly the same at the moment. The StepChange letters to our creditors went out last Friday, and when I spoke with Lloyds TSB on Monday they told me that they'd had the letter. Now I just want to know what their responses are.

We had our welcome pack by email confirming the DMP was being setup, and today I got the confirmation of the direct debit from StepChange so I know things are happening, but I feel that I need 2 more things before I can start to relax a little:

1. Stupid as it sounds, the username and password for the StepChange website just to see my plan in the flesh
2. The responses of the creditors - non have written back to me yet

Of course once I have those, the next big step will be my first payment. After that it will be the first payment from StepChange to creditors, and so on. I guess it will get easier a few months in.

antonic

Just got an update from Payplan on my settlement figures ...........

and its good news and bad news (depending on your point of view)!.

The good news is the total balance ouststanding (inc HBOS interest) is approx £1955.82

The bad news is that my DFD of 02/12/12 has been delayed by approx 5 months to 02/05/13 but this will clear the WHOLE debt.

(My original plan had been to negotiate with HBOS separately after clearing everything else and to repay that debt over a while).

Am I disappointed you may ask about it being extended by 5 months ? Yes and no is the answer !

Yes - because I wanted to be DF for the New Year
No - because I would have cleared everything, and as I have already done 83 months on the DMP (out of a projected 84) , I dont see a further 5 months as a problem.

So I have told Payplan I am happy with this and my sig will be adjusted to reflect my NEW DFD *should* be 02/05/13.

lizzy23

antonic wrote: »

Just got an update from Payplan on my settlement figures ...........

and its good news and bad news (depending on your point of view)!.

The good news is the total balance ouststanding (inc HBOS interest) is approx £1955.82

The bad news is that my DFD of 02/12/12 has been delayed by approx 5 months to 02/05/13 but this will clear the WHOLE debt.

(My original plan had been to negotiate with HBOS separately after clearing everything else and to repay that debt over a while).

Am I disappointed you may ask about it being extended by 5 months ? Yes and no is the answer !

Yes - because I wanted to be DF for the New Year
No - because I would have cleared everything, and as I have already done 83 months on the DMP (out of a projected 84) , I dont see a further 5 months as a problem.

So I have told Payplan I am happy with this and my sig will be adjusted to reflect my NEW DFD *should* be 02/05/13.

But still nearly there, not just starting like the rest of us.

I feel a bit in Limbo at the moment, our firts payment has gone to Step change, but the creditors won't get their payments for another fortnight.

Only bit of funny news is, i got offered a credit card last night:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:because i'm such a good payer