DMP & Mutual Support Thread - Part 8

sickasachip13

Hayz, they'll probably ask why you haven't budgeted for it - I know this isn't what you want to hear though :-(

But, if there are good reasons why you haven't budgeted, or if your funds have been used up by an emergency or similar that you didn't tell them about...

Anyway, it's worth asking. The worst they can say is no.

SAAC

jonsurrey

Trying to sort out bank accounts at the moment before setting up the DMP really getting worried about opening a can of worms but know we will get sorted in the end, any advice on bank accounts would be good as have debt with halifax, barclays, santander, to name but a few and trying to sort out who is linked with which banks is really doing my head in!

grant1wish

I took one out with Natwest, and so far everything has been fine.

sickasachip13

jonsurrey wrote: »

Trying to sort out bank accounts at the moment before setting up the DMP really getting worried about opening a can of worms but know we will get sorted in the end, any advice on bank accounts would be good as have debt with halifax, barclays, santander, to name but a few and trying to sort out who is linked with which banks is really doing my head in!

Quite a few folk go with the co-op. Might be called 'cashminder' account?

SAAC

Growurown

jonsurrey wrote: »

Trying to sort out bank accounts at the moment before setting up the DMP really getting worried about opening a can of worms but know we will get sorted in the end, any advice on bank accounts would be good as have debt with halifax, barclays, santander, to name but a few and trying to sort out who is linked with which banks is really doing my head in!

We went with First Direct but they are linked to HSBC. They seem pretty good although I have no doubt that should we ever owe them anything and can't pay they would not be so friendly. BUT we aren't going back to owing any bank anything so its all OK.

antonic

Thanks DD !

As I said in my post , as I have already nearly done 7 years a few extra months means nothing !.

Dont worry, you WILL get there !.

debtdawg wrote: »

You are so very nearly there Antonic, although the slight delay maybe a little disappointing, to be able to see the debt free days so clearly in sight must feel amazing, well done

stupid-fool, we've had one letter back so far from the creditor letters we sent out just over a week ago. It was from MBNA to say thanks for letting us know about your financial difficulties, we've taken away your credit facilities but need to remind you to pay your minimum repayments to avoid interest and further charges which form part of our terms and conditions. Cheers then MBNA
I've just made our token repayments, some by online payments from my old Lloyds account and I've written two cheques to send for the loan repayments due this month for a token amount of £1. I'm also ready to send the letters to my bank (Lloyds) as all my direct debits have been transferred, eeeeeeeek!

Growurown- thank you for your continued support, it's really helping through these uneasy few weeks

stupid-fool

I'm having a strange day today and I think I need some advice.

Firstly I got my StepChange password today :-) so I logged in and decided to correct any wrong balances. When I logged into my Asda card account (Santander) I found a small £5ish interest refund. Is this likely to mean that they are going to reduce/stop interest charges? Normal interest charge is around £50 per month.

Second is that despite not yet having missed any payments my wife received a default notice relating to her Lloyds TSB CC stating that she's broken her agreement and they require full repayment including the arrears of £0. It scared the life out of her as I hadn't warned her about defaults intending to do it when we fell into arrears. I'm away from home this weekend so haven't seen the letter, but should I be worried about the request for immediate repayment or is it a standard default notice? Also how can they default me when I'm not yet in arrears, and is this actually a good thing meaning interest is going to be stopped?

Thanks for any help

stupid-fool

jonsurrey wrote: »

Trying to sort out bank accounts at the moment before setting up the DMP really getting worried about opening a can of worms but know we will get sorted in the end, any advice on bank accounts would be good as have debt with halifax, barclays, santander, to name but a few and trying to sort out who is linked with which banks is really doing my head in!

We are only just starting our DMP but have switched to First Direct (part of HSBC) and so far I'm very impressed. I did have to ask them to remove the £500 overdraft they gave me though

As said previously I'm sure they would be just like the others if we got into trouble, but hey I'm already wearing that T-shirt

debtdawg

DMP has been set up, after a slight adjustment to the budget (they'd counted something as an income when it isn't and we had to change the petrol/parking section). Our payments will be £298 a month and our debt total is around £30500 (need confirmation from a loan company about total owed) and this excludes my student grant overpayment which I need to start repaying next July. But it does include a nearly £5k other overpayment which I didn't realise could be included.

It's going to be a long journey but I am hoping that once DH and I are qualified and earning half decent money, we'll be able to make a much bigger contribution each month and get it cleared faster!

lizzy23

debtdawg wrote: »

DMP has been set up, after a slight adjustment to the budget (they'd counted something as an income when it isn't and we had to change the petrol/parking section). Our payments will be £298 a month and our debt total is around £30500 (need confirmation from a loan company about total owed) and this excludes my student grant overpayment which I need to start repaying next July. But it does include a nearly £5k other overpayment which I didn't realise could be included.

It's going to be a long journey but I am hoping that once DH and I are qualified and earning half decent money, we'll be able to make a much bigger contribution each month and get it cleared faster!

About the same as us:):) i look at it this way, thats the past and now is the start of the rest of our lives, :)don't know what i've done but i'm going to have money left at the end of the month to put back into our emergency fund, very strange seeing a bank account of mine in the black