DMP & Mutual Support Thread - Part 8

stupid-fool

grant1wish wrote: »

Hi All,

Got my first default letter from Santander for a dormant Overdraft.

Just wondering as it is an overdraft that is not over it's limit can they actually default me as there are no terms regarding minimum monthly payments. For 12 months I haven't paid anything to it, now I am paying £12 a month via SC they are defaulting me.

Not concerned by the default, sooner the better but just unsure if they should be doing it or not.

Thanks

G1W

Lloyds TSB defaulted 2 of my credit cards which had never been in arrears as soon as they were contacted by StepChange, so it seems that they can do it.

iwilldoitthistime

Is anyone else worried by Defaults?? I cant seem to get past the panic every time theyre mentioned! Looks like ll*yds will default my OD, CC and loan but there's no sign from my other 3 creditors. Ive been on the DMP for just over six months so hopefully they will come soon and get it over with.

Hopelessly_Hopeful

Evening DaMPers

Defaults are good, best outcome as they are cleared soonest

MMMMMM GUO where's the invite,,,, yummy

Bottle of audi red.... oops aldi red (wishful thinking), blanket, children in need and tissues will sort me out for the weekend!

Hope everyone ok

HHx

Hopelessly_Hopeful

pmhtuk wrote: »

I've successfully claimed back my charges (and interest) from Creation Finance for the charges they applied when going over the credit limit and for late payment

Credited to account, so balance has dropped more. Yay!

Well done x

bertman

I have had an email from HSBC asking me to contact them. They have done this every month since we started on the DMP, they keep saying they haven't had any letters from Step Change / CCCS. Strange as everyone else has. I will leave it as I will just explain the same again to them. They can ring me or write to me this time. Perhaps they need to get their own house in order...

Other than that everything is moving along nicely!

Hopelessly_Hopeful

bertman wrote: »

I have had an email from HSBC asking me to contact them. They have done this every month since we started on the DMP, they keep saying they haven't had any letters from Step Change / CCCS. Strange as everyone else has. I will leave it as I will just explain the same again to them. They can ring me or write to me this time. Perhaps they need to get their own house in order...

Other than that everything is moving along nicely!

What a nuisance for you. Have you sent a letter recorded delivery?

HHx

antonic

I wouldnt recommend sending things recorded delivery due to the cost and thr fact anyone could sign for it !.

Instead, I would send by normal post and ask for proof of postage (which is free) and acts as your receipt.

(When business`s had to complete paper VAT returns in the past, HMRC would act a proof of postage as exactly that - proof that the return had been sent !).

Hopelessly_Hopeful

Hi Atonic

The problem with proof of pastage is it only measures sent but not received. With recorded it has to be signed for at the company etc, it has served me well many a time!

HHx

bertman

stupid-fool wrote: »

Yes, we've had that letter too - and whilst I recognise that we do have a high income, we're also in financial difficulty (self inflicted in my case but also resulting from the greed of the lending institutions) so removing the benefit will only make matters worse - how is that good for my kids to be facing university in a household with no disposable income?

I feel strangely embarrassed about this whole situation regarding child benefit. I will also lose a percentage of child benefit, I accept that I am a high earner, but we are in financial difficulties due to our business collapsing which has left us with all this debt. Life should be pretty rosy for us, in an ideal world the loss of child benefit wouldn't bother me, but at the moment its come in pretty handy for nappies, etc. The big problem now is that if I get a pay rise now in work it would be pretty much knocked out by a bigger reduction in benefit..

I remember when I first came onto this forum and posted my SOA, one poster was really critical of me - how could I be in debt with such a large monthly income etc. Well, all I can say now is that we are all in the same boat. The % we all owe on this forum causes problems whatever you owe and having any cash taken away from you hurts.....

That being said I was hoping that I could start changing my signature and showing a redcuction by this month but the total shot up in the first two months of entering the DMP due to charges being added, it is coiming down now but still almost £200 more than nwhen we started. From next month though it will start reducing. Life is so much better now though than before the DMP, we have no contact with any creditors apart from the monthly statements so we can at least get on with life. Budgeting isn't a problem as we had budgeted for nearly 2 years before the DMP and haven't used any CC's for years now, if we can't afford it - well we wait till we can!

Time_to_face_the_music

bertman wrote: »

I feel strangely embarrassed about this whole situation regarding child benefit. I will also lose a percentage of child benefit, I accept that I am a high earner, but we are in financial difficulties due to our business collapsing which has left us with all this debt. Life should be pretty rosy for us, in an ideal world the loss of child benefit wouldn't bother me, but at the moment its come in pretty handy for nappies, etc. The big problem now is that if I get a pay rise now in work it would be pretty much knocked out by a bigger reduction in benefit..

I remember when I first came onto this forum and posted my SOA, one poster was really critical of me - how could I be in debt with such a large monthly income etc. Well, all I can say now is that we are all in the same boat. The % we all owe on this forum causes problems whatever you owe and having any cash taken away from you hurts.....

That being said I was hoping that I could start changing my signature and showing a redcuction by this month but the total shot up in the first two months of entering the DMP due to charges being added, it is coiming down now but still almost £200 more than nwhen we started. From next month though it will start reducing. Life is so much better now though than before the DMP, we have no contact with any creditors apart from the monthly statements so we can at least get on with life. Budgeting isn't a problem as we had budgeted for nearly 2 years before the DMP and haven't used any CC's for years now, if we can't afford it - well we wait till we can!

Hi bertman :hello:

The child benefit thing is a total farce, only this pathetic excuse for a government could come up with such a ridiculous scheme. I truly believed they would do a full u-turn on it, as they have with so many other stupid ideas, but they seem determined to see this one through and it's going to hurt a lot of people and make many more very angry.

I had the same issues here with our salaries, OH and I both earn a good amount and we were in shock at how much our life style had to change over a couple of years. Someone made a comment to me about being in our situation due to overspending and getting into more and more debt. I was incandescent with rage and pointed out that it was actually a flood in our house that got us where we are now and I still feel like we are in no way to blame for what happened. The credit was there to pay the repair bills so we used it, the shock came when how quickly £37,000 turned into £81,000 and we suddenly couldn't meet our minimum payments. You must feel the same way over the collapse of your business.

The first couple of months on the DMP can be extremely tough when you see your payments going nowhere and your debt increasing instead of decreasing. Although I couldn't see it at the time, Lloyds TSB were actually good to us and increased my OD limit to stop over limit charges. NatWest unfortunately weren't and hit us with £6 a day over limit charge plus usual fees and interest which completely wiped out the CCCS payment and more. In the end, we saw red and paid an extra payment to bring the OD back within the limit so we did not see this going on forever. We are still at war with NatWest but 9 months down the line, the £4900 OD now stands at around £1800. The third month of the DMP was the one when we really started to see results so fingers crossed it is the same for you.

Getting on with life is what it is all about. I can sleep now and don't dread the sound of the phone or the letter box. There is no huge unopened pile of letters in the hall and I don't take things to work to shred them in the hope they will go away any more. I am impatient and it's not fast enough for me but we are getting there and you will too. I am really looking forward to seeing your updated signature at the end of the month, be loud and be proud with it and we will all celebrate with you.

TTFTM x