DMP & Mutual Support Thread - Part 8

Time_to_face_the_music

Hopelessly_Hopeful wrote: »

Morning All

Hope everyone is keeping dry.

I've been a rebel and updated my signature a little early - the excitement of payment months going into the thirties and months left into the teens was too much to excitement to cope with.

HHx

Ugh vile weather here and have to go to work

Oh well, am trying to think of the overtime and Christmas being just a month away :rudolf:

I updated mine early too but didn't quite make the 20% due to reduced payment this month. I have to say yours looks fan-flippin-tastic :j :T

Time_to_face_the_music

DaveK1971 wrote: »

Cheers HH.

It was the Cashminder I was advised to go for, didn't realise CoOp do another basic account.

We opened a Co-Op bank account just before we started the DMP and as we were up to date with payments on all debts and hence our credit report wasn't in our boots at the time, they gave us a standard account rather than a Cashminder. I think this is what HH has too.

Hopelessly_Hopeful

Time_to_face_the_music wrote: »

Ugh vile weather here and have to go to work

Oh well, am trying to think of the overtime and Christmas being just a month away :rudolf:

I updated mine early too but didn't quite make the 20% due to reduced payment this month. I have to say yours looks fan-flippin-tastic :j :T

Nearly 20% is good and at least you will start new year in the 20s!

Hope work is not too painful.

HHx

Hopelessly_Hopeful

Thought the newbies that are having problems with the creditors saying no to accepting DMP payment offer may be interested in reading this. Please see section on financial difficulties from page 28. Note that the voluntary code states they should work with not for profit organisations etc but that they should give due consideration to self managed too. Also states they should not refuse payment offer etc

http://www.lendingstandardsboard.org.uk/docs/lendingcode.pdf

Hope that helps

HHX

Growurown

Hopelessly_Hopeful wrote: »

I've been a rebel and updated my signature a little early - the excitement of payment months going into the thirties and months left into the teens was too much to excitement to cope with.

Rebelling and staying up late.:eek:

I am in admiration of your signature, because tbh I don't know how much I still owe or my debt free date. I updated my balance at my first annual review a few months back and keep an eye on who is charging interest and check no one has reinstated interest, but I think I am going to have to get my act together. Otherwise you might chuck me out of the geek club:eek:

Enough_Now

Hi all

Looking for some guidance re. new DMP.

Some of my DMP payments (4/9) will actually be for more than my contracted minimum. Does anyone have any experience of reduced interest being applied to credit cards where this happens or have they continued with their normal extortionate rates? Also have these companies acknowledged the DMP or just ignored all correspondence?

Any assistance will be greatly appreciated.

EN xx

DaveK1971

Hi, new to DMP myself but some of my DMP payments to creditors will be higher than the contracted payments. So far 2 creditors where this is the case have acknowledged DMP but rejected offer. Part of me can't help thinking I'd have been better doing a self managed DMP for just the payday stuff but then the more level headed side of me thinks StepChange are the experts so must know what's best.

Squidge123

I've been reading the posts and realised I haven't posted for a wjile.
My DMP stuff came through. I'm going to hold off until after feb before I sign up so that I can get myself some savings up. I have my MOT and Tax due in Feb. I also have 2 parking tickets to sort out. One I need to pay and one I'm challenging.
That way I'll have the money Stepchange already know, the reduction in my car insurance and any extra money from the parking tickets to go into my DMP

Growurown

Sorry haven't had any experience with payments being higher on a DMP and whether creditors stop interest. From what I have read on the forum and in my experience using Stepchange or similar organisation is more acceptable to creditors and it is nice to have the support of professionals. It is a problem though for some people when SC are so strict about how they work out and pay the amounts to each creditor.

As you have just started your DMP's DaveK and EN I would give it a few months to let things settle down and then review the situation.

Earthmother_2

Hi everyone,
I've not posted in a while but have been lurking. The DMP has been running since April and apart from monthly default notices and fake solicitors letters from Lloyds, it all seems to be going smoothly.

I am a bit worried about our review in January though. We have an extra debt now from overpayment of tax credits from years ago. We are paying HMRC back over three years, but this is coming out of our food budget. When we have the review I am guessing they will expect the DMP payment to go up, but the shopping is dearer now even though we are frugal. I don't see where we can save anymore money to pay extra. I'm hoping Lloyds don't start off being arsey again and put interest back on the CC.

How have you all handled your reviews?