DMP & Mutual Support Thread - Part 8

Hopelessly_Hopeful

Earthmother wrote: »

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?

Hi

Tax credit is a priority debt so they should review your dmp accordingly. You should not in any way be expected to take this from your food budget. Foods one of life's neccessities, its the entertainment that needs to be cut back on a DMP not life's basics.

I'd call them and get a review now rather than January as the extra will help you at Xmas

Who knows if Creditors will kick off, sometimes they do sometimes they dont. It can be dealt with, try to worry about things when they do rather than when they might happen. The lower you pay them the more chance you have of getting to stop or reduce interest.

Hope that helps

HHx

Freshstart2012

Hi

Give StepChange a call ASAP, they have always been great when I have called for a review. At my first review I was able to increase my monthly deposit but at my second review I had to decrease it to lower than my original deposit. As the guy who helped me said "they can't have what you haven't got"
Yes one of my creditors wouldn't accept a reduced payment but after a letter was sent to The MD they played ball.
Good Luck.

savvykaz

Hi, just wanted to tell you what we had to do.
We set our DMP up with CCCS in June this year and my DH had only been in his current job for 4 months and as he's self-employed I had to guess at his earnings; the next 3 months he earned considerably less than we'd budgeted and I HAD to phone CCCS as we weren't coping, they did a review end September and our payments reduced by £102 a month. I dreaded what our creditors would say but so far they have just accepted the lesser amounts and written to confirm they accept them. I think when they see the figures CCCS give them then there's no point being arsey as you physically have NO MORE MONEY to give them!
I would also advise you get in touch with Step Change and do a review now, that way you can relax a little over Xmas and start the new year afresh xx

BevieB

Just had a call from IQOR who informed me that they have bought my CC debt from the Halifax. The good news is that we wont be charged any interest. For the past year I have paid about £100 off a £12,000 debt as the Halifax would not freeze interest and the FOS were no help.
Has anyone had any dealings with this company?

Growurown

BevieB wrote: »

Just had a call from IQOR who informed me that they have bought my CC debt from the Halifax. The good news is that we wont be charged any interest. For the past year I have paid about £100 off a £12,000 debt as the Halifax would not freeze interest and the FOS were no help.
Has anyone had any dealings with this company?

No sorry but Halifax are our only creditor to continue charging interest. Quite a few of our debts have been passed on to DCA's and they have all accepted the same payments as the original creditor and have been OK to deal with. Hopefully IQOR will be OK and it is certainly good news that interest will stop considering the size of the debt.

BevieB

Growurown wrote: »

No sorry but Halifax are our only creditor to continue charging interest. Quite a few of our debts have been passed on to DCA's and they have all accepted the same payments as the original creditor and have been OK to deal with. Hopefully IQOR will be OK and it is certainly good news that interest will stop considering the size of the debt.

Thanks, We have been on DMP for just over 12months and had to reduce our payments at last review so I think that made the Halifax sell on. They have been a real pain in the ar--.

Growurown

BevieB wrote: »

Thanks, We have been on DMP for just over 12months and had to reduce our payments at last review so I think that made the Halifax sell on. They have been a real pain in the ar--.

Absolute pain in the a*** I quite agree.

It's nice to know that my interest is being well spent on the Halifax choir's singing lessons. :rotfl::rotfl:

Hopelessly_Hopeful

Growurown wrote: »

Absolute pain in the a*** I quite agree.

It's nice to know that my interest is being well spent on the Halifax choir's singing lessons. :rotfl::rotfl:

:rotfl::rotfl::rotfl:

Ellieseleven

Hopelessly_Hopeful wrote: »

Morning All


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

I know what you mean HH, ours debt is heading to the 30k mark and I can't wait to see it go below! :T

lizzy23

Hello all, is it right to get excited about a Default notice, i have had my first through from nat west and positively cheered