DMP & Mutual Support Thread - Part 8

Julie67

Thanks for the replies Mossop and TTFTM. I will try emailing. I'm just concerned about how long it would take to deal with things. Anyway I'm sure it will be fine.
We have decided once the tax refund arrives we will pay off the mortgage arrears and use the extra £100 in the budget to throw at the debt. Not much but better than before.
My paperwork went off yesterday. How long does it usually take for SC to set things in motion and give you a start date?
Sorry about the set back with the bank account Madgirl, I'm sure you will get it sorted soon.
We have decided to open a separate account for dh to pay his wages in. That way he can pay for business expenses such as petrol advertising and parts and transfer a set amount each week to our joint account.
It's funny once you decide to go down the DMP road you expect things to happen straight away, at least we are not getting calls or letters yet:eek: scary. Have a good evening all Jx

Madgirl

Hi

I sent my paperwork off by email today and got a text saying that my plan was set up and my payment will start 1st March. They'll now send payment details to my creditors and then I'll see what their response is. Has taken no time at all to get the plan actually set up, just waiting for the next steps now.

Scared for creditor reactions, but definitely doing the right thing. And they can't have what I don't have

Madgirl x

Mossop01

Hi julie, once paper work was sent DMP was set up 3 days later, was really quick.
Hi madgirl, good luck with everything
Onwards n upwards!

Growurown

:hello: Hi Mossop, Madgirl and Julie. I have been on my DMP for over a year and a half now and it is ticking along without too much hassle. The start is always tricky until things settle down, but eventually all the niggles will be ironed out and things will be fine.

You have to keep on top of things. For example some creditors will want an update from SC every 6 months, Halifax is one that does this, but I am keeping a note on the calendar now as they have stung me for some charges because we were late in providing the information. Don't assume your statement from SC is accurate because they don't know how much interest your creditors are charging. Check your balances regularly and update them via the website.

Good luck on your DMP journey.

Mossop01

Thanks growurown i didnt realise that, do stepchange not get a copy from the creditors too? Or should i be informing stepchange of interest charges? Sorry if being thick!

Julie67

Thanks for the info growurown. I will keep an eye on this. Good to hear from someone further on in the process.
Still waiting for tax refund, I can't imagine they will rush it through

Hopelessly_Hopeful

Mossop01 wrote: »

Thanks growurown i didnt realise that, do stepchange not get a copy from the creditors too? Or should i be informing stepchange of interest charges? Sorry if being thick!

It is reasonable to expect this isnt it! Neither SC or payplan do this though. Just make sure you keep your own records in simple tables. You dont need to be a computer wizz. I have limited excel knowledge and quite enjoy doing things manually and looking at what ifs etc. Excel is really useful for displaying this but not essential. SC arent interested in the charges just that you keep paying! DMPers soon see that no one will look out for your money and interests than you can. It's all good though as it puts you back in the driving seat.

HHx

Mossop01

Thanks HH, i quite like the idea of having some kind of control, so this is my next aim, to sort out somekind of spreadsheet to keep me up to date with goings on, afterall it is our debt so cant shirk all responsibilty for it. Just a quickie tho.... What do i need to notify SC? Is it only if debt is sold on? Or is there anything else i need to be aware of? Cheers

Time_to_face_the_music

Mossop01 wrote: »

Thanks HH, i quite like the idea of having some kind of control, so this is my next aim, to sort out somekind of spreadsheet to keep me up to date with goings on, afterall it is our debt so cant shirk all responsibilty for it. Just a quickie tho.... What do i need to notify SC? Is it only if debt is sold on? Or is there anything else i need to be aware of? Cheers

You can be part of our spreadsheet geek club :rotfl:

You need to tell StepChange if you are notified that debt has been sold on but again you can do this online by updating your records.

As HH has already said, the really important thing is to keep your balances up to date as neither StepChange or Payplan add on any interest if it is still being charged.

They state that they do ask creditors to stop interest at the set up of the DMP but after that, it is up to you to fight for your interest to be stopped by complaining to the creditor and then taking it to the FOS if necessary.

RonniesMummy

Evening all,
Today for the first time since I can remember (!) I have received no phone calls, no text messages, no letters or emails, I hope beyond hope this is the beginning of the creditors noticing they wont get far if they ignore the fact I am on a DMP!

Glad to see everyone else is doing well, I want the 23rd to come now so I can begin to see my debt decrease!

I am currently trying to see if I can get a better deal on my electricity and gas, wish me luck!

x