DMP & Mutual Support Thread - Part 9

debtfree77

LocalAngel wrote: »

This is good news. Well done. It encourages me to get on with mine. I've applied for new bank account but haven't heard anything yet and I've been putting off dealing with the rest of it - very nervous about contacting creditors but I will do it tomorrow.

You sound like you are at the same stage as me. Im going to pop into Co-op tomorrow (Forgot Photo ID) to set up an account, but im the same as you, contacting the creditors initially is worrying me slightly along with the initial fallout from the whole situation. I would love to fast forward 6 months + when everything has calmed down.

Find_The_Real

Hello All

Just wanted to say a big welcome to the newbies and to wish you luck on your DMP journey.

Also good luck to those that are still trying to get creditors to play nicely, just be a pain in the **** and don't give up. I personally see it as my mission to remind mine I haven't crawled back under my stone yet. It seems I may have upset the people dealing with my repossession, guess they aren't used to being questioned as their latest response was a bit snotty. :rotfl:

Hope everyone is having a good day.

LocalAngel

Hi everyone. Thank you for all the encouragement :A. I've managed to call some of my creditors today. Barclays and the council tax people were very helpful and I actually owe them both a bit less than I thought so that's good news. The one I haven't dealt with yet is Nationwide. I owe them loads in overdraft and a loan and they have frozen my current account. I know I have to speak to them but will save it for tomorrow. I also called the Cooperative bank but they haven't received confirmation of my ID and address which I took into a branch along with my application for the new current account, thinking it would speed things up . Someone from the branch was supposed to call me back to let me know what's happening but nothing so far.

A quick question - how do I go about getting interest and charges frozen? Do I ask each creditor or does Step Change do it, or do I just hope the creditors will do it of their own accord?

Good luck everyone!

Hopelessly_Hopeful

Find_The_Real wrote: »

Hello All

Just wanted to say a big welcome to the newbies and to wish you luck on your DMP journey.

Also good luck to those that are still trying to get creditors to play nicely, just be a pain in the **** and don't give up. I personally see it as my mission to remind mine I haven't crawled back under my stone yet. It seems I may have upset the people dealing with my repossession, guess they aren't used to being questioned as their latest response was a bit snotty. :rotfl:

Hope everyone is having a good day.

Wise words.

To those in their first year in particular or anyone under minimum repayments please do consider hounding them as you will have neigh on no chance of getting interest frozen or reduced once you reach minimum repayments. Also worth pointing out that your minimum payments alter as your debt decreases even though they don't necessarily state this on the statements. As a rule of thumb the new minimum payment is usually about 2% of your remaining debt.

Sorry you are still having hassle with the repo. Your right to question absolutely!

HHx

Hopelessly_Hopeful

LocalAngel wrote: »

Hi everyone. Thank you for all the encouragement :A. I've managed to call some of my creditors today. Barclays and the council tax people were very helpful and I actually owe them both a bit less than I thought so that's good news. The one I haven't dealt with yet is Nationwide. I owe them loads in overdraft and a loan and they have frozen my current account. I know I have to speak to them but will save it for tomorrow. I also called the Cooperative bank but they haven't received confirmation of my ID and address which I took into a branch along with my application for the new current account, thinking it would speed things up . Someone from the branch was supposed to call me back to let me know what's happening but nothing so far.

A quick question - how do I go about getting interest and charges frozen? Do I ask each creditor or does Step Change do it, or do I just hope the creditors will do it of their own accord?

Good luck everyone!

Well done

If you on relying on SC to do it you could be there a very long time. My advice is start writing to them when you receive your first statement.

Good Luck

HHx

Time_to_face_the_music

LocalAngel wrote: »

A quick question - how do I go about getting interest and charges frozen? Do I ask each creditor or does Step Change do it, or do I just hope the creditors will do it of their own accord?

Hopelessly_Hopeful wrote: »

If you on relying on SC to do it you could be there a very long time. My advice is start writing to them when you receive your first statement.

Am with my twin HH all the way on this one, start fighting it immediately.

The best piece of advice I was given when I started a managed DMP was "Never forget it's your debt". StepChange are there to distribute the money for you but you need to keep a very careful eye on your statements, alter your StepChange balance online each month if anything changes and be prepared to fight interest and charges.

If anyone does apply interest, fees or charges, start off with a letter of complaint to the creditor and then follow it up with a complaint to the FOS, if you don't get the result that you want.

If you need any help with letter templates or any other information, just give us a yell

Time_to_face_the_music

justapensioner wrote: »

What I am trying to do is find something part time but at my age it is quite difficult now. I did do a collecting job but it just got too much with targets and sales etc and also looking after an elderly mother so just had to give it up. And after trying to see if there is anything I can claim for looking after her - NO as I am drawing a State and small private pension. Can claim pension credit but all that comes to is £8.47 per week and that drops to £8.08 frome this month.

Have you had a look at the Up Your Income thread?

http://forums.moneysavingexpert.com/forumdisplay.php?f=145

There are some great ideas there for making some extra cash and also lots of survey sites, that pay out in shop vouchers etc.

I am in total agreement with zenshi, that is your £8.47 or even £8.08, so make sure you claim it. If it was mine, I would be treating myself to a bottle of wine and bar of chocolate or whatever rocks your boat

fairyboots

Time_to_face_the_music wrote: »

Are these 2 posts connected or do we have 2 people with DMPs with Churchwood?

Hi I'm so sorry it's the same person I forgot my password and then work blocked my web access so had to start afresh. Sorry for any confusion.

I am seriously thinking about stopping the dmp with Churchwood and agreeing my own/ creditors own payment plans. I think it will be best for me long run to show I am making effort not just to plod along with the dmp but to show I want to get myself out of this little mess.

I know the defaults will stay but at least I can now try eh.

Do I cancel DD with Churchwood and then call each creditor to tell them what the dealio is and then arrange a plan?

Can anyone advise me please. Also. I am aware that on the creditor pay back plan the interest will start again or will they keep the %0? Or shoot it straight back up?

Fb x

LocalAngel

Thanks to HH and TTFTM for your good advice. I'm so stressed out right now I can't quite work out what I'm supposed to be doing as regards letters to creditors. I keep reading the info from Step Change but I can't take it in, so templates would be very much appreciated if you have them handy. If not I'm sure I will calm down a bit soon and get more organised. I did make a bit of progress today and will do more tomorrow.

kel78

debtfree77 wrote: »

Hi,

What i have gathered is that normally the first few months are the hardest and once the creditors accept (Which i really hope they do !! ) its normally easier. I have 6 creditors owing approx £35K. Barclays, Barclaycard and NRAM. Does anybody have any experience with this do they normally accept or do they like to play hardball? any advice greatly appreciated !!

Hi, we had credit cards through Egg which were transferred to Barclaycard and they've been fine, also NRAM were fine - all have stopped interest and don't give us any hassle