DMP & Mutual Support Thread - Part 9

debtfree77

kel78 wrote: »

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

Thanks Kel78, Fingers crossed . Going to get my a coop account open today, so hopefully i can start transfering DD's and sending my letters out by the weekend.

javorb

debtfree77 wrote: »

Thanks HH, so hopefully they either dont default me or do it asap. Crafty gits !!!. Is a settled default better than a unsettled default or are they both as bad as each other?

Cheers

all of my creditors defaulted me except mbna ,they are all off of my credit file ,makes it worse i settled with mbna who were my highest creditor and they marked it as a delinquent account which stays on for 6 years,if they had defaulted me it would be off now and not another 3 years,mbna they will not default you if in dmp,so i would have been better paying reduced payments !!

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.

Hi LA, I just popped into my local Co-op and filled out the application form etc etc and the lady advise i should here back within a week. Have you heard anything back from them?

Reading the leaflet that you get from they advise they will open the account within 48 hours of recieving all the paperwork, so hopefully this will done asap, keen to get all my DD's transferred over.

vworried

Letters to creditors written and I hope that they look favourably on me as I am not yet behind with any payments.

Sitting back and waiting now.... it's silly but I am more worried now that I am doing something about it!

I opened my account with Co-op online and they are great, the stuff hasnt come yet but they sorted out the security for me over the phone and the account was up and running straight away. BUT then I moved everything into it and then remembered.... the card hasn't arrived yet so I cannot do any shopping!

Ox1987

Vworried i tried that but seems cant open a cashminder online

vworried

I just went for a basic account - I don't trust myself with an overdraft facility, lol. It went through fine. You could ring them, they are great and I would recommend them to anyone.

anxious2

Morning all! Hello to all the newbies, well done for being brave enough to take this massive, scary step. You will soon be sleeping soundly at night, I promise!!

It's been pretty quiet for us, we finally had our redress from NRAM, which took a chunk off the balance (see sig), and has knocked around 7 months off our DMP - now due to end June 2020, instead of in 2021 :beer: Still hoping to bring this waaay down though! Our first payment has gone to SC, and I'm on hot coals waiting for it to show on the online account. We had three contradicting letters about our Halifax loan last week - one demanding the arrears to be cleared immediately, one defaulting me, and one stating that we were in arrears, but not to take any action if we were on an agreed payment plan! I'm guessing these are all computer generated, and should be ignored...

I do have some questions about the default though. I'm guessing it's a proper default, as it says about it being issued under the consumer credit act, blah blah blah, and gives me 14 days to pay in full otherwise they may take court action etc? If it is a default, as it's a joint loan, why wouldn't my husband also be defaulted? It was addressed only to me. It also seems very quick, as we have only missed 2 payments, have made token payments on time each month, which have been cashed, and have been in constant contact. Anyway, I guess it's a good thing really, hopefully once they start receiving their money, they won't feel the need to take any further action. As it's a fixed sum loan, and the original payments were large, they are receiving a huge chunk of our DMP payment, so I really don't see what they've got to complain about!

Nothing more to report really. BOS have sneakily re-introduced full interest on OH's tiny CC, but I suspect this is because they expected the DMP to start immediately, whereas we told them it wouldn't be until April. Will wait and see what happens once they start receiving their money before I do anything. Barclaycard are charging 3% on all 3 cards, sounds like this is typical, so not sure whether there's any point in complaining?

Hope everyone is doing well, will try and stick around a bit more!

callie1982

PHEW!! I have just got off the phone to a few creditors explaining i am starting up a DMP with stepchange and asked for outstanding balances and account numbers! not as scary as I thought!! I phoned capquest as they are named on my credit file as holding one of the debts but they have said its archived and i need to email admin! bursting my bubble as i was on a roll!! i need to email them now before i chicken out again! and then i can send all my info to stepchange and have a big sigh of relief! some of these debts are old but i want them gone so i have tracked them all down myself ....i will give myself a pat on the back as i have been soooo nervous just cant wait for it to all be sorted and started up!!! good luck to anyone else whos thinking or just starting out they arent as scary on the phone as you think !! and if they are put the phone down and call back to speak to someone else xx

LocalAngel

debtfree77 wrote: »

Hi LA, I just popped into my local Co-op and filled out the application form etc etc and the lady advise i should here back within a week. Have you heard anything back from them?

Reading the leaflet that you get from they advise they will open the account within 48 hours of recieving all the paperwork, so hopefully this will done asap, keen to get all my DD's transferred over.

Hi Debtfree77,

I hope the opening of your new account goes smoothly. I still haven't heard anything from them so I will pop into the branch tomorrow and hassle them. My employer needs the details by Monday for pay day on 26th April.

On the positive side I've managed to call Nationwide and get my account unfrozen without telling them about the dmp. I haven't received any statements or been able to access the account online so I had no idea how much money was in it but it was actually in credit so I was able to clear my loan arrears. If I don't get the Coop account details in time and have to stick with Nationwide for another month I will just about manage.

I just want to say that I have been terrible at sticking my head in the sand for over a year now, not looking at statements, opening letters or answering calls from unknown numbers. Now I am finally facing up to my debts, I find that my situation isn't quite as bad as I thought (though it's pretty terrible - I owe around 20k including a year's council tax) but everyone I've spoken to at the banks and the council has been very helpful. With the help from Step change I feel that the repayments are manageable and I will get out of debt eventually

Good luck everyone!

bones65

I have been on a DMP for two years now and although my debts are slowly going down that is just it its slowly apprently my DFD is somewhere in 2022.
I have four creditors 3 are with companies who have bought my debt one with the original creditor.
I am currently 22k in debt having paid off nearly 2k since taking out the plan.
I have offered all four creditors a full and final settlement two responded negatively and two never replied. I have since made an improved offer to both these companies and await their response. My question is can i pay these debts off any quicker as i have noticed with some on this forum have paid nearly all their debts off in the time i have been on the plan, am i doing something wrong what advise can people give me

regards

andy