DMP & Mutual Support Thread - Part 9

Growurown

antonic wrote: »

I now have 10 days to go until I make my last DMP payment on 3rd June,

Woohoo!! Great news Antonic

Hopelessly_Hopeful wrote: »

Morning All

We will be celebrating with you Antonic.

I've just paid off the last of the M&S accounts yippee! Good riddance to 24.9% interest. Never again!!!

HHx

And a woohoo for you too! I hear M&S aren't doing so well maybe that's why the charge so much interest!

Time_to_face_the_music wrote: »

I still have just under £8K to go on my remaining M&S but at least I managed to win on the default and get this one frozen. Still waiting to see if I need to wage war on BOS this month .... watch this space

Way to go Ms TTFTM - you show 'em what's what:cool:

catandy

I've started to get responses back from my creditors to the offers made to them and so far its all positive. I had a call earlier today from Hellifax to say they accept both my offers and have frozen all interest/ fees on both accounts plus issued a default on each and handed it to their collections dept. I was so ready to do battle with them after reading other peoples experiences of them not freezing interest that I was quite disappointed that I didnt have to use my prepared speech

result

Hopelessly_Hopeful

Payday and signature update for me. 37 months in. Have paid 50k into the DMP, leaving £14 920 outstanding. Predicted interest load for the duration currently at 6k. Hopefully when I get paid this time next year the money will be all MINE!

Hope everyone has a good bank holiday weekend.

HHx

debtfree77

First off all congrats to Antonic !!! well done :T im looking forward to that debt free day !!.

My DMP seems to be going ok, no real hick ups yet and my first DMP payment has been paid to the creditors so please with that. I did try to log into my online banking to check but they have stopped my access so im assuming they have either just frozen my account or its been passed on, only time will tell i guess.

Barclaycard have put me on a 3% interest rate which isn't bad, should i pursure this to get it lower or should i just accept it? I know BC can play hardball sometimes.

Goodluck to all the newbies also it is hard to start the DMP but when your get there and payments start leaving your account the relief is amazing !!!

Find_The_Real

Hello Debtfree. Well done on making that first payment, hopefully it will be a relief that you are now into your DMP journey.

Barclaycard froze my interest straight away so at that percentage I would ask them to freeze the interest as I always feel there is never any harm in trying. I left the Black Horse one as it was a stupid number under 1% and on the balance is not making much difference especially as they are grabbing the highest amount of the pot on the lowest balance.

With the bank account have you checked it is still active as I found out my bank had closed my account when I couldn't log in online without actually telling me. If that is the case then you need to make sure they send you regular statements about the debt so you can see what is happening.

Back_on_budget

sillymeme wrote: »

. I heard today from MBNA, my largest creditor (I owe 12k to them- and it was on a disgusting 34% APR!!! Should never have let that happen...) that they have frozen all charges and interest and accept the payment offer. I expected much more hassle - but such a relief! (only 7 more creditors to go....)

The letter they sent states that my first payment is due by the 5th June, but I know it wont reach them until nearer the end of the month. Does anyone know how much this matters? I already missed a payment (though made a small token payment), do I send another small payment, or just ignore it and let it arrive at the end of the month? Or should I ask them to move the dates or something? Sorry, maybe silly questions - but I dont really want to upset them now theyve frozen the account.

We had much the same with MBNA. £13k credit card with high interest after the 0% deal ran out and could move it anywhere else! MBNA were the first to freeze interest and have been no hassle at all.

We had a number of creditors send letters giving a payment date that was before step change were due to send the payments. First time it happened, we got letters from Lloyds saying we had broken the terms of our agreement and that they were now not accepting the DMP. Managed to get it sorted after a few more letters, but learnt that it is easier to get back I touch straight away, and get them to change the due date straight away.

The cynic in me says they know when they will be paid by the DMP, and put an earlier date to catch us out.

I think thing most valuable lesson I've learnt during the processes is to deal with things head on, as soon as they arise. Otherwise small things can turn into big things...

debtfree77

Find_The_Real wrote: »

Hello Debtfree. Well done on making that first payment, hopefully it will be a relief that you are now into your DMP journey.

Barclaycard froze my interest straight away so at that percentage I would ask them to freeze the interest as I always feel there is never any harm in trying. I left the Black Horse one as it was a stupid number under 1% and on the balance is not making much difference especially as they are grabbing the highest amount of the pot on the lowest balance.

With the bank account have you checked it is still active as I found out my bank had closed my account when I couldn't log in online without actually telling me. If that is the case then you need to make sure they send you regular statements about the debt so you can see what is happening.

Cheers FTR, i will write them a letter and try to get them to reduce it again, no harm in trying. Also i have been reading that Barclaycard dont like defaulting you? Is this true? what experiences have anybody else had? It seem they like to keep you on a AP so they can keep making money off you.

Growurown

Hopelessly_Hopeful wrote: »

Payday and signature update for me. 37 months in. Have paid 50k into the DMP, leaving £14 920 outstanding. Predicted interest load for the duration currently at 6k. Hopefully when I get paid this time next year the money will be all MINE!

Hope everyone has a good bank holiday weekend.

HHx

:j Well done HH, it's a great feeling knowing you will be debt free soon!

Have a good weekend too and hope everybody has a good Bank Holiday.

Find_The_Real

debtfree77 wrote: »

Cheers FTR, i will write them a letter and try to get them to reduce it again, no harm in trying. Also i have been reading that Barclaycard dont like defaulting you? Is this true? what experiences have anybody else had? It seem they like to keep you on a AP so they can keep making money off you.

I certainly have an AP marker with Barclaycard so in my experience it is certainly true. In fact overall I only have 2 defaults and they are to do with my mortgage. Maybe someone else can help with how to get them to default as a lack of that for me isn't really going to be an issue for me once I get the mortgage shortfall figures, otherwise I would be onto it!

*Foolish*

Well, I am very impressed with StepChange, and how quick everything has been done, its been a week since my LBM and the day I contacted them and my first DMP payment is set for 1st June.
Had a little 'mare trying to transfer what little funds I have from my Lloydstsb TSB account to my new NatWest account because the stupid phone authorisation kept failing, so I transferred to my partner's bank for him to send it to me and it got swallowed up by his bank charges (thanks for that! :mad: )
Anyway that's sorted now, onwards and upwards!