DMP & Mutual Support Thread - Part 9

debtfree77

Find_The_Real wrote: »

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!

Barclaycard haven't even mentioned the word default yet , but my other 5 creditors have and i reckon i could be reciving those very soon, which on a plus i can get the 6 years out of the way.

Time_to_face_the_music

debtfree77 wrote: »

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 !!!

Barclaycard appear to have a tiered interest rate depending on how much you pay:

Originally Posted by eyeopener2

Barclaycard have a system, if you can call it that of tiered interest rises.

Mine went from 0, to 6.9 to its current 12.9 in 12 months. M & s was worse 0 to 18.9 after the first 12 months.

MBNA and santander have been fine for 3 years (touch wood).

I would get rid of the store cards and overdraft, then if you can clear all that, then see where you are.

The thing is, with creditors, is that you never really know how they are going to play it until it happens. I know how bc work as I have a letter laying out the policy.!!!

I don't have any experience of BC but it may be worth sending eyeopener2 a message and asking about it.

debtfree77

*Foolish* wrote: »

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!

Hi Foolish, I feel exactlty the same about Stepchange they have been supportive, prompt and have be helpful with every part of setting up my DMP along with this Forum, the help and support i have recieved has been amazing. To go from a dark depressing spot in your life to actually being able to see light at the end of the tunnel is a great feeling. Keep it up guys & gals.:T:beer:

debtfree77

Time_to_face_the_music wrote: »

Barclaycard appear to have a tiered interest rate depending on how much you pay:

Originally Posted by eyeopener2


I don't have any experience of BC but it may be worth sending eyeopener2 a message and asking about it.

Thanks TTFTM, thats interesting. They do seem to be massive jumps in the interest though, which is a bit worrying. I will give eyeopener2 a shout to how it panned out for them.

Suseka

Hi all,

Well done HH, those are pretty impressive figures and next year will be here before you know it

We've had a visit from Resolvecall who left their calliing card - on googling them the only creditor of ours I can see who uses them is Barclaycard. It's odd because OH has spoken to them twice and they are said they had put account on hold and had received token payments. Were in fact very understanding. Am not overly worried - although I don't quite fancy opening the door when on my own to some 6 footer asking for money - but if that happens I'll just ask him or her politely to go away

OH's car is nearly sorted... it's been ridiculous, and he's had to get his works Fleet Manager involved, but it should be here in a few weeks, so we are definitely on track to get our DMP up and running for 1st July. It's been a long time coming.

Weather seems to be improving and I'm picking my new bike up tomorrow afternoon, so I'll get out and practice on it over the bank holiday, ready to cycle to work on Tuesday - yikes! The bus fare is £2.60 per day, so I'll start putting that little bit of saving aside each day I ride - it all adds up eh.

Haven't ridden a bike in years, so not quite sure how I'll get on riding to work - but gotta give it a go.

Hope everyone has a good bank holiday weekend lined up.

poohbear59

Congratulations antonic!!

All our DMP letters went out on 21st May.

I had my first phone call last night from C4pital\one. I should have had a minimum payment to them by 15th May. The lady was lovely and asked for my Payplan info. She said they haven't received my letter yet. But will freeze interest and won't phone me again for 30 days.

My worry is what co0p will do. DH's pension went into it yesterday and the mortgage is due on Tuesday. Just hoping they don't keep hold of his money as we have debts with them. I really want to keep on top of the mortgage.

I phoned nationwide and found out our new account number so I can organise payments going into it asap.

It all feels so wrong to be defaulting on payments but we couldn't keep on borrowing to pay debts. It is a scary time for me as I will crumple if any of the companies start to make things difficult for us. DH is still burying his head in the sand and I am doing it all on my own for both of us.

I should have added that Payplan have suggested we make a token payment of £1 to each company as our outgoings are more than our income ATM. Does anyone else have experience of £1 payments?

bertman

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

Well done HH. When we first started down the DMP route last year we were in a very dark place and thinking the end of the world was at hand. Your posts in particular helped us find a way through the mess. 8 months now down the line our lives are so much better, we are sleeping at night, we are paying off our debts with no interest added anywhere - and best of all we are enjoying life again.
For anyone just starting out on their journey with a DMP - its frightening at first but you will get there and there is a lot of help from your nominated DMP company and most of all this forum.:T

sillymeme

Back_on_budget wrote: »

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...

Thanks. Im going to wite to them this weekend.
Was payday today - I was very concerned that my work would pay my salary into my old account (despite them confirming when asked that it had been changed - I was just paranoid!). So stayed up so I could check at midnight and transfer if need be, but everything was fine.
Until one payday loan company managed to reclaim one third of the loan from my old account forcing it into an unplanned overdraft. Which is really my fault - I sent letters to cancel the CPA, sending them signed for, but didnt check up on them. It was out of my mind really as I didnt think my account would allow payments to go through anyway - they usually bounce anything that would leave it overdrawn even by a small amount (I was mostly concerned my wages would go there). Anyway, tracking on royal mail, it seems only half the letters have been recieved so theres not much I can do. So have had to add another debt into my DMP from next month (cause 8 creditors/accounts wasnt bad enough!). Which isnt the end of the world as its only a small amount (£200ish, though the overdraft fees are £5 a day so really hope I can get that frozen) and wont significantly change payments to others but its still annoying!

Congratulations to antonic, so nice to see it all working out for others!

Time_to_face_the_music

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

£50K paid, less than £15K to go and less than one year too! :T

That is one whole bunch of fantastic targets achieved in one month. Brilliant news Twin :j

Dizzydi

My first post so here goes...i've just entered a DMP with Stepchange and my first payment is due out on the 1st June. Everything seems to have gone quiet so I am a bit nervous. Can anyone help me - i wrote to Wonga on the 7th May to two addresses to make sure they were received telling them I was entering the DMP i've also emailed them but tonight in the post comes a letter requesting payment from me dated 22nd May and added interest even though Stepchange have contacted them as well as them receiving letters and e-mails. What can I do - why are they ignoring my letters and Stepchanges communication?