DMP & Mutual Support Thread - Part 9

debtfree77

Still_skint wrote: »

Thanks and good look to you too.
I asked payplan what I should do in the meantime and they said nothing. They had already contacted my creditors and had received replies from all but three.
I then got a call from someone else at payplan suggesting I should go down the IVA route, which I turned down.
Hope that doesn't mean that all my creditors rejected my offer.
I'm trying to be positive but I'm up to my neck in it !

I was offered a IVA also but decided to stick with a DMP instead and so far it has been fine, All creditors have played ball and accepted. If they don't accept check back with this forum and get some letter writing done. :D. Main thing to do is to stay positive and remember that you are sorting your debt and things will get better.

debtfree77

antonic wrote: »

Thanks HH !

I will post on the Roll of Honour once its been confirmed I am DF.

Congrats Antonic :T:T:T:beer::beer::beer::j:j:j

Well done !!

AnnM48

Thanks for advice on bank account issue! Applied this morning for Nationwide current account with no overdraft and was accepted, so just need to wait on letter to sign from them.. hopefully out in next day or two! All my credit cards will prob default this month and hit my credit file, so hopefully just got the application in on time. Of course at the end of the application it then offered me a guaranteed credit card with £2k credit limit!! It's really infuriating that credit just keeps being pushed in your face, (used all my willpower and clicked 'no thanks'... if only I had the same willpower a few years back!!! )but when you actually go for help with it they aren't so forthcoming!!!
Also spoke to stepchange who said first payment will hopefully be set up for July...a long journey ahead but very inspiring to see so many on this site who are at the end of theirs or very nearly there!! Sure 8 years flies by!:D

*Foolish*

Originally Posted by Time to face the music
This is a tough one. In the first couple of weeks of our DMP, NatWest overdraft fees took us over our OD limit and NatWest starting charging daily fees, a monthly charge and higher interest. We spoke to CCCS and they told us to just leave it but when I worked it out, it meant that after all the charges, our first DMP payment would not even bring us within our limit and it would carry on like that. In the end, I disobeyed CCCS and paid in enough money to bring us in the limit and stop the charges.

Lloyds TSB on the other hand, without being asked, temporarily increased my OD limit to stop this happening. I generally do not have a good word to say for Lloyds TSB but this was a good gesture on their part.

*Foolish* wrote: »

Thank you, my old account is with Lloyds TSB. I'm not sure my first DMP payment will bring me back under my limit, and I don't want them to keep adding more charges. I might just pay the amounts in, hopefully I can manage it or it'll sit over limit until the first DMP payment near the end of the month. Not sure if they'll temporarily increase my limits, I've never gone over before but they've not increased them for me in the past since they got to the amount they're at!

Appears LTSB have temporarily increased the overdraft on one of my accounts to accommodate the recent overdraft fees, but the other is sitting £35 over its overdraft :undecided think I need to scrape £35 from somewhere!

inbetweener

Hi all,

I have 3 debts all with Lloyds, dmp has been running for 2 months now, I can see from statements that money is going towards every debt on a monthly basis but today had a default notice on one of them (the loan) to say that I need to pay £463 by june 24th!!

It is a default notice, where do I go from here?

Surely they must recognise that I am paying an amount off every month?

Is it a case of ignoring this or do I need to contact them direct to inform them I am on a dmp?

Any advice would be great

2spicy

inbetweener wrote: »

Hi all,

I have 3 debts all with Lloyds, dmp has been running for 2 months now, I can see from statements that money is going towards every debt on a monthly basis but today had a default notice on one of them (the loan) to say that I need to pay £463 by june 24th!!

It is a default notice, where do I go from here?

Surely they must recognise that I am paying an amount off every month?

Is it a case of ignoring this or do I need to contact them direct to inform them I am on a dmp?

Any advice would be great

Ignore it ... they have made it formal that there is outstanding debt. You have the option of paying the outstanding amount by the date they have given to avoid them issuing a default, but if you have no intention of paying, ignore it.
Be glad its been done now. As a default takes 6 years to clear from your credit file, the sooner its done, the better.
Have they accepted the DMP Payments ?

If so, chill, crack open a bottle of Lidl's finest and celebrate.

inbetweener

Love that last comment 2spicy

Have never had letter to confirm on any of the 3 but payments are going into all 3 every month from stepchange so I assume this means they have accepted?

catandy

things just seem to go from bad to worse...

my tax credit has been reduced by £30 per week immediately and from September when youngest finishes college completely I get just £15 per week taking me back to the realms of nominal payments again. (ive only got 80 a month to throw at dmp when i was in receipt of full TC so the reduction has completely wiped it out).

I've only just got to the stage of getting all creditors to agree to DMP offer and making the first payments and its all going wrong again in less than 3 months. I've tried to find a better paid job/ more hours where I currently am but no good with either at the moment. Nothing left to sell - not even got a bed to sleep on at the moment after ex moved out a week ago and cleared the flat out...

my dmp was going to take me upwards of 15 years to pay off as it was, now i dont think im ever going to get it paid off and I cant afford to go bankrupt which has been the first suggestion from StepChange all along.

suggestions please or logic of best course of action cos I'm all out of ideas now - ive done nothing more than sit here and cry since I found out. and apologies for being such a moaning minnie I will snap out of it I just need to work out what to do for the best and how to move forward again.

Still_skint

catandy wrote: »

things just seem to go from bad to worse...

my tax credit has been reduced by £30 per week immediately and from September when youngest finishes college completely I get just £15 per week taking me back to the realms of nominal payments again. (ive only got 80 a month to throw at dmp when i was in receipt of full TC so the reduction has completely wiped it out).

I've only just got to the stage of getting all creditors to agree to DMP offer and making the first payments and its all going wrong again in less than 3 months. I've tried to find a better paid job/ more hours where I currently am but no good with either at the moment. Nothing left to sell - not even got a bed to sleep on at the moment after ex moved out a week ago and cleared the flat out...

my dmp was going to take me upwards of 15 years to pay off as it was, now i dont think im ever going to get it paid off and I cant afford to go bankrupt which has been the first suggestion from StepChange all along.

suggestions please or logic of best course of action cos I'm all out of ideas now - ive done nothing more than sit here and cry since I found out. and apologies for being such a moaning minnie I will snap out of it I just need to work out what to do for the best and how to move forward again.

Could you go down the IVA route ? That way all your debts would be paid after 5 years. If you have so little free income then they can only take what you have.

2spicy

inbetweener wrote: »

Love that last comment 2spicy

Have never had letter to confirm on any of the 3 but payments are going into all 3 every month from stepchange so I assume this means they have accepted?

You cannot assume anything with creditors, however, as they have accepted the payments you have made, that goes towards your case that you "take the debt seriously, that you are being responsible in repaying what you owe as much as possible".

ball is in your court really ... You could call them, might be worth contacting StepChange and asking if they have accepted the terms of the DMP ... or just ignore it in "good faith" that they are accepting your payments

Remember, you are entitled to money to live on first, any left is for your creditors.

Ive said this many times ... "Its a game. you have to play it by their rules, however you can play their rules against them".

Personally, I wouldnt be worried. after all, what can they do >?