DMP & Mutual Support Thread - Part 9

antonic

Today is my first payday since I became DF last month, although I am still waiting for Payplan to confirm it BUT Noddle does show the right balances outstanding of 1 months payments for each of my 4 creditors.

Pink-Angel

Growurown wrote: »

Called Step Change today to sort out my July payment. Car goes in tomorrow and we have been quoted nearly £300 for the work that needs doing, plus the MOT is due so there may be other things that need to be fixed. So all in all not sure how much the total bill is going to be. Anyway SC have agreed to not take our D/D until the 10th so I can notify them next week of the damage. I will contact the creditors to let them know but I am expecting a flurry of nasty letters.

Hopefully the MOT won't reveal anything else. Unfortunately life can throw up these interesting obstacles, which adds to the stress when you're on a DMP but can't be helped. As SC are ok about it, hopefully your creditors won't give you too much grief. You're letting them know, it's not like there's going to be no communication.

All the best.

jansueir

OMG Argos are driving me crazy. On own dmp and over 18 months ago argos agreed I could pay £20 pm. This I have been doing and regularly keep them informed. However, I received a statement saying it had to be paid by 29th May and they received a cheque 7th May. I then sent another cheque which on their next statement said it needed to be paid by 1st July. They received this on 4th June. BUT what they did was put both payments onto June's statement and charged me £12.00 late payment fee!!! When I tried to ring them they said I had broken my arrangement. Oh dear yet another complaint letter will be sent.

sillymeme

Hi DMP-ers,
I thought id say hello as I am feeling very happy and content having survived my first month on a DMP! Now all payments sent by stepchange have appeared on my accounts I allowed myself to tally everything up. I fully expected my total to go up this month, but actually my total debt has reduced by £218 since 28/05 (less than 1% but before my credit card debt was reducing by £70 per month payday loans were costing much more. So not a large reduction - but at least its going the right way!).

I have 8 credictors, including 3 payday loans. Two froze the acount straight away and I owe the initial loan and about 1 months interest and they seem ok with the DMP.
Payday express however are adding interest daily. My inital loan was £500, owing £645 at the end of may, which defaulted. The current amount payable is showing as 830, so almost £200 interest last month. I know they dont need to stop the charges, but if that carries on its going to grow very quickly. Has anyone had dealings with them and had them stop charges? And, in this situation, is it worth me writing to them (they insist on texting me twice daily to remind me to pay) or should all this be done through stepchange? Im happy to write myself, but dont know if its best from stepchange (who are very happy, and I will probably call next week - but feel like im constantly on the phone to them).

Also, I have a small debt with capital one which was on a 0% deal. The stepchange payment covers the minimum so im hoping it stays at 0% until october when the deal runs out. In the meantime ive just started working for lionbridge and was planning on getting rid of this debt first (mostly because its the smallest and will make me feel better). If I clear it, what do i need to tell stepchange? Do i just update the balance to zero online? Or should i discuss with them, as I know this means preferential treatment for one creditor and dont want to upset the others!

Hope everythings going smoothly for others

jenster78

Hello everyone,
Well today we've done it, all dmp papers sent to sc and started cancelling dd,s. feeling bit numb as realise this is quiet before the storm but really can't wait to budget and feel n control again although very scared!!!! Hello to all and m best wishes whatever the you at

ianmak

jenster78 wrote: »

Hello everyone,
Well today we've done it, all dmp papers sent to sc and started cancelling dd,s. feeling bit numb as realise this is quiet before the storm but really can't wait to budget and feel n control again although very scared!!!! Hello to all and m best wishes whatever the you at

Congrats and welcome! It's always a relief, and depending on how you proceed with your creditors, it'll settle down. I never hear a peep out of any of them except the odd letter and statement.

I now have a little equity available after selling my property, and after the stress of that, now have the pleasure of offering Full+Final offers to my creditors. :eek:

Let the Battle(s) commence!

ianmak

sillymeme wrote: »

Hi DMP-ers,


Also, I have a small debt with capital one which was on a 0% deal. The stepchange payment covers the minimum so im hoping it stays at 0% until october when the deal runs out. In the meantime ive just started working for lionbridge and was planning on getting rid of this debt first (mostly because its the smallest and will make me feel better). If I clear it, what do i need to tell stepchange? Do i just update the balance to zero online? Or should i discuss with them, as I know this means preferential treatment for one creditor and dont want to upset the others!

Hope everythings going smoothly for others

It depends how much the debt is. You shouldn't show preference, however if it is a small debt. Early on I had 38k of debt, and one of those was for £145! They offered £70 to settle, which I did without a thought. It didn't really make a difference in the grand scheme of things, but it was one less creditor to worry about.

*Foolish*

sillymeme wrote: »

Payday express however are adding interest daily. My inital loan was £500, owing £645 at the end of may, which defaulted. The current amount payable is showing as 830, so almost £200 interest last month. I know they dont need to stop the charges, but if that carries on its going to grow very quickly. Has anyone had dealings with them and had them stop charges? And, in this situation, is it worth me writing to them (they insist on texting me twice daily to remind me to pay) or should all this be done through stepchange? Im happy to write myself, but dont know if its best from stepchange (who are very happy, and I will probably call next week - but feel like im constantly on the phone

I'm the same with Payday Express, although thankfully no text messages or phone calls, just emails! But they've whacked a massive amount of interest on my PDL! I'm wondering whether to just send a letter requesting they freeze the interest, I know its been done by StepChange, but maybe we need to fight them!
Good luck!

iscrewedup

after a bit of a wobble, i have finally sorted out all the documentation for my DMP. i have had the first two letters from stepchange advising me that 2 creditors have refused my payment. Can anyone explain what this means? doe stepchange just keep paying them anyway but will the interest etc keep being added?

jenster78

Thanks ianmak

I think I've toughened up since the LBM. When I've actually sat down and thought about all this and what I've already paid over the years to my creditors despite interest, I've probably paid near enough what I borrowed! It's the crippling greedy interest that makes it near enough impossible to keep up! But I accept 100% responsibility for letting it spiral out of control and now want a better life for us and our little kiddies, rather than the worry of thinking do we have enough money for our food shop, clothes for kids, a tenner to go on a treat to soft play! As I said our own fault, but even though we have 8 years of a dmp ahead of us, the thought of dealing with our debts and becoming debt free feels so good! This group is amazing, il be a regular poster and supporter