DMP & Mutual Support Thread - Part 9

catandy

your welcome

Suseka

jenster78 wrote: »

Evening all, I just wanted to sat to scared1, you've done so well tackling what you have. If you we're anything like me with credit just think that in the time guy have paid off what you have, I would have got into debt with that!!! A great achievement :T

Well we are in the limbo period! Sent all to step change fri and set up new account just waiting for cards then its adios HSBC..... Still In a state of confusion, unrest and wondering ' have we done the right thing'? It's not living to a budget that scares me because we've lived off hardly anything for a while its the creditor responses as I've never paid a bill late in my life, how I don't know with all the outgoings! I can't help that worry with 14 creditors and nearly 70k in debt we are in for a Rocky ride (((

Must think positive :mad:

Hi Jenster, well done for taking those first steps - always a bit daunting. I was where you are now a few months back. Entered into a DMP because OHs drop in income finally broke us and I felt awful having to face up to my creditors, having never missed a payment. If things hadn't changed I would have been debt free in 4 years, then would have turned my attention to help my OH. But we are where we are - we had to combine our household income and expenditure in order to put together a realistic and acceptable DMP for all creditors and the first payment went off to SC two days ago.

Am still waiting to hear whether the majority have accepted the plan, a few have already -two have frozen interest, one has reduced it. Now waiting to hear what the others do.

If it helps, the only way I got through those early dark days is with positive thoughts -that unlike many others we were facing up to our debts and putting something in place to manage it (rather than ignore it).

At the moment our DFD is some 5 yrs away -but realistically I suspect it'll be more like 6yrs -and, whilst at times that seems daunting, I keep motivated by reading the wonderful news others post about their debt free journeys and successes.

Good luck.

Find_The_Real

Hello All

Just thought I would post to have a mini rant about one of my creditors. I know it is the usual standard letter dross blah blah blah but I do get a tad annoyed that having chased them for an amount because I want to sort the debt out and they have failed to respond since February, finally I get a "despite our many attempts to contact you", it is still not sorted out etc letter, making it seem that I have refused all contact with them. Ggggggrrrrrrrrrrrrrrrrrrrrr!! :mad:

I did think about sending a snotty letter but you know what, I may just this time ignore it as it makes no difference it seems.

bmma

Hi haven't posted for a while- been lurking- 3 payments into DMP -thanks to my bank pulling the rug from under me (overdraft) a blessing in disguise really, it opened my eyes to how I was living financially and on my nerves, now paying off debts without dipping into food budget, well the truth is paid every creditor every month, no missed payments and just lived on with what was left over. it is scary to start with but Stepchange are brilliant and always there to listen to any worries you may have about the plan, I have lived the last three months without debt or an overdraft and guess what it is ok. I will never be allowed credit again and that is ok too. At this time saving up for a washing machine as the one I have had for 6 years gave up, able to use the local laundrette once a month and do the smalls by hand- also reading the posts on here is a great help. we are all on the road to being debt free and every journey starts with one step at a time. bmma x

Hopelessly_Hopeful

bmma wrote: »

Hi haven't posted for a while- been lurking- 3 payments into DMP -thanks to my bank pulling the rug from under me (overdraft) a blessing in disguise really, it opened my eyes to how I was living financially and on my nerves, now paying off debts without dipping into food budget, well the truth is paid every creditor every month, no missed payments and just lived on with what was left over. it is scary to start with but Stepchange are brilliant and always there to listen to any worries you may have about the plan, I have lived the last three months without debt or an overdraft and guess what it is ok. I will never be allowed credit again and that is ok too. At this time saving up for a washing machine as the one I have had for 6 years gave up, able to use the local laundrette once a month and do the smalls by hand- also reading the posts on here is a great help. we are all on the road to being debt free and every journey starts with one step at a time. bmma x

That sounds very positive bmma

HHx

Back_on_budget

Hi all.

MBNA have sold my credit card debt to IDR Financial.

Am I right in thinking this is a good thing?

This is the first debt I've had that has been sold on, so not sure what to expect now.

Has anyone else had any dealings with these people - if so, what are like?

Larac

My MBNA was sold on. I get regular offers from the New company asking me to pay it off and they will give me a ten per cent discount. Alas this is.my biggest debt so not in position to take up offer. Hoping further downstream when more had been paid off this will be more attainable or offer a bigger discount..

Growurown

Larac wrote: »

My MBNA was sold on. I get regular offers from the New company asking me to pay it off and they will give me a ten per cent discount. Alas this is.my biggest debt so not in position to take up offer. Hoping further downstream when more had been paid off this will be more attainable or offer a bigger discount..

My MBNA card was sold onto Aktiv Capital and they offered me a discount to pay it off but it was way more than I could afford too.

Hopelessly_Hopeful

Morning all

Not a strict rule but generally debts sold on represent less or no interest and for those interested in F&Fs then they are in with more of a chance than if the debt stayed with the originators.

HHx

Hopelessly_Hopeful

Knock knock peeps

The debt free roll of honour board thread is worth subscribing to for inspiration. Noticed today that Fermi is debt free. Fermi gives lots of support to keeping the boards going so it would be nice if people could consider popping over to congratulate her own personal significant achievement.

https://forums.moneysavingexpert.com/discussion/comment/62253205#Comment_62253205

And finally, hope it's a beautiful start of the weekend for you all

HHx