DMP & Mutual Support Thread - Part 9

Keeping_positive_2

Good Morning,

I have just had my 2nd DMP payment made to Step Change. It feels fantastic. Already I am in control, feeling positive and am actually planning for the future. Anyone who is reading the forum trying to decide what to do, all I can say is 'Go For It'! Nothing is as bad as the experience of last few years of worry, panic and hot flushes about money!

Anyway I have a question.....all my creditors seem to have been quite supportive. especially MBNA and on the whole it seems quite calm (at the moment).

My problem is with NatWest Bank. I have an overdraft with them which is now included in the DMP.
They wont accept my repayment figure and are continuing to make charges and will not close the account. Last month my set payment £42.65 didn't even cover half the charges that were made.

I have had some advice from Step Change, and have contacted NatWest nicely and now more assertively and have also now contacted the Financial Ombudsman.

I just wondered if anyone else had experience of Natwest Bank on DMP and what the outcome was?
If they are going to sell the debt on I just wish they would hurry up an do it. Charging more is not of benefit to either of us - I cannot pay anymore, but am wanting to pay the set amount, which I have outlined several times!

I know from Step Change this happens - 6 months ago they were chucking money at me!!

Thanks for your help, enjoy the weekend! x

samlovescomps

Hi All

I am with Step Change on a DMP. I have been for 2 years now and have made every payment on time and have increased my payment each year. My questions is does anyone know if it is possible to decrease my payment for just one month? I need urgent dental work costing £214. I only have half of it spare and need to loan some from a friend but this means I will be short next month on 1st Sept when they take payment.

Has anyone done this before?

Thanks Sam

shrekkiegirl

good afternoon all

i have sent everything requested by SC for them to set up a DMP. I missed a few things and had an e mail asking for them. how long does it now take before I will hear from them again? I am just starting to worry as I have heard nothing since returning the requested info........and the automated e-mail which say's they have received it

many thanks

dmb_2

samlovescomps wrote: »

Hi All

I am with Step Change on a DMP. I have been for 2 years now and have made every payment on time and have increased my payment each year. My questions is does anyone know if it is possible to decrease my payment for just one month? I need urgent dental work costing £214. I only have half of it spare and need to loan some from a friend but this means I will be short next month on 1st Sept when they take payment.

Has anyone done this before?

Thanks Sam

Hi Sam

Yes I had to reduce DMP payment a couple of times. Just ring SC up and explain. They will take reduced payment for that month. I never heard from any of creditors and if any do contact you just refer them to SC

Good luck:)

Solwaysaver

Good evening all

i'm waiting on a call back from stepchange with the hope of starting a DMP or DAS seeing as i live in Scotland. I have never felt such a rollercoaster of emotions as i have the past few days trying to work out the best course of action . Just wondering what happens with overtime payments, would i be able to put away any OT money for an emergency fund or would any extra need to be declared, say at a review? Jumping the gun a bit i know when i don't even know if i'll be accepted for a dmp/das, but sick with worry

Think Solwaysaver should have been Solwayspender !!

dmb_2

Hi Solwaysaver and welcome. I would put any spare cash into emergency fund. Don't think it needs to be declared at review as the amount will vary. It's important to have some back up funds.

Don't worry. We've all been there and in a few months you'll feel a lot less stressed. You'll find loads of support and advice on here. Good luck:)

Growurown

Solwaysaver wrote: »

Good evening all

i'm waiting on a call back from stepchange with the hope of starting a DMP or DAS seeing as i live in Scotland. I have never felt such a rollercoaster of emotions as i have the past few days trying to work out the best course of action . Just wondering what happens with overtime payments, would i be able to put away any OT money for an emergency fund or would any extra need to be declared, say at a review? Jumping the gun a bit i know when i don't even know if i'll be accepted for a dmp/das, but sick with worry

Think Solwaysaver should have been Solwayspender !!

Hi Solwaysaver, yes I would put the money away for your emergency fund. We have (over the two years of our DMP) had to reduce payments on two occasions because we had a large bill to pay on our car and a bigger emergency fund would have really helped.

bertman

Growurown wrote: »

Hi Solwaysaver, yes I would put the money away for your emergency fund. We have (over the two years of our DMP) had to reduce payments on two occasions because we had a large bill to pay on our car and a bigger emergency fund would have really helped.

We have always put anything extra into a bank account as you will need something at some point during your DMP, your boiler, car repairs all these are extra's that you can't take into account.

Best of luck!!

bertman

Keeping_positive wrote: »

Good Morning,

I have just had my 2nd DMP payment made to Step Change. It feels fantastic. Already I am in control, feeling positive and am actually planning for the future. Anyone who is reading the forum trying to decide what to do, all I can say is 'Go For It'! Nothing is as bad as the experience of last few years of worry, panic and hot flushes about money!

Anyway I have a question.....all my creditors seem to have been quite supportive. especially MBNA and on the whole it seems quite calm (at the moment).

My problem is with NatWest Bank. I have an overdraft with them which is now included in the DMP.
They wont accept my repayment figure and are continuing to make charges and will not close the account. Last month my set payment £42.65 didn't even cover half the charges that were made.

I have had some advice from Step Change, and have contacted NatWest nicely and now more assertively and have also now contacted the Financial Ombudsman.

I just wondered if anyone else had experience of Natwest Bank on DMP and what the outcome was?
If they are going to sell the debt on I just wish they would hurry up an do it. Charging more is not of benefit to either of us - I cannot pay anymore, but am wanting to pay the set amount, which I have outlined several times!

I know from Step Change this happens - 6 months ago they were chucking money at me!!

Thanks for your help, enjoy the weekend! x

Hi KP.

We also had an overdraft with NatWest which went onto the DMP, they did the same with us for about 3 months then sold the debt on, all the interest is now frozen and we haven't heard anything from them for nearly 8 months now. They have to play ball, they can't have what you don't have.........

Growurown

bertman wrote: »

We have always put anything extra into a bank account as you will need something at some point during your DMP, your boiler, car repairs all these are extra's that you can't take into account.

Best of luck!!

Yes we do have an emergency fund but the bills on the car were huge and there just wasn't enough. The first time the clutch had to be replaced and it cost well over a thousand pounds, and the second time the bill was over £500.