DMP & Mutual Support Thread - Part 9

Growurown

maybedmp wrote: »

OK, another newbie question

All creditors have been written to with token payments apart from Santander who we have an overdraft with (account not in use, all direct debits cancelled and no wages or other money of ours goes in anymore). Do I send them a letter as courtesy (as there's no token payment to make as such) or just wait for StepChange to contact them?

TIA

You don't have to write to them, they will get the info from Step Change eventually, but I would send them a letter anyway if it were me, but the choice is yours:)

Growurown

Hi Newbies - one more thing! Whilst I have lots of respect for Step Change who are brilliant, you don't have to tell them everything!

Yes there are rules to being on a DMP, for example no more credit and who would want it anyway - but sometimes things get difficult. I have an overdraft option with my bank account for £500. Not a lot for me considering before I started my DMP I had a £6,000 overdraft which was spent up to the limit. Anyway no I shouldn't have more credit but knowing that money is there to be used in an emergency only I hasten to add is very comforting.

Sometimes OH gets some overtime, my Mum gave us some money but I didn't tell Step Change and I put it into my emergency fund.

When I set my plan up I put in money for everything even though I didn't use it, such as dry cleaning, lunches at work, smoking. I chose to do this because OH hates penny pinching, gets really miserable and likes to shop at Waitrose. It means that we have a little bit extra to make life more bearable. Some people put every spare penny into paying their debt and I have great admiration for them, but I knew this wouldn't work for us. I know it will take us longer to clear our debt this way but I accept that. So do what is best for you and good luck with your DMP:)

Mr_Mink

Growurown wrote: »

Hi Newbies - one more thing! Whilst I have lots of respect for Step Change who are brilliant, you don't have to tell them everything!

Yes there are rules to being on a DMP, for example no more credit and who would want it anyway - but sometimes things get difficult. I have an overdraft option with my bank account for £500. Not a lot for me considering before I started my DMP I had a £6,000 overdraft which was spent up to the limit. Anyway no I shouldn't have more credit but knowing that money is there to be used in an emergency only I hasten to add is very comforting.

Sometimes OH gets some overtime, my Mum gave us some money but I didn't tell Step Change and I put it into my emergency fund.

When I set my plan up I put in money for everything even though I didn't use it, such as dry cleaning, lunches at work, smoking. I chose to do this because OH hates penny pinching, gets really miserable and likes to shop at Waitrose. It means that we have a little bit extra to make life more bearable. Some people put every spare penny into paying their debt and I have great admiration for them, but I knew this wouldn't work for us. I know it will take us longer to clear our debt this way but I accept that. So do what is best for you and good luck with your DMP:)

Sounds similar to what we're doing. I earn some overtime and Payplan budgeted in £100 "us" money each month, we're planning to save it each month then hopefully there'll be a point where savings overtake debt and bang, the debt is gone. Fair way off from there though, but closer than we were before the DMP

kylie_smiley

Thanks, both!

Chrisblue1962

A word of warning re. courts.

I am on a DMP with Stepchange but Nationwide, who knew I was on a DMP and that I was paying as agreed, decided to pursue and got a CCJ, which has now trashed my credit file for years to come.

I no longer have ANYTHING to do with Nationwide - a bunch of gangsters :mad:.

Growurown

Chrisblue1962 wrote: »

A word of warning re. courts.

I am on a DMP with Stepchange but Nationwide, who knew I was on a DMP and that I was paying as agreed, decided to pursue and got a CCJ, which has now trashed my credit file for years to come.

I no longer have ANYTHING to do with Nationwide - a bunch of gangsters :mad:.

Hi Chris, sorry to hear this. Yes it does happen sometimes that creditors go to court even when you are on a DMP with a well known recognised debt management company. It doesn't seem to happen often though and none of my creditors have ever threatened me with court. I've never had any dealings with Nationwide but I feel pretty much the same about the Halifax or Hellifax as it is sometimes called!

Puzzcat

Thought I'd drop in and wave again as have just finished reading all of thread 8.... I think i will now re-read thread 9 again now I feel I know you all so much better!!

Also wanted to to bump the thread as its been very quiet and is disappearing off the first few pages.

I will return.

Love puzz.

Time_to_face_the_music

Puzzcat wrote: »

Thought I'd drop in and wave again as have just finished reading all of thread 8.... I think i will now re-read thread 9 again now I feel I know you all so much better!!

Also wanted to to bump the thread as its been very quiet and is disappearing off the first few pages.

I will return.

Love puzz.

Hi Puzz :hello:

That is exactly how I started off on the thread, I read all the current one, then went back to the one before and read all of that too. Oh and I learned so much! I highlighted and page marked everything I thought would be useful and it certainly proved a good thing to do :T

It's great to see someone being really enthusiastic to keep the thread alive and near the top. The mutual support offered here is what kept me going at the start of our DMP and I still refer back to those saved posts many time when I need a bit of help or to offer advice to someone else now. Hope to see a lot more of you here.

TTFTM x

Enough_Now

Just had my ppi claim offer letter from rbs which informs me that they have applied the whole amount to my defaulted debt with them. I'm really chuffed as the refund amount equates to 8.5% of my total DMP debt, so a massive boost to my DMP progress (knocking 3 months off my DFD).

It would have been nice to have some of the refund paid to me for a small treat but at least this way it's all come off my debt.

I'm hoping to up my payments to SC mid-2014, by £100 or so, as I am determined to be debt free by the end of 2015.

Thought the board could do with some good news and also to encourage others to explore any potential ppi refund opportunities - for the cost of two stamps I am feeling even more positive about my debt free journey.

EN x

Time_to_face_the_music

Enough_Now wrote: »

Just had my ppi claim offer letter from rbs which informs me that they have applied the whole amount to my defaulted debt with them. I'm really chuffed as the refund amount equates to 8.5% of my total DMP debt, so a massive boost to my DMP progress (knocking 3 months off my DFD).

It would have been nice to have some of the refund paid to me for a small treat but at least this way it's all come off my debt.

I'm hoping to up my payments to SC mid-2014, by £100 or so, as I am determined to be debt free by the end of 2015.

Thought the board could do with some good news and also to encourage others to explore any potential ppi refund opportunities - for the cost of two stamps I am feeling even more positive about my debt free journey.

EN x

Brilliant news EN :j