DMP & Mutual Support Thread - Part 9

Mr_Mink

catandy wrote: »

at the moment im too angry to speak with them after the first call I made, yes FOS is an option and will be asking for link to letter if I decide to go that route. as I say at the moment im considering throwing in the towel and just going BR - my DFD as it stood was well over 10 years away, Im beginning to think that this just isn't worth it.

Ah, you're a long hauler like me. I'm looking at 16 years at the current rate . I fortunately will be able to double my payments in Jan so that'll bring it to 8 years.

It is tempting to throw in the towel, but keep in mind that things can change for the better. Hopefully the economy will pick up soon and there should be a bit more money floating around.

For motivation try making a list of the progress you have already made and compare it to how things would have been had you not gone onto a DMP (when I did this it scared the bejesus out of me).

Keep looking for ways to put a bit of money away each month, then if you can keep at it regularly there will be a point where your savings will exceed your debt and you can go for full and finals (and afterwards a heck of a good drink at the pub :beer: .

catandy

thank you for the kick up the proverbial and the kind words (just what I needed to hear) and yes I will keep fighting and hoping that things start getting better - just knocked me off my feet today seeing all the balances starting to head upwards again :mad::mad:

oh well - letter writing starts again

kylie_smiley

Hi all,

Just wondered if someone could run their eyes over this token payment/advisement of DMP letter? I'd like to send it out today. Do you think I need to send it recorded delivery?

I plan to pay my £1 via internet banking as soon as the letter is printed off. I will then send the same letter to my other creditors. Thanks again for all your advice so far!

Here it is:


Dear Sir/Madam,

I am in financial difficulty and not able to meet my normalmonthly payments.

I have received advice from StepChange Debt Charity to helpme solve my debt problem.

StepChange Debt Charity is setting up a Debt Management Planfor me and they will send you an offer of payment along with a copy of mybudget and a list of creditors.

In view of my circumstances, please accept a token offer of£1 per month until my Debt Management Plan is set up. I have paid this viainternet banking. If interest or other charges are being added to the account,I would be grateful if you would freeze these so that the debt does notincrease.

I authorise you to disclose my account details to StepChangeDebt Charity and you can contact them on 08442 641 916.

Yours Faithfully

Growurown

kylie_smiley wrote: »

Hi all,

Just wondered if someone could run their eyes over this token payment/advisement of DMP letter? I'd like to send it out today. Do you think I need to send it recorded delivery?

I plan to pay my £1 via internet banking as soon as the letter is printed off. I will then send the same letter to my other creditors. Thanks again for all your advice so far!

Here it is:


Dear Sir/Madam,

I am in financial difficulty and not able to meet my normalmonthly payments.

I have received advice from StepChange Debt Charity to helpme solve my debt problem.

StepChange Debt Charity is setting up a Debt Management Planfor me and they will send you an offer of payment along with a copy of mybudget and a list of creditors.

In view of my circumstances, please accept a token offer of£1 per month until my Debt Management Plan is set up. I have paid this viainternet banking. If interest or other charges are being added to the account,I would be grateful if you would freeze these so that the debt does notincrease.

I authorise you to disclose my account details to StepChangeDebt Charity and you can contact them on 08442 641 916.

Yours Faithfully

Hi Kylie, I had a quick look at similar letters on the National Debtline website and all the necessary information seems to be there.

Time_to_face_the_music

kylie_smiley wrote: »

Hi all,

Just wondered if someone could run their eyes over this token payment/advisement of DMP letter? I'd like to send it out today. Do you think I need to send it recorded delivery?

I plan to pay my £1 via internet banking as soon as the letter is printed off. I will then send the same letter to my other creditors. Thanks again for all your advice so far!

Here it is:


Dear Sir/Madam,

I am in financial difficulty and not able to meet my normalmonthly payments.

I have received advice from StepChange Debt Charity to helpme solve my debt problem.

StepChange Debt Charity is setting up a Debt Management Planfor me and they will send you an offer of payment along with a copy of mybudget and a list of creditors.

In view of my circumstances, please accept a token offer of£1 per month until my Debt Management Plan is set up. I have paid this viainternet banking. If interest or other charges are being added to the account,I would be grateful if you would freeze these so that the debt does notincrease.

I authorise you to disclose my account details to StepChangeDebt Charity and you can contact them on 08442 641 916.

Yours Faithfully

If StepChange have given you a reference number, include that in your letter. They used to supply template letters for you to send to your creditors, do they not do that any more?

kylie_smiley

Thanks. I have included it - just didn't fancy posting it on here! Lol

Time_to_face_the_music

catandy wrote: »

ditto to both the above - I've worked out my figures based on my lowest earning months but its still not realistic and still have times when I feel like throwing the towel in with this and doing the bankruptcy route - like this morning when I opened the post to find 4 creditors have reintroduced interest as they had helped me out by stopping it for a period of time 'as a temporary measure'. :mad::mad::mad:

Are you running a DMP via StepChange/Payplan or doing this on your own?

Are these debts defaulted? Have you officially asked them to freeze interest for the duration of your debt? Have you made a complaint about the reintroduction of interest now?

Several of our creditors reintroduced interest after 6 months because they had not received an updated I&E from StepChange. We asked about this, StepChange said they usually did this annually but some creditors like to receive it 6 monthly. The same I&E was sent and interest was stopped again. Now we set a calendar reminder to resend our own I&E to all creditors every 6 months.

If you are doing this alone, stop distributing your payment evenly and drop the payment to a token £1 to any creditor still charging interest. 3 months of this worked miracles for a default and frozen interest with Lloyds TSB for us.

Time_to_face_the_music

kylie_smiley wrote: »

Thanks. I have included it - just didn't fancy posting it on here! Lol

Good stuff - just wanted to make sure you had included it

zenshi

I'm applying for a job tonight and they request post rather than email. Is so long since I've had an outside job :eek: what's better....a handwritten covering letter or a printed one!?

catandy

Are you running a DMP via StepChange/Payplan or doing this on your own? - self managed using NEDCAB

Are these debts defaulted? Have you officially asked them to freeze interest for the duration of your debt? Have you made a complaint about the reintroduction of interest now? - all but one had interest frozen since beginning which was Nov of last year - Halifax and capital one have now reintroduced interest making 5 out of 8 interest bearing again. and I now and the proud owner of 6 default notices ( 3 of which were added this month)

Several of our creditors reintroduced interest after 6 months because they had not received an updated I&E from StepChange. We asked about this, StepChange said they usually did this annually but some creditors like to receive it 6 monthly. The same I&E was sent and interest was stopped again. Now we set a calendar reminder to resend our own I&E to all creditors every 6 months. that makes sense - I've reissued my I&E and letters to all my creditors and to the post office I shall go tomorrow

If you are doing this alone, stop distributing your payment evenly and drop the payment to a token £1 to any creditor still charging interest. 3 months of this worked miracles for a default and frozen interest with Lloyds TSB for us. I've taken them all down to £1 nominal payments again until I get this sorted or make a decision one way or the other what to do.

thanks for the heads up - im going to see if nominal payments make any changes to their thought process (which will also give me a chance to get the £ together if I do decide to do the BR route).