DMP & Mutual Support Thread - Part 9

Hopelessly_Hopeful

andrar wrote: »

Thanks HH, this is really helpful! Put my mind at ease. I guess i'll have defaults/APs on my file for the next 4 years anyway so i'll worry about it then when i'm nearing the end of my DMP.

Please consider the other two credit files, it will be £4 well spent. You wont get anything if you don't challenge creditors and the nearer to the start of the DMP you challenge the more impact it will have in your favour.

HHx

kylie_smiley

OK, so my DMP is all set up, but will be starting on the 10th September which means I have to tell HSBC and I won't be able to afford that payment and my loan payment.

However my new bank account is not yet set up and therefore wages are going into my HSBC current account on Friday.

The lady at SC assures me that they will not take my wages re: the right to offset as I've never missed a payment up to yet. She to call them, advise them that I cannot make the payment this month, cancel my direct debit and make a token payment. I should also let them know I am in the process of taking advice.

I'm worried about this...someone tell me it'll be OK

Growurown

kylie_smiley wrote: »

OK, so my DMP is all set up, but will be starting on the 10th September which means I have to tell HSBC and I won't be able to afford that payment and my loan payment.

However my new bank account is not yet set up and therefore wages are going into my HSBC current account on Friday.

The lady at SC assures me that they will not take my wages re: the right to offset as I've never missed a payment up to yet. She to call them, advise them that I cannot make the payment this month, cancel my direct debit and make a token payment. I should also let them know I am in the process of taking advice.

I'm worried about this...someone tell me it'll be OK

I'm sure it will be OK Kylie. Have you told HSBC yet? Can you tell them on Friday after you have drawn out all your money?

kylie_smiley

Growurown wrote: »

I'm sure it will be OK Kylie. Have you told HSBC yet? Can you tell them on Friday after you have drawn out all your money?

Thank you. I have spoken to them. They were good, actually. I told them I'd been in touch with SC and was in the process of making a decision (SC's advice there!) He said I probably won't hear anything from them for a couple of weeks, and by then SC will have been in touch and everything should be sorted. I'm just waiting for the paperwork for my bank account - I've been approved. He did say that SC were who they would recommend, but that they could offer other options.

Growurown

kylie_smiley wrote: »

Thank you. I have spoken to them. They were good, actually. I told them I'd been in touch with SC and was in the process of making a decision (SC's advice there!) He said I probably won't hear anything from them for a couple of weeks, and by then SC will have been in touch and everything should be sorted. I'm just waiting for the paperwork for my bank account - I've been approved. He did say that SC were who they would recommend, but that they could offer other options.

I've been with SC for two years now and I have found them very helpful. I think things do take a while to work their way through the system as your bank said, so it will be a while before the dust settles, but it will OK. Just keep on telling them you are with SC and quote your number and don't let anyone bully you into paying more than agreed.

kylie_smiley

Growurown wrote: »

I've been with SC for two years now and I have found them very helpful. I think things do take a while to work their way through the system as your bank said, so it will be a while before the dust settles, but it will OK. Just keep on telling them you are with SC and quote your number and don't let anyone bully you into paying more than agreed.

As soon as bank account details are here, it's all systems go! I have my list all ready to change DDs and contact HR. I make m first payment in September, hence the need to contact HSBC, as I couldn't afford both the SC payment and my payments to them!

kylie_smiley

Oh - and in other news, I'm quite enjoying the budgeting at the moment - have even managed to shop wisely enough to have a veritable array of meals in the freezer to get me through back to school manic times!

:j

Debtfree_angel

Hey,

So I was wondering whether I should be pushing everyone to default my accounts with them? Four out of the creditors already have but I guess it is better if I can get the others to do so aswell right?

hopperson

I've just signed up to PayPlan to clear my outstanding debts. They have advised that I should move to a different bank (one of the debts being my Overdraft). I'm happy to do that, but the information they sent includes a comparison of Basic Bank Accounts - which have no OD facilities, etc.

Do I have to open a Basic account or can I go to another current account?

antonic

As your not going Bankrupt ( I hope !) you do NOT have to open just a basic account, you can open any account you wish (provided they will accept you of course).

You should not get an O/D though, because Payplan may get upset with you , because your getting more credit (but thats only if you tell them).

In my case I opened a standard (not basic account) with Lloyds when I started my DMP, and I`m still with Lloyds now.

hopperson wrote: »

I've just signed up to PayPlan to clear my outstanding debts. They have advised that I should move to a different bank (one of the debts being my Overdraft). I'm happy to do that, but the information they sent includes a comparison of Basic Bank Accounts - which have no OD facilities, etc.

Do I have to open a Basic account or can I go to another current account?