DMP & Mutual Support Thread - Part 9

Hopelessly_Hopeful

clairemckay81 wrote: »

Thank you antonic
I am just quite scared as payments due to go out to creditors tomorrow . I presume this will just be a hard few days with them ringing and emailing me . Last time I got behind they contacted my OH to ask him for money from one of my creditors which really put extra strain on me....
Thank you for your response

Best resources are national debtline template. There are also ones on nedcab. Don't forget to tell them you want any communications in writing only, no calls or doorsteps. Also ask for interest freeze. Send letters recorded delivery as they are likely to deny having them. There are plenty of laws on your side that forbid them from harassing you as you describe.

Please shout up if you have any more queries, people here will try to help.

HHx

antonic

clairemckay81 wrote: »

Thank you antonic
I am just quite scared as payments due to go out to creditors tomorrow . I presume this will just be a hard few days with them ringing and emailing me . Last time I got behind they contacted my OH to ask him for money from one of my creditors which really put extra strain on me....
Thank you for your response

Are all of these debts in your sole name or are some in joint names with your OH ?.

If the debts are your sole debts, then they are breaking the Data Protection Act by contacting your OH and asking for money.

If however they are joint debts, they can ask.

If you have read my sig you will see I have just finished mu Payplan DMP, it wasnt easy I can tell you, but at least I`m now DF and my dad was proud of me for dealing with my debts.

Good luck !

andrar

Just thought I'd share this with you all and see if this us a standard response...

I took your advice and wrote to the two creditors who were charging me interest. I'm yet to hear from one but Barclaycard called me today and we had a lovely chat. Apparently they won't freeze my interest because I'm paying more than 1% to them every month through my DMP - if I halved what I pay they bwould freeze it all, crazy!

She did refund the last 9 months interest for mne though, bonus! And she said I could call again in another 9 months and I could ask them to refund again. She also offered me a settlement figure but I can't afford that yet.

Seems weird that the more I'm willing to pay off the less they want to help by freezing charges. Should I complain to the FOS now or just leave it?

Also if I settle in the future do I do this through payplan or direct with BC and just let payplan know?

clairemckay81

hi
No the debts were all in my name but my oh had made one payment to them so they got in touch with his bank and they then got his number and rang him !! I was quite annoyed at this to be honest

Ellieseleven

Find_The_Real wrote: »

Ok shameless post in the DMP thread but as everyone has been so supportive on here, I just wanted to share my good news that my F&F IVA has been accepted today, which is a huge relief!

Not debt free by a long shot but as my creditors are now the bank of M&D under much more favourable terms and at a much reduced amount from the £61K the debts and house repossession finally came in at, finally after 19 months of dealing with it all I can move on.

I just wanted to thank everyone for their support and encouragement on this board, and I hope to continue to offer advice on DMP's, repo's and IVA's which are now my specialist subjects.

You know what I may even miss those DCA's!

Brilliant news... Well done!

Growurown

Hopelessly_Hopeful wrote: »

Hello to all the newbies. Lots of lightbulbs going off this week!

40 payments in and I still get excited on payday and updating the debt owed and time left in my signature. Made it to >80% paid back and have started the 10 month countdown, feels like New Years Eve.

Couldn't have done it without this place so thank you to all.

HHx

Fantastic HH. Ten month countdown, the end of the debt tunnel is really coming into view now! Debt free by next summer......oh I wish!

Find_The_Real

Hopelessly_Hopeful wrote: »

Thanks for sharing. Welcome to the next chapter, am really pleased you are a step closer to getting sorted out.

How long to pay Bank of Mum and Dad off?

HHx

Hi HH, well realistically it could be 2020 before I am officially debt free, but it is the bank of M&D who are slightly more relaxed about what I now owe.

I am just happy to keep plodding along paying as much as I can each month for however long it takes as I am eternally grateful for the loan of the money. Seeing it was going to be 27 years if I continued with the DMP the next few years should fly by hopefully.

In a way I do feel I have cheated a bit though as everyone on here has been wonderful at dealing with their debts long term, paying off the amount owed, and that most are not fortunate enough to have someone to help them out.

Thanks to everyone for the kind wishes, everyone has been such a great support here.

dad2one

jubilee14 wrote: »

Hi Dad2one i have the opposite situation that they have informed me they will take off an extra £10 just a few days after my annual review but have decided will just have to work within the budget than reducing my payments. So i would say its swings and roundabouts these little increases/decreases wouldnt make much if any reduction/extension to the payment terms so probably not worth both your/SC and creditors bother.

Glad your getting so much frozen oh how i wish Hfx would be so accomodating :rotfl:

Thanks, also Growurown and Find The Real, I will leave the extra £20 unreported until the review, unless I change my outgoings before then anyway.

As for everything frozen, yeah i might just be lucky, but as we know anything can change. I do expect as is so often told here, one or two of them to re introduce interest.

andrar wrote: »

Just thought I'd share this with you all and see if this us a standard response...

I took your advice and wrote to the two creditors who were charging me interest. I'm yet to hear from one but Barclaycard called me today and we had a lovely chat. Apparently they won't freeze my interest because I'm paying more than 1% to them every month through my DMP - if I halved what I pay they bwould freeze it all, crazy!

She did refund the last 9 months interest for mne though, bonus! And she said I could call again in another 9 months and I could ask them to refund again. She also offered me a settlement figure but I can't afford that yet.

Seems weird that the more I'm willing to pay off the less they want to help by freezing charges. Should I complain to the FOS now or just leave it?

Also if I settle in the future do I do this through payplan or direct with BC and just let payplan know?

You could go to FOS to apply the pressure, but from what you're saying they refund the interest anyway?
If you're looking to ever do a settlement, i imagine it would be best to talk to payplan first.


Good luck all
Onwards and upwards!

Hopelessly_Hopeful

andrar wrote: »

Just thought I'd share this with you all and see if this us a standard response...

I took your advice and wrote to the two creditors who were charging me interest. I'm yet to hear from one but Barclaycard called me today and we had a lovely chat. Apparently they won't freeze my interest because I'm paying more than 1% to them every month through my DMP - if I halved what I pay they bwould freeze it all, crazy!

She did refund the last 9 months interest for mne though, bonus! And she said I could call again in another 9 months and I could ask them to refund again. She also offered me a settlement figure but I can't afford that yet.

Seems weird that the more I'm willing to pay off the less they want to help by freezing charges. Should I complain to the FOS now or just leave it?

Also if I settle in the future do I do this through payplan or direct with BC and just let payplan know?

Well done. I'd think this is a good deal. If you do go to FOS and loose you will be in a worse position. If you accept what they have offered you can try again in 9 months and if no joy then use FOS. Strategy! Sometimes it's not just the immediate gain it's playing the long game of engagement.

I got them to 6% at one stage but then 12% later due to increase in DMP payment. Did get some interest refunded though so have to factor that in.

What interest are they planning to charge you for next 9 months?

If you are in a position to settle you can do either option. Pros and cons each way, for now Id just concentrate on getting through budgets and any extra squirrel away.

HHx

Hopelessly_Hopeful

dmb wrote: »

Congratulations. Not long to go now:) Have you been living on beans on toast?:rotfl:

I should have been done in 41 months (next month!) but budget was too tight and life was miserable so took my foot off the pedal to finish 9 months later. I don't regret the decision - as Im always telling my poor twin 'you can't buy back time'!

HHx