DMP & Mutual Support Thread - Part 9

Puzzcat

Hi,

Just a quick update from me... Plan all set up with SC and good to go.. Just waiting for welcome pack and first payment goes on 1st November...:D

DanielleNic87

Hello everyone.Haven't been on for a couple of months.


All has been quiet here. With not a peep out of anyone.


Barclaycard have reduced interest to 3%, virgin and natwest have stopped interest with no problems.


My Argos card is still bring charged more in interest than what I'm paying towards it.


Today I received a letter from Natwest saying because I haven't complied with the requirements set out in the default notice that they have demanded the full £500. I'm confused, does that mean that if I don't pay they will issue the default?

ianmak

I also have a Cashminder account and all is good. I thought it was normal for payments not to appear immediately... but I know now this isn't the case!

Their online banking is simple and easy to use, and telephone banking is a breeze too. Long may it continue.

HH - Who are you calling an Old Timer lol.

Update from me, after a month of getting knowhere with full & finals through PayPlan (creditors want 75%, I have 50% to offer), I've ended up doing a F&F IVA. It's obscene the amount PP take (The creditor ends up with 27%), but if it gets rid of my debts, and the Creditors are stupid enough to accept that rather than the 50% I offered, then more fool them.

I don't agree with the IVA, but my surplus had dropped by 90% after moving in with my partner, and I just don't have the time to negotiate with the creditors on my own (Plus the creditors wanted to deal with PP!), I felt it was my only option moving on to being 'technically' debt free.

Thamesmeadhammer

Just had a letter from Santander who are freezing the interest on my loan, great start to my DMP :beer:

Also had an email from SC asking if I would mind sharing my debt issues with them. Told them I would be more then happy if it helps others.:A

Hopelessly_Hopeful

Thamesmeadhammer wrote: »

Just had a letter from Santander who are freezing the interest on my loan, great start to my DMP :beer:

Also had an email from SC asking if I would mind sharing my debt issues with them. Told them I would be more then happy if it helps others.:A

Great news!

HHx

Hopelessly_Hopeful

ianmak wrote: »

HH - Who are you calling an Old Timer lol.

Update from me, after a month of getting knowhere with full & finals through PayPlan (creditors want 75%, I have 50% to offer), I've ended up doing a F&F IVA. It's obscene the amount PP take (The creditor ends up with 27%), but if it gets rid of my debts, and the Creditors are stupid enough to accept that rather than the 50% I offered, then more fool them.

I don't agree with the IVA, but my surplus had dropped by 90% after moving in with my partner, and I just don't have the time to negotiate with the creditors on my own (Plus the creditors wanted to deal with PP!), I felt it was my only option moving on to being 'technically' debt free.

Well if the cap fits! :rotfl::rotfl:

Yes agree nuisance re the fees but so pleased you have a solution. Ooooh you will be posting on the debt free board before you know it. Excited for you.

HHx

LadBroke

Hi there,

I am hoping that I am posting this in the right section ?

Due to stupidity on my part CCCS/StepChange had no other choice but to finally close my DMP.

Some of my creditors have requested information such as an "Income - Expenditure" .

I would like to know whether there is an official template as I don't have access to my the items list I issued for the CCCS almost two years ago.

Can someone help me and provide such a list ?

Many thanks in advance :T

Find_The_Real

Hello LabBroke and welcome.

One of the best websites for those that are not using one the the main free DMP providers is this one:

http://mymoney.nedcab.org.uk/moneyadvice/

They offer tons of practical advice and you can also sign up to their free online assisted DMP to help you through it.

It may also be an idea to read through the threads here as well as there are a number of fellow posters who have gone self-managed.

Do make sure that your figures are a reasonable amount to live on without having to struggle through the month as although most people want to throw as much as they can against their debt, generally a DMP can last quite a while and so you should make sure there is enough to live on and also to have a small amount set aside for emergencies each month as there is no credit to fall back on should you need access to money.

Good luck.

Find_The_Real

ianmak wrote: »

Update from me, after a month of getting knowhere with full & finals through PayPlan (creditors want 75%, I have 50% to offer), I've ended up doing a F&F IVA. It's obscene the amount PP take (The creditor ends up with 27%), but if it gets rid of my debts, and the Creditors are stupid enough to accept that rather than the 50% I offered, then more fool them.

I don't agree with the IVA, but my surplus had dropped by 90% after moving in with my partner, and I just don't have the time to negotiate with the creditors on my own (Plus the creditors wanted to deal with PP!), I felt it was my only option moving on to being 'technically' debt free.

Hello Ianmak,

I know you probably feel that going with a F&F IVA is not the way you wanted to do it but if they are willing to accept it then why not as that way they can't come chasing for the debt at a later date when it is sold on. Perhaps I am way too cynical but a letter saying yes they won't chase you with a F&F offer doesn't give me much confidence especially if you are dealing with quite high levels of debt, which is why I went for a F&F IVA myself.

ianmak

Find_The_Real wrote: »

Hello Ianmak,

I know you probably feel that going with a F&F IVA is not the way you wanted to do it but if they are willing to accept it then why not as that way they can't come chasing for the debt at a later date when it is sold on. Perhaps I am way too cynical but a letter saying yes they won't chase you with a F&F offer doesn't give me much confidence especially if you are dealing with quite high levels of debt, which is why I went for a F&F IVA myself.

Thanks, I do like the legal side of the IVA, lets just hope they accept! Creditors meeting is in 6 days. :eek: