DMP & Mutual Support Thread - Part 9

Sazzie23

in_debt_again_but_dealing_with_it wrote: »

Hi

As member 9 of the first ever DMP and mutual support thread back in 2007 I would just like to let you know there really is light at the end of the tunnel, having started my DMP 6 years ago I am about to make my final payment and finish repaying £23,000. This forum was my salvation during many long dark, stressful hours and I'll be eternally grateful to Martin Lewis and his faithful supporters. Good luck to you all - you can and will get there xx

Hi Indebt,

Thanks for sharing this, I think it's important to see there is an end in sight.
. I am about 7 months into my DMP and I feel the same way about MSE already. I am also a grateful to SC without whom I could never have got this far.

Hi equilibrium,

Welcome aboard, sounds like you are making positive steps already. Come back here if you have issues.

Well done for making a start at facing your debt

Have a good day everyone

danidav88

Equilibrium13 wrote: »

Thanks for the warm welcome It's so inspiring to read people's success stories on here, gives me hope that I can be debt free too

That's great to hear, Dani that your creditors are responding and freezing interest, looks like we have debts with some of the same creditors!

Can I ask if you are with StepChange as well Dani and Puzzcat?

Good luck to everyone

I'm with payplan but I think they work quite similar. My biggest problem is shop direct group who own very, isme and additions and unfortunately I have all three lol. They have been really aggressive on the phone and debt has now been passed to a dra and they seem a lot nicer.

Dani

Find_The_Real

Just wanted to wish all the newbies good luck with starting their DMP's. Hopefully you have read the excellent advice on this thread and will soon be in the position where you feel great relief at having entered one.

Although it is not always plain sailing there are plenty of tips for dealing with creditors so do read and ask if not sure!

Puzzcat

Thanks Find The Real, Mine starts on 1st November..:D

I am getting some very conflicting post but am assuming that it is just crossing with my letters and SC letters, either that or these financial institutions really don't have a clue...:rotfl:

Good Luck Everybody... :T

Love Puzz. xx

Find_The_Real

Hello Puzzcat, if you work on the assumption your creditors don't have a clue it normally works quite well!

Do keep on top of statements and totals owed yourself as although you are using SC to administer it, it works well if you keep also keep an eye on statements and fire off letters direct if they are not freezing interest etc.

Good luck with it all.

CaptainAmerica

Afternoon all,

Would someone be able to point me in the right direction about sending a letter off asking to freeze interest etc. on a loan I have with Santander.

I am paying it off through my DMP with PP but when they send me statements, the money I've paid off is wiped out by the interest they put back on so I'm not really getting anywhere with reducing it.

Apologies if this information is on the forum somewhere I just thought it may be quicker to ask rather than search

Muchas Gracias

carlyfluck

Hi captin america!!!
If you look a few pages back there is a letter that someone posted for me as im having exactly the same prob but with lloyds x

CaptainAmerica

Found it copied and pasted it and will be posting it.

Many thanks Carlyfluck :T

esj13

Equilibrium13 wrote: »

Hi,

There is a template letter in the pack that StepChange send you, that you need to fill in and send to your creditors. The one that says upu are having financial difficulties and that SC are helping you etc. But if you are including debts with your bank or credit card debts affiliated with your bank in the DMP then speak to StepChange before writing to them.

I emailed my paperwork to them on sunday, my plan was set up on tuesday. I've found StepChange very helpful and everyone i have spoken to has remained calm and supportive when i've called with endless questions and worries. I have payday loans as well, they told me to write to both the creditor and my bank to cancel the continuous payment authority. There is info and templates on the StepChange website for that. I was advised to make a token payment as well and SC will taka over managing the payments in November.

Good luck

How much of a token payment did you make to each? And was it by postal order?
Im just filling out my paperwork for SC now.

Also payday loans often dont give your loan a reference number. In this case what information should provide SC with to identify me with the loan companies when they contact them? I have emailed SC but the offices are closed now and would ideally get this done tonight.

*Foolish*

esj13 wrote: »

How much of a token payment did you make to each? And was it by postal order?
Im just filling out my paperwork for SC now.

Also payday loans often dont give your loan a reference number. In this case what information should provide SC with to identify me with the loan companies when they contact them? I have emailed SC but the offices are closed now and would ideally get this done tonight.

If you can manage your account online then there should be an account number. Or if you've had any email correspondence with any of them. If not, you may have to give them a call, just tell them you're starting a DMP, quote the reference number and request your account number, don't enter conversation about anything else.