DMP & Mutual Support Thread - Part 9

jubilee14

Mossop01 wrote: »

Hi all just had confirmation of a ppi refund from hsbc, will they offset this against my debts with them? Or will they send me the funds so that I can pay off a chunk to my dmp treating all creditors fairly? I could really do with some of the lump sum as my boiler is on its last legs and I'm worried if I do throw all the refund at the dmp then my boiler will give up completely and I will have nowhere to turn? Any advice? Thanks

Brilliant news Mossop re how you get it back i think i read that they offset your debt with the actual PPI but the interest applied is sent back to you direct. Also check re tax as its applicable on the interest ( if the bank hasnt taken it off first)

i looked into PPI but couldnt find my account details and neither did the bank as it was so old. Do have a hfx cc which paid ridiculous amount on until i finally got them to stop taking it but not made a claim.

Great to see them paying of some or your debt though:T

Growurown

toomuch2 wrote: »

Thanks for the support. Going through the painful process of my building my SOA

Well done!

Sazzie23 wrote: »

:eek: it hurts but it's worth it

Quite right Sazzie:D You can't deal with a problem until you know what the problem is. Once you have done your SOA toomuch2 you will feel a lot better because at least you know what you are dealing with. There is no debt problem that can't be sorted, and this first bit is the tough bit, and you will get lots of helpful advice and support from this thread.

schmalf

Hello all, posted on here March time about entering a DMP but since have been lurking / worrying / faffing and not doing it. Well I am finally sick of having no money, spending most of my time panicking about it all, robbing Peter to pay Paul and having heart palpitations from the stress of it all .
So I am on it.
Have so far opened a new bank account with RBS (not linked to any debts), have just received confirmation of all my non debt direct debits having switched so I am fully set up now. Have cancelled the debt direct debits from my old account with HSBC. Have made my first token payment of £1 to Virgin and told them I am having difficulties and talking to Stepchange - they have replied and agreed to give me 30 days to set up what I am doing, and also agreed only contact by post or email. Have withdrawn money from old account to new account. Will be making my other three token payments this week to Halifax, Barclaycard(Egg) and HSBC and informing them I am in difficulties.
After these payments are made (via internet banking from old account) I will then send my Debt Remedy DMP application to Stepchange. Didnt want to do this till I had made the token payments and got my new account fully operational as I was worried that it could interfere with the process if any of the banks got wind of the imminent DMP.
One question I have is that I have a small branch based saving account with Halifax. I lost the book so they are sending me a statement and said I would need to take this and ID to a branch to withdraw the money - spoke to them last week and they said it would be with me within 15 days. Obviously by this time I will have made the token payment - can they offset from a branch based savings account? can they block me trying to withdraw?
Feeling really worried but also positive. I spoke about putting my other halfs debts into the DMP too in my March post but have since decided against it. Think it is better that his credit rating isn't bashed to bits too, plus by having an affordable payment into the DMP we can clear the debts he has (v small compared to mine!) and then put the spare onto the DMP, hopefully finishing it quicker. So just have to break the news to him and hope he sees the positive side of all this, ie me not having an internal breakdown every time we need extra money for something and also getting our lives back a bit. I have been so flippin frugal these past few years struggling to pay all our bills that even going onto the DMP will make me feel like Ive actually got some money - now that's a LBM if I don't know what.
Does this all sound like I am doing the right things to you all - thank goodness for finding this board and all the inspiring people on it - don't know what I wouldve done without finding it. xx

Puzzcat

Hi schmalf, all sounding very organised. With the right to offset is there anyway you can hold off telling Halifax until after you have your paws on your cash?

esj13

So yesterday I returned my DMP paperwork to SC and today sent my letters with postal order token payments 1st class signed for so they can't deny having recieved them.

In your experience how long does it normally take SC to set everything up? And when does the DirectDebit start?
Do they write to you before all this is sorted?

Puzzcat

esj13 wrote: »

So yesterday I returned my DMP paperwork to SC and today sent my letters with postal order token payments 1st class signed for so they can't deny having recieved them.

In your experience how long does it normally take SC to set everything up? And when does the DirectDebit start?
Do they write to you before all this is sorted?

Hi, I requested a start date, if you haven't It will either be 1st Nov or 10th nov but more likely Dec now. They do write or email to confirm when your first dd will come out and how much they will be paying each creditor.

AnnM48

Hi All,
Just a bit of an update from me....
After advice from Hopelessly Hopeful back on the 7/10, I finally got my butt into gear and got around to sending a letter to Halifax about my two overdrafts, for £650 and £2000. I used the letter template supplied by TTFTM, and just added in some of my own personal experiences of numerous telephone calls to try and address the interest and charges I was getting. I was just getting nowhere with those calls, passed from one department to the next while my charges kept mounting. Anyway, posted the letter on the 17/10, signed for first class, I was able to see it had been delivered early on the 21/10. I had a voicemail around 5pm on the 21/10 asking me to call the customer services department regarding my complaint.

I returned the call today...feeling a little nervous... and got a lovely, very helpful girl on the line. She acknowledged my letter and apologised for the service I had received...she then gave me the option of keeping my account and repaying within 6 months, or just closing it now, removing the overdraft and transferring to the 'recovery' department. I obviously opted for the second option as this is what I had wanted from the start. All fees and interest will now be frozen and she refunded me the total of £311.50 of charges across both my accounts, which brings my overdrafts back within the limits and are now actually reducing!! Hooray!!:j
For the icing on the cake, she is also sending me a cheque of £100, (so that I can decide how to use it,) as an 'apology' for the service given and the fact that I had to send a letter!

I am so pleased that I had actually made the effort and followed the advice of more experienced 'DMP'ers' on this forum!! The £100 will now pay for my new shock absorbers (which I had been panicking about paying for) for my car to hopefully get it through the MOT at the end of this month!!

So thanks again for the advice:T, and for anyone else in the same situation I definitely think you should take half an hour of your day to get a letter printed and posted off!

Mojo13

Just logged on to my DMP with SC for the first time, password came today. On all my Barclaycard Debts instead of my original account numbers it says 'opening new account' does any one no what this means or is it exactly what it says and they are just opening new accounts for some reason.

Thanks in advance

Mo

Equilibrium13

Hi Mojo13,

Do you bank with Barclays or an associated bank?

I have 2 Barclaycards and a Barclays account with overdraft so am opening a new basic account. Until this is up and runninng SC won't inform Barclays of my DMP. I have 'opening a new account' next to all 3 on my list of creditors.

Sazzie23

Morning All

well done AnnM sounds like you put an afternoon to very good use.
have a good day