DMP & Mutual Support Thread - Part 9

dad2one

DebtMagnet wrote: »

Thanks for this dad2one, useful information especially as one of my initial refusals is for 2 accounts I have with HSBC.

Its really helpful to know how things may well pan out further down the line as pre-warned is pre-armed!!

So HSBC have refused your DMP proposal? Did they do this to you in writing?
Edit: That makes me think. HSBC have never implicitly accepted or refused my DMP... just at last acknowledged the fact that I'm on one.
..and then only verbally...

DebtMagnet

Hi

No they haven't said anything to me directly, I just had two letters from SC telling me that they had refused to accept the offer of reduced payments on both accounts.

It may just be a standard response but as I said its useful to have a heads up of how things may pan out so thanks!

dad2one

Ah well. SC will just keep making the payments anyway and as with everyone, they will just have to come round to accepting them. 'Acceptance' will go one way or the other later on, but yes, it will be a little while, then you'll get your arrears and then default notices. Sounds like they may continue charging you interest so watch for that. Good luck anyway.

Edit - I don't know your story but if you haven't made your own contact / letter to HSBC explaining things, it might be worth doing so rather than leaving it all to SC. Just a thought in case you haven't done that.

FreyaWillow

Hopelessly_Hopeful wrote: »

Hello and welcome

Always a solution. They cant have what you don't have. There are many laws to protect you. Suggest you do as many of us did, stock up with fluids and start at the beginning of the threads (I went back a couple too me a day and half) it was so inspiring and I learnt lots too.

First thing to do is get your letters sent off recorded delivery, plenty of templates on debtline website. You can borrow paragraphs from different letters. In same one, inform them you are seeking advice, ask them to stop interest, send token £1, tell them contact in writing only and ask them to acknowledge your letter. Will stand you in very good stead. If you do answer the phone make sure you get name of who it is. Don't answer anything you don't want to. If you feel upto it tell them you have asked for contact only in writing and you will be reporting them. Trust me on this, they soon want to hang up. My how the worm turns

Hope you feel better soon for taking charge of the situation. It gets better, its not easy but it does get better.

Please let us know how you get on.

HHx

Thanks HH and Foolish. I have been reading through the forums.

I am finding it really hard to sleep and to concentrate on other stuff during the day
I am dreading Christmas as I have a large extended family and not much money to pay for Christmas pressies. I usually spend a lot on everyone and this I can't even afford to spend £10 on each of them. Not sure what I am going to do. I feel so stupid for getting into this situation. In total my debts come to £13859 I was getting it down until I started on the payday loan spiral and now it's rocketed. My repayments for them are so huge I have no money to start paying back anything else. It's hit me this month how bad it is and I can see no end in sight. The only person I have told that I am in trouble is my mum and she doesn't know the half of it. It's so scary and lonely going through this on your own. It's nice reading the forums as I kind of feel that I am not so alone I cry a lot at the moment and think about ending it all. I am hoping things will get better eventually.

I hope one day to be putting my own inspiring story of how I am debt free at some point in the future. The thought of that is keeping me going through the darkness at the moment

I have sent my letters saying that I have approached stepchange for help and have only so far got a response from H&M who were lovely

*Foolish*

Wooooo PPI refund has been upheld from mortgage! I'm over the moon. I had sent letters about it about 5 years ago but didn't follow anything through as I didn't really know much about it and just left it. With the help of Martin, I started the ball rolling again about 2 months ago and I just got my offer letter today. It's 50% of what we paid but this is because my mortgage at the time was with my ex partner, so he is entitled to the other 50. It's the best news I've had for a while!

Puzzcat

FreyaWillow wrote: »

Thanks HH and Foolish. I have been reading through the forums.

I am finding it really hard to sleep and to concentrate on other stuff during the day
I am dreading Christmas as I have a large extended family and not much money to pay for Christmas pressies. I usually spend a lot on everyone and this I can't even afford to spend £10 on each of them. Not sure what I am going to do. I feel so stupid for getting into this situation. In total my debts come to £13859 I was getting it down until I started on the payday loan spiral and now it's rocketed. My repayments for them are so huge I have no money to start paying back anything else. It's hit me this month how bad it is and I can see no end in sight. The only person I have told that I am in trouble is my mum and she doesn't know the half of it. It's so scary and lonely going through this on your own. It's nice reading the forums as I kind of feel that I am not so alone I cry a lot at the moment and think about ending it all. I am hoping things will get better eventually.

I hope one day to be putting my own inspiring story of how I am debt free at some point in the future. The thought of that is keeping me going through the darkness at the moment

I have sent my letters saying that I have approached stepchange for help and have only so far got a response from H&M who were lovely

Hiya Freya,

Well done on the progress you have made so far. Please don't feel stupid, we are all in the same boat over here and have all had similar feelings to yourself. Personally I am the only person.. bar all the lovely peeps on here of course that know i'm 59k in debt.. I have been in debt since my first credit card at 18 and never looked back.. i've done consolidating and snowballing and nothing has worked for me so now i'm starting my dmp and the relief is amazing... My partner knows i'm in debt but not the amount, and that's the way I intend to keep it.. After all until recently he didn't even know that so it is a step forwards.. My parents think i'm wonderful with money..:rotfl:

Come on here and share your thoughts, worries and questions... and keep it will all get better.

Love Puzz. x

Puzzcat

*Foolish* wrote: »

Wooooo PPI refund has been upheld from mortgage! I'm over the moon. I had sent letters about it about 5 years ago but didn't follow anything through as I didn't really know much about it and just left it. With the help of Martin, I started the ball rolling again about 2 months ago and I just got my offer letter today. It's 50% of what we paid but this is because my mortgage at the time was with my ex partner, so he is entitled to the other 50. It's the best news I've had for a while!

Lovely news, well done.. :T

Find_The_Real

*Foolish* wrote: »

Wooooo PPI refund has been upheld from mortgage! I'm over the moon. I had sent letters about it about 5 years ago but didn't follow anything through as I didn't really know much about it and just left it. With the help of Martin, I started the ball rolling again about 2 months ago and I just got my offer letter today. It's 50% of what we paid but this is because my mortgage at the time was with my ex partner, so he is entitled to the other 50. It's the best news I've had for a while!

Congratulations on the PPI reclaim Foolish, it is certainly worth doing it if you think you were mis-sold, especially if it was with First Plus as their tactics were terrible. Glad you are getting 50% back from the joint one.

My claim won't pay out unless I get agreement from the ex from hell which isn't going to happen but seeing they are going to offset it against the debt, I'm not that fussed as even if that didn't happen the IVA would capture it instead. So unless you have an ex from hell like me, I would always recommend claiming any PPI due!

Find_The_Real

FreyaWillow wrote: »

Thanks HH and Foolish. I have been reading through the forums.

I am finding it really hard to sleep and to concentrate on other stuff during the day
I am dreading Christmas as I have a large extended family and not much money to pay for Christmas pressies. I usually spend a lot on everyone and this I can't even afford to spend £10 on each of them. Not sure what I am going to do.

I have sent my letters saying that I have approached stepchange for help and have only so far got a response from H&M who were lovely

Welcome to the board Freya. Most of us probably feel stupid over our debts, I know I did and felt terrible the first time I didn't pay in full, but with the help of SC it will get better. I owed almost £62K and lost a house through a rather messy break up but to be honest I am far happier than I was before!

As for Christmas, although I know how it is good feel generous, I think everyone, even those not in financial trouble are feeling the pinch at the moment, so why don't you suggest only close family members this year will get a present or that you are only going to give cards. I only give to parents and my sibling, the rest including friends just get a card and to be honest everyone is happy with this arrangement.

Good luck with it all and although I know it is hard at the beginning do try to stay positive as things will get better.

Find_The_Real

Hopelessly_Hopeful wrote: »

Good points FTR. How are you doing? IVA sorted?

HHx

Hi HH,

Thanks for asking.

Well the IVA has been accepted almost 2 months ago now and I know I shouldn't be moaning or anything at but I am still finding it really strange that after 20 months of DCA's being my bestest friends of just how quiet things are, no letters, no phone calls! Just waiting for the PPI to be sorted out and the certificate so I can truly say the legal side is all over and then it is just plodding on paying back the bank of M&D.

Certainly a big relief though after the nightmare of the last couple of years.