DMP & Mutual Support Thread - Part 9

Mojo13

Hello All,

Nice to read of some of the results people have had and to hear from those that have been on the DMP journey for a while.

I have a question which I may have asked already but had a statement from a Halifax Credit Card today, looks like that have frozen the interest as it's not showing on there but the minumun payment they are looking for is much more than SC payment, not to worried about that but there is a big paragraph in Capitals, warning me that if there are 'funds avaialble in another urrent account or savings account that you hold with us, even if it is a joint account they may take it', my children have savings account with the Halifax for which I am a signature, should I move that money ASAP, it's not what I think of as a joint account but would hate them to lose all the birthday money and Christmas money they have saved.

Mo:(

Puzzcat

hello fellow dmp'ers...

Sorry Mojo I don't have an answer for you but I'm sure its come up before and the verdict was the money was safe.. but I'm sure someone will be along shortly to advise..

Find The Real, yes thanks I go BC sorted. I didn't contact SC just used my online account for BC and we sent a few messages back and forth but think we got there in the end. They were very nice so on complaints yet and I think they have frozen interest.. not had any communication with them at all until my online chat.....

Cap One and RBS have sent statements both show no interest..:T

Natwest seem to be a muddle in themselves, old od account shows no new charges, the cc shows interest etc but they have written to say this will stop after receiving SC payment, no idea what is happening with the loan.. Halifax very quiet no statement yet.... creation advised interest of 0.72% I assume per month so battle will commence with them once payments are made. M & S I'm waiting for a statement from... so I believe at least 1/2 if not 3/4 have stopped the interest or have agreed to...

I think the token payments confuse them as well because at least 3 have agreed to a £1 a month which is what I have been paying even though SC have written with the proposed amounts.. I'm sure it will all come out in the wash....

Lovely to hear from people further down the line than us newbies.. its so sad but I want to be saying... this time last year I started my dmp... etc etc... Will be a long time before I can say.. I'm df mind.... never mind I'm finally on the right path.

Thanks to everyone who contributes, advises and updates on this thread.. :T

Sazzie23

Hi Puzz,

I'm nearly 8 months in and the times has flown by, so your first year will zoom past once everything is set, - seems like it is now.
Well done with sorting out the BC issue.

Sazzie23

Mojo13 wrote: »

Hello All,

Nice to read of some of the results people have had and to hear from those that have been on the DMP journey for a while.

I have a question which I may have asked already but had a statement from a Halifax Credit Card today, looks like that have frozen the interest as it's not showing on there but the minumun payment they are looking for is much more than SC payment, not to worried about that but there is a big paragraph in Capitals, warning me that if there are 'funds avaialble in another urrent account or savings account that you hold with us, even if it is a joint account they may take it', my children have savings account with the Halifax for which I am a signature, should I move that money ASAP, it's not what I think of as a joint account but would hate them to lose all the birthday money and Christmas money they have saved.

Mo:(

Hi mojo, not something I have dealt with but sure the question was answered previously as Puzz says that the money was safe. If you are worried though, maybe you could move accounts - to get a better rate? Or withdraw most of the money until the danger is passed?

Puzzcat

Halifax statement has arrived....no interest or charges showing...:T

alyxzandra

Puzzcat wrote: »

Halifax statement has arrived....no interest or charges showing...:T

Well done!!! Better than what I had with them. They kept charging interest and when it went to the collection agency I brought it up. Well, got some of them reversed. On my husband's loan they are still charging interest, though. But, got them to lower it.

alyxzandra

January will be our one year anniversary on a DMP. We did a review last month and our review is not due until next October. Since being on it we have been able to lower our expenses. I was spending £350 a month in travel costs to work. So, I ditched the parking space I was renting from my job (£50) after finding a different way into work. I now drive partly into work and park near a train station that has free parking and spend £2.80 each way on my Oyster. My travel is now down to £170 per month with the added bonus that I now drive about 30 miles a day instead of 60. So, less wear and tear on my car.

My dog is elderly with arthritis and her insurance company was charging £75 a month and then wanted to up it to £92. I figured with the extra money it was cheaper to just buy her medication and took out another insurance for £19 a month in case of anything else that comes up. Her medication is costing about £10 a month.

My tariff is coming to an end in January with my energy supplier and I am looking to ditch and switch as they keep raising the amount of money they want each month. I did some checking and once I ditch them my bill will go from £178 a month to £117. And I found doing dual fuel is more expensive than using two different energy suppliers.

I spoke to Sky and they have given me a reduced pay of £15 a month instead of £24 a month. My husband has gotten rid of his old mobile phone contract and it went from £25 a month to £8 a month. Mine has stayed the same as I use my phone more often.

On the bad side. I got my first speeding ticket in more than 20 years and I am in the midst of fighting it. And in the same week I got caught in a box junction when traffic suddenly stopped in front of me. So, fighting that one.

My husband has agreed that we should pay off two of our creditors come January and February using the council tax money we will not pay for those two months. So, two creditors (although very small amounts, still something) will be gone in February. And I found out I am not losing my job this year!

It has not been easy. We got nailed with debts in 2009 when cowboy builders took all the money we saved for an extension and left us with an empty shell. We did all the right things. Phased payments, references, etc. We even went to a house to look at their work and it turned out these people were friends with the builder! So, £30,000 had to go on credit cards to redo the whole extension. It had to be done as we made the property into two bedrooms and my son's room was the former kitchen. And our living room was left open to the elements with just plywood for a roof. They put in fake electrical wiring, plumbing, etc. And the planning department inspector knew they were cowboy builders and never told us until after they walked off the job. On top of it, I had to help my mother in the U.S. that cost me over £20,000. We started with debt exceeding £60,000 and soon we will see it go below £40,000.

Once this nightmare is over no more credit cards, loans or anything else. And we will be saving for a much better car than we have now. I've never been in debt like this and neither has my husband. The day we are out of it we will be celebrating like mad!

Puzzcat

Have just written my first 'complaint' please freeze the interest letter to creation.. bit cheeky maybe as they haven't even had the first payment yet. But, if they do charge I will be paying a grand total of £4 off my debt each month.. so letter ready to post... puzz has her claws out......

Thanks Sazzie, as you say i'm sure the months will fly by, if this year is anything to go by!

And Aly you are doing so well, thank you for the update.

missje74

Hi puzzcat I waiting to hear from creation as well, only a small debt with them but they have only had 2 payments from me so not holding out for them freezing interest, will let you know if I hear from them .....

Puzzcat

missje74 wrote: »

Hi puzzcat I waiting to hear from creation as well, only a small debt with them but they have only had 2 payments from me so not holding out for them freezing interest, will let you know if I hear from them .....

Hi missje, let's hope we both get the right result!! They are one of my smaller debt too, and have had lots of interest from me over the past few years..... keep us posted...