DMP & Mutual Support Thread - Part 9

Sazzie23

Mojo13 wrote: »

Thanks Sazzie and Puzz,

I gave in in the end and just got my name taken off, left Grandma as the sole name on there, I just couldn't live with the slight possibility they may take it, you know how small things become so big in your mind.

Mo

Sounds a sensible solution and saves a lot of worry too - great move.

Mojo13

Well I knew it would happen and the letters of a not nice tone would eventually come in. Got my first one this morning from Barclays demanding full repayment of my overdraft. It says in it if I can't do that in 14days to ring them. I am a little nervous of doing this so thought the best thing might be to send a copy to Stepchange what do others do in this situation.

Thanks

Mo

Puzzcat

Mojo13 wrote: »

Well I knew it would happen and the letters of a not nice tone would eventually come in. Got my first one this morning from Barclays demanding full repayment of my overdraft. It says in it if I can't do that in 14days to ring them. I am a little nervous of doing this so thought the best thing might be to send a copy to Stepchange what do others do in this situation.

Thanks

Mo

Hi Mo,

I have rung those who wrote to me and just informed them again about dmp and quoted my SC ref number, most have been fine, only one was a numpty!!!

worn_out_3

Thank you all so much for your replies. We called yesterday. They said that they would have advised against getting the loan but if it was the last resort and no other way to get round it then we had to do what we had to do. They offered us a solution of giving us back this month (minus £5/ creditor minimum payment) and next month we will only pay £5/ creditor. This pretty much will cover what we need.

The garage is one which ourselves and family use and have done for years. They have agreed to fix the car and we will pay over a few months.

Thank you again for your help. The DMP has been really hard to stick to at times and I am so proud that we have managed to get through this month without resorting to getting into anymore debt.

If you don't mind I would like to stick around here, everyone seems really nice

Sazzie23

Worn out, sounds like a great solution Pleased you found us, sounds like you have plenty of advice to give here too, so welcome aboard.

Mojo

Is it one of those letters they have to send you by law before they issue a default, sometimes these do come across as pretty harsh. Probably be all ok but you have come so far already, do you think you manage to give them a call and see what they say, remember as you don't have the money, so you couldn't pay it no matter what they threaten!

Have a good debtbusting day

redscorpion1

I'm hoping some of you wise people can give me some advice.
I started my DMP around 4 months ago with payplan. so far all seems to be going well apart from my HSBC advantage bank account . This is a fee paying account for supposedly extra benefits. (travel insurances,etc)
I am overdrawn on this account around £1650. HSBC have agreed my DMP payment of £19.50 a month.
I still have to pay my Advantage monthly account fee of £12.50per/month. (This effectively makes my o/d payment only £7p/m)
I no longer want these bells and whistles additional benefits and to be honest I never did. I was probably mis-sold this along with all the other bank scams.

I have called HSBC and they have told me I can change to a free bank account and this would not affect my DMP agreement.
However this would require a monthly credit of £500 per month.
I cannot meet this £500p/m obligation as I no longer use this account and have opened a safe account elsewhere. I explained I could not credit the account this amount each month. The adviser then could not guarantee this would affect my DMP agreement.

I also have a loan with HSBC. I am worried if a I change to the free HSBC account without being able to credit the account £500 a month it may jeopardize my DMP agreed payments?


The HSBC adviser told me if I did change the account it would be reviewed every 12months for a more suitable one if I did not meet the criteria.

I am unsure what to do for the best?
Any Ideas or suggestions?

Puzzcat

Hi redscopion1,

I also had a bells & whistles account but with natwest with a big overdraft which I have included in the dmp and obviously moved banks. I included in my intial letter to them that I no longer required this account and I don't appear to have been charged the monthly fee since.. Not sure if this is any help as yours is a different bank. sometimes the written word is better than a phone call. Hope you get it sorted.
Love Puzz. x

Growurown

worn_out wrote: »

If you don't mind I would like to stick around here, everyone seems really nice

We are nice! You won't find a nicer bunch of numpties anywhere:D

redscorpion1 wrote: »

The adviser then could not guarantee this would affect my DMP agreement.

I also have a loan with HSBC. I am worried if a I change to the free HSBC account without being able to credit the account £500 a month it may jeopardize my DMP agreed payments?


The HSBC adviser told me if I did change the account it would be reviewed every 12months for a more suitable one if I did not meet the criteria.

I am unsure what to do for the best?
Any Ideas or suggestions?

Actually I wouldn't worry about it too much. I can't see how it would affect the DMP. You are paying back what you can afford so I think HSBC are being a bit picky.

Sazzie23

Puzzcat wrote: »

Hi redscopion1,

I also had a bells & whistles account but with natwest with a big overdraft which I have included in the dmp and obviously moved banks. I included in my intial letter to them that I no longer required this account and I don't appear to have been charged the monthly fee since.. Not sure if this is any help as yours is a different bank. sometimes the written word is better than a phone call. Hope you get it sorted.
Love Puzz. x

Hi Redscorp

Like Puzz we had a bells & whistles Nat West - when we went to DMP they told us they were closing the account ...so at least we were able to stop paying the fee. Maybe if you wrote to them and and said you no longer wanted the account but would continue to repay the OD through the DMP they would close it? Seems a shame to keep having to pay when that money could be put towards becoming debtfree.

Good luck with it, do come back and tell us how you get on, we like news

Sazzie23

Thanks GUO - numpties united:rotfl: