DMP & Mutual Support Thread - Part 9

Puzzcat

fermi wrote: »

Moneygroup DMP costs.

Initial Fee: Your first two monthly payments which are paid to Us as a set up fee and not paid to Your Creditors. :eek:

Monthly Fee: the Monthly Fee payable for our Services. This is 17.625% of Your Monthly Payment (apart from the first two payments which are the Initial Fee), subject to a minimum of £35 and a maximum of £100. :eek::eek::eek:

Ouch.....well the best advice I can give is for the previous poster to cancel the dmp with them and start again with a free one like stepchange or payplan.

Growurown

Find_The_Real wrote: »

You could also have a moan and see what Amazon come back with as that quite often helps with them if you push it enough!

I'm afraid I am way too honest and wouldn't want to keep it.

Yes I will see if we can persuade them to let us send it back via the Royal Mail and then I can take it to the post office myself. The problem with the courier is that they book a day to collect but can only tell me on the morning they collect a more specific time. We aren't in work from 8 to 6 and neither are we at home for all that time. I live in a rural area and don't have many neighbours. The ones I do have are all very elderly and my closest neighbour is poorly so I don't like to ask them.

Katielkc wrote: »

I am struggling, I have now paid 2 payments to Money group so 15th December they will finally start paying off my creditors, though I am really getting down on things as today was payday..just not for me! Its nearly xmas and after splitting from childs father approx 1 month, has been new house, new rent new double bills as only 1 wage its been a struggle to say the least!

Can someone just tell me it gets easier and eventually I'll be able to treat my daughter to something that wil lmake her eyes light up at xmas??

I now have an outstanding loan that hasn't been paid..that cold do with being paid from MRlender..i pay recurring rollover fee of ~£87 can i now add this onto my DMP? x

Hi Katie, I agree with Fermi and Puzz, ditch this company and go through one of the free providers.

It will get better. I have been on a DMP for over two years and although it hasn't been all plain sailing I am in a lot better place than I was when we started.

*Foolish*

Another day, another default. It's funny how, when on a DMP, you actually want defaults! Capital One (Luma) have obliged now, defaulted and all interest frozen. That's 5 down, 14 to go!

Growurown

*Foolish* wrote: »

Another day, another default. It's funny how, when on a DMP, you actually want defaults! Capital One (Luma) have obliged now, defaulted and all interest frozen. That's 5 down, 14 to go!

Good result Foolish. Capital One were no problem when we went our DMP, stopped interest straight away and not heard a peep out of them since. They still send me emails to notify me my statement is ready but they won't let me access them. :rotfl:

Sazzie23

Growurown wrote: »

Good result Foolish. Capital One were no problem when we went our DMP, stopped interest straight away and not heard a peep out of them since. They still send me emails to notify me my statement is ready but they won't let me access them. :rotfl:

Nice work Foolish, Guo can I ask how did you know the interest was frozen if they don't let you see the statements? Asking because I have that issue with one of my creditors

Hi Katielkc

Stepchange, debtline and payplan are all fee free I believe, it is usually not a problem switching as more of your money goes to the creditors. From what you say you might have made your budget a bit too tight for comfort, I think a lot of folk do that at the start but the advice I've had from people here is 'remember you have to be able to live' and it's a marathon not a sprint.

Putting that aside I think it will get easier when you have settled into more of a routine, a big personal drama like that is difficult enough when you don't have children and financial woes.

Hope you get sorted out, come back here for advice, support and ideas and it's all free:rotfl:

Sazzie23

Oh and Guo, like you I am comfortable with being honest too, but it's a pain when they misbehave like that. I've been lucky and been able to palm my parcels off to friends who are in all day.

Give customer service a hard time, or could your parcels be collected from a works reception maybe?

Growurown

Sazzie23 wrote: »

Nice work Foolish, Guo can I ask how did you know the interest was frozen if they don't let you see the statements? Asking because I have that issue with one of my creditors

Well they are supposed to send you a statement but I've never received one. I don't know if it is because they email the statement but they stopped my internet access when I went on the DMP. I phone them and get a balance. I do this with all my creditors (just in case) and make sure I update my balances on the SC website. Capital One have told me that all interest and charges have been stopped and won't be reintroduced at any point so my balance should be easy to calculate.

Sazzie23 wrote: »

Oh and Guo, like you I am comfortable with being honest too, but it's a pain when they misbehave like that. I've been lucky and been able to palm my parcels off to friends who are in all day.

Give customer service a hard time, or could your parcels be collected from a works reception maybe?

Yes I will get back onto them and see what we can sort out.

Hopelessly_Hopeful

Growurown wrote: »

Well they are supposed to send you a statement but I've never received one. I don't know if it is because they email the statement but they stopped my internet access when I went on the DMP. I phone them and get a balance. I do this with all my creditors (just in case) and make sure I update my balances on the SC website. Capital One have told me that all interest and charges have been stopped and won't be reintroduced at any point so my balance should be easy to calculate.



Yes I will get back onto them and see what we can sort out.

Hi

They have to send you a statement at least annually and you are entitled to request one too. Good news on the interest but I'd want some written confirmation.

HHx

Hopelessly_Hopeful

*Foolish* wrote: »

Another day, another default. It's funny how, when on a DMP, you actually want defaults! Capital One (Luma) have obliged now, defaulted and all interest frozen. That's 5 down, 14 to go!

Great news

HHx

Time_to_face_the_music

Katielkc wrote: »

I am struggling, I have now paid 2 payments to Money group so 15th December they will finally start paying off my creditors, though I am really getting down on things as today was payday..just not for me! Its nearly xmas and after splitting from childs father approx 1 month, has been new house, new rent new double bills as only 1 wage its been a struggle to say the least!

Can someone just tell me it gets easier and eventually I'll be able to treat my daughter to something that wil lmake her eyes light up at xmas??

I now have an outstanding loan that hasn't been paid..that cold do with being paid from MRlender..i pay recurring rollover fee of ~£87 can i now add this onto my DMP? x

Hi Katielkc and welcome :hello:

As others have said here already, please do not pay for a DMP. You will not get anything from a fee paying company that you can't do yourself or by using a free service like StepChange, Christian Against Poverty or Payplan. Check out Fermi's excellent thread on this subject:

https://forums.moneysavingexpert.com/discussion/4228011

If you feel like you can manage this alone and do not need the support of a DMP company, check out the NED CAB self managed DMP:

http://mymoney.nedcab.org.uk/moneyadvice/signup.asp

I really hope you come back and read all of these messages and stick around for the experience, help, advice and support you will get on this thread.

Sazzie23 wrote: »

Stepchange, debtline and payplan are all fee free I believe

National Debtline offer excellent debt advice but they do not provide a DMP service, they do refer clients to StepChange, Payplan etc but some people have said it actually slows down the process a little.

There is another company with a similar title to National Debtline who are playing on their good name but are actually a fee charging service :mad:


Bit of an update on my news: Bad week here with a totally dead car and the need to find a replacement quickly. Thank goodness for saved up endowment shortfall funds and the ability to borrow from it

Oh well, I can pay it back when I get my redundancy money and we did manage to get a bargain. Have also reverted to petrol as it's so much cheaper than diesel ... watch it go back up again now I have written that :rotfl:

Count down to last few weeks in work now, I finish on 19th December and am officially made redundant on 31st, then start new job on 1st January. I have also managed to get a job for one of my colleagues and am so happy for her :j

Work are making the redundancy process as difficult as possible and I can't wait for this time to be over and get out of there. Am really looking forward to Christmas but am so disorganised and still have no idea what daughter or granddaughter want for Christmas and who is or isn't coming here this year. Oh well it will all get sorted out and we will have a good time :snow_laug

Seems to be a lot of good news here re defaults and interest being frozen, which is always good to hear. But have just been reading a thread on the main DFW board about Payplan failing to get interest stopped for one of their clients, so my advice is always:

Remember while someone else may be dealing with the distribution of the payments to your debt, it is still YOUR debt and you need to keep control of what is going on. Check everything, keep your own records/spreadsheet, keep every piece of paper that a creditor/their agent sends to you and above all, fight to get the interest stopped and refunded. If you need help with this, ask here, someone will advise you and provide template letters etc.

OK that's my ramble over