DMP & Mutual Support Thread - Part 9

Growurown

Mossop01 wrote: »

Hopefully it won't be as bad as u imagine x

Hi Mossop, hopefully not. Sometimes I wish we could do without the cars but no way to get to work without them:(

Hmm perhaps I should have a career change and become a mechanic:eek:

Seeing as all cars look the same to me I don't think I'd be much good at it;)

Mojo13

Having one of those wobbly moments as I'm very new to DMP only my first payment to Stepchange this month. At the moment we are just on a base rate mortgage just wandering what happens if we try to fix a rate again later down the line, should the interest rate go up, does the DMP mean we will never be able to do this again or if we stay with the same provider do they not do any new credit checks??

Hope that question makes sense, in my head it does but then lots of things in my head make sense.

Mo:o

Mossop01

Mojo13 wrote: »

Having one of those wobbly moments as I'm very new to DMP only my first payment to Stepchange this month. At the moment we are just on a base rate mortgage just wandering what happens if we try to fix a rate again later down the line, should the interest rate go up, does the DMP mean we will never be able to do this again or if we stay with the same provider do they not do any new credit checks??

Hope that question makes sense, in my head it does but then lots of things in my head make sense.

Mo:o

Hi as far as I'm aware (I may be wrong) but u can get fixed rates whilst on dmp, however they're probably not the best fixed rates... Does that make sense?
Our mortgage is currently on a fixed rate but the SVR at the moment is much lower than our fixed rate so I'm quite happy for it to automatically go onto SVR at the moment. I think they would do credit checks if taking out a new fixed rate. Who knows what interest rates will do in the future tho but can't worry about something that hasn't happened yet I suppose.

Find_The_Real

Growurown wrote: »

Thanks guys! I have seen that episode of the big bang. I love that programme! Although I was thinking of doing a Homer Simpson and just putting a piece of sticky tape over it!

I have to confess I have never seen that programme, the taking the bulb out the dash used to be a standing joke when I worked for a car dealership when ECU's and electronics started to appear. Guess things sometimes never change much.

Growurown

Find_The_Real wrote: »

I have to confess I have never seen that programme, the taking the bulb out the dash used to be a standing joke when I worked for a car dealership when ECU's and electronics started to appear. Guess things sometimes never change much.

You should give it a go, it's always being repeated. I find it very entertaining:D

Hopelessly_Hopeful

Morning All


GUO I hope you get the car troubles behind you.


Mojo, your only chance of competitive rate is by sticking with your existing lender. If it goes up you just adjust your DMP down accordingly. The way I rationalised it was a) putting the scenarios into the mortgage calculators - it usually makes very little difference just for a few years. Also b) I decided that post DMP I am going to put at least 75% of my DMP payment into overpaying the mortgage. Again I did that with the help of the overpayment calculator. Being on a DMP has been challenging but also very thought provoking. I'm quite clear about my pension plan, mortgage free wanabee and work life balance as a result. Hope it does the same for you and all our other DMP friends

Have a good start to the week all.


HHx

Puzzcat

Guo I hope the car gets sorted soon and is not too expensive...

Today is my first dmp pay creditors day..:T

And.. my freezer has broken.... and is full....:eek:

Thankfully I have a little emergency fund so just need to locate a cheap freezer fast....... will report back......

supersavershal

Nine months into my DMP and it was going so well. All interest stopped and no problems.
Then last week car went wrong, it needs £400 work to get on road then another £150 for tax. I just don't think it's worth it. I drive 50 miles a day for work, it's a big car (7 seater) costs a lot in petrol and tax etc.
My parents neighbour is selling their car, they've only used it once a week for shopping. It's only done 29000 miles, is cheaper on tax, ins and fuel. I've cobbled together my emergency fund and a few bits but I am 600 short. My step change payment is £990, would they allow a reduced payment so I can get this car. In the long run it will free up money that I can put into my DMP.
And if I can make a reduced payment will creditors start ringing again and introduce interest and charges.

dawnofwar

Hello,

I hope its ok to join this thread, i have been lurking for a while and found your advice invaluable but i have a issue that im hoping for some advice about.

My husband and I have a joint DMP with Payplan. We have 3 outstanding debts, 1 with Barclaycard (which they have accepted) and 2 loans with Barclays (1 each).

We have just made our third payment to Payplan yet we are receiving phone calls from Barclays monthly as they say they have not received our offers (the paperwork only, they have received and acknowledged the actual monetary payments) from Payplan. The last time this happened was regarding my own loan at the beginning of the month, so i contacted Payplan who, whilst i was on the phone, sent both mine and my husbands information over to Barclays electronically.

Now last night my husband had a phonecall from Barclays who say they have nothing on their system regarding this and they will put his account on another 30 day hold until they receive it.

Now this is twice that Payplan have sent them the information and twice that Barclays say they haven't received anything.

I realise that it is still early days but im getting frustrated with receiving phone calls to have to explain everything all over again, only for the account to be put on 30 day hold then start getting phone calls again when its finished.

Obviously i am going to ring Payplan again this morning, but i wondered if anyone else had had the same issue with Barclays and is there anything that my husband and I can send them directly to try and get them to receive the documents?

Thank you.

lizzy23

Mojo13 wrote: »

Having one of those wobbly moments as I'm very new to DMP only my first payment to Stepchange this month. At the moment we are just on a base rate mortgage just wandering what happens if we try to fix a rate again later down the line, should the interest rate go up, does the DMP mean we will never be able to do this again or if we stay with the same provider do they not do any new credit checks??

Hope that question makes sense, in my head it does but then lots of things in my head make sense.

Mo:o

My current fixed deal runs out in December, i have got another fixed rate deal with my current lender 2.99% fixed until December 2018, by which time i should be nearly finished on my DMP and be able to over pay and get rid of that as well
.