DMP & Mutual Support Thread - Part 9

Florida15

Equilibrium13 wrote: »

Samjangi, I feel exactly the same! I've counted my cash over and over again, just can't believe it It's a really nice feeling to see the money in my DMP account online, even better later this month when it will show as being distributed to creditors!

I have heard from only 2 of my creditors so far about the DMP - Vanquis acccepted the plan for 12 months, but have not frozen interest or charges - I need to write to them.

Got a letter from Next Directory today saying they have set up a reduced payment plan and suspended the monthly service charge, but only for 3 months! After this they want me to go back to normal payments. Has anyone had this response before from Next, or anyone else? Do I need to write to them and explain that I don't want to use the account anymore, just pay it off over time? As they obviously want me to get up to date with my payments and then start ordering from them again.

The rest have been eerily quiet! I have my new Barclays basic account up and running, spent the morning changing direct debits for utilities etc over and will sort out my salary being paid in there when at work tomorrow. Time to send off my DMP letters to Barclays and 2 Barclaycards now!

Sorry if this is in the wrong place but i can see you have a basic barclays account and have debts with them. We have also done this under recommendation from Stepchange. May i ask you if they have ever taken money from your new account to pay your other debts. Thanks as stressing they will empty the basic account with my wages in.

Sazzie23

Hi Florida

I think quite a few folk have done the Barclays basic with Barclays debt as they seem to be sticking to the agreement not to offset.
But if its worrying you, why not have a look round and see if there is another account you can have to transfer your wages into, anything to reduce the stress.....

CommitedToChange

Hi all,

So I'm having a minor panic and just needed to tell someone - so I'm telling you guys.

I thought I'd just look at my balances and see how they compare with the noddle credit report - only to discover a new debt has appeared on the credit report. :mad:

HSBC are claiming I owe £6994 :eek:

They are claiming I defaulted in March 2011 (when I did start my DMP) but the first default is dated Oct 2013 - and they aren't on my payment plan. I've also never had a letter from them.

I don't see how I could have missed such a large debt - and I have a sneaking suspicion that I closed this account a long time ago - using a loan I took out.

BUT

What if I didn't, and I have to add this debt on to my plan - that's just short of all the money I've paid back over two years. I'll be right back where I started two years ago. It will add on another 14 months to my DFD.

I'm stuck at work until 8pm so I can't pull out all my paperwork to see what is going on until I get home at 9pm.

Currently I have this sinking feeling in the pit of my stomach that I do owe this money and that I've just taken a huge step backwards. I know I can't do anything until I get home - and I've never had a letter from them even though the default is listed in October.

Thanks for reading - I'm just gutted as I was just thinking how well I'd done and how I was going to make such an effort to make a bigger inroad into the debts next year - maybe clear one with an F&F.

CommitedToChange

Ah, panic over - for some reason HSBC have decided they would like the money back twice. They have passed the debt over to Idem - but have decided to also list themselves as being owed the money on my credit file.


Any idea of how to undo this - or do I need to call them to try to sort this mess out?


My credit file is screwed enough without a default being newly added almost 2 years after all the rest :mad:

Sammi1607

Hi all - I've not been around for a good while. DMP is going well, just finished our second year and are keeping head above water.

I need some advice - I've just inherited £1.5k and would like to get shot of the Halifax who are the only ones still charging sill interest 21.9%!! The debt is currently standing at £2.4k. Do you think I stand any chance. Current monthly payment is £37.16 and interest is £41.08 so you can see why I want rid.

TIA

dazla

bertman wrote: »

We are on a fixed rate mortgae until March next year with Halifax, just checking their website and found that they are offering new fixed rates for 2 years at about 1% less than we are currently paying, they are also offering a deal to change within 3 months of the existing one finishing. We last changed to a fixed rate just as we started the DMP so I don't know how we will be treated this time, is it best to go blindly in and ask what deal we can get or do we start the conversation by saying we are on a DMP and what can they do - my guess is that they would not give us the best rate - has anyone got any experience in moving fixed rates around? We are and have always been 100% up to date on our mortgage.

Hi

I am on a dmp and also have a mortgage with Halifax. I recently switched deals with the halifax to a cheaper rate. I just phoned them up and asked if they could do anything for me and they said they could and I didn't mention my dmp and they never asked and I am now saving myself £60 a month

Sazzie23

dazla wrote: »

Hi

I am on a dmp and also have a mortgage with Halifax. I recently switched deals with the halifax to a cheaper rate. I just phoned them up and asked if they could do anything for me and they said they could and I didn't mention my dmp and they never asked and I am now saving myself £60 a month

Thanks Dazzla, I think not mentioning the DMP seems to be the way to go, well done for getting that saving.

Sammi -certainly can see why you want rid of that Halifax debt, ridiculous charges, possibly a bit late but presume you have complained etc?
Not sure about F&f but I did read someone suggested start at 20%, which is ....£480? Good luck, think there is an F&f thread somewhere....

Committed - well spotted, good job you got a copy of that credit file, not sure how you get it off, but I'd have thought calling them would be a good start, sure someone on here will have good advice.

Having a good ol panic myself about funding Christmas, pressies I am ok for but have committed socially to rather more than the budget extends to...thinks...what can I raise money with? Bit late to ask friends if they would pay towards dinner rather than buy me a pressie.
Hmmmm

Florida15

Sazzie23 wrote: »

Hi Florida

I think quite a few folk have done the Barclays basic with Barclays debt as they seem to be sticking to the agreement not to offset.
But if its worrying you, why not have a look round and see if there is another account you can have to transfer your wages into, anything to reduce the stress.....

Thanks, i would like to hear how people have got on if they have done this as i am having a major worry whether or not to try and open another account with bad credit rating now.

Stressed.com xx :eek:

CommitedToChange

Florida15 wrote: »

Thanks, i would like to hear how people have got on if they have done this as i am having a major worry whether or not to try and open another account with bad credit rating now.

Stressed.com xx :eek:

I have to admit I went and opened two accounts unrelated to my debts - co-op and NatWest as I was worried about the offsetting rule, especially if (as happened) I got a good job and had more money coming in.

I can't comment on if Barclay do behave - but it might not be the worse thing to see if you can get another account - just in case. It could just remain a back up / savings account.

DanielleNic87

Wel I haven't been on for a little while. It have now made 5 payments and most are behaving.

Had a bit of good news. Firstly Natwest are refunding me £350 for mis sold PPI, not a lot but it will nearly clear their overdraft.


Secondly.. My dad paid in some money into my Natwest account which is currently under arrangement. I thought they wouldn't let me get the money back and instead put it towards the o/d. But a quick visit into the bank and they have refunded the money. Got to say Natwest have been the best creditor to deal with so far.