DMP & Mutual Support Thread - Part 9

Coinmachine

Further to my last update at post 3681, my new aco!!!! with co-op is up and running, took one week precisely. Having sent off my forms to stepchange on Monday I heard back from them yesterday they have written out to those creditors that they could do, and everything is set up to start from March.

Had a letter back from one of my creditors yesterday, I hadnt realised that they are creditors for two of my creidt cards, so thats one less creditor to deal with which must be no bad thing?

Letter states that they are not able to place a hold on my accounts and thst if they fall into arrears I may receive defaults, interest, arrears letters and calls until they have agreed repayment plans with me or my appointed reps. It goes on to state that if I am delaing with a thrird party these are the details I should give them - account numbers etc.

That all sounds normal to me and in line with what happens, sounds as if they should be on board and play ball with the DMP?

ianmak

Hey all, hope you are doing well. Sorry have been neglecting people on here.


Well as of yesterday, I am technically debt free...


It's been 5 years of hard slog, sale of a flat, and a F&F IVA. And I'm left with nothing but a roof over my head and the love of a beautiful woman! Life is harder now than it ever was (more mouths to feed), plus I now need to pay for a wedding!


But I'm debt free, that's the important thing.


So, where's the best place to get a credit card? I'm joking!!!

Growurown

Time_to_face_the_music wrote: »

So just a couple of weeks short of our 2 year DFW/DMP anniversary, we now owe £34,142.84 and have paid off £48,201.16 or 58.54% of our debt

:jBrilliant news TTFTM. Are you still grinning?:rotfl:

ianmak wrote: »

Well as of yesterday, I am technically debt free...

More good news, well done Ian. Congrats on the wedding too!

Monkeyballs

Coinmachine wrote: »

Further to my last update at post 3681, my new aco!!!! with co-op is up and running, took one week precisely. Having sent off my forms to stepchange on Monday I heard back from them yesterday they have written out to those creditors that they could do, and everything is set up to start from March.

Had a letter back from one of my creditors yesterday, I hadnt realised that they are creditors for two of my creidt cards, so thats one less creditor to deal with which must be no bad thing?

Letter states that they are not able to place a hold on my accounts and thst if they fall into arrears I may receive defaults, interest, arrears letters and calls until they have agreed repayment plans with me or my appointed reps. It goes on to state that if I am delaing with a thrird party these are the details I should give them - account numbers etc.

That all sounds normal to me and in line with what happens, sounds as if they should be on board and play ball with the DMP?

Hi Coinmachine,

That's good news about your Coop account

The letter sounds about right, I had the same thing with mine - who is the creditor? Are you able to make a payment to them in the meantime, what's your plan?

MB

Top-ranking_Bug

Good luck to all those starting out on their DMP journey! It is hard at the start, but soon becomes a way of life, and without the stressful phone calls, nasty letters, and sleepless nights!!

I started with CCCS (Now Stepchange) back in 2007 with £33k of debt and an original debt-free date of 2017!! Whenever I got a salary increase or if I received a cash birthday/Christmas present, I increased the payment amount, without waiting for the annual review. This reduced the debt-free date drastically each time and in June last year (3 years earlier than the original date), I became debt-free!

I cannot thank SC enough for the peace of mind they gave me, and I would urge anyone trying to decide whether to do a DMP to stop delaying and DO IT!!!

Every day that you put it off is another day you live in dread of the phone ringing or letters dropping through the door.

I recommended a DMP to two of my colleagues who were in severe financial difficulties and they both agree that the huge sense of relief of setting up the DMP was incredible! They both have their lives back on track now, and are well on their way to being debt-free.

Time_to_face_the_music

Coinmachine wrote: »

Further to my last update at post 3681, my new aco!!!! with co-op is up and running, took one week precisely. Having sent off my forms to stepchange on Monday I heard back from them yesterday they have written out to those creditors that they could do, and everything is set up to start from March.

Had a letter back from one of my creditors yesterday, I hadnt realised that they are creditors for two of my creidt cards, so thats one less creditor to deal with which must be no bad thing?

Letter states that they are not able to place a hold on my accounts and thst if they fall into arrears I may receive defaults, interest, arrears letters and calls until they have agreed repayment plans with me or my appointed reps. It goes on to state that if I am delaing with a thrird party these are the details I should give them - account numbers etc.

That all sounds normal to me and in line with what happens, sounds as if they should be on board and play ball with the DMP?

They should be willing to put a hold on the accounts so try a letter something like this:

You

Them

Date

Dear Sir/Madam

Re: Account/Reference Number XXXXXXXXXXXX

We are writing to inform you that we are seeking advice and assistance regarding our current financial
difficulties. We are commencing a debt management plan with Stepchange and our reference number is XXXXXXX

To this end, we would appreciate if you could hold any action on the above account for a period of at least 28 days. Also, during this period, could you please freeze interest and/or any other charges accruing on the above account.

Until you receive the first payment from Stepchange, we will offer you a token payment of £x each month. We hope this assures you that we are committed to paying our debt.

We request that all communication regarding this debt is in writing.

We look forward to hearing from you as soon as possible.

Yours faithfully

Time_to_face_the_music

ianmak wrote: »

Hey all, hope you are doing well. Sorry have been neglecting people on here.


Well as of yesterday, I am technically debt free...


It's been 5 years of hard slog, sale of a flat, and a F&F IVA. And I'm left with nothing but a roof over my head and the love of a beautiful woman! Life is harder now than it ever was (more mouths to feed), plus I now need to pay for a wedding!


But I'm debt free, that's the important thing.


So, where's the best place to get a credit card? I'm joking!!!

Top-ranking_Bug wrote: »

Good luck to all those starting out on their DMP journey! It is hard at the start, but soon becomes a way of life, and without the stressful phone calls, nasty letters, and sleepless nights!!

I started with CCCS (Now Stepchange) back in 2007 with £33k of debt and an original debt-free date of 2017!! Whenever I got a salary increase or if I received a cash birthday/Christmas present, I increased the payment amount, without waiting for the annual review. This reduced the debt-free date drastically each time and in June last year (3 years earlier than the original date), I became debt-free!

I cannot thank SC enough for the peace of mind they gave me, and I would urge anyone trying to decide whether to do a DMP to stop delaying and DO IT!!!

Every day that you put it off is another day you live in dread of the phone ringing or letters dropping through the door.

I recommended a DMP to two of my colleagues who were in severe financial difficulties and they both agree that the huge sense of relief of setting up the DMP was incredible! They both have their lives back on track now, and are well on their way to being debt-free.

Congratulations to both of you, I love inspiring debt free stories :T

Hope you have both added your names to the debt free roll of honour :j

ianmak

Time_to_face_the_music wrote: »

Congratulations to both of you, I love inspiring debt free stories :T

Hope you have both added your names to the debt free roll of honour :j

I'm gonna wait till I have the certificate in my hands before I do that, only had email confirmation so far!

Ellieseleven

ianmak wrote: »

Hey all, hope you are doing well. Sorry have been neglecting people on here.


Well as of yesterday, I am technically debt free...

Fantastic news Ianmak, I'm so pleased for you... one by one we are all reaching that glorious DFD:j

Ellie xx

Puzzcat

Little update from me..


8 of my 9 debts are on interest free now, only creation are charging a reduced amount but still £30ish a month which is a lot when i'm only paying them £36... so I wrote and complained and just within the 8 weeks they have written back to inform me as I had predicted that they are staying with what they have arranged.. so next step is a letter to FOS. Luckily they are one of my smaller debts I would be a lot more concerned if they weren't!


I can't moan as out of my original 60K debt at the moment 55k is on interest free..


Still loving my dmp... and lovely to hear peoples success stories of reaching the end and becoming debtfree.