DMP & Mutual Support Thread - Part 9

Monkeyballs

cookie79 wrote: »

I'm a long time lurker on the MSE boards checking out bargains and grabbits but I haven't spent much time on the debt-free posts becauseI've had my head buried in the sand

Welcome!

TTFTM has said it all really, cancel the CPA's with your PDL's - it's best to send snail mail requests using recorded delivery to be sure but you can contact them using emails or by calling them but keep notes on who you spoke to with dates and times just in case

If it helps, this is taken from the Wonga site and I know from experience that they'll reply quickly (inside of office hours) to your email

How do I cancel continuous payment authority/CPA?
We use continuous payment authority (CPA) to collect repayment on your promise date.

You can cancel your CPA anytime (including before your promise date) by writing “Cancel Continuous Payment Authority” in an email to paymentinstructions@wonga.com, or by contacting your bank directly. You may also cancel over the phone on 0207 138 8330. Remember, if you do this you must arrange for another way to pay us.

To avoid a missed payment fee, you need to pay using an alternative method before 5pm on your due date. For details about other ways to pay us, please contact 0207 138 8330.

Good luck, it'll all be ok, post as much as you like and then a bit more

MB

cookie79_2

Thanks TTFTM!
No, I havent cancelled the CPAs with the payday lenders yet. I will add that to the things to do tomorrow. Will a phone call suffice?
No debts with Natwest and still have SOs and DDs for rent, council tax, car and home insurance and phone/broadband with them so would prefer not to switch accounts if i can help it.
Stepchange have given me a reference number so i will phone round with that tomorrow. Would you suggest making a small payment to them all tomorrow? There are 8 creditors, not including the payday lenders with debts ranging from £98 to £2574 - 6 catalogues and 2 credit cards (i am so ashamed by this!). I could afford to pay each £5-10 to keep them off my back until the plan is set up.
Thanks again!

cookie79_2

Thanks MB. Our threads crossed. I'll call the payday lenders tomorrow and follow up with letter by recorded delivery.
Feeling more positive already! I might just sleep tonight.

Growurown

cookie79 wrote: »

I'm a long time lurker on the MSE boards checking out bargains and grabbits but I haven't spent much time on the debt-free posts becauseI've had my head buried in the sand

This is known as ostrich syndrome, a common complaint suffered by people in the past until they had their light bulb moment:rotfl::rotfl:

cookie79 wrote: »

Would you suggest making a small payment to them all tomorrow? There are 8 creditors, not including the payday lenders with debts ranging from £98 to £2574 - 6 catalogues and 2 credit cards (i am so ashamed by this!). I could afford to pay each £5-10 to keep them off my back until the plan is set up.
Thanks again!

You shouldn't miss a payment even if all you can afford is a £1. Some people pay a token pound for several months until they can get on a stable footing. If you have already paid the bill for this month then pay a token payment next month. No point in giving them any money early! If payment is due then pay them a token amount, whatever you feel you can afford.

Hope you sleep better tonight. It will take some sorting but it will be OK.

Sazzie23

Hi cookie,

Any chance you can get all your money out of the account before the CPA goes out? This would preserve your rent/mortgage/bills money.

Well done for making a start and welcome to the DMP family.

3 years will pass really quickly.

Monkeyballs

Morning all

Great news! NOT

I've just been told that the quarterly bonuses which I have been getting for the last 7 years are now going to be changed to an annual one instead and will only be payable at the discretion of the exec's... So they are no longer based on individual performance...

Or, in other words it's gone! In the past my company has made profits of close to half a billion £'s in profit (profit, not just turnover) and still didn't award any sort of annual increase stating that share holders come first and who knows if we'll make profit next year!!! Obviously the next year ended and they reported a slightly smaller profit (I.e maybe a few £million) which meant another freeze although the exec's all got bonuses in shares equal to double their salary and a token bonus of £ridiculous!!! The lowest bonus paid that year was about £300k - such hardship they must have suffered!!!

Excellent! Now I need to sit down and figure out how this is going to impact me because an element of my DMP payment is based on my bonus which I have been spreading across three months... Grrr...

Happy new year! I'm looking forward to working harder for less and maybe finding a new job

MB

Growurown

Monkeyballs wrote: »

Morning all

Great news! NOT

I've just been told that the quarterly bonuses which I have been getting for the last 7 years are now going to be changed to an annual one instead and will only be payable at the discretion of the exec's... So they are no longer based on individual performance...

Or, in other words it's gone! In the past my company has made profits of close to half a billion £'s in profit (profit, not just turnover) and still didn't award any sort of annual increase stating that share holders come first and who knows if we'll make profit next year!!! Obviously the next year ended and they reported a slightly smaller profit (I.e maybe a few £million) which meant another freeze although the exec's all got bonuses in shares equal to double their salary and a token bonus of £ridiculous!!! The lowest bonus paid that year was about £300k - such hardship they must have suffered!!!

Excellent! Now I need to sit down and figure out how this is going to impact me because an element of my DMP payment is based on my bonus which I have been spreading across three months... Grrr...

Happy new year! I'm looking forward to working harder for less and maybe finding a new job

MB

Oooh that smarts. Funny how the rich always get richer isn't it?

Monkeyballs

Growurown wrote: »

Oooh that smarts. Funny how the rich always get richer isn't it?

Welll... To be fair they do work hard don't they? Why only recently four of them were in Monaco at some awards bash and not that long ago they all (yes ALL) went to a week long "work conference" at a luxury spa in the South of France to wine and dine some of our biggest investors despite them showing no sign of wishing to pull out any investment they have with us...

It's a hard life give me daily grind, debts and beans on toast any day of the week!

MB

Monkeyballs

Hi,

I got a reply today from Barclaycard re. stopping interest being applied to my account...

Polite but firm NO - %age is based on the repayment being made against the debt, it's their policy... All in line with legislation... Cannot comment on other creditors agreements with you...

It's what I expected, in the meantime I'm paying small overpayments, in my head it's just one more reason to smile when I have repaid them and call to close my account :beer:

MB

cookie79_2

Sazzie23 wrote: »

Hi cookie,

Any chance you can get all your money out of the account before the CPA goes out? This would preserve your rent/mortgage/bills money.

Well done for making a start and welcome to the DMP family.

3 years will pass really quickly.

Thanks for this. No, there's no chance of getting the money out because the payments are due on my paydate. So money in and money out. Well hopefully not. I've spent the last couple of hours on the phone contacting creditors and most have been really helpful. The rep at Pounds to Pocket on the other hand was not!! Initially insisting the payment would have to go through until they had an agreement with SC but I stood my ground and hopefully it has been cancelled. SC are still working through my paperwork but all is looking brighter for now. Except i've managed to lose a filling today and am not looking forward to (paying) the bloomin' dentist!
I have taken notes of the times i spoke with everyone and the names of the reps i spoke with and plan to follow up with letters. Not typed on my home PC though because, as you can see by my shoddy typing, my keyboard sticks.
Can I ask whether the payment SC suggest at the beginning is likely to change once they've reviewed my budget? I filled this in on line and made some amendments where they suggested (suh as cutting down pocket money and reducing the Sky package which i was intending on doing anyway). I don't smoke and don't really drink (maybe a bottle of wine at the weekend if I find one I like on offer) and we hardly live in luxury.
Thanks for everyone who has taken the time to read and comments. Thanks for the support! :T