DMP & Mutual Support Thread - Part 9

Woodypuddy

Hi,
Many thanks for your kind responses, they really do give me the courage to keep going although I know there will be some bad days ahead

I have successfully sorted another bank account today away from any of my creditors and am about to send my pack back to the debt counselling helpline which I understand they then refer to step change or payplan.

I am also about to send letters to all my creditors advising that I am going to be making token payments whilst getting DMP sorted - my question is do I pay them the amount that is calculated on my financial statement sheet (done via my money steps using my budget) that shows the percentage split or do I pay them something different like £5 or £10. Not really sure
Many thanks again in advance

Puzzcat

Woodypuddy wrote: »

Hi,
Many thanks for your kind responses, they really do give me the courage to keep going although I know there will be some bad days ahead

I have successfully sorted another bank account today away from any of my creditors and am about to send my pack back to the debt counselling helpline which I understand they then refer to step change or payplan.

I am also about to send letters to all my creditors advising that I am going to be making token payments whilst getting DMP sorted - my question is do I pay them the amount that is calculated on my financial statement sheet (done via my money steps using my budget) that shows the percentage split or do I pay them something different like £5 or £10. Not really sure
Many thanks again in advance

I paid all mine a £1 for 3 months. Hello and welcome by the way!!!

Growurown

Hi to all the newbies - you are in the right place!

Well on top of OH's speeding event last month (still don't know how much it is going to cost yet) our little doggy has developed a limp and now has to visit the vets. Thank goodness we kept the pet insurance!

Sazzie23

Woodypuddy wrote: »

Hi,
Many thanks for your kind responses, they really do give me the courage to keep going although I know there will be some bad days ahead

I have successfully sorted another bank account today away from any of my creditors and am about to send my pack back to the debt counselling helpline which I understand they then refer to step change or payplan.

I am also about to send letters to all my creditors advising that I am going to be making token payments whilst getting DMP sorted - my question is do I pay them the amount that is calculated on my financial statement sheet (done via my money steps using my budget) that shows the percentage split or do I pay them something different like £5 or £10. Not really sure
Many thanks again in advance

Hi woodypuddy

The more you pay, the quicker your debt reduces, however - I think most people getting to a DMP have been surviving on nothing for a few months as they have been trying to keep up with the bills and /or credit maxed.

On the grounds that it's a marathon and not a sprint I think the general recommendation is that unless you can really afford it, stick to a token repayment while the DMP is setup - my creditors got the token amount of 0£ - it gives you a little breathing space to make sure your budget is manageable too.

I didn't pay my token payment because I was so upset I couldn't bring myself to look at any of the paperwork. When I look back at those very dark days I realise how much I have come forward and thank goodness for the HBOS man who suggested I should contact Stepchange.

Hope this helps

Sazzie23

Growurown wrote: »

Hi to all the newbies - you are in the right place!

Well on top of OH's speeding event last month (still don't know how much it is going to cost yet) our little doggy has developed a limp and now has to visit the vets. Thank goodness we kept the pet insurance!

Hi GUO

Hope it's nothing serious and doggy gets better soon

Larac

Growurown wrote: »

Hi to all the newbies - you are in the right place!

Well on top of OH's speeding event last month (still don't know how much it is going to cost yet) our little doggy has developed a limp and now has to visit the vets. Thank goodness we kept the pet insurance!

Hope all is well with your dog. Mine sprained it and just required a few days rest. On the subject of pet insurance I found the SC allowance a bit low at 20 pound a month and was wondering where they get this figure from. Needless to say I had to put some money into another part of the budget plan to cover. I use Animed for any tablets and treatments as they do the branded products you get in pets at home and vets far cheaper. Order one day and arrives couple days later.

Coinmachine

I have heard back from 5 of my 9 creditors so far, all 5 have accepted the DMP and 3 have frozen interest. The other 2 dont state either way about interest. One of my creditors is Tesco and they have accepted for 6 months following which they will review. Is thiis anything to be concerned about or are they just protecting their position in the event I was to miss any of those payments - which I wont of course!

lizzy23

Just remember if you need meds from the vets its often cheaper to get a perscription and buy them on line, i have a dog who needs metacam daily, price from Vet £68 for 180ml bottle, plus the £24 consultation, cost for consultation and script £36 meds from animed direct 17.99, which works out at around 1/2 price

HRKL14

Hi,

I am very new to the world of MSE & have recently entered into a DMP with SC. Paperwork has been signed and sent back in. I am wondering what peoples experiences are with SC and what to expect from creditors in the next few weeks. I am in a complete mess at with it all at the moment expecting the worse to happen I suppose. Any feedback would be great.

Thank you

Puzzcat

HRKL14 wrote: »

Hi,

I am very new to the world of MSE & have recently entered into a DMP with SC. Paperwork has been signed and sent back in. I am wondering what peoples experiences are with SC and what to expect from creditors in the next few weeks. I am in a complete mess at with it all at the moment expecting the worse to happen I suppose. Any feedback would be great.

Thank you

Hi and welcome HRKL14,


I would suggest you make a cuppa and settle down to reading this thread. Loads of information on here from newbies setting up to oldies nearly at the end of there dmp journeys.


As for the behaviour of creditors well they don't seem to have the same rules for everyone. At first you will no doubt get phonecalls/letters/defaults etc. And this can be a little stressful until everything is in place. The best advice is not too worry, pop on here if you have concerns and someone will no doubt be able to reassure you. It all does get better just a little bumpy at the beginning..


Good Luck with your Journey.
Love Puzz. x