DMP & Mutual Support Thread - Part 9

Growurown

digley wrote: »

Well done ! Halifax are the only creditor still charging me interest. They have reduced it by a whole 1%. What did you base your grounds for complaint on ?

By the fact that in spite of being on the DMP for over two years and paying around £100 a month, the debt had only reduced by about £400. Halifax want a statement of affairs every six months, even though they know our circumstances. If this is late then they consider the agreement broken and load up interest and charges. So we sent the FOS copies of the Halifax statements from June 2011 to present day and told them how much we had paid towards the debt in that time. I wasn't convinced we would be successful as they have been our worse creditor to deal with. So it was quite a surprise when they called on Friday. A nice surprise for a change:)

Woodypuddy

Ellieseleven wrote: »

Just catching up with this thread... Welcome to all the newbie's and to WoodyPuddy, we were in a similar position to you when we started out on our DMP - we were paying approx £300 per month instead of the £1300 that we had paid previously and our debt free date was 11 years away! Over the last few years we have managed to increase our payments and cut our DFD by over 4 years so far (and looking to reduce this even further). MBNA were also one of our creditors and they accepted our offer and defaulted us early on (which is a good thing).

Thanks for the reply Ellieseleven and all the other support messages. I feel it's bit like the calm before the storm at the moment as for the first time I have just defaulted on everything with token payments (never defaulted before hence the huge debt!) Sent all the letters to creditors and my details back to National Debt Helpline to process the DMP (either SC or payplan). Although I won't settle until everything is actually sorted out I do feel so much better now. Trying to carry on whilst keeping it hidden from my OH has been a huge burden which now feels lifted and I can actually talk about it. I actually had a good nights sleep the other night!

So I guess I just wanted to say thank you to the support on this forum - it really does make a difference and all I would say to others that are maybe watching and wondering is to take that next step and talk to an advisor, I am sure you will be very glad you did.

Ellieseleven

I know exactly how you feel WoodyPuddy, we had never missed a payment to any of our creditors and I felt so dis-loyal but I realise now that any loyalty that I had was very mis-placed!

We sent token payments of £1 to all our creditors and I can remember vividly being so frightened and sick about what we were about to do but 3 1/2 years on, a DMP was the best thing that we could have done in our situation. We can't have credit and our credit file is trashed but we don't want credit now and we can finally start to think about a debt-free future.

There are times when things are tough (January being one of them for us) but on the whole I feel as though I have turned my life around. We have a way to go yet but I set myself milestones along the way and this helps to keep me motivated and on track and Those 3+ years have passed by so quickly.

Take care
Ellie xx

Time_to_face_the_music

Ellieseleven wrote: »

I must say that I am so glad to see the back of January, we managed to scrape through after all the calamities that have befallen us recently! It was just one bad thing after another but perhaps we have now turned a corner:o OH has a job interview and although I am trying very hard to remain calm and not get too excited, this would be a major step for us as his business has suffered so much in recent years.

Great news about OH's interview Ellie, fingers crossed for him.


TTFTM x

Mojo13

Hi All,

Hoping someone will have some knowledge of these. I plucked up courage and returned a call from one of my creditors on Friday. I am only three months into the DMP and it's all a bit scary!!!

They were not to bad in fairness, just wanted to tell me the debt had moved to the collections agency and they needed a new statement of affairs. Whilst on the line the guy mentioned that I would be eligible for a partial settlement and he felt others would offer this as well.

Question is are these okay what percentage is it likely to be and do you need to partial settled with all the creditors in one go, if that makes sense!

THanks

Mo

Growurown

Woodypuddy wrote: »

I feel it's bit like the calm before the storm at the moment as for the first time I have just defaulted on everything with token payments (never defaulted before hence the huge debt!)

Chin up Woodypuddy (love that name!) It will all settle down in a few months and then you will be wondering why you worried so much!

Ellieseleven wrote: »

I must say that I am so glad to see the back of January, we managed to scrape through after all the calamities that have befallen us recently! It was just one bad thing after another but perhaps we have now turned a corner:o OH has a job interview and although I am trying very hard to remain calm and not get too excited.

Keeping everything crossed for you Ellie. Hope OH is successful!

Puzzcat

Just wanted to share my little ceremony with you..


6 months to the day since I last used a cc....







4th dmp payment gone to SC..stil love my dmp...

Florida15

well done puzz, we are two months into our DMP and was loving it until today

livingindreamland

Congrats Puzzcat, we're just starting out on a DMP, first payment goes on the 10th. I've read your diary - it's helped me no end. I've had a few panic moments trying to get this set up, the last one was a default notice from Barclays - they do try to make them look scary!!! I am really looking forwards to getting a few months in, and then maybe I can start to breath again :-)

Puzzcat

Florida15 wrote: »

well done puzz, we are two months into our DMP and was loving it until today

why what's happened today?