DMP & Mutual Support Thread - Part 9

LMJ10

Yes I kind of wondered if they looked at where you have spent the money on the cards!

Ahh well I'm sure I'll find out very soon - I mean they were the ones who kept giving us cards with 10k limits!!! Lol!!

Might not help to see they are making people redundant tho!!!

Coinmachine

I am in the sam eboat as you - LMJ10 - strangely Barclaycard are the only ones I have not heard back from yet, not a letter, not a phonecall. I have emailed Stepchange to query this. As to Barclays redundancies, I may be wrong but I think the bank and barclaycard are technically separate companies.

LMJ10

Coinmachine wrote: »

I am in the sam eboat as you - LMJ10 - strangely Barclaycard are the only ones I have not heard back from yet, not a letter, not a phonecall. I have emailed Stepchange to query this. As to Barclays redundancies, I may be wrong but I think the bank and barclaycard are technically separate companies.

Oh right!! Well Barclaycard have just phoned me 1 of my cards I am now 8 days late - she said she will freeze account for 30 days until stepchange contact them!! Here's hoping they are this understand throughout our plans

Monkeyballs

Coinmachine wrote: »

Thanks MB but does this not risk your other creditors kicking up a fuss re not being treated fairly, enough though the sums are very small?

Hi Coinmachine, I spoke to SC before I made any payments and also got feedback from folk on here and as Sazzie mentions they won't notice and as a DMP is informal then so long as you pay what you agree then there shouldn't be any issues - I should add that SC were very diplomatic in their response by suggesting I should pay any extra into the DMP but again reiterating that it is an informal agreement...

The good news for my other creditors is that my debt is being repaid faster and when I am able to obtain F&F's then that portion of payment is divvied up among those still in the DMP.

LMJ10 wrote: »

Hi there - just about to go into my DMP with stepchange

Just waiting on my basic account to set up and then will be sending back all info to SC

I'm reading a lot about Barclaycard not stopping interest worrying a little as a big chunk of my debt is with Barclaycard!??

Anyone got any Barclaycard stories?

Hi LMJ,

I entered my DMP with over £2k of debt owing to Barclaycard - I say over £2k because they claimed to have not been informed about me entering into the DMP despite SC and myself contacting them (more on this below) - they didn't freeze interest but they did in the end agree to a big reduction and while I know it varies from person to person depending on the debt and amount being repaid each month interest was reduced by about 90%.

My only advice re. Barclaycard is make sure you send a recorded letter, call them, take names and record times and dates, etc and then call again to make sure that your account shows as being in a DMP.

Monkeyballs

Coinmachine wrote: »

I am in the sam eboat as you - LMJ10 - strangely Barclaycard are the only ones I have not heard back from yet, not a letter, not a phonecall. I have emailed Stepchange to query this. As to Barclays redundancies, I may be wrong but I think the bank and barclaycard are technically separate companies.

LMJ10 wrote: »

Oh right!! Well Barclaycard have just phoned me 1 of my cards I am now 8 days late - she said she will freeze account for 30 days until stepchange contact them!! Here's hoping they are this understand throughout our plans

Chase the blighters, that's my advice! Until you have a letter or someone on the phone telling you that your interest is reduced (or frozen preferably) then don't believe them LOL I didn't and racked up over £100 in additional interest and charges!

MB

nextyeartina

I would just like to say a massive thank you to all the lovely people on this thread. There's always someone to answer your questions, advise you and, most importantly, never judge you. Thank you & keep up the good work


Tina xxx

LMJ10

Interesting about F&F settlements offers and making extra payments my plan was to offer these when I earn commission at work - specially the lower amounts that I owe like under 1000.
But now I'm thinking if the creditors find out some May not be happy - wonder if it's better if the debt is sold into a DCA then instead of staying with the banks!???

Find_The_Real

LMJ10 wrote: »

Hi there - just about to go into my DMP with stepchange

Just waiting on my basic account to set up and then will be sending back all info to SC

I'm reading a lot about Barclaycard not stopping interest worrying a little as a big chunk of my debt is with Barclaycard!??

Anyone got any Barclaycard stories?

BC were the most helpful ones for me, stopped interest, changed the payment dates and didn't quibble when more unsecured debt was added in meaning less pennies for them. They were my 3rd biggest creditor as well.

However as others have said it doesn't happen with everyone, perhaps they thought I had enough cr*p to deal with or liked my accent, I don't know. Anyway the important thing is to keep on at them to freeze the interest if you haven't heard from them as they can do it.

Welcome to all the newbies btw, good luck with the start of your DMP's. Some great advice from my fellow posters as ever!

gettingbackontrack

Time_to_face_the_music wrote: »

Very inspiring post gettingbackontrack, thanks for sharing :T

I hope you stick around now you have come out of lurkdom, your experience and support would be much appreciated by many here.

TTFTM x

What a lovely thing to say. Thank you.

My experiences have been varied and I've had some ups and downs. I think I've done some silly things along the way.

One thing I can say is that things seemed very bleak for me with a gigantic debt. It's not been easy at times but I'm getting there and I'm even enjoying life on the way.

So many new posters here are at start of their DMP and are very uncertain of the way ahead. All I can say is - my DMP has been a very good thing. Not only are my finances shaping up at last but I think I'm a better person for learning to live on my income and pay back what I foolishly borrowed. Living on the never never is no way to live and I only wish I'd realised that years before I did.

And remember - the sooner you start on your DMP, the sooner you finish it!:)

gettingbackontrack

2spicy wrote: »

Happy New Year DMP's ... Sorry weve been quiet recently ... its been a rollercoaster over the last few months, and weve hit some un-expected financial challenges, but were though and steaming onto what we hope will be the home run to debt freedom, a new car and a well needed family holiday somewhere HOT !!

That's a great amount paid off so far. Brilliant.:)