DMP & Mutual Support Thread - Part 9

RebelRed

I woke up this morning to an email from Next. I was so worried what it might contain as my monthly payment was due around now and I had cancelled my dd. I was pleasantly surprised when it was from the payment team thanking me for my token payment and it was much appreciated


(I've posted a few times on here but have changed my name because idiot me used a name my family and friends know and I'm trying to keep it quiet for now)

bertman

Came home to a lovely letter from HMRC. Basically we owe £1700 tax from when we had our business. They last got in touch 18 months ago about this and we offered to pay £40 a month, we explained that we were on a DMP and they said they would get back to us - which is what they did but 18 months later!!

I rang them - isn't it amazing how if you owe them money they answer straight away but if you have a query you are put in a queue for 10 minutes. Anyway after explaining again and offering £40 again they said they will be in touch. I have a feeling this time it won't be 18 months away! Trouble is they have been adding interest at £0.12 per day onto this so the debt is going up as well.....

I thought everything was going a bit too smoothly.......

raspberry22

Hello everyone,

I've been rather quiet, but plugging away. Had yet more drama with the new bank account and getting the switches from out old ones done. Think all money is now being paid into it though, which is a help. Of course, now all our figures are different and I'm having to update the Stepchange figures, again before submitting it all.

I haven't had any more visits after that one from Barclaycard, so no idea what's happening there. I had a letter this week saying MBNA are terminating my credit agreement and are passing the debt on, so will I need to wait and see who to for Stepchange? I'll check the letter again, but can't remember it naming a DCA.

I feel a bit like I'm stuck in treacle with all the problems with the new bank account etc, but hopefully things will get moving now.

RebelRed - that's great about Next! nice to hear a positive response from a creditor.

Growurown and Monkeyballs - that gave me a much needed laugh!

Have a good weekend everyone.

Growurown

raspberry22 wrote: »

I feel a bit like I'm stuck in treacle with all the problems with the new bank account etc, but hopefully things will get moving now.

Hang in there R22 things will get better.

raspberry22 wrote: »

Growurown and Monkeyballs - that gave me a much needed laugh!

Have a good weekend everyone.

Glad we cheered you up! Have a great weekend too.

blisteringblue

Hi name is BB and I'm in Debt ...... Isn't that how these meetings start?

Head out of the sand and just completed the activation pack for Stepchange.

Seems painless so far, budget is fair, wife is onboard, sun is shining.

I'm ready for a few awkward phone calls while it kicks in I'm just so pleased to see an end to this endless spiral.

I was gobsmacked Stepchange think it will be under 5 years. That is less than my last loan that ended up going on more credit cards.

Monkeyballs

blisteringblue wrote: »

Hi name is BB and I'm in Debt ...... Isn't that how these meetings start?

Head out of the sand and just completed the activation pack for Stepchange.

Seems painless so far, budget is fair, wife is onboard, sun is shining.

I'm ready for a few awkward phone calls while it kicks in I'm just so pleased to see an end to this endless spiral.

I was gobsmacked Stepchange think it will be under 5 years. That is less than my last loan that ended up going on more credit cards.

Hi BB,

Welcome onboard!

You're right, there will be a few awkward phone calls and a handful of letters but time flies! Before you know it you'll be dishing out pearls of wisdom to other newbies

Feel free to post as often as you like, even if it's what feels like a daft question as we love to help out here on this forum

MB

RebelRed

R22: I had so much trouble when opening our new bank account. It totally ruined the plans and we had to halt things for a week or two but we're finally sorted and on the right track. I'm sure you will be too

Received a letter from vanquis this morning saying they had agreed to the payment plan! We're getting there, slowly but surely

dawnofwar

RebelRed wrote: »

My husband has just received his barclaycard statement and default charges letter and there is a "contact us by post address" it is:

Barclays Bank PLC
PO BOX 9131
51 Saffron Road
Leicester
LE18 9DE

The address I have in Payplan is the following:

External Relationship Team
Barclaycard House
PO Box 28
Kirkby
L32 8XN

Do not know if it owld be worth giving that a go, Barclaycard were the first to except our DMP so i presume the paperwork went through to that address fine.

HTH

Im very grateful to all the help you all have given even if im just lurking and reading. We have been on our DMP for 5 months now and our next payment in March will bring us under £40k, we are so excited!

Monkeyballs

Hi all,

I've started another thread just on the off chance someone who doesn't stalk this thread has any thoughts it reads;

I'm not in this position yet but has anyone any experience of reducing a monthly DMP repayment to their provider to allow them to repay a full balance of one of their creditors?

It's hard to explain so here's an example of what I mean;

1. I normally pay £500 pcm to Step Change.

2. One of my debts is to Wonga which has a balance of £500(ish)and is being repaid at a rate of £20(ish) pcm.

3. Wonga accepts a F&F offer of £250.

4. I then pay SC a reduced payment of £480 if I use the missing £20 to add to the F&F payment to Wonga.

5. I then zero out the Wonga balance straight away to stop any further payment being made from the £480 and resume payments of £500 the following month.

In my head it sounds like it should be ok but wondered if anyone had done this before? I'm not in a position to do this just yet but may be in a few months time

Thanks all!

MB

Growurown

Monkeyballs wrote: »

Hi all,

I've started another thread just on the off chance someone who doesn't stalk this thread has any thoughts it reads;

I'm not in this position yet but has anyone any experience of reducing a monthly DMP repayment to their provider to allow them to repay a full balance of one of their creditors?

It's hard to explain so here's an example of what I mean;

1. I normally pay £500 pcm to Step Change.

2. One of my debts is to Wonga which has a balance of £500(ish)and is being repaid at a rate of £20(ish) pcm.

3. Wonga accepts a F&F offer of £250.

4. I then pay SC a reduced payment of £480 if I use the missing £20 to add to the F&F payment to Wonga.

5. I then zero out the Wonga balance straight away to stop any further payment being made from the £480 and resume payments of £500 the following month.

In my head it sounds like it should be ok but wondered if anyone had done this before? I'm not in a position to do this just yet but may be in a few months time

Thanks all!

MB

Sounds like a plan MB and you aren't reducing your payment by much. Not sure it is within the rules of SC though, and reducing your payment upsets the creditors, which means doing a little work to get them back on board.