DMP & Mutual Support Thread - Part 9

Kate_fixing_it

joee wrote: »

Hello Kate,

I am glad to hear that your account will be set up by the end of the week! Your making progress!

I am sorry to hear that you are in so much pain, I can relate to this when I was setting up my DMP. Please take good care of yourself ok?

Lucy x

Thank you Lucy. 35 sleeps until the op! It'll be more pain initially but should fix my leg for good - or I'm just delusionally trusting what feels like the 500th doctor I've seen Still, 10 months so far to recover from a broken leg is starting to take it's toll.

The pain has become more manageable as the day has worn on so either the lovely people at the co-op being so understanding and non-judgemental relieved some tension or I've gotten used to it.

I'm so so tired now, just enough time to snuggle up and read a chapter of The BFG with the littlies and I'll be ready for bed myself! DH has come home with the news that he's working away from Wednesday to the weekend so that'll make the grocery budget go a bit further and I'm quite looking forward to having the bed to myself

Kate x

hopeful_at_last

hey all
sorry not been about for a bit, been really busy with work etc
welcome to all you newbies too who are starting your journey

Can someone tell me where the letter is requesting interest be stopped as I need to mail aqa as their interest is going up every month and its more than half of the 25 quid they get so im paying abput 11 quid a month off:(

thank you in adance x

Sazzie23

hopeful_at_last wrote: »

hey all
sorry not been about for a bit, been really busy with work etc
welcome to all you newbies too who are starting your journey

Can someone tell me where the letter is requesting interest be stopped as I need to mail aqa as their interest is going up every month and its more than half of the 25 quid they get so im paying abput 11 quid a month off:(

thank you in adance x

Hi Hopeful,


I can see why that would be frustrating. Nice to see you back.


I just checked back a few pages & Puzz posted that the letter or the link is on page 115? Hope this helps.


Sazzie

Sazzie23

Hi Flutterby


Sorry SC didn't come up with the goods, either the advisor you spoke to is new or they are getting more tough with the policy, but for flexibility anyway you are probably better off going it alone with NEDCAB guidance. Sounds like you are wanting to push the limits of budgeting to pay it off faster, cant see why creditors wouldn't go for this but who knows? I think SC like to make sure you have enough to live on & to cover yourself for some, if not all emergencies, not going to work for everyone I guess. Good luck with self managed, plenty of folk on here already doing it that way.

Hopelessly_Hopeful

Flutterby83 wrote: »

Yes, the very idea of a DMP came from using that tool, which is why I was so shocked when the guy I spoke to wouldn't even discuss it with me! He told me that the reference number from the website was irrelevant now as I've spoken to him and he is now my debt advisor so must go through him :undecided Thank you, I will see how that goes first as I'm normally useless with this type of stuff.

Hi


I'd give them another chance if you are not keen on going self managed at this stage. I found significant variation in terms of support and advice depending on who you spoke to and was given many contradictions. Nothing to loose?


HHx

catandy

hopeful_at_last wrote: »

hey all
sorry not been about for a bit, been really busy with work etc
welcome to all you newbies too who are starting your journey

Can someone tell me where the letter is requesting interest be stopped as I need to mail aqa as their interest is going up every month and its more than half of the 25 quid they get so im paying abput 11 quid a month off:(

thank you in adance x

I will pm you the email of the person in collections who finally took my case on board and got the interest stopped - the only helpful person I found in that organisation

Time_to_face_the_music

hopeful_at_last wrote: »

hey all
sorry not been about for a bit, been really busy with work etc
welcome to all you newbies too who are starting your journey

Can someone tell me where the letter is requesting interest be stopped as I need to mail aqa as their interest is going up every month and its more than half of the 25 quid they get so im paying abput 11 quid a month off:(

thank you in adance x

Try something like this, customising it for each creditor:

You

Date

Them

Dear Sir/Madam

Re: [Creditor name] account No: XXXXXXXXXXXXXXX

Thank you for your letter/statement concerning the above account. I am sorry that you feel unable to suspend interest/charges on the above account.

As you are aware, I/we am/are in a DMP with XXXXXXXX, reference number XXXXXXXX. The majority of my/our other creditors have agreed to the offer of payment and agreed to suspend any interest charges still accruing. They have accepted that to continue to charge interest would not assist us in my/our present financial difficulties, and can only serve to increase my/our total debt.

I/we have already paid considerable sums in interest to my/our account. If interest charges continue, the monthly instalments I/we am/are paying will not even cover that interest. Also, the cooperation of my/our other creditors who have agreed to freeze interest already would be put at risk.

I am aware that XXXXXXX subscribes to the Lending Code which states that lenders will consider reducing or suspending interest and charges if these would cause the debt to increase or lead to the repayment term becoming too extended. I would therefore be grateful if you would reconsider your decision not to freeze the interest. This would mean that the monthly payments I/we make would actually reduce the balance outstanding to your company.

Please consider this letter as a complaint about the interest charges you are continuing to apply to my account. I would like to see these stopped immediately and previous interest charges refunded.

If you are unable to help me with this issue, I will have no alternative but to take this case to the Financial Ombudsman Service.

I look forward to hearing from you as soon as possible.

Yours faithfully

You

Woodypuddy

Hi all,

Just thought I would post a quick update - my first DMP payment was taken on 1st March by Step Change, 5 of my creditors (totalling 54k) have all accepted the DMP offer and have frozen interest which is a huge sense of relief. Not heard anything from Debenhams at all (despite 3 letters from me and one from Step Change) so I will just have to wait and see. They luckily represent my smallest debt at 2k.

I received a letter from Tesco yesterday asking that I contact them urgently which freaked me a bit but I rang them and spoke to a very nice guy. I explained about the DMP and that I had received a confirmation letter from Tesco. He advised that the system hadn't been set up correctly so sorted it out while I was on the phone. He also changed my payment due date to fall in line with the Step Change payment. So I spent yesterday checking all my other due dates (I had previously written to them explaining payment wouldn't be with them until after the 25th) and contacted Barclays who have also amended the date on both my cards.

Started to receive lots of arrears notices but I understand that I can ignore these as already have confirmation DMP agreed.

So, here I go, 1st month, 14.5 years to go........
X

Julie67

Morning all,

I've not posted for a while but often read. We have been on our DMP for almost a year. Started off with a minimum amount but managed to double the payment at the 6mnth review and everything is going ok.
Anyway I have a question and ttftm suggested hopelessy hopeful that you might be able to answer it as you have experience in this area.
We have an interest only mortgage with 18 yrs left to run from an initial term of 25yrs. We obviously have a poor credit record with the DMP but would like to switch to a repayment mortgage either with our current company or a new provider. We don't have any mortgage arrears although had missed a couple of payments before the DMP which have now been paid. My husband is self employed and doesn't earn loads and I'm not working due to ill health. I've just received mobility benefits for the next two years when they will be reviewed.
These have increased our income and mean that we could pay more on the mortgage or save the money. What would you do. I know selling is an option and with around £50000 equity we could clear the DMP and move into rented. However I would really like to stay in this house. I'm worried if we move we will probably never be in a position to buy again. Sorry for the long essay but wanted you to have the full picture. What would you do? I was also wondering whether endowments still exist? And is it too late for that. Just want to find a way of paying the mortgage so that the house is ours at the end of the term. Thanks in advance x

LMJ10

Hi just a quick question has anyone dealt or dealing with Halifax!?

We have 2 CC with them 1 in my name and the other in my husbands

SC has contacted my creditors and today I got a letter from Halifax saying they had rejected the plan payment offer on my husbands card
They have however accepted the plan payment on my card so I'm a bit baffled to why they would accept and then reject ???

Also SC. Contacted my creditors last week but the majority say they have not heard from them does it take a while?