DMP & Mutual Support Thread - Part 9

solong

I first contacted Stepchange in February and plan was agreed, however because I needed to get new bank account they held back on contacting a few of the creditors (we had 3 different bank accounts with overdrafts and had credit cards with them). The first payment to stepchange is not due out until 01/04/14 but from what I understand payment won't be sent to creditors until end of April.


I am getting letters reminding me that I need to make payments and default letters (even though some have agreed to dmp).


I have seen people mention token payments. Can anyone tell me where I can find a token payment template please.


Thank you - hope this makes sense..I am a little confused and anxious at the moment.

Puzzcat

solong wrote: »

I first contacted Stepchange in February and plan was agreed, however because I needed to get new bank account they held back on contacting a few of the creditors (we had 3 different bank accounts with overdrafts and had credit cards with them). The first payment to stepchange is not due out until 01/04/14 but from what I understand payment won't be sent to creditors until end of April.


I am getting letters reminding me that I need to make payments and default letters (even though some have agreed to dmp).


I have seen people mention token payments. Can anyone tell me where I can find a token payment template please.


Thank you - hope this makes sense..I am a little confused and anxious at the moment.

Welcome solong..


This is the first letter I sent to my creditors, I expect the template I took most/all of it from is on here somewhere but i'm unsure of the page number. You may need to adapt it.
First Letter I sent to all..


Your address



Account details


Date


Dear Sir/Madam


I am writing to inform you that I am currently seeking advice and assistance regarding my current financial difficulties.

I am working with StepChange to set up a Debt Management Plan (DMP) – my reference number is *******. They will send you an offer of payment along with a copy of my budget and list of creditors.


I am unable to meet my normal monthly payments, would you please accept a token payment of £1 per month until StepChange contact you with my DMP details. I would appreciate if you could hold any action on the above account until this time.


I would ask that you please consider stopping or reducing interest and any other charges on my account to help me during my financial difficulties and to avoid increasing my debts any further.



I would please note all future communication should be in writing only.


I thank you in anticipation of your assistance and co-operation whilst I am going through this difficult time, and assure you thatI am doing everything I can to resolve my current financial situation in a responsible and sustainable manner.

Yours faithfully

Puzzcat

millygdy wrote: »

Hi ive got A DMP in place all creditors have agreed apart from 24studio I am receiving letters from a debt collectors saying if i dont pay £98 immediatly and then £98 a month until the £700 is settled then they are going to send a doorstep collector. Is this likely to happen? My husband doesnt know about my debts as they are mine not his id rather not have someone turning up on my doorstep!! Should i just try to find £98 and pay it?

Thanks for your advice

Karen

Hi Karen,
Are you self managing your dmp or using stepchange or similar? If the latter I would give them a call and ask. Sorry I don't have the answer for you.
Puzz

Woodypuddy

Hi,

I have been quiet for a few weeks but have read all the posts daily. I just thought I would update you on my start up with Step Change in case it helps others.

I have a credit card with Tesco and advised them in January of my problems - they added interest to my February statement which was fine as nothing sorted at that point. I notified them of my DMP with Step Change and they confirmed agreement to the plan starting in March. They also advised they would be issuing default and termination letters which again was fine and expected. My first payment with SC WAS 1st March so Tesco did not receive it until the 25th. I received my March statement dated 23rd March which again had interest charged.

I decided to ring them and confirm that my payment date had been changed to the end of the month and ask about the interest. They confirmed that the plan was agreed and they would be ceasing interest from today (7 days after the termination letter) therefore interest charges for the last 2 months were correct in their process. I asked if they would consider reimbursing my interest for the last 2 months. The lady went away to speak to her manager and she came back and said although they didn't have to she would reimburse me 1 months as a gesture!! Result I think.

To cut a long story short I just wanted to say make sure you keep an eye on your statements and it is always worth phoning and making a polite request.
X

Pickle29

I just wanted to echo what woody said - To cut a long story short I just wanted to say make sure you keep an eye on your statements and it is always worth phoning and making a polite request

In the beginning of my DMP, the phone calls from my creditors were awful, left me in tears every time and I refused to speak to them on the phone because they were so aggressive, but a few months in, I have felt brave enough to ring them (GE) and Even if you don't always get the response you want, they are no longer aggressive! I am always keeping an eye on interest, statements, I check my bank daily (it's an obsession) and things have improved from where we were 5 months ago.

nextyeartina

Started 2014 with lots of motivation & determination. Was doing well until this month. I always find this time of year very hard. It should have been our daughter's 16th birthday on the 25th March. She sadly passed away at 5 days old . Our other daughter was rushed into hospital with diabetes on 14th March. Not only were we all in shock but we had so much to learn before we could bring our daughter home. I know people with diabetes but never actually knew what it was. The budget's gone out of the window this month & the little emergency savings we had has now gone. I've not been able to do any overtime this month & we've got our son's 21st next month. Today is the first positive day I've had for what feels like an age. Our daughter's home . She's happy & coping amazingly well. We're so very proud of her. I'm now ready to continue my debt busting journey. Thanks for taking the time to listen


Tina xxx

Mrs_Arcanum

Pickle29 wrote: »

I just wanted to echo what woody said - To cut a long story short I just wanted to say make sure you keep an eye on your statements and it is always worth phoning and making a polite request

In the beginning of my DMP, the phone calls from my creditors were awful, left me in tears every time and I refused to speak to them on the phone because they were so aggressive, but a few months in, I have felt brave enough to ring them (GE) and Even if you don't always get the response you want, they are no longer aggressive! I am always keeping an eye on interest, statements, I check my bank daily (it's an obsession) and things have improved from where we were 5 months ago.

Once DMPs settle down it is worth checking a year or 3 later to see if the amounts tally from the DMP. Had a lovely surprise today to find one CC debt was over £800 less than on my Step Change statement. All the rest are spot on.

livingindreamland

On a much lighter note, Sainsbury's bank who we had a credit card with, which is now in our DMP have sent us 4 weeks worth of treble nectar point vouchers for being loyal customers - other than giving us a good laugh, just shows the right hand doesn't know what the left hand is doing ;-)

antonic

nextyeartina wrote: »

Started 2014 with lots of motivation & determination. Was doing well until this month. I always find this time of year very hard. It should have been our daughter's 16th birthday on the 25th March. She sadly passed away at 5 days old . Our other daughter was rushed into hospital with diabetes on 14th March. Not only were we all in shock but we had so much to learn before we could bring our daughter home. I know people with diabetes but never actually knew what it was. The budget's gone out of the window this month & the little emergency savings we had has now gone. I've not been able to do any overtime this month & we've got our son's 21st next month. Today is the first positive day I've had for what feels like an age. Our daughter's home . She's happy & coping amazingly well. We're so very proud of her. I'm now ready to continue my debt busting journey. Thanks for taking the time to listen


Tina xxx

Tina,

As someone who was diagnosed with Type 2 Diabetes 10 + years ago (due to my weight), let me try to put your mind at rest by saying that during this period I have only had 1 instance of being taken to hospital (self inflicted) and one instance of having to leave work early because my blood sugars were all wrong.

It is a life changing illness, but it definitely isnt an illness that should rule her life.

Through the use of medication and monitoring what I eat (and drink), my 6mth HB1AC count comes back as just a little above average but not way out of line ( for example when I was diagnosed it was 19, last time 7.2, average should be around 6.5 to 7).

Make sure that she uses the full entitlement of FREE health services she is entitled to (Chiropody, Eye Tests etc) and she shouldnt have any problems.

My illness has made no difference to me, I am still working full time etc.

I hope everything works out fine for both you and her.

Time_to_face_the_music

Mrs_Arcanum wrote: »

Once DMPs settle down it is worth checking a year or 3 later to see if the amounts tally from the DMP. Had a lovely surprise today to find one CC debt was over £800 less than on my Step Change statement. All the rest are spot on.

Do you mean a month or 3 later? Doesn't apply to me now as I self manage so know to the exact penny how much we owe on any single day but when with Stepchange (then CCCS), I checked every single statement and updated my totals on their website every month. If anyone is being charged interest and/or fees, they need to know ASAP to start the fight.

Great news on the £800 less owed :j