DMP & Mutual Support Thread - Part 9

Kate_fixing_it

I'm going to be off sick for at least another two weeks and this way I get free entertainment! Going to record the next calls I know it's very childish but we've been giggling all afternoon and hopefully it's broken up the monotony for the caller, I really feel sorry for them when all they're doing is trying to make a living so hopefully "David" has had a bit of a giggle too amongst the dozens of rebuttals he'll have had.

Kate x

Time_to_face_the_music

jjm1960 wrote: »

Has anyone heard of or had dealings with debt advice company called Money & More?
Were they reliable?

Hi jjm and welcome :hello:

The simple answer is not with a barge pole :mad:

Read Fermi's advice on who to go to for impartial and free debt help

https://forums.moneysavingexpert.com/discussion/4228011

spiffyiffy

Time_to_face_the_music wrote: »

Is your Santander credit card going into your DMP? If so, this is still associated debt and you should change your "safe" bank account to one with no links to any debt.

TTFTM x

That's a very good point.


I have a £500 limit with my Santander credit card but I may pay all of this off when I decide to do my token payments to my creditors.
Adding to this, If I did the above and went into DMP without the Santander credit card; would I be able to keep that card?


Thanks again TTFTM

Kate_fixing_it

spiffyiffy wrote: »

That's a very good point.


I have a £500 limit with my Santander credit card but I may pay all of this off when I decide to do my token payments to my creditors.
Adding to this, If I did the above and went into DMP without the Santander credit card; would I be able to keep that card?


Thanks again TTFTM

Others will be more knowledgeable but I think it's an individual thing. I still have one but under specific circumstances. SC know about it and our criteria are that it can only be used for DH's work expenses claims (he has just completed an IVA so couldn't have one of his own and his job requires it as he works away), it's cleared in full as soon as the expenses are refunded to him and I do not have access to the card. The balance on my card was zero when the DMP payments began. These are all rules I decided and discussed with SC.

A DMP is an informal arrangement (hence there being no hard and fast rules as far as I'm aware) but having one or applying for another may break the terms of your agreement with your DMP provider so I'd carefully check with them before doing anything.

Kate x

burley2014

Started DMP June 2009 with Debt of £23178, 6 creditors.
Debt now £5308, and 3 creditors paid off in full. DFD July 2015.

Have DMP with Step Change and they have been very helpful. I do still have problems with HSBC. This is when the 25th of the month falls on a weekend or bank holiday and the payment to the account is made early their system can not see this and then I get lots of phone calls from them. I have explained to them that I have a DMP and that the payment would have been made early. I am now getting ready for the phone calls this month due to the 25th being a Sunday and then Bank Holiday Monday after that.

Powered_By_Pies

I always find it funny when the banks want a payment before a weekend but if they need to put money into your account they won't put it in until after the weekend

I WILDLY overspent by an entire TWO POUNDS for a part for my laptop! The AC jack is knackered and so a cable doesn't charge it, I was initially looking at another laptop as the one I have is a bit dog-eared and about 8 years old... But it still works for what I need it to do so I figured I'd try the fix before consigning myself to needing to shell out of the small emergency fund I have built up. Only annoyance is the soldering iron I have isn't hot enough to remove the factory soldering on the current component, meaning a run around to find a PC repair shop tomorrow to see if they can do it... Grumble grumble...

Money wise, all quiet on the western seaboard! Only other contact I've had is from Capital One, wrote back with the DMP reference number and that was that.

It's easy this DMP malarky.... Oh god I've jinxed it now!!! :eek:

vix1977

Jetsetwilly wrote: »

Hi. I was with Lloydstsb (before the split) and also with Halifax. I opened a new account with Natwest but because I wanted to keep the overdrafts on the other accounts to pay off with the dmp I had to manually phone up all the direct debit companies and swap them to the new account.. Pain in the backside but worth it.

If you do an account switch they'll take the overdraft which isn't much use when you say you're on a dmp to the new account!

Before I did this I forgot to withdraw £400 from one account and they took the lot

I am just in the middle of opening a new bank account with Nationwide as I want my Lloyds overdraft included in my DMP. on the application form it asked if I wanted to close my Lloyds account when they transfer everything over and I said no. It also asked if I wanted the overdraft paying with any money in the account and I said no! Do I need to make sure I remove all money in that account (i.e. my overdraft) before the final switching day?

Kate_fixing_it

vix1977 wrote: »

I am just in the middle of opening a new bank account with Nationwide as I want my Lloyds overdraft included in my DMP. on the application form it asked if I wanted to close my Lloyds account when they transfer everything over and I said no. It also asked if I wanted the overdraft paying with any money in the account and I said no! Do I need to make sure I remove all money in that account (i.e. my overdraft) before the final switching day?

I'm assuming you are in the overdraft now?

There are two ways to look at it. If you leave the overdraft as it is your debt will be lower and you'll have no access to that available cash. If you withdrw it you have the money to hand but you'll pay it back as part of the DMP.

Entirely up to you. I viewed it as starting afresh. I'd been in my overdraft for years so transferred the available cash (about £6) as it was such a small amount it didn't really affect the overall debt total.

Kate x

vix1977

Hi Kate


Yes I am in the overdraft now, don't think I am ever out of it.


I have included the overdraft in the DMP and definitely wouldn't be able to manage without any money that may be left in it! There probably wont be any in there anyway at switch day. I presume that Nationwide will tell me when switch day is going to happen. If they contact my old bank for the direct debits my old bank won't be able to suddenly stop me taking any money out will it? My bank account should still work normally until final switch day shouldn't it??


I am so stressed with getting a new bank account open and I haven't even sent the forms back to SC yet, haven't missed any payments yet though and don't think there are any more due for a couple of weeks!

Kate_fixing_it

I'm not sure how the switching service works but I suspect the bank you are leaving will hold on to the available funds. I set up new DDs "manually" when I switched. The first my old bank knew about it was when my salary wasn't paid in.

New raft of issues here the unexpected £12 from tax credits was the start of the new payments. From Monday my weekly payment is dropping even further I'm just about to go get my stitches out so can't call them until later today I did have a look at the amount they are taking to clear the overpayment though... £167 a month!!!! I'm going to have to speak to them about a longer repayment period as we simply can't live on this. They're getting £37 a month more than my DMP payment which is for 7 debts! I just hope that speaking to a human being can adjust the situation.

Does anyone know if that's the case? Will they take into account other debts when recalculating? I really hope so. My only other option is to reduce the SC payment and extend the DFD. I know this repayment schedule is computer generated, I just hope that a real person can help

Kate x