DMP & Mutual Support Thread - Part 9

Monkeyballs

Evening chaps and chapettes

I know it's late but I was wondering if anyone has any experience of this?

Through reduced pay due to injury my DMP repayments are going to be dropping to less than half of what they normally are and with no real idea how long I'll be off work I could potentially have to drop lower if I wind up on SSP (I'm confident his won't happen though).

I recently told my mum about my DMP which went down like a lead balloon but she is happy that I'm sorting my debts and they're not as bad as she expected anyway(!) but is panicked about my Wonga loan for some reason?

She kept going on about people getting loans from Wonga and not repaying and being sent to court(?) and there is no way of convincing her otherwise...

She has made me contact them to make an F&F of £90 against an outstanding balance of £430(ish) after I stupidly told her I'll get a low settlement and not to worry and has given me the money and won't take it back!!!

I'm not overly worried about the money as I actually pay out quite a bit each month to help her (washing machine rental (don't ask lol), phone line and £20 towards fuel but hush don't tell my creditors) but I'm pretty sure that the £90 offer will be declined so how do I get her to take the money back?

I'm thinking that I can try to convince her that they've written it off after making a complaint but as she is a paranoid 78 yo woman convinced I'm going to prison for my sins against finances I don't know how believable she will find this LOL.

Can anyone think of anything else I could do which might be believable?

Ta muchly,

MB x

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Hey MB,

Similar boat to you, I've told my parents about my DMP and my dad's not too fussed but initially my mum was telling me how I'll get in all sorts of trouble because PDL's "are horrible people". I pointed out to her that actually if you mess them around WITHOUT doing something like a DMP they're more likely to take action. 4 of my 7 debts are PDL's and so far none of them have batted an eyelid over my DMP being sent to them. They deal with them on a daily basis. One of them hasn't even gotten round to contacting me but my DMP provider said that quickquid are never particularly fussed unless they get messed around and the repayments are so low that they mark it as a 'concern' over whether or not they'll get it back.

Wonga have been fine with me. No contact made to myself and they acknowledged the initial contact made by my provider and have frozen all interest until they receive the offer... The words the girl I spoke to from the DMP were " it's unlikely they'll kick up a fuss, as long as you pay into the DMP when you say you will, they largely let it carry on".

I don't know if that would be the same if you need to decrease the amount you can pay, but realistically, a DMP is your way of saying to them 'look, I can't afford the rate you wanted me to pay, but I'm not shirking the debt, this is the amount I can realistically afford to pay per month without running the risk of funding credit with credit.' They have to ask themselves one simple question - let the guaranteed repayments come in to repay the debt, or risk it by sending threats and ending up potentially with nothing?

Say that to her, I did to my mum and she understood in the end and is actually pleased that I've "finally got your head" screwed on to tackle the debt!

Monkeyballs

Hi Pies,

Yeah, I know Wonga will be ok with me making reduced payments in the end but sadly my mum is the kinda woman who thinks owing £3.08 for a weeks worth of newspaper deliveries is too much debt LOL if only I'd listened to what she told me growing up...

I'm not worried and I'm happy to tell mum a little white lie if it stops her stressing I just need to figure out how to give her the £90 back LOL (unless by some miracle Wonga say ok to it )

MB

schmalf

Morning all! Hello to the newbies & well done for starting out on the DMP journey. I'm not new on here but not around that much due to being a "secret" dmper so have to jump on when I can!
Anyway a brief update which KATE will probably be interested in being a fellow HSBC debtor. Is anyone else BTW, seems that HSBC debt isn't that common around here? They are my biggest creditor, have a cc and OD totalling around £12000 eek!! When I started up my DMP they used all the tricks, non matching signature rubbish, refusing to accept the plan, loads of phonecalls, letters etc, which I ignored. Through all this though they have still been accepting the stepchange payment. Well this week I've had two letters from them, finally acknowledging the dmp for both accounts! The OD account said it will probably pass to debt collections, and the cc one has been passed to Metropolitan, but not yet officially defaulted as far as I can see. They say in the letter the DMP payment & terms will continue as they are now (great as they haven't been charging interest), so I feel like this is all now moving in the right direction.

Anyone have any experience of Metropolitan, I know they are hsbc's in house dc's? Also my acc. Number doesn't appear to have changed or anything so think I will just pass the letter on to sc & sit tight.

Kate - fingers crossed for the same outcome on your HSBC debt. FYI I made my first DMP payment in Feb - was paying £1 token amounts since last November.

Onwards & upwards everyone - have a great bank holiday.

Schmalf xx

Puzzcat

Hi Schmalf,


Can't comment on the HSBC/DCA as they are one of the few I don't have debts with...!


Glad to see its all coming together and the dmp is going well.


Puzz. x

Growurown

Monkeyballs wrote: »

Hi Pies,

Yeah, I know Wonga will be ok with me making reduced payments in the end but sadly my mum is the kinda woman who thinks owing £3.08 for a weeks worth of newspaper deliveries is too much debt LOL if only I'd listened to what she told me growing up...

I'm not worried and I'm happy to tell mum a little white lie if it stops her stressing I just need to figure out how to give her the £90 back LOL (unless by some miracle Wonga say ok to it )

MB

I'd go for the little white lie option too. When she gave you the money was there an agreement that you would pay it back or was it a gift?

You could squirrel it away and give it back to her sometime in the future with another little white lie about where it came from.

chiefsfanuk

MB - I'd go with the little white lie too... I don't let my Mum know anything about my debts because I know she'd get stressed and panic over them - Mums eh?! Gotta love 'em

Well I am sitting here staring at my budgets wishing I could magic some money to make some hefty payments but it's not getting me anywhere, I am so keen to start getting the numbers moving down but I know it will be a slow process and I need to have a little patience - That is why I am so grateful for these boards to inspire me and keep me occupied instead of heading to my catalogue websites and go shopping!

I am however reaping the benefits of the frugal lifestyle that being a DFW brings. My house is smelling beautiful of BBQ pulled pork that my hubby is making with our free joint of pork shoulder (courtesy of my complaint to Asda). Not only that but he has just given me a slice of delicious warm home made banana bread made with some bananas we picked up a little while ago reduced to pennies a bunch because they were getting past their best. Peeled 'em, bunged them in the freezer and just got them out for the rainy day they were intended.

Anyhoooo there's my frugal tip of the day lol and just another thank you to all the wonderful inspirational and encouraging people on this board, you're great! :T

davidlp

Hello there recently lost my job and have applied for a dmp with stepchange

I have a unsecured personal loan with nationwide of 10k paid around 2k of it off

have arranged with stepchange to pay £75 a month, original monthly payment was £265

I just wondered what happens if nationwide say no?

sent of forms to stepchange today.

Monkeyballs

Growurown wrote: »

I'd go for the little white lie option too. When she gave you the money was there an agreement that you would pay it back or was it a gift?

You could squirrel it away and give it back to her sometime in the future with another little white lie about where it came from.

chiefsfanuk wrote: »

MB - I'd go with the little white lie too... I don't let my Mum know anything about my debts because I know she'd get stressed and panic over them - Mums eh?! Gotta love 'em

Hi,

Yeah I think the little white lie is the way to go... I have no idea if it is intended to be repaid or treated as a gift LOL she was too busy ranting at me LOL

Ok, I'm going to hold on to it for the moment and tell her they wrote it off she won't believe me but I'll just stick to the story and change the subject

It would be nice if they accepted but I'm realistic LOL

Cheers guys,

MB x

Powered_By_Pies

davidlp wrote: »

Hello there recently lost my job and have applied for a dmp with stepchange

I have a unsecured personal loan with nationwide of 10k paid around 2k of it off

have arranged with stepchange to pay £75 a month, original monthly payment was £265

I just wondered what happens if nationwide say no?

sent of forms to stepchange today.

Hey David... If they say no, you do nothing. Just keep paying the DMP. They'll keep taking the money but say they're rejecting it (if they actually do), but eventually they should just acknowledge it and let it run.

Worst they can do is file for a CCJ, but if you're paying what you can afford, what will it achieve for them except for making an informal agreement a formal one through the court? They'd effectively shoot themselves in the foot as you could in theory be only months away from increasing the payments.

A DMP is an informal agreement but it's your way of telling them whilst you can't afford the amount they wanted, you're still committed to repaying the debt. They'd rather a little of something than all of nothing if you stopped paying.