DMP & Mutual Support Thread - Part 9

dubs57

EdFromBeds wrote: »

Hi, I have been on a SC DMP for nearly 3 years and have reduced my debt from £55k to £17.

I have never missed a payment or needed to reduce a payment to cover an unexpected cost.

However my car is broken and I will find out next week how much it will cost - I have no backup cash anywhere.

How responsive are they generally to this kind of issue?

Will my creditors get angry if I have to reduce one months payment?

Thanks

Stepchange say that if you have unexpected and expensive emergencies that they recommend that you reduce or suspend your payment for that month. This is what they advise you to do in these circumstances. The creditors also accept it. Good luck with sorting it out.

Puzzcat

blisteringblue wrote: »

:rotfl: This isn't your personal forum you know

Team DMP
:cool:

Are you sure????:D
Puzz.x

blisteringblue

Puzzcat wrote: »

Are you sure????:D
Puzz.x

No ... Sorry Puzz, won't let it happen again

Puzzcat

blisteringblue wrote: »

No ... Sorry Puzz, won't let it happen again

I think bb we need to get very knowledgeable very quickly as the oldies debt free dates draw ever nearer....they may leave us...:eek:

Love this thread..Xxx

vix1977

Puzzcat wrote: »

Hi Vix,


I see BB has answered your questions in my absence..! I did get some calls but just quoted my sc ref number, no nasty one's, only Natwest were a little tetchy shall we say.. but then a third of my total debt is with them.. I also sent cheques with a letter each time to the creditor for every month when they should have had a payment, SC chased me in the end to set it up, I think they thought i'd run away...!!


Puzz.

Thanks Puzz (and BB) :rotfl:. I just want to say that you and BB are doing a fantastic job, I know where to come if I need any questions answering :T.
Vix

Growurown

Puzzcat wrote: »

I think bb we need to get very knowledgeable very quickly as the oldies debt free dates draw ever nearer....they may leave us...:eek:

Love this thread..Xxx

Oldies!!!!! Well OK maybe just a bit old;)

EdfromBeds, I've had to reduce my payments several times due to my extremely inconsiderate car. It hasn't been a problem. Some of my creditors asked me to resubmit I&E details again as I had broken my agreement with them but that was the only thing that happened.

sunnyskies2

Hi Vix

..I know you have had answers re your query - but just thought I'd let you know about conversation I had with SC this week re setting up my DMP.

...I had asked for discretionary short term o/d as OH self employed - lady very helpful understood predicament but would not ok o/d she did however say it was up to me when I start DMP, in other words save a bit of a buffer by paying token £1 per debt for a couple of months, which is by far the better option. Also to send paperwork back now with covering letter stating when you want DMP to start - they will write to creditors and let them know the start date. Btw M&s rang re my token payment - I gave them SC ref number and they were very happy and said would not review for two months. Obviously not everyone will be so amiable...but a nice gentle start for us !!

Good luck with it all

Sarah:)

Monkeyballs

All hail the wise and mighty Puzz... Hmmm...

"We're off to see the Puzzcat! the wonderful Puzzcat of Debt" LOL quick! repeat after me!!! "there's no place like being in credit, there's no place like being in credit" LOL

Vix - some creditors are nicer than others... I found the worst were the people who I assumed would be best which made me feel bad (boo) but regardless of them calling just keep telling them that you have entered into a DMP with Step change, your ref. and that they will be in touch before asking them to not call and reminding then that you want all communication to be via email or post so you have a full audit trail (ask for their name and tell them you're recording it with dates and times for future reference I doubt you'll need it but it makes you feel in control )

BedEd - SC are very understanding so long as it's not a common thing and you're honest

MB

City1

Good evening.
Just last night, we sent back our form. Looking some advice on what to expect in the coming months/years. What action from our creditors, the best ways in which to deal with our creditors when they contact.


At present we are looking at £78000 of debt, scarily we only had about £10000 debt in September of last year! Stepchange say that with our payment plan as it stands it will take us 20+ years to pay this off. Me and the Mrs have worked out that if we plan it correctly we should be able do it in 8 - 10 years (everything crossed). Really did not want to pursue the IVA route!

What is the best scenario we would be looking at with how the Credit Card deal with us?


I am sure I will have further questions along the way.


Not totally sure when the journey started to be debt free, but I am in no doubt that it will be quite a ride!
Regards

Puzzcat

I will leave sir mb to answer this one....bow' s down to the wise one...

Now seriously, creditors seem to play ball differently with everyone, I can only say from my personal experience..9 creditors, 7 of which were credit cards. I now have only one charging reduced interest. I hope all works well for you and I'm sure someone will be along shortly to assist you further.
Puzz.