DMP & Mutual Support Thread - Part 9

FuzzyDF

Thank you so much Monkeyballs. For the first time today I feel years of anxiety starting to lessen. I should have done this years ago as I was paying my debts but getting more in debt to pay the debts......if that makes sense.

Should I quickly change bank accounts and stop all DD to the creditors? Will they not default me, send bailiffs round etc etc?

sunnyskies2

Hi Fuzzy

Welcome and yes this is where you will find answers to your DMP questions.

Sorry but I can't offer any answers re your creditors - if you have a look at recent posts there are some comments re: phone calls - I have received one so far (m&s) and they were really ok once I explained SC involved - so try not to worry - easier said I know - take each day as it comes and hopefully you'll soon see it's not that scary:)

Sarah

Time_to_face_the_music

FuzzyDF wrote: »

Hi Everyone,

Hope I'm posting in the right place (it seems like a friendly thread). For years I have been struggling to pay my debts until the lightbulb moment happened two weeks ago. I got a letter from Halifax telling me that they are withdrawing my O/D which I lived in. I got myself into such a state that I was experiencing panic attacks, anxiety and insomnia which were really affecting my work.

I'd given up all hope until I started reading the posts here. I phoned StepChange today about a DMP which they were fine about. I just wanted to know if anyone has been refused by the following lenders:

Littlewoods
Very
Next
Halifax
Vanquis
Capital One
Barclaycard

I have been literally borrowing Peter to pay Paul.

Also will I be pestered on the phone by the creditors in the first weeks? What do I tell them.

Sorry for all the questions but I'm still a bit shaky!

Hi FuzzyDF and welcome :hello:

I don't have any experience with your creditors and you have already had some great advice from MB, so I just wanted to say hello and agree that yes, it is a very friendly thread. If you need any advice, help or just a bit of support, someone here will always come to your aid.

TTFTM x

FuzzyDF

Thank you to everyone. I feel like a new woman today (wish I had the body of one).

I think I'm going to be a regular on here!

jubilee14

Hi Fuzzy welcome to the board.

Just from my experience of your creditors only have two
Barclaycard have been ok freezing interest for now, but as others have said i think when balance goes down or payments go up that they will re-introduce something.

Halifax continue to charge 12% pa which they think is fair as it is reduced but means only clearing a small amount of the balance. i am hoping i am heading for a default as they dont seem will to freeze interest.

Wish you lots of luck on your DF journey.

Monkeyballs

FuzzyDF wrote: »

Thank you so much Monkeyballs. For the first time today I feel years of anxiety starting to lessen. I should have done this years ago as I was paying my debts but getting more in debt to pay the debts......if that makes sense.

Should I quickly change bank accounts and stop all DD to the creditors? Will they not default me, send bailiffs round etc etc?

Hi Fuzz,

Happy to help m'dear

I know exactly what you mean, the more you struggle to find money the more 'dubious' decisions you make and so the circle continues...

Open a new account and move any money you have into it to avoid the risk of it being swallowed up

Stop your DD's and contact your creditors to offer token payments in the meantime explaining that your are n the process of entering into a DMP with SC and they'll be in touch

*Remember, if you have any PDL's then you need to cancel the CPA with them and also your bank*

What you will find is that some creditors take the news better than others, it's not personal, SC deal with established contacts anyway and not Joe Bloggs in the call centre

Remember if you really need to speak to someone then you can call SC and they'll happily chat through any concerns you have... Sometimes a chat is better than a forum post

MB of G x

Monkeyballs

jubilee14 wrote: »

Barclaycard have been ok freezing interest for now, but as others have said i think when balance goes down or payments go up that they will re-introduce something.

Yup, as the balance goes down if the payment doesn't reduce then it represents a larger portion of the debt owed (I.e. a £50 repayment against a £10,000 debt is 0.5% but eventually when that debt is just £1000 it's 5%) then they feel you are no longer struggling...

MB

Growurown

FuzzyDF wrote: »

I just wanted to know if anyone has been refused by the following lenders:

Littlewoods
Very
Next
Halifax
Vanquis
Capital One
Barclaycard

Sorry for all the questions but I'm still a bit shaky!

Hi fuzzy, Capital One were great, stopped all interest and haven't hassled at all. Halifax were more of a pain. They accepted the payments on the DMP but are still charging us interest albeit at a reduced rate.

Stick around and it will all turn out OK and in a couple of months when everything has settled down you will be wondering what on earth you worried about.

Growurown

Kate_fixing_it wrote: »

http://metro.co.uk/2014/06/02/drunk-pensioner-conducts-train-in-sing-a-long-and-everyone-loves-it-4747193/?ito=facebook

I think you are famous Sazzie!

Is that Sazzie in the back there?:rotfl::rotfl:

Monkeyballs wrote: »

SPARTA... SPARTA... SPARTA...

MB of G!!!

Yup definitely bonkers. What are you on? Can I have some too please?;)

FuzzyDF

And the majority of my debt is with Halifax......oh dear. They have demanded that I pay my OD off £1300 by the 18th. I haven't told them about the DMP. Should I do that now or get a new bank account and cancel all DD's with Halifax