DMP & Mutual Support Thread - Part 9

Time_to_face_the_music

Puzzcat wrote: »

BB, no answer for you but it will probably be completely unrelated to your dmp and some 'sales call'. Do let us know tomorrow and don't worry.
Puzz.x

^
What Puzz says x

blisteringblue

Like I said I'm not going to worry until I speak to them, but I am going to be extremely vague when I do speak to them because I want to know how they have found out. I can only think that because it is a current account as well as a mortgage they have seen the payment to Stepchange for the past 3 months.

It may even be the new FOS "help with your debts" letter because the bottom section is all about who to ring if you need help, and that includes CAB and StepChange.

Monkeyballs

FuzzyDF wrote: »

I'm having a major wobble which resulted in a panic attack just now.

My DMP with SC should start on 1st July. I spoke to a really lovely guy at SC for some additional reassurance. I have a sect of about £5K with Very and Littlewoods. He said they were "really difficult to deal with".

What happens if they don't accept the DMP. Will the interest just keep rolling over until I literally have a heart attack.

Very worried.

Hi Fuzz,

Do you have anything on Buy now pay later?

I had a grand or so with Very and they accepted the reduced payments in the end (the woman I spoke to originally was horrible but SC told me they deal with people higher up and it would be ok in the end).

Anyway, they accepted the reduced payments and my statements did mention the plan as being in place but they were unwilling to stop the interest being applied to my BNPL goods.

Luckily I was able to get cash together to pay it before the interest kicked in but I was told that if I hadn't then the interest would have been added to the balance - but the agreed payments would stay the same and eventually pay it off.

I do think SC have more "sway" with Very than I would have done if I'd gone it on my own though...

MB

FuzzyDF

Hi MB,

Most of the debt is on BNPL as when it came to Christmas I had to pretend that money wasn't an issue, nothing OTT just £150 here and there and then the reality of the interest hit me. I should count my blessings as I have a job, although home life is difficult as I've moved back to look after my parents 80 and 89 who are in poor health. I have this debt over my head. I'm almost at the point where I feel like ringing the Samaritans. Sorry to bring the tone of this beautiful happy bored down.

Monkeyballs

FuzzyDF wrote: »

Hi MB,

Most of the debt is on BNPL as when it came to Christmas I had to pretend that money wasn't an issue, nothing OTT just £150 here and there and then the reality of the interest hit me. I should count my blessings as I have a job, although home life is difficult as I've moved back to look after my parents 80 and 89 who are in poor health. I have this debt over my head. I'm almost at the point where I feel like ringing the Samaritans. Sorry to bring the tone of this beautiful happy bored down.

Hmmmm...

It could be tricky but I think you'll likely wind up paying the BNPL interest - that's the bad news

The good news is that all you'll need to do is, after it's added to your balance sign into your DMP and update the balance and the payment to them will stay the same until your next review (at which point it will probably go up a bit)!

Remember, your monthly payment won't go up but your debt free date will be set back a little but that's not necessarily a bad thing either... You know why? More time to save and make F&F's!

Take all of those negative thoughts and change them into ways to make mo money, mo money, mo money! It's the start of something great, something new so it will be scary but you'll win in the end don't you worry

MB of G x

Puzzcat

FuzzyDF wrote: »

Hi MB,

Most of the debt is on BNPL as when it came to Christmas I had to pretend that money wasn't an issue, nothing OTT just £150 here and there and then the reality of the interest hit me. I should count my blessings as I have a job, although home life is difficult as I've moved back to look after my parents 80 and 89 who are in poor health. I have this debt over my head. I'm almost at the point where I feel like ringing the Samaritans. Sorry to bring the tone of this beautiful happy bored down.

Ok, it's just money. I lost my friend on Saturday age 41 with two children aged 2 and 5. Get your dmp started and worry about everything else if it happens. Life is too short, read back through the dmp mutual thread, I read 3 of the threads pre starting my own dmp. Do not worry about what MAY NOT HAPPEN...concentrate on the here and now...you can be debt free, we are all with you .
Puzz.

Growurown

Hi Fuzzy, sorry you are feeling so low and stressed by your debt but as Puzz says it's only money. Try to take it day by day and again not worry about things that probably won't happen anyway.

There's no debt problem that can't be sorted and we are here to help and support. HH and TTFTM have a wealth of knowledge to help you fight the creditors and tackle the interest charges. Get the DMP underway and see what happens. You will feel so much better when you are in control of your debts.

Sazzie23

FuzzyDF wrote: »

Hi MB,

Most of the debt is on BNPL as when it came to Christmas I had to pretend that money wasn't an issue, nothing OTT just £150 here and there and then the reality of the interest hit me. I should count my blessings as I have a job, although home life is difficult as I've moved back to look after my parents 80 and 89 who are in poor health. I have this debt over my head. I'm almost at the point where I feel like ringing the Samaritans. Sorry to bring the tone of this beautiful happy bored down.

Hi Fuzzy, it is ok to feel rubbish, and I'm sure you wouldn't be the first DMPer to call the Samaritans. Moving back home can't have been easy, and looking after your folks is probably not always fun.

Maybe focus on those milestones of a DMP, like the first payment towards the DFD, the first £100 off the total etc
Suspect like many here, times have been tough for a while, you'll quite probably have more free cash on the DMP than you have for a while, if you can, treat yourself to a !cheap haircut/massage/mani/bottle of wine/ pair of socks ...whatever gets you through.

Life is too short

Ps I've heard Very and Littlewoods can be horrid on the phone, so don't bothuer to talk to them. If they leave you a message, send them an email or write in reply. They can't insist you talk on the phone. From other threads I think their policy is to reject and threaten, but don't worry SC will tell you to keep paying and they will accept eventually.

FuzzyDF

What a difference a night has made. I didn't sleep a wink :eek:

I felt that I really needed to confide in someone as the stress was just too much. Phoned my big brother at the crack of dawn (he has been helping me out a lot and I felt that I had been deceiving him as I didn't tell him the true figure of my debt).

I told him the truth and he wasn't angry. It was like a weight had been lifted off my shoulders as I can confide in someone.

I'm ready for all this now. I'll send out my 'apology' letters to my creditors this weekend (can't face the phone) and my plan should start on 1st July.

Onwards and upwards to finally getting my life and health on track.

Monkeyballs

FuzzyDF wrote: »

What a difference a night has made. I didn't sleep a wink :eek:

I felt that I really needed to confide in someone as the stress was just too much. Phoned my big brother at the crack of dawn (he has been helping me out a lot and I felt that I had been deceiving him as I didn't tell him the true figure of my debt).

I told him the truth and he wasn't angry. It was like a weight had been lifted off my shoulders as I can confide in someone.

I'm ready for all this now. I'll send out my 'apology' letters to my creditors this weekend (can't face the phone) and my plan should start on 1st July.

Onwards and upwards to finally getting my life and health on track.

Good for you Fuzz, whatever you feel comfortable with and remember we're all behind you 100%

MB x