DMP & Mutual Support Thread - Part 9

Time_to_face_the_music

dmb wrote: »

Hi,

How difficult was it to go to self-managed DMP. I've got quite a lot of creditors so not sure it's worth the hassle but I do like the idea of being more in control. Were any creditors in particular that were hard to get on board to self-managed

No difficulty at all for us as all of our debts were still with original creditors and we were still getting statements. We had 10 creditors and we just set up new online payments and paid on the same day as CCCS. Because the payment goes out immediately instead of waiting 25 days as previously, we were almost a month ahead.

As long as they are getting paid, they don't seem to care where it comes from!

If you need any extra help, NED CAB website has some really useful stuff and includes lots of template letters for a self managed DMP:

http://mymoney.nedcab.org.uk/moneyadvice/signup.asp

How many creditors do you have? Has any of your debt been sold on? Do you still get statements?

Having the control back is well worth the extra bit of hassle to me

Find_The_Real

Hello all

Good to see those still hopefully making some progress with trying to get everything in place and that there seem to be more positives than negatives which can only mean good things.

I finally almost got a call today about what I owe which was the first one of this round of debt management and I was all totally prepared, only to find out they had shoved me into the automated dialler when I shouldn't have been and they terminated the call as soon as they read the notes. Having taken the time to ring me though could have at least given me the chance to have a good moan about my financial situation.

I quite like the idea of a self-managed DMP but having dealt with the mortgage by myself I find it quite nice to be a bit lazy over this lot and get someone to the do the work for a change so I can concentrate on the budget side of things more.

Hopelessly_Hopeful

Morning All

I too went self managed this month. Am keeping my fingers crossed that I will be finished in a year or so. I keep hearing Delboy say this time next year Rodney!

Hope everyone having a good week.

HHx

catandy

Hi

another question from me - been making nominal payment as not had enough income for Stepchange to set up a formal DMP as was out of work.

Now back earning self employment and a small income from business I run with ex partner. Enough income to pay the bills and pay business expenses to kick company into life properly. If I do that it means that I cant start making payments to CC's who have all accepted reduced payment schedule and frozen interest and fees with the exception of Aqua who will freeze all costs from April.

If I dont pay for the company expenses it dies meaning that my chance of being gainfully employed long term dies with it, or I let that happen and instead use the money to clear my arrears on the CC making interest payable on all of them again... which seems a crazy state of affairs. I dont have enough money to clear the Aqua card in its entirety so a freeze of interest is the only thing I can do now.

As I see it I dont really have a choice but to spend this months disposable income on securing the business and my long term employment but it still feels a bit 'immoral' using that money for not paying debts off.

And will the CC co's be able to work out that I could have paid them but didnt and will it mess everything up with StepChange? I know I'm supposed to tell them about a change of circumstance but I can from next month once the business and my job / income is secured??

sorry for the rambling i just cant get my head straight :S

Denebola

Hi All...!

This is my 1st post to this DMP support board, so I'd like to say hello!

My wife and I confronted our debt problem 2-days ago and have already emailed everything to StepChange. Our creditors are as listed below, but I'm wondering whether any of you have experience with these companies good or bad and are happy to share whether they accepted the DMP or not.

Littlewoods/Very
Simply Be
Capital One CC
Natwest CC
Tesco CC
Vanquis CC
GE Money
HSBC.

Thanks and regards.

catandy

Denebola wrote: »

Hi All...!

This is my 1st post to this DMP support board, so I'd like to say hello!

My wife and I confronted our debt problem 2-days ago and have already emailed everything to StepChange. Our creditors are as listed below, but I'm wondering whether any of you have experience with these companies good or bad and are happy to share whether they accepted the DMP or not.

Littlewoods/Very
Simply Be
Capital One CC
Natwest CC
Tesco CC
Vanquis CC
GE Money
HSBC.

Thanks and regards.

for me both vanquis and capital one froze all interest and fees immediately and accepted the DMP offer from Stepchange. sorry no experience with any of the others

Hopelessly_Hopeful

Denebola wrote: »

Hi All...!

This is my 1st post to this DMP support board, so I'd like to say hello!

My wife and I confronted our debt problem 2-days ago and have already emailed everything to StepChange. Our creditors are as listed below, but I'm wondering whether any of you have experience with these companies good or bad and are happy to share whether they accepted the DMP or not.

Littlewoods/Very
Simply Be
Capital One CC
Natwest CC
Tesco CC
Vanquis CC
GE Money
HSBC.

Thanks and regards.

Hi and welcome


Tesco defaulted me and froze interest at three months.

HHx

Mossop01

Denebola wrote: »

Hi All...!

This is my 1st post to this DMP support board, so I'd like to say hello!

My wife and I confronted our debt problem 2-days ago and have already emailed everything to StepChange. Our creditors are as listed below, but I'm wondering whether any of you have experience with these companies good or bad and are happy to share whether they accepted the DMP or not.

Littlewoods/Very
Simply Be
Capital One CC
Natwest CC
Tesco CC
Vanquis CC
GE Money
HSBC.

Thanks and regards.

Hi littlewoods have frozen interest for 12 months, hsbc (after me pestering) also froze interest for 12 months
Hope that helps
Good luck x

RonniesMummy

Hiya everyone,
Nice to see a few more new people joining, best of luck!

Ive had another letter from lloyds accepting the payment plan, they are driving me insane, stepchange have said they haven't accepted a plan but Lloyds are saying they have... :mad: Just never know where you stand!

Had a letter from aqua today demanding payment for the outstanding or else they may default me, I wish they would no more interest to be added then!

Roll on payday, and the 25th, second lot of payments go to my creditors then, hopefully this will mean everything will calm down a bit then!

Hope everyone is good x

Hopelessly_Hopeful

RonniesMummy wrote: »

Hiya everyone,
Nice to see a few more new people joining, best of luck!

Ive had another letter from lloyds accepting the payment plan, they are driving me insane, stepchange have said they haven't accepted a plan but Lloyds are saying they have... :mad: Just never know where you stand!

Had a letter from aqua today demanding payment for the outstanding or else they may default me, I wish they would no more interest to be added then!

Roll on payday, and the 25th, second lot of payments go to my creditors then, hopefully this will mean everything will calm down a bit then!

Hope everyone is good x

Good news on the whole then

Best to take notice of Lloyds rather than SC in this case!

Given Ms TTFTM advice have you consider writing to Aqua and asking them to default you?


HHx