DMP & Mutual Support Thread - Part 9

bertman

I haven't been on for a while as its gone very quiet, I pay SC every month and they pay my creditors. I am due a review fairly soon so have to fill out a new budget, some things have changed but basically it looks like it will stay the same payment each month.

I have asked if I can delay until I see what I get as nett pay in April as my tax code is changing, I will end up with less. SC are OK with this but point out that my budget is now out of date so should a creditor ask for a copy they would be unable to supply one. I guess I can fill out the basics and update the salary options in April.

One other thing is a letter today from MBNA saying that they have defaulted me and are going to either sell off the debt or apply for various orders from pacement of debt to litigation. I think they will probably sell on the debt as its one of the lowest I have at £1500.

I will update as I know more.

Hopelessly_Hopeful

bertman wrote: »

I haven't been on for a while as its gone very quiet, I pay SC every month and they pay my creditors. I am due a review fairly soon so have to fill out a new budget, some things have changed but basically it looks like it will stay the same payment each month.

I have asked if I can delay until I see what I get as nett pay in April as my tax code is changing, I will end up with less. SC are OK with this but point out that my budget is now out of date so should a creditor ask for a copy they would be unable to supply one. I guess I can fill out the basics and update the salary options in April.

One other thing is a letter today from MBNA saying that they have defaulted me and are going to either sell off the debt or apply for various orders from pacement of debt to litigation. I think they will probably sell on the debt as its one of the lowest I have at £1500.

I will update as I know more.

Sounds like a very sensible plan. SC no doubt will have a target to meet. I always think as long as you do what would be deemed 'reasonable' we will be ok. In the event of a preditor kicking off you could truthfully say what SC said and fight any repercussions.

Fingers crossed on MBNA.

HHx

dmb_2

Time_to_face_the_music wrote: »

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

Thanks for above info. I have 18 creditors and about 2 have been sold on. Some are with in house debt collection (KPR for Nationwide for example). Getting statements from about two thirds, the rest yearly. It sounds simpler than I thought. Will definetely think about this option. Thanks once again:)

Time_to_face_the_music

bertman wrote: »

SC are OK with this but point out that my budget is now out of date so should a creditor ask for a copy they would be unable to supply one. I guess I can fill out the basics and update the salary options in April.

Depending on your creditors, be careful with this. We have at least 2 creditors who ask for 6 monthly reviews and when CCCS did not send these, within days they reintroduced full interest. We got a refund in the end but it took a while and it was very stressful.

Good luck with MBNA. I am pondering asking them for a default or forcing their hand by reducing their payment. Am getting a tad cheesed off with the lines of APs on my Noddle report :mad:

Time_to_face_the_music

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 Denebola :hello:

Well done on getting sorted out with your DMP :T

The only creditor we share is NatWest. They like to play hardball with interest and refusing to freeze or reduce it. After a complaint, we got the FOS involved and managed to get it frozen and a full refund of all interest paid since start of DMP.

Never be worried to ask for help, either here, to StepChange or to the FOS

Hopelessly_Hopeful

Morning all

Being a good MSEr, :A as have been soaking 5 lots of beans and some lentils over night. Just boiling up then will portion to 12 'takeaway' containers for the freezer to add to chillis and caseroles. Am sure people will think I am loosing the plot but I was thinking I'll probably use a container each week so I'll be at month 38, under 15k and 75% paid off by the time these are used up. Then there's the ozone layer to consider .......:rotfl:

HHx

Hopelessly_Hopeful

Time_to_face_the_music wrote: »

Depending on your creditors, be careful with this. We have at least 2 creditors who ask for 6 monthly reviews and when CCCS did not send these, within days they reintroduced full interest. We got a refund in the end but it took a while and it was very stressful.

Good luck with MBNA. I am pondering asking them for a default or forcing their hand by reducing their payment. Am getting a tad cheesed off with the lines of APs on my Noddle report :mad:

Glad you came out on top though; as we knew you would Ms TTFTM.

Am not advocating not communicating just that if it kicks off there is a reasonable defence and may save two lots of hassle given that the amount is likely to change again next month.

Good plan re MBNA. Have you checked your other reports? I haven't but am considering stumping up the £2. The APs are nigglig me too, wish I had put up a fight earlier in the DMP, if only we knew what we know now!

HHx

MarieC5575

Hi all

I am in the process of setting up my dmp. I am currently sending out letters to creditors. Can anyone tell me where I should send the letter regarding my bank overdraft. Should it be my branch or is there usually a department that deal with this kind of thing. I'm with Bank of Scotland? Can I just say that the help on here makes this process so much more bearable. Thanks in advance.

M

Hopelessly_Hopeful

MarieC5575 wrote: »

Hi all

I am in the process of setting up my dmp. I am currently sending out letters to creditors. Can anyone tell me where I should send the letter regarding my bank overdraft. Should it be my branch or is there usually a department that deal with this kind of thing. I'm with Bank of Scotland? Can I just say that the help on here makes this process so much more bearable. Thanks in advance.

M

Welcome

Is there an address on your checkbook or statement? I'd send it there.

Shout up if you have any queries

HHx

Alice_in_Welfareland

I always hand in letters to my bank branch and they are seeming to find the way to where they should be may be this is because I am mean with the stamps.