DMP & Mutual Support Thread - Part 9

Suseka

Thanks Growurown - great tip. The HR/Payroll department he has are really slow and everything has to be done by email! So I'm under no illusion that his won't get sorted in time.

If I can keep the joint N&P account going, I could already start moving the non-debt DDs over and then do as you suggest, get him to go to his bank and withdraw it in cash if needs be.

Love these nuggets of advice

Twit_Head

Hopelessly_Hopeful wrote: »

Lovely to hear from you Tooth Fairy. We just need dear Twitty to pop up now.

HHx

Woohoo - and here I am!
Had a lovely Easter with the family (hope you all had a good one too) but I am a total saddo!
Was on the world wide webby thingy and got to wondering how me old muckers were doing.
Tooth Fairy me dear - you've worked miracles - keep your chin up chuck and keep going. (I've got the champagne on ice for you)
And greetings to you all old and new :wave:
One has an ISA now you know (respect due please!)
'Twitty' xxx

dibbles

When we were going through the process of setting up our DMP many moons ago CCCs (as was) told us we could have a basic bank account with Barclays despite them being our major creditor as the bank had an agreement not to use their right of set-off in those circumstances. As soon as I put some money into the account (to pay the mortgage) they took it to cover missed payments on loans. I spoke to the bank who refunded the money immediately, which to me said that there was an agreement to ignore the set-off rights but I wasn't prepared to take the risk and closed that account and opened a Co-op one instead.

BevieB

Hi, all my self and husband have been on a joint DMP with Step Change since Sept 2011. We have approx 10 creditors and all have stopped interest. However we have a current account with the Halifax. They originally allowed us to set up a repayment plan with zero interest. They wrote to us end of Jan and informed us that the repayment plan was due to end. I contacted them to expain that our DMP will be in force for 7 years. After about 40mins they explained that they needed SC to send them a payment proposal. I then spoke to SC who agread to do this. After a few weeks we received another letter I rang the Halifax again and was told again that they had not received any notification from SC. After 3 attempts we heard nothing so thought all was well.
Anyway I have just received a call from the Halifax asking me what my proposal was???? I expalained again about SC. If I ring SC can they ring the Halifax to discuss as I feel like a piggy in the middle. The Halifax will not take details from me and for some reason do not receive correspondance from SC. They have know informed me that charges re being applied on my OD.
Not sure what to do next. I have made 2 offical complaints (They state they did not receive first) Please do you have any advice for me. On a more positive note we have manage to stop all other interest on our accounts. Even the Halifax stopped interest on both our CCs after a massive fight. They finally passed on to DCA (I think they goy sick of us)

Julie67

Evening all,

Just a quickie as I've had a busy day with family and have my mum and dad staying over tonight.
Just wanted to say hi to the newbies so hi suseka, Humphrd and a New Leaf everyone is lovely here and your questions will be answered by people much more knowledgable than me. I only started my DMP in March along with Mossop and a few others so we are not very far along the road, but I will help as much as I can. Just to say this was definitely the right decision for us.:D
Ok off to watch Jonathan Creek with my mum, have a good evening all x

Suseka

dibbles wrote: »

When we were going through the process of setting up our DMP many moons ago CCCs (as was) told us we could have a basic bank account with Barclays despite them being our major creditor as the bank had an agreement not to use their right of set-off in those circumstances. As soon as I put some money into the account (to pay the mortgage) they took it to cover missed payments on loans. I spoke to the bank who refunded the money immediately, which to me said that there was an agreement to ignore the set-off rights but I wasn't prepared to take the risk and closed that account and opened a Co-op one instead.

Aha... guessed as much. This is really helpful thanks. I've decided we will definitely go with an independent. Hoping none of our creditors have links with N&P and we'll use that joint account, otherwise will go with the Co-Op one.

smcshane

Suseka wrote: »

Hi, newbie here - in the early stages of setting up a DMP with StepChange. Was pointed in the direction of this thread by TTFTM (thanks) and have subscribed.

Have been working my way through this thread (lots to read) trying to see if there are answers to the many, many questions racing through my mind, without the need for people to repeat advice already given.

But it is a lengthy thread - so forgive me for jumping to the end to ask this.

Both me and OH bank with Barclays and quite a lot of our debt, that will go into the DMP is with Barclays Finance. Even with that knowledge SC have advised us to set up a Barclays Basic Account. Now understanding as I do about the 'offset rule' - why would SC recommend a basic account with the same bank. Has anyone else done this (stayed with Barclays?) Surely they could attempt to 'offset' against the basic account as well.

Next question is - we are waiting on the paperwork from SC, expect it'll drop in the letterbox some time this week. They've advised they would set the DMP up for 1st May - which gives us just one month to get our salaries swopped to a new bank account, transfer DDs for mortgage and utilities etc and I'm not sure that's doable. Should I ask SC to move the start date to 1st June?

I've not yet defaulted on any payments, by OH has -and has contacted those creditors with SC reference. They've given him the 30 days grace period - but if we delay the start date, to give us time to sort things out, should we go back to them to offer a token payment?

As I said I've not defaulted, what should I do, still pay all my creditors in Apr (various dates), then write to advise I'm entering a DMP and cancel the DDs so I won't make a May payment (if that makes sense).

My heads in a bit of a spin today - so any advice will be gratefully received.

Hi,

I just thought I'd add my experience as I was also with Barclays at the start of my DMP. When starting out I was in such a tiss and because step change, cccs at the time, said I could stay with barclays I did. I went into the bank to check it out and change to a basic account and they confirmed that what i had been told and readin the DMP paperwork from Stepchange was correct and as long as I moved to a basic account they would not offset. I had 2x loans, barclaycard and a mortgage with the woolwich.

I have never had any money taken out of my account and they were also the most open to F&Fs which I did for a portion Of my debt last year. I am now self managed because I now make above min payments on all remaining and when I make my last payment to Cabot next month will have no credit defaulted so had to take control again so I could start to snowball instead as my creditors no longer think I'm in financial difficulty.

I still have my basic account and am unable to upgrade which suits me fine and I think the reason for the agreement is that step change use barclays as their own bank, I believe so I guess it is a question of if you think this is right or not!

Just thought I would give the other view as step change got my though a difficult time and took the pressure off initially which I am grateful for.

Sx

RAC0207

Another quick update.... Received letters from BOS regarding overdrafts stating that they will accept payments proposed by SC however I should ensure that there is enough money in the accounts to cover these payments as well as charges and debit interest! also stating that the overdraft will decrease by these payments until September when my overdraft limit will be 0 even though it should be approx £1500. I am assuming that they intend to take the right to the overdraft away and that I'll have to come up with the outstanding balance? Anyway I contacted SC who advised to contact BOS who advised that SC should contact them and resend the proposals so I'm no further forward, anybody got any ideas? Also HFC are sending arrears letters as if they haven't been advised of the proposal, will just leave this until first payment from SC to see what happens.
Anyway, so much for the quick update! Can anyone tell me how to "subscribe" to this thread - I am a total technophobe!!!!
Hope everyone is having a cheap Tuesday!!!!

Growurown

Twit_Head wrote: »

Woohoo - and here I am!
Had a lovely Easter with the family (hope you all had a good one too) but I am a total saddo!
Was on the world wide webby thingy and got to wondering how me old muckers were doing.
Tooth Fairy me dear - you've worked miracles - keep your chin up chuck and keep going. (I've got the champagne on ice for you)
And greetings to you all old and new :wave:
One has an ISA now you know (respect due please!)
'Twitty' xxx

Oh Twitty!! an ISA - I am so proud of you, it brings a tear to my eye:rotfl::rotfl:

Hope you are well and glad you had a nice Easter holiday. We had lots of family too and it was lovely but it is back to the real world now.

Please drop in now and then when you do the webby thing. It's great to hear from the old crowd!

ANewLeaf

I felt huge relief when I decided a dump was right do me, but now I've actually got the forms, changed my banks etc I'm having a panic, I'm so scared of the fallout phone calls and letters! We have a massive 19 creditors so even a couple of calls and letters from each will be too many, but when I see it written down, no wonder I couldn't sleep juggling all those payments every month!

I'm on holiday for a week which is helping giving me the time to get organised, but as I work for one of my largest creditors I'm going to need to pop in to tell my manager, and I'm really nervous about it as he won't approve of the mess I'm in.

Does anyone know where step change write to about the overdrafts? I work in a branch where our overdrafts are based and will be mortified if they write to the branch and someone else sees it.