DMP & Mutual Support Thread - Part 9

Growurown

ANewLeaf wrote: »

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.

Hi ANewLeaf. Yours is a completely natural reaction to the start of a DMP. We have all had that sick feeling in the pit of the stomach, the worry, panic etc. Please believe me it will get better. If you get lots of phone calls etc. you can write and ask for all communication to be by post. I was expecting a lot of phone calls but didn't get nearly as many as I had thought I would.

As to your work and overdraft situation I can't really help with that one. Hopefully our more knowledgeable friends will be along later to help you out.

zenshi

Well, I'm having a down day

I am having to go it alone with a DMP and wrote off my letters last week and was quite hopeful. Checked my bank statement and have been slapped with charges for bounced DD's

So tried ringing bank but was on hold for ten mins so gave up, will try later when it's hopefully quieter. Thenn the postie came bringing two letters from the creditors saying I missed a payment and pay immediately and have a late payment charge to boot. No acknowledgement of my letter which was disappointing

I'm feeling very bogged down with it all again

Mossop01

Growurown wrote: »

Hi ANewLeaf. Yours is a completely natural reaction to the start of a DMP. We have all had that sick feeling in the pit of the stomach, the worry, panic etc. Please believe me it will get better. If you get lots of phone calls etc. you can write and ask for all communication to be by post. I was expecting a lot of phone calls but didn't get nearly as many as I had thought I would.

As to your work and overdraft situation I can't really help with that one. Hopefully our more knowledgeable friends will be along later to help you out.

Hiya, those feelings are completely normal, at the beginning its very much like a roller coaster, just one day at a time and it does get better
Good luck

Mossop01

zenshi wrote: »

Well, I'm having a down day

I am having to go it alone with a DMP and wrote off my letters last week and was quite hopeful. Checked my bank statement and have been slapped with charges for bounced DD's

So tried ringing bank but was on hold for ten mins so gave up, will try later when it's hopefully quieter. Thenn the postie came bringing two letters from the creditors saying I missed a payment and pay immediately and have a late payment charge to boot. No acknowledgement of my letter which was disappointing

I'm feeling very bogged down with it all again

Hang in there and stick to ur guns they cant gave what u havent got!

Find_The_Real

Hi Zenshi, it is frustrating when they don't seem to listen or acknowledge any correspondence. A lot of banks have a dedicated complaints team and quite often their direct contact details can be found on the websites. If you are not getting any answers or help then I would certainly send a letter to them with proof of posting.

Unfortunately they seem sense if they can get away with adding charges and not playing fair, so it is just a matter of being persistent when they realise they are not getting any more money that you have hopefully they will play nicely.

Although you are having to sort out the letters alone, just remember we are here to offer sympathy, support and any advice we can so please do not feel that you are entirely alone in this.

dmb_2

Hi everyone,
Still in two minds as to whether I should stay with StepChange or go self-managed.
So...
1. do you have to inform creditors that you are now self-managed or just pay them same amount around 25th.
2. what happens at review time?
3. if creditors not happy how easy is it to go back the debt charity and restart DMP

Hope everyone is enjoying a little bit of sunshine

icklepiggle

Hello everyone

I am in the process of getting divorced & thinking about a dmp - should i wait until we have agreed a financial settlement?

Thx

Time_to_face_the_music

RAC0207 wrote: »

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?

This is BOS's convoluted way of telling you they require a 6 monthly review from StepChange.

StepChange don't always remember to do this and creditors are known to use it as an excuse to reintroduce interest. Set a reminder to contact StepChange a couple of weeks before the 6 months is up and remind them to send a review to BOS.

Time_to_face_the_music

ANewLeaf wrote: »

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.

I went from panic to elation and back again frequently within minutes at the start of our DMP. Honestly it's normal, we all do it and it does calm down. Trust me please.

StepChange have specific creditor addresses and judging from ours, they all seem to be head offices or collection centres rather than individual branches.

That's an awkward situation with work and I hope your meeting goes well.

Time_to_face_the_music

zenshi wrote: »

Well, I'm having a down day

I am having to go it alone with a DMP and wrote off my letters last week and was quite hopeful. Checked my bank statement and have been slapped with charges for bounced DD's

So tried ringing bank but was on hold for ten mins so gave up, will try later when it's hopefully quieter. Thenn the postie came bringing two letters from the creditors saying I missed a payment and pay immediately and have a late payment charge to boot. No acknowledgement of my letter which was disappointing

I'm feeling very bogged down with it all again

Sometimes at the start of a DMP, your debt can go up because of charges and interest. It's really tough to see your first payment or two sometimes making no impact

We found by the end of the second month, things were starting to look up. Hopefully the same will happen for you and things will start to appear brighter