DMP & Mutual Support Thread - Part 9

Find_The_Real

Hello Icklepickle

Fortunately I wasn't married to the thing when I left him so I'm not really sure on that one. Are you managing to make the payments at the moment as it may be easier to seek free advice once you know where you are with regards to finances.

However I did start a DMP with StepChange before the house repossession is totally sorted with the idea to re-consider my options when I know what kind of horrendous shortfall there is due to ex, so if you are struggling then I would speak to one of the free charities mentioned on the board, as it can always be changed when your finances do.

Just wanted to wish you good luck for the future.

humphrd

Hi everyone - Stepchange have been really quick and been on the phone and email today so things are moving full steam ahead ! I've also written to each of my creditors and these went in the post today - bet my ears will be burning tomorrow ! Anyway life has been pretty s**t over the last few years and although have managed to keep above water up to now something had to give !

I've seen mentioned on here about spreadsheets - is there one in particular you can download or have you just pulled your own together to keep a track on spending and more importantly the debts !

Time_to_face_the_music

dmb wrote: »

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

1. We never officially told creditors, we just paid them the same amount but we gained a month on our DFD but not having to wait for StepChange from payment in on 1st to payment out on 25th. All creditors seem happy and have never questioned anything.

2. We saved StepChange's last review and will adapt this for next review date. If you ask StepChange, they will supply you with a contact list for all of your creditors.

3. Even though StepChange were very off with us via email and letter, when we left them and actually told us we would not succeed in going it alone. We did speak to someone who told us they would welcome us back with open arms if we decided we needed their help again.

Good luck and please let us know what you decide to do

Time_to_face_the_music

icklepiggle wrote: »

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

Hi icklepiggle and welcome :hello:

Personally I would wait until I knew my exact financial position.

Having said that, there is nothing to stop you contacting StepChange, Payplan, CAP, CAB etc now and getting some advice.

Good luck and please let us know if you need any help or advice, and just stick around for a chat and some support

Time_to_face_the_music

humphrd wrote: »

Hi everyone - Stepchange have been really quick and been on the phone and email today so things are moving full steam ahead ! I've also written to each of my creditors and these went in the post today - bet my ears will be burning tomorrow ! Anyway life has been pretty s**t over the last few years and although have managed to keep above water up to now something had to give !

I've seen mentioned on here about spreadsheets - is there one in particular you can download or have you just pulled your own together to keep a track on spending and more importantly the debts !

Hopefully taking this action will be the start of better things to come.

I just use an excel spreadsheet and have a new workbook page for each month. HH is the queen of spreadsheets, she puts me to shame. Hopefully she will be along soon with some advice

excited_to_be_free

Ok, so I've done the debt remedy tool on Step Change's website. I opened a new basic bank account with a different bank (I have an OD with Lloyds that I want taken into account too). My question is this:
I get paid on the 15th of every month. Payroll at work require changes by the 21st. So because it's the 2nd today they will put my salary in my Lloyds TSB account. Payday loans are due to come out of that account on the 15th which will then leave my in the same situation I now find myself. Absolutely skint with not a penny to my name and I refuse to take anymore payday loans (well, with having 10 already, why make it an uneven number :eek: Should I call the bank to cancel all payments? Not sure what to do? Any advise would be greatly received. Thank you!

Find_The_Real

ANewLeaf wrote: »

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.

As TTFTM has said it should probably go to the central collections department rather than the individual branch. Not sure how your place works but the one I worked for had a central address, nothing was sent into branches.

I used to run the systems for the one I worked for and so I have actually spoken to people I have worked with who know I am in debt but it happens and I am not going to be ashamed of it. I know it is hard as working in a financial institution people are assumed to know better but we are all human. I didn't help that I didn't get a £1.2 million pay off like the Chief Exec of where I worked.

Good luck with the manager, I'm sure it will be fine.

Find_The_Real

humphrd wrote: »

I've seen mentioned on here about spreadsheets - is there one in particular you can download or have you just pulled your own together to keep a track on spending and more importantly the debts !

Hi Humphrd, well done on getting everything organised. I'm sure there will be some phone calls but if they annoy you insist they putting it in writing and to stop contacting you by telephone.

I must admit I rather enjoyed getting the phone calls as I could spend my time moaning at their expense and still not pay anything extra to them, and so now I don't get any, I'm feeling a bit lonely.

I just used excel and have 5 tabs split into different sections such as daily spends, real time balance, balances and because I am uber geeky even how often I put petrol in the car, cost and how many miles I have done since then, so I can compare my usage. Ok I admit that one is a bit sad!

Find_The_Real

excited_to_be_free wrote: »

Ok, so I've done the debt remedy tool on Step Change's website. I opened a new basic bank account with a different bank (I have an OD with Lloyds that I want taken into account too). My question is this:
I get paid on the 15th of every month. Payroll at work require changes by the 21st. So because it's the 2nd today they will put my salary in my Lloyds TSB account. Payday loans are due to come out of that account on the 15th which will then leave my in the same situation I now find myself. Absolutely skint with not a penny to my name and I refuse to take anymore payday loans (well, with having 10 already, why make it an uneven number :eek: Should I call the bank to cancel all payments? Not sure what to do? Any advise would be greatly received. Thank you!

Hello Excited,

I would contact the bank and try and cancel the payments to the pay day loans but you need to make sure you cancel any continuous payment authorities you have on the account as even cancelling the card would not stop them taking the money.

As you have a overdraft with LLoyds I would be inclined not to inform them you are going on a DMP until you have got the pay into your new account as they could right of offset with the overdraft and find they take money instead.

excited_to_be_free

Find_The_Real wrote: »

Hello Excited,

I would contact the bank and try and cancel the payments to the pay day loans but you need to make sure you cancel any continuous payment authorities you have on the account as even cancelling the card would not stop them taking the money.

As you have a overdraft with LLoyds I would be inclined not to inform them you are going on a DMP until you have got the pay into your new account as they could right of offset with the overdraft and find they take money instead.

Thank you. I received all the paperwork this morning and will start the ball rolling today. So can I fill in all the details, including the OD for Lloyds and then only send them the letter after the 15th? And send everyone else the letter beforehand? I just don't want them taking my whole salary. Thank you!