Puzz tries again.. this time with claws... My DMP Journey. I will get debt free...

Puzzcat

First day of Half Term and I feel rough.. typical...Have managed a few jobs I wanted to do today but think I may head back to bed for an afternoon zzzz, try and shake it off as I have lots planned for this week....:mad:


Hi SS, Yes OH and I have completely seperate finanaces and he is able to earn loads more extra money than me, so he would certainly be paying for his own holiday..! He does usually contribute to ours, after all I'm taking his dd with me... will get round to a conversation at some point, we are a bit like ships in the night at the moment...!


When I set up the dmp plan I did the budget so I would have some spare to stash in different accounts, we're not talking hundreds here..! But knowing it was going to be for at least 8 years there was no way I could go that long without my sunbed.. If it wasn't for the wedding and mum's trip, I would have booked something by now as we can go out of school hols so would be half price.... (we don't go expensive anyway.. EJ and SC apartment, and we budget whilst away.. dd is very good at it now...) I will continue to ponder....

PlymouthDad

Hi there. I have just spent this rainy day in the office reading your 9 pages. I too am hoping to start a DMP with Stepchange in fact I called them today and they reckon they could start it up for the 1st march.

Having read your diary I may now also ask for a delayed start to build up cash reserves. I am very nervous about it all because I dont have a default to my name yet and this will obviously all change soon.If I dont act now I will be in the same position in 5 years like you said you were when trying to snowball.

The only thing that surprised me was all the letters you have been sending as i though stepchange did everything. I will be keeping up to date with your diary if you dont mind, and maybe start my own. But like SS said I dont think I will keep up my diary and it'll fizzle out.

Thanks for keeping me entertained today and for the insentive your posts have provided me

Puzzcat

Hi PD, Lovely to meet you and no worries feel free to ask any questions. Have you been over to the dmp mutal support thread, I read the current one and the 2 previous one's over the summer last year and gained an awful lot of knowledge from it.


I too had a wonderful credit record before my dmp, but paying out £1400+ in debt repayment.. something had to give..


SC do send you a template letter to send out to your creditors, and I just adapted it and sent it each month with my token £1 to each. It really is worth delaying the start as once you have no access to credit an emergency fund is essential. I also needed some works doing to the car. I have been lucky as only 1 of my creditors is still charging interest and that is currently with the FOS, they are not one of my biggest one's thankfully.!!


Good Luck with your journey and welcome aboard the dmp ship... Please feel free to visit again and do pop over to the dmp thread.

PlymouthDad

Im currently on page 7 of 250 of part 7 of the thread! could be a long few weeks reading! but I want to be aremed with as much info as possible to face this.

I have a query as I want to contact sc again tonight or tomorrow to get things rolling, did you ask them to delay the start and were they fine with this? did you have to explain why?

one thing that does worry me is my telephone manner is awful!! I get nervous and flustered! haha

Puzzcat

Hi PD,


I did the debt remedy online and then held onto the pack when I received it and sent off my letters in my own time. Its having the SC ref number that's most important as you can quote it.


SC sent me a text after a couple of weeks and I rang them then. They did want to start making contact themselves but as I had the issue with the joint account I didn't want any other involvement until I was sure everything was closed and in the right place.


I just told them on the phone that I wanted it to start in November (This was sept) and just said I had some repairs to get done on the car. They were fine with that. It is your dmp at the end of the day, they are just a helping hand.


I would suggest adapting the letter, I can send you what I sent if that helps.. saying contact by writing only if you are unhappy with calls. Although at least 3 still rang and I did speak to them, I have the SC ref number on my calender in the kitchen all ready to quote. And if you do need to ring them for anything, maybe write down what you want to say first.


Hope that helps...
Puzz.

Puzzcat

First Letter I sent to all..


Your address



Account details


Date


Dear Sir/Madam


I am writing to inform you that I am currently seeking advice and assistance regarding my current financial difficulties.

I am working with StepChange to set up a Debt Management Plan (DMP) – my reference number is *******. They will send you an offer of payment along with a copy of my budget and list of creditors.


I am unable to meet my normal monthly payments, would you please accept a token payment of £1 per month until StepChange contact you with my DMP details. I would appreciate if you could hold any action on the above account until this time.


I would ask that you please consider stopping or reducing interest and any other charges on my account to help me during my financial difficulties and to avoid increasing my debts any further.



I would please note all future communication should be in writing only.


I thank you in anticipation of your assistance and co-operation whilst I am going through this difficult time, and assure you thatI am doing everything I can to resolve my current financial situation in a responsible and sustainable manner.

Yours faithfully

PlymouthDad

Thank Puzz, very helpful indeed. I already have that reference number so maybe I should cancel all my direct debits to cards now? bit scary. I'm going to have to change some of my details in the original plan though as i ran up extra debt in a moment of gambling panic(tuts and shakes head) do you think this will change my reference number? i wouldnt have thought so.

If you could send me the letter you sent I'd be most grateful. do you need my email address for that?

Sorry I dont mean to clog up your diary

Puzzcat

And second letter..


Address



AccountDetails


Date



DMP RefNumber - *******


Dear Sir/Madam



Further to my recent correspondence with you with regards to my financial difficulties.



I understand StepChange have now been in contact with you and my payment through them will be made on ******


I enclose a token payment of £1 to show that I have a commitment to pay and appreciate your assistance at this difficult time.


If you have not already done so I would ask that you please consider stopping or reducing interest and any other charges on my account to help me during my financial difficulties and to avoid increasing m ydebts any further.


I would please note all future communication should be in writing only.


I thank you in anticipation of your assistance and co-operation whilst I am going through this difficult time, and assure you thatI am doing everything I can to resolve my current financial situation in a responsible and sustainable manner.

Yours faithfully

PlymouthDad

Awesome, thank you very much. if i was a brave man i would cancel my direct debits right now. RIGHT NOW..... ha. but I'm dragging my feet. the loan is the scariest. for some reason it feels worse offering a token payment for a fixed contractual sum than it does on a credit card. (even tho that is a contractual sum of a minimum payment).

Puzzcat

Hi pd, no worries about visiting, I like guests!

You can probably copy and paste these letters into a word doc from here. If you have your new account set up assuming you need one and wages ready to go into new account, then you could cancel dd's and get your dmp ball rolling. I don't think your ref number would change, the debt figures will change anyway as the creditors love to add on charges and interest until set up, but there's not much at this stage you can do about that.
Some people then fight for these back but my debt is now going down so I'm not upsetting my applecart whilst they all play nice anyway!