Feeling so upset and deflated :(

mon1o

Hi everyone

Sorry this is going to be a depressing post. I have been on these boards for a while now, but havent posted in ages. Basically I started a dmp in april 2012. I checked today to update all my balances and see how things are going. Basically I have paid in nearly £5000 through my dmp towards my debt but some creditors have refused to stop interest/charges. I am getting calls daily from 2 lenders in particular wanting me to pay more. I have 5 defaults on my credit file.

When I checked my balances I found that despite having paid nearly £5k into my dmp because some lenders have continued charging interest it appears as though I have only paid just over £2k off (total in signature). I am trying so so hard to fix the problem and for what? its going to be forever before I get rid of this debt chain thats hanging around my neck. Ive been in tears all day and dont know what I can do to sort this. I feel so deflated. I know I caused this problem myself and this is the consequence but if the lenders dont stop the interest etc then theres no point struggling to sort the problem out is there?

Has anyone any advice on this? I'm so fed up.
M x

sleepygirl126

I totally understand your frustration:mad:

On the bright side...you are 2 grand less in debt and some of your creditors have frozen the interest which will help

Can you appeal to them, explain that you are striving hard to pay them off? All of my creditors have frozen the interest and I'm confused why some of yours haven't.

If you have defaults already, is it worth considering an IVA or a different debt management plan? Mine are all on default but because some of them are starting to be paid off, my credit rating is improving.

Can you wiggle the payments about and pay more to the rotten creditors that are charging interest and less to those that have frozen?

mon1o

Hi

thanks for your reply. I dont know why some havent frozen and some have. I think the defaults will be more of a help than a hindrance to be fair and the ones that have been passed to a DCA have been fine theyve just let me continue as per plan. I just need the rest to do the same.

My dmp is with stepchange. I plan to call them tomorrow to discuss this and see what they can advise. I'll take a look at some of the challenges on here and see if I can do anything to get the amount to decrease quicker.

sleepygirl126

I've found my dealings with the DCAs to be much better than with the actual companies....they are much more willing to help.
I've been paying 260 quid a month off....am down to just over 11,000 now which is still scary but I'm in control.
Try and squeeze as much as you can from your budget and pay what you can....consider a change pot, aim to have no spend days, try and cut your grocery budget....take a look at some of the frugal ideas on her....if you could put another £100 a month of the debts and work with stepchange to freeze them all then you'll see a huge difference

Carrie1983

Sorry to hear you feel so deflated. I don't have any advice as I am really new to this and to the forum, but just wanted to give you encouragement to keep chipping away xx

mon1o

Thankyou both of you.

sleepygirl - the DCAs have been fine. Its the actual lenders that have been difficult.

Carrie - thanks for your encouragement hope youre finding your way ok.

Im lucky to have a very supportive husband and hes said we will sort this somehow. I know my first step is to call stepchange tomorrow. Ill look at what challenges there are and revisit my budget to see where I can cut back even more. Apart from that I dont see what else I can do - and its that which is the most frustrating thing. I cant make them change their mind and I dont think stepchange can either. But I'm going to keep everything crossed. Simple fact is if the lenders choose to carry on charging interest etc, I will never be debt free (or at least thats what it feels like now).

Sorry for moaning on.

shopnomore

you're not moaning at all. Don't worry. Hugs to you. Let us know what step change say tomorrow.
It is tough going but you are making slow progress so look at it that way. You are not in any more debt then you started with and yes out of 5k in payments your balance has only reduced partially but it has reduced and if none of the creditors had stopped interest, you would be in loads more debt by now.
Some are just awkward.
Speak to Step change and keep your chin up. You will get through this eventually and you are already making headway.
xx

whitewing

Daily calls can't be helping. I have a feeling that you can request contact only by mail, perhaps some kind soul can advise the op on this?

I agree you are doing well. You are still chipping away at the debt and you are learning good habits to have a better future.

mon1o

to be honest its got to the point now where if I dont recognise the number I dont answer the phone. With these lenders (Barclays and vanquis) I may as well not be in a dmp - thats what it feels like. I have asked them not to call me (before I started ignoring the phone) but they havent taken a blind bit of notice.

I have started a diary on the DFD board and joined in the payment a day challenge. Its a start.

FreyaWillow

Big hugs to you xx I am new so I can't offer much advice I'm afraid. I am just about to start my DMP and have been afraid of the phone calls. I think that you can send them a letter to say contact only in writing or by email.

Puzzcat

Hi,
Have you written to your creditors requesting they stop interest? Have you made a complaint? Are you aware that you can complain to the fos? None of these tactics may work but worth a try. Pop over to the dmp mutual support thread, lots of info and advice that may help.
Good luck.
Puzz.