Dreaded DMP review time

lisa701

Looking back I only wish we had pressed ahead and gone with the secured loan from our bank. If we had the repayments would have been low enough for us to have continued to repay it, so we would not have had to consider a DMP.

Even now I would still consider if it if someone would give us one (I'm not saying I definately would but I would consider it as a possible option). If the repayments were still around the same as what they suggested all those years ago we would still be paying less than what we pay on the DMP. Plus it means I wouldnt be terrified each time the postman arrived or phone rang.

Tixy

I would imagine that the reason they haven't suggested an IVA is because you can't afford to pay enough a month for it to be likely to be accepted by your creditors (especially if your DMP is predicted to last 30years, that sounds like you are probably paying no more than £100 a month towards the DMP).

Whilst they don't generally suggest a DMP for a long term option it is difficult if a person won't be able to do an IVA but owns property.

To be homeless and still in debt is not a nice prospect.

If you would still be left with debt even after selling (at whatever it would sell for) then that doesn't sound like the right option, handing back the keys and considering bankruptcy might be more suitable than selling and still having debt. But obviously that is a very big step. It is scary but I would talk it through with them this time as to whether it might be an option for you.

I guess you really need to talk in detail with stepchange when you have your review and ask them what other options you do have.

There certainly are people on here who have done, or are doing DMPs lasting over 20years, but these are unusual. Do you not expect any changes in your circumstances in the future that would be likely to bring down your DMP timescale such as expected increasesi in salaries or potential for second incomes or reducing costs (e.g. for people with children they often know their childcare costs will drop in the future or similar).

lisa701

Only wish things would change for the better but realistically I don't see that happening any time soon. The nature of our jobs mean we are either low paid or in & out of work.

We both have done 2nd jobs but the work is getting few and far between especially as we are both so restricted due to the hours we do in our full time roles.

I did look into to just handing the keys back a few years but it was terrifying so I just stuck at the DMP. I saw it as a last resort should the time come when everyone starts getting a bit more demanding. One thing that really stuck out was that no landlords around here would accept us for rented accommodation so that would mean moving some distance from work and family - another reason it scared me so much.

Lensman_2

You have the right to check that the amounts demanded are correct and that the people demanding them are legally entitled to do so.

If you haven't checked these facts then I think you should look in to how you can do this and what the implications might be. (I doubt Stepchange will help here, but I don't know).

You should also check your credit file to see what is on there (Noddle is free).

lisa701

My problem is who do I contact. Right from the start I've tried contacting various telephone numbers for Barclays but each time no one seems to know who I need to speak to. They ask for account numbers, which I provide, but since its on a DMP those numbers appear to be no longer valid. I go around the houses several times and still don't seem to get anyone who knows what department I need to speak to.

SC gave me a telephone number and account numbers a few years ago which I assumed would be correct, but Barclays don't recognise them so I'm still none the wiser.

I've checked my credit report but it still doesnt really tell me anymore than I already know. Don't know how up to date the figures they show are so its still only approximate.

Tixy

If you want to find out details of the debts and the current balances then you need to write to the creditors not phone.

If they haven't sent you recent statements then write and ask for an up to date statement showing all transactions since you entered the DMP.

Or you may wish to write for a copy of the consumer credit agreement (for those debts that have a CCA). See here for details and a template - https://www.nationaldebtline.org/EW/factsheets/Pages/39%20EW%20Credit%20agreements%20-%20getting%20information/Default.aspx
If they couldn't supply them then they cannot enforce the debt until they do (which means you could ask stepchange to cease payments to that particular account).

Toomuchdebt

I actually don't know what to suggest except if your work is so sporadic would it not be worth taking any old job as long as it's full time and permanent? It sounds like even working at Tesco 40 hours a week would be bringing in more money than you have right now unless the times you do work you get £30 a hour or something.

Toomuchdebt

Also is your interest frozen on your debts?How much do you owe?I found a self managed DMP much better than stepchange.I got all the interest frozen and charges refunded too.They also accepted my payments straight away and the beauty of a self managed DMP is I can snowball the debts and pay extra towards them when I have it.Perhaps you should find out the exact balances and interest rates on the debts and post up an SOA?

lisa701

Toomuchdebt wrote: »

I actually don't know what to suggest except if your work is so sporadic would it not be worth taking any old job as long as it's full time and permanent? It sounds like even working at Tesco 40 hours a week would be bringing in more money than you have right now unless the times you do work you get £30 a hour or something.

We both work full time, but that doesnt mean we earn lots of money. By the time we have paid mortgage, utility bills, council tax etc. there isnt enough to make the full repayments each month.

Sadly there isnt an abundance of well paid, permenant work where I live. Majority is low paid and often temporary. Even the likes of Tesco, Asda etc. are not taking on staff and havent done for several years.

When I say we have been in and out of work thats just how it is around here. You do your best but sadly companies close so its a case of taking on short term jobs until something better comes along - and thats only until that place decides to close.

lisa701

Tixy wrote: »

If you want to find out details of the debts and the current balances then you need to write to the creditors not phone.

If they haven't sent you recent statements then write and ask for an up to date statement showing all transactions since you entered the DMP.

Or you may wish to write for a copy of the consumer credit agreement (for those debts that have a CCA). See here for details and a template - https://www.nationaldebtline.org/EW/factsheets/Pages/39%20EW%20Credit%20agreements%20-%20getting%20information/Default.aspx
If they couldn't supply them then they cannot enforce the debt until they do (which means you could ask stepchange to cease payments to that particular account).

SC told me to call them and gave me telephone numbers, but when I called them the people there didnt have a clue. It appears my debts have been passed from department to department and no one seems to know who to talk to.

If I had an address I would write to them, but all I have is my local branch details, and having already been in contact with them they say the accounts have been passed to their debt managment department - the same number SC gave me but they didnt have a clue.