Advice about creditors and DMPs

Time_to_sort_it_out

Hi there

I'm new to this and would like some advice. Over the past 5 years I have built up a debt of about £42k and now have started to look at entering a DMP with step change. My worries are about my creditors.

I have a personal loan with nationwide of about £14000. Does any one have any experience on them and how they respond to dmp as what I have read is not great! I really don't want to end up with a ccj etc.

I also have 2 credit cards with sygma bank (asda) about £7000 total - again anyone had experience with them!?

I also have credit cards with Halifax and barclaycard. I have one other personal loan with sainsburys.

I really want to know what peoples experience is with these companies and if they accepted quickly of court etc.

Any help/experience would put my mind at rest.

Thanks

fatbelly

I wouldn't expect problems with any of them. Halifax have gone downhill since they merged into Lloyds so expect some general incompetence there. Others should be organised and accept the Stepchange dmp.

Court action is always a possibility but not one you can influence, so cross that bridge if/when you come to it.

Kate_fixing_it

I have debt with sygma/asda and I've found them to be the easiest to appease.

I've had one automated letter which was worded really well and included contact details for step change, payplan, national debtline and CAB and received one call. The caller was lovely (I was shocked too ) she put the account on hold, took my SC reference and wished me luck. They are my largest single debt at under 3k. No idea how I managed to get that credit limit (or hit it well i do know - ostrich syndrome and bad money management but I'm changing that) but they seem very reasonable and understanding.

I also have a barclaycard debt whom I haven't heard from yet. From experiences here they seem to be more difficult to deal with but you will get plenty of advice here on how to tackle them.

There is a DMP support thread which might help you get an idea of what is to come.

Kate x

heatherks

s Barclaycard were one of my worst creditors to deal with also reluctant to stop interest if you pay them anything over 1% of the balance on your account

Learning2Budget

Good luck with your journey. We have debts with Barclaycard and they have never defaulted us despite the debt being nearly 6 years old. They also kept adding interest.
Halifax on the other hand were fab.
L2B.x

National_Debtline

Hello there,

I have heard of very few issues with Nationwide when it comes to reduced payments and/or DMPs. I'm sure they'll be accommodating. There are rules and guidelines all creditors need to follow when they deal with a customer who has financial difficulties. If any of your creditors are unhelpful, do let us know here on MSE as we'll be able to discuss what options you have.

All the vesy best with the DMP!

David @natdebtline