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DMP & Mutual Support Thread - Part 10
Comments
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Time_to_face_the_music wrote: »I did the review with SC before going self managed too but then didn't like their figures and moved across to NED CAB DMP. The amounts I presented to our creditors were very different to SC's but no-one seemed in the least bit bothered.
I really think you are making the correct move GUO :T
TTFTM x
Have you found self managing your DMP better ? I am thinking of doing that too x0 -
I've found self managing the debts to be fine and quicker than getting started with SC. The hardest part is steeling yourself to ring each one to have the 'I'm in financial difficulty' conversation. After speaking to all mine they all froze interest and charges from the month following my call and I have not had any problems yet.
All the best TFA.Feb 2014 to now
Unsecured debt at highest £56,511/now £9,328 83% paid.
Mortgage £85,342/now £28,846 66% paid
2018 overpayment total - £5,500
Mortgage and debt free by August 20200 -
timeforaction wrote: »Have you found self managing your DMP better ? I am thinking of doing that too x
The easy answer is yes for me but it's not for everyone. I wish I had known we could self manage at the start but when I came here, I did not even know what a DMP was!
You get much better control and can adjust/drop/stop payments to individual creditors if they won't play nicely. I also loved regaining the control, paying who I wanted/when I wanted. Plus because we had been with Stepchange (then CCCS) for a few months, going self managed immediately put us a month ahead as no-one was holding onto our payment for 25 days. I also managed to get interest stopped that Stepchange couldn't.
On the downside you do have to deal with everyone yourself and have no back up of the middleman of Stepchange etc. You need to feel confident enough to do that and to be organised with making your payments and keeping an accurate record of exactly what is going on with each creditor.
19 years is a very long time for a DMP, recent guidelines state it should not be over 10 years. Is there a reason why you are not looking at an IVA?
TTFTM xLBM 10/1/12 ~ DFW Start 6/2/12: £82,344 ~ Now Zero:staradmin:starmod::staradmin Debt free 17th April 2015 :staradmin:starmod::staradmin
Eternal thanks to the DMP & Mutual Support (no.439) and Payment a Day ThreadsMortgage free 3rd July 2014 - Grateful thanks to the 2013/14 MFW threads"Debt is normal. Be weird!" Dave RamseyProud to have dealt with our debt0 -
timeforaction wrote: »Stepchange pack came today , just had a quick look 19 years its going to take to repay eeekkk
Ours is 14 years 7 months, scary but true! I'm hoping to pay it sooner.Making £1,000 plus every month from home :T0 -
Ellieseleven wrote: »Just had to pop by to say WE ARE NOW UNDER 20K:j it's still a lot but we've paid off £26,016 so far and £19,956 to go looks and feels so much better!!!
For anyone starting out, keep at it, the time does pass by quickly and debt-busting is a great feeling
Take care
Ellie xx
Wow well doneMaking £1,000 plus every month from home :T0 -
Good Afternoon Lovely Peeps,
I recently sent two complaint letters to BOS card and Hellifax Loan to complain about the continuation of charging me interest and putting me into further financial difficulty. I expressed that I wanted everything in writing and gave them 8 weeks to respond. They keep phoning (I'm not picking up). I have also emailed them to keep it all in writing (which bit don't they understand).
Today (normally get a default on a Saturday) I got a letter from them saying that the only way to resolve this is to talk. Shall I send a further email or wait 8 weeks and just pass it over to the FOS.
In other news, got my liver results today, they can't tell for sure if all the lesions are benign therefore I am going to have to have a biopsy :eek:
I lead a healthy lifestyle, don't drink etc, just shows that the experts aren't always right! I wish they had sent me the results after the weekend as I'm going to ponder (not going to Google).
Fuzzy I would be far to curious to know what the creditors were going to say and would speak to them and then get what was said in writing..I can't stand waiting around....!
Still got my fingers crossed for your health issues. XxxChristmas 2020 £109
I love my dmp started in Nov 13 with SC. Self Managed 2016 57% done
£60062/25384.84 - 13222.60k UE
MY DIARY http://forums.moneysavingexpert.com/showthread.php?t=47686850 -
timeforaction wrote: »Have you found self managing your DMP better ? I am thinking of doing that too x
May be better to get everything settled and then think self managed, get those debts going down....xChristmas 2020 £109
I love my dmp started in Nov 13 with SC. Self Managed 2016 57% done
£60062/25384.84 - 13222.60k UE
MY DIARY http://forums.moneysavingexpert.com/showthread.php?t=47686850 -
Ellieseleven wrote: »Just had to pop by to say WE ARE NOW UNDER 20K:j it's still a lot but we've paid off £26,016 so far and £19,956 to go looks and feels so much better!!!
For anyone starting out, keep at it, the time does pass by quickly and debt-busting is a great feeling
Take care
Ellie xx
:T Well done Ellie, you are doing so well, I'm a little bit jealous! XxxxChristmas 2020 £109
I love my dmp started in Nov 13 with SC. Self Managed 2016 57% done
£60062/25384.84 - 13222.60k UE
MY DIARY http://forums.moneysavingexpert.com/showthread.php?t=47686850 -
major spanner in the works with regards to my dmp (self managed). fine of 1100 that has become a ccj, overpayment of 4000£ odd to working tax credit that im trying to come to an agreement on, partners business looks like its going bump (not sure if this is a bad thing or not as its been so shaky) and I'm struggling to pay bills/ juggle finances/ sleep or hold a conversation without snapping with the worry of it all.
partner cant see why I stress and analyse things all the time - hes the sort that can compartmentalise his life into neat little boxes - complete opposites!
just cannot see the way forward with all of this at the moment (want to curl up under the covers and stay there).0 -
major spanner in the works with regards to my dmp (self managed). fine of 1100 that has become a ccj, overpayment of 4000£ odd to working tax credit that im trying to come to an agreement on, partners business looks like its going bump (not sure if this is a bad thing or not as its been so shaky) and I'm struggling to pay bills/ juggle finances/ sleep or hold a conversation without snapping with the worry of it all.
partner cant see why I stress and analyse things all the time - hes the sort that can compartmentalise his life into neat little boxes - complete opposites!
just cannot see the way forward with all of this at the moment (want to curl up under the covers and stay there).
Hi catandy :hello:
Have you made your DMP payments already this month? If not, drop to token payments of £1 per creditor and write to tell them this is a temporary situation and will be resolved in xxx months.
From other posts you have made recently on other threads, it looks like you have a lot going on at the moment but none of it is of your making. I do hope you manage to get this sorted out and are able to make and difficult decisions you need to make to take this forward. We are here for all kinds of support, not just DMP so please sound off if you need to and we will listen and try to help.
TTFTM xLBM 10/1/12 ~ DFW Start 6/2/12: £82,344 ~ Now Zero:staradmin:starmod::staradmin Debt free 17th April 2015 :staradmin:starmod::staradmin
Eternal thanks to the DMP & Mutual Support (no.439) and Payment a Day ThreadsMortgage free 3rd July 2014 - Grateful thanks to the 2013/14 MFW threads"Debt is normal. Be weird!" Dave RamseyProud to have dealt with our debt0
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