DMP & Mutual Support Thread - Part 10

Growurown

Hello all. This isn't strictly related to DMP's but hoping that as you are all my mates you won't shout at me. I am just venturing into making some money by selling stuff on Ebay and just set up a paypal account. Now on the blurb on the paypal website it said the money could be in my bank account within two hours. My mate says it takes four days. What's your experience of this? I know a lot of DMPers make a little extra by selling on ebay etc. so thought I'd ask the experts:)

Time_to_face_the_music

Growurown wrote: »

Hello all. This isn't strictly related to DMP's but hoping that as you are all my mates you won't shout at me. I am just venturing into making some money by selling stuff on Ebay and just set up a paypal account. Now on the blurb on the paypal website it said the money could be in my bank account within two hours. My mate says it takes four days. What's your experience of this? I know a lot of DMPers make a little extra by selling on ebay etc. so thought I'd ask the experts:)

It's usually 2 hours for me but I think at first they hold on to some of your Paypal funds until they can see you are shipping items, getting feedback etc. I think they also limit the number of items you can sell and the total value for the first few weeks.

Good luck with the sales GUO, I have just sold a big piece of junk that Mr TTFTM bought at a car boot sale years ago and has been taking up space ever since :j

Edited to say just found a bit more info:
For Paypal:

"While you establish your selling track record, buyer payments may be delayed. These funds will generally be available once:

• It's been 90 days or less from your first sale on eBay.co.uk
• You've had 25 or fewer sales on eBay.co.uk
• You've had £165 or less in total sales since your first sale on eBay.co.uk"

For ebay:
"If you're a new seller, we place some restrictions on what, and how much you can sell. Once you've been a seller for over 90 days, have a proven track record of providing great customer service and following eBay rules and policies, these limits will be removed from your account. Since the limits are removed automatically, you don't need to do anything else. More information on Seller Limits.

You can also check your Seller Dashboard in your My eBay to see how you are performing, as well as which areas you need to improve."


TTFTM x

Coinmachine

Hi all, I mentioned a few weeks back issues with Barclaycard following my having to reduce my dmp payment. I have now heard from them and they have stated that the reduced payment is not enough to be accepted as a formal payment arrangement instead they have made it a non-formal plan. What does this mean? Wherad before I was still paying interest they have now reduced it to zero and have said I will still get arrears letters but to ignore them. I thought a dmp was informal anyway so not sure what this all means?

Bettingmad

Coinmachine wrote: »

Hi all, I mentioned a few weeks back issues with Barclaycard following my having to reduce my dmp payment. I have now heard from them and they have stated that the reduced payment is not enough to be accepted as a formal payment arrangement instead they have made it a non-formal plan. What does this mean? Wherad before I was still paying interest they have now reduced it to zero and have said I will still get arrears letters but to ignore them. I thought a dmp was informal anyway so not sure what this all means?

Barclays games I'm afraid. You are probably paying below their trigger figure where they set interest at 0%. It's good news for you though.

Barclays have more tricks up their sleeve than David Blaine when trying to recover their money.
Relax it means nothing at all just a play on words.

Bagley1980

Morning,

Sent off my letters last night to offer token payments, freeze interest and let them know my intentions with stepchange. I spoke with stepchange on Tuesday night who were pushing me to start paying straight away. I'm going to hold it off for a little while though just to get my emergency funds together.

Regarding cable tv etc. has anyone thought of NOW TV? We got rid of our virgin tv subscription in favour of this. It does have its limitations but the movie package is half what you pay via virgin or sky. Argos are selling the boxes at half price at the moment. They are usually £24.99 for a box and 4 month subscription but are £12.50 at the moment. We brought one for upstairs on Monday and now don't have to pay for movies until end of January.

We also had our landline taken out saving line rental each month.

Kate_fixing_it

Bettingmad is spot on. If your payment is below 1% of the balance you pay no interest. Hop over that and they add interest. Then they change their rules sometimes too. Monkeyballs had a real fight with them at the beginning of this thread over this. That said they've been one of my better creditors, they send regular statements, never actually called me and accepted the plan immediately. I even have one letter that reads as them apologising for blocking the card until I'm back on track!

PayPal is really fast for me Growurown. I click transfer on the app and by the time I've opened my bank app it's there! As a TTFTM says as a new user they'll freeze the funds to begin with until your buyer has left feedback or it's been 20 days (I think). It used to release sooner if the items were sent signed for and the tracking number was put in but I'm not sure if that's still the case. I'd still advise sending signed for to protect yourself. A buyer can't claim non-receipt if you have a signature and sadly many do. They have some great help pages and a forum for discussion too (their customer service team isn't the best) but it's not as friendly and huggy as we are Good luck!

Kate x

Coinmachine

Thanks both, I hope its nothing to worry about and yes because the interest has dropped to zero even though I am paying less I am paying more off the balance this way.

Startingover14

I have now sent up my basic bank account and it's all active. Work have said can't change salary direction until September so just need to work to that date. But the bank account feels like a big step forward for me. Now for letters to be posted to creditors.

Growurown

Thanks for the replies regarding my Paypal enquiries. I did wonder if it was a case of the banks hanging onto my money to make a few extra pennies on the interest before they give it back to me. I am very suspicious of banks and their workings.

I think I have a lot to learn about ebaying and need to do some research! I have so much stuff to sell and get rid of. In the old days it would just go to a charity shop or in the bin but I need to be more proactive and get my a*se into gear.:D

Karen777

great progress everyone - been offline for a few days and loads of catch up reading! It's inspiring and comforting that we are all making progress. My happy thing for the day is that I have had all my statements for this month and my debt is now in the 13s (thousands) which feels like a very good milestone to have reached... now just got to stretch my remaining pennies til payday (just over a week) and I'll be ok! *scampers off to amend signature*