DMP & Mutual Support Thread - Part 10

sunnyskies2

Suseka wrote: »

:T

In fact I get so much more satisfaction sticking to my planned (small) spending budget and i no longer feel the need to validate my life with material things.

..here, here (well I'm very very nearlly there lol

Karen777

Growurown wrote: »

Evening DMPers:wave:

Well finally got OH to call his creditors and he authorised them to speak to me because basically when it comes to our finances he doesn't know which way is up.:rotfl:

Tackled the hellish Halifax first. Turns out that our payments through Step Change way exceeded the minimum monthly payment due on the CC. So they have refused to implement the DMP with us again saying that as we were able to pay double the minimum payment required we weren't in financial hardship. Currently they reckon on a balance of just over £2,500 the minimum payment each month is £45 and we were paying £90 through Step Change. They would however implement the plan if we paid less than the minimum. I don't really want to do this either because at that rate we will be paying forever and we will still be paying interest albeit at a reduced rate.

So currently my thinking is to throw everything at the Halifax and get it paid off asap. With the money I was already paying them and the money freed up by the Nat West loan finishing, I reckon I can clear the balance in 8 payments.

Funny thing though, the balance on my Halifax CC is now £290 but they were happy to keep that account in the DMP. Even offered me a F&F payment of £260. I'm still thinking about that one;)

I have exactly the same problem with Halifax. Because their minimum payments are set low and payplan pro rata'd my payments then they were getting more than the required minimum - not by much but still - and then when I went self managed they refuse to accept I am experiencing hardship so continue to charge me £45 a month interest (despite having frozen interest and charges on my overdraft with them - go figure!) I have got nowhere with them, am scared to pay less than the minimum as they will apply charges so am just lobbing everything I can at them to make them go away. Sadly this will take some time and in the meantime they are getting interest off me every month. I have just paid off a Halifax loan which was a much smaller amount so the extra from that is now going to Halifax. They drive me nuts.

Karen777

Also thanks all for the suggestions and inspiration about treats and charity shops. I was having a really down day yesterday and am feeling a bit more positive today. Have got to do some grocery shopping later so going to build in a small treat there... I wouldn't go back to how I was for anything, I know I'm making progress and sometimes I think it's just more a slog and less a sprint kind of feeling! Thank you all.

Growurown

Karen777 wrote: »

I have exactly the same problem with Halifax. Because their minimum payments are set low and payplan pro rata'd my payments then they were getting more than the required minimum - not by much but still - and then when I went self managed they refuse to accept I am experiencing hardship so continue to charge me £45 a month interest (despite having frozen interest and charges on my overdraft with them - go figure!) I have got nowhere with them, am scared to pay less than the minimum as they will apply charges so am just lobbing everything I can at them to make them go away. Sadly this will take some time and in the meantime they are getting interest off me every month. I have just paid off a Halifax loan which was a much smaller amount so the extra from that is now going to Halifax. They drive me nuts.

Ha ha yes they'll do that alright! I think the bloke I spoke to on the phone was not quite truthful. He said that when we were with SC our payments were less than the minimum so they reduced interest. So how come the minimum has dropped to £45 all of a sudden when last month we paid them £90 and that was supposed to be less than the minimum. I don't think so. I'm going to be doing the same as you Karen, paying them every spare penny to get rid of them asap.

City1

Hi,

Was looking for some advice. Next have refused to accept our offer, they are wanting £200 extra per month, all other creditors have been cooperative.

Now what?

Regards

in_a_noodle

City1 wrote: »

Hi,

Was looking for some advice. Next have refused to accept our offer, they are wanting £200 extra per month, all other creditors have been cooperative.

Now what?

Regards

Here's a sample letter from National Debtline that seems appropriate, either way I'd continue making the payment you've offered.

edit, I cant post links, but it's the first link if you google "national debtline reconsider pro rata letter"

City1

I say all have been cooperative, HSBC have not.

jubilee14

Hopelessly_Hopeful wrote: »

Morning All


I have completed my DMP this morning.


https://forums.moneysavingexpert.com/discussion/291326


Thank you so much for your support I couldn't have done it without it. I will be sticking around to help support those who are waiting to cross the finish line.


HHx

Hurray HH have been off line most of the week so missed the news fantastic well deserved but dont leave us your advice and support has been much needed and appreciated.

Hope you celebrate in MS style :beer:

sunnyskies2

City1 wrote: »

Hi,

Was looking for some advice. Next have refused to accept our offer, they are wanting £200 extra per month, all other creditors have been cooperative.

Now what?

Regards

Sorry, I'm unable to offer any advice as so far, luckily, I havn't had this problem.

sunnyskies2

Morning everyone:)

I know it's Default Saturday.. but I forgot to mention I got my first definite Default Notice yesterday from Santander, I think I may have received a couple of others but they don't look so official as this so I keep thinking they are threats and not the real thing.. so desperate for them... but this one is definitely the real thing :T

Sarah x