DMP & Mutual Support Thread - Part 10

Monkeyballs

Hi E13,

Best advice I can give is to try to shake off the victim mindset and look at your debt as being a big ball of crud that needs to be scrubbed away

Your best option is to keep speaking to Step Change, have they actually kicked you off your DMP yet? If they have, there are other places who will help.

First thing to do is to get your DMP in order, maybe explaining to SC that you can only afford token payments for a while until you get your finances in order and an emergency fund put in place? Once you agree this with them then you have bought some time to BREATH

Set up a standing order for the payments each week/month (however you agree on it with SC) and forget about it.

As for your creditors, write to each of them explaining that you have a revised plan in place with SC and they will be in touch with an offer - I would prefer you called but if it's too expensive to do this then a letter is fine so long as YOU acknowledge that this is YOU taking control, not losing it

As for Barclaycard (I luuuurve good old BC lol, NOT) write to them too. If they persist in saying they don't accept it then let SC know, what they will likely do is continue with the plan and eventually BC will either fall in line or sell the debt to a DCA who will cooperate with SC.

Bottom line is don't panic, communicate, pay what you can afford and it will suss itself out in the end

Good luck!

MB of G x

stupid-fool

Hi All

I just realised that after getting some really good advice when I hit rick bottom, I haven't been on for quite a while so an update might help others.

My day of realisation was about 2 years ago and I started on the DMP route with Step Change (CCCS at the time) in October 2012. I still owe various creditors £49,000 but I've repaid £19,000 so far without resorting any borrowing a penny for 2 years.

We live month to month with no spare cash at the end of the month, but we survive and get nearer to being out of the chains of debt with each month that passes.

For anyone who finds themselves where I was 2 years ago, I just wanted to say that Step Change have been great - most creditors have also been very good (I'm only paying interest on a Lloyds Bank overdraft, everyone else has suspended) and apart from the odd scary letter or default notice its been smooth going. I think the key has been making my DMP payment every month and NEVER being tempted to borrow anything else.

There is now light at the end of my tunnel so all is not lost when you hit rock bottom.

ldhme

Been a few weeks so popping in for an update a a vent lol.

So overall I have had an easy ride into my DMP, I've had confirmation that
interest and charges are frozen on my MBNA card and Tesco loans have accepted my reduced payment. Heard nothing from HSBC but looking at my statements they have frozen interest and charges on my Credit card and even though they are charging interest on my overdraft, it gets refunded later in the month. So all that's good.

Just a few issues really.
HSBC Flexiloan is still having interest charged, they might be dealing with it the same way as my OD as it's essentially just a big OD, too early to tell.
Tesco credit card initially accepted repayment proposal and have frozen interest but are still charging late payment fees even though in their first letter they said these would stop once my account had been defaulted and terminated, which it hasn't yet.

Barclaycard are really starting to **** me off though, calling everyday, leaving between 3 and 5 messages on my voicemail, letters asking for balance to be paid etc, and to top it off they are charging me £10 more a month in interest and fees than they are receiving from me

Monkeyballs

Hi Idhme,

Glad to hear things are staring to fall into place

As for HSBC, I hear mixed stories on this forum about them... Someone with a debt with them may be able to offer better advice but if it was me I'd try calling them making a point to take the name and mention that you're noting down the discussion (date and time, memorable comments, etc) to show you mean business

Barclaycard, I luuuurve the Barclaycard! Call them and ask them to confirm that they have received details of your DMP. I had a similar problem and when I called they claimed to have not received notification and immediately froze the account pending contact from Step Change... I think they're a bunch of chancers basically who will seize upon any opportunity to add to your debt! Don't be rude, just state the facts and follow up with a call to SC if necessary.

Good luck!

MB of G x

Sazzie23

Monkeyballs wrote: »

Hi Idhme,

Glad to hear things are staring to fall into place

As for HSBC, I hear mixed stories on this forum about them... Someone with a debt with them may be able to offer better advice but if it was me I'd try calling them making a point to take the name and mention that you're noting down the discussion (date and time, memorable comments, etc) to show you mean business

Barclaycard, I luuuurve the Barclaycard! Call them and ask them to confirm that they have received details of your DMP. I had a similar problem and when I called they claimed to have not received notification and immediately froze the account pending contact from Step Change... I think they're a bunch of chancers basically who will seize upon any opportunity to add to your debt! Don't be rude, just state the facts and follow up with a call to SC if necessary.

Good luck!

MB of G x

Ooh MB I have so missed reading your great advice and no nonsense approach.

IDMHE - Regards Barclaycard, as I mentioned to someone else recently, took 3 goes before Barclays would admit they had my details from SC. Keep letting SC know and they will resend details, it's something to do with a 'portal' where the details get loaded.

Have you tried calling BC to let them know, I found they gave it a break for a while after each time I called them until we finally got it sorted. They still make me call every 6 months though to say it am still in DMP ...but whatever !


SF thanks for the update, you're doing amazing well, what a great motivator.

Monkeyballs

Thanks Sazzie, I missed you too!

Here is a photo of me during my last call with Barclaycard (hands free obviously);



As you can see, the lack of exercise is taking it's toll LOL

MB of G xxx

Sazzie23

:rotfl::beer:

Nellie1331

Thanks Ellieseleven for the welcome ,just wanted to say Barclays have sent 2 letters saying they are charging me 6.30 a day on each loan interest ,do I contact stepchange or do I send a letter direct to them asking them to freeze interest ? if so has anyone got a template freeze interest letter? thank you all for the support don't know what I would do without you xx

ldhme

Monkeyballs wrote: »

Hi Idhme,

Glad to hear things are staring to fall into place

As for HSBC, I hear mixed stories on this forum about them... Someone with a debt with them may be able to offer better advice but if it was me I'd try calling them making a point to take the name and mention that you're noting down the discussion (date and time, memorable comments, etc) to show you mean business

Barclaycard, I luuuurve the Barclaycard! Call them and ask them to confirm that they have received details of your DMP. I had a similar problem and when I called they claimed to have not received notification and immediately froze the account pending contact from Step Change... I think they're a bunch of chancers basically who will seize upon any opportunity to add to your debt! Don't be rude, just state the facts and follow up with a call to SC if necessary.

Good luck!

MB of G x

Perfect advice,
Called Barclaycard, INSTANT freeze on charges and interest and potentially a refund of what has been charged once Stepchange resend the details of the DMP. No more contact for 12 months apparently :j

Called Tesco CC, fee waived for next statement and they have started the process of moving the account to collections, so no more fees.

Called HSBC and Oh my god it ruined my mood completely. Person couldn't speak proper English, struggled to understand what I was asking etc.
Anyway, confirmed that CC interest has been "prohibited", OD interest is being refunded.
BUT, Flexi loan will continue to be charged full interest per month because it's a loan account, asked what would happen once the limit is reached (as interest is higher than repayment) and she couldn't answer.
Can't believe I banked with these people for 15 years!
Stepchange advised me to write to them so any advice on the letter or templates would be great.


Still, a good day, and 6 out of 7 accounts frozen is not bad for a DMP less than 2 months old lol.

Monkeyballs

Morning all!

Idhme, I'm happy to have been of service and it's good to see some progress being made so early in the morning!

I've never had any dealings with HSBC so can't advise much since I've no idea what a 'loan account' even is, surely it's just a loan? perhaps they mean the interest is front loaded and the balance already includes all interest due? Someone will be able to advise I'm sure...

I'm not sure which letter it would be, possibly just a generic complaint but you could try getting their customer service team on Twitter saying something like "I've received poor customer service today and need some help"?

MB of G x