DMP & Mutual Support Thread - Part 10

spiffyiffy

Puzzcat wrote: »

Congratulations on your new arrival. And yes in answer to your letters and token payments either by cheque or postal order..Do you have a reference number from sc you can include as well.

Thanks.


Yes I do have a reference number from step change so I'll include that in my letters as well. On page 80 (seems like long a go) there was a template letter so I'll use that.

lewpster

Well I've done it - I am up and running with 1st payment to go out 10th November eek! How do I make token payments? I don't get statements so not sure how i make a payment as I said I would send £5?

I read on another thread I should not log in and do online?

Growurown

spiffyiffy wrote: »

Now for the craziness of the 8 days, last Wednesday my wife had a baby boy! Going t be a crazy time but will enjoy it all the way through! I'll have to add that in the new DMP as well soon!


Thanks

Many congratulations spiffyiffy. Did you tell us your wife was expecting? I can't remember but if I'd have known we could have had a guess the weight of the baby competition.:rotfl:

lewpylew wrote: »

Well I've done it - I am up and running with 1st payment to go out 10th November eek! How do I make token payments? I don't get statements so not sure how i make a payment as I said I would send £5?

I read on another thread I should not log in and do online?

I made my token payments in cash over the counter of the bank using the counterfoils on the bottom of the statement/bill. You can send postal orders as you don't have statements, but I think this is an expensive way of doing it. You could also send a cheque if you have your new bank account up and running.


I'm not sure why posters would say not to make an online payment. Are they worried that your creditors could use the information to raid your account?

spiffyiffy

Growurown wrote: »

Many congratulations spiffyiffy. Did you tell us your wife was expecting? I can't remember but if I'd have known we could have had a guess the weight of the baby competition.

Thanks! No I didn't mention it but would of been a god laugh with the guess the weight which you can still do


I also want to add to the way of making token payments. So I could easily use my cheque book from my new account to pay my £1.00 token payments? Should I send these cheques by recorded post to make sure they got the cheque?

Brogden

Growurown wrote: »

I'm not sure why posters would say not to make an online payment. Are they worried that your creditors could use the information to raid your account?

I'm not sure either I even feel safe to pay PDL's online by faster payment and nothing's ever happened to me (famous last words - where's me shopping money gone? :rotfl:)

Postal orders are a nightmare

Brogden x

moneypit2014

spiffyiffy wrote: »

Now for the craziness of the 8 days, last Wednesday my wife had a baby boy! Going t be a crazy time but will enjoy it all the way through! I'll have to add that in the new DMP as well soon!

Oh wow! congratulations!

No idea on the token payment thing, we didn't make any as we were up to date with our payments.

With regards to F&F's I completely understand about treating all our creditors the same. BUT our smallest debt is only £130 and hubby could quite easily earn this in bonuses and/or overtime in one month (which can't be included in the DMP as it isn't guaranteed). For example if we had £130, I couldn't pay that off the debt that it would clear completely, I'd have to offer payment to each of my creditors based on the percentage of the debt owed. No one would accept that offer as F&F. We'd still have 16 creditors and it wouldn't free up the seemly unfair £5 minium payment being made to a creditor who is only owed £130. I'd agree if the debt wiped out was substantial the other creditors might get grumpy that another debt was favoured over theirs, but this isn't. I believe it all depends on the individual circumstances.

Aloofdragon

Oh my word what a busy few hours on here now I am completely baffled where to start .


I have read so many similar situations and personalities of my own and hubbys and haven't a clue which is the best/easiest/sanest route to go...


I for one want my debts gone yesterday and will put every last penny I have into them, I am quite used to going without and don't smoke or drink so spare cash doesn't really bother me as long as I got a few quid a month to cloth my son and he has what he needs I am relatively happy, hubby on the other hand is calm and just wants to take our time wait and see what PP can do for us in a DMP and then if that's not right for us to pay minimums on most and concentrate on 1 card/debt at a time. I can see this causing ructions in our house to be honest.


Thanks for all the fab info on playing fair with all debtors at all times that was really useful, and congrats to the proud parents.


Has anyone any advice on how to approach BARC as we have now changed banks and our overdraft and loan is sat there by the time our loan comes out on the 18th it will hit Overdraft limit so it needs to be sorted now really but I really don't want to ring them.. Yes I am A chicken ... Only other debtor we aren't in contact with is Marisota I have tried in the past with these to arrange a payment plan but within a month they had sent a letter demanding another payment plus £12 costs for the joy of sending it, so we gave up.

Growurown

spiffyiffy wrote: »

Thanks! No I didn't mention it but would of been a god laugh with the guess the weight which you can still do

OK I'm going for 7 pounds 10 ounces. Sorry don't do the kilos thing! Don't ask Sir MB of G for a prize though, because it will come in the form of bananas or Haribo:rotfl:

spiffyiffy wrote: »

I also want to add to the way of making token payments. So I could easily use my cheque book from my new account to pay my £1.00 token payments? Should I send these cheques by recorded post to make sure they got the cheque?

Yes of course, the creditors don't care. I think the postal orders thing came up because a lot of people didn't have a new bank account sorted in time. If you'd feel happier sending recorded post then go for it.

Some people are very reluctant to give out their new bank details. Can anyone cite an incidence where creditors have taken money from their account just on the basis of knowing their account number and sort code? After all this information is printed on cheques that anyone can look at. Mind you it did happen to Jeremy Clarkson:rotfl:

Monkeyballs

Hi all

Hey Spiffy, congratulations on the sprog! I don't really know how much babies weigh so would my guess of about a stone and a half be too much?

As for sending token payments, keep it as cheap as possible I'd go for a cheque sent 2nd class or (if you have a plan in place with your DMP provider) ask if you can make the payment to them to distribute

Aloof, in the early days you will rack up a little more debt... Personally, I would bite the bullet and tell them that you are entering into a DMP and they should (hopefully) freeze your accounts for 30 days until they receive details from Payplan at which point they can make the decision to keep the interest and charges frozen or reduce them I know it's a bit intimidating but once you've spoken to a couple of creditors then you'll laugh at how scared you'd been in the past As for Marisota, I can't really advise but they'll receive their offered payment each month and they can like it or lump it! You may get a few charges which will need to be added to your debt but eventually they'll either fall in line an play ball or sell your debt (which is preferable really) - if they continue to muck you about then you have the option of making a complaint to them and following up with the FOS

MB of G x

DJP_2

Don't know if i'm posting this in the right area but apologies if not.

Do DMP companies or debt charities that help you out check on if your income increases or if you have more disposable income to pay towards your debts at any stage or do they just help to reduce the payments you have to make and leave it there ?

Somebody i know seems to be under the impression that because their monthly payments have dramatically reduced they can now afford new kitchens , holidays and allsorts .... I'm sure this cannot be right can it ?

Thanks in advance.