DMP & Mutual Support Thread - Part 10

igaveupnowimback

Called StepChange, called creditor, both very helpful. Cannot believe the difference having support on here and via SC makes, doesn't solve it all but it certainly means a lot having the support there. Thanks.

maganan

dad2one wrote: »

Well, my lad has just started Uni, so there is a strange calm in the house these days.....
An interesting point actually, as he is living away on campus, this I'm guessing is a circumstantial change that I ought to let SC know about.
Not that it changes anything financially for me really. He is still home at non term times, and indeed at the odd weekend - so technically, I'd say he's still more or less living with me.
I don't want to rock the boat with the accepted DMP amounts, and rather not have to redo a SOA again.
I guess I'll inform SC but tell them it doesn't affect my ins and outs.

I wouldn't worry when mine were at Uni I told sc they were there on on the review they were just recorded as supporting older children at Uni so no problem at all

Good luck

Kate

dad2one

till32 wrote: »

hello everyone,


I have finally decided to turn to a dmp as a way of ending my sleepless nights and constant worry. I am going through a divorce and had to rehome myself and kids and ran up debts that I am struggling to repay, I haven't defaulted or missed any payments yet but I am living hand to mouth and using constant payday loans to survive each month.


Once my divorce is settled I will have a disposable amount to pay for 60% of my debts with so there is light at the end of the tunnel but I don' think that will be for about 12 months, hence my decision to go down the dmp route with step change who have been very helpful I must add.


I will be sending back the application pack with all the documents required tomorrow and intend to start cancelling direct debits. I feel like a massive weight has been lifted already. Step change say I will have £99 spare each month to repay debts and I have to split this between 7 creditors.


So what can I expect to start happening? Will I start receiving nasty letters? are there any particular companies that are worse than others?

A few days or a week will pass after the direct debits don't go through, then you may get a couple of phone calls, or more likely letters pointing that out and asking what's wrong.
Send token payments with covering letters explaining your situation and your arrangement with StepChange - and that they will hear from them and should communicate with them. My experience is that creditors are a lot happier once they hear from you directly confirming the situation.
You get a lot of standard computerised mail outs - I still do. Letters updating what you owe accompanied by scary sounding small print. (like talk about further action).
All things being well your payment plan will be begrudgingly accepted, though they won't necessarily inform you directly of this.
Each debt goes through standard legal notifications to you - notice of arrears, final demands, then eventually notice of default.
As already said keep in touch with StepChange and keep in touch here. All questions get answered and answered well, in my experience.
In it together, as someone once said
Onwards and upwards!

so_very_confused

GrinC wrote: »

Please can I ask catalogue DMP advice? The catalogues have accepted the payplan arrangements but based on 28 days rather than monthly. Should I try to make an extra payment to them so I'm always in advance? What will happen if the payments default because they'll be a few days late every month?

I read somewhere that it's better sometimes for people to default with creditors so the debt gets passed on quicker. Does this sound right?

Hi GrinC. I have a similar problem. I initially paid an extra payment to keep the account in order this not such a problem as it was for a small amount, however I note that they have just included this as an additional payment and therefore I am not ahead! My tack now is to ignore this as the company are aware a dmp is in place and have stopped all interest so I'm inclined to see if they honour the dmp and do not apply late payment charges. If charges are applied I will challenge this with the company as they are effectively seeking preferential treatment over other creditors.
Unsure how helpful this is but thought I would share my experience and thoughts.

igaveupnowimback

I know that's not DMP, but am thinking if I try reclaim and have any success I may be able to reduce debts a bit. I think there are threads, I just wondered if anyone had tried reduce DMP this way ? Ended up bit tearful trying to sort my fuel direct debits today, and thought maybe its time I was a bit more assertive. Thanks.

Kate_fixing_it

igaveupnowimback wrote: »

I know that's not DMP, but am thinking if I try reclaim and have any success I may be able to reduce debts a bit. I think there are threads, I just wondered if anyone had tried reduce DMP this way ? Ended up bit tearful trying to sort my fuel direct debits today, and thought maybe its time I was a bit more assertive. Thanks.

I have no experience with catalogue debt but I think the general theory is "don't ask, don't get". What do you have to lose by trying?

I hope my posts have come across to prove that I'm not a negative person at all but I don't think it'll work (just my opinion) however, I also don't think it'll affect you adversely. What's the worst they can do? They can't put you in prison or take your first born child as payment. If they reintroduce charges and interest it's just going to make you aggravate them more. The absolute worst is a CCJ IF you don't pay and they'd look pretty stupid in front of a judge asking for one if you have gone through the correct channels with your DMP and are paying as much as you can.

It's also worth considering "the sqeakiest wheel gets the most oil" by that I mean they might want rid of you if you cause a fuss so could sell the debt on.

All this is me having a stab in the dark and just throwing out ideas to think about

Kate x

Kate_fixing_it

Quick update from me.

DS1 is now 16! It would seem I'm doing okay at this parenting thing despite never receiving a manual He's fit and healthy and in the "olden days" (when I was a teen) could be considered an adult so that's two of them

My interview is at 1pm. I'm still thinking it's a very long shot to get the job but sometimes even the 100-1 shot wins the Grand National. TBH I'm seeing it as a huge compliment to even be interviewed given the calibre of the other candidates. I'll do my best and hope they like me but I'm under no illusion that it'll be me (although I did dream that I got it last night). Have applied for another job too so we'll see what comes of that next week.

As per my above post, you don't get if you don't ask

Kate x

dad2one

Good luck Kate!

Aloofdragon

Good luck kate x

pbuxton2782

Hi

I was wondering if anyone can give me some advice if they've had experience with dmp. I have been with Gregory Pennington since 2011 i have a few problems and took out 4 payday loans over the past 6 months the usual taking one out to pay the other. I have emailed Gregory Pennington to see if they will add these accounts to my plan will this happen do you know ? what advice can you give me to stop the payday loans wiping my account at the end of the month ? Hope some one can give me some advice please.