DMP & Mutual Support Thread - Part 10

spot3

I paid off my debt with Quickquid through my DMP this month (this was the one that pushed me too far and resulted in my DMP, I am in idiot who should have known better). Imagine my surprise to start receiving emails from them offering me discounted loans because "I've earned it".

Thankfully I'm a different person now, I may still be awful at budgeting but I know I can make the £5.21 I have last the 10 days until payday without borrowing from them but imagine if I didn't?? It'd all start again.

I can't believe its ok for them to target people who couldn't pay their debts previously.

Rooster01

Hi all,

I'm starting dmp next month.......I'm making myself ill with worry.......if I'm not worried about creditors refusing payment plan I'm worrying about charging orders on my house. The morgage is joint but debts are only in my name.....How common are charging orders? I'm worried sick......

Puzzcat

Rooster01 wrote: »

Hi all,

I'm starting dmp next month.......I'm making myself ill with worry.......if I'm not worried about creditors refusing payment plan I'm worrying about charging orders on my house. The morgage is joint but debts are only in my name.....How common are charging orders? I'm worried sick......

Hi Rooster, well done for finding us!
Charging orders, I'm not aware of any of us having one of those but if someone has I'm sure they will comment! Many of us are homeowners including myself and I have not had a whiff of co's or ccj, we pay what we can afford at a rate that suits us instead of the creditors. I don't feel any guilt to not now paying interest as I have paid my original debt many times over.
Do stick around and join in, this is the best thread on mse.
Puzz.x

Growurown

Hi Rooster, I agree with Puzz. I have been on a DMP for over three years now and can only think of one person on this thread mentioning a charging order on their house. I think it very unlikely. The start of a DMP is always a very stressful and worrying time but it won't be as bad as you think it is going to be. This is as Puzz says the best thread on MSE, very supportive and not judgemental at all, so please let us know how you get on. There's always someone here to help out if you have any worries or questions.

Rooster01

Puzzcat wrote: »

Hi Rooster, well done for finding us!
Charging orders, I'm not aware of any of us having one of those but if someone has I'm sure they will comment! Many of us are homeowners including myself and I have not had a whiff of co's or ccj, we pay what we can afford at a rate that suits us instead of the creditors. I don't feel any guilt to not now paying interest as I have paid my original debt many times over.
Do stick around and join in, this is the best thread on mse.
Puzz.x

Just really tired and finding the whole thing extremely stressful. Not sleeping......I'm worried about a charging order due to the fact my morgage I only owe £28,000 and my house is worth around £177,000. I've worked extremely hard in paying my morgage off so worried about charging order. The house is my daughters future......

BeingDebtFreeStartsHere

Hi all,

Just catching up the thread

2nd payment gone out to SC this month - all quiet on the creditor front, no emails/calls for a while

Have booked a couple of days off work and have actual cash to go Christmas shopping with - I can say that I have not been in this position for about 7 years and it feels AMAZING!!!

Here's to DMPs and it's thanks to all you lovely folk for helping me to get into this position in the first place

BDFSH x

Sazzie23

Rooster01 wrote: »

Just really tired and finding the whole thing extremely stressful. Not sleeping......I'm worried about a charging order due to the fact my morgage I only owe £28,000 and my house is worth around £177,000. I've worked extremely hard in paying my morgage off so worried about charging order. The house is my daughters future......

Hi Rooster,

Try not to worry, and sleepless nights are a common theme on here until you get into the DMP.

Some folk on here have paid off their mortgage while in DMP, mostly these are threats the creditors make to ensure you dont run away without paying, many don't even default us (even if we ask them to:mad:).

Gotta go...

ailz95

Rooster01 wrote: »

Just really tired and finding the whole thing extremely stressful. Not sleeping......I'm worried about a charging order due to the fact my morgage I only owe £28,000 and my house is worth around £177,000. I've worked extremely hard in paying my morgage off so worried about charging order. The house is my daughters future......

Hi Rooster,

While you are paying your debts there's not a lot your creditors can - or are willing - to do. They would have to take you to court and any judge would look at your willingness to pay what you can afford and probably tell them to get lost.

I remember reading of one guy who was harassed by a creditor and the judge awarded the guy the amount he owed plus legal charges plus gave him a £1 a month repayment scheme.

Setting up a DMP puts you into a highly responsible group, creditors know that if they push you too hard you can say 'okay sue me' and they will get less in the end.

zenshi

Well, it appears I have the choice of two part time jobs now :eek: I have a trial shift on Friday at my preferred one. Hopefully I can use all of this income to whack of my debts. I will pay my daughter back first, then get an emergency fund in place, then think about upping my monthly payments. Does this sound OK to you lot?

Also, tell me about Noddle? I hear it a lot in these threads. Is it actually beneficial? Any negative impacts etc etc? I don't know anything about it

Puzzcat

zenshi wrote: »

Well, it appears I have the choice of two part time jobs now :eek: I have a trial shift on Friday at my preferred one. Hopefully I can use all of this income to whack of my debts. I will pay my daughter back first, then get an emergency fund in place, then think about upping my monthly payments. Does this sound OK to you lot?

Also, tell me about Noddle? I hear it a lot in these threads. Is it actually beneficial? Any negative impacts etc etc? I don't know anything about it

Hi
Noddle is not as detailed as the likes of experian but is free and shows your debts, balances usually a month behind and you can see the status of the debt ie; default, up to date, arrangement to pay etc. It is useful to check balances on debts you may not get statements for and to see who has defaulted - good to who has marked you AP - not so good. No negative impact that I am aware of, I signed up a long time ago.
Puzz.x