DMP & Mutual Support Thread - Part 10

Puzzcat

jubilee14 wrote: »

Well done all those creeping closer to the DFD.
TTFM that is great achievement your determination is as always an inspiration

Karen 777 where did you find the link as i have had the same toying with servicing as boiler is 8 years old.

New statement from SC today so new sig. Happy weekend all !

Thanks for the heads up Jubilee.. early statement.. just been on and now going to update my signature.... 11.4% GONE...


Puzz. x

dazla

Hi

I'm now into the £8000's, have been on dmp for 3.5 years, started off owing £35.000, light is now at the end of the tunnel

Lighthelamp

dazla wrote: »

Hi

I'm now into the £8000's, have been on dmp for 3.5 years, started off owing £35.000, light is now at the end of the tunnel

Dazla thats a fab achievement my own debt is around 30k mark so some day i'll get there. Out of interest did you get many offers for reduced f&f payments?

Karen I dont know about boilers but I have kept up a car warranty payment as I simply couldnt pay any repair costs & car is ancient. Its £30 a month which is a lot but it had to go into garage twice last month & cost came to almost £900, if it hadnt been for the warranty paying it I would now be carless! So I have decided to try to keep it on if I can.

SquirrelNuts

Very Good Evening to all DMP'ers!

First post from me. :T

I am looking forward to enjoying all of your company on this thread and 'I Hereby Pledge' to keep you all updated on progress as I aim for £0 debt! :beer:

I have been a regular reader on the forums for a number of years, and in the last week I have decided to take the plunge of sorting out my debt problems once and for all by starting up a nice shiny new Debt Management Plan with StepChange.

The trigger happened when my Wife found out a couple of weeks ago that she would be losing all of her income. I had already been juggling payday and installment loans amongst other debt for far too long, and that was that - Me Can No Do anymore!

So DMP here I come!

The creditor gang are as follows with approx amounts (yes - just a few I know :eek:):

Aqua - £1600
Argos - £490
Barclaycard £8700
Cashplus £3100
Everyday Lending £2100
Ladder Loans £1400
Lending Stream £230
Lloyds Bank Loan £8200
Lloyds Bank CC £1400
Lloyds Bank OD £500
Mr Lender £300
Peachy / CashOnGo £300
Pounds to Pocket / CashEuronet £1100
Sainsburys CC £5200
Very £800
Wonga £960

My 'Step One' was to post out the letter/email below to all of the creditors whilst I begin the set up process with StepChange. Many thanks to those who have previously posted the template on here, as it is So So useful - hence me re-posting it below.

I intend to start the plan from my Jan wage (so Feb 25th first payment out from Stepchange). This seems an absolute age away, but hopefully this will nudge along a few defaults - maybe even Mr BC.

I have also kicked off making the £1 token payments. Only £16 debt repayments this month - I wish that was the norm!!!

I have already had a few replies from a few of the creditors- will put them in subsequent posts to hopefully help some others who are reading this...

Warning for The Wary - for the peeps reading this who owe PayDay loans , I also added in a sentence in the letter below to ask for Continuous Payment Authority to be removed from all cards on account.

All were very responsive to the requests APART from Mr Lender who ignored my emails until the day the debt was due (and I suspect an attempted collect had failed). I am now on a repayment plan with them, but had an email a few hours after it was set-up to tell me that my card payment for full amount had failed... make of that what you will...

Letter Template below:

Dear Sir/Madam

I am writing to inform you that due to an unexpected change in household circumstances, I am currently seeking advice and assistance regarding my current financial difficulties.

I am working with StepChange to set up a Debt Management Plan (DMP) and I will provide you with a reference number once this has been set-up.

As I am unable to meet my normal monthly payments, would you please accept a token payment of £1 per month until StepChange contact you with my DMP details. I would appreciate if you could hold any action on the above account until this time.

I would ask that you please consider stopping or reducing interest and any other charges on my account to help me during my financial difficulties and to avoid increasing my debts any further.

I would please note all future communication should be in writing only.

I thank you in anticipation of your assistance and co-operation whilst I am going through this difficult time, and want to assure you that I am doing everything I can to resolve my current financial situation in a responsible and sustainable manner.

Yours faithfully,

Mr. SquirrelNuts

SquirrelNuts

Oh... and if anybody is wondering why the name 'SquirrelNuts' - just Google Image it... :rotfl::rotfl::rotfl::rotfl::rotfl:

kalcide

Thank you swuirrelnuts, I just made my first call to step change this morning and finally spoke to my partner about it tonight to ease my burden.

I was wondering what I should do in the in between bit before SC kicks in! So thanks fir the template x

SquirrelNuts

Hey Kalcide

Thanks for the reply and keep in touch

Time_to_face_the_music

SquirrelNuts wrote: »

Very Good Evening to all DMP'ers!

First post from me. :T

I am looking forward to enjoying all of your company on this thread and 'I Hereby Pledge' to keep you all updated on progress as I aim for £0 debt! :beer:

I have been a regular reader on the forums for a number of years, and in the last week I have decided to take the plunge of sorting out my debt problems once and for all by starting up a nice shiny new Debt Management Plan with StepChange.

The trigger happened when my Wife found out a couple of weeks ago that she would be losing all of her income. I had already been juggling payday and installment loans amongst other debt for far too long, and that was that - Me Can No Do anymore!

So DMP here I come!

The creditor gang are as follows with approx amounts (yes - just a few I know :eek:):

Aqua - £1600
Argos - £490
Barclaycard £8700
Cashplus £3100
Everyday Lending £2100
Ladder Loans £1400
Lending Stream £230
Lloyds Bank Loan £8200
Lloyds Bank CC £1400
Lloyds Bank OD £500
Mr Lender £300
Peachy / CashOnGo £300
Pounds to Pocket / CashEuronet £1100
Sainsburys CC £5200
Very £800
Wonga £960

My 'Step One' was to post out the letter/email below to all of the creditors whilst I begin the set up process with StepChange. Many thanks to those who have previously posted the template on here, as it is So So useful - hence me re-posting it below.

I intend to start the plan from my Jan wage (so Feb 25th first payment out from Stepchange). This seems an absolute age away, but hopefully this will nudge along a few defaults - maybe even Mr BC.

I have also kicked off making the £1 token payments. Only £16 debt repayments this month - I wish that was the norm!!!

I have already had a few replies from a few of the creditors- will put them in subsequent posts to hopefully help some others who are reading this...

Warning for The Wary - for the peeps reading this who owe PayDay loans , I also added in a sentence in the letter below to ask for Continuous Payment Authority to be removed from all cards on account.

All were very responsive to the requests APART from Mr Lender who ignored my emails until the day the debt was due (and I suspect an attempted collect had failed). I am now on a repayment plan with them, but had an email a few hours after it was set-up to tell me that my card payment for full amount had failed... make of that what you will...

Letter Template below:

Dear Sir/Madam

I am writing to inform you that due to an unexpected change in household circumstances, I am currently seeking advice and assistance regarding my current financial difficulties.

I am working with StepChange to set up a Debt Management Plan (DMP) and I will provide you with a reference number once this has been set-up.

As I am unable to meet my normal monthly payments, would you please accept a token payment of £1 per month until StepChange contact you with my DMP details. I would appreciate if you could hold any action on the above account until this time.

I would ask that you please consider stopping or reducing interest and any other charges on my account to help me during my financial difficulties and to avoid increasing my debts any further.

I would please note all future communication should be in writing only.

I thank you in anticipation of your assistance and co-operation whilst I am going through this difficult time, and want to assure you that I am doing everything I can to resolve my current financial situation in a responsible and sustainable manner.

Yours faithfully,

Mr. SquirrelNuts

Hi and welcome SquirrelNuts :hello:

Have you changed your bank account to a new safe account and did you also cancel the CPAs with your old bank? Just want to make sure you have covered everything.

TTFTM x

Time_to_face_the_music

kalcide wrote: »

Thank you swuirrelnuts, I just made my first call to step change this morning and finally spoke to my partner about it tonight to ease my burden.

I was wondering what I should do in the in between bit before SC kicks in! So thanks fir the template x

Hi and welcome kalcide :hello:

Have you got any debts with your current bank account, e.g. overdraft or credit card? If so, you should be setting up a new basic bank account with a bank that is totally unconnected with any debts.

TTFTM x

ailz95

Karen777 wrote: »

^^ ignore me, just found whole thread on corgi home care and have now filed the letter from them in the bin ^^

I have cover with Corgi and it has been a great money saver. We pay for the with service one, and other than the service they had to come out 3 times over 2 weeks. We had a leak and every time it was fixed it just started again elsewhere. This is on a 4 year old condensing boiler. In the end they replaced the complete water in system.