DMP & Mutual Support Thread - Part 10

Puzzcat

kalcide wrote: »

can somebody tell me please, how long after you send your paperwork off to SC that you get something back from them telling you whats going on?


thanks

A week to ten days.
Puzz.x

kalcide

Puzzcat wrote: »

A week to ten days.
Puzz.x

Cool! Thank you!

SquirrelNuts

kalcide wrote: »

can somebody tell me please, how long after you send your paperwork off to SC that you get something back from them telling you whats going on?

thanks

It's all very, very quiet with me too - it's almost like they've all forgotten about my debts (I wish!)

Sazzie23

SquirrelNuts wrote: »

It's all very, very quiet with me too - it's almost like they've all forgotten about my debts (I wish!)

If concerned, give them SC a call, as long as you have your ref number they will be able to tell you where the process is at. Maybe they are just busy. You can always ask them what to do about basic bank account if it's causing a problem.

Have a good day

Slothy88

I've done it. I've taken the plunge and I've cancelled all of the direct debits that are due to come out! :eek:


Sneaky Halifax overdraft fee isn't a payment I can cancel though, it just gets taken automatically from my account so that one has been paid grrr!


I've drafted my letter to the various creditors, I am now in the process of getting their addresses/finding out what info they want written on the cheques (because they all seem to want something different), then it'll be a case of popping them all in the post and waiting for the pitch forks! :rotfl:

SquirrelNuts

Sazzie23 wrote: »

If concerned, give them SC a call, as long as you have your ref number they will be able to tell you where the process is at. Maybe they are just busy. You can always ask them what to do about basic bank account if it's causing a problem.

Have a good day

Hi Sazzie,

Not concerned really, just surprised a little by how little fuss everybody has made so far, given that they all only had a £1 each last month!

I did have a chat with Stepchange earlier and have my DMP ref now so things are moving forward.

I also have new bank account so ok on that front

cheers

SquirrelNuts

Hi all

Does anybody know what happens with accounts in a DMP which contain Buy Now Pay Later items?

I have a few items on BNPL with Very and Argos which are under the deferred interest free period until mid next year.

Once the accounts are under the DMP, does that interest get written off, does it get added at the end of the interest free period as normal, or does accrued interest to date get added onto the balance straight away?

Time_to_face_the_music

SquirrelNuts wrote: »

Hi all

Does anybody know what happens with accounts in a DMP which contain Buy Now Pay Later items?

I have a few items on BNPL with Very and Argos which are under the deferred interest free period until mid next year.

Once the accounts are under the DMP, does interest get added once the interest free period expires as normal, does the accrued interest to date get added onto the balance straight away, or does the interest get written off?

I've got a feeling that if they go into the DMP, they are immediately treated as normal debt and the BNPL ceases to exist. I know this is what happens with 0% interest credit cards etc but can someone please correct this if I am wrong.

I kept mine out of our DMP and saved to pay them off.

TTFTM x

lewpster

Time_to_face_the_music wrote: »

I've got a feeling that if they go into the DMP, they are immediately treated as normal debt and the BNPL ceases to exist. I know this is what happens with 0% interest credit cards etc but can someone please correct this if I am wrong.

I kept mine out of our DMP and saved to pay them off.

TTFTM x

Glad you said that as I have a camera to pay for by next July - it will be my birthday presents from 2 years from hubby and my parents

kalcide

I have just got an email to say my dmp is set up and I should get a password to log on in the post. I sent my pack off Friday, so guess it hasn't taken much time at all. first dd comes out on 1/1/15. feel really nervous/anxious about it really....... dunno why!!! guess its gonna take me a while to sink in that I don't have to pay for things on credit anymore, and we need to start saving!