DMP & Mutual Support Thread - Part 10

Rooster01

Well DMP with Stepchange starts next month. I have rang the majority of my creditors today and informed them about my change in circumstances. Surprisingly all have been very nice expecially Barclaycard. Quickquid were also very understanding. Nationwide reassured me about my fear of CCJ as I've heard so many horror stories about charging orders etc from them and told me they have no reason whatsoever to issue a CCJ and not to worry! Hopefully all 10 creditors will accept my payment proposals.

kalcide

I'm with you rooster!!!

Puzzcat

:T:T To all the new dmp'ers, your doing grand... :T:T

so_very_confused

I have been lurking and occasionally posting on here for about 7 months. I wished I had found it sooner as it would have made the previous 10 months of DMP more bearable and productive. I digress, I just feel the need to say a big thank you to all the regular long term posters who give so much great advice and support. So thank you all, you know who you are! :)

Monkeyballs

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 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?

Evening all!!!

Hi Squiz,

I can't comment re. Argos but when I had a debt with Very it included BNPL items and while they agreed to reduced payments they let the BNPL dates stand but said that at the end of the period the interest would be added

I was lucky enough to get enough cash together to pay it off (it wasn't too much really) but if they had applied it then I personally would have sent in a complaint...

MB of G xxx

SquirrelNuts

Monkeyballs wrote: »

Evening all!!!

Hi Squiz,

I can't comment re. Argos but when I had a debt with Very it included BNPL items and while they agreed to reduced payments they let the BNPL dates stand but said that at the end of the period the interest would be added

I was lucky enough to get enough cash together to pay it off (it wasn't too much really) but if they had applied it then I personally would have sent in a complaint...

MB of G xxx

Hi Monkers,

I was hoping somebody wouldn't say that, but I'm not too surprised really

Once the DMP has settled down in a few months time, and no obvious approach on this from either of them, I'll put the question to them direct (reminding them of lending best practice, CCA etc at same time.. )

cheers

Squiz

Monkeyballs

SquirrelNuts wrote: »

Hi Monkers,

I was hoping somebody wouldn't say that, but I'm not too surprised really

Once the DMP has settled down in a few months time, and no obvious approach on this from either of them, I'll put the question to them direct (reminding them of lending best practice, CCA etc at same time.. )

cheers

Squiz

Sowwweee

That said, people often come on here with different experiences so there is a good chance that someone else has had a different experience so don't give up hope!

MB of G xxx (Aka. Monkers )

racht

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 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?

I've got a Very account in my DMP and they have just added the interest from last years Christmas presents I had on BNPL I've still got some more that run out next year so hoping to try and pay them off before any more interest is added

Rooster01

Just got a nice surprise from Wonga.....Was on an AP but just received email to inform me I don't owe them anything and my account is now closed. I did owe them £180.00!

SquirrelNuts

Monkeyballs wrote: »

Sowwweee

That said, people often come on here with different experiences so there is a good chance that someone else has had a different experience so don't give up hope!

MB of G xxx (Aka. Monkers )

I won't - lol

:j:j:j:j:j:j:j:j:j:j:j

racht wrote: »

I've got a Very account in my DMP and they have just added the interest from last years Christmas presents I had on BNPL I've still got some more that run out next year so hoping to try and pay them off before any more interest is added

BOOO! More evidence of a big interest bill to come from Very. Methinks I need to get pro-active on this one...

cheers

Squizzy