DMP & Mutual Support Thread - Part 10

kalcide

Afternoon All,


My DMP is set to start on 1 jan... eek. I have had a letter from BC saying that they are now filing on my credit file that im on an arrangement payment. I asked them why are they not defaulting me, and they said because I haven't as the new payment arrangement hasn't gone into arrears.


What is everyone doing with their Barclaycard with regards to getting a default?


also with my Very account I have had a letter from RMA resolve, are they debt collectors? do I need to tell step chage?


Thanks in advance

Sazzie23

spiffyiffy wrote: »

Hi all,


I haven't updated in a while for many a reasons but so here goes: I finally started my DMP on 1st Dec and am paying £71.00 a month and that has already been taken out; am relieved.


My DFD is 20/08/2051; that is over 30 years away but will hopefully come down as I pay more off, etc. I've just got a few letters to write to a few of my creditors to see if they'll refund any of the late charges and interest. I have 2 questions to this does anyone have a template for this which I have seen on here a few times and should I just send the same letter out to all my creditors?


Thanks

Hey Spiffy

Next to see you back, how are things?

First payment gone, wow you are on the track to DFdom.
Saw Puzz :A posted the template so that should keep you busy for Christmas :rotfl: 30 years is an awful long time, but as. I said to mum2be in a recent post, lots of things will change in that time, your income will go up and down and chances are you'll get that DFD down really soon. Main thing is to start with a manageable budget and a little emergency fund to keep you going. I'd suggest spreadsheets for motivational milestones.

cydney11 wrote: »

Hi S23

Thanks for welcome. I do have accurate balances though rough estimate here. I plan to have £1000 emergency fund by late jan. I have 2 defaults £59 and £1400 due to drop off jan 2018, that i would like gone first. 2 AP with Barclay £2500 and £4100 both at 6.9%. Another card account £2870 at no interest, and no markers cause they made a mistake as should have D me, so reimbursed lots of interest. 1 private/student loan £970 no interest and doesnt show on ref agencies agencies. That's it :-)

I would like it all gone asap ( obviously) would like to try or another mortgage. Thats why i wonder whether settlement offers would make things worse bearing in mind i already have 2 D and 2 AP.

Hi Cyd, you send very switched on about your balances etc so I'm not sure what suggestions I can make about settlements as you probably have as much info as me, some of the other regulars will be better placed. Hopefully they'll be along soon.

As you know SC like you to go through them for additional payments but I don't think they'd quibble at paying off the £59 straight away. I think maybe you might want to consider going self managed if you want to control who/when you make payments and offers to.

There are a lot of self managed DMPers on here and most seem to have managed it really well, as you seem the organised and informed type I'd suggest you start by looking at NEDCAB to see whether that could be for you.
Sure they'll be plenty more suggestion and tips on the way:eek:

Sazzie23

kalcide wrote: »

Afternoon All,


My DMP is set to start on 1 jan... eek. I have had a letter from BC saying that they are now filing on my credit file that im on an arrangement payment. I asked them why are they not defaulting me, and they said because I haven't as the new payment arrangement hasn't gone into arrears.


What is everyone doing with their Barclaycard with regards to getting a default?


also with my Very account I have had a letter from RMA resolve, are they debt collectors? do I need to tell step chage?


Thanks in advance

Hi Kalcide

Re BC - as you see from Cyds post above, they are difficult, however some have reported success so it's worth fighting it if you can face it. I suspect it depends how much you are repaying.

Re Resolve - I'm not sure if they are internal or external DcA, what did the letter say? if they have taken over the debt, you need to log into SC website and update the your debts section, SC should do the rest. It's nothing to worry about, and as Very can be awkward, it's probably a good thing.

Enjoy pre-Christmas Sunday everyone

ailz95

kalcide wrote: »

Afternoon All,


My DMP is set to start on 1 jan... eek. I have had a letter from BC saying that they are now filing on my credit file that im on an arrangement payment. I asked them why are they not defaulting me, and they said because I haven't as the new payment arrangement hasn't gone into arrears.


What is everyone doing with their Barclaycard with regards to getting a default?


also with my Very account I have had a letter from RMA resolve, are they debt collectors? do I need to tell step chage?


Thanks in advance

Barclaycard never defaulted me either just AP, but as soon as I finished paying them it was gone completely from my credit file.

Hope that helps

Puzzcat

ailz95 wrote: »

Barclaycard never defaulted me either just AP, but as soon as I finished paying them it was gone completely from my credit file.

Hope that helps

That is really interesting, I thought ap markers showed for 6 years after the debt was settled? Does it not show on any of the credit files?

Lighthelamp

Been meaning to getting around to posting here but Christmas craziness has taken over! Anyways...my first Christmas without CC's! eek!


Actually wanted to ask you guys advice, I applied for the StepCh DMP & first payment came out end of Nov. When I applied I was still receiving sick pay from my employers, however that has now stopped & Im on benefits only until my ill health pension arrives (could be a couple of months yet). Should I ask SC to review the DMP payments in light of this? I don't want them to turn around and tell me I can no longer commit to the DMP as all my creditors have agreed to it at this stage. Essentially I don't want to rock the boat, and would rather borrow monry from family for a few months to meet my monthly payment than have the DMP stopped if that makes sense? On the other hand its a real struggle as you can imagine with Christmas etc.

Puzzcat

Lighthelamp wrote: »

Been meaning to getting around to posting here but Christmas craziness has taken over! Anyways...my first Christmas without CC's! eek!


Actually wanted to ask you guys advice, I applied for the StepCh DMP & first payment came out end of Nov. When I applied I was still receiving sick pay from my employers, however that has now stopped & Im on benefits only until my ill health pension arrives (could be a couple of months yet). Should I ask SC to review the DMP payments in light of this? I don't want them to turn around and tell me I can no longer commit to the DMP as all my creditors have agreed to it at this stage. Essentially I don't want to rock the boat, and would rather borrow monry from family for a few months to meet my monthly payment than have the DMP stopped if that makes sense? On the other hand its a real struggle as you can imagine with Christmas etc.

Hi, You can rejig your payment amount but creditors may stamp there little feet, however if you explain to the creditors yourself the reason why and timescale until normal payments resume they may be less
stampy! Have a chat with SC tomorrow. The problem with borrowing money is it will need paying back and that's how we all got in this pickle!
Puzz.x

cydney11

Puzzcat wrote: »

That is really interesting, I thought ap markers showed for 6 years after the debt was settled? Does it not show on any of the credit files?

Same here with Barclay card. Ialso thought they left it for 6 years after last payment. Lots about this wheen you google AP. I'd be really pleased if it disappeared when paid. I bet they wouldnt say if we asked them before paid off. Also they charge me 6.9%, which Imust admit I no longer challenge as dont want default at this stage.

ferry

Guys just popped in to ask a quick question please.
Something just occurred to me,been busy cancelling and transferring DD's all weekend to new bank in preparation for a new account.
Will my existing bank get suspicious of me doing this and start asking questions?

Anyone with any experience of this and how did you handle it?

Thanks as usual
F x

Growurown

ferry wrote: »

Guys just popped in to ask a quick question please.
Something just occurred to me,been busy cancelling and transferring DD's all weekend to new bank in preparation for a new account.
Will my existing bank get suspicious of me doing this and start asking questions?

Anyone with any experience of this and how did you handle it?

Thanks as usual
F x

My bank didn't cotton on. OH's work failed to pay his salary into our new account (useless admin dept.) So I was really worried that the old bank would swallow up all the money but they didn't and I just drew out the cash and paid it into the new account.