DMP & Mutual Support Thread - Part 10

neiljmuk

neiljmuk wrote: »

Hi all, hopw xmas and NY were all good!

Getting closer to starting my DMP. I've a slight concern tho and wondered if you had any ideas. I think I'm being extreme, but, my wife has a debt with Barclaycard, and HP type car finance with Barclays Partner Finance (the car is theirs until paid in full). I know that if she had a bank account or savings with Barclays, they could offset, but is there any possibility that the request to enter the Barclayard payments into a DMP could allow Barclays to do something detrimental in regards to the HP on the car via Barclays Partner Finance? Theres no danger of the HP repayments not being paid in full outside of the DMP...

Any advice appreciated

Folks, I'll answer my question as SC have advised, and thought it might be worth doing so in case anyone else has finance with Barclays Partner Finance and Barclaycard, with similar worries (although probably not as my imagination can run wild lol)

"Barclays partner finance could not be used in the right of offset against the Barclaycard, as they are two separate companies, therefore the Barclaycard would be able to go on the plan."

Quick and straight to the point response so happy with that. :beer:

Sazzie23

Student_Mrs wrote: »

Hello, just tentatively saying hello! We've finally started earning enough to be allowed on a DMP after being on a token payment plan with StepChange for 12 months. We're still only doing minimum for now at 5 to each creditor, so £25 on 10th Jan will be first payment and the DFD of 2041 is a bit scary!! Not a lot of debt, £7814 ish and my husband starts a job in January so hoping we'll be paid off a lot before 2041!!

Looking forward to getting some tips from you and also scared of the income increase - we've been on 6k a year for the last 18 months with a now 2 year old so it has not been easy. We'll now earn a combined 24k pre tax until Oct when I return to finish a part time Masters course that will hopefully make me a bit better paid in the future but who knows...!

Hello Student Mrs :hello: welcome to the DMP Gang, thanks for posting.

Sounds like you are going to be able to make good inroads into that DFD. Everyone has their own debt burden, and it's not so much about the amounts but the ability to pay it off, 2041 does sound a bit long haul.

Good news on the earnings front, make sure you have that budget organised so you are not tempted,:o but having managed for 2 years on £6k I think it'll be ok:D

Happy days and best wishes for a debt busting 2015

Sazzie23

jubilee14 wrote: »

Hi All hope you've all had a good festive break. was working through but enjoyed the days off i had.

All fine on DMP front have been playing about with my spreadsheets trying to bring the DFD little bit further. Going to set up my payment pots and be more planned this year as there is still alot of money frittering away that could go on debt.

just wondering if i wanted to make add on payments to one off does anyone do it while with SC. i know its not strictly the way to go but dont know if i am disciplined enough for self managed. mmm thoughts thoughts.

going to write to BC again to see if i can get the interest frozen as its pushed DFD back about 6mnths. can but try as i dont htink i have had to officially complain yet on this so could well go to FOS if they fail to co-operate.

Have a good Monday

Good luck with the BC interest...it's not an easy fight.
Regards extra payments, SC like you to go through them, but I'm sure some on here have made direct extra payments either one off or regularly and gotten away with it. Or you could consider self managed, then you decide who gets what!

Rooster01 wrote: »

First dmp payment sent.........All creditors have agreed payment plan but Springcoin(Avante Credit) still insist no documentation received from Stepchange dispite them posting twice. All have frozen interest apart from Barclaycard but have reduced interest to 3%. So far so good..........does it really run this smoothly?

Not always Rooster, buts is nice when it does:D

Regards Springcoin, maybe their debt recovery team will have better access to the SC info, it's worth checking if there is someone else in the group who deals with debt as often the details are accessed by them instead of normal collections.

Slothy88 wrote: »

I am applying (hopefully) to be a student paramedic at the back end of this year, and to be eligible to apply I need to have a HGV driving licence. It is so expensive, around £1000 for the week-intensive course and test, but luckily I have a very supportive OH who is saying he'll pay for it as part of my Christmas/birthday present, because he knows how much I want this.


To get the provisional licence, you need to have a medical done which is classed as a private service and not available on the NHS. My docs wantd £100 for the privilege of filling in a ruddy form!!! :eek: Luckily I hunted around and my local council offers them through their Occupational health department for £50! So glad I looked elsewhere!


Also going for a free eye test at Tescos on Friday, and (assuming my prescription has changed) I'm going to hunt around and find a place that will just replace lenses in old frames for cheap. I have some lovely Calvin Klein frames that have not seen enough of the daylight to warrant a new pair yet!


In other news, I was volunteering for my local ambulance service on New Years day, and after 8 months of volunteering I got called to my first cardiac arrest)

Great news Slothy and good luck with it all, very pleased it was a happy ending on NYD, brilliant start to your year (and hers), well done. Glad to see you're looking around for money saving ideas in licence applications and glasses. As long as you are not looking at variofocals I think glasses direct are pretty competitive even against just a lense replacement ?

Sazzie23

Hopelessly_Hopeful wrote: »

Hi All

This is a link to one of the threads that really kept me going in the DMP

https://forums.moneysavingexpert.com/discussion/291326

I cant wait to see you all there too.

Am confident when I type I know month and month each of you in a better position.

Onwards and upwards

HHx

Me too... One day, maybe not this year, but one day, I'll be there:T

I think my LBM for 2015 is realising budgeting is not about what you spend, but about what you don't spend :rotfl:

Slothy88

Sazzie23 wrote: »

Great news Slothy and good luck with it all, very pleased it was a happy ending on NYD, brilliant start to your year (and hers), well done. Glad to see you're looking around for money saving ideas in licence applications and glasses. As long as you are not looking at variofocals I think glasses direct are pretty competitive even against just a lense replacement ?

Thanks Sazzie! Just put 'reglaze glasses' into google, and by pure chance this link came up to an MSE deal!


http://www.moneysavingexpert.com/deals/reglaze-my-glasses


£10 off, which means that along with their free delivery service, I can get scratch resistant lenses for £15! That's a bargain

moneyworrier89

Hello there,

I am looking for advice please. I am 24 years old and feel like some sort of failure. I am around 10,000 in debt after being silly when in University but I am now resolving to face up to my issues.

I am now in the process of applying for a DMP with Step Change who seem to have a good reputation. My main concern is one of my creditors Zopa loans. I owe around 3500 with them and I am particularly worried as it is Peer to Peer lending. I have heard lenders can arrange their own debt collectors. I completely appreciate why they would as it is their own money, however the thought of this is now making me ill and affecting other aspects of my life.

any advice given would be greatly appreciated.

hopeful1983happy

Hi everyone,

It has been a couple of years since I have typed on here. DMP is ticking along nicely, and it even seems to have gone well when I had to reduce payments due to the (surprise) arrival of baby #2.

I just have a couple of questions that I wonder if anyone is able to help with please.

Firstly, how does one go about re-mortgaging while on a DMP? Our mortgage was originally with northern rock, now NRAM. We have never missed a payment but our fixed rate period has ended and we would like to try and get another fixed rate deal, purely so that we know the exact cost per month. I am sure the low rates wont last - they have to go up sometime! I am scared that if they do then we will suddenly be in trouble .

Secondly - one of my creditors still hasnt defulted me, nearly 3 years after everyone else started too. I dont know what to do to get them too! It was originally an Egg loan but we are now on our 3rd DCA, and it is now showing on my credit score that we have missed 8+ months payments, whereas all the others either say arrangement to pay or defaults. Anyone got any ideas?

Thank you all in advance, happy new year x

moneyworrier89

I would also like to ask whether companies will agree to a DMP if you haven't defaulted much. The whole reason I am taking the DMP out is that I am not paying anything off only ever the bare minimum and it is getting to a point now where I am starting to default slowly but surely. Thanks

SquirrelNuts

moneyworrier89 wrote: »

I would also like to ask whether companies will agree to a DMP if you haven't defaulted much. The whole reason I am taking the DMP out is that I am not paying anything off only ever the bare minimum and it is getting to a point now where I am starting to default slowly but surely. Thanks

Hi MW89

I didn't have any defaults when I took action to go onto a DMP, in fact I hadn't even had a single late payment at that point.

I've been doing £1 payments since Nov and still no defaults. I've had varying responses from creditors to the DMP - a couple have accepted, one hasn't accepted but Stepchange will just pay them anyway, and most have simply kept quiet.

cheers,

Squiz

SquirrelNuts

Rooster01 wrote: »

First dmp payment sent.........All creditors have agreed payment plan but Springcoin(Avante Credit) still insist no documentation received from Stepchange dispite them posting twice. All have frozen interest apart from Barclaycard but have reduced interest to 3%. So far so good..........does it really run this smoothly?

Hey Rooster

Glad it's all going well so far for you!

Out of curiosity how did you find out which creditors accepted - did they all send letters to you?

Most of mine have gone quiet on me, so I'm assuming acceptance as nothing from them to the contrary!

I ended up phoning Very again today as had an odd letter from Stepchange saying that their details didn't match Very's so they couldn't progress this account any further until I had phoned Very to sort out the mismatch.

Eventually I ended up being given the number for RMA Resolve who apparently administer Stepchange DMPs on behalf of Very / Shop Direct group (I remember you writing that you were passed to them too)

They had the details from Stephange so said they would review the file and talk to Stepchange directly to sort out any misunderstanding. It appears RMA use a different reference number to Very so maybe that was the difference! Anyway, hopefully all sorted now and that will be another one in the accepted pile...

Squiz