DMP & Mutual Support Thread - Part 10

SquirrelNuts

Rooster01 wrote: »

Any advice about Springcoin dmp folks????

Stepchange state they have sent info off several times but Springcoin insist nothing received. Springcoin have asked for information to be sent via email but Stepchange refuse due to data protection act? I did ring Springcoin and ask to be put through to debt management department but nobody available?????? Strange ? ??

Hi Rooster,

I think you are going to have to ride this one out. :(

Did you send off the telephone harassment complaint letter to them?

If not, I would be inclined to sent that off to them by signed-for post, and would also complain that they are not acknowledging details of your DMP (spelling out to them your Client Ref, proposed monthly payment amount £x.xx from Stepchange, when it will start etc).

For good measure you could also ask them again to freeze interest / charges and ask them to supply a full statement of account from opening to current day listing all credits, debits, interest and charges.

That should keep them busy for a bit!

Once the letter is posted ignore their calls, and resist the temptation to call them (easier said than done I know!)

Chances are they'll probably sell this off to a UK based DCA - Springcoin are a US company. I was going through the same with Pounds to Pocket but at least they finally acknowledged my DMP and have stopped interest now...

Squiz

January2015

Hi everyone

Can I join your DMP Mutual Support group?

I can assure everyone I really am fully qualified to be a member of this group - we have loads of debt and just waiting for the StepChange pack to arrive. I've started a DWF diary .

Looking forward to getting to know you all:beer:

spot3

January2015 wrote: »

Hi everyone

Can I join your DMP Mutual Support group?

I can assure everyone I really am fully qualified to be a member of this group - we have loads of debt and just waiting for the StepChange pack to arrive. I've started a DWF diary .

Looking forward to getting to know you all:beer:

welcome to the thread January2015!

spot3

So here's a weird one.... I have 2 payments left to make to Stepchange and I'm a little bit worried about being on my own again! Its like some kind of weird DMP stockholm syndrome. I don't think i've learnt enough about budgeting and I'm scared i'll start to waste money again, albeit without access to credit at least.

I know my first step will be an emergency fund, and visiting my parents (they live in Turkey and i've been making excuses not to go out there for 2.5 years now as they don't know about my debt), and I'll be able to try and be less single as i'll be able to actually go out, but now my sleepless nights are worrying that I'll mess up again.

I told you it was weird.

Sazzie23

Spot3 - no I don't think it's weird at all, having the boundaries of a DMP with SC is the reason I've stuck with them and not gone self managed as I'm not convinced I have enough self discipline.

Maybe you would benefit from some sort of target to aim at, perhaps using the challenges on the DFW forums? At least it will give you some sort of support and structure.

It's an exciting time though, allow yourself to enjoy it and bask in the glory of approaching DFDom.

Welcome to the thread January2015 if you get chance to read back a few pages you'll see there's lots of advice and DFW chat on here.

Hi Rooster
Agree with Squizzer, put it in writing, signed for and call them one more time asking for the debt collections section. Tell them you won't discuss it with anyone else. At that point I'd probably give up and leave it to SC.

If they continue to call you, request they only contact you in writing.

Hi Minkeymoo, I'd withdraw the esaver cash directly (not through your overdraft) and hold onto the cash until the loan payment gets refunded. I'd tell the rent people you're moving accounts and ask to pay them in cash this one time or ask could they wait til the new account is set up.

It's important to get any money out of the bank where you have debt (not just your current account) as otherwise they will offset. Natwest did with ours but there was less than a tenner so we weren't bothered. If you are not including Natwest in the DMP it's not so important, but SC can get funny if you use the overdraft and they find out.

Happy times

Sazzie23

hopeful1983happy wrote: »

Thank you so much for your reply.

Sadly NRAM don't do new mortgages- they are the body that picked up northern rocks mortgages. Anyone any suggestions of how to remortgage on a DMP? Which lenders take people?


Re not being defaulted: it was originally an Egg loan, then it went to Moorgate DCA then Idem Servicing DCA. Is there a link or thread somewhere that has template letters for asking for a default please? Thank you so much for your help so appreciated

H1983H

Hi Hopeful,

There is a similar question from an IVAer on the board, it's been recommended to post in mortgages forum

http://forums.moneysavingexpert.com/forumdisplay.php?f=15


Hope this helps

Kate_fixing_it

Good morning all and hello lovely new people! I know you're lovely because you're here and everyone who joins our DMP family is! Some may not be here every day, some may disappear for a while but together we all want to same thing and we WILL get there.

Minkymoo - I had a similar issue with rent. Call your landlord/estate agent and explain what you need to. I rang mine the day the rent was due and explained very basically that the money wasn't there (you don't need to tell them everything - all they want is the rent money) but could I make alternative arrangements. Within 10 minutes I had a solution and I paid them directly by bank transfer. They were grateful I'd been up front and whilst terrifying for me it was quickly sorted and it kicked off my LBM. The worst thing you can do is keep quiet and worry yourself into a state. The first weeks/months are a baptism of fire but in a very short time you'll be posting support and advice for other newcomers.

Have a great day all.

Kate x

Jono987

Hey everyone, my DMP just got activated today :beer:

I have a quick question if thats ok? I just got the email from Step Change with the payments they are giving each of my creditors. My Debt Free date is 24 months, however this dosen't tie up with the payments. For example, on one credit card i owe 2900. Step change are paying them £78. 24 x £78 is not 2900? Also, my loan is 6700, step change are paying them 320. 320 x 24 is more than 6700? Am i missing something? I thought they would split it so after 24 months all would be paid off. Thank you

Rooster01

SquirrelNuts wrote: »

Hi Rooster,

I think you are going to have to ride this one out. :(

Did you send off the telephone harassment complaint letter to them?

If not, I would be inclined to sent that off to them by signed-for post, and would also complain that they are not acknowledging details of your DMP (spelling out to them your Client Ref, proposed monthly payment amount £x.xx from Stepchange, when it will start etc).

For good measure you could also ask them again to freeze interest / charges and ask them to supply a full statement of account from opening to current day listing all credits, debits, interest and charges.

That should keep them busy for a bit!

Once the letter is posted ignore their calls, and resist the temptation to call them (easier said than done I know!)

Chances are they'll probably sell this off to a UK based DCA - Springcoin are a US company. I was going through the same with Pounds to Pocket but at least they finally acknowledged my DMP and have stopped interest now...

Squiz

I threatened them with complaint (Financial Ombudsman) so not called since Friday however I rang them yesterday and they still insist no documentation received. I asked to be put through to Collections and this made me laugh "Sorry nobody available to take your call"??? Stepchange inform me everything is correct, account number, address to send documentation and the fact they have sent this now 4 times is raising my suspicions. Can I report them to Financial ombudsman for not acknowledging dmp?

Rooster01

Jono987 wrote: »

Hey everyone, my DMP just got activated today :beer:

I have a quick question if thats ok? I just got the email from Step Change with the payments they are giving each of my creditors. My Debt Free date is 24 months, however this dosen't tie up with the payments. For example, on one credit card i owe 2900. Step change are paying them £78. 24 x £78 is not 2900? Also, my loan is 6700, step change are paying them 320. 320 x 24 is more than 6700? Am i missing something? I thought they would split it so after 24 months all would be paid off. Thank you

You will find some debts are paid quicker than others and when this happens payments towards other debts increases.