DMP & Mutual Support Thread - Part 10

Karen777

well done all of you - great post Sazzie I must admit I got completely lost when I logged on due to all the new activity - which is a great thing as it means more people starting on their DF journey - we all go through the same panic and then all look back with amazement at how far we've come! well done Puzz and TTFM -great going - I have got down into the 10s (thousands) today, a month earlier than I thought I would, I'm bouncing!! keep trucking on everyone we're getting there!

Puzzcat

Me again..


I have just posted this on my diary but thought I would post it here as I know some of you love a milestone or 2..


7 years seems such a long time but the last 15 months have flown past..


Right I have been playing with figures...


As of today I have 90 months left on my dmp if everything stays as it is... so this is what I have based my milestones on.. Now I know life happens and everything rarely goes to plan but it is always good to have something to aim at..


So...


Assuming life stays the same..and I don't up my payments at all to my dmp (which is unlikely..)


November 2013 Starting debt £60062


In January 2015 I have paid off 13.3% and have 90 months left
In January 2016 I will hit the mid 40k's and have paid off 25%
In January 2017 I will have fallen into the high 30k's
In January 2018 I will have paid nearly 50% off...
In January 2019 i will be in the mid 20k's
In January 2020 I will be in the high teen k's....
In January 2021 I will have paid off 80%
In January 2022 I will have 7% left to pay and be under 5k...


Well that's all looking lovely, just got to hope that life doesn't throw too many curved balls at me on the way...!!


Puzz. x

Karen777

Just read more posts further back than I had before and Ellie - I was reading your post about being debt free next year and feeling so pleased for you and then realised that - barring disasters- I too will be debt free next year! I can't believe it! Am scared to believe it as haven't been debt free since I was 18 but still - it could well and may well happen. I need a cup of tea to take this in I think. I haven't dared let myself think too much about the end but now am in the 10s (thousands) I am going to look bravely forward..... thanks for making me realise that with your post!

Karen777

we do indeed love a milestone well done Puzz.

ailz95

Jono987 wrote: »

Hey everyone, just when i was starting to worry less i get some letters from the halifax

First letter was from stepchange to say halifax mastercard had rejected my payment plan. I phoned halifax who said it might be because step change are offering them more than the min payment so they wont accept a plan with this in mind. Ok i thought thats not too bad.

Second letter today from the halifax, saying they have accepted my reduced payment plan but it also said interest will continue to be charged and that ill actually pay more interest because im not paying the required payment every month. The way this letter was worded insinuated the payment plan was between me and halifax, there was no mention of stepchange. I rang stepchange who said this might just be a default letter that the halifax send out so not to worry.

I then rang halifax, the women on the phone didnt seem to understand what stepchange was, althought she had my budget infront of her which stepchange had sent :mad: I told her i wouldnt be paying the loan but step change would be. She said interest will continue to be charged and if i could just make the normal payments i wouldnt have to bother with the payment plan. Again i said the plan is with stepchange and they are giving halifax all i can afford. She said interest will continue to be charged and thats that basically

What should i do now just leave it and hope for the best? The letter said they will accept the reduced payments for 6 months, but this means increased interest for 6 months so im hardly going to pay any off

Sorry for the long post!

I wonder whether SC would hold back the payments - or you could ask them too - until they sell the debt on to a DCA who then freeze the interest. You could just send £1 token payments. Someone wiser than me will probably be along soon :rotfl: to give you a better answer

Ailz

PS - In fact someone already had - Sazzie - great post by the way

lewpster

My debt-free date shows as 13 1/2 years away but I am trying not to let it get me down. I know this isn't a true date as my circumstances will change, I will stop paying childcare and even paying £165 a month I am finding it hard but I am only 3 months in so didn't expect an easy ride.

Wonder now how I struggled on for so long It's just such a relief to know my debts are going down very slowly but still I am on a road to a debt free future and it's a nice feeling having no credit cards!

Karen777

hellifax refused to stop interest on my cc for exactly the same reason despite having stopped it on my overdraft in recognition of financial hardship. I complained to hellifax, then complained to ombudsman, which resulted in some charges being refunded but never any interest reduced. They are truly the most unhelpful company and when I think what they have had from me in interest over the years it makes me furious. The only option I think I have now is (because I am self managed) is to send them token payments and see what their response is. I haven't quite had the b@lls to do this yet so am still paying them insane interest on credit card and watching the balance barely drop.

so_very_confused

Great post Sazzie and lots of lovely milestones. Well done people, off to check mine must be able to find some kind of milestone!?!:rotfl:

KrazyKel

Hi all!

Love the newbie post Thank you Sazzie - Im just about to start my DMP journey (After getting the email paperwork over a month ago from Stepchange but keep putting it off!)

Ive received paperwork from Co -Op to set up my basic bank account I need to fill in... but I do have an old Lloyds account I dont use so would prefer to use that...
My debts are with Barclaycard, Nationwide, Asda CC, Virgin and MBNA and HSBC.... are Lloyds connected to any of them?

Thank you

Puzzcat

KrazyKel wrote: »

Hi all!

Love the newbie post Thank you Sazzie - Im just about to start my DMP journey (After getting the email paperwork over a month ago from Stepchange but keep putting it off!)

Ive received paperwork from Co -Op to set up my basic bank account I need to fill in... but I do have an old Lloyds account I dont use so would prefer to use that...
My debts are with Barclaycard, Nationwide, Asda CC, Virgin and MBNA.... are Lloyds connected to any of them?

Thank you

This is all I could find..
Lloyds Banking Group

• Cheltenham and Gloucester
• Lloyds Bank

Despite HBOS being acquired by Lloyds Bank, both HBOS and Lloyds Banking Group continue to operate under separate banking licences.


So looks like you would be ok using that account unless anyone else knows different?


Puzz. x