DMP & Mutual Support Thread - Part 10

so_very_confused

That's great news cmcavon:T:j:T:j:T:):j:T

Time_to_face_the_music

cmcavon wrote: »

I feel like I've had a milestone moment, our total debt has fallen below £20,000! We have got a very long road ahead of us and we are in a DMP for the long haul but it still feels good!

Oh we do love celebrating milestones here! :j

Well done cmcavon, that's a brilliant achievement :T

TTFTM x

Karen777

well done cmcavon! brilliant work....

cmcavon

Thank you everyone ��

I know it's really slow progress so far but it's progress all the same.

Woodypuddy

Hi all,

Many thanks on the F&F replies. It gives us something to consider. 12 months since I started my DMP has also given us valuable thinking time. We have enough equity in our house to pay off all our debts. We are therefore now considering downsizing our house to release the equity and pay everything off (but retain the LTV we have with out current mortgage). We would not want any extra amount on our mortgage. I am aware that my mortgage provider could (if they wanted) port my mortgage however they may not be willing to port mine due to my by now poor credit history and that they would recheck this as part of the process. Not sure whether they would even take into account the fact we wil be repaying all debt (I have never defaulted on the mortgage itself). Looking on the bleak side, assuming they won't, this would potentially mean that we would need to look at an alternative mortgage provider. Again I think this may well be limited but hopefully not non existent. I know on an earlier thread I have read that a good mortgage broker (as opposed to an estate agents one) is worth their weight in finding a deal for someone with poor credit history. My question is how do I find a good one? Never having been in this position before. Sorry for the rambling and all the ifs and buts. Just weighing up options.
Thanks all in advance

Time_to_face_the_music

Woodypuddy wrote: »

Hi all,

Many thanks on the F&F replies. It gives us something to consider. 12 months since I started my DMP has also given us valuable thinking time. We have enough equity in our house to pay off all our debts. We are therefore now considering downsizing our house to release the equity and pay everything off (but retain the LTV we have with out current mortgage). We would not want any extra amount on our mortgage. I am aware that my mortgage provider could (if they wanted) port my mortgage however they may not be willing to port mine due to my by now poor credit history and that they would recheck this as part of the process. Not sure whether they would even take into account the fact we wil be repaying all debt (I have never defaulted on the mortgage itself). Looking on the bleak side, assuming they won't, this would potentially mean that we would need to look at an alternative mortgage provider. Again I think this may well be limited but hopefully not non existent. I know on an earlier thread I have read that a good mortgage broker (as opposed to an estate agents one) is worth their weight in finding a deal for someone with poor credit history. My question is how do I find a good one? Never having been in this position before. Sorry for the rambling and all the ifs and buts. Just weighing up options.
Thanks all in advance

Try the mortgage and endowments forum:

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

There are several mortgage advisors who regularly post on there and you should be able to get some specialist advice.

TTFTM x

blisteringblue

Sig Update Day

Noticed when I clicked into SC for the statement it says my review is now due. It let me click tell me later though. How long can I get away without doing it? Already decided not paying them any more money and they are not going to like that.

BB

System

cmcavon wrote: »

I feel like I've had a milestone moment, our total debt has fallen below £20,000! We have got a very long road ahead of us and we are in a DMP for the long haul but it still feels good!

Well done....can't wait to get to that stage

Time_to_face_the_music

blisteringblue wrote: »

Sig Update Day

Noticed when I clicked into SC for the statement it says my review is now due. It let me click tell me later though. How long can I get away without doing it? Already decided not paying them any more money and they are not going to like that.

BB

A possible issue with delaying it is that Stepchange will not update your creditors and they may start charging interest etc as some insist on periodic reviews.

Can you do the review online and just "adjust" your figures to make sure it all adds up to what you want to continue paying?

TTFTM x

Karen777

minkeymootoyou wrote: »

had a letter from natwest about my missed loan payment, says i must pay it now or they will try and get all the money from me.

My dmp doesnt start til 10th feb, have they had notification from step change already?
I cant call them, i work all through their telephone hours, theres a email system but it says for general enquiries only, or the chat system. I have no printer at home, so cant post either. how should i contact them ?

Hi
If all else fails, hand write them a letter stating that you are working with stepchange and they will hear from them in due course. Post it when you can.
Don't worry about the letters they send you, just have a standard response ready to reply with.
Also they can't take what you don't have, and stepchange will work all that out for you.
Karen