DMP & Mutual Support Thread - Part 10

January2015

Hi Ploppy

From the StepChange website - info about defaults

System

January2015 wrote: »

Hi Ploppy

From the StepChange website - info about defaults

aaha...why didn't I see that.....thanks

January2015

ploppy57 wrote: »

aaha...why didn't I see that.....thanks

because you're not well at the moment

System

January2015 wrote: »

because you're not well at the moment

True....I was hoping I would feel up to going back to work tomorrow, but to be honest I am not sure I will. Think I might need the weekend to recover and be ok for next week....when I have overtime the first 3 days of the week:D I am ok if I sit still and in the warm, but as soon as I move I start coughing and it is an effort even to walk into the other room, I feel all achy:(. I had pneumonia a couple of years ago and don't want this going to my chest for a repeat performance, so need to get some positivity in my brain again....and to get better

Ali80

Hi all,

I've just swung from being super positive to back to how I was before lbm, feeling really miserable and not sure I'm able to cope with the whole process.............:(.

I've had an email from BC saying they will put my account on hold for 1 month until they hear from SC. Nothing from NatWest although they have cashed my token payment cheques (2x cc, 1x od, 1x loan). Have had a letter from Argos saying I'm in arrears, and nothing from Next (although they would have received my letter and cheque a week ago). Capital One have accepted DMP and token payments.

Kind of feel like I'm in limbo and don't know what to do next. What if some creditors don't respond? Should I contact them to see if they've heard from SC?

I also don't know what to do if I come into some money....is it better to pay creditors or save for F+F settlement (I am likely to get a small lump sum in November).

Sorry to be so miserable,

Ali

Puzzcat

Ali80 wrote: »

Hi all,

I've just swung from being super positive to back to how I was before lbm, feeling really miserable and not sure I'm able to cope with the whole process.............:(.

I've had an email from BC saying they will put my account on hold for 1 month until they hear from SC. Nothing from NatWest although they have cashed my token payment cheques (2x cc, 1x od, 1x loan). Have had a letter from Argos saying I'm in arrears, and nothing from Next (although they would have received my letter and cheque a week ago). Capital One have accepted DMP and token payments.

Kind of feel like I'm in limbo and don't know what to do next. What if some creditors don't respond? Should I contact them to see if they've heard from SC?

I also don't know what to do if I come into some money....is it better to pay creditors or save for F+F settlement (I am likely to get a small lump sum in November).

Sorry to be so miserable,

Ali

Hi Ali,
The set up of the dmp is the hardest part but it will settle down. I wouldn't worry at this stage about contacting creditors sc will pay them regardless. As to the sum of money you are hoping to receive if you don't need it for an emergency fund maybe if there's enough you could pay off a whole creditor. It may be too early to do full & final deals as you won't have been in the dmp very long.
Puzz.x

james_joyce

Ali80 wrote: »

Hi all,

I've just swung from being super positive to back to how I was before lbm, feeling really miserable and not sure I'm able to cope with the whole process.............:(.

I've had an email from BC saying they will put my account on hold for 1 month until they hear from SC. Nothing from NatWest although they have cashed my token payment cheques (2x cc, 1x od, 1x loan). Have had a letter from Argos saying I'm in arrears, and nothing from Next (although they would have received my letter and cheque a week ago). Capital One have accepted DMP and token payments.

Kind of feel like I'm in limbo and don't know what to do next. What if some creditors don't respond? Should I contact them to see if they've heard from SC?

I also don't know what to do if I come into some money....is it better to pay creditors or save for F+F settlement (I am likely to get a small lump sum in November).

Sorry to be so miserable,

Ali

Hi Ali

I understand that, I keep swapping between happy and miserable too. Like Ploppy I have been unwell and I have also been stressed about other things. I told my boss yesterday that I might need time off with stress. He was really nice about it all and some other things went well so yesterday picked up. Now today I am really p*ssed of with creditors asking me for stupid details far beyond what they really need. Maybe tomorrow will be better but right now I just want to hide!

Regards
James

Puzzcat

ploppy57 wrote: »

Ok, so I think I am either having a blonde moment....or I am just suffering with fuzzy brain due to being ill. When everybody talks of "default"...what exactly does that mean? We had a letter from BC to say they had added a £12 charge as we had defaulted & not paid the minimum payment last month, (even though we had written and told them about DMP/SC and paid £1 token payment, but that account is still having interest added.

So when you say once "defaulted" the interest normally stays frozen, can you explain please......:o ....sorry, I am really stupid today.

Hi ploppy, sorry to have confused you in your poorly condition. Whenever we do not pay the contracted amount of a debt we are defaulting. The difference is we want the creditor to officially default us which then starts the 6 years until the default falls off our credit rating. You will receive letters from all your creditors and it is difficult to know which have and which haven't actually registered defaults. This is where noddle (free) comes into its own as you can see for free who has defaulted you.
Puzz.x

Puzzcat

james_joyce wrote: »

Hi Ali

I understand that, I keep swapping between happy and miserable too. Like Ploppy I have been unwell and I have also been stressed about other things. I told my boss yesterday that I might need time off with stress. He was really nice about it all and some other things went well so yesterday picked up. Now today I am really p*ssed of with creditors asking me for stupid details far beyond what they really need. Maybe tomorrow will be better but right now I just want to hide!

Regards
James

Hi James,
Sorry you are also feeling stressed with the dmp situation. I would say if it gets to much please consider someone like stepchange who can take away much of the stress for you. Having a job is a blessing and rather important on our debt free journey so if it's all too much let someone else help.
Puzz.x

SquirrelNuts

Hi Ali,

As Puzz says this is the slow, bumpy bit for you now. I went through this stage a couple of months ago, and eventually everything came together,

Argos is one of my creditors.

I had a few letters warning of impending Defaults, Debt Collectors etc etc, but after a couple of months they accepted my DMP payment offer from Stepchange. (although are still charging me 9.9%APR - the only ones to be charging interest now)

A few of the other creditors haven't written at all - like nothing had happened - but they aren't charging interest, and when I phoned a few of them last month on a round robin they confirmed acceptance of DMP over the phone.

Squiz