DMP & Mutual Support Thread - Part 10

james_joyce

Sazzie23 wrote: »

Made me smile , I had to think about it DOH

Just been spreadsheeting and discovered I am at 60% (well 60.6%) or original debt which is 40% paid :j - and that means 50% is in sight this year...can't believe it really :eek:

Signature change coming up

James I think it shows why its important for creditors to keep a good relationship, its makes us more willing to want to pay, otherwise the temptation is to think 'up yours:mad:'. Maybe when you are feeling more chilled, try again with a different call centre person?

Yep, thanks Sazzie. I'm trying to chill now, looking at some cheap holidays

Puzzcat

:Twell done sazzie:T

tayajade

Hi all

Quick update from me regarding OH's redundancy. He had an interview on Friday and got the job! Needless to say it's a huge relief, they just have to negotiate pay on Monday. As I mentioned in my original post the job involves a commute, the pay is slightly higher but what they decide to put him will determine whether it covers the extra petrol or whether we will have to reduce our Dmp payments by 50 pounds or so.

A monthly train pass is coming out at £240 per month and then he would have to get a taxi to work! So we have decided to buy a little run around for me to do the school run locally and he can use the reliable car. We have seen some good little Ka's for around £600 , my in laws have kindly offered to lend us some of the money for a car until his redundancy pay comes through (which we are now having to fight for as the business is trying to avoid paying it).

I was planning to call payplan when I know the particulars around salary and explain that he was made redundant, has a job but that next month we will only be able to make token payments because we need to pay for a car to get him to work and for the petrol? Then the following month payments would resume as normal? Is that reasonable, the alternative is that if he doesn't take the job and nothing else comes up we wouldn't be able to pay anyway?

Thanks
Taya

Hopelessly_Hopeful

Sazzie23 wrote: »

Made me smile , I had to think about it DOH

Just been spreadsheeting and discovered I am at 60% (well 60.6%) or original debt which is 40% paid :j - and that means 50% is in sight this year...can't believe it really :eek:

Signature change coming up

James I think it shows why its important for creditors to keep a good relationship, its makes us more willing to want to pay, otherwise the temptation is to think 'up yours:mad:'. Maybe when you are feeling more chilled, try again with a different call centre person?

Fantastic news Sazzie, well done. Hope you are bearing up.

HHx

Ali80

SquirrelNuts wrote: »

Hi Ali,

I had exactly the same letter from Argos back in Dec following my £1 monthly token payments. I gave them a call and explained that I was entering a DMP with Stepchange and because I knew the amounts tor each creditor I also confirmed the amount they would be getting (which is a shade over a fiver). They couldn't set up the plan there and then as I wasn't starting until Feb but did put the account on hold.

I called them again in mid Jan where they set-up the repayment plan etc with me on the phone, and reduced interest to 9.9%

Squiz

Thanks for that Squiz. I'm still debating whether to ring them as I would rather they default my account as opposed to reducing the interest, I'm guessing it won't make much difference whether I ring them or not though.

I'm a bit concerned that they would be happy to receive £5 a month when my SC payment is going to be £45 (which is more than the minimum payment), I wonder whether this will mean that I'll struggle to get them to reduce the interest?

Ali80

james_joyce wrote: »

Hi Ali

I've not heard from Capital One yet. Did you get asked to provide them with any extra details like pay slips? It's just that when I receive the initial reply from each creditor they always seem to be more awkward than the last creditor! As I mentioned two of my creditors have asked for extra info so goodness knows what Cap One will say!

Regards
James

Hi James,
Cap One have been really good so far in my case. They didn't ask for any extra details, but I told them that I was with SC from the start. It may be different if self-managed? I sent them a secure online message about both accounts quoting my SC ref number and paid £1 into both accounts. Then I received a letter for both accounts acknowledging the payment plan and saying they are issuing a default notices and I don't need to do anything other than keep paying the agreed monthly amount. I also checked my online statements, the most recent of which said something along the lines of we won't add any interest or charges to your account if you continue to make the agreed monthly payments. I also found them very friendly on the phone.
Ali

January2015

Does anyone in this group use YNAB? I keep reading about it on these forums and it seems to have a lot of fans. I thought about downloading the trial but I wanted to see if people living on limited budgets on DMPs thought it was worth cost once the trial ends.

james_joyce

Ali80 wrote: »

Hi James,
Cap One have been really good so far in my case. They didn't ask for any extra details, but I told them that I was with SC from the start. It may be different if self-managed? I sent them a secure online message about both accounts quoting my SC ref number and paid £1 into both accounts. Then I received a letter for both accounts acknowledging the payment plan and saying they are issuing a default notices and I don't need to do anything other than keep paying the agreed monthly amount. I also checked my online statements, the most recent of which said something along the lines of we won't add any interest or charges to your account if you continue to make the agreed monthly payments. I also found them very friendly on the phone.
Ali

Thanks Ali, I will see what Capital One say. Hopefully they will just accept my offer. Apparently American Express always need bank statements but I've only heard that second hand (don't have them myself except a Barclaycard). Not sure if any other creditors always need them or if it's usually only a tactic that gets used on self-managed DMP-ers.

I find it really odd that over £25k of my debt now has payments accepted, but some of my smaller creditors haven't accepted and they're debating the minutiae of exactly how much I spend on cigarettes and dry cleaning every month.

Regards
James

Puzzcat

tayajade wrote: »

Hi all

Quick update from me regarding OH's redundancy. He had an interview on Friday and got the job! Needless to say it's a huge relief, they just have to negotiate pay on Monday. As I mentioned in my original post the job involves a commute, the pay is slightly higher but what they decide to put him will determine whether it covers the extra petrol or whether we will have to reduce our Dmp payments by 50 pounds or so.

A monthly train pass is coming out at £240 per month and then he would have to get a taxi to work! So we have decided to buy a little run around for me to do the school run locally and he can use the reliable car. We have seen some good little Ka's for around £600 , my in laws have kindly offered to lend us some of the money for a car until his redundancy pay comes through (which we are now having to fight for as the business is trying to avoid paying it).

I was planning to call payplan when I know the particulars around salary and explain that he was made redundant, has a job but that next month we will only be able to make token payments because we need to pay for a car to get him to work and for the petrol? Then the following month payments would resume as normal? Is that reasonable, the alternative is that if he doesn't take the job and nothing else comes up we wouldn't be able to pay anyway?

Thanks
Taya

Hi,


I think if you need to reduce the payment then you need to reduce your payment.. they can't have what you haven't got and things in life sometimes get in the way of debt busting. As its only for a month I can't see payplan having a problem with it, although maybe try and pay slightly more than a token if you can to try to stop the creditors kicking off..


I remember previously people have had to reduce payments for big car repairs and have written to each creditor with a copy of the garage receipt. Maybe you could do something similar?


Puzz. x

james_joyce

Hopelessly_Hopeful wrote: »

Fantastic news Sazzie, well done. Hope you are bearing up.

HHx

Hear, hear!