DMP & Mutual Support Thread - Part 10

Ellieseleven

Sazzie23 wrote: »

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

Fantastic news Sazzie, it's amazing how quickly you reach your milestones and the further along the journey, more come into view.

Ellie xx

tayajade

Puzzcat wrote: »

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

Thank you

Once a know the salary tomorrow I will work everything out and as you suggested I will try to pay more than just token payments.

Keeping my fingers and toes crossed for good news ��

January2015

Hi
Can anyone tell me how long it took from activation of StepChange DMP to receiving first letters of acceptance from creditors?

I am feeling a bit in limbo and wondering if anything is happening on either the StepChange or creditor fronts. I have this irrational fear that SC haven't sent any letters to our creditors and we will just get bombarded with calls and letters any day now

so_very_confused

January2015 wrote: »

Hi
Can anyone tell me how long it took from activation of StepChange DMP to receiving first letters of acceptance from creditors?

I am feeling a bit in limbo and wondering if anything is happening on either the StepChange or creditor fronts. I have this irrational fear that SC haven't sent any letters to our creditors and we will just get bombarded with calls and letters any day now

Hi January

It's a while ago but I don't remember all my creditors sending letters of acceptance. It did go quiet after the first few months no more calls or letters so assumed all creditors were happy with arrangement. A couple contacted to say they would review in six months but that was about it.
I know it's easier said than done but I would try not to worry, the onus is on creditors to accept any reasonable offer and you have the backing of SC. Can't promise it will be problem free but can't foresee any problem at this point.
good luck
svc

Sazzie23

so_very_confused wrote: »

Hi January

It's a while ago but I don't remember all my creditors sending letters of acceptance. It did go quiet after the first few months no more calls or letters so assumed all creditors were happy with arrangement. A couple contacted to say they would review in six months but that was about it.
I know it's easier said than done but I would try not to worry, the onus is on creditors to accept any reasonable offer and you have the backing of SC. Can't promise it will be problem free but can't foresee any problem at this point.
good luck
svc

Great advice from SVC, mine were the same, some did, some didn't - there is no set plan. Think 'no news is good news' and work from there.

January2015

Thank you SVC and Sazzie

I start to worry when I read that others who started their DMP journey about the same time as us are already receiving acceptance letters etc. etc. and we haven't. With SC having already got our application 'stuck' in their system and nothing happening to that until I chased on the phone, and then getting a 'we need more information before we can set-up your DMP' text message after I had been told it was all ok and activiated - I just feel a bit jinxed and unsure it's really going ahead as smoothly it should:(

I will try and work on the 'no news is good news' theory, but perhaps I forgot to mention 'Worry' is my middle name :rotfl:

BlueFuzzy

Does anyone have any experience with Natwest overdrafts? I got a text and email on Friday saying that they had been trying to contact me (I haven’t received any phone calls or letters though, so… I’m guessing the carrier pigeon didn’t make it? :P ). The email asks me to call them about my account. I sent them a letter within the last 2 weeks explaining that StepChange are setting up a DMP and I made a token payment of £1. They will have also heard from StepChange by now as I’ve had my letter to say the DMP is all set up to start on 1st March.

Today I’ve received an automated message that my account has gone over limit and will be charged a fee if I don’t pay into the account. This is due to the overdraft interest being charged, which means they haven’t stopped interest and charges yet.

Bearing in mind that they’ve already received correspondence from both myself and StepChange, is it worth calling them? I’m a little anxious about calling any of my creditors which is why I’ve been sticking to letters so far. However I’m also concerned that, while other creditors have already frozen my accounts and stopped interest, it doesn’t look like Natwest has done anything yet.

cydney11

Hi all

Congratulations to all starting out on DMP and those plodding on like me. I think I finally managed to set up signature and want to see if it appears in this post! I feel quite excited as have managed to save £1000 emergency fund, though am tempted to offer part of it as settlement for smaller debt. No, I know I shouldn't. Also would really like to clear debt by the end of this year instead of DFD of feb 2017. The only 1 still charging interest are 2x Barclay Card, so intend to further belt tighten and take any OT going, as would like to look into moving house 2016.

To 1 querying letters from creditors re: starting DMP I don't think I got any acknowledgement of acceptence unless sold to DCA

Cyd.

Puzzcat

BlueFuzzy wrote: »

Does anyone have any experience with Natwest overdrafts? I got a text and email on Friday saying that they had been trying to contact me (I haven’t received any phone calls or letters though, so… I’m guessing the carrier pigeon didn’t make it? :P ). The email asks me to call them about my account. I sent them a letter within the last 2 weeks explaining that StepChange are setting up a DMP and I made a token payment of £1. They will have also heard from StepChange by now as I’ve had my letter to say the DMP is all set up to start on 1st March.

Today I’ve received an automated message that my account has gone over limit and will be charged a fee if I don’t pay into the account. This is due to the overdraft interest being charged, which means they haven’t stopped interest and charges yet.

Bearing in mind that they’ve already received correspondence from both myself and StepChange, is it worth calling them? I’m a little anxious about calling any of my creditors which is why I’ve been sticking to letters so far. However I’m also concerned that, while other creditors have already frozen my accounts and stopped interest, it doesn’t look like Natwest has done anything yet.

Hi,


Sorry I was having a look back at my correspondence with N*twest and my overdraft. They charge interest a month behind so my statement from them shows a charge for the month despite SC and I being in correspondence with them, so I would say this is quite normal. They then wrote many letters advising of defaults etc and closing of the account. My start debt balance for the od was about £150 more than when I stopped using it. All then frozen so going down nicely now...


Puzz. x

BlueFuzzy

Puzzcat wrote: »

Hi,


Sorry I was having a look back at my correspondence with N*twest and my overdraft. They charge interest a month behind so my statement from them shows a charge for the month despite SC and I being in correspondence with them, so I would say this is quite normal. They then wrote many letters advising of defaults etc and closing of the account. My start debt balance for the od was about £150 more than when I stopped using it. All then frozen so going down nicely now...


Puzz. x

Thanks, Puzz. I think I'll hold off from calling them for now and see if I get a letter from them. I imagine my token payment letter is working it's way through their system anyway.

I've seen a few people here refer to them as N*twest. Is that because they're like Voldemort in Harry Potter; if you say their name they know where to find you?