DMP & Mutual Support Thread - Part 10

james_joyce

Hi all

Another acceptance today so I've now got nearly £40k covered with a total of £10 monthly interest, within payments of about £160.

Thanks a lot to everyone on this thread - both for your advice and for just being there!

Regards
James

jools35

Hi folks - thanks for the replies to my earlier posts....not had a chance to reply until now.

I've got forms etc from Stepchange and will complete them all but I'm still waiting on my new bank account details. As always these things never go to plan.

Did online application with RBS over a week ago. Called the call centre who told me to go into the branch with ID. Did that and the branch said they had no-one available to speak with me (wasn't told to make appt) but that they'd scan all my stuff and send it to the new accounts team. That was last Tuesday.....many phone calls later today someone has confirmed they have all my details, but because it was the branch that sent them they've muddled it up and thought it was a branch application instead of an on-line application so it's processed differently.....still with me? lol...Also I've been approved for a select account and the basic account i'd asked for. I've read on another thread that RBS are known for setting up accounts and then closing them days later when they fail a cvet. So, even if I do get new account details soon, I'm worried I'll start giving them out and then RBS close it....

My problem now is that I don't think there is going to be enough time to get my payroll details changed with my employer so my salary is going to go into my current bank. I had really wanted to change everything over for this salary. I have a dd due for a loan with my current bank and also an overdraft. Do you think I would get away with cancelling the dd for the loan using online banking and then trying to move my salary payment once it hits the bank on 27th? I could call the companies I need to pay as a one off and give my new dd details to them.

I really don't want to make this payment to my current bank if I can help it as it's almost 300.00 and I had budgeted on this to try and get some savings behind us before setting up the dmp.

Any advice or other way I could deal with this?

System

January2015 wrote: »

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:

We started about the same time as you and so far we have had letters from MBNA, saying they accept,
Lloyds & Halifax will accept for the CC's for 6 months and then want another review done but Lloyds say we have already broken the terms of the plan with regard to the OD as we haven't made a payment yet....:rotfl: I rang them up and explained first payment due in March and they said that's fine but SC need to resend the details, so I rang SC and they are doing that.
Lloyds loan say happy to accept and stopped all interest.
BC say they are happy to suspend charges/interest for 30 days until they receive the details from SC, although they have actually already received them but they are lost in a different department.:mad: So hoping they will be ok once it is all sorted, although I have heard bad things about BC, so not sure.
Not heard anything from Tesco bank or Debenhams store card.

System

jools35 wrote: »

Hi folks - thanks for the replies to my earlier posts....not had a chance to reply until now.

I've got forms etc from Stepchange and will complete them all but I'm still waiting on my new bank account details. As always these things never go to plan.

Did online application with RBS over a week ago. Called the call centre who told me to go into the branch with ID. Did that and the branch said they had no-one available to speak with me (wasn't told to make appt) but that they'd scan all my stuff and send it to the new accounts team. That was last Tuesday.....many phone calls later today someone has confirmed they have all my details, but because it was the branch that sent them they've muddled it up and thought it was a branch application instead of an on-line application so it's processed differently.....still with me? lol...Also I've been approved for a select account and the basic account i'd asked for. I've read on another thread that RBS are known for setting up accounts and then closing them days later when they fail a cvet. So, even if I do get new account details soon, I'm worried I'll start giving them out and then RBS close it....

My problem now is that I don't think there is going to be enough time to get my payroll details changed with my employer so my salary is going to go into my current bank. I had really wanted to change everything over for this salary. I have a dd due for a loan with my current bank and also an overdraft. Do you think I would get away with cancelling the dd for the loan using online banking and then trying to move my salary payment once it hits the bank on 27th? I could call the companies I need to pay as a one off and give my new dd details to them.

I really don't want to make this payment to my current bank if I can help it as it's almost 300.00 and I had budgeted on this to try and get some savings behind us before setting up the dmp.

Any advice or other way I could deal with this?

Sounds like your experience with RBS is similar to ours with Natwest...(owned by same company funnily enough). We also applied online and were told to take ID into branch. When nothing happened, I ended up making 3 phone calls to call centre at a cost of over £9 with promises of returning my call and it would all be sorted etc. Eventually I wrote a letter of complaint and was called within 24 hours with an apology and told that the branch had messed up the paperwork when they sent our ID in as they didn't put their branch stamp on it ....and nobody had thought to tell us. They refunded all my money I had spent on phone calls as well as some extra compensation. We now have a joint account with Nationwide...much less hassle to set up.
Good luck with sorting it out, worth a letter of complaint though, as it wasn't your fault it all went wrong

Ali80

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,

I received correspondence from Capital One within a week and Argos within about 10 days. BC sent me a secure message within 48 hours of me letting them know about DMP and have frozen my account for 30 days whilst they await confirmation from SC.

However....I also have credit with Natwest (2x credit cards, overdraft and loan) and Next. I have heard nothing from Natwest about any of my accounts (although my £1 token payment cheques have been cashed) and nothing from Next, they haven't even cashed their cheque.

Reading other posts on this thread I'm guessing that different companies respond in different ways and at different times. Quite frustrating really! My phone has been ominously quiet over the last few weeks but I'm going with SVC and Sazzie and am hoping that no news is good news! Guess we just have to sit tight :undecided.

Ali80

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.

I have a Natwest overdraft which is also about to go over the agreed limit once interest is added. I sent a token payment 2 weeks ago which has shown on my account but have had no correspondence from Natwest, so am guessing interest will be added as usual. I also have 2 credit cards that normally have interest added on 18th of the month and since I haven't made the minimum payment to cover the interest this month I will probably be charged a late payment fee and/or overlimit fee :eek:. I will be ringing them at the end of the week to request they remove the charges if this is the case as I'm pretty sure they would have heard from SC by now.

snpjaw

Good Evening All

I have had an active DMP since 2012 and should be DF by early 2017. My biggest outstanding amount is to Halifax on a credit card approx 5k at present so they have been receiving the biggest payment on the DMP, having been able to jiggle my budget around over the last couple of years I am now paying them more than my original contractual payment (so far they have not defaulted me on the DMP). They have noticed that I am now overpaying and have put interest back up to original rate of 29.95% :eek:, (they did write to me regarding this and I got in touch to say this may put me back into financial difficulty) obviously this is going to prolong things DMP wise but I'm reluctant to stamp my feet too much as I'm trying to be responsible about all of my debt and also hold a mortgage with them but just wondered if anyone else has experienced this?

Any advice appreciated, many thanks

January2015

ploppy57 wrote: »

We started about the same time as you and so far we have had letters from MBNA, saying they accept,
Lloyds & Halifax will accept for the CC's for 6 months and then want another review done but Lloyds say we have already broken the terms of the plan with regard to the OD as we haven't made a payment yet....:rotfl: I rang them up and explained first payment due in March and they said that's fine but SC need to resend the details, so I rang SC and they are doing that.
Lloyds loan say happy to accept and stopped all interest.
BC say they are happy to suspend charges/interest for 30 days until they receive the details from SC, although they have actually already received them but they are lost in a different department.:mad: So hoping they will be ok once it is all sorted, although I have heard bad things about BC, so not sure.
Not heard anything from Tesco bank or Debenhams store card.

Thanks for this info Ploppy:beer: I'm still worried now, because we have 3 MBNA accounts, 1 Halifax OD and 2 Halifax loans and we haven't heard anything yet. I phoned the Halifax financial support line number today and they haven't heard from SC yet. First they knew of our situation was my phone call today, and yet everything with SC was finalised last Tuesday. I still worry somethings gone wrong because everything else on our DMP set up journey has had a hiccup so working on s0ds law I think this final set up bit is bound to go wrong

Oh flip:cool::cool:

January2015

james_joyce wrote: »

Hi all

Another acceptance today so I've now got nearly £40k covered with a total of £10 monthly interest, within payments of about £160.

Thanks a lot to everyone on this thread - both for your advice and for just being there!

Regards
James

Well done James:T:T

I'm so envious - I know we will be in a similar situation soon, I just want to be up at the same point as you now :rotfl:

Scaredofdebt_2

January2015 wrote: »

Thanks for this info Ploppy:beer: I'm still worried now, because we have 3 MBNA accounts, 1 Halifax OD and 2 Halifax loans and we haven't heard anything yet. I phoned the Halifax financial support line number today and they haven't heard from SC yet. First they knew of our situation was my phone call today, and yet everything with SC was finalised last Tuesday. I still worry somethings gone wrong because everything else on our DMP set up journey has had a hiccup so working on s0ds law I think this final set up bit is bound to go wrong

Oh flip:cool::cool:

Hi January, it's not much consolation at the moment but SC did say it can take 28 days notification to get through to the right department. I know what you mean though, waiting is the worst.