DMP & Mutual Support Thread - Part 10

System

neiljmuk wrote: »

All good, considering the very little time we've been doing this. ploppy57 and I will tag team Lloyds into submission! :j

LOL... we certainly will. Like you we also have MBNA debts, they wrote straight away and said stopping interest for 6 months and then do another review. BC have still not replied, other than to keep saying we owe them money. We have told them several times now the DMP details and this morning they rang to speak to hubby but when I said he wasn't in, she was happy to speak to me and I explained the DMP...again and she says it is now on the computer. Don't know about Argos, we don't have one with them, but we do have Debenhams who I believe may be owned by same bank....NewDay? Not heard anything from them yet.

phoenixx

Hello all

Just a quick update from me. Been doing lots of extra work as it is half term so off the main job and in with the odds and sods that I do to keep things ticking over at Phoenixx Towers. By working every day of my holiday I can generate a few hundred pounds and have spotted a debt that I could wipe out this week. However...this debt is 0% interest while the 'good' people at Barclays have decided to increase interest on two of our accounts with them! :mad: So new plan is to throw everything at these to get rid sharpish! Unimpressed was not in it when I rang them and was told that the interest rise came from a very complex set of mathematical circumstances. When asked to explain, I was told that I wouldn't understand if they tried to explain it. Clearly my tiny female brain is incapable of grasping their numerical brilliance. I will just add it to the complaint.

On a positive note, my part time employers have sent me to London for training so are feeding me and putting me up in a hotel. I am pretending to be on hols! :rotfl:

Hope everyone else is good xx

Sazzie23

phoenixx wrote: »

Hello all

Just a quick update from me. Been doing lots of extra work as it is half term so off the main job and in with the odds and sods that I do to keep things ticking over at Phoenixx Towers. By working every day of my holiday I can generate a few hundred pounds and have spotted a debt that I could wipe out this week. However...this debt is 0% interest while the 'good' people at Barclays have decided to increase interest on two of our accounts with them! :mad: So new plan is to throw everything at these to get rid sharpish! Unimpressed was not in it when I rang them and was told that the interest rise came from a very complex set of mathematical circumstances. When asked to explain, I was told that I wouldn't understand if they tried to explain it. Clearly my tiny female brain is incapable of grasping their numerical brilliance. I will just add it to the complaint.

On a positive note, my part time employers have sent me to London for training so are feeding me and putting me up in a hotel. I am pretending to be on hols! :rotfl:

Hope everyone else is good xx

Go Phoenix :T

I suspect the person you spoke to at Barclays didn't understand the -we charge you interest because - calculation and that's why they couldn't explain it, good luck with the complaint. Presuming Barclays repayment has got twds the minimum, that's what seems to generate the interest charges (along with the complex calculations of course:D)

Your holiday jobs sound impressive, and getting a bit of hotel pampering too, it's all good. Most impressive though is your signature, that debt is coming down v.nicely, good stuff. :T

neiljmuk

Sazzie23 wrote: »

Go Phoenix :T

I suspect the person you spoke to at Barclays didn't understand the -we charge you interest because - calculation and that's why they couldn't explain it, good luck with the complaint. Presuming Barclays repayment has got twds the minimum, that's what seems to generate the interest charges (along with the complex calculations of course:D)

Your holiday jobs sound impressive, and getting a bit of hotel pampering too, it's all good. Most impressive though is your signature, that debt is coming down v.nicely, good stuff. :T

If you are with SC can you not just tell em to stop paying BC and reduce the payment so that you can self manage BC alongside the SC setup. It sounds like I will need to fight dirty with them thats all.. Biggest concern is APs. Not having them on my file for 6 years after I'm debt free. CCJ early doors would arguably be better. Any advice re BC will be gratefully received.

Puzzcat

neiljmuk wrote: »

If you are with SC can you not just tell em to stop paying BC and reduce the payment so that you can self manage BC alongside the SC setup. It sounds like I will need to fight dirty with them thats all.. Biggest concern is APs. Not having them on my file for 6 years after I'm debt free. CCJ early doors would arguably be better. Any advice re BC will be gratefully received.

Hi,
Sc will treat all creditors fairly, they won't not pay one. If you want to do this you will need to go self managed. I have asked BC to default me and they won't. All the while I'm not being charged interest I will go with this but I'm ready to challenge ap/default further down the line. Not sure how long a ccj stays on your file but I think they are considered much worse than ap markers!
There are quite a few posts about bc and defaults etc on mse if you search the forum.
Puzz.x

neiljmuk

Puzzcat wrote: »

Hi,
Sc will treat all creditors fairly, they won't not pay one. If you want to do this you will need to go self managed. I have asked BC to default me and they won't. All the while I'm not being charged interest I will go with this but I'm ready to challenge ap/default further down the line. Not sure how long a ccj stays on your file but I think they are considered much worse than ap markers!
There are quite a few posts about bc and defaults etc on mse if you search the forum.
Puzz.x

Cool, I just thought you could make up some story about doing FF with BC or something and saying they are now by the wayside. Bit naughty I know. I think I might just have to get savings to balloon payment BC off early. A BT sharesave payout at current share price in just two and a half years time should do the trick! Then that's no APs in 8.5 years time - and that hopefully still a worse case scenario. Can think of better use for the money (getting interest in an ISA).

Would not be so concerned with long terms state of credit file if I had a mortgage. Wonder if Nationwide would still give me a Mortgage with APs if my new account with them has been handled meticulously at that point?

Dixi64

Hi folks - Sazzie recommended I join you as I'm just about to begin the journey to debt freedom via a DMP. I was a member of the very first DMP group back in 2007 and shamefully find myself back here again. But this time there will be no more credit for me ... my mantra will be aiming to be debt free but not complacent. Look forward to sharing the journey.

neiljmuk

Dixi64 wrote: »

Hi folks - Sazzie recommended I join you as I'm just about to begin the journey to debt freedom via a DMP. I was a member of the very first DMP group back in 2007 and shamefully find myself back here again. But this time there will be no more credit for me ... my mantra will be aiming to be debt free but not complacent. Look forward to sharing the journey.

Hi, just out of interest, did you clear your old DMP and get your credit rating back on track (after 6 year defaults etc etc) or somehow get more credit with defaults on your file? Always interested as I see my new DMP as a block (safety net) in terms of being able to get more credit.

Dixi64

Hi neiljmuk I completed my DMP in November 2013 and very quickly and without any problem got a cc from Natwest (I'd been banking with them since starting DMP initially with basic account then standard current account), then I got a loan from them, another credit card and eventually another loan. I really felt empowered each time they said yes as like you I thought I wouldn't be able to get anything. Once I started it was like a compulsion ... how far can I go ... how much will they lend me. Totally irrational and riddiculous but I simply couldn't stop myself, I have recently been diagnosed with depression and think low self esteem contributed significantly, almost saw the offer of money as a measure of my worth. I was turned down by Sainsburys for a CC and a loan so think I only got the credit from Natwest because my salary was paid in there so they didn't do a full credit check.

neiljmuk

Dixi64 wrote: »

Hi neiljmuk I completed my DMP in November 2013 and very quickly and without any problem got a cc from Natwest (I'd been banking with them since starting DMP initially with basic account then standard current account), then I got a loan from them, another credit card and eventually another loan. I really felt empowered each time they said yes as like you I thought I wouldn't be able to get anything. Once I started it was like a compulsion ... how far can I go ... how much will they lend me. Totally irrational and riddiculous but I simply couldn't stop myself, I have recently been diagnosed with depression and think low self esteem contributed significantly, almost saw the offer of money as a measure of my worth. I was turned down by Sainsburys for a CC and a loan so think I only got the credit from Natwest because my salary was paid in there so they didn't do a full credit check.

Ah, sorry to hear re the depression. Understanding the root cause of your 2nd debt blip for want of a better description should help this time around I'm sure. This place is the most helpful resource ever with very caring respectful and helpful posters. The rest of MSE forums are a little unforgiving if I do say so myself, but the self righteous idiots don't seem to have a pop on this thread