DMP & Mutual Support Thread - Part 10

Ali80

Puzzcat wrote: »

Hi Ali, All going well I see..


With regards to N*twest, I wouldn't try and keep up with keeping within the od limit, they will stop once all the paperwork reaches the required destination.. I found with my loan I cancelled the dd, they reinstated it.. and so it went on.. then they did take the money but then it got reversed back.. I wouldn't worry too much..it will all sort itself out in time..


Puzz.x

Thanks Puzz,
Am just worried that natwest will somehow get my loan payment from me when I can't afford it anymore. My basic bank acount (where my money is finally safe and sound ) doesn't show natwest loan payment on DD list so hopefully they can go whistle for it!
Ali

January2015

Ali80 wrote: »

Thanks Puzz,
Am just worried that natwest will somehow get my loan payment from me when I can't afford it anymore. My basic bank acount (where my money is finally safe and sound ) doesn't show natwest loan payment on DD list so hopefully they can go whistle for it!
Ali

Ali - is your basic account with a bank you have a loan with ? If it is, get a new account you have no debts with at all.

Ali80

January2015 wrote: »

Ali - is your basic account with a bank you have a loan with ? If it is, get a new account you have no debts with at all.

No, I opened a basic account with Nationwide, and got paid into it on thursday. All going to plan, except Natwest being strangely quiet!

DanielleNic87

I am a long time lurker.... But thought I would share some good news.

BC have stopped interest they didn't actually notify me, I just happened to log in to check my statement.

All creditors now 0% and not receiving any calls/ threatening letters.

Sazzie23

DanielleNic87 wrote: »

I am a long time lurker.... But thought I would share some good news.

BC have stopped interest they didn't actually notify me, I just happened to log in to check my statement.

All creditors now 0% and not receiving any calls/ threatening letters.

Yeah great news, :beer: and shows the benefit of good practice of checking your accounts and not just relying on a DMP statement.

spot3

DanielleNic87 wrote: »

I am a long time lurker.... But thought I would share some good news.

BC have stopped interest they didn't actually notify me, I just happened to log in to check my statement.

All creditors now 0% and not receiving any calls/ threatening letters.

That's great news

spot3

It's a good day in the Spot household, I've been covering for a colleague so I've been managing 17 people instead of my usual 10 for a while (and working a lot of extra hours). My boss has given me a £500 spot bonus to say thank you! I can't throw it at my debt as this month is my last payment and it's not a full one!

Celebrating today by using some of it to cook a full on roast for some friends that have been supportive through my DMP and my severe depression. I'm looking forward to cooking something that isn't value pasta for a change!

January2015

So, we are gradually hearing from our creditors that they have accepted the DMP and offers of reduced payment via StepChange. All good so far then. Except Halifax have advised that interest will continue to accrue on the 2 loans we have with them and as we are paying less than the agreed monthly repayments this will increase the balance of the loans.

They also say they only accept the reduced payment offer for a period of 6 months and then will expect all arrears to be brought up to date and for the full agreed monthly repayments to recommence:rotfl: - er.....did they not read our SOA that SC sent them;)

Does anyone think it's worth writing to Halifax and asking them to freeze the interest because if they don't we will never, ever repay the loans - or should we just wait it out and hope they default the loans and pass them to a DCA?

Woodypuddy

Hi all, I have a DMP with step change that covers 6 creditors, 2 x MBNA (now passed to DCA), 2 x BC, 1 x Tesco, 1 x New Day.
I may be receiving a bonus payment through work. What is the general view of trying to do a full and final with just 1 or 2 of the creditors?

Is that frowned upon (there would be nowhere near enough to sort them all).

Would those I didn't approach potentially start charging interest again? Even though the monthly amounts would go up? Would they find out?

Thanks in advance

System

DanielleNic87 wrote: »

I am a long time lurker.... But thought I would share some good news.

BC have stopped interest they didn't actually notify me, I just happened to log in to check my statement.

All creditors now 0% and not receiving any calls/ threatening letters.

Ooh that's interesting with BC...hoping that happens to us as I have heard BC tend to be one of the worst. Can I ask how much you had with them and how long you had been paying etc? BC are one of our biggest as OH had 2 cards with them and one of them was £11k! IF they don't stop the interest it will take us forever to clear it:(