DMP & Mutual Support Thread - Part 10

January2015

ploppy57 wrote: »

They wrote to us and said would only drop it to 0% until they heard from SC....they seem to be having problems with one department knowing what the other one is doing, when I spoke to them the other day, they still didn't have any details on the computer about the DMP....and we have only had letters concerning my CC and nothing about OH's yet....he has forgotten his log in details so I can't check on them!

We haven't had anything in writing from BC yet for either of our accounts with them. Maybe it is only 0% pending acceptance of proposals from SC - I will just have to obessively compulsively log into our accounts each day and check:rotfl:

neiljmuk

My Barclaycard online page just says Minimum payment 0. Not sure what they are up to as d day was set as 18th in their letter advising the'd wait for SC correspondence.

lewpster

Phew response from Barclaycard whilst I was away apologising for the mistake, £101+ interest credited back to my account and interest reverted to 0%! Back under the 10k marker on this card now which isn't a huge milestone, but at least all my cards under 5 figures now and my debts are slowly going down

carlyfarley

Kate_fixing_it wrote: »

To all newbies...

Well done on getting this far! The days of living on a knife edge of fear and adrenaline are nearly over!

With regards to payment dates in my experience the creditors can shout and stamp and throw their toys out the pram all they like. SC pay on 25th. End of. Goodnight. They will eventually shut up and tow the line. One of mine states payment due 23rd. They get it on the 25th and never moan.

As for you paying SC call them and ask. I suspect it'll make the start date a month later but it's possible that you can pay via standing order. I think they hold on to any "late" payments and pay creditors the following month. The issue is that they have literally thousands of payments coming in that need to be split then sent to creditors. If you pay on the 15th that leaves 10 days for the finance department to do this. That will definitely include one weekend (and some months two) but as you're on the DMP wagon you now know that nothing is impossible

No matter what your creditors say the repayment plan will eventually be accepted. Think of them as a toddler screaming because they want another biscuit but the packet is empty. When mum/dad says no they throw a tantrum but it doesn't make biscuits appear! Said toddler can then either accept the situation or they ask Grandma (in this analogy the courts). Fortunately the courts are responsible and considerate "grandmas" and these companies know it! The courts will look at what it available, see that you have offered the last biscuit and most likely tell these screaming children they're getting all that is available and to stop it. They're left with two options, accept it or give up asking and sell the debt on. Most don't take the grandma route. They know it'll get them nowhere so they skip that step and either accept or sell on. This is a GOOD THING. DCA's are much easier to deal with and will happily make a meal with the crumbs.

Bit of a weird analogy but I'm sure you get it and hopefully it's given you a better sense of control on the situation. YOU are the parent and YOU are in control. They can't have what you haven't got end of story.

I won't promise that the first month or two will be fun or easy but I can promise it won't be as bad as you are imagining. I had all manner of scenarios running through my head. I was scared to answer my phone and door but now I have a real confidence in dealing with things. The first call I answered was the hardest but after that...Well, see above

You can do it! They're just as scared of what you will say as you are of them. There are real people at the other end of the phone who will actually be quite grateful for a polite, honest and up front conversation.

Kate x

Amazing advice Kate, you're an inspiration! I'm just setting up my safe bank accounts at the moment, but feeling confident x

Pickle29

Hi
I'm currently in year 2 of a DMP with 3 defaults and some AP on my credit file. we are looking at changing gas/ electricity suppliers - the local council is doing a big switch thing because they have got a good deal with the amount of people switching... They reckon they can save me £250 per year ... So far so good
I have clicked on the link and they say they will do a credit check as part of the process! Does this mean, when they see my credit file that we won't be able to switch and we will have to stay with our current supplier? Even though we have always paid all essential payments / utilities/ mortgage etc on time?
I'm worrying now as to what will happen next.
Anyone have any ideas?
Thanks

System

January2015 wrote: »

We haven't had anything in writing from BC yet for either of our accounts with them. Maybe it is only 0% pending acceptance of proposals from SC - I will just have to obessively compulsively log into our accounts each day and check:rotfl:

Spoke to BC today, they have said all CC's ( 2 of OH's and 1 mine), are set at 3% now and they will review again after 1 year. I will see how it goes and maybe write to them again in the future asking for them to put it at 0%....its not like we haven't paid them loads of interest over the years.

melysion

So, I called stepchange about my problem with my personal loan being from the same bank that I've been banking with. They suggest canceling my personal loan direct debit, letting things like my mortgage and utility bills go out and then take all my other money out and deposit in a new bank account which I can have open tomorrow (apparently) if i go in the branch. Quite apart from the fact that I can only draw £500 per day on my card (I'm not going in Lloyds bank itself - that would make me too nervous) it seems a horribly dishonest and underhand way of doing things. I am the one in the wrong here after all. I owe the money and should be paying it back at the agreed rate rather than trying to squirrel my money away before they can take it due to some "offset" policy I believe banks have.

Being someone who is extremely honest and probably way too idealistic for my own good, I'm going to find this really uncomfortable to do and then, no doubt, the horrible phone calls will start.

Oh well. All my own doing so no point complaining about it now. If I ever see a credit agreement again it will be too soon.

Could I have a tardis please to fast forward a few months so that the setting up and fall out is all over and done with? lol

January2015

Letters from Hellifax today - O/D payment offer accept, but they will still make monthly charges - so monthly charges for O/D will exceed the monthly payment via SC, so net result = increasing O/D figure

Puzzcat

melysion wrote: »

So, I called stepchange about my problem with my personal loan being from the same bank that I've been banking with. They suggest canceling my personal loan direct debit, letting things like my mortgage and utility bills go out and then take all my other money out and deposit in a new bank account which I can have open tomorrow (apparently) if i go in the branch. Quite apart from the fact that I can only draw £500 per day on my card (I'm not going in Lloyds bank itself - that would make me too nervous) it seems a horribly dishonest and underhand way of doing things. I am the one in the wrong here after all. I owe the money and should be paying it back at the agreed rate rather than trying to squirrel my money away before they can take it due to some "offset" policy I believe banks have.

Being someone who is extremely honest and probably way too idealistic for my own good, I'm going to find this really uncomfortable to do and then, no doubt, the horrible phone calls will start.

Oh well. All my own doing so no point complaining about it now. If I ever see a credit agreement again it will be too soon.

Could I have a tardis please to fast forward a few months so that the setting up and fall out is all over and done with? lol

Hi,
But you will be paying back what you owe, but hopefully without massive interest. I must have paid my original debt off at least 3 times if it wasn't for the stoopid l interest hikes. I do not feel guilty and will pay back what I owe now. They have had there interest already. You are doing really well, keep posting we are all here to help.
Puzz.x

January2015

melysion wrote: »

So, I called stepchange about my problem with my personal loan being from the same bank that I've been banking with. They suggest canceling my personal loan direct debit, letting things like my mortgage and utility bills go out and then take all my other money out and deposit in a new bank account which I can have open tomorrow (apparently) if i go in the branch. Quite apart from the fact that I can only draw £500 per day on my card (I'm not going in Lloyds bank itself - that would make me too nervous) it seems a horribly dishonest and underhand way of doing things. I am the one in the wrong here after all. I owe the money and should be paying it back at the agreed rate rather than trying to squirrel my money away before they can take it due to some "offset" policy I believe banks have.

Being someone who is extremely honest and probably way too idealistic for my own good, I'm going to find this really uncomfortable to do and then, no doubt, the horrible phone calls will start.

Oh well. All my own doing so no point complaining about it now. If I ever see a credit agreement again it will be too soon.

Could I have a tardis please to fast forward a few months so that the setting up and fall out is all over and done with? lol

I think you have to try and turn your thoughts around and view this from a different angle in order to come to terms and be happy with the process.

You:

• are not being dishonest
• are following the advice of qualified debt advisors (operating through a debt charity acknowledged and supported by banks and credit card companies)
• are not running away or avoiding your commitment to those debts
• do fully intend to repay those debts

The Banks and Credit Companies

• are, in part, as responsible for the situation you are in...because.....
• they continued to lend to you and encouraged you to build up debt beyond levels you could comfortably manage
• want to work with you to ensure they do get their money back and they know if you continue as you are, or you do not work with a charity such as SC, there is every chance they may have to whistle for a long time to see any return on their lending to you
• fully respect and work with debt charities such as SC

Once you can get you mind round to that point of view you may feel easier and more comfortable about going forward with the advice of StepChange.


The banks and credit card companies deal daily with thousands of people that take money from them and run and avoid repayment. Take comfort in knowing that you are dealing with your debt and not running away from it