DMP & Mutual Support Thread - Part 10

Puzzcat

Scaredofdebt wrote: »

Following this post I phoned them!! Was really scared but the man couldn't have been nicer. Not sure what I thought they were going to say to me, I'm supposed to be a grown up! Anyway very nice man said not to worry and interest would stay frozen even with token payments. Out of interest he said they wouldn't default my account until 7 months of reduced payments had been received. Does that mean they will then sell the debt to a DCA?

Hi,
Not necessarily, only 1 of mine was sold on but 5 out of 7 cc's have defaulted.
Puzz.x

Ellieseleven

joee wrote: »

Hi everyone,

I just thought that I would post a positive update for a change as I have hit quite a few milestones this month -

I have now paid off 92.245% of the total debt - this month is the first time I have entered the 90 percentile!
I have now paid off five figures or £10,054 to be exact!
I now only owe £752.23 so only triple figures
I have got money left over from doing the sealed pot challenge last year and I have put myself down for some overtime so will be able to pay the debt off a month early so I will be debt free for my birthday!
If all goes to plan I will make the last full payment to SC on the 1st March

Lucy xx

Fantastic news Lucy! The finishing line is certainly in sight for you. Well done!

Ellie xx

TimTheBear

Been on a DMP since June 2010 - in excess of 160k. Now its down to 25k. Debt free date according to stepchange is Feb 2016

Hang in there guys - theres alot worse out there!

System

January2015 wrote: »

Online statement arrived from MBNA today - 2 x £12 charges applied to the account:eek: Late fee and overlimit fee :eek:

I've contacted them and asked them to remove the fees as they had been notified of the SC DMP. Will see what happens

We have had the same problem with OH's Lloyds CC and also still getting charges on BC and H/FAx!

System

Scaredofdebt wrote: »

Following this post I phoned them!! Was really scared but the man couldn't have been nicer. Not sure what I thought they were going to say to me, I'm supposed to be a grown up! Anyway very nice man said not to worry and interest would stay frozen even with token payments. Out of interest he said they wouldn't default my account until 7 months of reduced payments had been received. Does that mean they will then sell the debt to a DCA?

Ooh that's interesting to think MBNA might default after 7 months, they have told us they will freeze interest for 6 months so maybe after that it will be defaulted...:D

Time_to_face_the_music

Scaredofdebt wrote: »

Following this post I phoned them!! Was really scared but the man couldn't have been nicer. Not sure what I thought they were going to say to me, I'm supposed to be a grown up! Anyway very nice man said not to worry and interest would stay frozen even with token payments. Out of interest he said they wouldn't default my account until 7 months of reduced payments had been received. Does that mean they will then sell the debt to a DCA?

ploppy57 wrote: »

Ooh that's interesting to think MBNA might default after 7 months, they have told us they will freeze interest for 6 months so maybe after that it will be defaulted...:D

I think this is one of those cases where you have to remember that every DMP is different. MBNA never charged us interest but we paid them lowered payments for a total of 31 months and they kept the debt in house and never defaulted us.

You win some and you lose some but remember to still fight every battle!

TTFTM x

Time_to_face_the_music

joee wrote: »

Hi everyone,

I just thought that I would post a positive update for a change as I have hit quite a few milestones this month -


I have now paid off 92.245% of the total debt - this month is the first time I have entered the 90 percentile!
I have now paid off five figures or £10,054 to be exact!
I now only owe £752.23 so only triple figures
I have got money left over from doing the sealed pot challenge last year and I have put myself down for some overtime so will be able to pay the debt off a month early so I will be debt free for my birthday!
If all goes to plan I will make the last full payment to SC on the 1st March


I know there are people who have just begun their debt free journey on here and there maybe times where you feel that you will never be free but I promise there is always a way out and this thread is a fabulous source of support whether you lurk (like I have done) or are able to post.


Lucy xx

Wonderful news Lucy, I am so pleased for you :j

Please come back and celebrate your debt free badge with us

TTFTM x

System

New Day...who manage our Debenham's card have added interest and late charges this month and informed me that we have broken the terms of our agreement as SC told them payment would start on 25th Feb!!!:mad:
There was never any mention on our part of starting in Feb, it has always been set up for March....wonder if they have told all our creditors that! Will have to contact them and check, am really annoyed if that is the case.

Ali80

melysion wrote: »

Good evening,

So, as some of you may be aware, I applied for a nationwide basic bank account last night. Got an email though saying that I needed to bring some ID to a branch. Work was a bit manic today so will be doing this tomorrow but, bizarrely, I got another email saying saying that my application has been accepted and that my card and PIN should be with me within the next 10 working days. I haven't shown them my ID so thought it a bit odd. Anyone had a similar experience?

Hi,
The exact same thing happened to me, I didn't go to a branch as I received telephone banking and online banking details within a few days. For what it's worth Nationwide have been really helpul on the phone too. I contacted them by phone to transfer 8 DDs and one standing order from NatWest and it was all sorted within a week.
Good luck!
Ali

Puzzcat

ploppy57 wrote: »

New Day...who manage our Debenham's card have added interest and late charges this month and informed me that we have broken the terms of our agreement as SC told them payment would start on 25th Feb!!!:mad:
There was never any mention on our part of starting in Feb, it has always been set up for March....wonder if they have told all our creditors that! Will have to contact them and check, am really annoyed if that is the case.

I had this from some of my creditors as well during set up. It wasn't actually stepchange' s fault the creditors had made the assumption that it would start the following month. Unfortunately you will get charges and late payments until the first full payment from sc goes to them. You can challenge them of course but they are within there rights to do this and its the long haul you need to focus on which is lots of frozen interest we hope!
Puzz.x