DMP & Mutual Support Thread - Part 10

Scaredofdebt_2

Hi everyone, I have a question. My DMP is set up with the first payment to SC on the 11th March - do I need to send another round of token payments that are due before the SC payment to creditors on the 25th March? Thanks.

ianmak

Scaredofdebt wrote: »

Hi everyone, I have a question. My DMP is set up with the first payment to SC on the 11th March - do I need to send another round of token payments that are due before the SC payment to creditors on the 25th March? Thanks.

I feel out of practice now, but from what I remember, it depends on when SC distribute the payments. My creditors used to receive my payments from PP around the 25th (I used to send it to them at the beginning of the month).


My instinct then is that you shouldn't need to send another payment, but maybe someone else with SC can advise...


Or give SC a ring!

Time_to_face_the_music

Scaredofdebt wrote: »

Hi everyone, I have a question. My DMP is set up with the first payment to SC on the 11th March - do I need to send another round of token payments that are due before the SC payment to creditors on the 25th March? Thanks.

It depends when your last full payment and any previous token payments were. You should make a token payment every 28 days from the date of your last normal payment until the first DMP payment is made by Stepchange on 25th March.

TTFTM x

January2015

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

Phone call from MBNA tonight. Lovely gentleman advised they had gone through my account and were more than happy to reverse the 2 x £12 charges on the account.

Result :T:T:T

System

Result from Lloyds Loan.... I think.....They sent me a letter asking me to ring them regarding the letter I had sent them asking them to stop the interest. She said they were unable to stop the interest even though they were happy to accept the SC payment. I asked how they expected us to clear the debt then, if they were going to keep adding interest?? She kept repeating that there was nothing they could do etc and I said Ok, but most of our other creditors have agreed to stop it. She then put me on hold and came back saying she had spoken to a manager and they were happy to stop the interest:) as long as I was happy for the account to be sent to the Recoveries Dept, which would mean I would get lots of letters as they legally had to keep sending them, but that I wouldn't need to do anything about them, as they are happy to accept the SC payment and by sending it to Recoveries dept it just means we can pay it off over a longer period of time ...(the loan was originally for 9 years and we had only paid 3, so the DMP will actually add another 7 and a bit years).

So I think this is a good result, I don't think being sent to the recoveries dept is a bad thing...out credit rating is stuffed now anyway, so it can't get much worse can it....:rotfl:

January2015

ploppy57 wrote: »

Result from Lloyds Loan.... I think.....They sent me a letter asking me to ring them regarding the letter I had sent them asking them to stop the interest. She said they were unable to stop the interest even though they were happy to accept the SC payment. I asked how they expected us to clear the debt then, if they were going to keep adding interest?? She kept repeating that there was nothing they could do etc and I said Ok, but most of our other creditors have agreed to stop it. She then put me on hold and came back saying she had spoken to a manager and they were happy to stop the interest:) as long as I was happy for the account to be sent to the Recoveries Dept, which would mean I would get lots of letters as they legally had to keep sending them, but that I wouldn't need to do anything about them, as they are happy to accept the SC payment and by sending it to Recoveries dept it just means we can pay it off over a longer period of time ...(the loan was originally for 9 years and we had only paid 3, so the DMP will actually add another 7 and a bit years).

So I think this is a good result, I don't think being sent to the recoveries dept is a bad thing...out credit rating is stuffed now anyway, so it can't get much worse can it....:rotfl:

Well done Ploppy :T

We haven't heard from Hellifax yet - I sent a letter about them continuing to charge interest on our loans and as yet no response

Scaredofdebt_2

ploppy57 wrote: »

Result from Lloyds Loan.... I think.....They sent me a letter asking me to ring them regarding the letter I had sent them asking them to stop the interest. She said they were unable to stop the interest even though they were happy to accept the SC payment. I asked how they expected us to clear the debt then, if they were going to keep adding interest?? She kept repeating that there was nothing they could do etc and I said Ok, but most of our other creditors have agreed to stop it. She then put me on hold and came back saying she had spoken to a manager and they were happy to stop the interest:) as long as I was happy for the account to be sent to the Recoveries Dept, which would mean I would get lots of letters as they legally had to keep sending them, but that I wouldn't need to do anything about them, as they are happy to accept the SC payment and by sending it to Recoveries dept it just means we can pay it off over a longer period of time ...(the loan was originally for 9 years and we had only paid 3, so the DMP will actually add another 7 and a bit years).

So I think this is a good result, I don't think being sent to the recoveries dept is a bad thing...out credit rating is stuffed now anyway, so it can't get much worse can it....:rotfl:

That's really good news Ploppy. I think it does make a difference speaking to someone. MBNA agreed to freeze interest and after getting the courage together to phone BC they have agreed too as have Hitachi. I think Next will be OK as they initially agreed £1 payment plan when I first spoke to them. Just waiting to hear from Natwest now and then will complain to Hfx as they will not accept Dmp. Looks like things are moving forward for us both :beer:

System

Scaredofdebt wrote: »

That's really good news Ploppy. I think it does make a difference speaking to someone. MBNA agreed to freeze interest and after getting the courage together to phone BC they have agreed too as have Hitachi. I think Next will be OK as they initially agreed £1 payment plan when I first spoke to them. Just waiting to hear from Natwest now and then will complain to Hfx as they will not accept Dmp. Looks like things are moving forward for us both :beer:

Thanks, it does look good for us both now, doesn't it?:D We have had good results also from MBNA and and but keep getting mixed results from BC...they seem to keep changing their mind, and one hand doesn't know what the other one is doing, so need to get something in writing from them once and for all. Interesting that we have about the same amount of debt...You have less mortgage than us though, we are at £86.886 with a MFD of 2025....:( but hopefully that can be brought forward, especially as our DMP should be finished by 2022 at the latest so maybe we can over pay for the last year or so and get it finished sooner.

minkeymootoyou

I received a letter from NCO Resolve, that now have my Very.co.uk debt. I have messaged them my DMP info and asked if I need to change the account that my payment goes into. Do I need to do anything else? Are they part of the same company ?

Their letter was friendly and understanding, unlike my Natwest ones, which say, heres a default letter that even though we know you're on a DMP, we have to send anyway. lol

Natwest and QuikQuid have stopped interest, Not sure about Very or Aqua yet.

abby1234519

Just checked PayPlan online and Halifax, Lloyds and Tesco have all accepted the payment offers. Got a letter from Lloyds today saying we accept the offer, and there will be a default etc. But a nice letter if that makes sense.

Still have Ikano and a few others left to accept but the big creditors have accepted. Around 9/10 k of the 15ishk. Big relief.

I on the other hand have got a new First Direct 0% for 27 months card so have balance transfered the dreaded Vanquis Card, and half of my capital one card. Simply Be is down to £35 which will be paid with a refund I am expecting.

My debt should take 3 years to pay off if i pay £170 a month however I plan to use part of our monthly budget, ie £40 for clothes. Put it all on credit card. Will save interest that way. Don't spend £40 a month on clothes anyway! Also am selling stuff to pay off my debts. Once mine have gone (hopefully in 2 years) I will continue building a contingency fund and when we have 6 months saved I will then start throwing money at the DMP.

I just feel so relieved. Just amazingly relieved