DMP & Mutual Support Thread - Part 10

January2015

I haven't heard from Very yet, but when I log into my account it still shows a credit limit of £4.6k and a balance available to spend of over £3k. Strange.

Lighthelamp

Quick question....I am expecting to receive some money soon (back pay from employers) which should amount to perhaps around £5000. I would like to use it to get rid of some of my debts (total £30k). I started the DMP with SC last November & so far so good. My intention is to contact individual creditors & ask for a full & final and see how far I can get, but what do I tell them about the money? do I say it is from employer or not? and do I inform SC? thanks

minkeymootoyou

I was moved over to Very's recoveries department NCO recovery, who sent me a friendly letter saying please forward your DMP details, then the Very rejection letter came. NCO don't reply to emails, Very advisors don't seem to know I'm on a DMP and were like "if you need help talk to Stepchange" I'm going round in circles *facepalm*

minkeymootoyou

minkeymootoyou wrote: »

I was moved over to Very's recoveries department NCO recovery, who sent me a friendly letter saying please forward your DMP details, then the Very rejection letter came. NCO don't reply to emails, Very advisors don't seem to know I'm on a DMP and were like "if you need help talk to Stepchange" I'm going round in circles *facepalm*

Now an email from Very says they have reopened my query. They don't have a clue what's going on :mad:

sourcrates

Lighthelamp wrote: »

Quick question....I am expecting to receive some money soon (back pay from employers) which should amount to perhaps around £5000. I would like to use it to get rid of some of my debts (total £30k). I started the DMP with SC last November & so far so good. My intention is to contact individual creditors & ask for a full & final and see how far I can get, but what do I tell them about the money? do I say it is from employer or not? and do I inform SC? thanks

You would be best served by telling them as little as possible, just say "a family member has made it available".

You should also contact your creditors yourself, thats the only way you can be sure of getting the best deal, do everything in writing, and dont pay anything until you have there conformation, in writing.

If the proposal is accepted, just inform stepchange and ask for that creditor to be removed from your DMP.

sourcrates

January2015 wrote: »

I haven't heard from Very yet, but when I log into my account it still shows a credit limit of £4.6k and a balance available to spend of over £3k. Strange.

It will remain that way, that's just how they work, if you tried to use the account, they would not accept new orders from you though !!!

January2015

sourcrates wrote: »

It will remain that way, that's just how they work, if you tried to use the account, they would not accept new orders from you though !!!

Don't worry - I'm not tempted to try and place any orders

Lighthelamp

sourcrates wrote: »

You would be best served by telling them as little as possible, just say "a family member has made it available".

You should also contact your creditors yourself, thats the only way you can be sure of getting the best deal, do everything in writing, and dont pay anything until you have there conformation, in writing.

If the proposal is accepted, just inform stepchange and ask for that creditor to be removed from your DMP.

thanks will do that!

phoenixx

January2015 wrote: »

Morning everyone - hope you are all well

No contact received from Nat West about the DMP, but the monthly statement dropped through the letterbox this morning and it shows 0% APR and zero charges - so I can only assume they have accepted the DMP offer and zeroed interest and charges

Good start to our weekend then

Nat West were one of our best. No contact but froze interest immediately and 3.5 years on they are still frozen and no charges. Next were our worst and went for a CCJ within 6 months of DMP starting (on a debt of £600 - if you look at my sig you will see this was a drop in the ocean!) Step Change (CCCS as they were then) advised paying them off and dropping payments to other creditors for a month to do this which we did. They were prob the worst with BC a close second. Helifax kind of reach the 4th circle (of hell!). MBNA were v.good too - zero interest and no charges.

alamaya

Hi all


bit brief but starting a dmp with stepchange soon


need to open new bank account etc


how do I do token payments in the meantime and do I have to ring them to tell them that's what im doing?


can a token payment be anything ie £20-30 on a £190 monthly payment?


thanks