DMP & Mutual Support Thread - Part 10

Pickle29

Pickle29 wrote: »

Hi
Thanks for the advice, put my mind at rest for a while - will let you know when I hear something. Fingers crossed x

Hi
Just letting you know that although we are on a DMP with several defaults, we have changed gas/ electric suppliers through the big switch! Even though they did a credit check! Woohoo! Just been asked for my meter readings!
So pleased ( after I was so worried!) :T:T

neiljmuk

Pickle29 wrote: »

Hi
Just letting you know that although we are on a DMP with several defaults, we have changed gas/ electric suppliers through the big switch! Even though they did a credit check! Woohoo! Just been asked for my meter readings!
So pleased ( after I was so worried!) :T:T

I think they are basic checks that look for CCJs and IVAs only.

I reckon you'd be ok with the majority of mobile phone providers. Things like football season ticket finance (gotta have some enjoyment / misery in my case), and even car HP finance.... Could be wrong, but utilities and things like credit checks for renting, if its just defaults are fine from what I can make out. All these things are not borrowing Money in its native form (you can get your season ticket deactivated, car repossessed, electric cut off, booted out of your house etc if you slip up) so makes sense......

neiljmuk

ploppy57 wrote: »

Well I had message online re my BC CC and they have confirmed 3%. I have replied back asking how exactly they think I will ever get it paid as at the end of a 7 year DMP I will still have a debt with them and be 1 month away from retirement. Asked if they can reconsider. Will see what they say. Still not had a reply re OH's 2 accounts.
Has anybody had any success when advising BC they are going to the FOS?

Tricky. They are quite rigid. Self managed and reduced payments for them are the way if the 3% ain't acceptable to you - but after a few months I'd suggest. Try and say you thought it was 0% and they might knock you a bit off you balance like me though.

Because the manager who dealt with my complaint can't add up her refund (now agreed btw!) means I pay about 2.2% interest now in real terms so thats 90% of what I pay will actually reduce the debt. Thats ok to me for a quiet life in the first year.

By the way, did you get Lloyds freezing interest in writing? Be a right result for you that will. It's my nightmare amidst an otherwise cracking start to life in DMP mode. Got my itinerary for that though as I've repeatedly banged on about on here.

January2015

Hello everyone

Quick DMP question - how do you know if your creditors have accepted the DMP set up by SC?

I know from MBNA accepted and stopped interest/charges because they wrote to us directly. (3 credit card accounts with MBNA)

I know Hellifax accepted but didn't stop interest/charges because they wrote to us (2 loans and 1 OD with Hellifax)

I know NatWest accepted and stopped interest/charges because they sent me a statement with zero per cent interest and no late fees etc. (1 credit card with NW)

I know RBS accepted and stopped interest/charges because they sent me a statement with zero per cent interest and no late fees etc. (1 credit card with RBS)

I know Barclaycard have accepted and on one account have zeroed interest and charges and on the other account have reduced interest to 3% - because of the statements online. (2 credit card accounts with BC)

I don't know whether Very even know about the DMP - I have had no contact from SC or Very. I've just had a statement from Very and a payment wasn't due (because balance was on Buy Now Pay Later and not due until May - I had been chipping away at it but didn't need to until May).

So - my question is, do SC let you know creditors have or haven't accepted?

January2015

Oops - just seen a note at the top of the Very statement this month which has never been there before - it says

"If you have a current arrangement to pay Mrs X you should continue to pay at your agreed rate"

I can only assume that refers to the DMP

However, what happens about the Buy Now Pay Later interest? If they are going to add that in May I would rather use some of our emergency fund to kill it and get rid of it

racht

January2015 wrote: »

Oops - just seen a note at the top of the Very statement this month which has never been there before - it says

"If you have a current arrangement to pay Mrs X you should continue to pay at your agreed rate"

I can only assume that refers to the DMP

However, what happens about the Buy Now Pay Later interest? If they are going to add that in May I would rather use some of our emergency fund to kill it and get rid of it

Hi- the BNPL interest will still be added as I've had one lot go on- I've got more to be added end of April which I would love to clear before the interest is added

babybaby1

Needing some help please. I wrote to Very/Isme asking to freeze the interest, been with stepchange since October 14, I sent the template, I got a letter back saying if having problems please forward details of how much I could pay etc, I wrote back explaing that I was already with Stepchange and making payments and that I was looking for the interest, but since then I have not had a reply and the statements have still had late payments fees etc added, where do I go from here? I also have a smilar problem with TSB credit card, have written to them several times but they are totally ignoring me. Would Stepchange be able to help? I have sent a letter of complaint to the financial ombusman as Very continued to call even when I asked for them to stop and write to me, they and TSB have been the most difficult.

Good news is that MBNA sent a letter saying that dispite being in arrangment, payments were up to date :-)

January2015

racht wrote: »

Hi- the BNPL interest will still be added as I've had one lot go on- I've got more to be added end of April which I would love to clear before the interest is added

Thanks - some account clearing to be done then. No way am I being slammed with 39.9% APR

It willhave to come out of my 'saving pots':cool:

sourcrates

babybaby1 wrote: »

Needing some help please. I wrote to Very/Isme asking to freeze the interest, been with stepchange since October 14, I sent the template, I got a letter back saying if having problems please forward details of how much I could pay etc, I wrote back explaing that I was already with Stepchange and making payments and that I was looking for the interest, but since then I have not had a reply and the statements have still had late payments fees etc added, where do I go from here? I also have a smilar problem with TSB credit card, have written to them several times but they are totally ignoring me. Would Stepchange be able to help? I have sent a letter of complaint to the financial ombusman as Very continued to call even when I asked for them to stop and write to me, they and TSB have been the most difficult.

Good news is that MBNA sent a letter saying that dispite being in arrangment, payments were up to date :-)

Hi,
Isme/very, are all part of shop direct group, many, many people complain about them on this forum, as they do not stop interest or charges, to date, I haven't seen a post from anyone who has succeeded with them, although now someone will prove me wrong !!!!

Only real advice, besides a written complaint to customer services, is that stopping paying usually results in the debt been sold on(eventually) and then it's easier to negotiate with the DCA that picks it up.

Little else works with them unfortunatly.

January2015

Hi

Very are part of my DMP with SC and currently set to receive £21.65 per month. If I make payments over and above this directly to Very will that cause any issues with SC ?

I want to clear the balance before interest is due to be added. There are 3 lots of buy now pay later (BNPL). First hits May, second June and third November. With a bit of scraping (and hopefully some good ebay/facebook sales) I think I could clear all this debt before the interest is added. I just don't want to upset SC.

Can I just update the balance for Very on my SC online account at the end once they are paid off?