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DMP & Mutual Support Thread - Part 10
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Just popping on to say Hi. I'm still reading, now up to page 165 so I will be able to join you all properly soon.
I received a secure message from Barclaycard saying they had heard from Stepchange and my payment is due at £44.04 on the 25th May. I was quite impressed that they had all the info without any prompting. Anyway, thought I'd share a little positiveness from BC
See you all soon
Carly xxxLBM 18/02/15
Stepchange DMP due to start 01/05/2015 :j
Current debt £377670 -
tequilabird wrote: »I'm feeling really disheartened this morning.
I had a good day yesterday and managed to get all my creditors to agree to my £1 token payments for a period of 3 - 6 months initially. I really thought I was making progress towards setting up a DMP and sorting myself out and then I posted on another thread about F&F settlements (just to try and make sense of it all) where I felt I was a bit knocked down for asking.
Feeling sad
Hi T,
:wave:
I posted on the main DFW page once and I felt very attacked by certain people. Since I found this thread, I haven't been anywhere else, they're all lovely here xx:TLBM 18/02/15
Stepchange DMP due to start 01/05/2015 :j
Current debt £377670 -
Time_to_face_the_music wrote: »We kept our BNPLs completely out of our DMP and saved to pay them off with adjustments to our budget and some ebay selling.
I know this advice isn't really useful to someone who has already included this type of debt in an existing DMP but it may help someone who is reading and thinking about taking the DMP route.
TTFTM x
As I mentioned above we have BNPL with Very and we did (unfortunately) include it in our DMP. We have 3 target dates when BNPL interest will be added; End March, End May, and End Oct (might be Nov....will need to check).
I am just going to do everything in our power to clear the required balances before interest is due without telling SC. This will be mostly done through eBay sales but I think I can just about scrape through. I will notify SC once the whole balance is cleared (through updating our debt figures online with SC).
Fortunately Very is our smallest debt (still just over £1k though :eek:)DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k :eek: Now debt free and happy :j0 -
Phone call from BC today, to say they have calculated how much interest will be added to the accounts, at the rate of 3%...and have agreed to refund us with that amount, so it is in fact the equivalent of 0% and they will then look at it again in 6 months time!:) So bit of a result there I think!This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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Hi- when Very started making loads of calls to me- from various different numbers, I went onto my account and just put a false number to stop them
The first statement I had after setting up my DMP did have interest added but I wrote a letter complaining about how I would never clear the balance etc if they didnt reduce interest and it was then frozen- I found a template letter on the National Debtline website- I then had a letter from their in-house recoveries NDR saying they were now looking after my account and that was it! Its been 7 months now and haven't heard anything else, I can still log onto my Very account as usual online, I get the monthly statements- from Very not NDR.
Just have to try and clear the BNPL items now, think I'm going to pay 1 item off at a time on the statement and still make the monthly payment as usual from Stepchange
I actually sent them an email and they confirmed they had removed my number, but they continued to call me, so breached financial ombusmans guides, which is why I ended up taking to them to the ombusman, because as far as Very/Isme was concerned, even though I asked them to remove and contact me in writing they ignored it. I did put a dummy in for TSB but they still call me on my mobile.I do have their number blocked.
I may try one more time for both, and if nither respond again, the I think the way forward is the ombusman again, the bank had promised to refund a payment from before xmas and did not, I had to write to them again about and did mention about the problem with the CC, but they appeared to have ignored it :mad:facing the music at last0 -
carlyfarley wrote: »Hi T,
:wave:
I posted on the main DFW page once and I felt very attacked by certain people. Since I found this thread, I haven't been anywhere else, they're all lovely here xx:T
Hey Carly,
Sounds like you and I are in a similar position, although I'm a little further behind than you!
We also have a similar amount of debt it would seem. Do you mind me asking what kind of payment you are making on your DMP per month? I haven't set mine up as yet, but want to get it sorted as soon as I can. PM me if you would prefer :j
You're right, this thread is much more encouraging!! :beer:
TB xxLightbulb Moment: 18/01/2015 :jCurrent Debt: 31,869.62 :eek:DMP Start Date: 01/09/2015DFD: TBC but sooner rather than later, I hope! :beer:0 -
carlyfarley wrote: »Hi T,
:wave:
I posted on the main DFW page once and I felt very attacked by certain people. Since I found this thread, I haven't been anywhere else, they're all lovely here xx:T
In fairness I think in the main they are trying to be helpful, they just don't understand how absolutely shattering it can be to be in a the position of needing a DMP and how their responses can affect the OP. I'm pleased so many folk have found us on the thread here. Welcome to any newbies
Ploppy re the retirement thing, I think it's a very good point and defo worthy of bringing it up in a complaint, though I suppose they'll say there is no compulsory retirement now :mad: oh I just read they've fixed it for you...great news :beer:
Baby baby, sorry you are having a tough time with very, some people with very seem to said through and others have complete battle. Keep complaining, Kate fixing it (where are you Kate) always used to say if you don't get results, go higher, in fact I think I recall her contacting a CEO of somewhere and getting a refund when no one else did:beer:
January, just keep paying off the BNPL where you can and updating the SC balance, I don't think anyone will notice to be honest. The sort of message you get on the statement though is typical of creditors contact, and you do have to keep your eyes peeled on anything they send for this sort of communication.
SJB, Hi, lots of SC users on here, they are not perfect but are free and a good starting point if you don't want to go it alone.
For anyone else reading this - reminder
*** Do NOT use a debt management company that charges you **** your money should only go towards paying debts in a DMP not a profit making company.
Tequila, re mortgage, don't panic, changing companies might be an issue, keeping the same one shouldn't be a problem, I ended up,with a better rate than I'd been on:T
Lucy - I think I'd run your current figures through the S c on line debt remedy and see what it advises, then you can decide whether to carry on self managed or go with whatever they suggest. If your finances have changed, they have changed, you can't fund a massive income drop like that without the unsecured creditors taking a hit.....if you could you wouldn't be on a DMP :eek:
Sorry I know there are a few questions I've not covered here, don't forget to read through the thread if you have time, many of your questions will have been asked before.Debt -it's a fight that I'm winning, dealing with debt one day at a time.
Estimated DFD August 2018 - 2031 - now 2027 :T
Guide dog Tess, missing Scotland 2 years
DMP support no438.0 -
Two steps forward, one step back
:(
Hi All,
I started looking at this page a couple of months ago due to financial difficulty and spoke to SC. We came up with a plan and I checked my finances and thought I could do this alone..... Now I have just found out my housing benefit is being cut by £200 a month and is going to really mess my finances up.
When I did a check with them when my partner started work, it said what I was entitled to. Now as it seem we get a little working tax credit, its being taken off my housing benefit plus more.
I am already behind with rent thanks to housing benefit stopping my payments whilst they re-calculated and as I have done all my figures based on the old calculation, I now know with the new one, I wont meet my rent this month. I am going to have to default somewhere else to pay this
When I spoke to SC they mentioned a DRO which scares me a lot :eek: and I have been trying to make extra cash on the side through some work at home schemes but at the moment, breaking even.
I dont know what to do, especially with my work at home plans I am trying to put into place for extra income. DRO scares the living daylights out of me. I negotiated with creditors about payments but now with the recalculation, I can nowhere near meet these.
Feel so sick going round in circles, thinking we were all sorted and now not
Hi,
A DRO shouldn't scare you, it's an excellent solution, if you meet the criteria.
All your unsecured debts can be included, you don't have to make any payments, your creditors are forbidden from contacting you, and after 12 months, your debts are written off, basically its all good !!!
I would urge you to look into it further, if your concerned about anything, speak to stepchange again.
There's no point struggling on when a solution exists that may work for you.
http://www.stepchange.org/Howwecanhelpyou/DRODebtrelieforder.aspxI’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
tequilabird wrote: »Hey Carly,
Sounds like you and I are in a similar position, although I'm a little further behind than you!
We also have a similar amount of debt it would seem. Do you mind me asking what kind of payment you are making on your DMP per month? I haven't set mine up as yet, but want to get it sorted as soon as I can. PM me if you would prefer :j
You're right, this thread is much more encouraging!! :beer:
TB xx
Hi
my total payment per month is £243 which means our dfd is about 12 years away. BUT, we both have a lot of overtime which I haven't declared so hoping to shorten the date. We have a 3 year old and a 6 year old, plus a very old car so it's an expensive time so I over estimated everything. The advice on here was to start low, we can always increase payments once we are settled.
we are making £1 token payments at the moment so trying to save like mad. First payment is due out on 25/5 .
Good luck on your journey, we can be twins! Keep in touch xxLBM 18/02/15
Stepchange DMP due to start 01/05/2015 :j
Current debt £377670 -
tequilabird wrote: »Puzz....you've just sent me into a whirlwind of panic! I don't plan on changing providers for my mortgage either, but is it likely that my mortgage will be affected when the fixed rate ends in September? :huh:
Thanks for all your amazing advice
Tequila, when my fixed rate came to and end, my mortgage provider moved us onto the standard variable rate (which was lower than the fixed one!). We now have the option to move to a new fixed rate with the same provider.
You will be fine as long as you don't want to move provider or increase your mortgage debt.
Ellie xDebt Free 1st March 2017
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