DMP & Mutual Support Thread - Part 10

carlyfarley

Hi everyone, I've received a Termination letter from Barclays re O/D, demanding immediate payment or else. They've stopped the card etc.
I've also had two letters from Santander loan and O/D saying they accept and have frozen interest. However, the Santander credit card have rejected and also the Sainsburys card have rejected.
All fun and games! Does the termination letter from Barclays mean a default is likely? Keeping my fingers crossed!
Xx

Meatloaf1981

Barclays bank will default you quite happily. It is Barclaycard that won't. I am also paying off my overdraft. Annoyingly for me, with all the fees applied when I defaulted on it, the balance went from £4800 overdrawn to £5170 overdrawn. I am in the process of lobbying them for repayment of fees etc.

neiljmuk

blisteringblue wrote: »

You know I said the calm before the storm with my Barclaycard. Well Gale Force 10 today I've got my letter.

"Providing you maintain your monthly payments we've reduced your interest to 12.9% during this time"

"This is a concession on our part blah blah blah blah blah"

So you want to keep £94 of my £180 monthly payment when I'm on my knees trying to pay off my debts.

I'm so !!!!!!! cross it's beyond words. Stepchange can't (or don't want to ) do anything so self managed is coming a lot sooner than I planned.

Will let this months go out for 25th then I'll stop it and follow the NEDCAB scheme with their templates.

Then it's £1 a month Mr Barclaycard for as long as it takes. I'm prepared to go as far as court I'm that cross, but hopefully they sell it on well before then.

Anyway there is a little plus to going self managed, I gain a month's debt payment that will become a nice little instant extra Emergency Fund, as there won't be the 3 week delay between paying SC and paying the Debts.

So the next stage begins ..........

:mad::mad::mad::mad::mad::mad::mad::mad::mad:

Your BC strategy is a carbon copy of mine with Lloyds, subject to a negative response to my latest complaint letter.

9 creditors get advised that payments will remain as normal but being made by myself. I'll stick to 25th until they ask for reviews and make sure I have SOA's ready for the day. Then Lloyds Loan - token payments to break the agreement and force them to negotiate with me. The longer it takes I lose nothing because it all gets banged in savings!

January2015

Letter from RBS today - account defaulted and passed to debt collection agency :j:j:j:j:j

One down......may the rest follow swiftly;)

System

blisteringblue wrote: »

They don't seem to budge I'm afraid. I think some have had the odd success and get the odd bit of interest back but they really do expect us to pay interest as soon as you break the 1% barrier on payment to debt. I've just gone past 2% so it's up to 12% now. How does that help?

And there was me thinking it would all be easy now we had the DMP in place and they had all agreed to it.
I really don't want any more stress as it is always me that has to deal with it, :mad: as OH just doesn't have a clue, but I end up making myself ill when there is a stressful situation around!:(
Maybe the best thing will be if they start to add interest again in a year's time or so, I will just take BC out of the DMP and we will pay BC ourselves, but keep the payments at just over the 1%?? Obviously I will threaten them with the FOS first..
Of course there is the chance that we may win the lottery by then...:rotfl:, It is unforunate that BC are our biggest creditor...over £19k between the 3 CC's. Maybe I should just message them now and ask them to confirm that they will NOT be adding interest again at a later date....if the DMP carries on over the 7 years, I will be retired, so no chance of them getting their money then...:rotfl:

so_very_confused

I don't often post as wiser heads than mine on here and dont often seek help but just wanted to share my thoughts with some of you old time dmpers.
My dmp is fine, no interest, collecting defaults and a very liveable budget. Always have the ongoing anxiety of major catastrophe ie boiler, car but even that is liveable with.

Sooo my problem is I think I am suffering from dmp fatigue. Have been on t coming up 2 years although the first 6 months I accrued substantial debt due to the unreasonable dmp CAB devised for me..... but that's another story. Wish I had found this thread then!

Think I'm just a little worn with it all. I am constantly amazed and inspired by other posters who have exceptionally long DMPs and just wonder how they coped. Part of me thinks these feelings are inevitable now and again, as although all is going well you cannot help feel at times constrained.
Reading this through it sounds very self pitying not something I usually indulge in!
Hope its just a phase:)

svc

Sazzie23

so_very_confused wrote: »

I don't often post as wiser heads than mine on here and dont often seek help but just wanted to share my thoughts with some of you old time dmpers.
My dmp is fine, no interest, collecting defaults and a very liveable budget. Always have the ongoing anxiety of major catastrophe ie boiler, car but even that is liveable with.

Sooo my problem is I think I am suffering from dmp fatigue. Have been on t coming up 2 years although the first 6 months I accrued substantial debt due to the unreasonable dmp CAB devised for me..... but that's another story. Wish I had found this thread then!

Think I'm just a little worn with it all. I am constantly amazed and inspired by other posters who have exceptionally long DMPs and just wonder how they coped. Part of me thinks these feelings are inevitable now and again, as although all is going well you cannot help feel at times constrained.
Reading this through it sounds very self pitying not something I usually indulge in!
Hope its just a phase:)

svc

Hi SVC, Yup there is defo a lull, I think the actual timing of it depends on if your DFD is getting closer or shorter depending on life's rich tableaux. It is a taj inevitable, for me, the low DMP moments are improved by milestones, going down from £22k to £21k, reaching 70% paid, that sort of thing.

I think some others save up for a mid year treat, but I'll bet there a quite a few other ideas. It will pass though, and that DFD will be there sooner than you think.

Hopelessly_Hopeful

so_very_confused wrote: »

I don't often post as wiser heads than mine on here and dont often seek help but just wanted to share my thoughts with some of you old time dmpers.
My dmp is fine, no interest, collecting defaults and a very liveable budget. Always have the ongoing anxiety of major catastrophe ie boiler, car but even that is liveable with.

Sooo my problem is I think I am suffering from dmp fatigue. Have been on t coming up 2 years although the first 6 months I accrued substantial debt due to the unreasonable dmp CAB devised for me..... but that's another story. Wish I had found this thread then!

Think I'm just a little worn with it all. I am constantly amazed and inspired by other posters who have exceptionally long DMPs and just wonder how they coped. Part of me thinks these feelings are inevitable now and again, as although all is going well you cannot help feel at times constrained.
Reading this through it sounds very self pitying not something I usually indulge in!
Hope its just a phase:)

svc

Hi

I could go through all four seasons in one day. Checking in here on a daily basis defo got me through. As did setting small targets and milestones.

How much longer do you have to go?

HHx

so_very_confused

Hi Saxzzie and HH.

I know what your saying is absoloutly right, I think I'm just having a bad few days.

I have another three years on my dmp, which compared to many is a relatively short time.

It's probably because I've been off work for a few days with sickness. I'm in a job that has incredibly long anti social hours and possibly being under the weather had got me to thinkling another three years of this:eek:

I dare say things will look differently tomorrow.:)

Thanks for your replies.

sic

Time_to_face_the_music

Hi so very confused :hello:

I'm definitely with Sazzie and HH, it's all about setting small targets and reaching milestones. There was a big thread on the main DFW forum at one time about paying off 1% of your debt at a time, only problem is that 1% of our debt is £823.44! So I looked at paying off 0.01% which took me down to approximately £8 but it still felt significant when I saw the % paid off in my signature change every time I did it.

Hope you are better soon and things feel a bit brighter for you.

TTFTM x