DMP & Mutual Support Thread - Part 10

Loulou1504

Hi,
I am currently in a DMP with Payplan with a year left and £3233.
I have submitted my PPI claims, had 1 which paid out and 3 are with the FOS since Jan 15. I have not received any statements from any of my accounts for several years from the companies involved (Barclays, Max Recovery x2, Natwest & Drydens Farifax). Should I be seeking CCA's as these all date back to 2006 time? I am considering offering F&F of 35% to all parities using the figures quoted on the PP website. Any advice would be greatfully received.

littlesprinkles

Hi there,

This is my first post here. I am gathering up some courage to call SC. I made my first payment this month, and my husbands income is £25 less than what it is on my budget, and despite all my best efforts I'm struggling to stick to our food budget, and I cook everything from scratch etc. My online account is saying that our payments would need to be reduced from £147 to £75. I hope to get employment ASAP, but I just don't want an IVA. Hope this makes sense, I'm so scared.

ETA: Well I just got off the phone and they totally agreed it, and I'm now sat here crying. They are so kind. I guess it's difficult when you have no one to discuss it with.

System

littlesprinkles wrote: »

Hi there,

This is my first post here. I am gathering up some courage to call SC. I made my first payment this month, and my husbands income is £25 less than what it is on my budget, and despite all my best efforts I'm struggling to stick to our food budget, and I cook everything from scratch etc. My online account is saying that our payments would need to be reduced from £147 to £75. I hope to get employment ASAP, but I just don't want an IVA. Hope this makes sense, I'm so scared.

ETA: Well I just got off the phone and they totally agreed it, and I'm now sat here crying. They are so kind. I guess it's difficult when you have no one to discuss it with.

Welcome.:beer: You are in the right place, especially if you need advice, a shoulder to cry on or someone to cheer you on.
Well done for taking the first step. SC are marvellous and will help you all they can. They are so easy to talk to.
There are people on this thread with loads more experience than me and will be able to offer you loads of advice. I only had my LBM in January, but you soon pick up all the tips and tricks.

Good idea to make sure you get your food budget right, that is the most important. It surprised me, once I looked into ours, how much we could actually do without....no more bulging cupboards and things going out of date.

Good Luck x:)

Gaia2014

Hi all,

I just thought I'd jump on this friend as this marks my first month of self administering my DMP... and around £8,000 worth of debt.

If all goes according to plan I will be debt free September 2016 (sooner if at all possible). I wish I'd started soon. But, better later than never.

So far the creditors have accepted my offer of payment having using the CAB's debt management templates. Thank you CAB .

I can't even begin to imagine what it will feel like to feel debt free. 18 again probably :rotfl: (I wish). That was the age I acquired my first catalogue and credit card (I had a lot to learn).

Life is too short for regrets. So here's to the future :beer:.

Ali80

Hi everyone,

My OH has landed a new (better paid) job! Yay!

I haven't included him in my DMP and was just wondering whether this extra income would be best used to make extra payments to my creditors? If so, could I split the extra pro rata and administer it myself not involving SC, or will this cause problems with SC or creditors?

Or is it better to save a bigger emergency fund or start to save for f+f settlement? Has anyone had any experience of this?

Thanks in advance,

Ali

Jon81

Any thoughts on a letter received today from my current account provider. Had previous notification of default notice unless settled within 7 days. Get another one today advising that payment hadn't been received and "this is unacceptable" giving a further seven days to pay or make acceptable arrangements or will consider further action which could include legal steps - should I worry or is this normal course of events am with StepChange so not like I'm not trying

Ali80

Jon81 wrote: »

Any thoughts on a letter received today from my current account provider. Had previous notification of default notice unless settled within 7 days. Get another one today advising that payment hadn't been received and "this is unacceptable" giving a further seven days to pay or make acceptable arrangements or will consider further action which could include legal steps - should I worry or is this normal course of events am with StepChange so not like I'm not trying

Hi,
As long as they have heard from SC regarding your payment plan I wouldn't worry. I had something similar last week from Natwest demanding that I pay my full oustanding debt within 3 days (od and loan totalling nealy £27k :eek:). I had already received default notices and letters threatening further action. So I rang them and quoted SC number, they were already aware of this and just advised me to stick to my payment plan. Interest and charges frozen and debt passed to recoveries team. Might be worth a phone call or letter if you're concerned.

AnotherDad

Hi all,

Another potential DMP'r... Ive just had an assessment with the CAB and it looks like a DMP is the best option. I have 34k of debt, most my lovely ex wife ran up before we split and ive spent the last 3.5 years keeping it afloat but something has to change and im making moves... Initial thought is do i go self or through a DMP specialist like stepchange?

Lots of researching, just hope i get through this!

Cheers,

lynns3cookies

Hi All... Just want to say how reassuring to have this forum.

I had ostrich syndrome to the point I lost my home and now have a 26k debt which was a secure loan I had hoped would solve my problems... Yes silly me. Anyway my first DMP payment due off to stepchange this week and I can start to make plans. Will be hanging around here too

tayajade

Thank you sazzie, unfortunately the previous employer keeps promising to pay bit says that there isn't any money available to do so right now. This is despite the fact that he is still trading and paying wages to the employees left! We are planning to go to tribunal, the fee is £150 which will eat into the overall payout but it's still worthwhile.

I hope that your situation improves for you soon!