DMP & Mutual Support Thread - Part 10

Sazzie23

joee wrote: »

Hello all,

I just had to come and tell you all that I have finally got confirmation from Stepchange to say that I am finally debt free!

:j :j :j

Thank you so much to you all, I was in a very dark place before I found the MSE forums and this lovely stupendous thread was and is truly a light in the dark.

I am going to still lurk but please know I have always got some kind and safe squishy hugs where needed / accepted.

Lucy xxx

Ooh amazing, so pleased for you, :T:T:T:j:j:j:j

See you've got nice shiny badge too:D

Sazzie23

teeni wrote: »

Thanks to everyone who suggested I contact the Halifax re their decision to stop charges and interest on the 2 current accounts but to continue to add interest on my loan account, I had a tell call this morning confirming that they would remove the interest they have added for this month and no further interest will be added, they explained it was to avoid a default on the account, but now confirmed that the account will be treated in the same way as the current accounts I had, also during the call they advised that I had a fee paying account and that the fee charge would be added on a monthly basis as that wasn't considered to be a fee or interest, the lady suggested down grading the account with immediate effect to avoid further charges being added, result.


I have also had a letter from Barclaycard (1) to say they will reduce the interest to 3% per annum, not stop it altogether is this normal?


I am still waiting for the second Barclaycard to explain why they accepted the offer on the first card but declined the offer on that one. hopefully they will change their mind


I think this has been a good day mostly

Great news re Halifax - but get rid of that fee paying a/c quick, unless it does something you need ?:eek: maybe consider going for Mis selling of fee paying account if it was something you didn't need.

Re BC they have some very complex way of working out interest using amount owed, amount you are paying back and something else no one can figure out, but 3% probably better than what you were paying. Some folk - but I'd have to say the minority - have managed to fight interest and get it killed completely, so if you've still got some fight left, worth giving it a try.
, Make sure HBOS give it in writing though, but yeah, sounds like a pretty good day.

ploppy57 wrote: »

After Ll***s had originally agreed to stop interest on the loan, saying it will be sent to recoveries dept and then had letter saying it will be defaulted,:) we have now had another letter saying that despite issuing a default notice etc etc and that if payment isn't made within 14 days they may send to a debt collecting agency etc etc.
I presume this is standard practice and nothing to worry about?

Yeah, still warning you about defaulting and not actually doing it - standard letter, file it but don't think you need to do anything as long as your usual payments are recorded.

racht

For anyone with Very on their DMP and BNPL items, I have just received my monthly statement and was expecting the BNPL interest to be added as have been unable to pay the BNPL items off as planned. The interest was a lot less then originally stated and it says the BNPL interest rates are charged for 5 statement periods (was on for 12 months) - so they have actually stopped the interest on this :eek: as this would take me to when my DMP was all agreed (hope all this makes sense)
I have my last lot of BNPL due to go on next month so will double check if this happens again- if they have it should only be 4 months interest added-which will be a lot better then expected.

teeni

Sazzie23 wrote: »

Great news re Halifax - but get rid of that fee paying a/c quick, unless it does something you need ?:eek: maybe consider going for Mis selling of fee paying account if it was something you didn't need.

Re BC they have some very complex way of working out interest using amount owed, amount you are paying back and something else no one can figure out, but 3% probably better than what you were paying. Some folk - but I'd have to say the minority - have managed to fight interest and get it killed completely, so if you've still got some fight left, worth giving it a try.
, Make sure HBOS give it in writing though, but yeah, sounds like a pretty good day.



The fee paying account has been downgraded and I received a letter via email from Halifax confirming the change and the agreement to stop interest on the loan account, Payplan has also confirmed they have received confirmation of their position in writing.


With regard to b/c my interest rate was 29.9 apr so 3% is a huge drop and will mean that the debt is reduced by 120 a month even after paying the interest.


Very have phoned today to confirm that they have stopped all interest on my catalogue account


Out of my nine creditors I have agreements on 7 of them, just waiting for Aqua and the Barclaycard transferred from Littlewoods has declined the offer,


Payplan have written to them again so fingers crossed they will change their mind any day soon x

Sazzie23

racht wrote: »

For anyone with Very on their DMP and BNPL items, I have just received my monthly statement and was expecting the BNPL interest to be added as have been unable to pay the BNPL items off as planned. The interest was a lot less then originally stated and it says the BNPL interest rates are charged for 5 statement periods (was on for 12 months) - so they have actually stopped the interest on this :eek: as this would take me to when my DMP was all agreed (hope all this makes sense)
I have my last lot of BNPL due to go on next month so will double check if this happens again- if they have it should only be 4 months interest added-which will be a lot better then expected.

Great news, should make quiet a difference to your DFD, nice to see Very playing nice. :T

teeni wrote: »

The fee paying account has been downgraded and I received a letter via email from Halifax confirming the change and the agreement to stop interest on the loan account, Payplan has also confirmed they have received confirmation of their position in writing.


With regard to b/c my interest rate was 29.9 apr so 3% is a huge drop and will mean that the debt is reduced by 120 a month even after paying the interest.


Very have phoned today to confirm that they have stopped all interest on my catalogue account


Out of my nine creditors I have agreements on 7 of them, just waiting for Aqua and the Barclaycard transferred from Littlewoods has declined the offer,


Payplan have written to them again so fingers crossed they will change their mind any day soon x

Things coming together nicely, did you have the fee paying account for long, was it something you needed? There is guidance on the MSE site how to claim a refund if it wasn't something you needed.

Re BC reduced interest, yes I thinks that's the reason a lot of folk don't challenge it, because it's cut substantially to what they were paying, doesn't mean you can't get it cut completely though

Re other BC not accepting, think Payplan will just say it's tough they wil have to accept it, a refusal t accept can mean it goes to DcA sooner so don't worry. Same for Aqua, though I think they usually accept.

Anyway all round looking good, brilliant start. Roll on DFD.

Karen777

hello dmp-ers -

well done Joee on your DF status! That's brilliant.

For the people asking about Hellifax - I have given up - it feels like they are trying to drive me mad - interest stopped on one account but not on cc - telephone calls with promises made that there is then no record of one month later - going round and round the houses - I literally have lost the will to fight with them about getting interest stopped on my cc debt with them - so good luck to anyone else but be prepared! I may go back to them at some point but for now I don't have the mental wherewithall.

BC - I am on reduced interest with them - 6% - so I think yes they have rates of interest depending on what your debt is and what you are repaying.

I have not been around for a week or so so just been catching up on everyones news - welcome newbies and hello oldies

My df journey has screeched to a temporary stop - life has 'occurred' on a few fronts so I need to go down to token payments for 2 or 3 months - just drafting letters to creditors. I'm gutted but don't really have a choice. Am dreading creditors responses as am not feeling too great. Hopefully things will be back on track in a couple of months and I'll start hacking away again but for now I'm just trying to keep my head above water.

Good to catch up on here though - always lifts the spirits and reminds me I am not alone.

blisteringblue

Happy Friday. A month into self managed, with 3 creditors (Barclaycard x 2 and Opus) back to token payments to force defaults and remove interest and not a peep out of any of them.

Was expecting a bit of mither but absolutely nothing.

I love my DMP, should have done it years ago.
:iloveyou:

SquirrelNuts

racht wrote: »

For anyone with Very on their DMP and BNPL items, I have just received my monthly statement and was expecting the BNPL interest to be added as have been unable to pay the BNPL items off as planned. The interest was a lot less then originally stated and it says the BNPL interest rates are charged for 5 statement periods (was on for 12 months) - so they have actually stopped the interest on this :eek: as this would take me to when my DMP was all agreed (hope all this makes sense)
I have my last lot of BNPL due to go on next month so will double check if this happens again- if they have it should only be 4 months interest added-which will be a lot better then expected.

Hi Racht,

That is very welcome news - I was expecting a few hundred £'s to be added to my account when my BNPL's get added in July/Aug so that will be a big boost if Very have frozen interest from the DMP start date...

Squiz

January2015

racht wrote: »

For anyone with Very on their DMP and BNPL items, I have just received my monthly statement and was expecting the BNPL interest to be added as have been unable to pay the BNPL items off as planned. The interest was a lot less then originally stated and it says the BNPL interest rates are charged for 5 statement periods (was on for 12 months) - so they have actually stopped the interest on this :eek: as this would take me to when my DMP was all agreed (hope all this makes sense)
I have my last lot of BNPL due to go on next month so will double check if this happens again- if they have it should only be 4 months interest added-which will be a lot better then expected.

Just to say - my Very statements are still forecasting the full BNPL interest. I phoned and asked if it would be stopped from the point I went onto DMP - they said no.

I am working hard with eBay sales to clear the balance before BNPL kicks in anyway, but just wanted to let others know they may not always be so nice about BNPL interest.

Growurown

Afternoon DMPers:wave: Congratulations on being debt free Joee.

Well another spanner in the DMP plan. OH was involved in a car accident, no injuries or anything like that, that's the most important thing, but the car is a write off:( There isn't any doubt that it was the other drivers fault, they pulled out of a side turning and hit OH so we should get the excess back. It's just such bad timing as OH is away a lot at the moment with work so it's proving difficult to find the time to go and find another car. We are going to have to pay for car hire for a few days until we get it sorted as the insurance won't pay car hire for much longer. So I'm not going to be able to pay the extra on the Halifax payment this month, but it's only a little set back and we will get it paid off eventually. Just got to stay focussed!