DMP & Mutual Support Thread - Part 10

racht

January2015 wrote: »

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.

My statement in April said the full amount of interest to be added was going to be £83 but when this months statement has just arrived they have only added £25 which was a big surprise.
It still says the full amount for next month for my last lot of BNPL so will see what happens when the June statement arrives. Not going to get my hopes up especially where Very are concerned!!

teeni

Sazzie23 wrote: »

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



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.

things are coming together nicely as you say, The Halifax account I had for many years and I have a letter saying that I need to upgrade to be accepted for an over draft so I have started the ball rolling on claiming this.


Paypal have contacted me today to say the reason the second Barclaycard have refused is they don't believe I am the account holder, they had my name spelt incorrectly on their records, I have to produce evidence to the local bank on Monday to show that the account is mine and they will reconsider. At the moment things seem to be going well so I don't feel confident enough to challenge the Barclaycard decision to charge 3 % interest, especially whilst i'm waiting for a decision on the second card. IM worried about rocking the boat but that isn't to say that wont change as things fall into place

Ali80

All this talk about BNPL has made me think.......my Argos Statement last month added £150 interest under "interest on your normal plan", which I assumed was outstanding deferred BNPL interest (although this is not clear from the statement).

They had previously written to me requesting minimum payments that are less than my SC payment amount. They now say I am in "SERIOUS ARREARS", which doesn't bother me...bring on the default...!! But I have no way of telling from the statement when the BNPL interest was stopped.

Am going to ring them to clarify and also try to get some interest refunded. Anybody had any experience with Argos re interest on BNPL deals?

Ali80

Ooh! Just checked my BC online account and SC payment was credited today!! Super-fast considering last month's shenanigans!

January2015

Ali80 wrote: »

Ooh! Just checked my BC online statement and SC payment was credited today!! Super-fast considering last month's shenanigans!

......she quickly rushes off to check our two BC accounts...:rotfl:


.......and yeh both credited. Clearly BC have sorted themselves out this month

January2015

Logged in Halifax to check whether SC payments been received. Not yet. But loan accounts show N/A so hopefully defaults they promised us are now progressing to actuality. Happy days

Ali80

January2015 wrote: »

......she quickly rushes off to check our two BC accounts...:rotfl:


.......and yeh both credited. Clearly BC have sorted themselves out this month

Haha! Amazing! How can something so small make us feel so content?!

January2015

Probably a daft question but I am just sitting here thinking about what happens if interest rates rise and my our mortgage / secured loan payments increase. I assume we just let SC know and they adjust [down] our payments to our creditors and the forecast length of our DMP goes up. Is that right?

It seems too simple so I wonder if I am missing something.

Sazzie23

January2015 wrote: »

Probably a daft question but I am just sitting here thinking about what happens if interest rates rise and my our mortgage / secured loan payments increase. I assume we just let SC know and they adjust [down] our payments to our creditors and the forecast length of our DMP goes up. Is that right?

It seems too simple so I wonder if I am missing something.

Yes that's just about how it works, you can do a review anytime by logging in and the system will calculate your new payment. Only occasionally do you have to even contact SC, if for example the payment changes so much the DFD extends by about 10 years.

Depending on your perspective on getting to DFD, I think you could do a review when a payment is high, like before a gas bill review, just before it drops, this then gives you a bit of extra wiggle room if you need it. Of course SC don't usually ask for evidence of bills ......

SpamTomorrow

Hello All,

First post. Ill start with a thank you as I have been lurking for a month or so and have read pages and pages of this this thread; loads of really useful information and inspiration that has helped me get to the point I am today - Day one, Self Managed DMP. There, I've said it. The number is 89,850, the result of about 15 years worth of stupid decisions leaving me with 7 credit cards, 2 loans and 6 payday loans.

I am basing suing the Nedcab self managed DMP as my template, really impressed with the quality of the info.

Ive spent the day getting myself super organised, account details, contact details, intial communication with creditors written, new bank account up and running etc.

Can anybody help me with account details for these guys?

Mr Lender
Payday UK
My Jar
Pechy

I want to make tokem payments, which I would prefer to do electronically for simplicity.

Apologies for asking a question on my first post but help appreciated.

Fitz.







First post. Started my self maanged DMP as of today