DMP & Mutual Support Thread - Part 10

Karen777

welcome new folk and well done all - sounds like great progress is being made - and yep like Puzz said complaint to FOS, they are very helpful!

rattters

Hi everyone- thanks to browsing around the forum I have started a DMP with stepchange on 1st April. I have read that it can take a few months for everything to fall into place- but I am getting so stressed with the amount of letters from all my creditors- a lot of which don't seem to have any knowledge of my DMP, or who haven't received payment. Some have accepted the plan but are continuing to add interest because the payment is actually slightly more than the minimum payment- so they can't put the account into default and terminate the account.
I have spent so much time ringing them all up- trying to sort things out. Nearly all of them said they never received any correspondence from stepchange and they had to send it out again- and still some haven't received anything.
3 of them rejected the plan because of an inaccurate account number!
I feel like I am swimming through treacle and am so stressed- I feel like being on the DMP is making no difference to my situation as it will still take forever to pay off the debts if interest is being added.

It almost seems like I need to stop the plan, make token payments for a month or 2 - get all my accounts into default - then set up my own DMP.

Sorry for the negativity - but if anyone has any advice I would be most grateful

kb_soma

Ratters, keep calm. A lot of those letters are automated, if you're really worried give stepchange a call - a reassuring voice on the end of the phone can do wonders. It took a while for the letters to die down when I started my dmp with sc, and I think I was on the phone to them all the time. Once the creditors realise they are getting paid regularly, all this should stop.

One thing I do regret is not complaining when I thought some interest was too high. I would recommend doing this if you need to.

rattters

Thanks kb_soma - I think I will give them a ring

kb_soma

rattters wrote: »

Thanks kb_soma - I think I will give them a ring

I hope you're feeling better ratters

Sazzie23

Puzzcat wrote: »

Your best bet is to complain to the fos, you can do it online or by telephone.
Puzz.x

Financial ombudsman service in case anyone is wondering

It might be worth writing to the creditor first to complain, saying you are going to refer it to the FoS if they don't sort it out.

Depending in creditor and/or payment percentage over minimum is going to vary in result, but at least you can say you have tried.

Sazzie23

rattters wrote: »

Hi everyone- thanks to browsing around the forum I have started a DMP with stepchange on 1st April. I have read that it can take a few months for everything to fall into place- but I am getting so stressed with the amount of letters from all my creditors- a lot of which don't seem to have any knowledge of my DMP, or who haven't received payment. Some have accepted the plan but are continuing to add interest because the payment is actually slightly more than the minimum payment- so they can't put the account into default and terminate the account.
I have spent so much time ringing them all up- trying to sort things out. Nearly all of them said they never received any correspondence from stepchange and they had to send it out again- and still some haven't received anything.
3 of them rejected the plan because of an inaccurate account number!
I feel like I am swimming through treacle and am so stressed- I feel like being on the DMP is making no difference to my situation as it will still take forever to pay off the debts if interest is being added.

It almost seems like I need to stop the plan, make token payments for a month or 2 - get all my accounts into default - then set up my own DMP.

Sorry for the negativity - but if anyone has any advice I would be most grateful

Actually the idea about the token payments and defaulting us not such a bad one, however I have reduced my payments down to minimum due to financial circs, and some of mine still not defaulted or frozen interest, so it's not going to be automatic.

Remember a DMP is an informal agreement, it's designed to help us creditees repay our debts, it's not a total debt solution and it's not always easy. There are other options, but for some a DMP is the right solution.

If you are finding the start up a hassle, I can only say that reducing payments or seeking defaults could also be hassle, but you may decide its worth it.

I did find though, that SC told me they were writing to creditors with new agreement, but when I told SC BC hadn't received it, they said it hadn't been sent out, dunno why and don't have the energy to argue the toss. They are allegedly sending it now, and hopefully to all, but who knows what surprises lie in store :eek:

wen3

Hi All haven't been o. For a while but would like some advice and where better than here. Husband went into a DMP 7 years ago so defaulted (I assume this is right ) on all his credit cards then and started paying through step change but on his credit file it says he defaulted the Barclays account on the 5th Sept 2013 so when does the 6 year wipe off start from when he actually defaulted or the date on the file?

Karen777

Hiya - I think (and a wiser person may be along soon to correct me) that the default stays on the record for 6 years after the debt is settled....

Time_to_face_the_music

wen3 wrote: »

Hi All haven't been o. For a while but would like some advice and where better than here. Husband went into a DMP 7 years ago so defaulted (I assume this is right ) on all his credit cards then and started paying through step change but on his credit file it says he defaulted the Barclays account on the 5th Sept 2013 so when does the 6 year wipe off start from when he actually defaulted or the date on the file?

It will stay on his credit file for 6 years from the date of the default. It's a very late default and you could try making a complaint and requesting it is backdated to earlier in the DMP.

This thread:

https://forums.moneysavingexpert.com/discussion/5161646

has some good advice.

Please let us know how you get on

TTFTM x