DMP & Mutual Support Thread - Part 10

B0B

Halifax refunded me all interest and charges on my CC, and also paid me for all phone charges and a good will cheque.


This was via FOS in Feb this year.

Solve-it

Hi all,
Our DMP first payment to SC is due to be collected on 01/06/2015.
I have written to all creditors and have heard back from most but not my main bank HSBC? odd.
Tonight I have recieved a default notice from PO moneysaying that legal action will commence if no payment made or no contact but I have written to them twice and its hard to get to call them as lines close at 6 and I dont get back from work.
Im loath to email as this could start a long trail of emails but not sure what to do as never been through this before.
I refuse to curl up and hide as want to got on with these payments until my better half is in a position to get ful time work again. I dont know the processes of creditors and it is a tad worrying.
Ive had to contact another creditor to give the inc and exp over the phone but I thought this was all done by SC??
I would rather now be ore proactive than reactive.
Any advice most welcome.

Triangle

Hi - thought I would poke my head round the door. I'm in the very early stages of setting up a DMP with Stepchange (start date 1/9 and still need to start token payments/advise creditors/finish setting up new bank) and feeling all kinds of scared - and oddly positive too!

I have tried to read back as much as I can on this thread but only at about page 60 so far!

Tx

SquirrelNuts

Triangle wrote: »

Hi - thought I would poke my head round the door. I'm in the very early stages of setting up a DMP with Stepchange (start date 1/9 and still need to start token payments/advise creditors/finish setting up new bank) and feeling all kinds of scared - and oddly positive too!

I have tried to read back as much as I can on this thread but only at about page 60 so far!

Tx

Hi Triangle,

You're in the right place - we have fabulous people on here always happy to help. (Notably Sazzie, TTFTM and Puzzcat, plus other regulars too - you know who you are :T:T:T)

Definitely do a couple of months of token payments so you can put an emergency fund aside. My washing machine went pop pretty much within the first month of starting my DMP and of course I had no credit cards left, so you never know how soon you have an emergency!

There's a good template letter to use a couple of pages back to write to creditors. The first couple of months will be a little bumpy but once you get through that period, things should be settling down nicely

I started my DMP in Feb and for the past few months everything has been extremely quiet contact wise. I've had the odd letter now and then, but generally all good :j

cheers,
Squiz

sourcrates

Solve-it wrote: »

Hi all,
Our DMP first payment to SC is due to be collected on 01/06/2015.
I have written to all creditors and have heard back from most but not my main bank HSBC? odd.
Tonight I have recieved a default notice from PO moneysaying that legal action will commence if no payment made or no contact but I have written to them twice and its hard to get to call them as lines close at 6 and I dont get back from work.
Im loath to email as this could start a long trail of emails but not sure what to do as never been through this before.

Hi,
What you have received will be a standard computer generated letter the creditor is oblighed to send to you, regardless of any other arrangement you may have with them.

Read it carefully, you will find it probebly says "we may commence court action" not we will, it's common for a creditor to not acknowledge your DMP at first, just carry on as you are, and they will respond eventually.

Sazzie23

glitterunicorn wrote: »

I have a question in regards to Credit Ratings/Mortgages if anyone can help me out.

I'm 25 at the moment and I don't have a mortgage. My credit rating is obviously shaky at looks to be the same for 6-8 years (I'm hoping closer to 6!).

I'd like to look for a house before that time but what are the chances of me being accepted for a mortgage? My DMP would be finished before I would consider this.

Do I need to wait the 6-8 years? Or is this done case by case? I'm not worrying too much just now but in 3-4 years I will be.

Hi Glitter

Sorry not really sure, maybe a post in the mortgage section of the board would give you some responses.

Things change though, so what is past and current may not be true in the future, so if you can't change your previous credit history, worry about it when you get there?

Sazzie23

Karen777 wrote: »

whaaattt? I have had sooo much trouble with hellifax (been through FOS as well) I have given up hoping for interest to be reduced ..... off to fund this article and maybe try one more time ....

Got a letter this week, charges finally stopped, although this is month 3 of token payments (circumstances not making a stand:(). Hoping this is my silver lining.

Good luck and don;t forget to quote the Lending Code as per January2015's posts.

Sazzie23

Triangle wrote: »

Hi - thought I would poke my head round the door. I'm in the very early stages of setting up a DMP with Stepchange (start date 1/9 and still need to start token payments/advise creditors/finish setting up new bank) and feeling all kinds of scared - and oddly positive too!

I have tried to read back as much as I can on this thread but only at about page 60 so far!

Tx

Hi Triangle, hopefully reading through the read will help you relax a bit and know more about what to expect. It is a really scary time but as Squizzer says, life keeps on popping up with unexpected surprises - sometimes not so good but people have had good stuff happen too.

Least you know where we are if something unexpected crops up. Welcome to the thread. :T

Sazzie23

Solve-it wrote: »

Hi all,
Our DMP first payment to SC is due to be collected on 01/06/2015.
I have written to all creditors and have heard back from most but not my main bank HSBC? odd.
Tonight I have recieved a default notice from PO moneysaying that legal action will commence if no payment made or no contact but I have written to them twice and its hard to get to call them as lines close at 6 and I dont get back from work.
Im loath to email as this could start a long trail of emails but not sure what to do as never been through this before.
I refuse to curl up and hide as want to got on with these payments until my better half is in a position to get ful time work again. I dont know the processes of creditors and it is a tad worrying.
Ive had to contact another creditor to give the inc and exp over the phone but I thought this was all done by SC??
I would rather now be ore proactive than reactive.
Any advice most welcome.

Hi Solve-it

I think most of us SC DMPers have had trouble at one time or another with SC info not getting to creditors (who knows why?).

I would contact all creditors to let them know you are on a SC DMP and quote reference. Send the letter signed for if any one in particular is bothering you. If they then let you know they haven't heard anything from SC, contact SC and ask them to resend details.

All creditors seem to have different processes, and automated letters will arrive at various times from different sources, like Sourcrates says you may just be getting their automatic default letters. If you've read the thread, you'll know already that defaults are good especially early on, make sure you are signed up for Noddle (its free) so you can check if they've actually issued a default.

Hope this helps, pro-active is good, but it can also drive you slightly insane as creditors are not always good at telling you what is really going on, sometimes you just have to sit back and let the cogs of finance whirr round slowly:eek:

Almostthere78

Karen777 wrote: »

whaaattt? I have had sooo much trouble with hellifax (been through FOS as well) I have given up hoping for interest to be reduced ..... off to fund this article and maybe try one more time ....

Do it! Good luck! They shouldn't say something in the national press if it isn't true