DMP & Mutual Support Thread - Part 10

Karen777

hey triangle, I know what you mean. I wrote a letter to my bank apologizing and telling them I was doing everything I could to pay them back the money I owed. Some people might think that's crazy and who knows what the people at the bank thought when they read it but it was really important to me to say it and it made me feel better. I really don't think anger and being let down come into it for them though so go easy on yourself. They are a business. But I do know what you mean.

And Rooster - Halifax are hideous but just keep making the payments through Stepchange and let them do whatever they need to do. Some banks only 'accept' debt management plans for 6 months so this might be what's happening. They will still accept your money though.

Karen777

oh and squiz - yikes - sneaky b@ggers! good luck with your request to get the interest stopped.

Sazzie23

Rooster01 wrote: »

I'm back to feeling really depressed.....Halifax rejected 6 month review and according to Stepchange they queried budget but nothing has changed. When I approached Halifax they said last documents received was December 2014.....feeling really stressed and worried now.....didn't sleep a wink last night!

No idea what's going on....

Keep the faith, it's a hitch, you're having a wobble, it's not always meant to be easy but you will get through it.

Halifax will have 'rejected' because they say they haven't had the details, ask SC to send the details again to them, write to Halifax to tell them this is what you've done. It'll all be ok, carry on paying get what you pay.

Triangle wrote: »

I woke up and was close to tears in the middle of the night last night and I haven't even started the DMP yet. It might sound silly but I feel so incredibly guilty to my bank! (or old bank I should say as in the middle of getting a new account with a new one).

I have been with them for over 15 years. They are our biggest creditor by a long way and I feel so sad and guilty that I have messed up. I keep thinking how angry they are going to be and how I have let them down.

Tx

Doesn't sound silly at all, think we've all been there at one point. Think of it as a bereavement (now who sounds silly) but you're losing what has probably been a long relationship, you thinks they will be disappointed in you, and who ever wants to disappoint anyone we like?

I think they'll be sad too, but I think the people at the bank will be disappointed that you've had to end up in a DMP and they let you get into this. Not sure of your circs (no time to read back at the mo), but I don't expect you wanted things to end up this way.

On a brighter note, you've taken action to prevent further losses to the bank. You're doing a DMP which means you will pay it back, and you've clearly got a good conscience, don't let it get you down, you'll get through and the bank will move on.

Have a good day everyone.

Ellieseleven

Triangle wrote: »

I woke up and was close to tears in the middle of the night last night and I haven't even started the DMP yet. It might sound silly but I feel so incredibly guilty to my bank! (or old bank I should say as in the middle of getting a new account with a new one).

I have been with them for over 15 years. They are our biggest creditor by a long way and I feel so sad and guilty that I have messed up. I keep thinking how angry they are going to be and how I have let them down.

Tx

I remember those feelings oh so well! I had been with my bank for 25 years and the guilt hung over me for weeks, how I was being dis-loyal after everything they had done for me (loan, mortgage, credit card and overdraft).

Those feelings of guilt soon disappear when you realise that they don't give a fig about you and my old bank were one of the worst for applying interest in the early days.

Triangle, you have to do what's best for you and believe me once your DMP settles in, your loyalty is with yourself and you have nothing to be guilty for.

Take care
Ellie xx

Bananas777

Also, another tip. I managed to reclaim PPI taken out for the loans in my DMP. I got a lump sum of around £500 last year using a company called Srake your Claim who work with Payplan. x

sourcrates

Bananas777 wrote: »

Also, another tip. I managed to reclaim PPI taken out for the loans in my DMP. I got a lump sum of around £500 last year using a company called Srake your Claim who work with Payplan. x

Did they take a cut of your money ?

Fee:
this relates to our fee of 12% plus VAT of the compensation payable to Stake Your Claim for the services carried out by it. Example 1: If we recover compensation of £2,000, our fee would be £288 (inclusive of VAT) and you would receive the balance of £1712 Example 2: If we recover compensation of £2,000 which is off-set against your arrears, our fee would be £288 (inclusive of VAT) and your liability for the credit would be reduced. Where you are unable to pay this amount in full upon receipt of our invoice, Stake Your Claim will discuss with you, your options regarding settling our fees. Decisions will be made on a case by case basis.

Yikes, yes they did, you can reclaim yourself for the cost of a stamp, never a good idea to use a 3rd party re-claimer, they are probably affiliated to payplan.

Jono987

Hey everyone hope your all doing well!

I got a letter from Halifax after asking for interest to be stopped again. The letter said that was my payments are quite close to the normal monthly payments interest will continue to be charged and that halifax are letting me do reduced payments to hopefully then recover in the future.

It goes on to say that they will pass it to recoveries if i wish but i will then be defaulted and my CR will be effected. Do you think i should ask them to do this? Im hesitant as i dont want to be defaulted and then they still charge interest.

Thankyou!

Wont_be_beaten

Triangle wrote: »

I woke up and was close to tears in the middle of the night last night and I haven't even started the DMP yet. It might sound silly but I feel so incredibly guilty to my bank! (or old bank I should say as in the middle of getting a new account with a new one).

I have been with them for over 15 years. They are our biggest creditor by a long way and I feel so sad and guilty that I have messed up. I keep thinking how angry they are going to be and how I have let them down.

Tx

I felt the same as you originally, I had been with our bank for nearly 30 years.

I thought they had always been there to help, but when I really thought about it we had probably paid thousands in interest and charges.

Towards the end when we were really struggling my husband went into the bank for help. He came out with a bigger re-financed loan and another credit card!!!

We will have repaid every single penny soon, 3 credit cards, bank loan and overdraft.

The bank sold all our debts to a collection agency probably for a fraction of the amount. They obviously saw us as just an account and were happy to get rid of us rather than have faith and receive the full amounts. Please do not beat yourself up as I am sure you too are determined to repay the bank in full.

I wish you all the very best for your journey to becoming debt free.

Almostthere78

Jono987 wrote: »

Hey everyone hope your all doing well!

I got a letter from Halifax after asking for interest to be stopped again. The letter said that was my payments are quite close to the normal monthly payments interest will continue to be charged and that halifax are letting me do reduced payments to hopefully then recover in the future.

It goes on to say that they will pass it to recoveries if i wish but i will then be defaulted and my CR will be effected. Do you think i should ask them to do this? Im hesitant as i dont want to be defaulted and then they still charge interest.

Thankyou!

Hi Jono987
Send them a copy of the article in The Guardian that is a few pages back on this thread. Halifax said EXACTLY the same thing to me but when they have claimed to do something in the press then it's difficult for them to then not follow through. Has your CR already been affected? If so then I think I would be tempted to have it passed through to Recoveries - mine went to Robinson Way and I have found them OK to deal with.

Jono987

I actually sent a letter with that article just last week :rotfl: not sure if they will have it or not yet. Had no phone calls but I asked that all correspondence be in writing.

Did Robinson way stop all interest for you? My credit file says dmp on it I believe.