DMP & Mutual Support Thread - Part 10

Sazzie23

Karen777 wrote: »

I have had a bit of a change of events as well - I wrote to all my creditors saying I was reducing payments due to x,y and z and basically sat back and waited for bad things to happen (despite having been doing this for two years I still get the fear every now and then) and have heard from all of them (by letter as requested) have had interest stopped temporarily by MBNA and i&e forms from all creditors - now I'm trying to forget that they have had all this before and the positive I am taking is that even hellifax have sent an i&e form (I have had an ongoing battle with them to even accept I am struggling so this feels like a major breakthrough).... so I'm seeing this as the start of phase three of my dmp (phase one, payplan, phase two, going self managed and this is phase three, reduced income but grim determination!...)

hopefully the reduced interest I am paying (and the full interest with hellifax) will now be reconsidered.... watch this space...

another go on the dmp rollercoaster for me please!

I got a 'being sent to dca' letter from HBos last week and threat of a default, but nothing else. I think they have stopped interest (I'm down to just over token payments at the mo...even that's tough so it's not out of payment.avoidance, just circs) no statement yet so hard to know.

Same from BC for same reason, but defo stopped interest :j

Try not to worry Karen, remember can't have what you haven't got etc etc.

Sazzie23

Lighthelamp wrote: »

OK panic stations today!! I have been in a DMP since last year, everything going ok-ish, never missed any payments. Just got a letter from BC stating they are sending me a Formal Demand and passing my debt on to a debt collecting agency. What does this mean for me? Am I likely to have someone knocking on my door?!

Bc seem to have some issue with needing details to be resent every year, might be something to do with that? Wouldn't worry, just contact SC and carry on.

Ellieseleven

Sazzie23 wrote: »

Less than 25% to go, that's made me smile, soon be there Ellie

It's been quite a journey so far Sazzie but there's now light at the end of the tunnel. The total amount appears to be reducing quite quickly now and helps keep me motivated, I will see the first two debts paid off in the next few months which will be a big boost;)

Ellie x

Dandytf

Ellieseleven
The total amount appears to be reducing quite quickly now and helps keep me motivated,

Exactly makes it 'worth the while' knowing you can work and reduce what you owe-SC statements are motivation as quickly as after a few months even I would never has though almost 4k paid in past 2 yrs (Thinking thats a 3rd paid quite a difference from being made unemployed Jan 2011 and thinking (Is THAT how much I owe)

Best wishes to everyone SC are life savers!

SquirrelNuts

Sazzie23 wrote: »

Hi everyone

I've noticed a few posts lately which make me think the average age of a DMPer is probably higher than I'd assumed, simply because we are mentioning retirement and pensions so I wondered if anyone would be willing to take part in a quick straw poll.

Age you started DMP ? 36
How long in years since you started DMP ? 6 months
How long left approx- at current rate or in your plan? 8 and a half years!

Age I want to retire and live in a luxury villa in a hot country? 55

SquirrelNuts

Sazzie... you might have noticed that I sneaked another question in there lol! :rotfl:

Also I appear to be the squirrel pup on here - maybe I'm a quick learner? haha

TBH - I'm not surprised at lack of 20s/30s on here. After all it took me a long time to build up my debt and it kind of sneaked up on me. I was quite able to consolidate & 'offset' accounts for a number of years before the inevitable happened when wife lost her income...

Squiz

SmoggyTalisman

Well I guess I'll have to break the mould here then!

Age you started DMP? 23
How long in years since you started DMP? 2 months
How long left approx- at current rate or in your plan? 2 years 9 months

I cannot wait for the day.

Sazzie23

Dandytf wrote: »

Ellieseleven
The total amount appears to be reducing quite quickly now and helps keep me motivated,

Exactly makes it 'worth the while' knowing you can work and reduce what you owe-SC statements are motivation as quickly as after a few months even I would never has though almost 4k paid in past 2 yrs (Thinking thats a 3rd paid quite a difference from being made unemployed Jan 2011 and thinking (Is THAT how much I owe)

Best wishes to everyone SC are life savers!

Good advice Dandy, defo makes it worthwhile knowing where you are and how far you have come.

Ellieseleven wrote: »

It's been quite a journey so far Sazzie but there's now light at the end of the tunnel. The total amount appears to be reducing quite quickly now and helps keep me motivated, I will see the first two debts paid off in the next few months which will be a big boost;)

Ellie x

Yeah to paying off some creditors, then the others will go away quicker:j

SquirrelNuts wrote: »

Sazzie... you might have noticed that I sneaked another question in there lol! :rotfl:

Also I appear to be the squirrel pup on here - maybe I'm a quick learner? haha

TBH - I'm not surprised at lack of 20s/30s on here. After all it took me a long time to build up my debt and it kind of sneaked up on me. I was quite able to consolidate & 'offset' accounts for a number of years before the inevitable happened when wife lost her income...

Squiz

Good point about consolidation and offsetting, suppose it does take a while to build up, though I seemed to run it up quite quick when I was studying and on reduced income, in the theory that I'll pay it off when I'm earning, somehow it never quite happened !

Sazzie23

SmoggyTalisman wrote: »

Well I guess I'll have to break the mould here then!

Age you started DMP? 23
How long in years since you started DMP? 2 months
How long left approx- at current rate or in your plan? 2 years 9 months

I cannot wait for the day.

Wish I'd learned my DMP lessons when I was in my 20's, good luck to you and :beer: to paying it all off in your 20's

KID77

Hello!
I am about to start a dmp via SC, maybe 1st July or 1st Aug, dont know whether to stall a month to allow me to put a little extra away for emergencies. or just start it asap?
I have a mortgage on SVR so would like to remortgage which i know wont be for a long time so ideally i want all my creditors to default me asap so i can remortgage 6 years on. What is the best way to ensure you get a default without court action? Can i write and request this? If I get AP markers and settle debt in year 5, is it a further 6 years so 11 in total before this disappears from my file?
Any advice on this would be appreciated, I know you guys anwser these sort of questions all the time so apologies for maybe repeating but i couldnt find exact answer on defaults when trawling through the forums.
Thank you