DMP & Mutual Support Thread - Part 10

sunnyskies2

Hi cmcavon

Sorry to hear you are feeling so anxious and upset, hopefully you have spoken to SC and are feeling a little better I started my DMP with SC in early May, but following excellent advice from Puzz decided to make token payments of £1 p month until September. I have received a couple of friendly 'chase up' phone calls - who were very accepting of the token payments and letters since accepting DMP proposal. Although the letters layout arrears, possible defaults etc all is in hand - they are standard letters - I've had no hassle whatsoever and feel a huge weight lifted like you will too very soon:) Also like you, and many others on here, I had previously never missed a payment but realised something had to give before I lost complete control - the DMP puts you back/keeps you in control:) and with SC and the posters here to give you loads of kind support and good advice all will be well:) - even the hiccoughs

When you have got your head around all of this I suggest you check out some excellent budgeting software called you need a budget (ynab), like you my OH is self employed and I know all too well what a frustrating juggle that can be :eek: it is slowly helping me to manage and more importantly budget our income and outgoings - and it comes with a one month free trial :T

Best wishes and keep in touch

Sarah

Growurown

cmcavon wrote: »

Thank you so much. I've just completed the pay plan online form too and that appears to be suggesting a lower monthly repayment. I've spoken to them and they're going to ring back this evening.

I know the idea is to pay back as quickly as poss but a lower monthly payment would be much more manageable in our situation with a baby on the way.

I think I'm a bit depressed. I can't calm myself down. My friend gave me a good talking to this morning I feel like such a failure though. I'm going to the doctors tomorrow for referral to midwife, I don't know whether to mention all this too.

Is there much difference between paypal and stepchange?

Hi cmcavon, I think paying a lower monthly payment is very sensible. Get yourself over the first hurdle of getting your DMP set up and then if six months down the line you feel you are able to up your payment then you can change it. Most of my creditors have stopped interest so taking a bit longer to pay them back isn't going to cost me anything and in the meantime I have a standard of living that is acceptable.

I would mention to the doctor that you are stressed just so s/he can keep an eye on you.

I don't think there is much difference between paypal and step change. They both provide a free service.

Good luck and let us know how you get on.

cmcavon

Thank you so much for your support.

The lady from pay plan has said we have £114 per month to offer creditors. She was going to ring me back tonight to discuss options but I got a text saying she's waiting to hear from another department so we've arranged a time for tomorrow. I really hope there aren't any problems.

I feel a little better but will be relieved when it's all set up. £114 is so much more manageable than the £502 we are currently paying. I hope there aren't any hitches.

Do pay plan usually need proof of income? It's no problem for my husband as he has wage slips but mine is a bit trickier.

tayajade

Evening all,

I am really starting to wish that I hadn't rushed into setting up the first DMP payment so fast, first one due to go out in august I have made just one month of token payments, is it too late for me to delay for another month? What reason would I give to payplan?
Thanks in advance!

FuzzyDF

cmcavon wrote: »

Nervously saying hi.

I'm sat here in tears after completing the stepchange debt remedy online. It's recommended either selling assets or going onto a dmp. For a number of reasons I think the dmp is the best option.

I'm self-employed and 5 weeks pregnant and worried about the future so please be kind.

I've filled in the form and requested the application pack. It said I'll have an email within 24 hours. I don't know if this will contain suggested figures or what?

I'm so scared at the minute, I can't stop worrying and bursting into tears. I've never missed payments before and I'm terrified of anyone banging on the door or constant calls and letters. I don't know if I can handle it all.

Dear cmcavon,

At the beginning of June I felt like you. I was so low that one night when I was going through all my bills my emotions hit a new low and I ended up calling the Samaritans as I couldn't own up to anyone that I was in debt. The angel on the phone told me to phone Step Change. I did that first thing. After that first call and not being judged I logged onto this forum and met my new friends. One month into the plan I feel elated and have slept properly for the first time in years. I'm not going to allow my financial 'mistakes' to take a toll on my health. I feel relieved and happy now. Looking at my bank account fills me with joy too as I'm in the black for the first time in decades!

Chin up! The posters on this thread are beautiful people x

antonic

cmcavon wrote: »

Thank you so much for your support.

The lady from pay plan has said we have £114 per month to offer creditors. She was going to ring me back tonight to discuss options but I got a text saying she's waiting to hear from another department so we've arranged a time for tomorrow. I really hope there aren't any problems.

I feel a little better but will be relieved when it's all set up. £114 is so much more manageable than the £502 we are currently paying. I hope there aren't any hitches.

Do pay plan usually need proof of income? It's no problem for my husband as he has wage slips but mine is a bit trickier.

Your not a failure your a suceeder why ?

Because you have realized you have a debt problem and are dealing with it and are communicating with your creditors, via Payplan.

Your creditors *should* accept Payplans proposals for the simple reason that you are committing to pay your debts , and your saving them money because they dont have to spend money to chase you !.

I write this as someone who has paid off all their debts with the help of Payplan.

Well done for facing upto and dealing with your debt problem.

Sazzie23

cmcavon wrote: »

Thank you so much for your support.

The lady from pay plan has said we have £114 per month to offer creditors. She was going to ring me back tonight to discuss options but I got a text saying she's waiting to hear from another department so we've arranged a time for tomorrow. I really hope there aren't any problems.

I feel a little better but will be relieved when it's all set up. £114 is so much more manageable than the £502 we are currently paying. I hope there aren't any hitches.

Do pay plan usually need proof of income? It's no problem for my husband as he has wage slips but mine is a bit trickier.

Hi CmC & Welcome

Good on you for making a start on sorting out problems when you have all the stuff going on in your head and body connected to being pregnant, must be doubly tough. You sound very organised and can see what you can and can't manage to pay, that's a brilliant place to start from.

I cried every time I spoke to SC (I'm 18 months in now) and cried nearly every night until the first DMP payment went, but you know what, here I am, still paying the DMP, no one is hassling me for payments and the balances are actually going down

So try to have a few positive thoughts about how this will make you stronger/smarter/in a better financial place then you are now, it will work out.

I found reading the SC website about what DCA & baliffs can and can't do really re-assuring as I had plans about hiding the tv etc in a storage unit :rotfl:

Good luck and read back through thread for some ideas on what to think about in the setting up of your DMP, but stick with a fee-free service like Sc or Paypal, or go self managed, do not be tempted by fee-paying services.

Have a good day everyone

Monkeyballs

Morning fellow DMPers!!!

Hmmm... I'm looking at "DMPers" and wondering if there should be another word to use as it sounds a bit 'wrong' like we're all either quite large or are dumping on each other or worse anyone have a suggestion for a collection of DMPers? Maybe a gaggle of winners? LOL

Anyway, random thought of the day out of the way...

CMC - Congratulation on the baby if it's a boy then I suggest the name Monkeyballs as it has royal connotations and in Hebrew means "Man with great vision, looks and wit" that's a SOLID GOLD 100% MONKEYBALL FACT!!!

As for the DMP, some great advice on here already from my gaggle of chums it is scary but the last thing you need worry about is your creditors as I doubt you'll have any that folk on here haven't already got signed up to accepting their payments and while you may get the odd call or letter to begin with they'll become a whole lot nicer when you tell them you're entering into a DMP with Payplan (PP) so chiiiiiiiil, it'll all be ok and we've got your back!!!

As for what the difference between PP and Stepchange (SC) is? My understanding is that SC is a charity while PP is a business (although they both provide a free service) and the way in which they distribute payments (SC distribute according to %age of debt while PP do something different).

Oh, and any debts which get defaulted and/or passed to a debt collector are GOOD (oddly enough) as DCA's are normally easier to deal with

Taya - If you need to pay another month or two of token payments then it's probably best to just call PP and tell them outright that you need to make a couple of token payments. I don't really think you should need to give any reasons but if they ask then just say you've a household emergency and what you had has been used That said... I hope you've not been naughty! LOL Honestly, I think being as honest as possible is the best way to go

Hasta Luego

MB of G x

Puzzcat

tayajade wrote: »

Evening all,

I am really starting to wish that I hadn't rushed into setting up the first DMP payment so fast, first one due to go out in august I have made just one month of token payments, is it too late for me to delay for another month? What reason would I give to payplan?
Thanks in advance!

Hi, These are your debts and your dmp, just tell them you need to delay the start up until September as you need an emergency fund, or car repair or whatever, but don't forget to do token payments in the meantime.
Puzz.x

tayajade

Thanks monkeyballs, I haven't been naughty honestly, I just wanted a bit more of an emergency fund