DMP & Mutual Support Thread - Part 10

Monkeyballs

Morning all DMPers new and old!

My internet seems to be playing ball so I'm in full on catch up mode

gamma wrote: »

I've taken the plunge and signed up to stepchange's dmp in Scotland. I've got around £20k debt and have been managing minimum payments. Just wondering if this is the right route? It was suggested to get a trust deed instead, (which is similar to an IVA) but I don't think it's for me.

I'm just wondering if this is the best route to take (via stepchange) or should I contact each creditor directly? I don't really have the energy to argue with them though

Hi Gamma,

Welcome to the thread SC will contact each of the creditors for you but I'd recommend contacting them too (double whammy!) and keeping notes of who you spoke to and when and any 'notable' comments... It's scary to begin with but once your DMP is in place then it's smooth sailing generally after the first month

From my understanding, an IVA is a form of insolvency and although you've only got £20k of debt (only, lol) you've not mentioned income and expenditure, etc so it's hard to say - also, being in Scotland I understand things operate a little differently which I don't understand either way, the folk here are awesome and always happy to help! x

And don't worry about arguing, you won't be doing this as you'll be just be saying "Hi, I'm Gamma and I owe you money... I am in the process of entering into a DMP with Step Change and they will be in touch shortly with an Income & Expenditure form and an offer to pay... Here is my DMP ref. and their contact number... ciao!" some will have a comment but most will probably say "no worries" and may even tell you well done and thank you

FuzzyDF wrote: »

I expect a few bumps in the road (especially my BOS card). I took the plunge and called them on Friday. They are just flat refusing to freeze any interest and will kindly be charging me £12 a month for the pleasure.

When things get settled down with my DMP, should I tackle them further?

Cry havoc! And let slip the dogs of war! If you've made a formal complaint then get in touch with the FOS if not, I think the FOS will tell you to do that first which may persuade BoS to re-think their approach... Good luck!

Sazzie23 wrote: »

Ok debt news from me, having spent the evening spreadsheeting, I have discovered that I have paid of 33% of my DMP debt,, that's nearly a third so I'm celebrating that one:j
I also discovered that when my august mortgage etc payments go out at the first of the month my total debt including unsecured, secured and mortgage will be slightly less than £:o80k. That is a huge milestone for me as that is the approx valuation of my little abode, so I would then be in a position to clear my debts if I sold up. I'm not planned to at moment, but for some reason it feels like huge weight off.

AWESOME!!! I'm so chuffed for you Saz :T it won't be long before the next 33% is toast as well

As for me, my debts are creeping ever lower and from next week I may be able to start looking at getting into work again not because my back is better but because I can get to it and if I can manage a few hours per week for a while then I'll be back on full pay time will tell but I wanna rock!!! LOL

It's Monday morning, it's already 24 degrees, I'm sweaty and determined... Grrr...

Ciao!

MB of G xxx

Hopelessly_Hopeful

Sazzie23 wrote: »

Ok debt news from me, having spent the evening spreadsheeting, I have discovered that I have paid of 33% of my DMP debt,, that's nearly a third so I'm celebrating that one:j
I also discovered that when my august mortgage etc payments go out at the first of the month my total debt including unsecured, secured and mortgage will be slightly less than £:o80k. That is a huge milestone for me as that is the approx valuation of my little abode, so I would then be in a position to clear my debts if I sold up. I'm not planned to at moment, but for some reason it feels like huge weight off.

Good luck everyone for the Monday post. :T

Well done Sazzie.

Know what you mean about overall picture. I never rely on what the bank balance says, My spreadsheets are always more upto date as I never want to get caught out again. One of my sheets is if I die today what do I have and what do I owe. Ms TTFTM will be along shortly to tell me off for being morbid lol.

HHx

Hopelessly_Hopeful

Good news on the back Mr MB

HHx

Time_to_face_the_music

FuzzyDF wrote: »

What is it about the post I get on Saturday's? I always get a default :T

At the beginning of June I was a total wreck, 7 weeks later I am completely chilled out (even though its 30C) in London.

I expect a few bumps in the road (especially my BOS card). I took the plunge and called them on Friday. They are just flat refusing to freeze any interest and will kindly be charging me £12 a month for the pleasure.

When things get settled down with my DMP, should I tackle them further?

You need to write a complaint letter, specifically using the word complaint, if you need a template we can sort you out. If you don't get the response you want, follow it up with the FOS.

TTFTM x

Time_to_face_the_music

Kate_fixing_it wrote: »

I've been a bit down on myself lately thinking it'll never go (probably the novelty wearing off) but I'm nearly £2000 better that I thought I was and I'll be down to a 4 figure debt by Christmas!

Brilliant news Kate and am loving the target setting :T :j

Time_to_face_the_music

gamma wrote: »

Hey everyone, not sure if this is the right thread, but here goes!

I've taken the plunge and signed up to stepchange's dmp in Scotland. I've got around £20k debt and have been managing minimum payments. Just wondering if this is the right route? It was suggested to get a trust deed instead, (which is similar to an IVA) but I don't think it's for me.

Will send off my documentation on Monday and see what the credit cards say!

I'm just wondering if this is the best route to take (via stepchange) or should I contact each creditor directly? I don't really have the energy to argue with them though

Hi and welcome gamma :hello:

Can see you have had some great advice already so just wanted to say please stick around for any help, advice or support that you need.

TTFTM x

Time_to_face_the_music

Sazzie23 wrote: »

Ok debt news from me, having spent the evening spreadsheeting, I have discovered that I have paid of 33% of my DMP debt,, that's nearly a third so I'm celebrating that one:j
I also discovered that when my august mortgage etc payments go out at the first of the month my total debt including unsecured, secured and mortgage will be slightly less than £:o80k. That is a huge milestone for me as that is the approx valuation of my little abode, so I would then be in a position to clear my debts if I sold up. I'm not planned to at moment, but for some reason it feels like huge weight off.

Good luck everyone for the Monday post. :T

Brilliant news Sazzie, love the 33% paid off and the total debt being less than value of house :T :j

Time_to_face_the_music

Monkeyballs wrote: »

As for me, my debts are creeping ever lower and from next week I may be able to start looking at getting into work again not because my back is better but because I can get to it and if I can manage a few hours per week for a while then I'll be back on full pay time will tell but I wanna rock!!! LOL

Great news on debts and your back. Go get 'em MB :j

Time_to_face_the_music

Hopelessly_Hopeful wrote: »

One of my sheets is if I die today what do I have and what do I owe. Ms TTFTM will be along shortly to tell me off for being morbid lol.

Stop being so morbid Twin! :rotfl:

My news today is that our debt is now under £16,000 and we have paid off over 80% :j

Next target is to clear another debt by the end of August, which will leave just two to go and big target is to be debt free by the end of May 2015 .... or sooner if I can manage it

TTFTM x

Hopelessly_Hopeful

Time_to_face_the_music wrote: »

Stop being so morbid Twin! :rotfl:

My news today is that our debt is now under £16,000 and we have paid off over 80% :j

Next target is to clear another debt by the end of August, which will leave just two to go and big target is to be debt free by the end of May 2015 .... or sooner if I can manage it

TTFTM x

Wonderful news. You are steaming ahead.

HHx