DMP & Mutual Support Thread - Part 10

Puzzcat

loobylou2 wrote: »

Morning everyone. Hope you are all having a good day. I loved the picture of Puzzcat with her Birthday cake mb!!!!! Please excuse any typos you may spot in this post. Am using the battered old desktop computer belonging to the kids as I have just spoken to Acer about my laptop and they want me to send it in for repair. Just hoping that as its still under warranty and I paid extra for a service and repair contract for it, they will fix it without charging me anything!!!! Am very tempted to just buy a new one particularly because Dell have a cheap one on offer on the HDUK site but am going to try and restrain myself and also keep away from the Wonga site as well. It would be a false economy to take out a payday loan to buy a new laptop when I may be able to get my existing one fixed for less!!!!



I'm still debating about whether or not to go with Stepchange or Payplan or to self manage my DMP. I've looked at both options and my feeling at the moment is that Stepchange may be the best option for me as I think that in self managing I could actually end up increasing my stress levels which is something I definitely do not want to do. I got very upset with myself yesterday and ended up leaving home to get away from everyone for a couple of hours. It was beneficial in a way though because I ended up bumping into and going for a coffee with a friend who also did a DMP a couple of years ago with Stepchange so was able to ask them for advice.


My only query with Stepchange is that they take payments on either the 1st or the 10th of the month and I get paid on the 15th, also having spoken to them I would have to include the loan which I was hoping to clear by the end of this year. I think I would need to open a new bank account for myself and have the Stepchange payment paid directly into it when I get paid and then not touch it so they could then take the payment on the 1st. That way I could just cancel all the direct debits on my current account and use that for everything else. Stepchange also have said to contact everyone and let them know I am entering into DMP and just to make token payments for this month so think this is what I am going to do. I'm behind on just 2 payments at the moment but can't afford to keep paying the amounts I have been paying so am hoping that creditors will either reduce or freeze interest.


Have a good day everyone

Hi Looby,


I think this is a definate no no .. I wouldn't like to explain to a creditor that my debt had increased due to this sort of purchase, would give them the perfect excuse not to play ball!!


I'm with Stepchange and have had no issues at all with them, in fact I've only spoken to them once, but others appear to be able contact them easily if needs be.


Good luck with the set up.
Puzz.

Puzzcat

GrinC wrote: »

What are the differences between stepchange and payplan? I've gone with payplan.

I am actually worried about it because it's a massive learning curve realising i wont be able to juggle credit anymore. Yikes!!!

Hi GrinC,


Stepchange are a charity and I believe Payplan are not.. but they are both free and all your payments go direct to your creditors. I think they proportion the payments differently, but other than that haven't heard of any difference. The only reason I went with SC over Payplan was I could do the whole SC set up online without needing to speak to anyone and PP you had to speak to...I was a little shy in the early days at speaking to people about debt... well I still am, except you guys of course...


Good Luck.
Puzz

Puzzcat

City1 wrote: »

Yes we are and we do. So would you send a letter within an soa, making an offer of payment worked out with soa calculator we used on the National debtline.


Regs.


Damian

Sounds like a plan Damian. I'm not self managed and one of the guys who is may pop along with a different answer but that's what I would do.
Puzz.

Kate_fixing_it

To all newbies...

Well done on getting this far! The days of living on a knife edge of fear and adrenaline are nearly over!

With regards to payment dates in my experience the creditors can shout and stamp and throw their toys out the pram all they like. SC pay on 25th. End of. Goodnight. They will eventually shut up and tow the line. One of mine states payment due 23rd. They get it on the 25th and never moan.

As for you paying SC call them and ask. I suspect it'll make the start date a month later but it's possible that you can pay via standing order. I think they hold on to any "late" payments and pay creditors the following month. The issue is that they have literally thousands of payments coming in that need to be split then sent to creditors. If you pay on the 15th that leaves 10 days for the finance department to do this. That will definitely include one weekend (and some months two) but as you're on the DMP wagon you now know that nothing is impossible

No matter what your creditors say the repayment plan will eventually be accepted. Think of them as a toddler screaming because they want another biscuit but the packet is empty. When mum/dad says no they throw a tantrum but it doesn't make biscuits appear! Said toddler can then either accept the situation or they ask Grandma (in this analogy the courts). Fortunately the courts are responsible and considerate "grandmas" and these companies know it! The courts will look at what it available, see that you have offered the last biscuit and most likely tell these screaming children they're getting all that is available and to stop it. They're left with two options, accept it or give up asking and sell the debt on. Most don't take the grandma route. They know it'll get them nowhere so they skip that step and either accept or sell on. This is a GOOD THING. DCA's are much easier to deal with and will happily make a meal with the crumbs.

Bit of a weird analogy but I'm sure you get it and hopefully it's given you a better sense of control on the situation. YOU are the parent and YOU are in control. They can't have what you haven't got end of story.

I won't promise that the first month or two will be fun or easy but I can promise it won't be as bad as you are imagining. I had all manner of scenarios running through my head. I was scared to answer my phone and door but now I have a real confidence in dealing with things. The first call I answered was the hardest but after that...Well, see above

You can do it! They're just as scared of what you will say as you are of them. There are real people at the other end of the phone who will actually be quite grateful for a polite, honest and up front conversation.

Kate x

loobylou2

I think you are right Puzzcat and I really don't want another PDL as tempting as it may be. I can keep using the kids old desktop and my phone in the interim until my phone until my laptop is repaired and in a worse case scenario could go use the internet in the library if I need to. On a happier note I spoke to one of my creditors this morning and apparently I only need to make 3 more payments in full before my extortionately expensive loan is paid off. I am going to see if there is any way at all I can get it paid off by the end of August so it doesn't have to be included in a DMP as I am aiming to start the DMP in September but not at all sure that I'll be able to do it.

Kate_fixing_it

loobylou2 wrote: »

I think you are right Puzzcat and I really don't want another PDL as tempting as it may be. I can keep using the kids old desktop and my phone in the interim until my phone until my laptop is repaired and in a worse case scenario could go use the internet in the library if I need to. On a happier note I spoke to one of my creditors this morning and apparently I only need to make 3 more payments in full before my extortionately expensive loan is paid off. I am going to see if there is any way at all I can get it paid off by the end of August so it doesn't have to be included in a DMP as I am aiming to start the DMP in September but not at all sure that I'll be able to do it.

Great news on the loan if you look at the challenges board (a sub-section of DFW) there are loads of different ways to save/make money. Clear out the kids clothes and sell, clear out the loft/garage/cupboard under the stairs etc. You'll be surprised what sells on ebay (look up "well worn shoes" if you have the stomach for it ) it's car boot season so give that a try?

Where there's a will there's a way!

Kate x

Kate_fixing_it

In the spirit of taking my own advice I've just made £10 in under 10 minutes! When say "I" what I mean is I posted pictures of DS2's throw out pile on a Facebook selling page and before the last photo of 6 had loaded from my phone the first two lots had sold! :T :j

Am delivering with DS2 after dinner. We've agreed a commission of 10% DS2 is delighted and I'm sending him into the loft tomorrow to pull out the half dozen boxes of books for tomorrow evening's activities

I will get this debt down one book at a time if I have to! Ebay isn't going so well - monsoon, Julien Macdonald and next women's clothing with labels still attached are apparently not wanted but my son's ratty old Horrid Henry books disappear at a rate of £1 a minute! :rotfl:

Kate x

ETA I'm not a completely materialistic witch and taking cash from my child! We're planning a (second) trip to London nearer Christmas to see the lights. His 10% will be kept aside and handed back at that point to show the benefits of saving. I WILL teach these kids not to make the same mistakes as me! I figured it'll soon add up and he gets 2 lessons: nothing comes for free in life and saving pays off!

Growurown

Evening all. Hello newbies, I see you are getting some great advice from the resident experts:D

Car fixed, bank account down by £400:(

Emergency fund will cover most of it and OH got a little bit of overtime this month so that will pay the rest. He was hoping to go and buy new toys and goodies - ah shame:rotfl::rotfl: Well he got a new pair of shoes with the remainder, what more can a man ask for?

autumnsong

Hi all hope you've had a great day!


I am in such a weird frame of mind right now ... I have accepted the way forward (what with there being little choice of course) but getting around to doing it is another matter! I am sitting here ready to write my letters and totally lacking inspiration... despite how many templates I look at, the first few words are near impossible...


of course I told myself to get it done before dinner but hunger could be just an excuse and then there is the washing to get in. I know I can't go to bed again having not done it.


I have the main begging part of the letter sorted, and the end ... perhaps I've not accepted it yet as I thought? gosh it's hard... I know that with this my life is changing massively. For the better, I know, but I have lived like this so long.


It all feels so grown up do you think?


Sorry to waffle. I think it's going to be a late night.

Sazzie23

Puzzcat wrote: »

Hi Looby,


I think this is a definate no no .. I wouldn't like to explain to a creditor that my debt had increased due to this sort of purchase, would give them the perfect excuse not to play ball!!


I'm with Stepchange and have had no issues at all with them, in fact I've only spoken to them once, but others appear to be able contact them easily if needs be.


Good luck with the set up.
Puzz.

I'm with SC too, no problems with them for me, and if you are at all unsure I'd probably start off with them and then move to self managed later when everything is under control and you have a little more experience under your belt.

Going to try and actually get some sleep tonight ...least it's not the DMP that worries me these days