DMP & Mutual Support Thread - Part 10

cmcavon

Right that's it, our DMP is now up and running.

I'm amazed at how ok I feel about it all!

I've worked out a weekly budget and everything!

August will be our first month missing payments so I'm expecting phone calls and letters to arrive soon. I've decided I'm only contacting creditors in writing, can't handle the calls. First DMP payment due 1st September!

Can't wait to start counting down the months.

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Sazzie23 wrote: »

Sounds,like it's some sort of automated system error, although I seem to recall Wonga are not above slightly dubious tactics. At least you know they are not going to be able to raid your card.

I think it was, I got some nonsensical email from them this morning that just said 'we believe your query to be resolved', I wish they'd let the monkeys actually type the emails rather than just sending preset after preset, I work in customer services, I know how their email system works!

No obvious signs of a raid on my card as far as I can see. Car's in for it's MOT as well, no doubt it'll fail, I have a feeling it'll be front tyres and brake discs, and I tried changing the front side-lights - whoever designed the headlights to a mark 4 seat Ibiza needs to be shot, you can't get to the side bulbs without removing the headlight unit, and to do that you need to pull off the entire front bumper!!!

Coinmachine

cmcavon wrote: »

Right that's it, our DMP is now up and running.

I'm amazed at how ok I feel about it all!

I've worked out a weekly budget and everything!

August will be our first month missing payments so I'm expecting phone calls and letters to arrive soon. I've decided I'm only contacting creditors in writing, can't handle the calls. First DMP payment due 1st September!

Can't wait to start counting down the months.

A good tip which worked for me, if you have online access to these accounts, log in and check your details, if your phone is there, remove it.

cmcavon

We've done that with our biggest one HSBC. Couldn't do it with the others though.

Growurown

Coinmachine wrote: »

Has anyone any experience of doing this with Stepchange? Car needs servicing in September and already been warned that cam belt will need changing so looking at £500 plus. I started DMP in March, had to reduce payments from June as original budget was too tight but not yet been able to build up enough of a contingency fund.

Im going to really try and be tight to avoid this happening, scrimp like mad and see what more can be ebayed - but if I have no other choice than to ask for a 1 month break on £450 payment or a reduced payment that month to help cover the bill, how does this work? Id rather not do it so soon into the DMP, particularly as I had to reduce the amount I pay which has now all been agreed by all creditors.

Anyone any experience of this?

Oh yes. I've had to do this several times now. What I didn't know was that you are only allowed to do this four times (I think that's what SC said) and then they could cancel your plan. That's why they advised me to drop my monthly payments and put more money away into my emergency fund. Having just paid out over £400 to get the car through the MOT I think it was good advice. Most of my creditors were fine with it. A couple kicked off and all I had to do was to get SC to send them another SOA and then it was business as usual. They say that the reduced payment means you have broken your contract with them, which in a way you have, but hey if they still want paying they have to accept sometimes life (or in my case the car) throws a spanner in the DMP works.

ldhme

cmcavon wrote: »

We've done that with our biggest one HSBC. Couldn't do it with the others though.

Someone else with HSBC starting a DMP
Heard bad things so I'll let you know how i get on with them.
I have 3 debts with HSBC, an overdraft, credit card and FlexiLoan (essentially just a massive overdraft).
They are my 2nd biggest creditor when rolled together.
My 1st DMP payment is tomorrow and I know they have been contacted but heard nothing back yet. Although I have not technically missed a payment to them yet, that'll happen on the 7th.


And thanks to everyone who replied to my loan question, just going to assume I'll owe the full balance until I hear off them.

Sickofthisdebt

Time_to_face_the_music wrote: »

Well done on speaking to the PDL companies :T

Apologies if you have been asked before but have you cancelled your continuous payment authorities with your bank, as well as with the PDL companies? If not, make sure you do both ASAP.

TTFTM x

Thanks I did cancel with my bank first. I then contacted the PDL companies and cancelled with them as well. Just to be on the safe side I also moved my money to my new account

How long does it take for the plan to be set up with Stepchange? I have sent all my paperwork off to them today.

Idhme HSBC are my biggest creditor as well. I have a loan and an overdraft with them.

cmcavon

Hmm should I be worried about HSBC?

We have between us two credit cards, a loan and a small overdraft with them.

cmcavon

Our DMP seems so long compared to others, 14 years 7 months! Hopefully we will shorten that once baby's born and I'm working again.

ldhme

cmcavon wrote: »

Hmm should I be worried about HSBC?

We have between us two credit cards, a loan and a small overdraft with them.

I've heard they are a real pain to deal with and difficult to get them to stop interest and charges.
Eventually they pass it over to their debt collection department (think it's called metropolitan). From there I have read that they'll accept straight away. Not sure on the timescales.

Out of 4 creditors I have not heard from 2, HSBC and Barclaycard, mixed info on Barclaycard.