DMP & Mutual Support Thread - Part 11

dad2one

I'm kinda with Brogden on the approach to things, especially if it's the first time setting up a DMP. Maybe different if moving / changing it.
At the end of the day, it is me that owes money, and me that got myself into the situation. I am asking creditors to accept my backing out of the deal and 'give me a break'.
I tend to think that a reasonable request will bring a reasonable response, and if ever things land into a court, my paperwork requests looking nice and reasonable can only keep people on my side.

dad2one

lucy_w86 wrote: »

Hi All, floated around this site for a year and a year down the line ended up worse off. So 2016 is my year to tackle it all.

I have just had a lengthy discussion with SC and listed all my income and expenditures and got a full report based on what I can afford each month. Scary part over and wasn't as bad as I thought.

Now I would 'prefer' to self manage rather than work with SC but don't know how to go about it. In previous months my Nationwide overdraft have refused to stop interest. Is it possible to get them to stop interest going alone or should I really work with SC to get this done?

Sorry if I sound a bit silly. Just determined to get mine and my families life back on track, for the better!!

In all honesty, I think it is better to get things started off through and with the backing of SC. When creditors are all in line and used to the payment structure given to them, then consider self managing. It may be a false premise, but I tend to feel that SC gives a bit more clout with my correspondence and requests.

Good luck.

sourcrates

dad2one wrote: »

I'm kinda with Brogden on the approach to things, especially if it's the first time setting up a DMP. Maybe different if moving / changing it.
At the end of the day, it is me that owes money, and me that got myself into the situation. I am asking creditors to accept my backing out of the deal and 'give me a break'.
I tend to think that a reasonable request will bring a reasonable response, and if ever things land into a court, my paperwork requests looking nice and reasonable can only keep people on my side.

That is probably true nowadays, creditors are a lot more inclined to accept someone's payment proposals, because they have to take affordablity into account, and if the "if there nice to me, then I'll be nice to them" approach works, that's fine with me.

It hasent always been this way though, 10 years ago there was non of this nicey, nicey nonsense, it was :

"pay up now, or were off to court".

Or
"borrow the money to pay us back".

Or,
"if you don't pay today, we'll be round to take the furniture"

Things were a lot different, and I guess that kind of experience stays with you.

lucy_w86

dad2one wrote: »

In all honesty, I think it is better to get things started off through and with the backing of SC. When creditors are all in line and used to the payment structure given to them, then consider self managing. It may be a false premise, but I tend to feel that SC gives a bit more clout with my correspondence and requests.

Good luck.

Ok.... And I would like to get some money behind me before I start, small pot of emergency money. Can I do that and get SC to start maybe 1st March? How do I tell my creditors that?

Jaydee92

Hi sourcrates,

Thank you for your reply. I appreciate it. Do you think it will help that until now we have never missed payments/paid things off in full etc?
I will try not to worry too much until we actually hear back with what they will decide to do, suppose it's HSBC that's worrying me the most as it's the big one and we only only half way through the 1st year of the loan :-/ . But I will wait and see what they say. Also, i forgot NEXT, so there are 6 creditors. They are owed the least at £242.. I will let you know how we get on. Our DMP is due to start 1st Feb.

sourcrates

Jaydee92 wrote: »

Hi sourcrates,

Thank you for your reply. I appreciate it. Do you think it will help that until now we have never missed payments/paid things off in full etc?
I will try not to worry too much until we actually hear back with what they will decide to do, suppose it's HSBC that's worrying me the most as it's the big one and we only only half way through the 1st year of the loan :-/ . But I will wait and see what they say. Also, i forgot NEXT, so there are 6 creditors. They are owed the least at £242.. I will let you know how we get on. Our DMP is due to start 1st Feb.

Seriously I would not worry.

Many people go down this path, creditors are well used to dealing with these matters, it's nothing they have not seen before, believe me.

dad2one

lucy_w86 wrote: »

Ok.... And I would like to get some money behind me before I start, small pot of emergency money. Can I do that and get SC to start maybe 1st March? How do I tell my creditors that?

Yes. Just hold off the signing of papers and getting the agreement going with SC for a good month or two. Send out letters to your creditors explaining your situation and that you are setting up a plan with SC. Include a token £1 payment to them as a gesture of intent. Do this once a month until you actually get your DMP underway.

lucy_w86

Is there a template for letters? Thanks again!

January2015

Hi Everyone

One year since I signed up to MSE and had my LBM. Wow - it's gone so fast. We have started our DMP, are well regimented with ourselves with our budget - yes we have some flexibility but we are focussed on clearing those debts. We have CCA'd our one pre-2007 credit card and eagerly await a response we hope will prove the debt unenforceable (goodness what a change in our attitudes since our LBM ).

We are now just in the process of moving to self-managed. Sourcrates and Brogden, I've read your wise words above and take all views on board. Yes I will have the control, but yes I will negotiate. I intend to respond to all communication from predators. I have notified every predator or DCA that if they contact us in writing they will always receive a prompt response in writing and our intention is to work with each and every one of them (er....perhaps not MBNA) to clear our debts.

It really is a happy 1st MSE anniversay for the January household

Brogden

dad2one wrote: »

I'm kinda with Brogden on the approach to things, especially if it's the first time setting up a DMP. Maybe different if moving / changing it.
At the end of the day, it is me that owes money, and me that got myself into the situation. I am asking creditors to accept my backing out of the deal and 'give me a break'.
I tend to think that a reasonable request will bring a reasonable response, and if ever things land into a court, my paperwork requests looking nice and reasonable can only keep people on my side.

Thanks Dad !!

I wasn't wanting to sound all righteous because that's not how I feel. Having payment arrangements agreed with predators is mega-important for our own benefit.......scr*w them :rotfl:!!! I wasn't wanting to be Goody Two Shoes !! Its all for my peace of mind and continued existence !!

It's the key to the whole issue of self management. Get the arrangements you want using a good I&E and then stick to them......smile.....live in peace....have a glass of wine !!

Sourcrates is making a very true observation. Everything is very nice nowadays and it has all got much nicer over the four years I have been self-managing. I haven't been locked in the stocks on the village green for quite a while now .

Who threw that bad egg.......:D??