DMP & Mutual Support Thread - Part 11

crispycornflake

Our dmp payment goes out on the 10th through sc so don't have time to start the self managed dmp this month. I'm quite pleased about this as it gives us longer to sort things out. Having so many creditor's to deal with means it will take some time to get all the contact details together & get the letters out to them, also will need to tell sc when we're all sorted. So just to be clear we write to them all with offer of monthly payment & the I&E statement? Then get their account details, arrange the standing orders to pay & away we go? If we do it all at the same date then the review dates should be the same with any luck. I'll set up a dmp filing system for all the paperwork & a file on the computer to make it easier to manage. I'm quite excited now ha ha feeling liberated

Cregs10

Hi. I have literally joined sc today and agreed a dmp. 1st payment to be made by the -9th. I am worried about a couple of things. Firstly how often do you hear from creditors at the start of the plan? Secondly, so said it was likely the creditors would default my accounts but has anyone been given a ccj for this. Any advice on what to do next would be great.

sourcrates

Cregs10 wrote: »

Hi. I have literally joined sc today and agreed a dmp. 1st payment to be made by the -9th. I am worried about a couple of things. Firstly how often do you hear from creditors at the start of the plan? Secondly, so said it was likely the creditors would default my accounts but has anyone been given a ccj for this. Any advice on what to do next would be great.

Hi,
I would not worry about creditor contact, if you are written to, or you recieve phone calls, you simply refer them to stepchange, and they will deal with it for you.

As for court action, I'm assuming all your debts are still with original creditors, they don't usually take legal action themselves, they will just dispose of an account to a debt collector, usually DMP's are accepted, and most run without too many problems.

I would not worry about a CCJ, as long as you pay your DMP, all should run smoothly.

Cregs10

Thank you for your response sourcrates that has put me at ease. Today is a big step. It is all with my original creditors yes. I am glad it is up and running but unsure of the next steps. I think I now need to cancel direct debits and I am waiting for my new current account to open. My dfd is may 2020. Long way to go but determined to get there!

sourcrates

Cregs10 wrote: »

Thank you for your response sourcrates that has put me at ease. Today is a big step. It is all with my original creditors yes. I am glad it is up and running but unsure of the next steps. I think I now need to cancel direct debits and I am waiting for my new current account to open. My dfd is may 2020. Long way to go but determined to get there!

Given the hour, not everyone scours these boards at this time of night lol !!
There a great bunch on here, all of whom are in similar circumstances to you.

I'm sure there will be plenty of good advice for you, as this thread is updated daily !!

Good luck with the DMP !!

[Deleted User]

Cregs10 wrote: »

Thank you for your response sourcrates that has put me at ease. Today is a big step. It is all with my original creditors yes. I am glad it is up and running but unsure of the next steps. I think I now need to cancel direct debits and I am waiting for my new current account to open. My dfd is may 2020. Long way to go but determined to get there!

Good Luck from me, too, Cregs:beer:

You've done exactly the right thing by coming on here and saying hello. As sourcrates said, there are usually more people about in the daytime so if there's ever anything worrying you please ask and someone will be along to help:T

As for your DFD being a long way to go I wouldn't worry too much;). In the general scheme of things, a DMP of under 4 and a half years is pretty short:j. Some people on here had/have them for 2 or 3 times as long as that. Mine started at 6 and a half years and I'll be halfway through around May. It seems to have passed pretty quickly though and once I'm on the homeward stretch I'm sure time will fly:j

I can honestly say opting for a DMP with StepChange was the best financial move (certainly the most sensible) I've ever made in my long life. I'm very proud to be paying back what I owe but certainly not too proud to have needed to ask for help to do it;)

crispycornflake

Cregs10 wrote: »

Thank you for your response sourcrates that has put me at ease. Today is a big step. It is all with my original creditors yes. I am glad it is up and running but unsure of the next steps. I think I now need to cancel direct debits and I am waiting for my new current account to open. My dfd is may 2020. Long way to go but determined to get there!

Hi Cregs

Just wanted to say hi & give you some moral support! Myself & my other half have been on a dmp with sc for nearly 6 years & have paid off over £40,000 so far :j. We have got a few defaults but that is to be expected, we're currently planning to self manage our dmp so we can target smaller debts with full & final settlements and blitz this debt . I hope this helps with your dmp journey, try not to worry we've all been there, I know it seems daunting at first but in a couple of months it should all be running smoothly and you'll be feeling a lot better and more confident about it all. Best of luck

Ellieseleven

January2015 wrote: »

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 ).

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

Happy Anniversary January and look how far you have come!

Here's to another debt busting year:j

Ellie xx

Sazzie23

Cregs10 wrote: »

Hi. I have literally joined sc today and agreed a dmp. 1st payment to be made by the -9th. I am worried about a couple of things. Firstly how often do you hear from creditors at the start of the plan? Secondly, so said it was likely the creditors would default my accounts but has anyone been given a ccj for this. Any advice on what to do next would be great.

Hi Cregs and welcome,

Well done at making a start in debt busting, remember a DMP is likened to a marathon and not a sprint. There's many on here been in DMP more than 6 years already.
Couple of start-up questions?
Are your debts with the people you bank with? If so make sure you get your bills money, mortgage, utilities etc before they get told of your DMP.

Have you got an emergency fund ? How much depends on your circumstances, but consider how you'll pay if your washer/boiler/car blows a gasket? Remember your credit lines are probably cut off, it's a big change in thinking. If you need to, make token payments for a month or two until you have at least £250-£500.

Have you notified creditors that you are having financial issues? Or missed any payments? SC will writer to them but this often takes a while to get to the correct place and you may find creditors contact you wondering why your DD has been cancelled or payment not received. Have your SC reference ready and simply say, I am having financial difficulties, I am starting a DMP with SC and you will be receiving your payment from them. Most creditors will talk nicely to you after that but if any of them do get stroppy (there's often one) hang up and don't give it another thought.

if you have time, read through this thread and 8&9 if you get time, you'll find answers and suggestions to many issues you might consider.

FINALLY - and this is for ALL NEW DMPERS don't be tempted to make your payments the highest you can afford, your budget needs to have a little flex and you are more likely to get interest cut in LOWER payments.


Happy debt busting everyone :T

Sazzie23

sourcrates wrote: »

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.

Of course it does, and we all have to have a tough streak to get through our DMP's. I suspect without having the tough luck approach the early DMPERS had, then things would be much more difficult for us nowadays.

We value the support you give to all on the DFW forums, and you are always a fantastic font of advice on CCA and statute barred stuff.

Having a variety of views is what makes the threads vital. :T