DMP & Mutual Support Thread - Part 11

Ellieseleven

January2015 wrote: »

Snap! My first ACCESS mastercard at 18 with a £200 limit was the beginning of the longest slippery slope.

I am very lucky in that my children did as I said with money and not as I did (not that i told them what a pickle we were/are in). 3 of my children are mortgage free in their 30s and one is renting. All are very good at saving for what they want. That means the world to me

Add me to that list, I was in my 20's when I got my first credit card but I had 6:eek: for many years until 2010 when we went on our DMP. I don't want to play the game either and I'm in my late fifties so definitely don't want any more credit. I find these days the savings bug has got me and once my DMP has finished I will have almost £700 per month to put away towards my retirement.

My children have no debt and they save for the things they need.

Ellie x

January2015

Jon81 wrote: »

Having a bit of a freak out here, am moving from token payments to DMP on the 1st.

Set up the DMP with stepchange around the 10th jan

Have so far only heard back about one debt, accepting DMP and freezing interest for a year. I've heard nothing from the other 11 companies and 2 of them are with the same bank as on which has replied

Worrying, but trying to be positive

Don't worry - we never heard from quite a few of our predators at the beginning of our DMP. We eventually heard via SC. Most accepted, one didn't but SC still just paid them the same and all that happened was they defaulted our account more quickly. Nothing nasty happened

Boldhoof

Morning all,

Had a quick response from Halifax refusing the full and final offer. Their letter was odd though, it says they can't accept my offer and the normal recovery action will continue, and we will send you letters before passing the account to our Recovery Team. Yet back last year they sent me a letter with a default notice, and arrears notice saying it was with the recoveries team. I also received in a separate letter a statement saying arrears notice 001, yet I have already had last year arrears notice 001 and 002. The last part of their current letter says I should get debt advice and lists the agencies, yet SC have been paying them for over a year. makes me wonder if they know what they are doing.

zenshi

Boldhoof wrote: »

Morning all,

Had a quick response from Halifax refusing the full and final offer. Their letter was odd though, it says they can't accept my offer and the normal recovery action will continue, and we will send you letters before passing the account to our Recovery Team. Yet back last year they sent me a letter with a default notice, and arrears notice saying it was with the recoveries team. I also received in a separate letter a statement saying arrears notice 001, yet I have already had last year arrears notice 001 and 002. The last part of their current letter says I should get debt advice and lists the agencies, yet SC have been paying them for over a year. makes me wonder if they know what they are doing.

May I ask what % you offered? I'm in the process of compiling letter with an offer today

sourcrates

Boldhoof wrote: »

The last part of their current letter says I should get debt advice and lists the agencies, yet SC have been paying them for over a year. makes me wonder if they know what they are doing.

It will be a spat out, computer generated letter.


Full and finals tend to work better when the accounts been sold on, as there doesn't seem to be much negotiating room with OC`s.

rizla_king

sourcrates wrote: »

It will be a spat out, computer generated letter.

its something they are legally bound to put on all statements of arrears. they cant leave it off no matter what they know.

Boldhoof

zenshi wrote: »

May I ask what % you offered? I'm in the process of compiling letter with an offer today

Sent letters to all six of our creditors offering 40% as the amount in total is the current amount a family friend said they would be happy to help with. If you have access to more you may want to try the formula the National Debt Line use which you can find here - https://www.nationaldebtline.org/EW/factsheets/Pages/fullandfinalsettlementoffers/Page-03.aspx

Boldhoof

sourcrates wrote: »

It will be a spat out, computer generated letter.


Full and finals tend to work better when the accounts been sold on, as there doesn't seem to be much negotiating room with OC`s.

Do you know if DCA refuse offer do they reply with a figure they would accept or do I try and offer more if rejected, currently unlikel;y to be able to do this.

sourcrates

Boldhoof wrote: »

Do you know if DCA refuse offer do they reply with a figure they would accept or do I try and offer more if rejected, currently unlikel;y to be able to do this.

A DCA is more likley to come back with a figure they would take, on occasion they will let you pay the settlement figure over a number of payments, it depends on the company though, they are that desperate for your money.

wigglykoala

Hey Guys,

I've read through about 5 of these forum pages to try and get my head out of a wobble and to make a decision on my money problems.

I'm female, 31, body clock a-ticking and living in a shared house with my boyfriend (it's one of his mother's houses -- so not so bad but not really a home as such!)

So 30k of debt: 9k on a loan, 3.5k on an overdraft and the rest on credit cards. Had this debt for waaaayyy too long, not only is it not going down but it's the only tie to a rubbish relationship I left over 5 years ago now, and I want it gone to be properly free from the bad times etc.

I started looking at PayPlan they first recommended bankruptcy and that scared me a lot so I started looking at a DMP with them or going DIY.

I firstly got scared of the bankruptcy because well one day in the next 5 years I'd like to chuck the housemates out and move a baby in... and reducing my hours at work to pop one of them out and being bankrupt seemed too much of a risk.

But now that I'm thinking about it more maybe it is the right move? Or maybe DIY DMP (maybe it's a control thing - maybe I think I can do this better myself...)

My head is kinda all over the place right now and this seemed like a good place to turn to ask for advice.

I won't be popping any babies out until this debt is gone! -- which also scares me!

Any words of wisdom or a slap back into reality would be greatly appreciated!

Justine