DMP & Mutual Support Thread - Part 11

Puzzcat

Update time...

I have a little news..

1. I have CCA'd one of my debts which is with a DCA and now this debt is currently on hold whilst they find the paperwork needed...

2. I have paid off 25.7% of my debt and am now in the £44k's.... started at £60062....

3. I am leaving Stepchange and branching out with another debt management company.. me ...! So self managed here I come.. I will report any ups or downs as I go....

Welcome to any newbies and hello to all the oldies....:rotfl:

Love Puzz. x

2spicy

changeiscoming wrote: »

Hi ,
Hope you are all well. I am new to this and the forum, I have come to the point that I can no longer afford monthly repayments on credit cards. I have looked into the Step Change DMP and it seems to me like my only option, (literally living from wage to wage and robbing peter to pay paul). I suppose why I am writing here is for your advice. Will I automatically be accepted to start a DMP from step change and if so how long does it take to get the ball rolling? .... I also read in sc that they advise you to change banks ? how do I go about this... do I have to be honest with my bank why I am leaving? will another bank take me if I already owe 2000 quid to another bank on overdrafts and have maxed out credit cards too. ... sorry if my questions seem silly , all advice would be so helpful to me xx

Welcome.

What you describe is something we can understand, that is the situation we were in 7 years ago.
First of all, DONT PANIC !!
Were all here, weve all been through it. We all understand and will not judge you.

Good luck on your journey. the road might be rocky, and at times seem like there is no end in sight, you will make it. Just shout on here if you need any help, if you are happy and want to tell someone or if you are in need of a friendly impartial bit of advice.

KID77

25% paid off, thats fantastic, well done!! I am very pleased for you but also very envious :-)

Xx

January2015

Puzzcat wrote: »

Update time...

3. I am leaving Stepchange and branching out with another debt management company.. me ...! So self managed here I come.. I will report any ups or downs as I go....

Love Puzz. x

Whooooo Hooooooo......Can you hear me shouting with joy from over here :rotfl:

Well done Puzz:T

BeingDebtFreeStartsHere

Puzzcat wrote: »

Update time...

I have a little news..

1. I have CCA'd one of my debts which is with a DCA and now this debt is currently on hold whilst they find the paperwork needed...

2. I have paid off 25.7% of my debt and am now in the £44k's.... started at £60062....

3. I am leaving Stepchange and branching out with another debt management company.. me ...! So self managed here I come.. I will report any ups or downs as I go....

Welcome to any newbies and hello to all the oldies....:rotfl:

Love Puzz. x

Fantastic achievement Puzz

Good luck with moving to self managed - keep us posted with how it all goes xx

Boldhoof

make_the_change wrote: »

Thanks for all the feedback, I haven't managed to get online over the weekend as been busy and worried about finances again and what will happen. I was starting to sleep better but now I just lay awake worried. How long have people done token payments for typically and what's happened in that time? I can feel my stress levels increasing and my anxiety coming back.

We did token payments of £1 per creditor for 6 months. Each creditor over that period wrote to us accepting the token payment for the 6 month period, bar one who said no, but never called or chased us. We did receive the arrears letters, and one defaulted us quickly, but with SC and here, you realise the letters are normal practice. Just keep every letter you receive from them, read, if concerned email copy to SC and file.

Boldhoof

Evening all,

Received a response from one of our creditors saying they could not accept our offer, but say they can accept £offer and list ways to pay. The letter goes on to say If the payment is received their client agrees not to pursue us for the remaining balance and will not pass on the remaining balance to anyone else to pursue. Says it will be recorded as "partially settled" on our credit file.

If all goes well and we can pay this do we just log-in to SC and reduce the amount owed to this creditor to 0, or remove them totally from the list?

Sazzie23

Boldhoof wrote: »

Evening all,

Received a response from one of our creditors saying they could not accept our offer, but say they can accept £offer and list ways to pay. The letter goes on to say If the payment is received their client agrees not to pursue us for the remaining balance and will not pass on the remaining balance to anyone else to pursue. Says it will be recorded as "partially settled" on our credit file.

If all goes well and we can pay this do we just log-in to SC and reduce the amount owed to this creditor to 0, or remove them totally from the list?

Sounding like good news. When I paid off one of my SC debts, I just reduced the amount to £0. SC did contact me to enquire why this was the case...it was a PPI refund and they just accepted this.

Boldhoof wrote: »

We did token payments of £1 per creditor for 6 months. Each creditor over that period wrote to us accepting the token payment for the 6 month period, bar one who said no, but never called or chased us. We did receive the arrears letters, and one defaulted us quickly, but with SC and here, you realise the letters are normal practice. Just keep every letter you receive from them, read, if concerned email copy to SC and file.

Great post Boldhoof and useful for many newbies I suspect.

Puzzcat wrote: »

Update time...

I have a little news..

1. I have CCA'd one of my debts which is with a DCA and now this debt is currently on hold whilst they find the paperwork needed...

2. I have paid off 25.7% of my debt and am now in the £44k's.... started at £60062....

3. I am leaving Stepchange and branching out with another debt management company.. me ...! So self managed here I come.. I will report any ups or downs as I go....

Welcome to any newbies and hello to all the oldies....:rotfl:

Love Puzz. x

Fantastic news on the 25%, and potentially even more with the CCA. :beer:

Well done for taking the steps to being self-managed, I know I'm not ready yet, but I am slightly envious of those that can control their own. :j. Are you planning to make any changes to payment structure ?

Sazzie23

Karen777 wrote: »

wise words as ever - do what she said everyone!!

True lol

Sazzie23

Did anyone see the Noddle advert I saw tonight, haven't seen much TV lately so maybe it's been about for a while, but they are trying to make Noddle trendy, I've never been a trendsetter before, made me feel quite upbeat!