DMP & Mutual Support Thread - Part 11

Puzzcat

Mkl79 wrote: »

Yes all direct debits to creditors have been cancelled. I've not written or made any token payments though as the guy at stepchange didnt mention them. Although i am now starting to fret that maybe i should make some!
What happens if i dont? My first dmp payment is due on 1st April.

Nothing I should think! As your starting so soon sc will be in touch with them, but until then the creditors won't know what's happening so you may get phone calls and letters. I wouldn't worry it will be April before you blink next!
Puzz.x

Growurown

Hi all,
I decided to treat myself to a new phone. I've had my little Nokia since 2007 so thought it was about time! Didn't think about the credit reference check:eek::eek::eek: Told the sales person I might not pass, no worries they said put it in your partner's name. Ah well, I said he might not pass either. However I passed!

For those starting out on their DMP journeys hang on in there. It's amazing how soon the time passes and eventually debt freedom will arrive.

BeingDebtFreeStartsHere

Puzzcat wrote: »

Hi,

I did token payments for 3 months without any problem. I just wrote each month, quoting.. further to my recent correspondence I am in the process of setting up a dmp with sc.. etc etc.. They didn't seem to react to the delay at all. So I would just do that for now and include your token payment.. £1 is fine.. I used cheques but you could use postal orders but that costs an extra 70p for each one.. And they do show up on your statements.. don't make a lot of difference to the balance mind.. :rotfl:

It is quite usual for the debt to go up until the dmp is in place, mine certainly rose by about 1% but that's the price you pay for not starting straight away and to me an emergency fund was more important than an extra 1% on my mighty £60k debt...:)

Puzz. x

Hi make the change,

I deflinitely agree with Puzz and Jan,

I started my DMP before I found this amazing forum so I wasn't aware of token payments. I think we were so anxious about the whole situation and the fact that this was going to be the first time we had ever missed a payment it all got a bit overwhelming :eek:

I so wish I had found this thread and gone down the token payment route for 3 months to build up an emergency fund - I would so recommend you do this to give you some security in case of unexpected car repairs/appliances breaking down etc as obviously you will have no access to credit.

We got quite a few letters through for the first 6 weeks or so about the accounts being in arrears or payments overdue. I actually was happy to call the creditors and explain that we had started a DMP and gave them our SC reference number. It did settle down quite quickly and now all we get is a yearly statement from each creditor

One word of advice for later down the line, make sure you get your annual review in on time when it is due as it can take SC a little time to process any changes to your I & E and any adjustments to the amount you are paying each creditor, if you decide to stay with SC that is. We were a little late with ours and some creditors got a bit twitchy and started sending out letters requesting when/how much we were paying. All sorted with a few phone calls but it could have been avoided if we had done the review on time or just before the time it was due. I guess you would have to do a yearly I & E if on a self managed DMP too??

Stay strong and positive - it really does get better

BDFSH x

BeingDebtFreeStartsHere

Growurown wrote: »

Hi all,
I decided to treat myself to a new phone. I've had my little Nokia since 2007 so thought it was about time! Didn't think about the credit reference check:eek::eek::eek: Told the sales person I might not pass, no worries they said put it in your partner's name. Ah well, I said he might not pass either. However I passed!

For those starting out on their DMP journeys hang on in there. It's amazing how soon the time passes and eventually debt freedom will arrive.

Great to hear from you Growurown!!

So glad all is going well for you. Enjoy the new phone - hope it's a right proper flashy one!!

Take care,

BDFSH x

FunBrum

Hi folks.

As I am already in a DMP as I said in an earlier post, with a company that charge me for their service. I'm about to phone SC to ask them to take over. Can someone tell me if the 'crossover' will rock the boat with my creditors, and should I expect a backlash from them? The interest has stopped on the four debts and all are defaulted. Do you think there will be any changes on their part?

sourcrates

FunBrum wrote: »

Hi folks.

As I am already in a DMP as I said in an earlier post, with a company that charge me for their service. I'm about to phone SC to ask them to take over. Can someone tell me if the 'crossover' will rock the boat with my creditors, and should I expect a backlash from them? The interest has stopped on the four debts and all are defaulted. Do you think there will be any changes on their part?

Hi,

Your best bet is to stop paying this 3rd party period.

Take a few months to sort yourself out, then go to stepchange.

Don't be worrying about rocking anything, your creditors will do there thing, you will do yours.

It would help if you have details of all your creditors to hand before proceeding.

Once you've done that I would pursue a claim against the DMC who has been charging you, get some of those fees back.

Puzzcat

FunBrum wrote: »

Hi folks.

As I am already in a DMP as I said in an earlier post, with a company that charge me for their service. I'm about to phone SC to ask them to take over. Can someone tell me if the 'crossover' will rock the boat with my creditors, and should I expect a backlash from them? The interest has stopped on the four debts and all are defaulted. Do you think there will be any changes on their part?

Hi,
To answer the question you have actually asked..Yes asap swap to sc, do the online debt remedy and inform your other dmp that you are cancelling and cancel any dd set up for them. You can write to your creditors and inform them of the change to your dmp. If the debts are already defaulted then no further interest should be charged.
Puzz.x

FunBrum

Many thanks sourcrates and puzzcat for your help.
Can I really claim back charges?
I have a direct debit that goes to them on 20th, then they take their cut and divvy the rest to my creditors. Should I cancel it or tell them first?
I'm getting really fired up reading this thread, and could kick myself for being a chump, paying these guys for so long! I wish I had read this three years ago!!

Sorry puzzcat...You answered most of this post!
I didn't read it properly in my haste! Thanks again.

Sazzie23

FunBrum wrote: »

Many thanks sourcrates and puzzcat for your help.
Can I really claim back charges?
I have a direct debit that goes to them on 20th, then they take their cut and divvy the rest to my creditors. Should I cancel it or tell them first?
I'm getting really fired up reading this thread, and could kick myself for being a chump, paying these guys for so long! I wish I had read this three years ago!!

Sorry puzzcat...You answered most of this post!
I didn't read it properly in my haste! Thanks again.

If it was me, I'd cancel the DD then call them so I don't back out.
Welcome to the DMP mutual Support thread.

Whether or not you start to pay again straight away through SC or self managed won't make much difference in the big picture so that is up to you.

Time_to_face_the_music

DireDebts wrote: »

I send you the message Time to face the music.

Thank you so much to EVERYONE who sent me messages. am very grateful and extremely touched by your words.


DMP & Mutual Support Thread :iloveyou:

TTFTM x