DMP & Mutual Support Thread - Part 11

blisteringblue

Ooh Err Missus, spend a week off the thread and it's world war three.

Look, don't fall out, written words are always taken the wrong way because you cannot see the face of the person writing them.

I'm in the pay it back camp but I'm totally fine with those who choose the CCA route. I will be going for F&Fs towards the end of my DMP process and this is a negotiation, but to me it is still classed as paying it back.

Anyway, peace and love to the DMP Threaders :heart2: :kisses:

Oh and I had a nice surprise in the post today. A Cheque for £130 from Sentinel Card Protection Compensation.

Got a letter a while back which I just signed, remembered it was on a card for a couple of years before I noticed and cancelled.

Better than a poke in the eye with a blunt stick :rotfl::rotfl:

Boldhoof

ianparrynw wrote: »

Hi Guys.

New here

Just set up a dmp with stepchange for about 24 thousand paying £477 per month... few different credit card companys.

just got a letter from stepchange saying halifax have rejected the dmp... is there anything i can do should i ring or write to halifax?

cheers

We had llyods reject the dmp, a year later and all is still going well. SC still make the payments, which have increased slightly, and we only had the normal letters, we did not contact them.

gilmum

Couple of questions for you wise ones:

1) Two of our debts (husband's overdraft and my bank loan) do not show at all on my Noddle or Experien credit records. I presume that this means they are not being reported and therefore it doesn't matter what their status is in terms of defaulted / AR etc ???

2) I am looking at getting things defaulted as early as possible. I have read the ICO guidance on their website dated Jan 2014 about what the appropriate records are - this suggests if you are in a DMP you should not be defaulted unless you are paying a nominal payment, if you are paying an amount acceptable to the creditor they should just put you on as DMP. The gist seems to be that DMP is not as bad as a default, however, given that DMP is on for 6 years after you complete your DMP clearly that means that your credit record shows issues for much longer on a DMP - this seems unfair but is clearly supported by the ICO Guidance. On here people seem to want the defaults and I have been planning to fight for this, but just wondered if DMP is that bad on your credit record - any thoughts ???

Thanks

bsclp118

gilmum wrote: »

Couple of questions for you wise ones:

1) Two of our debts (husband's overdraft and my bank loan) do not show at all on my Noddle or Experien credit records. I presume that this means they are not being reported and therefore it doesn't matter what their status is in terms of defaulted / AR etc ???

2) I am looking at getting things defaulted as early as possible. I have read the ICO guidance on their website dated Jan 2014 about what the appropriate records are - this suggests if you are in a DMP you should not be defaulted unless you are paying a nominal payment, if you are paying an amount acceptable to the creditor they should just put you on as DMP. The gist seems to be that DMP is not as bad as a default, however, given that DMP is on for 6 years after you complete your DMP clearly that means that your credit record shows issues for much longer on a DMP - this seems unfair but is clearly supported by the ICO Guidance. On here people seem to want the defaults and I have been planning to fight for this, but just wondered if DMP is that bad on your credit record - any thoughts ???

Thanks

I'm interested in this too - especially in terms of getting a mortgage somewhere down the line...

Triangle

Hi all :hello:

I haven't posted in a while but read every day (I have so many screenshots saved of helpful posts!) I hope everyone is well.

So we are now 6 months into our DMP! Can't believe how quickly the time has flown! I was so worried when I started out and in such a mess - I can't even attempt to explain how much better I feel now and how good it is to actual budget. Plus I still to date have never received a phone call from a creditor, one of my biggest fears!

My husband and I entered the DMP with four debts. This is where we up to 6 months on:
*Joint loan - defaulted, still with orginal creditor
*My credit card - defaulted, passed to another creditor in same banking group
*My store card - showing as 'late payment and still being charged interest :mad: This is the smallest debt we have.
*Husband's credit card - showing as 'late payment' and charging a stupid amount of interest:mad:

Next month I need to do a overhaul of finacnes (salary increased but Child Tax Credit ending) I plan to complete a Stepchange review too to tweak a few bits. As part of this overhaul I will write letters to the two creditors still charging interest. From reading the thread I do feel that the only way I can solve this is probably to go self-managed (very notorious creditors!) Im not sure I'm quite ready to do this just yet but if I've had no joy, I definately plan to do this in time for our one year DMP anniversary.

Massive thanks to all who post. I was just looking at another thread on DFW about fee charging DMP companies going into liquidation and people loosing thousands. It's made me so sad

I am so so grateful to MSE!

T

muppetscotland

I wanted to add my thanks to the many people who have helped us on our journey so far.

I spoke with StepChange for the first time today as I wanted to double check my figures and generally chat through a few things.

The advisor was so impressed by my knowledge he thought I'd done a DMP before! I was pleased to tell him all my info had come from the dear amateurs at DMP support thread who give their time and advice cost and judgement free.

We are at the beginning of our odyssey (journey sounds too short :rotfl:) and already I feel better and more in control.

Have a great weekend all.

zenshi

Well, it appears Bcard have finally defaulted me according to Noddle and the date is registered on there as 2013 :T they still have it logged as a bank account on there even though I have written and complained. I guess it doesn't matter?!

Time_to_face_the_music

Triangle wrote: »

Hi all :hello:

I haven't posted in a while but read every day (I have so many screenshots saved of helpful posts!) I hope everyone is well.

So we are now 6 months into our DMP! Can't believe how quickly the time has flown! I was so worried when I started out and in such a mess - I can't even attempt to explain how much better I feel now and how good it is to actual budget. Plus I still to date have never received a phone call from a creditor, one of my biggest fears!

My husband and I entered the DMP with four debts. This is where we up to 6 months on:
*Joint loan - defaulted, still with orginal creditor
*My credit card - defaulted, passed to another creditor in same banking group
*My store card - showing as 'late payment and still being charged interest :mad: This is the smallest debt we have.
*Husband's credit card - showing as 'late payment' and charging a stupid amount of interest:mad:

Next month I need to do a overhaul of finacnes (salary increased but Child Tax Credit ending) I plan to complete a Stepchange review too to tweak a few bits. As part of this overhaul I will write letters to the two creditors still charging interest. From reading the thread I do feel that the only way I can solve this is probably to go self-managed (very notorious creditors!) Im not sure I'm quite ready to do this just yet but if I've had no joy, I definately plan to do this in time for our one year DMP anniversary.

Massive thanks to all who post. I was just looking at another thread on DFW about fee charging DMP companies going into liquidation and people loosing thousands. It's made me so sad

I am so so grateful to MSE!

T

Hi Triangle :hello:

Re creditors still charging interest have you written official letters of complaint (you need to state it is a complaint) to your creditors and then followed up via the FOS? This is the first path you need to take, then if it doesn't work, I would then suggest going self managed as you mentioned.

If you haven't already complained, please let me know if you need a letter template and/or help with contacting the FOS.

TTFTM x

Sazzie23

zenshi wrote: »

Well, it appears Bcard have finally defaulted me according to Noddle and the date is registered on there as 2013 :T they still have it logged as a bank account on there even though I have written and complained. I guess it doesn't matter?!

Hey Zenshi,

How is it going? Well done girls getting the BC default, I don't know whether it actually 'matters' that it's shown as a back account, but it would matter to me just in the fact that it's incorrect and I would want it changing.

If it matters to you I'd fight it. Not exactly sure who would be best to complain to, try again with noddle, then check up if noddle is part of a regulated body and complain to them. Others might have a better suggestion.

Saz

Sazzie23

Ellieseleven wrote: »

I know that feeling Growurown and I'm still on my DMP:eek: I was offered a far better deal for my TV, phone & Broadband which would save me some money each month so I decided to apply. Everything was fine until the operator said "We are just going to do a credit check..." I panicked and tried to back out of the whole thing but in the end the check was done and I passed:o
I was bothered that this will be viewed as taking more credit or the embarrassment of being rejected but I figured that the amount I'm saving each month is a good thing and could go towards my debt's (unfortunately this won't happen as the Council Tax and Gas/Electric has gone up:()


Ellie x

Yes I remember my heart being in my boots last year when I went through the same thing and changed the suppliers into my name, I thought I would just cut and run but then realised I needed the phone line for the burglar alarm so was stuck with staying and just hoped. But nothing was said and the transfer went ok, well it didn't but nothing to do with credit check:mad:.

My water bill has gone up too but only 35p more than I estimated on latest review