DMP & Mutual Support Thread - Part 11

gilmum

Mkl79 wrote: »

Ok,great,i'll see what i can do,thank you.
On another note,the old banks cant raid your new basic bank account can they? I've set one up with an unrelated bank but in the process of transferring,my new details would have been used on my old accounts,(transferring dd's and the cash to pay them). My very small emergency fund (less than £100 so far) is in the new account,is it safe?

Yes it's safe they can't just take money out of your account. They can only see the account if they did a credit check but I don't think bank account balances in credit show on this (doesn't on my credit account anyway). I would think it is only if you have judgment against you on a debt that the courts could look at what capital you have.

It does take time to get confidence in this process - for the first 2 years I would go out of my way to get cash out of my bank account rather than paying my debit card for a McDonalds treat for my kids in case any creditors saw I was being extravagant with my money. Neither my DMP organisation or creditors have seen my bank statements in 2 1/2 years and I now have the confidence to do what I like with my money. It's easy to feel like a criminal and that you're being watched but actually you are a responsible human being who is doing their best to resolve a difficult situation. You don't give up control or the right to privacy when you enter a DMP. What I would say is, you now won't have credit cards for the emergencies which do crop up in life, so a emergency fund is a great idea and also resist the temptation to be frugal in what expenses you claim in your budget (this was a difficult lesson for me as I wanted to repay us much debt as possible as soon as possible) however, I simply could not live on the first DMP budget as I hadn't included things like expenses for the many hospital appointments I attend for my kids as 2 have a genetic problem, or pet food / vets bills etc for our 3 cats, or the mileage I do visiting my elderly parents who need me to help them. Your DMP is likely to last a while so be generous to yourself when setting out your needs.

Good luck with it I am sure you have made the right decision.

Mkl79

Thanks for all replies. Yes i do feel nervous,guilty etc but then i remember how monumentally c@$p i have felt for the last 8 years and this is sooooo much better than that!! (Sure you all know what i mean!).
Just had my first creditor letter... MBNA,accepted dmp and frozen interest&charges for duration! One down six more to go. They have asked me to honour this months payment though,should i bother?
Once again thanks for all replies and hope everyone is ok.

Ellieseleven

BC have now started to re-apply interest to one of our CC accounts 5 years and 8 months after our DMP started...looks like it is time to join the self-managed gang;)


Ellie x

Bouncybubbles

I have been to alter my wages today so they are paid into my new account. However they will not do this until April at the earliest! so this months will go into my old account, now I have sent them (my old bank) a letter informing them of the DMP coming into play can they just take all my wages from me before I have a chance to withdraw them? I owe the mroughly £1500 CC and £200 O/D

sourcrates

Bouncybubbles wrote: »

I have been to alter my wages today so they are paid into my new account. However they will not do this until April at the earliest! so this months will go into my old account, now I have sent them (my old bank) a letter informing them of the DMP coming into play can they just take all my wages from me before I have a chance to withdraw them? I owe the mroughly £1500 CC and £200 O/D

Hi,

Things don't usually happen that fast, banks do have a right of set off, but there are rules they must follow (Google bank set off).

If your that bothered just transfer the money between accounts as soon as it lands.

Time_to_face_the_music

Ellieseleven wrote: »

BC have now started to re-apply interest to one of our CC accounts 5 years and 8 months after our DMP started...looks like it is time to join the self-managed gang;)


Ellie x

Hi Ellie :hello:

How are BC currently marking your credit file? Not sure if you ever want credit again but a late default could be painful.

Love seeing you getting so close to being debt free :j

TTFTM x

Time_to_face_the_music

Bouncybubbles wrote: »

I have been to alter my wages today so they are paid into my new account. However they will not do this until April at the earliest! so this months will go into my old account, now I have sent them (my old bank) a letter informing them of the DMP coming into play can they just take all my wages from me before I have a chance to withdraw them? I owe the mroughly £1500 CC and £200 O/D

Hi Bouncybubbles :T

Am not sure if your DMP is with Stepchange but if so, they should have told you to not inform your existing bank of your DMP before your money was safely in your new account.

Personally I would be there at midnight with my finger hovering over the button to transfer your wages as soon as they go in!

TTFTM x

Sazzie23

Ellieseleven wrote: »

BC have now started to re-apply interest to one of our CC accounts 5 years and 8 months after our DMP started...looks like it is time to join the self-managed gang;)


Ellie x

They never give up do they,did your payments meet one of their 1% targets or something?

Nothing wrong with self managed but I think if it was me I'd start with a strongly worded 'what do you think you are doing' letter?

Out of interest - scuze the pun, is it defaulted?


Saz

Sazzie23

Time_to_face_the_music wrote: »

Hi Bouncybubbles :T

Am not sure if your DMP is with Stepchange but if so, they should have told you to not inform your existing bank of your DMP before your money was safely in your new account.

Personally I would be there at midnight with my finger hovering over the button to transfer your wages as soon as they go in!

TTFTM x

Hi BouncyB,

I would also do a midnight flit with my money.... Just to make sure:D

Saz

Sazzie23

Morning DMPers

I just wanted to share that I saved £200 on car repairs this month.
Now my car is nearly 13 years old and I'm worried something uneconomical will finally give up so I'm trying not so spend lots on repairs you may be in a different position but I thought this might be useful.

Part 1. My battery was failing at temps lower than -1. Although I could get a new battery for around £55 I decided to look at other options. one thing I remembered the OH used to say to me was to prime the engine in the cold by pumping the accelerator (diesel), and I read on Internet thingy to turn off everything uncecessary, I give it 3 turns on the glow plugs, 2 pumps on the pedal, clutch down turn the key and bingo we seem to get lift off every time, even in the minus temps. (Apologies to neighbours for plumes of smoke:o).
I realised there are indications the new battery will be needed, but when it's needed for the other 350 days a year and not just for the few very cold ones, I'll buy one!

Part2. My car key disintegrated, probably it was run over after I dropped it last year. Whilst I have a spare, the remote function stopped working long ago and I remember being shocked at the time about the cost of replacement. The remote bit is the problem, as there is no way of activating the alarm/immobiliser/deadlocks function without the remote. New key - £130-£150!
Back on the Internet, you can buy spare parts and fit your old remote bits to it...but hold on, I have a spare with in tact plastic bits....so I've stopped my bits over, just needed a screwdriver and 10 minutes, and hey presto,working key for £0. I m going to invest in a new battery and another set of plastic bits for about £5 so I can have a working spare key but it still feels like a win:D

So no mechanical knowledge needed just a bit of research and persistence.

Happy Saz