DMP & Mutual Support Thread - Part 11

KID77

bsclp118 wrote: »

Thanks Sazzie23,

Yeah I think I've finally run out of re-financing options so this is unfortunately the right option.

I'm going to add in a few things I missed off my original form when I sent it in and ask if I can add a £50/month emergency fund. I have no savings and given I'm going to have no access to credit I'm worried about things cropping up that I need to prepare for. Do you think this is a reasonable thing to put on a DMP?

Yes definitely, make sure you allow the emergency fund at 50 as well as all the things you don't normally think of. I only started in July but on 1st August, I had to renew my house insurance and tax my car so make sure you allow yourself as much as possible. Stepchange will understand that at first you were just trying to pay off as quickly as possible but now thinking about it, you haven't given yourself enough money to live so want to re do your budget.

One other thing I would say, is look into claiming PPi if applicable, my husband just got back some money so that has certainly helped our emergency fund/f&f fund.

Keep us up to date on this thread as its good for others as well as you to share whats going on :-)

KID77

Just thought I would update everyone on our Noddle Credit Reports which were updated today:-
Bank accounts - Defaulted
Bank loan - Defaulted
All credit cards - Showing either AA 1 month or 2 months, this includes Barclaycard, not sure if this will change to AR or go to Default

Both our reports are now 1/5, mine was previously 3/5 and my husband 2/5. As ridiculous as it sounds I was actually quite excited to log on and see the reports, only another 30 days til the next one :-)

xx

racht

January2015 wrote: »

Hi everyone

DMP now into the 6th month of a forecast 107 - only 101 to go then

Very aka NCO Shop Direct have apparently not received SC payments for July and August. This is so frustrating. SC tell me not to worry about it, Very say it's nothing to do with them and NCO are, helpfully, looking into finding the payments. They've been looking for a week now and haven't found them yet.

I can definitely see some benefits to going self managed because then situations like this wouldn't happen as it would be me making a payment to NCO and I would have the evidence of the direct payment in front of me. However I don't think we are quite ready for that step yet. I know we are committed to the DMP, but sometimes I wonder if DH totally 'gets it' yet.

Hope everyone is well. I don't post much, but I do pop on most evenings and keep up with the forum and most especially this thread.

I remember when my Very payment was set up that it went missing at first, I have a feeling they sent new payment details to Stepchange but not sure. My original payment was returned to Stepchange and then resent.
I just looked at my old statements- I started DMP Aug- no payment was received, I sent a token of £1 payment so at least they received something in September and then finally had 2 payments added from SC on 27th Sept and 1st October. All payments have been received ok after this- but do take normally 2 weeks to show up?
Hope this helps put your mind at rest that they will show up- I remember how frustrating it was at the time and all the emails I was sending at just wanted it all sorted asap.

Triangle

Kid - wow you got defaults early! :j

Hi everyone, hope all is well :hello:

Tx

Growurown

Hi everyone, feeling a bit fed up. A couple of months ago our car was written off by, as it turns out, an uninsured driver. Our insurers have handed it over to their solicitors and they are pursuing it, but because the case isn't closed we haven't had our excess returned. The other driver was at fault because he came out of a side turning and hit our car.

The insurance company paid out and we bought a second hand car but it is turning out not to be a good deal either. We had problems at the start with it and the dealer repaired it, and for a while it was running OK, but now the engine keeps cutting out when we are driving along and sometimes it will start and sometimes it won't. No faults are showing on the computer so the garage are a bit in the dark as to where the problem is. So the car's back in the garage. We don't have enough money to purchase another car, so it's all a bit worrying. Not sure what we are going to do if the fault can't be found and fixed.

Plus the washing machine blew up and we've had to use some of the emergency fund to buy a new one and now the immersion heater has stopped working! It doesn't seem to be our month. I've only got four more payments on my DMP until I am debt free and I really don't want to jeopardise that by having to make reduced payments etc. OH is really fed up about it all too, so we are being grumpy together.

sourcrates

Growurown wrote: »

Hi everyone, feeling a bit fed up. A couple of months ago our car was written off by, as it turns out, an uninsured driver. Our insurers have handed it over to their solicitors and they are pursuing it, but because the case isn't closed we haven't had our excess returned. The other driver was at fault because he came out of a side turning and hit our car.

The insurance company paid out and we bought a second hand car but it is turning out not to be a good deal either. We had problems at the start with it and the dealer repaired it, and for a while it was running OK, but now the engine keeps cutting out when we are driving along and sometimes it will start and sometimes it won't. No faults are showing on the computer so the garage are a bit in the dark as to where the problem is. So the car's back in the garage. We don't have enough money to purchase another car, so it's all a bit worrying. Not sure what we are going to do if the fault can't be found and fixed.

Plus the washing machine blew up and we've had to use some of the emergency fund to buy a new one and now the immersion heater has stopped working! It doesn't seem to be our month. I've only got four more payments on my DMP until I am debt free and I really don't want to jeopardise that by having to make reduced payments etc. OH is really fed up about it all too, so we are being grumpy together.

Engine cutting out, sure thing it's the ignition coil, easy and cheap to replace !!

Sazzie23

Growurown wrote: »

Hi everyone, feeling a bit fed up. A couple of months ago our car was written off by, as it turns out, an uninsured driver. Our insurers have handed it over to their solicitors and they are pursuing it, but because the case isn't closed we haven't had our excess returned. The other driver was at fault because he came out of a side turning and hit our car.

The insurance company paid out and we bought a second hand car but it is turning out not to be a good deal either. We had problems at the start with it and the dealer repaired it, and for a while it was running OK, but now the engine keeps cutting out when we are driving along and sometimes it will start and sometimes it won't. No faults are showing on the computer so the garage are a bit in the dark as to where the problem is. So the car's back in the garage. We don't have enough money to purchase another car, so it's all a bit worrying. Not sure what we are going to do if the fault can't be found and fixed.

Plus the washing machine blew up and we've had to use some of the emergency fund to buy a new one and now the immersion heater has stopped working! It doesn't seem to be our month. I've only got four more payments on my DMP until I am debt free and I really don't want to jeopardise that by having to make reduced payments etc. OH is really fed up about it all too, so we are being grumpy together.

Oh bad car :mad: but don't give up GUO things are bound to be tense with all this going on, but you know you'll find a way through it? Possible to take it to a different garage?

Can't think of anything sensible to offer in terms of financing, but while I know your DFD is close, it's not the end of the world if it's 6 months instead of 4, probably relieve your stress a bit?

Ps harbinger of doom, when we tried to fix our emersion heater years ago, ended up with no cold water and havin to replace the whole tank, so I'd say leave it alone until you know you can fix it, use the shower for hot water?

KrazyKel

I had been trying to decide to go DMP or not for a long time now but never went ahead as always worried about ruining my credit so ive been trying to ebay and earn more and cut back a lot and managed to save £1500 over the last 2 months to pay off my debts and i was really pleased - had a good month! (Cleared a £1400 Nationwide CC)

... then Ive just gone and won £10,000 which will clear up over half of my debt! so thrilled!
Also slightly gutted that I cant enjoy it like I could have if I wasnt in debt but I know I need to clear this debt and can see an end to being in debt a lot sooner than I would ever imagined!

I just dont know which cards/overdrafts to pay off with it!
I have almost £5000 overdraft so thats first to go as that costs me around £70 in fees each month

I then have £5000 to put towards other Credit Cards, all interest rates are similar 19.9 or something :
ASDA CC £3200
Barclaycard £4800
MBNA £2250
Virgin £3200

I haven't updated my address on my Virgin CC but Ive got an offer of 0% till 2017 (to my surprise) - will updating my address affect that?

My plan is using £3200 to pay off the Virgin in Full, then using the £4400 Available balance to transfer to barclaycard and get that paid off in full, ive had offers from barclaycard previously so hoping If i pay that off and my credit score improves I could maybe get the Asda and MBNA onto that as 0% in the future..
Ill still have Asda, MBNA and then the full Virgin to pay off...

Will still have about £1500 left which I may keep in my bank as emergency fund or use towards remaining credit cards, plus will continue earning more/saving to get the rest down

Im 30 in March so I would love to start my 30's debt free and new start! :j:j:j:j:j:j

Growurown

sourcrates wrote: »

Engine cutting out, sure thing it's the ignition coil, easy and cheap to replace !!

Well that's what the AA man thought but it isn't a sudden stop, the engine sort of slowly loses power and then stops. It has had a new coil pack and one of the spark plugs was cracked which was replaced.

Sazzie23 wrote: »

Oh bad car :mad: but don't give up GUO things are bound to be tense with all this going on, but you know you'll find a way through it? Possible to take it to a different garage?

Can't think of anything sensible to offer in terms of financing, but while I know your DFD is close, it's not the end of the world if it's 6 months instead of 4, probably relieve your stress a bit?

Ps harbinger of doom, when we tried to fix our emersion heater years ago, ended up with no cold water and havin to replace the whole tank, so I'd say leave it alone until you know you can fix it, use the shower for hot water?

Yes I could extend the DMP and I know it won't be the end of the world, but I'm so close to the end and so looking forward to being debt free. I'm pretty mad at the guy who hit us because the old car was one we had bought from new and it was fine. Now we've seem to have landed up with a lemon again.

I think my real worry about all this is where are we going to find the money from to buy a replacement car. I could approach my credit union for a loan but pretty sure the credit record will put a stop to that. Last resort would be asking my Mum:(

Growurown

KrazyKel wrote: »

Im 30 in March so I would love to start my 30's debt free and new start! :j:j:j:j:j:j

Well done KrazyKel!