DMP & Mutual Support Thread - Part 11

make_the_change

make_the_change wrote: »

Hi All,

Haven't been around for a while due to personal reasons. As some of you know I am desperate to move home so now need to do some mega saving towards that. My creditors are due for an update soon so was wondering if anyone had any advice on how to approach this as I need to continue to make token payments to be able to save to move.

Thanks

Can anyone help? Thanks x

KID77

Hi Make The Change
I haven't done token payments to creditors so probably not the best person to advise but I would just say your situation hasn't changed and you need to continue on token payments.
KID x

sourcrates

make_the_change wrote: »

Can anyone help? Thanks x

Hi,

Just carry on with token payments.

Your goal at present is to move house, creditors will have to wait, it's that simple !!

make_the_change

sourcrates wrote: »

Hi,

Just carry on with token payments.

Your goal at present is to move house, creditors will have to wait, it's that simple !!

Thank you. Should I write to them and explain this?

Bouncybubbles

I am just starting my DMP with payment around the £347 mark which is high but means I will be debt free in 2years and a few months. However my husband has a CC with 3K on it and as of September I start a new job which should be an extra £150ish each month. Now my plan was to reduce what he gives me by £100/month so he can pay off his CC and we would still be £50/month better off due to job. My question being do I have to declare this to step-change that I will be earning slightly more? Will it make them increase my payments automatically even though I'm doing it to help hubby pay his debts off?

Just to add I was hoping to save the extra £50ish/month for an EF

sourcrates

make_the_change wrote: »

Thank you. Should I write to them and explain this?

You can if you wish, but really you are seriously over thinking this.

You could stop paying now, and only have a 10% chance of any of your accounts ever ending up in court.

Just do what you need to do, the rest will fall into place !!

Scottishmummy

Bouncybubbles wrote: »

I am just starting my DMP with payment around the £347 mark which is high but means I will be debt free in 2years and a few months. However my husband has a CC with 3K on it and as of September I start a new job which should be an extra £150ish each month. Now my plan was to reduce what he gives me by £100/month so he can pay off his CC and we would still be £50/month better off due to job. My question being do I have to declare this to step-change that I will be earning slightly more? Will it make them increase my payments automatically even though I'm doing it to help hubby pay his debts off?

Just to add I was hoping to save the extra £50ish/month for an EF

I wouldn't bother and even if you let it slip accidentally you can tell them your husband has decreased his contribution in order to pay off his debt.

Redstone2017

Dropped by debt management company after 7 Year 3rd Apr 16 at 9:23 AM

o sure how to start a new thread on this forum ,sorry

Hello everyone
I wonder if anyone could help . We have been in a debt management since 2009 and never missed a payment . We received a letter dated on 18.3.2016 yesterday 1.4.2016 after they had taken a payment on 24th March.
They basically say that its no longer viable for them to carry on with debt management. We have never been completely satisfied with the service , and basically feel let down and stressed with the situation we are now facing. We have to contact each creditor and deal them. We were told we would be debt free in 11 years . Is there anywhere we can go and say we have been mis-sold this debt management , nearly £5000 was added in interest when we were told that our debt £23,300 would be froze . The statements never made sense and if you call them they blind you with figures and confuse you. We paid £176 A month and the first year when they were dealing with creditors we were told that it would be banked and they would use this to negotiate with them near the end of the plan, now they are saying it was a fee, i would really appreciate any help , thank you

Bettyboo85

Hi all.

It took me a lot of courage to admit I was struggling with debt. I had missed a payment and was directed to Step-change (who have been amazing!) I have 8k of debt and will hopefully be debt free in 4years.

5 of 6 creditors have agreed to my DMP but this doesn't stop me worrying. I make my first payment 1st May and I'm just hoping everything will be ok. I'm scared of receiving letters and how they work (got my first default this morning!). When you start making payments, do things start dying down? Or do they get worse?! I cannot help worrying that I'll have bailiffs at the door or even worse they'll make me sell my house. I'm worried that I'll have to go to court...the list goes on and on!! I just hope they'll accept my offers. Anyway sorry for rambling, I'm so glad I found this blog, I've been hopping in and out the past few weeks since I started to set up my DMP.

Any advice or reassurance will be appreciated. I'm a natural worrier and do not like change but I hope I'm doing the right thing. I'd hate to lose everything

Liz xxxx

P.s one of my creditors (capital one) set up the agreement for the wrong month. They said they would receive first payment 28th April and not 28th may like step change had arranged after taking payment from me 1st may. When I call capital one, they said they couldn't change the date until 29th April so I made a token payment of £1 for this month and just hope that they don't class it as missing a payment as they got the date mixed. Step change are going to resend the agreement. Will this be ok? Xx

sourcrates

Redstone2017 wrote: »

Dropped by debt management company after 7 Year 3rd Apr 16 at 9:23 AM
o sure how to start a new thread on this forum ,sorry

Hello everyone
I wonder if anyone could help . We have been in a debt management since 2009 and never missed a payment . We received a letter dated on 18.3.2016 yesterday 1.4.2016 after they had taken a payment on 24th March.
They basically say that its no longer viable for them to carry on with debt management. We have never been completely satisfied with the service , and basically feel let down and stressed with the situation we are now facing. We have to contact each creditor and deal them. We were told we would be debt free in 11 years . Is there anywhere we can go and say we have been mis-sold this debt management , nearly £5000 was added in interest when we were told that our debt £23,300 would be froze . The statements never made sense and if you call them they blind you with figures and confuse you. We paid £176 A month and the first year when they were dealing with creditors we were told that it would be banked and they would use this to negotiate with them near the end of the plan, now they are saying it was a fee, i would really appreciate any help , thank you

Hi Redstone,


You really need to start your own new thread, big blue button, left hand side, at the top of the DFW forum page, or maybe if Fermi picks this up, he can move it for you.