DMP & Mutual Support Thread - Part 11

Triangle

Me again

I've just completed a budget review on Stepchange as lots of things to change including new CTC amount, wages etc. Also took advice from lovely people on here and added a couple of caterogries to allow for some 'wiggle room.' As a result I've added a couple of months to DMP but it is still shorter than orginal date when I started in September Plus big changes ahead - when my eldest starts school in Spetember we should be saving approximately £300/month on his nursery fees :eek: Planning to get back on pension scheme at work and wil have calculate after school childcare but still hope to pay approx an extra £100/month towards DMP

Next step - get those letters written to the two creditors who are still charging stupid amounts of interest!

BeingDebtFreeStartsHere

Triangle wrote: »

Me again

I've just completed a budget review on Stepchange as lots of things to change including new CTC amount, wages etc. Also took advice from lovely people on here and added a couple of caterogries to allow for some 'wiggle room.' As a result I've added a couple of months to DMP but it is still shorter than orginal date when I started in September Plus big changes ahead - when my eldest starts school in Spetember we should be saving approximately £300/month on his nursery fees :eek: Planning to get back on pension scheme at work and wil have calculate after school childcare but still hope to pay approx an extra £100/month towards DMP

Next step - get those letters written to the two creditors who are still charging stupid amounts of interest!

Hi Triangle,

Just a friendly word of warning from someone with children at primary school - don't bank on using a large chunk of the money you save from nursery fees towards your DMP. I thought I would save a fortune when my kids started school, however there are always things to pay out - snack money, day trips out, discos, etc etc. Every couple of weeks we seem to be sending money in to school for something or other!!
Just make sure you are still giving yourself enough wiggle room in your budget as well as using some of this money saved towards increasing your DMP payment

BDFSH x

Triangle

BeingDebtFreeStartsHere wrote: »

Hi Triangle,

Just a friendly word of warning from someone with children at primary school - don't bank on using a large chunk of the money you save from nursery fees towards your DMP. I thought I would save a fortune when my kids started school, however there are always things to pay out - snack money, day trips out, discos, etc etc. Every couple of weeks we seem to be sending money in to school for something or other!!
Just make sure you are still giving yourself enough wiggle room in your budget as well as using some of this money saved towards increasing your DMP payment

BDFSH x

Thanks for the advice
Very excited by it all - though can't quite believe how quickly time flies!

Ali80

I knew things were too good to be true with Barclaycard!! Have read everyone's posts saying they keep charging interest, refuse to default etc etc. Had an email from them yesterday saying there's an important message in my latest statement (I have online statements, no letters), so I logged into my account to find that the interest has been hiked up from 0% over the last 12 months, to 29.9% without warning. I had £98 interest slapped on this month, plus a late payment fee as my Dmp payment doesn't even cover the interest, let alone the £138 minimum payment they are asking for!! I sent an online secure message which they have not yet replied to. What should I do next? If they refuse to reduce the interest could I take the debt out of my Dmp and offer token payments to try and force their hand in defaulting me? Guess SC wouldn't be too happy about that. Don't really feel ready to self manage yet

BeingDebtFreeStartsHere

Triangle wrote: »

Thanks for the advice
Very excited by it all - though can't quite believe how quickly time flies!

I know!!

Hope you got your 1st choice and that your eldest loves "big school"

BDFSH x

January2015

Well good news in the post today. BC accept our financial situation (in the words of Mrs Brown....'that's nice'). The will accept our token payments and will, in due course, close the accounts. This will mean they are likely to transferred and we will be notified as and when assignment of the accounts takes place.

It's taken almost five months of battling but we have a positive result.

System

January2015 wrote: »

Well good news in the post today. BC accept our financial situation (in the words of Mrs Brown....'that's nice'). The will accept our token payments and will, in due course, close the accounts. This will mean they are likely to transferred and we will be notified as and when assignment of the accounts takes place.

It's taken almost five months of battling but we have a positive result.

Well done...another strike for BC:T:T:T:T:T

Pc2003

I have successfully got a new deal with our current provider, easy as pie. Didn't get your type of rate sadly and interestingly was only offered a couple of deals - sub prime. But I'm now paying £50 less a month, fixed for 5 years for security (and also gives yet another incentive to finish the DMP early!) and shaved two years off [/QUOTE]

Great news!! That's quite a bit off per month sub prime or not!!!


Quiet few days here. Feel quite motivated. Been busy with non expensive things. Funny how little I spend when I am busy doing stuff rather than loitering about wasting money!!

bsclp118

So, my first DMP payment is due to be taken on the 1st of May and I'm kind of... maybe not excited but certainly eager, for it to be taken and get the ball rolling now as it were.

I have lowered my payments from now until September as I need to move house (currently renting and after rats in the kitchen, broken boiler, noisy neighbors, and now rats in the cavity wall - its really time to move!). Depending on what job I end up getting in October I could end up needing to move again so I thought it was best to make room in my budget for relocation costs and such, estate agent fees are the worst!

I've had notices from Natwest, MBNA and Halifax that whilst they accept the lower payment offer it will not stop the account being defaulted (good right??). Still waiting to hear back from Barclaycard and Lloyd's. I am guessing from what I've read on here that BC won't default, which is annoying as it would be nice to default all the accounts and know that 6 years from now they will be gone from my credit record. See how it goes though - fingers crossed!

Can I just ask - once an account has been defaulted can they still charge interest or is the balance then fixed? Just wondering what might happen down the line if I increase my payments....

Scottishmummy

Just wrote a long reply and my pc crashed. It seems to crash just about daily since the last explorer update. I uninstalled the update but no improvement with the pc. I haven't been able to access some of my bank accounts because I can't remember any of my log in details. I use FD Banking Plus but it only works on explorer - and is the only thing I use explorer for - and with the upgrade not letting me access it at all and then the uninstall I have lost all the password details. I can still access FD because it is my oldest account and I can remember the login for it but for everything else I am now waiting on new details coming through the post. At least the FD one is the one that all my money goes into and I can still transfer money over to where it needs to be.

As for everything else I haven't heard anything for a while from any of the other predators re CCAs. Wish they would get a move on.