DMP & Mutual Support Thread - Part 11

Sazzie23

bsclp118 wrote: »

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....

Defo time to move, hope you find the right place soon.
BC will default eventually, just takes them a while to get with the programme as it were. In theory when defaulted they could add interest again, but this only applies to original creditors, and is not usual practice.

Scottishmummy wrote: »

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.

Computers :mad: hope you sort it all out. My old laptop wants me to update to windows 10 button disinclined for the sort of problems you mention.

Fingers crossed CCA results will appear shortly.

Coinmachine

Made my first full and final settlement offer but its been three weeks today and not heard back - how long should I give? I have started with the creditor I owe the least amount to. Just wondering how long I should give it before approaching the next one up.

sourcrates

Coinmachine wrote: »

Made my first full and final settlement offer but its been three weeks today and not heard back - how long should I give? I have started with the creditor I owe the least amount to. Just wondering how long I should give it before approaching the next one up.

Nothing wrong in backing up the letter with a phone call.


Just make 100% sure you get any acceptance in writing, and that the remaining balance will not be chased.


Very important !!!

Earthmother_2

Hi all, we have been trundling along paying our dmp, but now out of the blue my husband has dropped the bombshell he has been sleeping with some skank at work for the past two years. He's now living at his dads and says that he will continue to pay our mortgage and bills etc. I am in the process of getting legal advice, but wondered should I notify stepchange and where I stand. We still owe around £17k, £10k of it is a joint loan and the rest is in his name. We did a joint DMP because I was always the one to sort out everything. Am I still liable for half the debt, or just half of what is in joint names? We have two teenagers (14 and 15) and they are here with me.

Also should I notify the mortgage provider or keep quiet? Thanks in advance.

sourcrates

Earthmother wrote: »

Hi all, we have been trundling along paying our dmp, but now out of the blue my husband has dropped the bombshell he has been sleeping with some skank at work for the past two years. He's now living at his dads and says that he will continue to pay our mortgage and bills etc. I am in the process of getting legal advice, but wondered should I notify stepchange and where I stand. We still owe around £17k, £10k of it is a joint loan and the rest is in his name. We did a joint DMP because I was always the one to sort out everything. Am I still liable for half the debt, or just half of what is in joint names? We have two teenagers (14 and 15) and they are here with me.

Also should I notify the mortgage provider or keep quiet? Thanks in advance.

Hi,

What a horrid situation for you to be in.

You are both equally liable for your joint debts, if you are both happy to continue paying half each, then that's fine, but anything in his name alone is nothing to do with you, and you are not liable for his debts.

As long as he keeps paying the mortgage then there is no reason to contact the mortgage provider, but obviously situations may change, so be wary.

[Deleted User]

Earthmother, so sad to read about your awful situation.
No advice to offer on your queries but just wanted to offer you some virtual hugs:kisses3:.

Someone else who has more knowledge and experience will surely come along and advise you.

Stay strong:)

Earthmother_2

Thank you, it's so scary he is the main earner, I only have a little part time job. I am dealing with the emotional stuff, but having all the financial worries on top is a nightmare

phoenixx

Earthmother wrote: »

Thank you, it's so scary he is the main earner, I only have a little part time job. I am dealing with the emotional stuff, but having all the financial worries on top is a nightmare

Sorry to hear this - thinking of you. I think you should keep SC posted on any developments. Like you say - hard enough to deal with without the financial issues. Xx

MrsSammyB

bsclp118 wrote: »

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....

Hiya - Argos defaulted me almost immediately and still charge me interest every month I've tried everything to get them to stop, but I pay too much through SC. I'm not brave enough yet to go self managed, but it's on my to do list!

Sazzie23

Earthmother wrote: »

Hi all, we have been trundling along paying our dmp, but now out of the blue my husband has dropped the bombshell he has been sleeping with some skank at work for the past two years. He's now living at his dads and says that he will continue to pay our mortgage and bills etc. I am in the process of getting legal advice, but wondered should I notify stepchange and where I stand. We still owe around £17k, £10k of it is a joint loan and the rest is in his name. We did a joint DMP because I was always the one to sort out everything. Am I still liable for half the debt, or just half of what is in joint names? We have two teenagers (14 and 15) and they are here with me.

Also should I notify the mortgage provider or keep quiet? Thanks in advance.

Hi Earthmother

Sorry this is rubbish for you and the DC, I always think teens take it very hard when parents relationships get rocky, but who likes change?
Agree with Sourcrates you are only liable for the joint debt and debt in your name, but if you are reliant on Ex DH to pay mortgage and bills things can get tricky so try not to rush into anything.

For now keep quiet to mortgage folk etc but first sign of trouble paying, call them and tell them. In my mind I'm thinking scenarios, what if Ex DH decides to get his own place, and can't afford to pay for both....or :eek:move in with this skank or another etc, or he stays with dad but will have to contribute there and probably want to socialise more but on a DMP there's not usually too much spare etc.

Alternatively, and I suspect not many people will suggest this but I'm putting it out there : would you consider either a) getting back with him, counselling is out there, people have got through this sort of thing but only you know how you feel or b) having him back on a separate lives relationship ? Again many do and either way it's often a more stable solutions whilst debt is being paid but it's a big emotional price to pay for slightly more financial stability. Remember doesn't matter what anyone else thinks, it's about what's right for you and DC.

Thinking about the debt, even though it's in his debt, in reality did you both contribute to accruing, was it family holidays and shopping or was it debt he solely acquired? He's less like likely to want to take it all on if it's jointly acquired.

Sounds like you are still on speaking terms which is excellent, try to show him a list of what the bills actually are so he knows what he needs to actually pay. If it looks like it's going to be a financial problem, maybe talk to stepchange to see what the options are.
You can put DMP on hold for a while if you need to, just pay tokens (stepchange like £5 per creditor per month).


It's a scary and horrid time and I send you big hugs to get through it.

Saz