DMP & Mutual Support Thread - Part 11

LadyMorticia

sourcrates wrote: »

Lady morticia, love the name by the way, what exactly is it that worrys you ?
Ive read hundreds of posts similar to yours, from people who don't know what to expect when entering a DMP.

To you it's the big Unknown, to people like me, I've been there done that, lived through it, you should not worry about how your creditors will view your DMP, they either like it, or lump it, if they lump it, they simply sell your account on, and stepchange deal with another creditor.

What I'm trying to say is that things will carry on no matter what, whoever owns your debt, sc will deal with them, they will always ask for interest and charges to stop, and once an account gets sold, this happens anyway, try not to worry about things you have no control over, it will work out eventually.

Sazzie23 wrote: »

Hi Ladym
Welcome to DMP land, it is normal to worry, and many will understand your anxieties. As Sourcrates says, try to look at your reasons for worry and deal with them rather than worrying about the whole situation, as it will work out OK, it just takes time.

We usual suggest to expect a couple of hiccups, they often happen at the start, perhaps a creditor will take a while to sort out the details and keep sends you reminders to pay, or a creditor might 'reject' the plan, SC will tell you to keep paying and the world will not fall in.

I found being informed about stuff, defaults, credit files, DCA etc reduced the anxiety when I got letters or had to contact the creditors for any reason.

Come on here and rant, question, share your worries or curse and we'll always try to help, sympathise and point you in the right direction, so you are not doing this in your own.

Saz

Thank you both so much for your replies. I think I just overanalyse everything and I worry about us losing our home, even though my debts are unsecured and we rent so I know that's stupid really.

I think my mind is just full of what-ifs. What-if SC refuse to put me on a DMP (I'm not sure why they would!), what if I still get hounded by creditors and they try to take me to court.

As you've said this is all the unknown to me and I'm not entirely sure what to expect. I find dealing with creditors so stressful and I haven't been able to sleep properly in weeks because of it.

I just want to get our life and finances back on track.

sourcrates

LadyMorticia wrote: »

Thank you both so much for your replies. I think I just overanalyse everything and I worry about us losing our home, even though my debts are unsecured and we rent so I know that's stupid really.

I think my mind is just full of what-ifs. What-if SC refuse to put me on a DMP (I'm not sure why they would!), what if I still get hounded by creditors and they try to take me to court.

As you've said this is all the unknown to me and I'm not entirely sure what to expect. I find dealing with creditors so stressful and I haven't been able to sleep properly in weeks because of it.

I just want to get our life and finances back on track.

I found the best way to deal with things was to insist on written contact only, block any creditor phone numbers that ring you, you will not lose your home, especially as you rent, it can't happen.

The idea of using a debt charity like stepchange is that they do all the legwork for you, they deal with your creditors on your behalf, all you have to do is make your monthly payment and get on with your life basically.

Court action is unlikely, but even if a creditor did take you to court, it's not something to worry over, you don't physically attend court, it's all done online and by post, all that happens is you fill in the papers, and a judge agrees an affordable monthly payment, which you would pay via stepchange, as you are now.

When you look at things in detail, you will se there no need to worry about any of it !!

Puzzcat

LadyMorticia wrote: »

Hello. Me again.

Please may I ask you about interest being suspended? I currently have debts with Littlewoods and Very (who are both Shop Direct), Argos, Capital One, Vanquis, Aqua and H&M. Has anyone successfully had the interest suspended on any of these when they know you're on a DMP with SC?

Littlewoods were the ones who actually put me in touch with SC and SC say they have a good relationship with creditors, but as someone who suffers severely with anxiety, I'm still worrying immensely.

Thank you.

Hi Lady Morticia,

Lots of good advice already given. If I can just add my thoughts... Have you managed to find time to read through this thread or the past one's. if not then you should, loads of information that will reassure you and answer lots of questions you don't know you want to ask yet..!!

I will also add that although SC do the legwork, it will be down to you to check and update your figures from statements, don't assume that what shows on SC's debt figures is accurate as they don't account for any interest being added. Unfortunately creditors don't have to freeze interest but in the main they do, and for any that don't we can pop up a template letter for you to send, just ask..!

My biggest cc debt is with Capital One and I have had no trouble with them at all.

Love Puzz. x

LadyMorticia

sourcrates wrote: »

I found the best way to deal with things was to insist on written contact only, block any creditor phone numbers that ring you, you will not lose your home, especially as you rent, it can't happen.

The idea of using a debt charity like stepchange is that they do all the legwork for you, they deal with your creditors on your behalf, all you have to do is make your monthly payment and get on with your life basically.

Court action is unlikely, but even if a creditor did take you to court, it's not something to worry over, you don't physically attend court, it's all done online and by post, all that happens is you fill in the papers, and a judge agrees an affordable monthly payment, which you would pay via stepchange, as you are now.

When you look at things in detail, you will se there no need to worry about any of it !!

Puzzcat wrote: »

Hi Lady Morticia,

Lots of good advice already given. If I can just add my thoughts... Have you managed to find time to read through this thread or the past one's. if not then you should, loads of information that will reassure you and answer lots of questions you don't know you want to ask yet..!!

I will also add that although SC do the legwork, it will be down to you to check and update your figures from statements, don't assume that what shows on SC's debt figures is accurate as they don't account for any interest being added. Unfortunately creditors don't have to freeze interest but in the main they do, and for any that don't we can pop up a template letter for you to send, just ask..!

My biggest cc debt is with Capital One and I have had no trouble with them at all.

Love Puzz. x

Thank you both so much. I know I shouldn't worry, but worry is my middle name!

I do feel relief about being on a DMP though. My payments are down to £208 a month rather than the £400 or so before and it means that we might have some money left over to save a bit some months (although, I feel guilty about this and I'm not sure why!)

I haven't managed to read all the way back yet. Just posts here and there but I'm hoping to set aside some time when the kiddies are out later this week to go through it all.:o

KID77

Hi All

Haven't posted lately but still read most days, I can see our experienced DMPers respond with great advice as always so dont feel there is much I can add.

Welcome to all the Newbies, this is the best place for advice and to just know you are not alone is such a relief.

All okay my end, everything defaulted including BC, my DFD is a long way away but my plan is to get rid of debts within the next 5 or 6 years if I can. May not be possible but will give it a good go.

Take care everyone xx

Coinmachine

LadyMorticia wrote: »

Thank you both so much for your replies. I think I just overanalyse everything and I worry about us losing our home, even though my debts are unsecured and we rent so I know that's stupid really.

I think my mind is just full of what-ifs. What-if SC refuse to put me on a DMP (I'm not sure why they would!), what if I still get hounded by creditors and they try to take me to court.

As you've said this is all the unknown to me and I'm not entirely sure what to expect. I find dealing with creditors so stressful and I haven't been able to sleep properly in weeks because of it.

I just want to get our life and finances back on track.

A good idea which worked for me is if you have online access to credit card accounts go in and check your details and delete any phone numbers stored or replace with a made-up number if you have to put something. Worked for me, I was only ever called by one creditor and that was one where I couldnt amend the phone number online.

BeingDebtFreeStartsHere

Sazzie23 wrote: »

Woohoo, at last. How long did it take ?

Signature is looking good

Thanks Sazzie - now sub 60k

Been on the DMP for just over 18 months - paid approx £50 per month to BC for the duration - didn't have to drop to token payments and they have only ever charged a bit of interest when they didn't get the I&E update from SC then stopped it again as soon as it was sorted.

I guess we've been pretty lucky with them compared to some stories I have read on here.

Hoping the default gets sorted quickly.

Take care,

BDFSH x

Puzzcat

BeingDebtFreeStartsHere wrote: »

Thanks Sazzie - now sub 60k

Been on the DMP for just over 18 months - paid approx £50 per month to BC for the duration - didn't have to drop to token payments and they have only ever charged a bit of interest when they didn't get the I&E update from SC then stopped it again as soon as it was sorted.

I guess we've been pretty lucky with them compared to some stories I have read on here.

Hoping the default gets sorted quickly.

Take care,

BDFSH x

Don't want to burst your bubble but I received a few default notices from BC but they never registered the default. Luckily the debt has now been sold so showing as default under new ownership! Keep the champagne on ice until the cra' s show the big red D.
Puzz.x

BeingDebtFreeStartsHere

Puzzcat wrote: »

Don't want to burst your bubble but I received a few default notices from BC but they never registered the default. Luckily the debt has now been sold so showing as default under new ownership! Keep the champagne on ice until the cra' s show the big red D.
Puzz.x

Thanks Puzz

Will be checking Noddle regularly - the champers will be firmly stuck in the ice until I see that lovely default!!

BDFSH x

Robots

Hi all,

Lurker here. Coming out of the mothy purse to join the fray now I've been on my DMP a few months.