DMP & Mutual Support Thread - Part 11

Spoonhead88

Not much to update this month, still getting charged interest from Lloyds.

Puzzcat

Spoonhead88 wrote: »

Not much to update this month, still getting charged interest from Lloyds.

Have you written a complaint letter asking for interest to be stopped??

Sazzie23

Puzzcat wrote: »

Hi slightly grumpy bb....

loving your numbers.. thought I would add a few of my own...

original debt - £62002
current debt - £42952
number of creditors - 9
number of defaults - 8 - including BC (expecting the 9th any day now..)
current interest £0.00
number of CO's and CCJ's - NONE....
number of complaints successfully won - 1 x FOS (Creation) and
1 x DCA (PRA)

I started my dmp with SC in November 2013 and went self managed in February 2016.. No issues as yet but I have dropped to 50% payments for June so we will see...!

Love Puzz. x

blisteringblue wrote: »

Don't know if it's just a grumpy start to the week, but I'm finding I read this thread less and less now because it is just the same questions over and over again.

I like to think of myself as a DMP expert, that is not being big headed it's just that I am living it and know how to play the game. And at the end of the day it is a game, and honestly it's a very easy game if you just take time to read the info that is already here.

Guys this thread is now 138 pages long, and it's probably the 10th reincarnation of the original thread. So just to help people on their way

1. Please read as much of this thread before you post a question, honestly it will already be answered in these pages
2. Barclaycard will only stop interest if you stop paying them, or cut your payment to a token £1. Their key number is less than 1% of the total debt to stop interest. Stepchange can't handle this.
3. You are very unlikely to lose your house while on a DMP
4. You are very unlikely to get a CCJ while on a DMP.
5. CCJs and Charging Orders come when you ignore your debts. A DMP is not ignoring your debt.

These are not gospel by any means, but honestly folks, DMPs while not to be taken lightly as they will seriously damage your credit file, they are a godsend to people like you and me. And believe me when I say they are very very easy to manage your way around to get the best results for yourselves.

Slightly Grumpy BB


PS. My Numbers

Original Debt: 61k
Current Debt: 37k
No. of Creditors: 8
Total Interest Being Charged: £0.00
Defaults: 4 (1 being the holy grail of Barclaycard through token payments)

Well done Puzz and BB, your numbers are both looking great and it must be motivating you are still get the debts down.
I think it's normal to stop using the thread as a prop/source of information, particularly when your DMP is organised and if you feel in control.

It is the mutual support, so that's why we keep coming back to support others just starting out or having troubles mid DMP.
Depending on how you access the thread, e.g. I know some are smart phone users it's not always easy to read back much, or if you have a particularly busy life with lots of children on multiple jobs it's time consuming to read back.


It's brilliant to do a little reminder like the one in your post as in the early stages of panic as realisation sets in that you can't pay and a DMP is what you need it can be difficult to sort out the steps you need to do. This is especially true if some major life event has forced you into DMP.

There was a great study recently that people feel more content if they are part of a social group, and I certainly believe this thread has the qualities of a virtual social group and allows people to share worries that perhaps they can't share elsewhere. Long may the DMP mutual support thread survive:D

Saz

Time_to_face_the_music

Puzzcat wrote: »

Have you written a complaint letter asking for interest to be stopped??

and followed it up with the FOS?

I don't post much these days but always have a catch up with how things are going and try and offer a bit of advice if appropriate. There's a post on the main forum that people may want to try and encourage the poster to come and get the help and support that this thread always offers:

https://forums.moneysavingexpert.com/discussion/5437133

Hope all DMPers new and old are doing well and the light at the end of the tunnel gets brighter each day.

TTFTM x

Time_to_face_the_music

Sazzie23 wrote: »

Well done Puzz and BB, your numbers are both looking great and it must be motivating you are still get the debts down.
I think it's normal to stop using the thread as a prop/source of information, particularly when your DMP is organised and if you feel in control.

It is the mutual support, so that's why we keep coming back to support others just starting out or having troubles mid DMP.
Depending on how you access the thread, e.g. I know some are smart phone users it's not always easy to read back much, or if you have a particularly busy life with lots of children on multiple jobs it's time consuming to read back.


It's brilliant to do a little reminder like the one in your post as in the early stages of panic as realisation sets in that you can't pay and a DMP is what you need it can be difficult to sort out the steps you need to do. This is especially true if some major life event has forced you into DMP.

There was a great study recently that people feel more content if they are part of a social group, and I certainly believe this thread has the qualities of a virtual social group and allows people to share worries that perhaps they can't share elsewhere. Long may the DMP mutual support thread survive:D

Saz

Great post Sazzie :T

This thread and its predecessors changed our lives completely and I will be eternally grateful and still make the effort to try and give back where possible.

TTFM x

Spoonhead88

Puzzcat wrote: »

Have you written a complaint letter asking for interest to be stopped??

Time_to_face_the_music wrote: »

and followed it up with the FOS?

I don't post much these days but always have a catch up with how things are going and try and offer a bit of advice if appropriate. There's a post on the main forum that people may want to try and encourage the poster to come and get the help and support that this thread always offers:

https://forums.moneysavingexpert.com/discussion/5437133

Hope all DMPers new and old are doing well and the light at the end of the tunnel gets brighter each day.

TTFTM x

Thank you so much you two, I had sent them a letter but nothing was done. After your comments, I sent them a complaint through Lloyds website. They phoned me up today to talk about it and have agreed to suspend interest and fees for the next six months and to refund me £127 which is near enough six months worth of my payments to them.

Could not be happier as i am six-month closer to clearing this one debt.

bsclp118

Not that it makes a big difference in the grand scheme if things, but barclaycard have refunded me £220 in interest and charges they took whilst I've been in token payments - Wooo! :-)

Time_to_face_the_music

Spoonhead88 wrote: »

Thank you so much you two, I had sent them a letter but nothing was done. After your comments, I sent them a complaint through Lloyds website. They phoned me up today to talk about it and have agreed to suspend interest and fees for the next six months and to refund me £127 which is near enough six months worth of my payments to them.

Could not be happier as i am six-month closer to clearing this one debt.

Great news Spoonhead88, well done on that result! :j:j:j

If anyone else is still being charged interest/fees, please complain and follow it up with the FOS if you don't get the result you want. If you need a complaint letter template, please ask and someone here will always help you.

TTFTM x

Time_to_face_the_music

bsclp118 wrote: »

Not that it makes a big difference in the grand scheme if things, but barclaycard have refunded me £220 in interest and charges they took whilst I've been in token payments - Wooo! :-)

Excellent news and it does make a difference, it's 0.86% of your starting debt so I think it's a great result and cause to celebrate :j:T:j

Every target and milestone counts

TTFTM x

bsclp118

Thanks TTFTM - when you say it like that it does sound worth the complaining :-)