DMP & Mutual Support Thread - Part 11

Sazzie23

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! :-)

It's a win and they all count

Sazzie23

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.

Yeah another win, happy Friday

[Deleted User]

Sazzie23 wrote: »

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

That's so true, Sazzie, as was the rest of your post:T. It really is so much easier on here(and sometimes the only way) to share our financial worries.

Here's to all the posters who generously give their advice, encouragement and time to any of us who are in need of it:beer:

LadyMorticia

Hello everyone.

As a newbie to this thread, I am very grateful for all of the help and support I have received. I have tried to read back but I have severe M.E. so my foggy brain can't handle alot of information.

My first DMP payment is due to be taken on 1st July and SC have advised me to stop my payments to my creditors for June as my budget has shown that I cannot afford to meet my minimum payments etc. Just making sure this is correct (I'm sure SC defo know what they're talking about!) as I don't want to put myself in a worse situation (if that's possible!)

January2015

LadyMorticia wrote: »

Hello everyone.

As a newbie to this thread, I am very grateful for all of the help and support I have received. I have tried to read back but I have severe M.E. so my foggy brain can't handle alot of information.

My first DMP payment is due to be taken on 1st July and SC have advised me to stop my payments to my creditors for June as my budget has shown that I cannot afford to meet my minimum payments etc. Just making sure this is correct (I'm sure SC defo know what they're talking about!) as I don't want to put myself in a worse situation (if that's possible!)

Yes - stop making payments to creditors immediately. If you can cope with phoning your creditors and advising your are setting up a DMP with SC then they will start a 30 day no contact, no interest period straight away. Give you peace of mind whilst the DMP is being set up. Even if you have already contacted your creditors and advised you are setting up a DMP with SC - then still stop making payments to them immediately. Don't panic, nothing bad will happen - honestly

January2015

Hello everyone

Not been about much lately. I've been very down in the dumps since I started in my new job at work. I really am not settling into it I spoke with HR and as it is seem as a suitable fit I will not be entitled to redundancy, so my choices are stick it out, or find a new job. I'm looking!

Just catching up with everyones progress, and seeing many new members joining us I can wholeheartedly recommend this thread as not only the friendliest and most non-judgemental group on this forum, but probably the whole internet, but also as the place to find fantastic support and advice. They really are a great bunch

Anyway - apart from the fantastic news of interest refund from BC, there is no real update on our DMP other than that we are now back to normal DMP payments (from last month), having told creditors they would get £1 per month for 3 months to allow us to rebuild an emergency fund.

No takers from our F&F offers, so the savings account is very healthy - healthier than it has ever been - heh ho....we will keep topping it up and in a year or so will attack with a fresh round of F&Fs.

Keep smiling everyone

KID77

Hi All

I did my DMP review today online but it told me I had to call which I did, brought baxk the nerves of last year.
They said as DFD over 10 years they recommended an IVA but I said I would prefer to stay as I am which wasn't an issue, think they just have to be seen as offering the option.
We upped our payment slightly and they are going to send out the offer to creditors so apparently I should recieve letters saying they accept or possibly reject, its made me a little anxious but trying not to think about it.

I will report back :-)

Have a good bank holiday weekend everyone xx

GibbsRule_No3

carbootcrazy wrote: »

That's so true, Sazzie, as was the rest of your post:T. It really is so much easier on here(and sometimes the only way) to share our financial worries.

Here's to all the posters who generously give their advice, encouragement and time to any of us who are in need of it:beer:

So agree about maybe being the only place to say you are on a DMP. Here is the rub. I finished my DMP two years ago, never told anyone except a union rep at work. So family and friends never knew. Now my finances are exceedingly healthy, due to my age and still working but taking works pensions as well that came with lump sums. My sister has been going on at me to get the lumps sum into the 123 Santander but as expected, due to the DMP and despite going into a branch with a "human being" going through the process (really all he did was what I could have done online) I was turned down. So what do I do when she asks how I got on, confess after all this time about the DMP seems the only way? Not sure how to fudge the issue and just say I was turned down as she will want to find out why and I know it is the DMP, despite it being paid off and the amount of money I now have in my good old Co-op savings account. It doesn't look like I can change the basic bank account. I also don't fancy trying to open other bank accounts because I'm sure they would turn me down as well. Very frustrating with all this money now rattling around and Yes! I have more than enough to fill the full amount of the 123 account with spare for a TSB one as well. Enough money to go in to meet the monthly needed and DDs for both. Good news is the DMP made this possible, bad news the DMP does live on for many years after closure. Main problem telling my sister, who would be good on those shows that do coupon collecting. Forgot to say I am quite happy with the Co-op savings account and if she had not kept going on, because I thought I would be turned down, I would not have bothered myself other than out of curiosity having this amount of money. Wonder what happens to a Lottery winner?

Time_to_face_the_music

GibbsRule_No3 wrote: »

So agree about maybe being the only place to say you are on a DMP. Here is the rub. I finished my DMP two years ago, never told anyone except a union rep at work. So family and friends never knew. Now my finances are exceedingly healthy, due to my age and still working but taking works pensions as well that came with lump sums. My sister has been going on at me to get the lumps sum into the 123 Santander but as expected, due to the DMP and despite going into a branch with a "human being" going through the process (really all he did was what I could have done online) I was turned down. So what do I do when she asks how I got on, confess after all this time about the DMP seems the only way? Not sure how to fudge the issue and just say I was turned down as she will want to find out why and I know it is the DMP, despite it being paid off and the amount of money I now have in my good old Co-op savings account. It doesn't look like I can change the basic bank account. I also don't fancy trying to open other bank accounts because I'm sure they would turn me down as well. Very frustrating with all this money now rattling around and Yes! I have more than enough to fill the full amount of the 123 account with spare for a TSB one as well. Enough money to go in to meet the monthly needed and DDs for both. Good news is the DMP made this possible, bad news the DMP does live on for many years after closure. Main problem telling my sister, who would be good on those shows that do coupon collecting.

Hi GibbsRule No3, long time no see!

We have same issue here with opening new accounts, lots of money we have saved to deposit plus two good salaries going in each month, yet we can't open one of the recommended current accounts. Personally I think the banks are mad because they don't want our money but hey ho that's the price we have for wanting to pay off our debt.

We had a standard Co-op current account rather than the basic one and like you, also had a savings account plus an ISA. We have filled a better rate ISA, have researched the best regular savings accounts and pay a monthly amount into those and moved the majority of our savings from the Co-op into a higher interest paying instant access account. We have kept the Co-op current savings open as they now offer monthly rewards and also use the old savings account to drip feed the regular savers. I know all of this is a faff but the rates are much better so it was worth the hassle of setting up standing orders etc.

Do you have to tell your sister anything? Can't you just smile and nod when she mentions the Santander 123 account and say you have sorted out your finances

TTFTM x

KID77

Hi Gibbs

My husband and I recently opened a TSB Classic Plus Acc for the interest, we opened one each no problem and had to call to open a joint one and after 30 mins on the phone, we got rejected. Not sure of the logic as we were able to open one each online....
We are only a year into our dmp so oir credit file is littered with defaults so being turned down doesn't surprise me, more just the inconsistency.
How does your credit file look? Are defaults still showing? If so how old are they? I would have thought after 2 years "clean" it should be much easier to obtain a new bank account.
I am pleased you are doing well financially :-)