DMP & Mutual Support Thread - Part 11

kb_soma

First off, hi everyone, it's been ages since I've stopped by. I need to catch up on everyone's journeys!

I called a company when I had my lbm, the fee was shocking and I nearly went with them until a colleague advised me that there are free charity companies that will help you.

I was very desperate, the bank turned me down for a consolidation loan, and I probably would have gone with them had it not been for that bit of advice. The colleague also pointed me in the direction of these forums - for which I am ever grateful!

The company hounded me with phonecalls for months afterwards, to the point where I had to block their number. They're just as bad as the loan companies!

FuzzyDF

Good Afternoon Lovely DMP-ers!

I haven't written anything for a while as my DMP with SC has been going OK even though I had to decrease my monthly payments due to work circumstances (reduced hours).

I am due my annual budget review and I have just logged into SC to do it online but there is a message saying that I have to phone them to see if this is still the right option. Last time I did the review they were pushing for me to enter into an IVA which I expressed that I did not want to do.

I am able to offer £50 extra a month now taking my payment to just over £200 a month.

Am I worrying over nothing? I tend to overthink things.

Hope you are all having a lovely Bank Holiday.

KID77

I posted two days ago saying more or less the same thing, they were saying IVA would be best for me but I said no and increased my payments by £12 per month. Just waiting to hear back from creditors on whether they accept or reject my offer.

FuzzyDF

KID77 wrote: »

I posted two days ago saying more or less the same thing, they were saying IVA would be best for me but I said no and increased my payments by £12 per month. Just waiting to hear back from creditors on whether they accept or reject my offer.

Were they Ok with the increase?

I'm dreading ringing them tomorrow.

KID77

Hi Challenge,
I can see that others have responded but just to answer your question's, we are with Stepchange and have been since July last year.
We have 9 accounts split over 4 creditors although 4 accounts are now with DCAs.
All have defaulted and all stopped interest from the get go. As stupid as it sounds, the less you pay them the more chance you have of interest being stopped. That wasn't our intention to start with, just something I have learned. So inflate your figures for all the things you are allowed with SC i.e. dry cleaning and use any extra money you save to set aside for hopefully a reduced settlement in the future.
xx

KID77

SC were ok with it, they wanted to make sure I had covered everything so there was no pressure from them to increase anymore.
They were perfectly nice on the phone so cant conplain but I still dont enjoy ringing them either xx

FuzzyDF

KID77 wrote: »

SC were ok with it, they wanted to make sure I had covered everything so there was no pressure from them to increase anymore.
They were perfectly nice on the phone so cant conplain but I still dont enjoy ringing them either xx

Thank you for your reassurance. I just hate being grilled about money. It's hard enough as it is. I'm hoping they will be fine with an increase. Not much, but it will make a small difference.

Thank you once again

KID77

I totally get it as feel the same.

Does your DMP have more than 10 years to run? That seems to be the reason they want you to call so they can recommend an IVA. It just seems too formal for me and because we are hopeful of settlements in 5-6 years time, we dont plan on our dmp running any longer than that but that plan may not come off, we can only hope xx

FuzzyDF

KID77 wrote: »

I totally get it as feel the same.

Does your DMP have more than 10 years to run? That seems to be the reason they want you to call so they can recommend an IVA. It just seems too formal for me and because we are hopeful of settlements in 5-6 years time, we dont plan on our dmp running any longer than that but that plan may not come off, we can only hope xx

I think it has another 6 years to run (unless I get a pay rise and can give a bit more). I owe about £19K having paid off just over £7K in two years. I too just find the IVA too formal. The DMP is perfect for me as it is.

FunBrum

FuzzyDF wrote: »

Thank you for your reassurance. I just hate being grilled about money. It's hard enough as it is. I'm hoping they will be fine with an increase. Not much, but it will make a small difference.

Thank you once again

Fuzzy.....You shouldn't worry at all. StepChange were lovely to me when I phoned them and couldn't have been more helpful. They also inflated my outgoings. Try not to worry x