DMP & Mutual Support Thread - Part 11

FuzzyDF

FunBrum wrote: »

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

Much appreciated FunBrum. I wanted to do it online without speaking to anyone but it just gives me the option to call them. I tend to panic when its anything to do with money.

SC have always been lovely to me, in fact I owe them a lot. They are helping me to get out of a sticky situation hence the DMP which was literally a lifesaver

kb_soma

Agreeing with how great sc are - they were always great with my payments too. Remember if you don't smoke, have regular haircuts and go to the gym, add these to your budget, this can help towards sundries. X

LadyMorticia

Hey lovelies.

I had a message from Capital One today saying that they haven't received an incomings and expenditure form from SC and that until they do my account will be treated as normal.

I'm not sure what to tell them or whether to get in touch with SC. My DMP starts on 1st July and I was only notified that it had been set up early last week. I haven't even received the main of the SC paperwork yet!

Also, does anyone know what happens with BNPL on catalogues? (I did post a couple of days ago but I think it got lost on the previous page.) Littlewoods take off the BNPL and any interest that would accrue from your total amount to spend i.e. if I have £2500 available to spend and then buy something on BNPL for £250 with £220 interest then that total of £470 would be taken off of the £2500 but if I paid it off before the BNPL period ends then the £220 interest that had been taken into account in my available to spend would be 'credited' back, if that makes sense? So would I still get whacked with interest when on a DMP when these BNPL period ends or not because the interest would have already been taken off of my available to spend? Does any of that make sense?! I even confuse myself alot of the time!

January2015

LadyMorticia wrote: »

Hey lovelies.

I had a message from Capital One today saying that they haven't received an incomings and expenditure form from SC and that until they do my account will be treated as normal.

I'm not sure what to tell them or whether to get in touch with SC. My DMP starts on 1st July and I was only notified that it had been set up early last week. I haven't even received the main of the SC paperwork yet!

Also, does anyone know what happens with BNPL on catalogues? (I did post a couple of days ago but I think it got lost on the previous page.) Littlewoods take off the BNPL and any interest that would accrue from your total amount to spend i.e. if I have £2500 available to spend and then buy something on BNPL for £250 with £220 interest then that total of £470 would be taken off of the £2500 but if I paid it off before the BNPL period ends then the £220 interest that had been taken into account in my available to spend would be 'credited' back, if that makes sense? So would I still get whacked with interest when on a DMP when these BNPL period ends or not because the interest would have already been taken off of my available to spend? Does any of that make sense?! I even confuse myself alot of the time!

If you don't manage to clear the catalogue debt before the BNPL agreement interest free period ends then the catalogue company will add the interest and whack up your debt.

I had this very scenario with VERY when I started my DMP with SC last year. I owed VERY £1,250 on BNPL:o. SC were paying them £21.65 each month. The BNPL period was due to end 8 months after the start of my DMP. Clearly 8 x £21.65 was not going to clear £1,250. I checked with VERY and they confirmed via email that if the amount was not cleared by the end of the BNPL period they would the interest as per the agreement at 29.9% (backdated to date of original purchase :eek:). I wasn't having that. I ebayed whatever I could, did extra hours at work and made extra payments to VERY without saying anything to SC. I just logged into my online VERY account and made payments whenever I could until the account was cleared. I also logged into my SC online account and updated the reducing balance for VERY each month. SC never said anything to me. The BNPL was paid off before interest was added and that was my first debt on my DMP cleared.

Just to be clear my VERY balance was £1,250 and interest would have been added to that AFTER the BNPL period. That's how VERY do it.

Good luck

FunBrum

FuzzyDF wrote: »

Much appreciated FunBrum. I wanted to do it online without speaking to anyone but it just gives me the option to call them. I tend to panic when its anything to do with money.

SC have always been lovely to me, in fact I owe them a lot. They are helping me to get out of a sticky situation hence the DMP which was literally a lifesaver

I too hate speaking to people about my debt but try to think....'you know what,'theyre not going to kill me or send me to prison, so why am I so scared?!' Feel the fear and do it anyway! As the book says. You will feel so much better!
Besides, you have the support of this thread as well

racht

LadyMorticia wrote: »

Hey lovelies.

I had a message from Capital One today saying that they haven't received an incomings and expenditure form from SC and that until they do my account will be treated as normal.

I'm not sure what to tell them or whether to get in touch with SC. My DMP starts on 1st July and I was only notified that it had been set up early last week. I haven't even received the main of the SC paperwork yet!

Also, does anyone know what happens with BNPL on catalogues? (I did post a couple of days ago but I think it got lost on the previous page.) Littlewoods take off the BNPL and any interest that would accrue from your total amount to spend i.e. if I have £2500 available to spend and then buy something on BNPL for £250 with £220 interest then that total of £470 would be taken off of the £2500 but if I paid it off before the BNPL period ends then the £220 interest that had been taken into account in my available to spend would be 'credited' back, if that makes sense? So would I still get whacked with interest when on a DMP when these BNPL period ends or not because the interest would have already been taken off of my available to spend? Does any of that make sense?! I even confuse myself alot of the time!

When I had items on BNPL with Very I had planned to pay it all off before the interest was going to be added but never managed it. When the BNPL interest was due to be added I was very surprised that they only added interest for the months before I started my DMP- so only had a couple of months interest go on, this happened to both lots of BNPL I had with them!!
I did have to send a complaint at the start of the DMP to get them to freeze interest in the first place- not sure if this made any difference or not?

lumpyspaceprincess

Just a quickie, as I updated some info, and can change my signature. I just realised when tomorrows payment goes out, that’s me paid 52% of my DMP. I’ve paid more than I’ve got left to pay. That’s incredible, feels so good! Roll on 18 months from now lol

[Deleted User]

lumpyspaceprincess wrote: »

Just a quickie, as I updated some info, and can change my signature. I just realised when tomorrows payment goes out, that’s me paid 52% of my DMP. I’ve paid more than I’ve got left to pay. That’s incredible, feels so good! Roll on 18 months from now lol

Well done on reaching that landmark:T. You should be really proud of how far you've come:beer:

Can't wait for my own halfway point. Not too long to go now:j

spiffyiffy

Hi all,

Good to see load of new faces; I myself hardly post on here.

I have a quick question to those that are self managed if you will:

On the NedCab site do you have to fill in everything on their steps 1 and 2 part? It seems like a lot of work to go through all you priority and non-priority debts etc.

Also I am already on a DMP with Step Change; Should I go through the 'Starting a new DMP section on the NEDCAB site?

Thanks

LadyMorticia

Hey lovelies.

Me again (sorry!) Having let my creditors know about the DMP, they're asking for the expenditure form from SC. Is this something SC send them or something I should? SC say that they'll let all your creditors know, but I'm a worrier!