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DMP & Mutual Support Thread - Part 11
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Hmmm my mbna account and Natwest has been blocked. All the other creditors are still letting me log in and view the account balance online.
Is there are a reason why some creditors block account access and others don't? It would be really useful to get upto date information on the balances...
Hi,
Within 6 months of starting my dmp all my creditors had blocked online access to accounts but they do send paper statements every month.
PuzzChristmas 2020 £109
I love my dmp started in Nov 13 with SC. Self Managed 2016 57% done
£60062/25384.84 - 13222.60k UE
MY DIARY http://forums.moneysavingexpert.com/showthread.php?t=47686850 -
LadyMorticia wrote: »Update from me.
Just had a letter from Vanquis. They've accepted SCs offer and have frozen all interest and charges. This is my first letter of acceptance and it's amazing how it feels!
Well done Lady M ! And good luck with the builders v children...
Puzz. xChristmas 2020 £109
I love my dmp started in Nov 13 with SC. Self Managed 2016 57% done
£60062/25384.84 - 13222.60k UE
MY DIARY http://forums.moneysavingexpert.com/showthread.php?t=47686850 -
Bouncybubbles wrote: »Quick update I have just received an email from Extra energy stating they have now updated my name details and if I would like some financial advise to contact their team to work out a payment plan to suit me and them and a phone number to call with any issues. Following on from this do I still need to call them? I did say in the first email that I was on a DMP which they don't appear to have acknowledged in this reply?
I think if they haven't acknowledged your starting a dmp in the email then you either need to email again, or better still give them a ring. If you ring them they can update the information onto your account as you speak to them, as previously said emails/letters can take sometime to get to the right desk..! Just tell them you are on/starting a dmp with SC and give them the reference number and don't be drawn into any setting up a payment plan chat..
Puzz. xChristmas 2020 £109
I love my dmp started in Nov 13 with SC. Self Managed 2016 57% done
£60062/25384.84 - 13222.60k UE
MY DIARY http://forums.moneysavingexpert.com/showthread.php?t=47686850 -
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Hmmm my mbna account and Natwest has been blocked. All the other creditors are still letting me log in and view the account balance online.
Is there are a reason why some creditors block account access and others don't? It would be really useful to get upto date information on the balances...
Couldn't give a reason, my MBNA stayed live til they sold it to DCA, others became inactive over time. You can usually get a balance by phoning them, but I just use noddle which gets updated about every other month.
SazDebt -it's a fight that I'm winning, dealing with debt one day at a time.
Estimated DFD August 2018 - 2031 - now 2027 :T
Guide dog Tess, missing Scotland 2 years
DMP support no438.0 -
Bouncybubbles wrote: »Quick update I have just received an email from Extra energy stating they have now updated my name details and if I would like some financial advise to contact their team to work out a payment plan to suit me and them and a phone number to call with any issues. Following on from this do I still need to call them? I did say in the first email that I was on a DMP which they don't appear to have acknowledged in this reply?
I think saying you are on a DMP and them understanding what a DMP means may be different things. Probably best to ring and work out what they want, though I'd suggest speak to SC first.
SazDebt -it's a fight that I'm winning, dealing with debt one day at a time.
Estimated DFD August 2018 - 2031 - now 2027 :T
Guide dog Tess, missing Scotland 2 years
DMP support no438.0 -
I got an email yesterday saying I had a new secure message from them, so this is potentially nothing with the the DMP. Need to call them today!
Thanks for the replies though!Couldn't give a reason, my MBNA stayed live til they sold it to DCA, others became inactive over time. You can usually get a balance by phoning them, but I just use noddle which gets updated about every otherStarted DMP with stepchange - Feb 2016 Self Managed - October 2016
Starting Debt: £25,555 Current Debt: £21,529 (Total debt re-payed: 15.75 %)0 -
Hi everyone,
Hoping you can help. We've got ourselves stupidly in debt and it looks like the only option now is a DMP, as our income has dropped- so I have been talking to Step Change and we are on the cusp of getting it all going....We've not yet defaulted on anything, but in reality have been getting ourselves worse in debt to make the payments which obviously can't continue.
The debts are all in my name - which means I presume that only my credit rating will be affected - We never want any more credit, but we do currently have a mortgage, and will need to remortgage in the future so I am worried about the long term effect on credit rating. Can anyone who has been through this give me any reassurance as to the ultimate consequences? If I have a mark on my file, but my husband doesn't
I am also a bit panicked by the wording in the DMP doc from Stepchange which says that creditors may not stop charges - does this happen very often? We have a loan, and 2 CC, both on 0% at the moment, one with MBNA, one with Virgin....how likely is it that they will start charging rather than stop?
Feeling pretty low and stressed about it all - but also just so want to get this sorted. Thanks for your help.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
Hi everyone,
Hoping you can help. We've got ourselves stupidly in debt and it looks like the only option now is a DMP, as our income has dropped- so I have been talking to Step Change and we are on the cusp of getting it all going....We've not yet defaulted on anything, but in reality have been getting ourselves worse in debt to make the payments which obviously can't continue.
The debts are all in my name - which means I presume that only my credit rating will be affected - We never want any more credit, but we do currently have a mortgage, and will need to remortgage in the future so I am worried about the long term effect on credit rating. Can anyone who has been through this give me any reassurance as to the ultimate consequences? If I have a mark on my file, but my husband doesn't
I am also a bit panicked by the wording in the DMP doc from Stepchange which says that creditors may not stop charges - does this happen very often? We have a loan, and 2 CC, both on 0% at the moment, one with MBNA, one with Virgin....how likely is it that they will start charging rather than stop?
Feeling pretty low and stressed about it all - but also just so want to get this sorted. Thanks for your help.
Hi,
As you presumably have a joint mortgage with your husband then you will be financially connected so his credit rating may be affected as well. Unfortunately I can't answer what effect this will have on a new mortgage, I believe you should be able to get one with a new provider but probably won't get the best deals around. Personally I would just switch when the time comes to another deal by your current mortgage Company that's what I am proposing to do and hope it will be a smooth transition..!!
As soon as you default your cc/loan rates will revert to the normal rates and 0% offers will no longer exist. On the upside the majority of creditors do freeze interest and for any that don't you will have to write and complain to. The Creditor does not have to freeze interest but the majority do.. BC are notorious for charging albeit at a lower rate.
Before you send off paperwork to sc, please find time to read at least this thread and if possible some of the previous one's. Knowledge is power and all the information you need will be on here.
Top Tip.. Don't rush into starting and do token payments to save up an emergency fund...
PuzzChristmas 2020 £109
I love my dmp started in Nov 13 with SC. Self Managed 2016 57% done
£60062/25384.84 - 13222.60k UE
MY DIARY http://forums.moneysavingexpert.com/showthread.php?t=47686850 -
Good news this week- I have just received a letter from Nationwide in response to my complaint about the default date on my credit card. They issued a default on my current account as soon as I started the DMP in Aug 2014 but not the credit card until June 2015 when they finally issued a default- although this didn't go onto my credit file until March 2016!
They have agreed that the default should have been earlier and are going to back date it to Aug 2014 and offered £50 compensation as well!
I have also finally received a default notice from Next, they had asked me to get Stepchange to stop making payments so the account would go into arrears- Stepchange wouldn't do this but as my DMP payment was £24 less then the minimum payment they wanted when they started adding interest again its meant they can issue the default- just have to wait for them to refund the interest that they promised they would once this had all happened.
Still waiting for a reply from Shop Direct/Very as have also complained that they haven't issued a default yet- even though each statement says I am in arrears with the amount of interest I would have paid had it not been frozen- this is my last creditor that I haven't had a default from
yet so fingers crossed they agree.
I have now paid a 1/3 of my debt off with 3 1/2 years to go, just wish I had found out about Stepchange earlier and not struggled for the year beforehand selling everything I could to make minimum payments!!LBM June 2014
Self managed since July 2016,
Nationwide OD DefaultNationwide CC Default
Next Default
Very Default :j
Total Debt Aug 2014 £20,852 :eek: April 2017 £11,785 Jan 2020 £5,932 :T0
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