DMP & Mutual Support Thread - Part 11

scared1

Hi Pickle

Over the years I've increased and decreased payments. I've also had to make several reduced payments due to emergencies and life things.

My creditors have always accepted the changes. Sometimes they get upset with a reduced payment but a phone call generally smooths this over saying I will be making normal payments from the next month.

Hope this helps

Nicky

Pickle29

Hi scared, thanks for this, I expect I will need to ring them this week, I just don't know if it will be a temporary glitch or a long term reduction in our payments at this stage! I'm worried because last time I spoke to creditors at the beginning of our DMP some weren't very nice! I can't bury my head in the sand - I will need to ring sc this week and see what they say! I'm already worried bout hubby getting another job and getting away from where he is currently - most agencies only have temp to perm so looks like I need to speak to sc sooner rather than later X

cmcavon

I have been stressing for the past 6 months about private rental credit checks, reading over this thread I'm less worried now. We rent from a friend of a friend at the min and rent out our mortgaged house. The landlord has been hinting that he may want to sell. I've been panicking that we would fail a credit check through an agency. We have a long-term DMP, both work and meet all our payments on time, no IVA, bankruptcy or CCJ. Fingers crossed we'd be OK then!

fd1972uk

Hi All,

Hope someone can help or direct me if this is not the place to ask.

I'm on the verge of being made redundant in the next couple of weeks.

I've called Stepchange and someone will call me tomorrow for a 2nd phase discussion on finances.

I told them the situation, but at this point I'm not aware of any particulars.

Got around £30k of unsecured debt, we have £2.5k per month coming into the house at the moment, but my wage is the higher meaning £1.6k of that will disappear. I will get around after tax around £13k in terms of redundancy money (including notice period which I am assuming at this point will be paid in lieu).

Obviously this will be all I have with the exception of applying for child/working tax credits (wife will qualify with her low income) and JSA or such that will help in the meantime. I will obviously look for another job.

Thing is does anyone know of how likely these things are accepted if I don't have a guaranteed income outwith my redundancy pay?

I'm only really worried about making sure we get by and obviously not losing the house.

I think IVA's are obviously dangerous in terms of losing, but was thinking DMP will protect my home at least as long as I can make payments of some sort to these creditors.

Anyone able to advise?

Sorry if I'm not being as informative as I probably should be, but my head is a bit all over the place.


TIA


FD

KID77

Hi FD

I am no expert but I wouldn't put any of your redundancy money towards debts as you need that as a back up whilst you find a new job.

Your payments to SC will have to reduce to even £1 for now and you dont have to even tell them avout your redundancy payment.

Hopefully within a few months you will have found a new job and then you can up your payments again or even try and do some f&f settlements with any redundancy money you have left....

I haven't had to reduce payments yet but i have read on here that many people have and the fact you are being made redundant is a bloody good reason so the creditors cannot have an issue with that. I know you are worried about your home and I feel the same but I think the worst that could happen is a charging order and highly unlikely they can force a sale, just security for them.

Hope you find a new job soon xx

LadyMorticia

Hey everyone. I hope you're having a good week.

Builders have been here alot of the day. They had to put some sort of preperation on the walls as otherwise the plaster they were due to put on would just slide off. The council were pushing for them to just plaster it without the prep on, but the contractors said that that wasn't do-able and it would just come off and they wanted to do it properly.

Then the builders were back here today to plaster the walls and they had to put some sort of leveling compound on the bathroom floor. The thing is, they finished doing it at about 2pm and said that it'll take 2-4 hours to dry but we can't walk on it until it has. Well, it's 9pm now and it's still not dry. How are we supposed to go to the loo? It's the only one we have! Sigh.

Then tomorrow the floor layer is coming to lay the floor and the plumber is coming to fit the bath and sink in, and the electrician is due at some point. Phew. So much going on and so much disruption. I'll be glad when it's finished so I can have a nice bath and breathe a sigh of relief that it's all over!

Coinmachine

Coinmachine wrote: »

I have just been sorting through old statements and was under the impression that Halifax were the only creditor yet to default me, I was under this impression because when I check on Noddle it shows my Halifax account as 'up to date' despite reduced payments etc whereas all the others are listed as default. However I have discovered a Halifax default dated Dec 14. Would it be the case that they have not reported the default to the credit agencies? Should they have done so or is it as their discretion?

quick update on the above and always worth double checking these things. Got an apology from Halifax, they will register and backdate the default and have sent me £75. Halifax previously sent me £75 for failing to respond to earlier correspondence. I have also had £300 from Nationwide for failing to update the credit agencies when a joint account moved to sole account, they paid me £250 and then a further £50 when it took longer to resolve than they had intended. Who knew you could make money out of this?

alistar

Hi there,

Complete newbie here! I've recently started my DMP journey and I would like to say thank you for this thread. It really helped me realise what a state things were in and I can't tell you how relieved I feel knowing things are on the right track. All my debtors so far have been fantastic but I am still forever waiting for the barrage of phone calls to start up again.

I've started checking this thread daily and will probably do so moving forward, its invaluable :-)

KID77

Welcome Alistar, it is a great thread :-)

Well done for taking steps to sort out your debt xx

LadyMorticia

Welcome Alistar. This is a really supportive thread.