DMP & Mutual Support Thread - Part 11

timetosayenough

Thank you Fermi. I see what you all mean by getting horrid post on a Saturday:( Its been so quiet not hearing from anyone I guess our postie is going to be busy now. The default letter is for one credit card so I expect I will get more from them regarding other credit card, personal loan and overdraft. This is certainly a learning curve, thanks once again, really appreciate it.

[Deleted User]

fermi wrote: »

When the default drops off a credit report ALL the data and history of the account is removed as well.

As far as anyone checking your credit report is concerned, from then onwards they will not see any sign that the account ever existed.

Obviously the creditor concerned may still keep a record, but no-one else does.

Thanks very much, fermi:T.

I was hoping it meant something like that but it seemed too good to be true somehow. I imagined I'd have this albatross round my neck for many, many years to come:eek:.

fermi

carbootcrazy wrote: »

Thanks very much, fermi:T.

I was hoping it meant something like that but it seemed too good to be true somehow. I imagined I'd have this albatross round my neck for many, many years to come:eek:.

Yes, it is a relief if the have actually been defaulted. Odd as that may sound.

See: https://forums.moneysavingexpert.com/discussion/4757020

Sazzie23

timetosayenough wrote: »

Thank you Fermi. I see what you all mean by getting horrid post on a Saturday:( Its been so quiet not hearing from anyone I guess our postie is going to be busy now. The default letter is for one credit card so I expect I will get more from them regarding other credit card, personal loan and overdraft. This is certainly a learning curve, thanks once again, really appreciate it.

No idea why, but they do seem to always turn up on a Saturday. You may or may not get more defaults, even within the same creditor, they don't always follow the same guidelines.

Also getting the default notice doesn't always mean they actually default you, BC are well known for sending the notice but not actually doing the default.

Finally, it makes me smile when I ring a creditor for something and they say....you might get a default on your file .... to which i reply, my credit file is already in the pits, trust me, the threat of another default does not cause me any extra problems and does not change my financial situation.

Kate_fixing_it

Hi all,

It's been a VERY long time since I last posted. I'll put my hands up and say I had to walk away from a while. Adding up debts, payments, DFDs, NSDs etc became the only "safe" thing in my life. So so much was going on and in January I suffered a breakdown.

It's now September and I'm finally feeling good again. Throughout the year I've continued paying my DMP to stepchange but I've had to force myself to let the monthly payment go out and the DMP to roll along without my input. Roll along it has! I am right at this second around the £7,500 mark. It's been a long and hard road but it's getting there.

Now for the unbelievable, unexpected and utterly wonderful news that this week the remaining debt total will plummet to £5,000! I cheekily offered 40% of a debt as F&F fully expecting to be told where to go but... They've accepted!!! It's my biggest debt, a third of the total currently owed and the only one still charging interest (albeit at a teeny tiny amount). I'm absolutely thrilled. This will cut 2 years off my DFD!

Being so ill was no picnic but I am now stronger and more alive than ever before. I have missed posting here and hope you can all forgive me for disappearing, I feel a bit like I deserted you all and I'm an ungrateful mare! But you have been in my thoughts and your past support had helped so much as I've recovered.

Kate x

stormpassing

Hello everyone,

Well it's been a bit of a surreal day. Celebrating our 13th wedding anniversary but also receive notification from StepChange that the DMP now up and running with details of the payments they will make to creditors on our behalf. Moved lots of essential DD's over to new basic bank account. Now waiting and hoping that wages and CB hit new basic account instead of old account with OD. Scary times at the min but grateful to each and everyone on here who posts advice, lived experience and success stories. Would have felt a whole lot scarier without you all.

Happy Monday

Dandytf

I cheekily offered 40% of a debt as F&F

i'm only 1/3rd through dmp

Which creditor accepted the F&F offer

This something I might consider in next year.

danielmarch69

hi all.in the process of starting a dmp.first day today they said they would now contact all creditors with details....fingers xd for long journey ahead.

Growurown

Kate_fixing_it wrote: »

Hi all,

It's been a VERY long time since I last posted. I'll put my hands up and say I had to walk away from a while. Adding up debts, payments, DFDs, NSDs etc became the only "safe" thing in my life. So so much was going on and in January I suffered a breakdown.

It's now September and I'm finally feeling good again. Throughout the year I've continued paying my DMP to stepchange but I've had to force myself to let the monthly payment go out and the DMP to roll along without my input. Roll along it has! I am right at this second around the £7,500 mark. It's been a long and hard road but it's getting there.

Now for the unbelievable, unexpected and utterly wonderful news that this week the remaining debt total will plummet to £5,000! I cheekily offered 40% of a debt as F&F fully expecting to be told where to go but... They've accepted!!! It's my biggest debt, a third of the total currently owed and the only one still charging interest (albeit at a teeny tiny amount). I'm absolutely thrilled. This will cut 2 years off my DFD!

Being so ill was no picnic but I am now stronger and more alive than ever before. I have missed posting here and hope you can all forgive me for disappearing, I feel a bit like I deserted you all and I'm an ungrateful mare! But you have been in my thoughts and your past support had helped so much as I've recovered.

Kate x

Hi Kate, so sorry to hear you have been poorly, but very glad to hear you are better. A DMP can be hugely stressful time of life and you are right that the support here makes an immense difference. Great news too on your F&F settlement. Well done you! Let's hope the worst is over now and you are well on the way to being debt free two years sooner than you thought!:j:j

Growurown

stormpassing wrote: »

Hello everyone,

Well it's been a bit of a surreal day. Celebrating our 13th wedding anniversary but also receive notification from StepChange that the DMP now up and running with details of the payments they will make to creditors on our behalf. Moved lots of essential DD's over to new basic bank account. Now waiting and hoping that wages and CB hit new basic account instead of old account with OD. Scary times at the min but grateful to each and everyone on here who posts advice, lived experience and success stories. Would have felt a whole lot scarier without you all.

Happy Monday

Congrats on your wedding anniversary.:beer:

DMP wise a bit of an anxious time for you at the moment, waiting for everything to settle down, but it will and everything will be fine. Some great posters on here to help you out if you get stuck, any questions just fire away!

danielmarch69 wrote: »

hi all.in the process of starting a dmp.first day today they said they would now contact all creditors with details....fingers xd for long journey ahead.

Hi Daniel, welcome to the thread. Who are you with for your DMP? I hope you haven't gone to a provider who charges. Stick around for some great advice and support and let us know how you get on.