DMP & Mutual Support Thread - Part 11

January2015

kezzb wrote: »

That's great thank you. If I do that this week I will get them mid Jan so can get my tax return in before deadline.

You can ask for the statements to go back six years if you really want to. All for the one off DP request fee

Strathmore100

January2015 wrote: »

I would phone them all and advise you are in financial difficulties and are seeking advice (mention you are in contact with Stepchange - that will shut them up - even if you have only done the online debt remedy bit up to this point, that counts as contact with SC :rotfl:). You may get asked for the SC reference number - just say you haven't got that yet as you are still going through the information with them (unless of course you do have the SC ref. and can give it to them).

I wouldn't even bother with a token payment at this point. I did make token payments when we started but I've learnt a lot since January 2015 when we started.

Thanks again. I will take your advice and phone them next week prior to cancelling the D/D. I'll then phone and sign up with SC afterwards to let them know that I won't be making payments until April.

MrsSammyB

Anyone got any experience of JD Williams they are happy to share? They are behaving most strangely... hubby and I have 4 accounts with them, one they've accepted a £1 payment for 6 months (I wanted a default not a £1 plan!) but the other 3 they've written and said they're passing on the debt. I excitedly looked at my credit report for the big D's.... nope, they've just simply closed the accounts with no defaults? Anyone else had experience of this? Should I still be chasing the default? Can they re-in state my account if no default?

Thank you, from a puzzled Mrs. B!

System

Hi Everybody, not been on the boards for a while. Everything is ticking along fine...if not slowly.

Been reading a lot about how interest rates may start to rise soon and was wondering if anybody has any experience of changing your mortgage whilst on a DMP? We are currently on a standard variable rate and if it starts to go up it will seriously impact on our finances. Is it likely that we would be able to change to a fixed rate or something whilst still on a DMP?
Also we would seriously like to downsize and move house. But again, not sure if it something we could do whilst on DMP?? Anybody got any experience of doing this? If we downsize we would reduce our mortgage, so in the long run it would be a good thing.

Thanks in advance for any help

January2015

ploppy57 wrote: »

Hi Everybody, not been on the boards for a while. Everything is ticking along fine...if not slowly.

Been reading a lot about how interest rates may start to rise soon and was wondering if anybody has any experience of changing your mortgage whilst on a DMP? We are currently on a standard variable rate and if it starts to go up it will seriously impact on our finances. Is it likely that we would be able to change to a fixed rate or something whilst still on a DMP?
Also we would seriously like to downsize and move house. But again, not sure if it something we could do whilst on DMP?? Anybody got any experience of doing this? If we downsize we would reduce our mortgage, so in the long run it would be a good thing.

Thanks in advance for any help

Hi Ploppy

I've absolutely no answers for you but...... just wanted to say it's lovely to see you

:hello::hello::hello::hello::hello:

System

January2015 wrote: »

Hi Ploppy

I've absolutely no answers for you but...... just wanted to say it's lovely to see you

:hello::hello::hello::hello::hello:

Thanks. Sorry I have been absent for so long and not been int touch. I will message you. x:)

[Deleted User]

Well, in a complete turn up for the book I've decided that I'm going to go self-managed. Thanks to the lovely posters on here:A who have generously shared their experiences and advice I feel now is the time. New year, new start;)



Being a control freak:o I'm surprised I've been able to hand the reins to SC for over 3 years but I feel now that I need a bit more room for manoeuvre especially with possible F&Fs. I just hope I've learned enough lessons not to blow the progress I've already made. Being over halfway through repaying a starting unsecured debt of almost £57000:eek: is such a reassuring feeling so I'm still a bit trepidatious (if such a word exists) about cutting the SC apron strings. My debt to them (the nice kind of debt;)) is immense:T



Anyway, although I've read the thread from the start a lot of the necessary information has been related bit by bit (it's a sort of diary after all) and by different people. It would help me enormously if some kind person could please briefly explain how the order of going self-managed needs to be done. And roughly how long the various stages take.



I haven't notified SC of my intentions yet and I'll be paying my last SC payment on 1st December (unless I can get things started before then). I intend to have a month 'off' with no payments under the new arrangement so I can get some savings together and thought this should be January? I'm not sure whether I need to bother with token payments whilst my self-managed plan is set up. I hope to keep repayments to creditors at pretty much the same level as they are now, maybe just a tad less, as it's important to me to get this millstone from around my neck as soon as I possibly can. I'm not getting any younger:( and want my twilight years to be a bit more relaxed and enjoyable than they are now when money is so tight.


Massive thanks to everyone for all past help and what I hope is to come:beer:

niunian

Hello
I'm going to send to Danske Bank Data Protection Request, because I need 5 years stetments.
I want to send them £10, but I don't have cheque book so I want to send postal order and here is a question what should I write on it? Does "Danske Bank" as a recipient is ok?

Puzzcat

carbootcrazy wrote: »

Anyway, although I've read the thread from the start a lot of the necessary information has been related bit by bit (it's a sort of diary after all) and by different people. It would help me enormously if some kind person could please briefly explain how the order of going self-managed needs to be done. And roughly how long the various stages take.

:beer:

Hi cbc,

If you can bear to read my ramblings in my diary I did document as I went along.. about page..49 onwards..I used NEDCAB and adapted letters from that. Also nedcab divide up payments differently to SC so I got SC to give me the formula so I could work out future changing payments.

From what I can recall I rang SC and they sent me a list of my creditors with current balances, they can't give you account details you need to go direct to creditors for the bank details so you can pay them individually... I did a last payment to SC then cancelled that plan and the dd to them, I wrote to each creditor and requested account numbers/sort codes etc.. some didn't even bother responding so I had to ring them.... My payments stayed the same so I didn't get any grief at all... don't expect they will even notice if you miss a month.. From my last SC payment I was then ready with my standing orders (not direct debits) to commence payment without a break so all done in a month..

Hope that helps..!

Love Puzz. x

January2015

carbootcrazy wrote: »

Well, in a complete turn up for the book I've decided that I'm going to go self-managed. Thanks to the lovely posters on here:A who have generously shared their experiences and advice I feel now is the time. New year, new start;)

Another vote for the NEDCAB route to self managed. We don't use it now, but it got us on the road to self managed. Unlike Puzz, we did drop from the DMP payments to each creditor that had been agreed with SC. We dropped straight to £1 token payments. We had no trouble at all with this. We just used the NEDCAB formula and we adjusted the amount we had available for DMP repayments down quite drastically. The NEDCAB template letters allow for an option to explain this, and in our case the explanation was

"[FONT=&quot]Unfortunately, compared to my previous Debt Management Plan arrangement, my offer of payment has reduced due to the pro-rata payment offer calculation is different to my previous DMP provider and a general rise in living / travel costs."[/FONT]

[FONT=&quot]The NEDCAB template allows for different explanations for each debt (if required). For example, payment to our largest debt increased, and the explanation for that was[/FONT][FONT=&quot]

[/FONT]

[FONT=&quot]"[/FONT][FONT=&quot]I am pleased to inform you that compared to my previous Debt Management Plan arrangement, my offer of payment has increased due to the pro-rata payment offer calculation used by NEDCAB being different to my previous DMP provider.[/FONT] [FONT=&quot]"
[/FONT]

[FONT=&quot]I think the hardest part was chasing down the sort code/account numbers to make payments for each creditor as they had moved from original creditors and although I'd had letters, I wanted current confirmation of where to pay to ensure it was still correct.

Overall it all sorted itself out very quickly. If I were you I would stop SC now and stash the December payment away towards those F&Fs. Just start writing to creditors to notify you are moving to self managed and requesting the payment information.

Good luck with it all :beer:

[FONT=&quot]Ed[FONT=&quot]it - should have said, our NED[FONT=&quot]CAB letters s[FONT=&quot]howed what the proposed monthly DMP payments would be to each creditor, but [FONT=&quot]we adapted the letters to identify that [FONT=&quot]we
[/FONT][/FONT][/FONT][/FONT][/FONT][/FONT][/FONT]

[FONT=&quot][FONT=&quot][FONT=&quot][FONT=&quot][FONT=&quot][FONT=&quot][FONT=&quot] [FONT=&quot]"[/FONT][/FONT][/FONT][/FONT][/FONT][/FONT][/FONT][/FONT][FONT=&quot][FONT=&quot][FONT=&quot][FONT=&quot][FONT=&quot][FONT=&quot][FONT=&quot][FONT=&quot][FONT=&quot]intend to make token payments of £1.00 per month for [FONT=&quot]the period xxx-2016 throu[FONT=&quot]gh to xxx-2016[/FONT][/FONT] [FONT=&quot]after which period mont[FONT=&quot]hly payments of £xx[FONT=&quot]x.xx will be made each month, as identified by the enclosed financial statement ([FONT=&quot]household income and expenditure)[FONT=&quot].
[/FONT][/FONT][/FONT][/FONT][/FONT][/FONT][/FONT][/FONT][/FONT][/FONT][/FONT][/FONT][/FONT][/FONT]

[FONT=&quot]NEDCAB [FONT=&quot]calculates and produces the income and expenditure statement for you as well.[/FONT][/FONT]

[FONT=&quot] [/FONT]