DMP & Mutual Support Thread - Part 11

heavenlyharry01

With huge thanks to a couple of members I've gained the confidence, (after only one month into our StepChange plan) - to leave StepChange.


In hindsight I completely panicked and rushed into a DMP, when I should have built up some savings.


I spoke to them on the phone, where I felt a little pressured to stay, which nearly worked. But with reassurance from two members of this board, I think leaving will help my situation in the long run.


Get ready for multiple worried posts!!

blisteringblue

Listen to sourcrates, it's all a process, and an easy process.

It will be quite a while from first non payment before any legal action is taken. Even then you will get one final chance to sort it out with them. There will be a final letter called something like "Letter Before Action" this is the point it gets serious and should not be ignored.

https://www.citizensadvice.org.uk/debt-and-money/action-your-creditor-can-take/creditor-takes-you-to-court-for-debt/

That explains the process in an easy to follow guide.

However if you are trying to force a default 6 months of non payment is virtually guaranteed not to end up in court. But even then you have plenty of time to do something about it before it does.

Currently forcing my final defaults myself using this very process (even though they were interest free already) and to be honest they are not batting an eyelid. One even sold it onto Arrow Global instantly so I know I can pay that off for peanuts now.

DMPs are not scary, they are not to be taken lightly, but once you go down that route just follow the process and make them work for you.

[Deleted User]

heavenlyharry01 wrote: »

I spoke to them on the phone, where I felt a little pressured to stay, which nearly worked....

I'm going to phone SC to cancel my DMP on Monday. I've already put it off for about a week:o. I envy your determination and confidence to get on with it so quickly:T. Well done and good luck:beer:


I really do want to go self-managed now (inspired as you have been by the lovely posters on here:A) but after over 3 and a half years of SC holding my hand I'm still a bit nervous about going solo. I'm just a tad worried that if during the phone conversation I feel pressured to stay I might wimp out and say 'oh, alright then':eek:.

sourcrates

carbootcrazy wrote: »

I'm going to phone SC to cancel my DMP on Monday. I've already put it off for about a week:o. I envy your determination and confidence to get on with it so quickly:T. Well done and good luck:beer:


I really do want to go self-managed now (inspired as you have been by the lovely posters on here:A) but after over 3 and a half years of SC holding my hand I'm still a bit nervous about going solo. I'm just a tad worried that if during the phone conversation I feel pressured to stay I might wimp out and say 'oh, alright then':eek:.

Send them a letter or email instead ?

CP2016

Yes, if you can't stick to your guns when you talk to them say you'll have another think about it then send them an email a couple of days late referencing the phone call and say you thought about it and still want to cancel.

[Deleted User]

CP2016 wrote: »

Yes, if you can't stick to your guns when you talk to them say you'll have another think about it then send them an email a couple of days late referencing the phone call and say you thought about it and still want to cancel.

Thanks. Sounds like a plan:T

I'd rather do it on the phone, at least to start with. I know they are only doing their jobs but whenever I've had to phone anyone at SC with a problem/worry they've been so patient, helpful and reassuring. I don't feel comfortable, in the circumstances, just signing off 'remotely' by email or letter:o.

CP2016

racht wrote: »

I have had issues with Next reinstating my account and adding interest then starting DMP again and refunding interest and then the next statement they would add interest yet again (for about 6 months) Anyway I wrote an official letter of complaint and also stated that my account should have been defaulted 2 years ago like my other creditors and they agreed to back date it- it finally showed up this month on my credit reports!
This has took a while to get set up though as I complained in May- I had to let my account go into arrears for them to be able to set up the new payment plan, they actually told me not to make any payments until the plan was up and running!! As Stepchange wouldn't let me miss Nexts payment I have had to go self managed- which I was planning to do anyway.

I would write and complain to them- they replied really fast and appointed me my own advisor to handle everything in regards to my account. It was good to have 1 person to contact throughout.

I sent them an email yesterday (adapting a letter I found on these forums) and this morning I got a reply apologising and agreeing to backdate the default to the start of the payment plan (2012) and refund charges and interest.

Now, 'll just watch for the default being applied and the balance reduced - by about £400 I think which will be enough to get it under 1k. So, a good start to Sunday.

racht

CP2016 wrote: »

I sent them an email yesterday (adapting a letter I found on these forums) and this morning I got a reply apologising and agreeing to backdate the default to the start of the payment plan (2012) and refund charges and interest.

Now, 'll just watch for the default being applied and the balance reduced - by about £400 I think which will be enough to get it under 1k. So, a good start to Sunday.

Thats great news- the 1st I knew the default had been added was when I couldn't log onto my online account anymore- think it took 5 weeks to appear on credit file but it was done as promised :j

heavenlyharry01

Hi

Are lloyds and Halifax the same bank as such?

I wanted to open a second safe bank account to save into and I opted for a Halifax basic. Now I've just seen when I went to register for online banking the website address is lloyds bnking group
I have a loan with lloyds.
Would they be able to take money from the Halifax account to pay the lloyds loan?

lumpyspaceprincess

Just had my latest Step change statement, wow. almost 70% paid off, I can't believe I've managed to pay so much off since I started. Oh how I cannot wait for a years time (or less ) til I'm staring at that £0 outstanding figure!