DMP & Mutual Support Thread - Part 11

lou_lou_1978

Thank you so much, this is so reassuring to read. I had never heard of there being a way out and have been worrying for ages. It sounds too good to be true when all you've been offered are credit cards with an APR of 49%!
I shall start the process straight after Xmas. Did you write to the creditors before defaulting on the first missed payment? I've cancelled all the direct debits and have withdrawn my wages in cash today to pay into my new account when it's up and running in a few days time.
Thanks for the reassurance 😊

CP2016

I wrote to them and said I was experiencing financial difficulties and I was taking advice from StepChange. Also asked them to stop interest and charges and sent a £1 token repayment to show I wasn't trying to duck out on them.

lou_lou_1978

How did you send the £1 token payment? the folks at step change told me not to make any payments to creditors using direct debit, standing order or card payment as they could potentially take more money?

sourcrates

lou_lou_1978 wrote: »

How did you send the £1 token payment? the folks at step change told me not to make any payments to creditors using direct debit, standing order or card payment as they could potentially take more money?

It's pointless making token payments.

It costs the creditor £1.40 to process a £1 payment, so your actually costing them money.

If you must contact them, simply give them the date you intend to start your DMP.

That's all you need do.

CP2016

Oh yes, sorry, I sent postal orders. I don't think that the token payments are required I just thought I'd show willing.

sourcrates

CP2016 wrote: »

Oh yes, sorry, I sent postal orders. I don't think that the token payments are required I just thought I'd show willing.

It's ok, it's all a learning curve with things a new !!!

lou_lou_1978

thanks all for your help, I'm just starting to get the letters and paperwork sorted so i can post out and get the ball rolling.

phoenixx

January2015 wrote: »

Sorry to hear about the roof - is it something that could be claimed on house insurance?

I am a little (oh okay....a lot) envious of your nearness to be debt free. It sounds so soon. In 9 days you will be saying "next year I will be debt free" - how good does that sound Seriously though, well done to you - you deserve to be chuffed with yourself.

Enjoy your credit free Christmas and New Year :beer:

Jan -x-

Hi Jan - we rang insurance about roof. Their response was: 'The wind speed in your area has not been high enough to enable a claim.' :eek: As DH pointed out, we believe roof damage a result of hail not wind. Oh well. The guy came out yesterdsy to baton it down before Storm Barbara so there goes our emergency fund.

It is weird to see debt free day getting closer as we have lived this way so long. August 2011 we started the DMP and we have learnt so much since then, often down to this forum. We have not had to drop to token payments since self management so hope it's ok. DH spoke to PRA yesterday who basically said we should leave roof and keep paying! Have you ever dropped to tokens on self managed plan? I'd be interested to hear your experiences.

Have a great Christmas Jan and as 2017 comes around you will be closer to DFD too. :A

Phoenixx x

Puzzcat

[QUOTE=phoenixx;71817535

We have not had to drop to token payments since self management so hope it's ok. DH spoke to PRA yesterday who basically said we should leave roof and keep paying! Have you ever dropped to tokens on self managed plan? I'd be interested to hear your experiences.

Have a great Christmas Jan and as 2017 comes around you will be closer to DFD too. :A

Phoenixx x[/QUOTE]

Hi Phoenixx,

I have been self managing since March and started off with the same payments I was paying through SC. But then my car needed work so I dropped them all to 50% for one month and then in September when my DD started uni realised I needed a pot of money to top up the rent so have been paying £5 a month to each since.. I wrote and informed them it would be for 3 months but 6 out of 9 put me on a 6 month plan so that's what I am doing..

Ignore PRat they are full of hot air....

Love Puzz. x

January2015

phoenixx wrote: »

Hi Jan - we rang insurance about roof. Their response was: 'The wind speed in your area has not been high enough to enable a claim.' :eek: As DH pointed out, we believe roof damage a result of hail not wind. Oh well. The guy came out yesterdsy to baton it down before Storm Barbara so there goes our emergency fund.

It is weird to see debt free day getting closer as we have lived this way so long. August 2011 we started the DMP and we have learnt so much since then, often down to this forum. We have not had to drop to token payments since self management so hope it's ok. DH spoke to PRA yesterday who basically said we should leave roof and keep paying! Have you ever dropped to tokens on self managed plan? I'd be interested to hear your experiences.

Have a great Christmas Jan and as 2017 comes around you will be closer to DFD too. :A

Phoenixx x

Just write and tell PRAT that you will be making token payments. Do not ask them, do not offer them - tell them. Just make the token payments and sit back and wait. Nothing will happen. PRAT may say they won't accept token payments, but in reality they will.

We've been on token payments twice since going self-managed. Both times creditors were all fantastic. Mind you, PRAT are one of our creditors but I am just not paying them at al :rotfl: