DMP & Mutual Support Thread - Part 11

Billy12345

BDFSH I've been in a DMP for the last six months and it was the best thing I did, finally getting a grip on my finances has been a godsend.

Anyway I've just done exactly the same thing with SC. I've gone on reduced payments of £5 per month for the next two months (SC said the banks etc wouldnt like an extended period so we agreed 2 months to get things sorted) but whilst I was on the phone they also did my review as I said the initial payments were too high, this reduced my payment by £110 per month which is great for the short term and I'll make increased payments as time progresses. That will kick in at April but the lady at SC said I'd have to contact the creditors myself which I'm doing now. My DMP will now take 14 years to clear but I'm confident it'll be paid in less than that.

I have to say this forum is great and the advice is excellent from everyone. I had a few bad nights etc before I started down this road as I felt guilty for not paying but now I'm feeling like January2015 by liking my DMP.

I'm a newbie on here and follow this forum daily and cannot thank everyone enough. Heres to a better financial 2017 :beer:

BeingDebtFreeStartsHere

Billy12345 wrote: »

BDFSH I've been in a DMP for the last six months and it was the best thing I did, finally getting a grip on my finances has been a godsend.

Anyway I've just done exactly the same thing with SC. I've gone on reduced payments of £5 per month for the next two months (SC said the banks etc wouldnt like an extended period so we agreed 2 months to get things sorted) but whilst I was on the phone they also did my review as I said the initial payments were too high, this reduced my payment by £110 per month which is great for the short term and I'll make increased payments as time progresses. That will kick in at April but the lady at SC said I'd have to contact the creditors myself which I'm doing now. My DMP will now take 14 years to clear but I'm confident it'll be paid in less than that.

I have to say this forum is great and the advice is excellent from everyone. I had a few bad nights etc before I started down this road as I felt guilty for not paying but now I'm feeling like January2015 by liking my DMP.

I'm a newbie on here and follow this forum daily and cannot thank everyone enough. Heres to a better financial 2017 :beer:

Hi Billy,

Thanks for sharing this

I too am in the process of informing the creditors regarding the reduced payments. Have emailed two so far and plan to do the rest this evening. Did you call/email/send letters to your creditors??

Our DMP still has another 11 years to run :eek: so I guess in the grand scheme of things an extra couple of months won't make much difference - just gives us a lttle bit extra to get by

Take care,

BDFSH x

Ctam1709

Hi

I've been lurking for a few months now and finally plucked up the courage to post as I desperately need advice, my husband and I have debts totalling £30k. Around £18k is in my name and the other £12k in my husbands name.

I had to leave work as my 3 year old son is disabled his disability was diagnosed when he was 1. my husband works full time but only earns around £25k per year and losing my £25k salary has been a big strain financially and I had to constantly apply for credit and loans which was stupid and it was all left on my shoulders as my husband has never taken an interest in money he spends what he likes and becomes aggressive if I question him or try to tell him how little money we have. Our marriage has been in a bad way for a few years he resents how much time I take with our son and can be very rough physically with him so much so I no longer am able to leave him alone with him. We also have 2 other children who see this behaviour and are frightened of him now, he drinks 2-3 litres of vodka a week I know our marriage is over and I need to get my children out of this and myself as he has been violent in the past towards me. I have secured a private let accommodation for me and the children. My problem is the debts I want to do a dmp however Part of the £12k debt of my husbands are satsuma loans and 2 payday loans I took out in my husbands name which he doesn't know about and I'm petrified he will use this against me when I leave is there anyway I can have the debts transferred to my name to add to my dmp? I know I've been very stupid and I'm willing to pay these back for him but I'm worried he will have me arrested when I leave him and will end up with my kids. Any advice gratefully received 😔

Sazzie23

Ctam1709 wrote: »

Hi

I've been lurking for a few months now and finally plucked up the courage to post as I desperately need advice, my husband and I have debts totalling £30k. Around £18k is in my name and the other £12k in my husbands name.

I had to leave work as my 3 year old son is disabled his disability was diagnosed when he was 1. my husband works full time but only earns around £25k per year and losing my £25k salary has been a big strain financially and I had to constantly apply for credit and loans which was stupid and it was all left on my shoulders as my husband has never taken an interest in money he spends what he likes and becomes aggressive if I question him or try to tell him how little money we have. Our marriage has been in a bad way for a few years he resents how much time I take with our son and can be very rough physically with him so much so I no longer am able to leave him alone with him. We also have 2 other children who see this behaviour and are frightened of him now, he drinks 2-3 litres of vodka a week I know our marriage is over and I need to get my children out of this and myself as he has been violent in the past towards me. I have secured a private let accommodation for me and the children. My problem is the debts I want to do a dmp however Part of the £12k debt of my husbands are satsuma loans and 2 payday loans I took out in my husbands name which he doesn't know about and I'm petrified he will use this against me when I leave is there anyway I can have the debts transferred to my name to add to my dmp? I know I've been very stupid and I'm willing to pay these back for him but I'm worried he will have me arrested when I leave him and will end up with my kids. Any advice gratefully received 😔

Hi, no time for a proper reply but couldn't just ignore this.

Your priorities are (in this order) : safety of children, your safety, getting a safe place to live, their happiness, your happiness, working out how to survive without an abusive thug, and right at the bottom, dealing with unsecured debt.

Do not leave him without taking advice from a domestic violence specialist charity or the police expert domestic violence (not your average plod) there are high risks in conflict with this type of controlling individual, however you must start looking at a strategy to get him away from your children. Even if he does love them, the drink is making him a real problem. Your GP should be able to put you in touch with someone confidentially, however I have to give you the warning there is a chance social services could remove the children until you have a safe place for them, so I'd recommend trying to contact
http://www.nationaldomesticviolencehelpline.org.uk

As a first point of call. Once you've made a start with them, we can talk about dealing with debts.

YOUR CHILDREN COME FIRST BEFORE ANY DEBTS

Saz

heavenlyharry01

Carbootcrazy - yes most if not all have contacted us now. All standard letters, nothing threatening at all. Most included their own budget sheets and some asked us to send pay-slips and bank statements (which I won't do).
Going on Sourcrates advice, I will continue non payments for as long as I'm comfortable with!!! (Nervous laughter)!

Billy12345

BeingDebtFreeStartsHere wrote: »

Hi Billy,

Thanks for sharing this

I too am in the process of informing the creditors regarding the reduced payments. Have emailed two so far and plan to do the rest this evening. Did you call/email/send letters to your creditors??

Our DMP still has another 11 years to run :eek: so I guess in the grand scheme of things an extra couple of months won't make much difference - just gives us a lttle bit extra to get by

Take care,

BDFSH x

SC told me to call them but I'm always nervous about calls as there is no proof you made it so I'm calling them first then backing this up with emails just to show that I've actually contacted them. TBH this is the first time I have contacted them directly as SC has done everything with the creditors beforehand. The DMP is a long road which will have higher and lower payments as we go but as long as payments are being made we should have no problems (fingers crossed):j

BeingDebtFreeStartsHere

Billy12345 wrote: »

SC told me to call them but I'm always nervous about calls as there is no proof you made it so I'm calling them first then backing this up with emails just to show that I've actually contacted them. TBH this is the first time I have contacted them directly as SC has done everything with the creditors beforehand. The DMP is a long road which will have higher and lower payments as we go but as long as payments are being made we should have no problems (fingers crossed):j

Thanks Billy
My emails have been sent - just awaiting responses :eek:

They can only have what we can afford and unfortunately this is only £5 per creditor for Feb and March. Hopefully they will all be understanding!!!!

Keep me posted on how you get on with your calls/emails

Take care,

BDFSH x

sourcrates

carbootcrazy wrote: »

You're so much braver than me:A. I'm such a scaredy cat, I constantly fear the worst will happen if I take the slightest step out of line

I intended to just have one month of paying nothing whatsoever to creditors, with the legitimate excuse that it's taken time to get the information back from them and set up my SOs. Even I'm brave enough to do that;). I'd like to extend it though so I can get a bit more of a savings cushion. It's clear from your post that nothing dreadful happens after 2 months missed payments. :

Hi Carboot,

I know these things have been gone over before in detail, but i really do want to put your mind at rest.

Original creditors virtually never take legal action on consumer debts, 99.9% of the time they first pass the accounts to a DCA to mange, and remember, the DCA has no power to do anything, other than advise there client.

This situation can continue for years, they may use various DCA`s during that time, at times, they may go quiet, a year may pass without contact, eventually they may sell the debt on, its at this point, after trying to contact you, that the DCA who bought your debt, may consider legal action.

You can never say never, but thats the usual course of events, so get yourself a good emergency fund saved up, and dont concern yourself with things that may never happen.

blisteringblue

Seriously listen to Sourcrates. I'm fighting to get defaults 3 years in to my DMP which could have been 3 years into the default dropping off my file rather than another 6 years from now whenever I finally get them all.

Recent legislation means creditors have to do EVERYTHING they can to help you. Gone are the days of trying to intimidate you into paying.

I had one bottom feeder refuse my payment of £1 because my current Financial Statement shows a deficit. They told me to pay nothing because I can afford nothing. 2 years ago they would have been beating down my door to hassle any sort of payment out of me.

[Deleted User]

sourcrates wrote: »

Hi Carboot,

......You can never say never, but thats the usual course of events, so get yourself a good emergency fund saved up, and dont concern yourself with things that may never happen.

Thanks so much for that, sourcrates:T. You're always a voice of wisdom and reassurance in my scary world:A

I'm going to bite the bullet and do it:j:j:j