DMP & Mutual Support Thread - Part 11

Debtfreehopeful

carbootcrazy wrote: »

Congratulations on getting a Nationwide account set up. I'm with them too, as are a lot of others on here, and they are so easy to work with. If ever I've had a problem the call centre person was so helpful, friendly and efficient. Made me, even with my basic account, feel like a valued customer:j. Just the opposite of my original bankers (beginning with Ll) who were a total pain:(.


As for your experience with the SC advisor I just want to say that it totally depends on who you get dealing with your query. They don't always work from the same 'script';). I had to discuss something and it was a long involved query that needed me to hang up and find some information for them. It was a different advisor who I spoke to when I rang again. Although a 'note' of my earlier session had been placed on my file the second person seemed to be treating the query and its outcome in a different way to the first one. The advice and solution were not how I was led to believe would happen when I discussed things with the original advisor:eek:

Incidentally, your April suggestion seems totally fair to me. As you haven't even sent your DD instructions to them yet you may be too late for the Feb payment to go out anyway (I think they do it on 1st or 10th according to your choice but I could be mistaken:o). Something in the back of my mind says they can make a later payment but I'm not sure if this is so. Sorry, I'm not being much help here am I?:o If you can delay getting the DD details to them (quite possibly you couldn't let them have them even if you wanted to if you are still waiting for your new bank to get in touch with you;)) you'll miss Feb's payment going out anyway. Please don't take this as gospel though, someone like January, sourcrates or Sazz will be in a far better position to advise you than me. But even if SC had time to pay it this month and had planned to do so it's only Feb and March that you'd asked to be delaying for. Doesn't seem an unreasonable request for you to make:)


Good Luck:beer:. Please come back and let us know how you get on:)

Thankyou Carbootcrazy :A
It's handy to know how SC work with creditor payment dates. I think April will be a good time to start so I can get a bit more emergency fund money together and have a bit of a breather!
I think I'm going to wait until my Nationwide bank account's up and running before a) phoning my creditors and b) getting all my SC paperwork back to them. I am going to eventually do a self-managed DMP but need a bit of hand holding to start...
Thank you for sharing your experience and advice- I will continue to keep updating everyone

[Deleted User]

Debtfreehopeful wrote: »

Thankyou Carbootcrazy :A
It's handy to know how SC work with creditor payment dates. I think April will be a good time to start so I can get a bit more emergency fund money together and have a bit of a breather!
I think I'm going to wait until my Nationwide bank account's up and running before a) phoning my creditors and b) getting all my SC paperwork back to them. I am going to eventually do a self-managed DMP but need a bit of hand holding to start...
Thank you for sharing your experience and advice- I will continue to keep updating everyone

Thank you:)

Like I said before, I hope someone more knowledgeable than me will confirm the dates I gave. Incidentally, did SC offer you a choice of the date you want your DD to go out? Maybe they aren't up to that stage yet, seeing as how you haven't confirmed your DD details with them yet.


I'm self managing now after nearly 4 years on a DMP , this is my first month without SC holding my hand and I was slightly (no, extremely) anxious about going solo:o. Everyone else's experiences of self managing have been so positive that it eventually gave me the courage to go for it. That's what's so wonderful about this thread and the amazing and generous people on it. It is totally non-judgemental, reassuring and inspiring:A:A:A.

OrganisedNic

Hi all!

Wow- I have a lot to catch up on ... welcome all new members!

So my biggest debt as I've said before is with first direct and I used to have a personal account with them but obviously moved all DD and wages into a separate account to protect my money. I've since received a substantial refund from a company whom i forgot to tell them my new account details. The money went into FD and was very swiftly taken out by me to go into new account.

Now I'm panicking - will FD see that money went in and demand it back? ...

Nic

sourcrates

OrganisedNic wrote: »

Hi all!

Wow- I have a lot to catch up on ... welcome all new members!

So my biggest debt as I've said before is with first direct and I used to have a personal account with them but obviously moved all DD and wages into a separate account to protect my money. I've since received a substantial refund from a company whom i forgot to tell them my new account details. The money went into FD and was very swiftly taken out by me to go into new account.

Now I'm panicking - will FD see that money went in and demand it back? ...

Nic

Doesn't work like that Nic.

It's still your money, they can demand all they like (they won't, because it's not how banks work).

Stop panicking !!!

Nothing will happen, the sun will rise in the morning, the earth will continue to spin, they will accept your DMP proposal, just carry on as normal.

OrganisedNic

Sourcrates I needed that right now. I realised how silly it sounded when I typed it out but these panics seem to come out of nowhere nowadays..!

But you're right, nothing bad has happened so far so keep on plodding !! Hope all is well with you

Nic

2017spark

Evening all, just an update from another newbie!
I returned my SC paperwork today, have a new basic account opened and have started making my list of creditors and account numbers to go to SC.
I know a lot of people have delayed to build up an emergency fund, but I just want to get going! Will be finished as soon as possible that way! I'm going from keeping up with payments to a DMP so some creditors may be shocked!
Once I have online access to my new account I will cancel all DD and be on my way!
Scary times but I know I'm doing the right thing.

One question, do you get a call with SC when the plan is first set up? To go over the details like payment date etc?

Thanks all

OrganisedNic

Hi 2017spark, well done for getting the ball well and truly rolling !

Yes, stepchange will contact you once they have received all the paperwork to confirm your start date and for any questions you may have - if you have anything before that don't worry about giving them a call or sending a quick email, they are wonderful at getting back to you and easing your worries.

I would echo the importance of trying to build up an emergency fund. it may seem like you don't "need" or even "deserve" that little bit extra for a rainy day/ broken down car/ vet bills but if (when) you need it, credit won't be available to you. Think of it as building up a little personal credit card for yourself (for emergencies only!) trust me, you'll sleep better at night and your creditors will much prefer you be consistent with your payments knowing you have budgeted well enough to LIVE.

Even if it isn't a big chunk to start off with, try and make sure you budget allows a bit of extra leeway each month - I have £30, over the year that's £360 for that dripping shower, broken washer... it happens to the best of us !

Best of luck,
Nic

sourcrates

OrganisedNic wrote: »

Sourcrates I needed that right now. I realised how silly it sounded when I typed it out but these panics seem to come out of nowhere nowadays..!

But you're right, nothing bad has happened so far so keep on plodding !! Hope all is well with you

Nic

It's fear of the unknown, plays tricks on your mind.

Once you reason things out rationally, you'll see there was never anything to worry wbout.

I've been there myself, I know exactly how it feels, first time missing payments, like "oh !!!! what's gonna happen".

Truth was, nothing happened, once you get over the initial shock of it all, you'll be fine !!

CP2016

OrganisedNic wrote: »

Sourcrates I needed that right now. I realised how silly it sounded when I typed it out but these panics seem to come out of nowhere nowadays..!

But you're right, nothing bad has happened so far so keep on plodding !! Hope all is well with you

Nic

Hi Nic, just a little more reassurance. My car was written off just as my DMP was starting and the insurance company paid my claim money into my old bank account. Thankfully, I was still checking it so I was able to get it right back out of there and into the new account. Never heard anything from them about it.
Glad to hear that it's getting to the plodding stage for you. :beer:

Debtfreehopeful

Hi,
I'm just looking for some clarification with regards to AP markers staying on your file for up to 12 years after the debt has been cleared.
Would having a DMP automatically make some creditors default you?
As I'm looking to set up a SC DMP for a few months and then go self-managed, if there was a break in the payments, again would that be likely to cause a default?
Thanks for your help!