DMP & Mutual Support Thread - Part 11

January2015

Ariel82 wrote: »

ive just set it up a couple of days ago so just waiting for the new debit card and everything go come through the post, I'm worried that if I cancel things im going to run up charges for non payment and going over credit limits etc, I've got all the essential direct debits switched already like rent/water/phone etc just none of the unsecured debts, their next payments arnt due until next month now except my bank loan (old bank not safe bank) which is due tomorrow but I cancelled the dd for that accidentally yesterday

Phone bank and advise you are in process of setting up DMP, make £1 token payment over the phone and they will immediately put a 30 day hold on your account and any charges. Nearly all banks and credit card companies are signed up to The Lending Code (haven't come across any major ones who are not signed up).

Don't panic - I know phoning is hard but if the payment is due this week and you aren't going to pay it (and why bother if you are going into a DMP anyway), phone and explain.

The Lending Code, Section 224 states:

• Subscribers should consider reducing or stopping interest and charges when a customer evidences that they are in financial difficulties. Such reduction/suspension decision should be based upon an income and expenditure statement indicating that they are unable to make repayments sufficient to meet contractual terms. Where a customer is able to make only token payments, their debt should not increase as a result of interest and charges levied. The assessment should reflect the customer’s lack of ability to pay rather than the stage an account has reached in the arrears cycle or whether they are using free sources of debt advice. Where a firm declines to allow concessions, they should be prepared to explain why to the customer or their adviser if requested to do so.

Ariel82

I use to work in a call centre so I'm quite happy to fight with people over the phone, it's in person I'm a coward :rotfl:
Thanks for the advice

January2015

Ariel82 wrote: »

I use to work in a call centre so I'm quite happy to fight with people over the phone, it's in person I'm a coward :rotfl:
Thanks for the advice

No problem:beer:
The hardest part is facing up to level of debt and the fact you can't keep up repayments at the full level.

The next bump (from your perspective) is the few months whilst it's set up and you are paying token payments. You worry, you panic, the creditors actually are fine with it - but you don't believe/realise that until you have actually got through this stage (at least I didn't)

We are just 7 months into our DMP now and life is so much better for us. We've have hiccups (car breakdowns being the worst for us) but in general we are fine and so much happier. Our debt free date is a long way off, but we plan to bring that forward in any way we can.

On the journey, just remember defaults are a good thing and the faster you are defaulted the better. Most creditors do zero interest. A few notorious companies won't play ball - B'card for instance do reduce interest but only zero it if your payments through the DMP are below 1% each month. Mine are 1.03% :mad: so they charge me 3% interest - which means I clear less each month than if I paid less than 1%....soooooo frustrating:mad::mad: You will, no doubt, soon pick up on these things and will feel like a seasoned pro DMPer very quickly.

Good luck with your DMP journey and keep us all posted on your progress:beer:

Growurown

norainbows wrote: »

Hi


I just wondered if anyone can advise me. IDEM debt collection agency have just called and left a message about an outstanding debt of £94.


Two months ago we finished the long 7 year DMP slog and paid all our debts off - se we thought. All balances through Step Change were nil. IDEM were among the companies debts had been sold to. Again and again in some cases.


What should we do under these circumstances: ask for a print out of all monies paid? Why are they still asking for money. I'm sure they can say over the phone anything but how do we confirm if we really still owe them this amount or not owing to the fact the debts had been sold on and finding out the original figure owed and all the payments made have long since been a muddle to us.


Any guidance would be much appreciated.


Thanks in advance.

I'm not sure really, anyone else out there in DMP land know? I have heard of cases where people thought all their debts were paid, but didn't realise there had been charges or interest added. SC balances assume no interest or charges are being added to the amount owed, so they aren't always correct. I don't know if this is what has happened in your case. I would be inclined to ask for a break down of your debt and see where this extra amount has come from.

marriedworriedmum

Can anyone with more experience tell me if I've handled this correctly please?

We have been with StepChange on a DMP since 2009 all been going great and never missed a payment until this year - literally year from hell! (Long story on another thread) but we missed a couple of payments, thankfully I have now spoken to StepChange and its all back up and running phew!

During this time lloyds have passed my loan debt from 2002 onto Moorcroft. I googled them and promptly scared myself silly!
I have rang StepChange who have updated their details and said they will contact them and send this months payment with an updated financial assessment.
I asked StepChange if I should contact them and they said it wasn't necessary but up to me.

Yesterday I promptly received a letter from Moorcroft saying I need to contact them as a matter of urgency, not to ignore this letter call us today etc.
So I did a bit of research and posted a letter recorded delivery. It states I have been on a DMP with StepChange since 2009. I recently missed a couple of payments, explained why and that the DMP was still running and StepChange would contact them with regards to the monthly payments and an updated financial asessment. I also informed them that I would not deal with the matter of the telephone only via letter or through StepChange.

Does this sound about right? I told StepChange about the stuff that I had read online and they said not to worry but -I'm a worrier!

Any tips or advice would be greatly appreciated thanks!

marriedworriedmum

Oh and I didn't sign my name only printed it! Thanks to advice on here

[Deleted User]

marriedworriedmum wrote: »

Oh and I didn't sign my name only printed it! Thanks to advice on here

I'm so sorry to hear you've been through a bad time and having all this current DMP stress and worry on top of it. I hope things are getting back to normal again now:beer:.

Sorry I can't answer your query, I've had various problems of my own arising from my DMP but not your particular one. I hope you can get it sorted asap:j

I'm intrigued by what you said about just printing your name and not signing it. Could you explain what you meant by that please?

Take care of yourself:)

marriedworriedmum

Hi carbootcrazy Thanks for your kind post hope your problems get sorted too, it can be so stressful can't it?

I read on here when writing to request things from creditors/DCA agencies etc to not sign your signature as they can forge it to produce cca requests etc - think I have that right anyway who knew these people could be so sneaky!

zenshi

I saw in another thread the other day about tax credits over payments and some years that meant poss, non payment? Can anyone remember, I can't for the life of me find it and want to check to see if I qualify

[Deleted User]

marriedworriedmum wrote: »

I read on here when writing to request things from creditors/DCA agencies etc to not sign your signature as they can forge it to produce cca requests etc - think I have that right anyway who knew these people could be so sneaky!

:eek::eek::eek: I would never have imagined they could be that bad.

Thanks very much for the warning:T