DMP & Mutual Support Thread - Part 11

Scaredofdebt_2

Brogden wrote: »

Everybody has asked me that !! At the start, around 3 to 4 years ago it did freak me out a bit and I thought 'why are they asking that?'

They are ticking their boxes. Yes, at the end of the day we do know why they are asking but keep in regular contact, answer them when they want to speak to you and pay 'something.' Nothing nasty will then happen.

Don't worry......there's nothing to fear from DCA's and they are almost exclusively very pleasant !!

Thanks Brogden, it did freak me out but we intend to keep paying and have no problems with speaking to them so hopefully there will be no nasty surprises. It's funny as the man from the DCA apologised for all of the letters and phonecalls and said he could not do anything to stop them - we have not had one letter nor phone call!! Fingers crossed it stays that way.

January2015

I am very frustrated with Very I have one payment outstanding, which equates to my October DMP payment. I am logging into my Very account daily to see if it has hit the account and zeroed the balance and each day the same paltry figure stares back at me from the screen.

The thing is if the balance is not cleared by the end of the month the dreaded Buy Now Pay Later interest kicks in and will add almost £300 to my debt I think if the balance doesn't zero by 30th October I will just make an extra payment and then see if I can get the overpayment back when the DMP payment from SC hits the account.

Oh the stressssssssssssss

Sazzie23

January2015 wrote: »

I am very frustrated with Very I have one payment outstanding, which equates to my October DMP payment. I am logging into my Very account daily to see if it has hit the account and zeroed the balance and each day the same paltry figure stares back at me from the screen.

The thing is if the balance is not cleared by the end of the month the dreaded Buy Now Pay Later interest kicks in and will add almost £300 to my debt I think if the balance doesn't zero by 30th October I will just make an extra payment and then see if I can get the overpayment back when the DMP payment from SC hits the account.

Oh the stressssssssssssss

If I was cynical, I might think that Very could be delaying the transaction? If it's affordable, I would pay it again and reclaim after saying you didn't realise the Oct payment had already been made. The fact you are on a DMP doesn't mean they can take 2 payments if you are paid up already. O
If course it might be all straightforward and appear on tomorrow's accounts sheet.

Robbob

Hi I'm a newbie so hello! My husband and I have been in a debt arrangement scheme for 3 years. We have a year and a half left. We are really needing to sell our flat and get a bigger house as we had a 2nd baby last year. We have managed to get an adverse credit mortgage approved in priniciple, with a good interest rate and a 15% deposit. When we sell our house we should get about £20,000. We only have about £4000 to pay off on our debt arrangement scheme. My question is; do you think we should pay off the debt arrangement scheme and rent a house for a year or so. Save up what we would have been paying towards our debt and buy a property once we have saved up enough for a deposit on a bigger property. Or should we try buy somehwere straight away and continue paying our debt arrangement scheme until it's conclusion? Staying in our flat isn't really an option as it is going to start needing a fair but of maintenance and we don't really have the extra cash to do this plus we wouldn't be gaining from this when we came to sell the property. Other option is to move in with our parents for a few months which would allow us to save probably about £1000 a month. Just not sure how long I could do that for!! Sorry for long post, just looking for a bit of advice and other people's views. Thanks in advance x

Dandytf

Robbob wrote: »

Hi I'm a newbie so hello! My husband and I have been in a debt arrangement scheme for 3 years. We have a year and a half left. We have managed to get an adverse credit mortgage approved in principle, with a good interest rate and a 15% deposit.

Do you mind me asking which provider has approved your mtg in principle-what rate is offered.
thanks

Robbob

Sure I went through assured finance a broker caller Sean Wilkins. 4.25% fees are £1850, broker fee 850 and valuation 395.

racht

January2015 wrote: »

I am very frustrated with Very I have one payment outstanding, which equates to my October DMP payment. I am logging into my Very account daily to see if it has hit the account and zeroed the balance and each day the same paltry figure stares back at me from the screen.

The thing is if the balance is not cleared by the end of the month the dreaded Buy Now Pay Later interest kicks in and will add almost £300 to my debt I think if the balance doesn't zero by 30th October I will just make an extra payment and then see if I can get the overpayment back when the DMP payment from SC hits the account.

Oh the stressssssssssssss

Have you checked your balance this morning? My payment was credited today finally. If it isn't and you can afford it I would be tempted to pay it and then see if you can get it back.
When they added my BNPL interest I was very surprised that they only added interest for the months before I was on the DMP and not the full amount.

stormpassing

Hi all,

I don't post often but visit most days. I'm a relative newbie (1st month) so very often have little to offer. Just wanted to express thanks to all who do post especially the seasoned posters. I have to say that the whole dmp process would have been a lot more stressful without this thread. It's often the simplest info that helps ie bracing myself for the fact that BC won't stop interest (I wasn't disappointed)!! Expecting default notices on a Saturday. I received Tesco CC today and it made me smile that it arrived today. That defaults are a good thing and why that is the case. There are so many examples of how this thread has reduced my stress so I won't bore you with them all. Will just leave you with my heart felt thanks :T

Keep doing what you are doing so well,

SP x

January2015

racht wrote: »

Have you checked your balance this morning? My payment was credited today finally. If it isn't and you can afford it I would be tempted to pay it and then see if you can get it back.
When they added my BNPL interest I was very surprised that they only added interest for the months before I was on the DMP and not the full amount.

I got quite excited when I read your payment was credited today.....popped across to Very my DMP payment still not credited. I have until the end of the month, so I will keep checking daily. It's a small amount (about £20) so I will definitely pay it myself if DMP payment not showing soon. There is absolutely no way I am getting stung for BNPL interest.

On another note, I tried to do an online DMP review today (7 months in, but things have changed for us a bit and I thought it would be useful to do this). It won't let me - says I have to phone SC It's not the end of the world, but I won't get round to phoning SC this week. Hey ho, it can stay as it is for now :cool:

Sazzie23

stormpassing wrote: »

Hi all,

I don't post often but visit most days. I'm a relative newbie (1st month) so very often have little to offer. Just wanted to express thanks to all who do post especially the seasoned posters. I have to say that the whole dmp process would have been a lot more stressful without this thread. It's often the simplest info that helps ie bracing myself for the fact that BC won't stop interest (I wasn't disappointed)!! Expecting default notices on a Saturday. I received Tesco CC today and it made me smile that it arrived today. That defaults are a good thing and why that is the case. There are so many examples of how this thread has reduced my stress so I won't bore you with them all. Will just leave you with my heart felt thanks :T

Keep doing what you are doing so well,

SP x

Who ever thought we'd manage to get a smile out of a default letter? Sometimes its the oddest things in life that show us what has been learnt.

Every poster is important, asking, replying or sharing - thank YOU SP.