DMP & Mutual Support Thread - Part 11

phoenixx

January2015 wrote: »

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:

Hi January2015 - we found we always had to update DMP over the phone. Never able to use the online which was frustrating. We asked SC and they could never tell us why this was...looks like you are going great guns with the debt clearance though :T You have inspired me to update my signature. Will try to do it :j

KID77

I totally agree with you Stormpassing, this forum has been the most helpful source of information regarding my DMP. I spent a weekend reading through the previous 2 threads before i decided to do it so by the time i contacted Stepchange, I wasn't in so much of a state. My advice to anyone thinking of starting a DMP or just starting out is to read back on previous threads as it has everything you could possibly want or need to know in relation to DMPs. It does take a while but its a big decision to go on a DMP and apart from selling your house, its probably the last resort so definitely worth taking the time to read.
I cant believe 6 months ago we struggled to pay all our debt, withdrawing money from cc's just to get by and hoping that one day it would just all get better. The thought of not paying our minimum payments wasn't something i thought we could do without our house being repossessed and that hard working normal people like us didn't get into these situations. This forum made me realise that ALOT of people get into debt and normal hard working people that haven't intentionally set out not to pay it back. Ok so our credit file is ruined but that hasn't affected our daily lives and we are so much happier now that we are more in control of our finanaces. Still a long way to go to pay it all back but so far so good and fingers crossed it stays that way.
I know I am rambling but just want to say thank you to everyone who has contributed to these forums and continues to do so :-) xxx

SpamTomorrow

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

Totally agree with this, really similar to how I feel. Resource and support on this forum is so, so valuable. Hope to be able to offer others support one day myself.

January2015

phoenixx wrote: »

Hi January2015 - we found we always had to update DMP over the phone. Never able to use the online which was frustrating. We asked SC and they could never tell us why this was...looks like you are going great guns with the debt clearance though :T You have inspired me to update my signature. Will try to do it :j

Thank you for this Phoenix - I feel more reassured now there is not some 'problem' that will come up when I phone SC. Funny how simple things can set of a little panic button in my head someties :rotfl:

Updating my signatuare is the highlight of my month - it really is. I love seeing those numbers come down and the percentage paid off going up. Glad I have inspired you. I must admit it was seeing others posting their debt busting on their signatures that inspired me in the first place. I love your signature. Your starting figure was close to mine and look where you are now. I am in awe of you

Perhaps if I do the same with my weight it will inspire me in the same way :rotfl:

Growurown

Penultimate payment made today. Tesco's finished, Halifax CC finished, getting very excited now! Hope the car doesn't let me down big time when it goes in for it's MOT this week.

Sazzie23

Growurown wrote: »

Penultimate payment made today. Tesco's finished, Halifax CC finished, getting very excited now! Hope the car doesn't let me down big time when it goes in for it's MOT this week.

Yippee, happy dance :j:j. Excited for you and fingers crossed with the car. :beer:

Iwanttobefree

tequilabird wrote: »

Creation Finance are playing silly !!!!!!s! They have accepted my DMP payments, but won't stop interest. They initially said they would lower it to 0.49%. Since then, I have complained to their Customer Care team explaining that it would not help my financial situation in any way if they keep adding even the smallest bit of interest. They have now 'investigated' my complaint and said that they are under no obligation to stop interest (which I know). They have refunded me about £25 of interest charges (result) but now it says my interest will be 3% per calendar month?! I'm confused! Has anyone successfully managed to stop interest on their account?

Anyone had any success making token payments of about £5 to this company?

Tempted to try to get them to default it, take me to court (would rather a ccj and frozen interest)?

Creation have been more problem than all my other debts put together, I had to go to the FSO last year to get them to reduce it to some sort of decent amount and now a year later, I'm fighting exactly the same battle again.

We owe them 17000 on 3 different credit cards.

£6446, £6055 and £4869

With the reduced interest last year AFTER going to the FSO (creation didn't admit fault but reduced the interest anyway)

We were paying them back a total of £104.39,
£44.06 a month was interest so we were only paying them back £66.33 meaning it will take me 24 years to pay it off or until I'm 75

If they froze the interest, it would take me 14 years or until I'm 65, still a long time but much more doable.

The stupid thing is, this is making me and my wife so stressed it's slowly killing us both, so the chances of things improving financially are zero, more likely will get worse due to ill health.

While I'm not trying to get out of repaying, I do think Creation have to take some of the responsibility.

Me very ill and depressed, not in right frame of mind applying for cards online while depressed. A few clicks of a mouse, very little details requested. We already were up to the limit on one of their cards having only made minimum payments for years, so what do they do, send us another two cards with £10k of credit.

If I lent a friend 10K after they struggled to repay back my original loan, almost 100% of you would tell me it's my stupid fault for lending them more.


On a separate note, when you phone the likes of Payplan and Stepchange etc, they ask you about all your debts etc then happily tell you your estimated debt free date.

They should know by now that if any debts are with Creation, this is simply not a true or close debt free date hence should stop giving people false hope. All it does is push the stress levels to breaking point when a few months later we find this isn't the case.

rainbowgirl1

Growurown wrote: »

Penultimate payment made today. Tesco's finished, Halifax CC finished, getting very excited now! Hope the car doesn't let me down big time when it goes in for it's MOT this week.

Well dos hope the car is ok. We have ours going in on Thursday.

rainbowgirl1

Iwanttobefree wrote: »

Anyone had any success making token payments of about £5 to this company?

Tempted to try to get them to default it, take me to court (would rather a ccj and frozen interest)?

Creation have been more problem than all my other debts put together, I had to go to the FSO last year to get them to reduce it to some sort of decent amount and now a year later, I'm fighting exactly the same battle again.

We owe them 17000 on 3 different credit cards.

£6446, £6055 and £4869

With the reduced interest last year AFTER going to the FSO (creation didn't admit fault but reduced the interest anyway)

We were paying them back a total of £104.39,
£44.06 a month was interest so we were only paying them back £66.33 meaning it will take me 24 years to pay it off or until I'm 75

If they froze the interest, it would take me 14 years or until I'm 65, still a long time but much more doable.

The stupid thing is, this is making me and my wife so stressed it's slowly killing us both, so the chances of things improving financially are zero, more likely will get worse due to ill health.

While I'm not trying to get out of repaying, I do think Creation have to take some of the responsibility.

Me very ill and depressed, not in right frame of mind applying for cards online while depressed. A few clicks of a mouse, very little details requested. We already were up to the limit on one of their cards having only made minimum payments for years, so what do they do, send us another two cards with £10k of credit.

If I lent a friend 10K after they struggled to repay back my original loan, almost 100% of you would tell me it's my stupid fault for lending them more.


On a separate note, when you phone the likes of Payplan and Stepchange etc, they ask you about all your debts etc then happily tell you your estimated debt free date.

They should know by now that if any debts are with Creation, this is simply not a true or close debt free date hence should stop giving people false hope. All it does is push the stress levels to breaking point when a few months later we find this isn't the case.

Just wanted to say hang in there. I'm new and don't have much advice to offer but hopefully someone will be able to advice you here who is more experienced

rainbowgirl1

Update from my DMP. I'm making my first DMP to Stepchange on the 1st on November so far I have had the following from my creditors:


Virgin Money - agreed to payment plan and freezing interest
MBNA - agreed to payment plan and freezing interest
Tesco - agreed to payment plan and are sending us a default notice so that interest and charges would stop
Halifax - After sending a few letters threatening etc over 2 weeks they have agreed to payment plan and freeze interest and will review in April


Still haven't heard from Barclaycard, Cahoot and Mint.