DMP & Mutual Support Thread - Part 11

Puzzcat

WookyHollow wrote: »

I have posted a thread - I am not sure if this is what I am supposed to do. I don't know where it has gone or even if it's in the right place. I have posted as WookyHollow and will retype if this is the place I should be. In short am considering iva as option. I don't own a house nor fancy car and have few assets. I owe 40000 and have to pay 1200 per month towards these credit card and loans. I earn 2300 per month. I have 2 sons who are helping out but am close to maxing out the credit cards I am using for shopping. Any advice please. Thanks

Hi,
I would advise you contact one of the free debt charities for some advice. I am in a dmp with stepchange and can certainly recommend them.
Puzz.x

BlueFuzzy

I've been on my DMP for 8 months now and so far everything has gone smoothly. All my creditors have stopped charging interest or fees (except BNPL interest from Very but that's unavoidable really).

I've just got my latest statement from Halifax and after months of no fees, I've suddenly been charged a month's worth of planned overdraft fees and there are forthcoming overdraft charges that will be charged next month too.

I'm wondering who to contact at this point. My DMP is with Stepchange. Should I go to them first or go straight to Halifax? If I need to contact Halifax, is it best to call or send a letter? Calling would obviously be quicker but the account is in my partner's name and phone calls can be a bit of a complication due to her anxiety. Saying that, I'm not sure what address I'd write to. It'd be a lot simpler if everyone just used email!

I wonder what our chances are of getting the overdraft fees back... if I can get them stopped is it worth pursuing a refund?

Sazzie23

BlueFuzzy wrote: »

I've been on my DMP for 8 months now and so far everything has gone smoothly. All my creditors have stopped charging interest or fees (except BNPL interest from Very but that's unavoidable really).

I've just got my latest statement from Halifax and after months of no fees, I've suddenly been charged a month's worth of planned overdraft fees and there are forthcoming overdraft charges that will be charged next month too.

I'm wondering who to contact at this point. My DMP is with Stepchange. Should I go to them first or go straight to Halifax? If I need to contact Halifax, is it best to call or send a letter? Calling would obviously be quicker but the account is in my partner's name and phone calls can be a bit of a complication due to her anxiety. Saying that, I'm not sure what address I'd write to. It'd be a lot simpler if everyone just used email!

I wonder what our chances are of getting the overdraft fees back... if I can get them stopped is it worth pursuing a refund?

Hi BlueF

I think you stand a good chance of getting the overdraft fees back, but I think you will get a better result if you contact Halifax directly.
Many people would suggest writing to them, and I'm sure someone on here will have an address, but if Mrs BF can face going through the the phone security checks, what has worked for me in the past with OH was to say to the call handler, I would like you to talk to my Mrs, I give you authority to discuss anything with her, or in your case him.

When they give their decision on what they are going to do, ask them to put it in writing, and if they won't, write back to them to confirm what you understood from the conversation and or complain if they won't refund. At least that way you sort of feel like you are doing something, not just sitting there waiting for more charges. Also remember to say if they are going to put charges on, this will reduce the amount you are able to give SC.

Good luck with it, don't be panicked by them, you are doing the right thing.

Sazzie23

WookyHollow wrote: »

I have posted a thread - I am not sure if this is what I am supposed to do. I don't know where it has gone or even if it's in the right place. I have posted as WookyHollow and will retype if this is the place I should be. In short am considering iva as option. I don't own a house nor fancy car and have few assets. I owe 40000 and have to pay 1200 per month towards these credit card and loans. I earn 2300 per month. I have 2 sons who are helping out but am close to maxing out the credit cards I am using for shopping. Any advice please. Thanks

Hi WookyHollow.

I think you possibly should post on the main thread.
Use this link http://forums.moneysavingexpert.com/forumdisplay.php?f=76
And create a new topic.

Also contact Stepchange https://www.stepchange.org
They are free debt charity and you can do their on line debt remedy to guide you to your options. Do not rush into an IVA without understanding what it means and how it will affect your life. Some debt managers promote IVA because they get a large fee for managing it. There are other free providers such as payplan and Christians against poverty.

If you want to know more about DMP's, reading back through this thread will help, but we don't have much on IVA, I think there is an IVA thread somewhere but couldn't find the link for that one,

You might also consider bankruptcy. All depends on your needs. Just make sure you take advice and understand what implications whatever you decide to might have as it's not always obvious.
I'd suggest doing a post in the main thread and seeing what response you get as well as looking at stepchange.

Good luck and don't be frightened to come back here if you need some help, we are a friendly bunch even if we don't know the answers, we can probably try to help.

Sazzie23

lumpyspaceprincess wrote: »

Just thought I’d check into the thread as it’s been a while, you’re all doing so well!

Me & MR LSP got married last month, low budget so it fit around the DMP, but had the most amazing time – it went by so fast! Back to earth with a bump and the plans to pre-emptively save for Xmas went out of the window, but we’re going to keep the present costs down one way or another. There will be no borrowing!

Checked the DMP last statement and it’s down to 16.5k now, which still seems massive but I acknowledge that it’s around 8k less than it started at so that’s awesome in the last 18 months or so. Trying to maintain positivity, and keep on trucking, though our rental house is driving us mad; there’s no issue with the landlord / letting agent (very responsive in a timely fashion) but it’s an old house and it gets a lot of damp. C’est la vie!

We’re wishing the DMP on at the moment, as we’d love to get a mortgage and move into our own place – but of course with defaults in the last 18 months and one account not yet defaulted my credit score is through the floor, and poor Mr has no credit history whatsoever. We could get a wonderful house on a mortgage for what we’re paying in rent now, such is life – and moving to another rental is out of the question presently as they’d need over a grand up front for bonds etc. That’s a 20% of a house deposit, which seems wasteful. (let’s not think about what some of that debt went on!)

Onwards and downwards, hopefully after Xmas I’ll be able to put the DMP up again, and bring that DF date down. The sooner the better!

:T:T. Double congratulations, Mrs LSP

And also for paying off 30% debt in 18 months, that's great debt busting :T:T

Sazzie23

Just thought this thread might be of interest to anyone wanting to challenge default dates.

https://forums.moneysavingexpert.com/discussion/5325956

Scaredofdebt_2

Morning everyone. I just wanted to ask for some advice. I had a letter on Saturday from Hfx basically saying pay up or we may...... I then had a statement yesterday from them which says the debt has been passed to collections and call this number if I can not clear the overdue payments, do I need to contact them or just continue as normal? Don't want to not communicate but don't want to ring if not necessary, if that makes sense. Thanks.

Growurown

Of carp, I knew fate wouldn't let me get away with it! Guess what - car wouldn't start this morning. Called out the emergency guys and they reckon the starter motor is dodgy. They did get it going though. I am trying to cash in a couple of small pension pots to raise the funds to get a better car. This one we bought in a hurry when the old car got written off and it seems we have got a lemon:( We were hoping to be able to trade it in within the next few weeks and don't want to be spending money on it now. On the plus side if we have to pay to have it fixed it might not be too much if the starter motor can be repaired. So near yet so far.......

[Deleted User]

Scaredofdebt wrote: »

Morning everyone. I just wanted to ask for some advice. I had a letter on Saturday from Hfx basically saying pay up or we may...... I then had a statement yesterday from them which says the debt has been passed to collections and call this number if I can not clear the overdue payments, do I need to contact them or just continue as normal? Don't want to not communicate but don't want to ring if not necessary, if that makes sense. Thanks.

Someone will be along soon, I'm sure, who can put you right on this problem which sounds as if it was a bit scary. I've never had a letter like that so can't advise but from other posts on the thread when people have had something similar happen it generally turns out to not be as bad as it seems.

kb_soma

Hi all, so sorry I've not been in for a while - I tend to drop off the Internet forum radar on occasion. Looking forward to catching up. Looks like we have some new dmps starting up this month.