DMP Mutual Support Thread - Part 12

Bear04

Have just done exactly the same thing after being with SC for 16 months. Feeling a lot more in control now and have already spoken to all creditors telling them my self managed DMP wont be starting until end of July. Got a bit of a surprise at the way they all said it wasn't a problem. Now to try and clear these debts(9 creditors) one by one on my terms.

Rebeccadougherty

Hi all
I've read a lot of this thread and it's fab so sorry if a repeat of something that's been asked.

This would be my third DMP payment coming up- 466.00. I've been reading the thread and found out I could have, instead of diving straight into payments, paid a lot less and saved up an emergency fund. So I thought this month, I'll pay less, not just miss the payment, stepchange agreed 100 between 7 creditors. I said vet fees- a lie I know but I'm gonna be moving house at some point and I want to have an emergency fund saved. Only one of the creditors, everyday loads, want proof of these vet fees and now I'm scared. Will I get in trouble? I was scared and said I'd send proof and then I panicked and called step change and they said I don't have to and I'm so bleeping scared. I want this nightmare to be over. I was feeling positive about it but now I am not please any advice would be amazing thank you in advance x

StopIt

Rebeccadougherty wrote: »

Hi all
I've read a lot of this thread and it's fab so sorry if a repeat of something that's been asked.

This would be my third DMP payment coming up- 466.00. I've been reading the thread and found out I could have, instead of diving straight into payments, paid a lot less and saved up an emergency fund. So I thought this month, I'll pay less, not just miss the payment, stepchange agreed 100 between 7 creditors. I said vet fees- a lie I know but I'm gonna be moving house at some point and I want to have an emergency fund saved. Only one of the creditors, everyday loads, want proof of these vet fees and now I'm scared. Will I get in trouble? I was scared and said I'd send proof and then I panicked and called step change and they said I don't have to and I'm so bleeping scared. I want this nightmare to be over. I was feeling positive about it but now I am not please any advice would be amazing thank you in advance x

1: You don't need to engage with Everyday Loans at all. If they don't like it, let them sell the debt on.


2: StepChange are there to help and as a DMP is an informal arrangement, they're not going to be mad that you need an emergency fund. In Fact you're being pro-active and they know that if you don't have one, you'll be calling them at some point because the boiler/cooker/car/cat has exploded. Honesty is the best policy with them as lies just end up catching you out.


Your creditors will have to take it or leave it in terms of lower payments for a while, and tell them that anything they do say can go via SC.

Rebeccadougherty

Hi and thanks for your reply

I only wanted to reduce this months as it would give me nearly one month wage emergency fund once I next get paid. It's too late now- I've told the lie and don't know how to get out of it. All the other creditors didn't ask for proof but everyday loans did at this point i just wanna die I don't know how to deal with this I'm scared to tell my boyfriend the thing is as well I've seen it mentioned in here stepchange don't look kindly on reducing payment to save an emergency fund. At some point my cats will need to go to the vet anyway I think I didn't give myself enough wiggle room in the DMP but now I'm scared to permanently reduce it as everyday loans are very difficult they are now wanting proof of this vet fee. Should I just get the payment back to what it should be and struggle to save? I wish I didn't get into this problem

sourcrates wrote: »

Hi,

No you should be ok.

The balances will change anyway, as not all of your creditors may stop interest straight away.

Each creditor will reduce your balance accordingly as payments are received, and you can ask for a statement of your remaining balance at any time.

Rebeccadougherty

Sorry I don't know why I've quoted sourceates- my apologies. So new to this and I'm finding this site hard to navigate

[Deleted User]

Rebeccadougherty wrote: »

Sorry I don't know why I've quoted sourceates- my apologies. So new to this and I'm finding this site hard to navigate

:hello:Rebecca and welcome to DMP-land. Please keep posting and asking any questions you want. It is confusing at the start but we've all been in the same boat and are more than happy to help. Good Luck
.

Firstly, please stop worrying. Take a deep breath and relax:beer:.


I have no experience of Everyday Loans so can't offer any advice on them but if they are anything like other creditors they may try contacting you by phone. Don't worry about this, it's par for the course with some companies in the early days. You don't need to worry about this at all and certainly don't need to get involved in long conversations with them which might get you flustered. Just calmly tell them you are on a DMP with Stepchange who are dealing with your debts for you and leave it at that.


Another thought, if it's only the one reduced payment (the July one) you want I can't see why they are being so heavy about it. Your next payment (presumably the August one) will be at the normal amount anyway and they'll probably just stop hassling you.


You really don't need to worry about telling a fib to these people, a lot of people do it at some time or another. Nothing terrible happens, no-one comes round with a lie-detector machine;).

Rebeccadougherty

Hi
They say it's because it was only recently that they "re-jigged" as they put it, my payment for the DMP. And I get that but nobody told be to leave it for a few months so I'd have an emergency fund and I read on here to "invent" an emergency as it were. I was going to do it for two months but I decided to go for one and just this one month of reduced payment is already causing hassle And I can't give them proof if this vet fee so surely I will get in trouble?

Rebeccadougherty

Also thank you for your advice I currently have a glass of wine. Still can't stop worrying though aha x Thank you so so much to everyone I would be even more lost without this thread x

sourcrates

Rebeccadougherty wrote: »

Hi
They say it's because it was only recently that they "re-jigged" as they put it, my payment for the DMP. And I get that but nobody told be to leave it for a few months so I'd have an emergency fund and I read on here to "invent" an emergency as it were. I was going to do it for two months but I decided to go for one and just this one month of reduced payment is already causing hassle And I can't give them proof if this vet fee so surely I will get in trouble?

Hi,

First off Rebecca you are under no obligation at all to do anything a creditor asks you too.

Yes it's nice to keep then onside, so to speak, but if your priorities start clashing with theirs, then it's time to excerice your standard rights.

You are in a business relationship, it's not personal, if they get funny, then all that will happen is they will sell on the debt.

You do what's best for you, the creditors will have to fall into line.

Leanneglos1

Hi, has anyone had any dealings with progressive money at all when going on a dmp?