DMP Mutual Support Thread - Part 12

vaper

Puzzcat wrote: »

You can remortgage with your current provider as they don't credit check. Well nationwide didn't and I think that's the norm.
Puzz

Britannia didn't credit check us either when we remortgaged with them.

purplepaws

January2015 & Everyone else: THANK YOU!

Apologies for being needy (and a bit dim.)

I AM scared.

I'm dealing with this alone as hubby doesn't know, due to his mental health - which is why we're here in the first place. He was a high earner before going off sick and we lived accordingly.
Whilst we have cut back our outgoings by about 50%, I need to maintain the illusion that we are doing ok until he is much better. I've borrowed to keep our family afloat whilst he recovers. The tiniest thing could set him back. (The NHS is not kind when one of their own is ill.)
I'd rather have him alive and me be in debt than tell him all, right now.

I have another post about school fees - which is bound to lose me friends - but school is the one constant that has supported me and my boys throughout Hubby's illness. (Pulling them out of school mid-GCSE & A'levels was not an option.) The fee arrears can has been kicked down the road for as long as possible but it needs dealing with too soon.
I hope that it f I get on top of my personal debt with the DMP, I can stop worrying and get on with tackling the joint debts.

January2015

purplepaws wrote: »

January2015 & Everyone else: THANK YOU!

Apologies for being needy (and a bit dim.)

I AM scared.

I'm dealing with this alone as hubby doesn't know, due to his mental health - which is why we're here in the first place. He was a high earner before going off sick and we lived accordingly.
Whilst we have cut back our outgoings by about 50%, I need to maintain the illusion that we are doing ok until he is much better. I've borrowed to keep our family afloat whilst he recovers. The tiniest thing could set him back. (The NHS is not kind when one of their own is ill.)
I'd rather have him alive and me be in debt than tell him all, right now.

I have another post about school fees - which is bound to lose me friends - but school is the one constant that has supported me and my boys throughout Hubby's illness. (Pulling them out of school mid-GCSE & A'levels was not an option.) The fee arrears can has been kicked down the road for as long as possible but it needs dealing with too soon.
I hope that it f I get on top of my personal debt with the DMP, I can stop worrying and get on with tackling the joint debts.

Hi

Don't ever hesitate to come on this thread and either ask for help, or just chat, or just vent your frustrations. That's what we all do to help each other through. There are many of us going through the DMP process alone and this thread is our link to others who we can talk to and who will understand and support us and not be judgemental in any way.

I, for one, know that I wouldn't have got through without the fantastic support and virtual friendships I've made here. I can honestly that even when I am debt free I feel this will still be a place I visit daily to catch up with my friends :beer:

Rebeccadougherty

Hello everyone
Sorry, me again.
So I posted the other day about lowering my DMP payment through StepChange from 466 to 100 this month. But StepChange have written to me and it looks like they've lowered it until I tell them otherwise. And it's made me think- I would have liked maybe 2-3 months really to build up an emergency fund for the house move that is happening at some point. I felt bad so only said I'd be doing it for 1 month. Everyday loans wanted proof of why I was lowering the payment, because I told them it was due to vet fees- a lie because I just wanted to save a small emergency fund. Would it be ok to keep that lower payment for another few months? Would it be better to phone StepChange and just not bother with the extra few months of lesser payment? I know it'll make my DMP a bit longer which I am ok with if I could have the security of a small emergency fund. It isn't that the 466 is a struggle to pay but the emergency fund is so small. Although I don't really want to have to speak to Everyday Loans again. And I'm also not excited about phoning 7 creditors in general it is so exhausting and worrying. And I don't know how I'd say actually I need to extend the lower payment anyway and the reason why. I also don't want bailiffs or anyone coming to the door. I still havent told my boyfriend and I want to tell him in my own time not have him find out through someone coming to the door
Thanks in advance

vaper

It's been nearly a month now since I wrote to my creditors saying I was going on a DMP with stepchange. Most of them have replied saying that they would give us one month breathing space. I've never heard back from the co-op though so will need to send them a message through the online banking service, I find it hard to believe that they have not had the letters though, everyone else has!
Anyway, I've had a text message today from barclaycard informing me that time is up basically and I need to contact them to arrange payment.
We have decided that we are going to self manage our DMP as I have been reading on here that's what a lot of people end up doing eventually anyway.
Is this the point where I offer £1 token payments or stop payments completely for a while?
A few creditors have sent I & E forms for us to fill in but I haven't done them yet, I feel a bit bothered about them knowing all our financial info and then wanting to dictate what we pay, did everyone have to fill these in when going self managed?
I'm getting a little edgy now as I'm going to have to start speaking to the creditors and am a real wuss with things like that.
I don't know what Sourcrates voice sounds like but I have one in my head which keeps telling me "it's only business". That's my mantra at the moment lol.

motivated

Hi all. I'm still here lurking in the background. Well done to all who have plucked up the courage to start their DMPs.

I decided to go self managed and so far have not paid any creditors for the past 2 months. Hoping they will sell us on. The CCs so far have been quiet but Halifax have written to me stating that if they do not receive payment ASAP they will take steps to recover the money owed. This worries me a little. I have 2 loans with them and they both amount to a lot of money .

What do you think they will do :eek:
M

purplepaws

motivated wrote: »

Hi all. I'm still here lurking in the background. Well done to all who have plucked up the courage to start their DMPs.

I decided to go self managed and so far have not paid any creditors for the past 2 months. Hoping they will sell us on. The CCs so far have been quiet but Halifax have written to me stating that if they do not receive payment ASAP they will take steps to recover the money owed. This worries me a little. I have 2 loans with them and they both amount to a lot of money .

What do you think they will do :eek:
M

Hello Motivated,
I am so naive - when you start a DMP do you literally stop paying the monthly payment and tell them what you can (want to) pay then sit and wait for shouty letters to come through - which you ignore? Sounds too easy? I'm so terrified of breaking the law. There are many posters on that make it sound just that easy. I was hoping that having a DMP managed by Payplan might be simpler but you say that you've gone self managed and not been asked to make payment yet? Aren't you a little bit terrified?!!!??

January2015

motivated wrote: »

Hi all. I'm still here lurking in the background. Well done to all who have plucked up the courage to start their DMPs.

I decided to go self managed and so far have not paid any creditors for the past 2 months. Hoping they will sell us on. The CCs so far have been quiet but Halifax have written to me stating that if they do not receive payment ASAP they will take steps to recover the money owed. This worries me a little. I have 2 loans with them and they both amount to a lot of money .

What do you think they will do :eek:
M

Hi motivated :wave:

Have you sent your creditors an I&E statement? I would write back to Halifax and evidence you cannot afford to make any payments at the moment and that you will keep them informed should your situation change. I would also point out that the decision to enter a DMP was not taken lightly and as such you would request they continue to suspend all fees and charges in order to assist you to deal with your debts. Also request they default your account in a timely manner.

The thing I found is not to ignore the creditors. Don't just sit and wait for letters. Be proactive. Don't pay - but don't ignore them. Let them know you know you are in financial difficulty and that you know they are supposed to support you by playing fair.

:beer:

sourcrates

Just a little note to anyone who is trying to save an emergency fund, before going self managed, and are worried about creditors reactions.

Let's address the very worst scenario first, so you don't pay, what will happen ?

The very worst thing your creditors can do is take you to court and have judgement granted against you, so what exactly does that mean ?

That means you agree an affordable monthly payment with the court, and, as long as you stick to it, that's as far as it will go.

The odds are all in your favour, 99.9% of debts never see a court!!

Debt collection takes a very long time, people think that because they miss one payment, they will be taken to court the next week, not so, in fact nothing could be further from the truth.

Original creditors almost never take action through the courts, they first of all pass your debt to a debt collector to attempt collection, this may go on for a good few months, and may get passed to various different debt collection agencies, for anywhere up to a few years, eventually your debt will be sold, then the game starts again, but this is the point you should either start paying or settle up, as the new owner can and might take court action.

What I am trying to get over to you is that nothing happens quickly were debt collection is concerned, if you stopped paying all your credit tomorrow, it could be 3/4 years before you were faced with the courts.

Debt is a problem these days, but certainly nothing to worry about, it's only money, they can't take what you don't have, there is always a solution, people worry because of stories about intimidation and threats, it's 99% bluff most of the time, there is no reason to be scared.

vaper

sourcrates wrote: »

Just a little note to anyone who is trying to save an emergency fund, before going self managed, and are worried about creditors reactions.

Let's address the very worst scenario first, so you don't pay, what will happen ?

The very worst thing your creditors can do is take you to court and have judgement granted against you, so what exactly does that mean ?

That means you agree an affordable monthly payment with the court, and, as long as you stick to it, that's as far as it will go.

The odds are all in your favour, 99.9% of debts never see a court!!

Debt collection takes a very long time, people think that because they miss one payment, they will be taken to court the next week, not so, in fact nothing could be further from the truth.

Original creditors almost never take action through the courts, they first of all pass your debt to a debt collector to attempt collection, this may go on for a good few months, and may get passed to various different debt collection agencies, for anywhere up to a few years, eventually your debt will be sold, then the game starts again, but this is the point you should either start paying or settle up, as the new owner can and might take court action.

What I am trying to get over to you is that nothing happens quickly were debt collection is concerned, if you stopped paying all your credit tomorrow, it could be 3/4 years before you were faced with the courts.

Debt is a problem these days, but certainly nothing to worry about, it's only money, they can't take what you don't have, there is always a solution, people worry because of stories about intimidation and threats, it's 99% bluff most of the time, there is no reason to be scared.

Thank you Sourcrates, those were exactly the words I needed to hear.:beer::beer: