DMP Mutual Support Thread - Part 12

Puzzcat

Hello.....

This thread is very quiet... it's not normally a whole 24 hours with no posts..hopefully that means everyone is happy and plodding along..!!

Nothing exciting to report from me apart from a currently unenforceable cca.... let's hope they never find the paperwork as its just over 4K which is approximately 10% of my outstanding debt...I have filed the paperwork for now...

DMP still plodding along, very slowly as I am only paying less than a 1/4 of what I use too due to buying a university/rented house for my dd.... well it feels like I am buying them..:rotfl:

All creditors appear well behaved at the moment. although I do tell them off if they are naughty...:D

Keep on plodding...and enjoy the bank holiday weekend..

Love Puzz. x

Dandytf

Thanks Puzz

My sc dump is taking a few years extra than 1st agreed since 2012.

Though part time work means lower payments, there are sometimes reasons beyond personal finances to consider.

Think I’ve got co op and hbos re added since they were only 2 payments which were rejected for a few months whilst they decided which company the small balance were being passed to.

Positive news -at least 2 debts should finish this year! - a small step though medium term past 5 yrs approx.

Largest debt is 1345 approx.

What a difference since 2012, part there in reducing debts, a while to go term wise.

I’m sticking to updating my total balance on a yearly basis -don’t want to think ahead too much.

sourcrates

Puzzcat wrote: »

Hello.....

This thread is very quiet... it's not normally a whole 24 hours with no posts..hopefully that means everyone is happy and plodding along..!!

Nothing exciting to report from me apart from a currently unenforceable cca.... let's hope they never find the paperwork as its just over 4K which is approximately 10% of my outstanding debt...I have filed the paperwork for now...

DMP still plodding along, very slowly as I am only paying less than a 1/4 of what I use too due to buying a university/rented house for my dd.... well it feels like I am buying them..:rotfl:

All creditors appear well behaved at the moment. although I do tell them off if they are naughty...:D

Keep on plodding...and enjoy the bank holiday weekend..

Love Puzz. x

Bank holiday puzz

Money worries are on hold lol !!

Sazzie23

It's my birthday weekend, I've been out every night (not spending loads) and I'm loving it, sorry to anyone having a tough time, financially or otherwise. Hang on in there, it can get better.

So much happier than last year.

Headspinning_2

Hi everyone

I am new to this forum and have been reading back over the last few months posts. It is was reassuring there are so many people in my shoes.
I am currently on a DMP with SC. I started this back in march when I realised I couldn't make the minimum payments and was living in credit the whole time. I have kept this from my partner but have confided in my mum. I
have made 5 payments to cover 7 creditors. These are HSBC, a loan, CC and over draft. The largest amount of around £12000
Also a CC with barclaycard and Aqua now Link, around £5000
Then smaller amounts with Very now and Next pay both around £600 each.
After reading this forum I have realised I have maybe done it all wrong in that I jumped in to huge monthly payments with SC to pay it off quickly which I am struggling to maintain. I have no Emergency funds and the HSBC and barclaycard have still not defaulted. Is this because I have still been substantial payments?
I am thinking of going self managed now as I just have no flexibility and no money to do anything. I work full time and do lots of overtime but still struggling with the huge SC payments of £1000.
I am thinking of paying Link, very and next each month of about £50 each.
What you you all recommend I do with HSBC and BC? Send them a letter informing them I am stopping with SC and self managing and Stop paying and wait for them to default or send a £1 token payment?

I would have have known you can self manage with all your insiping posts. I'll be very grateful for your suggestions.
Thanks

davestones

I am surprised at how efficiently my DMP with StepChange is ticking along.

I started making payments in May and since then Natwest, RBS and Barclaycard have all defaulted me (Barclaycard I was surprised at the speed of, given some other stories I have read here). Worth noting that up until the DMP I had not missed a payment on any of my debts.

In addition to this Natwest, RBS and Halifax have entrusted Wescot to manage my DMP so I don't ever envisage any issues or contact with them until my debts are fully paid off.

All of the rest of my debts are currently sat as green dots, some "OK", some "UC" and some "AP" markers. Quite content with this at the moment given how long I expect to be on my DMP but if these don't start ticking down to defaults in the next 6 months or so I will start writing letters. My monthly payments are £220, feels good to have already paid £1000 off. Only another £36000 to go...

sile001

Hi

I'm in the fortunate (and unexpected) position of being able to clear my DMP with StepChange. It's currently at c£12k. Clearing it would leave me with a surplus of around £10k.

What I was wondering - would it be worth asking SC to negotiate a F & F settlement with my creditors (6 in all)?

Any thoughts?

Thanks

fatbelly

sile001 wrote: »

Hi

I'm in the fortunate (and unexpected) position of being able to clear my DMP with StepChange. It's currently at c£12k. Clearing it would leave me with a surplus of around £10k.

What I was wondering - would it be worth asking SC to negotiate a F & F settlement with my creditors (6 in all)?

Any thoughts?

Thanks

Definitely. The other option is that you do your own negotiating.

sile001

Thanks

I'll probably ask SC to do it as I suspect they're in a better position to do so

vaper

sile001 wrote: »

Thanks

I'll probably ask SC to do it as I suspect they're in a better position to do so

I honestly don't think stepchange will negotiate a better deal than you could get yourself. They will probably just settle for any amount offered. You need to try this yourself. What have you got to lose?