DMP Mutual Support Thread - Part 12

sourcrates

Just_Afloat wrote: »

Is it possible just to do a rate change with your current lender when on a DMP? We are in the process of starting our DMP and our mortgage rate ended this month but we did a rate change and fixed it for 5 years.


I've been on DMP for over 2 years and just done a new fixed deal with my mortgage provider for a further 5 years at 2%. Just had to lie a little...during phone referral to say my financial situation hadn't changed since my previous deal started 3 years earlier :-)

You may want to edit your post perhaps ????

pinkpunto

Hi, does anyone have any experience with loans which put upfront interest. I’ve sent off for my DMP pack from StepChange but on the creditor details I have entered the total amount with interest as this is what’s on my credit file. I’m not sure what amount I should have entered and how it works with upfront interest loans. Does anyone have any experience on how they are handled. Thanks.

atlinford

Hello All,

I’m due to make my first payment this month on my DMP (£272) however I’ve been away training with work meaning I’ve had to pay for my hotel and food (£300). I’ve put my expenses in with work but it can take a couple of weeks to be reimbursed.
This will leave me short for a couple of weeks for food and fuel and is making me worry slightly. Am I best talking to SC or should I just bite the bullet and hope I can pull through?

I don’t want it to seem like I’m not taking th DMP seriously by missing delaying my first payment, but I did the whole process immediately not giving myself any time to make a emergency fund and the thought of not having any credit as a back up is quite scary.

Thanks in advance for any replies

sourcrates

atlinford wrote: »

I don’t want it to seem like I’m not taking th DMP seriously by missing delaying my first payment, but I did the whole process immediately not giving myself any time to make a emergency fund and the thought of not having any credit as a back up is quite scary.

Thanks in advance for any replies

Ugh, big mistake, you must have a good emergency fund set up.

Inform stepchange you want to wait another month before starting payments, do not skint yourself, that's not what a DMP is all about at all.

Just explain whats happened.

Your creditors wont bat an eyelid, make the call.

Dandytf

Unpleasent suprise recently.
Since co op eventually changed my account to link.

I Have 2 defaults applied.
1 June 15
1 Aug 17
That explains my drastic reduced report lately.

All SC DMP payments are upto date and details were reported to Sc on change from co op to link.

CP2016

Have you asked to have the defaults backdated? My Next account wasn't defaulted until last November even though my DMP commenced in 2012 like yours. I asked them to backdate it to when the contractual arrangement broke down and they changed it to January 2012 - it will be the first of my defaults to drop off with the rest of them following during 2018. There's a letter on this thread somewhere (think it might be January2015's) you could use. Also - this is two debts? a debt can only be defaulted once.

Dandytf

CP2016 wrote: »

Have you asked to have the defaults backdated? My Next account wasn't defaulted until last November even though my DMP commenced in 2012 like yours. I asked them to backdate it to when the contractual arrangement broke down and they changed it to January 2012 - it will be the first of my defaults to drop off with the rest of them following during 2018. There's a letter on this thread somewhere (think it might be January2015's) you could use. Also - this is two debts? a debt can only be defaulted once.

Thanks I have read various posts since 2012 advising only 1 default should be applied.
What I have done earlier is raised a concern via checkmyfile, though I could maybe try via Equifax/clearscore.
As I have MS I’m hoping I can find CRA to raise the concern to co op or link.
This is the 1 and only example of 2 defaults I\ve ever experienced, though I did wonder why my Experien score went from a few hundred to 0 past few weeks.
Thanks for your advice, I’ll post update when I hear from checkmyfile or maybe find time to call step change or ombudsman
This is one overdrafy debt only, I suspect when co op started to refuse dmp payments for a few months earlier this year, then when link picked up the last few hundred link have placed default as missed payments which it wasn’t i.e. looks like link have applied default immediatley when account on checkmyfile cra.
I’vre since raised this concern via ombudsman -only tonight online.

Dandytf

Wasn’t expecting initial reply from checkmyfile today.
Excellent all requested details passed showing 2 defaults for 427 co op balance.
I’ll update as always to get a proper answer.
Thanks mser’s

IWILLgetthere

Hello everyone, I have been reading this thread over the past week and was wondering if I could please join?
My total debt is £11,800 approx (cc's and a loan) and as I have slipped behind on payments am finding it hard to keep up and everything is spiralling out of control - very scary times!!
I went on the Stepchange website and filled out a budgeting form with them - they advised me to set up DMP and I have just sat and handwritten (can't afford printer ink!) 6 letters to my creditors offering them a proportionate monthly amount from my available funds (eek) - some get £1.60 up to some getting £20.80.I have paid them all their amount online today. I have done it myself rather than getting Stepchange to do it for 2 reasons.... firstly, whenever I have some extra cash (getting a lift to work instead of bus, ebay, survey money etc) I'd like to pay it to creditors and secondly, I have not included my Next & Littlewoods when writing letters - I know a lot of people are going to say that is a bad move but the payments to them are small and manageable and I REALLY need to keep those accounts open as they are my only lifeline when I need school shoes/coats, new fridge etc .
I will be posting my letters off tomorrow and hoping for a good outcome but am INCREDIBLY SCARED .
Does anyone have any words of wisdom and/or comfort they can offer??

IWILLgetthere

... what I'm really worried about is that I'm just going to get more letters telling me that I'm behind on my payments, followed by default notices, followed by people knocking on my door and my children asking what's going on! (feel such a failure to them )