DMP Mutual Support Thread - Part 12

LadyMorticia

January2015 wrote: »

Well done Lady M - I'm so pleased for you. The end of your debt tunnel is so close now

Thank you. I'm surprised that alot of my creditors have been quite accommodating to be honest, especially one of my Lowell accounts which was over £5000! x

sourcrates wrote: »

My experience with any of the catalogue companies has always been the same, as awkward as they possibly can be.

I just didn’t pay them a thing until the account defaulted, went through their own internal debt collectors, and was then eventually sold on to Lowell.

I then dealt with Lowell who were much more accommodating.

It’s not the course of action for everyone, you could go down the complaints route, but I doubt they will suddenly grow a conscience.

I agree. Lowell are so much easier to deal with. Very and Littlewoods aren't very accommodating or supportive, to be honest.

sourcrates

NewbieNat wrote: »

Thanks for your reply. I've been reading about very and their aggressive ways. I think I would prefer to deal with DCA. I need at least 3 months of saving for my EM. So, if I don't pay anything for 3 months before my DMP, that means the debt will increase massively? I felt so positive yesterday & now am completely deflated

I look at it like this, if very add charges etc, so be it.

If a company such As Lowell buy it, after a while, they will start sending settlement offers, usually a discount ranging from 10 to 50%, which they let you pay over time, so that tends to offset anything the catalogue company add to the debt.

EmergencyNurse

sourcrates wrote: »

I look at it like this, if very add charges etc, so be it.

If a company such As Lowell buy it, after a while, they will start sending settlement offers, usually a discount ranging from 10 to 50%, which they let you pay over time, so that tends to offset anything the catalogue company add to the debt.

Thats good to know. I was thinking about paying all my BNPL off.

NewbieNat

EmergencyNurse wrote: »

Thats good to know. I was thinking about paying all my BNPL off.

I was thinking of making my usual payment to keep them away for a month. It's so annoying they will only allow 1 week on hold, when all the others do 30 days. They might then think I can carry on paying it though. I can only pay it because I'm not paying my other creditors

EmergencyNurse

NewbieNat wrote: »

I was thinking of making my usual payment to keep them away for a month. It's so annoying they will only allow 1 week on hold, when all the others do 30 days. They might then think I can carry on paying it though. I can only pay it because I'm not paying my other creditors

Yes its hard to get out of that mindset. I've been reading their T&C's, extortionate. I haven't approached any creditors yet, they'll be the last on the list. I need to phone SC for a plan!

selinek

selinek wrote: »

I had an account with Barclays who didn’t default even though I was paying reduced amount through step change from 2008. They sold the debt onto Link many years later. The account was paid off last year and is now closed but still showing on my credit report. I am going to write to Barclays stating they Have penalised me for paying my debts and request them to remove A/R from acct.
I would be interested to know how you get on with yours. I will post an update for other member who might be in the same boat.

diasypop ploppy57
I had a letter from BC confirming that they will be removing all traces of the account from my CR. Checked Noddle has gone from and made a big difference to my CR.:j How did you get on ?

System

selinek wrote: »

diasypop ploppy57
I had a letter from BC confirming that they will be removing all traces of the account from my CR. Checked Noddle has gone from and made a big difference to my CR.:j How did you get on ?

Ooh that's interesting. Well done.:T Ours were all defaulted before being sold to L*nk. So I am imagining they will stay on the CF for the 6 years. Still waiting to hear from L*nk regarding CCA requests. Wrote on 31 Jan and not even had an acknowledgement, despite a second letter to check it they had received it.

Onebrokelady

NewbieNat wrote: »

I was thinking of making my usual payment to keep them away for a month. It's so annoying they will only allow 1 week on hold, when all the others do 30 days. They might then think I can carry on paying it though. I can only pay it because I'm not paying my other creditors

Is the 30 day period not a law then,I would make a complaint to the financial ombudsman

January2015

EmergencyNurse wrote: »

Have I got this right?

1. I send my DMP forms off only once my salary is in my new bank account? I didn't, I just sent my forms straight back to SC, but with hindsight it makes sense to wait for your salary to hit the new bank account
2. Stop paying all non priority debts and put that money in an emergency fund OR reduce higher interest BNPL? (Littlewoods) Definitely When I started my DMP I chucked every spare penny at Very BNPL ..... horrible, horrible creditor to deal with. I manage to clear all my BNPL before the interest would have kicked in, but it did impact on the amount of emergency fund I was able to stash away.
3. Wait and send all creditor letters once SC informs me of the amounts they are going to distribute to each creditor following the template letter in Application Pack? I didn't write to any of my creditors - I let SC do that for me. I did, initially, phone my creditors and advise I was seeking support from SC, ask them to freeze interest and charges and advise they would be hearing from SC shortly.... that was it for me.

And Finally...
Once the DMP is up and running does my old bank account get closed automatically? Do you have any debts associated with your old bank account, e.g. overdraft? If you do,
you cannot close it. If you don't, then it will only be closed if you contact the bank to close it.

See my answers in red :beer:

Summer12

Wobble moment - auto reply from AAD no one around for 2 weeks to look at returned CCA replies, no account details from Nationwide for my new account so no movement on transferring dd. OH payroll can!!!8217;t make changes to pay until actual hard copy received in the post. Should have started all this ages ago. Feeling panicky and sick just want it to stop now.