DMP Mutual Support Thread - Part 12

sourcrates

January2015 wrote: »

Oh it's sunk in :rotfl: As I say, this has been on the cards since early December so it hasn't come as a surprise.

:beer:

You just have to roll with the blows, your a DMP pro now, you know the score very well, I doubt this will faze you.

January2015

sourcrates wrote: »

You just have to roll with the blows, your a DMP pro now, you know the score very well, I doubt this will faze you.

Definitely not fazing me I think I've mentioned before we now have 75% of our unsecured debt balance saved. We could already go for F&Fs but we were playing the long game of token payments to push for settling for as little as possible. All I see from this redundancy is a genuine reason to push the DCAs to settle for less :T

EmergencyNurse

1: DMP forms sent to SC - CHECK

2: Confirmation of bank account -CHECK

3: Contact payroll when new account confirmed - CHECK

4: Start plan in April giving payroll enough notice to change payment to new bank account.

5: Make sure all non priority DD are cancelled - CHECK

6: SC to contact creditors

7: Transfer all priority DD & SO to new account - GETTING THERE

8: Let the DMP do its thing - SOON

9: Enjoy work again - JURY'S OUT

10: Enjoy my life again - CHECK

NewbieNat

I posted recently about one credit card company that will not put my account on a 30 day hold, after informing them of my financial difficulties. They still won't, until I supply them with my I.E. I'm not doing that until I have saved my EF. The positive is that all of my other creditors have. Oh well, so be it. I'm not letting one awkward one stopping my plan. They will get my token payments like the others. Onwards & upwards

January2015

NewbieNat wrote: »

I posted recently about one credit card company that will not put my account on a 30 day hold, after informing them of my financial difficulties. They still won't, until I supply them with my I.E. I'm not doing that until I have saved my EF. The positive is that all of my other creditors have. Oh well, so be it. I'm not letting one awkward one stopping my plan. They will get my token payments like the others. Onwards & upwards

Supply the I&E, get the interest stopped. You are cutting your nose off to spite your face (as the saying goes) if you don't.

The creditor is not being unreasonable asking for the I&E. You can still save for your EF and delay starting the payments to creditors.

NewbieNat

January2015 wrote: »

Supply the I&E, get the interest stopped. You are cutting your nose off to spite your face (as the saying goes) if you don't.

The creditor is not being unreasonable asking for the I&E. You can still save for your EF and delay starting the payments to creditors.

Thanks for your reply. I may well be wrong, but if I supply my I & E that will show that I can afford more than token payments. My plan is too save as much as possible & hopefully be able to make settlement offers further down the line on the smaller debts. Is this not feasible?

System

NewbieNat wrote: »

Thanks for your reply. I may well be wrong, but if I supply my I & E that will show that I can afford more than token payments. My plan is too save as much as possible & hopefully be able to make settlement offers further down the line on the smaller debts. Is this not feasible?

Tweak the I&E to show you cannot afford to pay more....they do not know how much you really need for food, fuel, gas and electric, or even if you smoke or have pets....they will not ask for proof.

NewbieNat

ploppy57 wrote: »

Tweak the I&E to show you cannot afford to pay more....they do not know how much you really need for food, fuel, gas and electric, or even if you smoke or have pets....they will not ask for proof.

Thanks Ploppy. The only I & E I have is the SC one. I don't think anything can be changed on it (they sent back a printed copy). As I intend to go with SC in a few months time,I can't send a different one to the creditors.

January2015

NewbieNat wrote: »

Thanks for your reply. I may well be wrong, but if I supply my I & E that will show that I can afford more than token payments. My plan is too save as much as possible & hopefully be able to make settlement offers further down the line on the smaller debts. Is this not feasible?

It doesn't matter if your I&E shows you can afford more than token payments. Just tell them you can't pay more just yet because the boiler broke, the dog's sick, the car's playing up.... something. That will buy you some breathing space.

The important thing is you are not seen to be ignoring them and by providing the I&E you are more likely to get interest frozen - which is important because otherwise your debt is just increasing.

System

NewbieNat wrote: »

Thanks Ploppy. The only I & E I have is the SC one. I don't think anything can be changed on it (they sent back a printed copy). As I intend to go with SC in a few months time,I can't send a different one to the creditors.

When we went self managed I sent my I & E but then told them I would only pay £1 for the first 6 months as we had unexpected household expenses to sort out. They were all fine with that.