DMP Mutual Support Thread - Part 12

Akelly

Eh?!

Lol so hold on. How in earth can you only pay a pound? Is that on a DMP?

Like just how?!?! Are companies not hassling you

EmergencyNurse

Akelly wrote: »

Eh?!

Lol so hold on. How in earth can you only pay a pound? Is that on a DMP?

Like just how?!?! Are companies not hassling you

I'd like to know the answer too!

January2015

Akelly wrote: »

Eh?!

Lol so hold on. How in earth can you only pay a pound? Is that on a DMP?

Like just how?!?! Are companies not hassling you

EmergencyNurse wrote: »

I'd like to know the answer too!

You just do

I've been paying token £1 payments for almost 18 months now. Make the I&E fit what you want to pay. Circumstances change so your I&E is not a fixed beast.

I have never once been asked for evidence and even if I was I wouldn't send it.

Alternatively leave your I&E as it is stands and have an 'emergency', e.g. boiler breakdown, car repair/purchase.

Edit: forgot to say, no hassle from companies at all. In fact they write and acknowledge my offer and advise they will review in 6 or 12 months.

Akelly

Sorry I'm not understand what a I E is.

So what you've wrote to your creditors advise your going threw financial difficulties and you can only afford to pay a pound?

To not contact u by telephone and only by post.

Surely after some time they would be contacting you asking for more. Are you not getting letters with bills etc? X

I'm proper shocked! X

January2015

Akelly wrote: »

Sorry I'm not understand what a I E is.

So what you've wrote to your creditors advise your going threw financial difficulties and you can only afford to pay a pound?

To not contact u by telephone and only by post.

Surely after some time they would be contacting you asking for more. Are you not getting letters with bills etc? X

I'm proper shocked! X

I&E is income and expenditure statement. It shows creditors what income you have, what priority debts you have, and what you can afford to pay towards non priority debts.

My circumstances changed, I wrote and told them. That meant reduced payments. I can't pay what I don't have (or what creditors think I don't have)

I wrote to creditors and advised them all contact is to be by letter. No telephone calls allowed. They have to honour this as long as you keep in communication with them.

Seriously - no more questions from creditors, no 'bills', no threats, just letters thanking me for updating them and advising they accept my offer and will review in 6 (sometimes 12) months.

sourcrates

Akelly wrote: »

Sorry I'm not understand what a I E is.

So what you've wrote to your creditors advise your going threw financial difficulties and you can only afford to pay a pound?

To not contact u by telephone and only by post.

Surely after some time they would be contacting you asking for more. Are you not getting letters with bills etc? X

I'm proper shocked! X

No, because what you do not realise, what most people do not realise, is that unsecured credit debts, are all non priority payments.

Your rent or mortgage, council tax and utilities are all essential payments, so come first in line, if there is anything left, then that goes to the non essential payments such as credit debts.

This has always been the case, but lenders did not always follow the rules, however after the regulator intervened, making the rules clearer, that affordability is key, lenders have had to fall into line.

Akelly

So what's the bets advice on this then. Do it yourself threw debt camel with the letters. Or do it via Step change?


I'm just worried about courts and people knocking on my door. My credit rating I'm not bothered about anymore.

System

Two of my debts have disappeared from my credit report...

1) MBNA- quite a recent debt, total of £3500 ish CC. So far been defaulted and paying £1 pm for the last 2 months.

2) NEXT account- 2013 ish £2,000. I!!!8217;ve asked for a CCA and they returned postal order, acted dumb and said Brecon there in house debt collectors would take over the account. I!!!8217;ve said to Brecon I!!!8217;ll pay £1 PM when I get the CCA. I had letters from their to set up payment but I!!!8217;ve not responded as no CCA yet from next.

So.. does this mean they have been bought from a debt buyer? I!!!8217;m really hoping this is the case as we have started saving for partial settlements and I would love to get MBNA out of the way!

Akelly

Looking at debt camel and the financial statement. Where do I input how much in currently paying out in debt? Cause right now it looks like I have 600 to live off. I definitely don't.

Could anyone help?

angela1976

I have had to reduced my payment via stepchange to £50 this month instead of the usual £650.00 due to my boiler packing in, stepchange we!!!8217;re fine as this is the first reduction in 3 years however I!!!8217;m panicing as to how my creditors will react will they start chasing or will they have had my next months full payment by the time they realise ?? Any advice would be grateful thanks