DMP Mutual Support Thread - Part 12

Akelly

Just hoping for a little advice. I think I'm going to have to do my DMP self managed.

I've been doing overtime past few months and cleared some other debts off... Yey! However Step change are going to take this overtime in consideration.

I've wrote letters to my companies I owe money too with a financial statement showing my outgoings and I goings and waiting to hear back.

Shall I wait to see if they agree to these conditions I've wrote about or do I just bite the bullet and go with step change. I don't want it to come to next month and have loads of letters and calls etc. I'm in such a worry atm. Can anyone help with advice.

julies123

Akelly, im going to go with sepchange, going to go through it all this weekend.

Think I will feel happier with just one payment to them each month rather than trying to manage what goes where etc, ive spent so much time juggling everything I just think it will be easier. I'm thinking this may keep the communication levels down, as like you dont want too much of.

If any body could advise :-) will I get defaults within a few months of going with sepchange or am I better sending smaller token or no payments for a few months to get accounts defaulted quicker and then start with stepchange.?
:-)

julies123

sourcrates wrote: »

Who exactly do you think would be knocking on your door ?

There are currently 4.1 million people in the UK who are struggling with debt repayment, do you really expect debt collectors to be able to knock on the doors of 4.1 million people ?

No of course not, that is why the letter and the telephone are the DCA weapons of choice, some companies still do use self employed collection agents, but the number is decreasing, and their use is normally restricted to inner city areas where they can visit lots of clients in a short space of time, as they are only paid on results.

It is important to remember these collection agents, have no more rights or powers, than you or I have, its just a fancy name for a money collector, they may be more aggressive in their approach, because they rely on you to pay them, so that they get paid, if you do not pay, they do not get paid, so if one does call, simply tell them to go away, as you will not speak to them, if they are persistent, call the police, or filming them, and uploading to YouTube seems to work well.

Thanks for reply, I realise im over thinking this, just so worried that this would happen. :-)

EmergencyNurse

julies123 wrote: »

Akelly, im going to go with sepchange, going to go through it all this weekend.

Think I will feel happier with just one payment to them each month rather than trying to manage what goes where etc, ive spent so much time juggling everything I just think it will be easier. I'm thinking this may keep the communication levels down, as like you dont want too much of.

If any body could advise :-) will I get defaults within a few months of going with sepchange or am I better sending smaller token or no payments for a few months to get accounts defaulted quicker and then start with stepchange.?
:-)

Hi Julies123 - I'm just starting out with SC. One payment does seem to make things so much easier. My first payment starts in May. Like you, I worry about bailiffs knocking at the door its a natural conclusion to make in my opinion otherwise I've been paying bills all these years for nothing. I'm going with SC so that they can help prevent this kind of scenario.
The only advice I can give is to speak directly with SC about defaults and small or token payments then get them to email the advice given to you.

defected

Help!

I am just starting out on the dmp journey. Made a plan offer token payments, and cancelled all my DDs that are due next month. However I had a coop loan due tomorrow (career development loan if that makes a difference) I have emailed them with a token payment offer, advised them of stepchange ref and asked them to cancel the SO (cant do it from my end)

They have replied and asked me to call the financial support team urgently to 'work out a solution' whilst i am sorting out my DMP with stepchange....

What do I do? i dont really want to speak to them, no doubt they will be wanting to convince me to make higher payments.

thanks

usedtobeblue

reply to the email and advise you are currently working it out with SC and they will be in touch in near future.

usedtobeblue

ps, have you changed your bank account to one that is not associated to you creditors?

defected

Hi

I havent got everything in order as yet, i have opened a new account ready but not switched it all over, im planning putting off the official dmp for a few months, i only have 1 small debt with who i bank with so i will pay this one for the next month or so until its all switched over. thanks

January2015

defected wrote: »

Help!

I am just starting out on the dmp journey. Made a plan offer token payments, and cancelled all my DDs that are due next month. However I had a coop loan due tomorrow (career development loan if that makes a difference) I have emailed them with a token payment offer, advised them of stepchange ref and asked them to cancel the SO (cant do it from my end)

They have replied and asked me to call the financial support team urgently to 'work out a solution' whilst i am sorting out my DMP with stepchange....

What do I do? i dont really want to speak to them, no doubt they will be wanting to convince me to make higher payments.

thanks

You can cancel SOs. If you can't work out how to do it online, then phone your bank now and ask for help to do. Do not rely on the Co-Op to do it for you.

MA61

Hi all

Firstly apologies if this is posted somewhere obvious and I have missed it. I'm going to try and give a very brief outline of my situation - for me the question is quite short and specific, but a little bit of background is always helpful.

I've been in debt before, about 13 years ago I got a basic account with nationwide, worked with CCCS and went through the hassle with creditors. Worked a charm and for many years after I remained debt free, paying off my small credit card in full each month and knowing the dangers of debt, avoiding things like store cards like the plague.

I got a very well paid job, and saved up a deposit to buy my first home. Unfortunately soon after buying it I was signed off work with stress related illness, ended a 7 year relationship and then my dad became terminally ill and passed away. This corresponded with me going self-employed. A combination of reduced income and depression led me into a debt spiral.

I am now at the point where I know I cannot easily repay the debt and am currently drawing up a budget which shows half my money is being eaten in mortgage, service, charge, council tax etc, so I can't afford to make all the minimum payments.

So my question is - IS THERE A WAY I CAN GO ABOUT DOING ALL OF THIS WITHOUT LOSING MY FLAT? After working my !!!! off and getting ill from it all, that's the last thing I want to happen! EDIT: Oh I should point out that the debts are credit cards and an unsecured personal loan. There is nothing secured on the property, which has approximately £30k equity.

Thanks in advance for your help.