DMP Mutual Support Thread - Part 12

Onebrokelady

Hopeforthefuture wrote: »

So I have been manually transferring all priority DD's to my new account and from next month they should all be going out the new way so pleased about that.
The trouble is, I keep logging on to my current account and wanting to cancel the DD's to my creditors but keep bottling it...is this common reaction to taking this step towards starting a DMP? Did anyone else feel like this? What am I scared of-after reading countless posts I know what to expect next and have already prepared myself for many phone calls and letters. Is it sensible to wait until each CC or loan payment next goes out and then cancel from there or just bite the bullet and do them all in one foul sweep? Any advice much appreciated x

I felt the same way,it went against everything my nature to cancel those DDs as I have never defaulted on a payment for anything in my life but in the end I knew it had to be done so I put on my big girl pants and I just did it, When I started this process I was literally shaking every time I had to do something,but I read everyone's advice on here and then went and did the big scary things they were telling me to do and do you no what...... nothing bad has happened :T.....I feel so relieved now it's unbelievable,I was soooooo stressed out but now I feel calm and in control of my finances for the first time ever, be brave and do it you will be ok

julies123

Morning everyone,
Hope you all had a stress free weekend!
just incase anyone is needing to open a bank account quickly, last night I opened a halifax account. You cant open a basic account directly you have to apply for a current account, then if they dont want to give you a current account, says they will then offer you a basic account.

They let me have a current account, took about 5 minutes to open and gave me the account number and sort code straight away. :-)

Is there a link somewhere with letter templates?, I cant seem to find it.

one of my debts is nationwide, I have two loans with them 1 with balance of £2000 and the other £3000, had them for 6 years with one year left to go, both payments add up to £380 a month.
I was thinking as I have read some negative things about nationwide going ccj's etc, so to avoid that hassle, I may write to them offering them a settlement for the loans, i have already paid them back more than I borrowed :-( . suppose I can only try. Has any one had any experience with Nationwide.. I also have my account with them with overdraft and a credit card. :-(

[Deleted User]

julies123 wrote: »

Morning everyone,
Hope you all had a stress free weekend!
just incase anyone is needing to open a bank account quickly, last night I opened a halifax account. You cant open a basic account directly you have to apply for a current account, then if they dont want to give you a current account, says they will then offer you a basic account.

They let me have a current account, took about 5 minutes to open and gave me the account number and sort code straight away. :-)

Is there a link somewhere with letter templates?, I cant seem to find it.

one of my debts is nationwide, I have two loans with them 1 with balance of £2000 and the other £3000, had them for 6 years with one year left to go, both payments add up to £380 a month.
I was thinking as I have read some negative things about nationwide going ccj's etc, so to avoid that hassle, I may write to them offering them a settlement for the loans, i have already paid them back more than I borrowed :-( . suppose I can only try. Has any one had any experience with Nationwide.. I also have my account with them with overdraft and a credit card. :-(

Congratulations on getting a full bank account:j

I'm sorry to hear Nationwide is seen as a bit of a baddie as in my experience they have been brilliant. Totally helpful and understanding. Always very quick to sort out any minor account issues. I haven't had any CCJs though, just the basic bank account that I opened when I started my DMP. I also now have a few small savings accounts with them too. Can't praise them enough for the basic banking services that I have but maybe they only play hardball when it comes to outstanding debts.

Suseka97

ploppy57 wrote: »

Going to be coming into a few £££ soon via an old pension of Hubby's. He says we need another car....which we do as ours will probably not last much longer than a year or 2. We can then have our EF, which I want at 2K. So the rest will go in the F&F pot....but do we negotiate a couple now or play the long waiting game? I'm thinking wait a bit, would every body agree?

That's a good piece of news :j
I guess it depends on where you are with your payments (noting you've just gone SM). From what I've read people have had better results with F&Fs after CCAs and dropping payments down to the minimum/tokens or nothing at all. Also better when accounts are being handled by DCAs.
If it were me I'd hold off for a bit and play the long game.

January2015

ploppy57 wrote: »

Going to be coming into a few £££ soon via an old pension of Hubby's. He says we need another car....which we do as ours will probably not last much longer than a year or 2. We can then have our EF, which I want at 2K. So the rest will go in the F&F pot....but do we negotiate a couple now or play the long waiting game? I'm thinking wait a bit, would every body agree?

Play the long game

System

Thanks Jan and Suseka, :)that was my thinking really. They are all with DCA's and all defaulted , except for the old Debenhams one, which will be paid off in a couple of months anyway as only owe less than £200. PR* have already classed 3 as currently UE and L*NK have failed to respond to our CCA requests for 3 accounts, over 2 months ago now, so we have dropped payments to nothing and see if they contact us.
If you had told me 3 years ago that I would be not paying some of my debts I would have had heart failure at the thought....just shows how good a DMP is.:T

EmergencyNurse

Phase one of my DMP journey has started. First wage in my new overdraft free account today. Priority bills ALL sorted...and i'm not having to plan when to rob Peter to pay Paul. Only one more £66 payment to catalogue next month before the DMP officially starts without worrying about the BNPL extortion racket kicking in in December. That monstrosity will be paid of with DMP by then. It appears they were happy to accept reduced payments as my statement says to keep to the agreed payment plan...I wonder why!! Barclayloan have already sent a Notice to Default and the account isn't even in arrears yet. It's all good stuff.

Another new basic bank account sorted but this time with full internet banking. It's way too much effort to physically have to go to a bank to set up, amend standing orders, DD. Ain't nobody got time for that!

It's the happiest I've been on a payday since 2003!

[Deleted User]

EmergencyNurse wrote: »

Phase one of my DMP journey has started. First wage in my new overdraft free account today. Priority bills ALL sorted...and i'm not having to plan when to rob Peter to pay Paul. Only one more £66 payment to catalogue next month before the DMP officially starts without worrying about the BNPL extortion racket kicking in in December. That monstrosity will be paid of with DMP by then. It appears they were happy to accept reduced payments as my statement says to keep to the agreed payment plan...I wonder why!! Barclayloan have already sent a Notice to Default and the account isn't even in arrears yet. It's all good stuff.

Another new basic bank account sorted but this time with full internet banking. It's way too much effort to physically have to go to a bank to set up, amend standing orders, DD. Ain't nobody got time for that!

It's the happiest I've been on a payday since 2003!

What a lovely, upbeat post, EmergencyNurse:beer:. Well done:T

Just a few points about Default Notices.. Creditors often send several letters of the 'unless you pay the full amount owed we may default you....' type. It doesn't necessarily mean they will, it's just to scare us:eek:. We all know better though and defaulting is the best thing they can do:j. Maybe yours is of the 'we are definitely going to default you on such and such date....' type of letter though which means they are really going to do it. As you say your account isn't in arrears yet is seems a bit quick for them to send one of those! Best for you to check the wording and not to assume they are definitely going to default you just because they've threatened it. They can send these frighteners for months:eek:. I could wallpaper my cloakroom with mine:rotfl:. Just ignore them if they do.

NewbieNat

I'm on my way to starting my SC DMP. I have a new basic account which is up and running. I have contacted my creditors and have 2 weeks left of the 30 day hold. I will send them my SC I & E forms. However I can't start it for 6 months for EF. I just am really worried the creditors will not accept this. I have car bills to budget for. What are they able to do if they refuse my offer of token payments for the 6 month period? One CC creditor, although being told I am speaking to SC to start my DMP, has sent me their own I & E form. I was feeling fairly calm about it all, but now am all of a panic! Barclaycard have already said they will default if I don't arrange a payment plan. A good thing, but seems to go against all I have read about them on here.

EmergencyNurse

NewbieNat wrote: »

I'm on my way to starting my SC DMP. I have a new basic account which is up and running. I have contacted my creditors and have 2 weeks left of the 30 day hold. I will send them my SC I & E forms. However I can't start it for 6 months for EF. I just am really worried the creditors will not accept this. I have car bills to budget for. What are they able to do if they refuse my offer of token payments for the 6 month period? One CC creditor, although being told I am speaking to SC to start my DMP, has sent me their own I & E form. I was feeling fairly calm about it all, but now am all of a panic! Barclaycard have already said they will default if I don't arrange a payment plan. A good thing, but seems to go against all I have read about them on here.

Hi NewbieNat, I haven't contacted a single creditor. I asked SC if I should because I kept reading that others were. They said they'd do it all and they have. Can't SC sort this for you? Worth an ask.