DMP Mutual Support Thread - Part 12

Onebrokelady

the-mrs wrote: »

Just tried tweaking it tonight, SC deemed the new budget not suitable for DMP and recommended bankruptcy instead, which may cost me my job. Damn.

Did you do thisusing the debt remedy tool,I did that and it told me the bankruptcy was my on,y option so I panicked and phoned SC and spoke to an actual person who advised a DMP, if you haven't phone them I would advise that you do rather than use the debt remedy tool on the website

Onebrokelady

I got a letter yesterday about my NatWest CC saying it will now be manages by Westcot,I've just read here that they don't buy debts only manage them but does this mean it will be defaulted or not, NatWest are my only creditor who have not defaulted me yet and are still charging me late fees and interest

sourcrates

Onebrokelady wrote: »

I got a letter yesterday about my NatWest CC saying it will now be manages by Westcot,I've just read here that they don't buy debts only manage them but does this mean it will be defaulted or not, NatWest are my only creditor who have not defaulted me yet and are still charging me late fees and interest

That’s up to NatWest, complain to them if they are dragging there feet, be a bee in there bonnet, keep on complaining to them until they agree to default you.

Slytherin

I thought I could start paying my DMP in August but that was just the option to set up my direct debit. I'm not in the position to start making payments now as I based my budget from that date (when my financial position will be different).

I don't want my DMP to close down so I'm planning on changing the budget and making a muuuuch smaller manual payment. Does that sound reasonable? It would be only be for May, June and July.

I'm concerned they'll look at my budget now and think it's a bit shifty but I've basically got myself in a bit of a jam.

Slytherin

Will they laugh at me if my proposed payment budget goes down to £120 from £360? It's a steep difference, I know. Why isn't it August yet?!

July257

Hi I'm a newbie,
I have been reading all of your great advice and have filled in the budget list with sc, opened a new bank acc but haven't stopped direct debits to my cc yet, still feel nervous about this bit as i haven't missed a payment yet. Started a ef had some luck with a old Halifax acc they owed me some money!!!9786; any more advice would be greatly appreciated.

sourcrates

July257 wrote: »

Hi I'm a newbie,
I have been reading all of your great advice and have filled in the budget list with sc, opened a new bank acc but haven't stopped direct debits to my cc yet,

Hi,

Cancel all automatic payments, otherwise what’s the point ?

You either do a DMP or you don’t, so it’s your choice, but if your going to go down the DMP route, you need to do it correctly, you cannot say one thing yet still continue normal payments, it will not work.

Go with stepchange, and write and tell all your creditors you are doing so, stop all payments, save an EF, and good luck with it.

January2015

Onebrokelady wrote: »

I got a letter yesterday about my NatWest CC saying it will now be manages by Westcot,I've just read here that they don't buy debts only manage them but does this mean it will be defaulted or not, NatWest are my only creditor who have not defaulted me yet and are still charging me late fees and interest

Nat West passed my account to Wescot for management, but they still defaulted it within 6 months of my starting my DMP. No problems

January2015

Quick update - CCAs applied for in Summer 2016 - compliant responses just received That's the final two CCAs done now, so only one of mine was unenforceable. Hey ho, it was definitely worth checking and some took ages to respond (almost 2 years), whilst others were quite quick.

My advice is - if you have asked for your CCA and they have not sent anything through.... don't chase them and don't pay them until they do. I've had a good 18 months of not paying these 2 debts. Admittedly I now have to start paying them, but they didn't chase me during those 18 months because they knew they were not compliant.

DevDog

Hello,

I have a problem with debt, I have previously been made bankrupt but managed to run up debts again circa 15k
My wife has found out and this is causing a problem with our relationship, but she has helped by taking a loan to consolidate the high interest rates and repay the debt.

What I need is support to never do this again, I felt like the only way out was suicide, I feel worthless and like I must change to feel in charge of my life again.

I hoe you can help.