DMP Mutual Support Thread - Part 12

OohSoHolly

DMP_Tiger wrote: »

When I asked Stepchange if I could delay the start of my DMP for about 5 months to build up an EF they just said that it was fine but I would have to deal with my creditors until I was ready to begin the plan. In the meantime they are happy for me to use their name and my SC ref number. If I have any problems or queries I can call them so although I am kind of on my own at the moment, SC are there if I need them.

That would probably drive me into more anxiety as the letters than have appeared recently have already brought anx and palpitations!

I just wonder what is reasonable? I know I owe the money and I don’t forget that but just feel if I don’t save regularly I’ll be constantly worrying and won’t get out of this situation.

Billy12345

Hi all


I have a DRO query and was hoping someone here could help.


I have a DMP which is ticking along nicely however my wife's has her own debts for which she is seeking a DRO. She has no income as she looks after the kids and we have decided to go down the DRO route with the help of SC.


SC have gone through everything but have to check to see whether she is a beneficiary of our house. The mortgage is solely in my name but obviously we are married so she would have rights to the property. SC are checking with their insolvency practitioners but, following the criteria for a DRO, this shouldn't make a difference as all the bills are in my name, the house is in my name so on paper she has no asset.


I'm a tad confused by this and SC appear to be taking ages to answer this query.

*Sable*

Still getting calls today from MBNA, who seem to be ignoring my letter asking for contact only in writing. I've been not answering calls while I waited for the letter to filter to whoever needs to see it, but they're not giving up. Think I'll have to bite the bullet and answer the next one, and have them put a note on the account.

Puzzcat

OohSoHolly wrote: »

Wonder if anyone can help? I’m currently in the process of setting up my DMP with stepchange and in conversations with them. I‘ve asked if I can save £135 for emergencies (or further debt pay off) but they have emailed me saying that this is too high and to provide a comment as the creditors may not except this?
Is this an unreasonable amount?

I will be looking at repaying £160 PCM off my debts however my biggest concern is that I have Zero savings and have no contingency if something breaks/emergency at home etc. My contingency was credit in the past. Can anyone please advise?

OohSoHolly wrote: »

That would probably drive me into more anxiety as the letters than have appeared recently have already brought anx and palpitations!

I just wonder what is reasonable? I know I owe the money and I don’t forget that but just feel if I don’t save regularly I’ll be constantly worrying and won’t get out of this situation.

Hi,

If you don't want to delay the start of your dmp then what you need to do is inflate your budget in areas such as pets/smoking/insurances etc and then save the money that your not really spending on these things for your emergency fund.

Puzz. x

OohSoHolly

Puzzcat wrote: »

Hi,

If you don't want to delay the start of your dmp then what you need to do is inflate your budget in areas such as pets/smoking/insurances etc and then save the money that your not really spending on these things for your emergency fund.

Puzz. x

Genius :D Thank You - I was in my mind wondering that. Going to sit down tomorrow morning and reassign some funds. Think I need to be a bit more realistic in some areas anyway. Would anyone recommend a reasonable figure to aim for in emergencies/sundries?

sourcrates

OohSoHolly wrote: »

That would probably drive me into more anxiety as the letters than have appeared recently have already brought anx and palpitations!

I just wonder what is reasonable? I know I owe the money and I don!!!8217;t forget that but just feel if I don!!!8217;t save regularly I!!!8217;ll be constantly worrying and won!!!8217;t get out of this situation.

They are just a series of computer generated template letters specifically designed to get you to contact them in a panic.

Thats there sole purpose, in terms of importance they mean absolutely nothing, contact us or we may take further action, ow scary, they may write to me again or worse, ring me.

Seriously some of the wording is laughable, the only letter to take any notice of is a pre-action letter, all else is just dribble.

Get your fund saved and dont give em a second thought.

OohSoHolly

Thanks Guys. I’ve said it before and I’ll say it again your support and help is so appreciated.

lean55

Hi All, i have been on my DMP for over a year now and in my panic to start paying my debts back i went into it with no money saved!! don't get me wrong it has been the best thing i could have done i made it through Christmas for the first time ever only using my overtime money and it felt great but since Christmas i have had large and unexpected bills every month(vets, ongoing boiler repairs, car) the list is endless and i am now living on my nerves worrying about what else will go wrong. my budget is very tight and i don't have the cash to pay for these things. i did call SC to try to reduce payments to save some money but they said it would be best to miss a payment if anything happens, the problem with this is if anything goes wrong after the 1st payment has been taken and i am stuck with no money again. Will i have to go it alone ?

Nikkidoodle

I recently contacted step change at the end of April and set up a dmp and I have paid my first installment. Previously I had never missed a payment but was finding it difficult to pay and was unable to continue to pa especially as my intrest rate rose from 28% to 49% However, since swapping to the plan I am receiving at least 8_10 calls a day from my debtors, and charged late payment charges which have taken me over my credit limit, so then charged again for going over my credit limit!..... So at the moment feel things are getting worse not better! As the intrest is still being added on as well as the extra charges!.... Any advice gratefully received!

Puzzcat

Nikkidoodle wrote: »

I recently contacted step change at the end of April and set up a dmp and I have paid my first installment. Previously I had never missed a payment but was finding it difficult to pay and was unable to continue to pa especially as my intrest rate rose from 28% to 49% However, since swapping to the plan I am receiving at least 8_10 calls a day from my debtors, and charged late payment charges which have taken me over my credit limit, so then charged again for going over my credit limit!..... So at the moment feel things are getting worse not better! As the intrest is still being added on as well as the extra charges!.... Any advice gratefully received!

Hi
Have you written to them and asked them to freeze the interest? They don't have to but usually do.
Puzz