DMP Mutual Support Thread - Part 12

danibee2k

Hi all,

Quick question about a joint DMP. My partner is self-employed and we've done a budget through National Debtline but I can't seem to do a joint DMP through Stepchange. Does she need to go through Business Debtline to deal with it? Will we need to do separate DMPs?
I'm wondering if we may be better off going self-managed.

Standingtall

Hi All and hello especially to anyone just starting on their DMP and thinking it will never end

I started my DMP in 2012 and thought I would be paying it until retirement. I was sensible and left myself enough money to live a little. 6 years later and I have been able to join the Debt Free roll of honour thread. Wow!! It was easy and hard in equal measures. PayPlan were phenomenal - no issues at all. My creditors also behaved themselves in general too.

The hardest part is probably that you become a second class citizen when you lose your credit worthiness - at least that is how it feels at times. I cannot lie - it it hard. With that in mind I would advise people to try and snowball their debts if possible and only go into a DMP if there is no option. Having said all that, I would rather do a DMP than be using one credit card to pay another which is what I was doing. I remember that sinking feeling when I could not sleep.

For me the DMP possibly saved my life as I was quickly falling towards depression. Once started I was able to sleep again at nights and not be snapping at my kids.

To summarise I cannot praise PayPlan highly enough and a DMP was my saviour.

Good luck everyone starting out. If you are at the point I describe above then get advice quickly x the quicker you deal with it the quicker you can breathe again xx

julies123

Major wobble this morning.
Letter from nationwide saying they are going to send someone round within 28 days!,
This is really want I dont want as my other half knows nothing about my debt and it needs to stay that way!
I called them and told them visitors are not welcome, oft rules etc. and I also have a payment plan set up that I have being paying so why do they need to send someone round!
Its my current account that has an overdraft and she said it is because of interest being added.
Anyway managed to get the interest stopped and promised me know one will be coming to visit!!

I also have two loans with these, she also looked at these and said the payments at the moment are fine but will be reviewed in 6 months!.

I also have a credit card with nationwide which Is on the plan, just looked on line and they have been adding late charges and interest, so think I will call them next (as different department from loans and account) before they decide to send someone round !

I am managing a few creditors on my own and some are with stepchange, really finding it a bit time consuming!,

On another note, creation have asked for payslips for proof of income which I have sent, not heard back from them since.

And also Hitachi finance, I sent offers of payment letter in July and sent the first payment last week, I have heard nothing back from these since June when I first contacted them, no letters nothing! not sure if this is normal? anyone else dealing with Hitachi?

Had a little cry when I came of the phone to Nationwide :-( feeling a bit low.
Time for a cup of tea now!

Willing2Learn

julies123 wrote: »

Major wobble this morning.
Letter from nationwide saying they are going to send someone round within 28 days!,
This is really want I dont want as my other half knows nothing about my debt and it needs to stay that way!
I called them and told them visitors are not welcome, oft rules etc. and I also have a payment plan set up that I have being paying so why do they need to send someone round!
Its my current account that has an overdraft and she said it is because of interest being added.
Anyway managed to get the interest stopped and promised me know one will be coming to visit!!

I also have two loans with these, she also looked at these and said the payments at the moment are fine but will be reviewed in 6 months!.

I also have a credit card with nationwide which Is on the plan, just looked on line and they have been adding late charges and interest, so think I will call them next (as different department from loans and account) before they decide to send someone round !...

...Had a little cry when I came of the phone to Nationwide :-( feeling a bit low.
Time for a cup of tea now!

Well done for not sticking your head in the sand. If I was you, I would also write to Nationwide, to confirm that you only consent to written communication, and do not consent to door-step visits, phone calls, texts or anything else. Remind them of the rules in writing etc.

Good luck!

julies123

good idea, think I will thank you

julies123

With Hitachi, any experts out there recommend what I should do, shall I just carry on making payments, or do you think I should contact them?
x

Steff90

Sazzie23 thank you so much for replying - really appreciate it.:T
I have already set up my letters to send to my creditors asking them to hold my account until I get some breathing space - not sending them just yet though.
I have opened a new bank account today so that this is ready to go when things start to go south for want of a better phrase:rotfl:
With regards to getting an emergency fund in place, what would you say is the best way to do this?
Do I cancel my current direct debits with my creditors & being to default and use this money to put aside to start my EF? I don't have any "extra" money to set aside for an EF hence why I'm in this predicament :eek:

I know by doing this it will affect my credit rating but that's going to happen anyway...
Any advice going forward is appreciated

Willing2Learn

julies123 wrote: »

With Hitachi, any experts out there recommend what I should do, shall I just carry on making payments, or do you think I should contact them?
x

I would just continue with payments that you offered in your original letter. I'd also be tempted to write again, with the same offer, just to make sure it had been received. You can get proof of posting from a Post Office.

Steff90

Thank you so much for that! Really appreciate you taking the time to give me some advice.
I have replied to Sazzie - basically asking if I should stop paying my creditors now in order to put away an EF? I have letters set up to send to my credits to ask for this 30 day grace period however I was holding off until I speak to Payplan on Thursday.
What do you suggest?? thanks again :beer:

Willing2Learn

@Steff90 - Yes, if you have sent the letters to your creditors to 'hold action' while you get professional debt counselling advice. In the meantime, cancel your direct debits and any CPAs you may have, and yes, use the money to build an emergency fund. Most people seem to delay their DMP start date by three months to allow 90 days to build up the EF.