DMP Mutual Support Thread - Part 12

kram

January2015 wrote: »

Hello everyone - hope you are all keeping well.

No updates from me, but just to let you all know that I am going in with another round of F&Fs this week. I am seriously hoping to be debt free in the next few months..... well one can but dream

Good luck with the offers. ;)

Steff90

I actually meant I've taken an account with Bank of Scotland! Not RBS :rotfl:
Do you know who BOS are affiliated with by any chance?

Willing2Learn

BoS are part of the same group as Halifax and Lloyds.

chew82

Hi all, I've recently started a DMP self managed after being with StepChange for a year. I received an email from one of my creditors today stating the following:

"We have received your letter via post. We are reaching out via email because we are unable to write you back. We would like to assist in getting you set up with an affordable arrangement, to do so we will require a few additional details. Please provide us with additional information in regards to your monthly income and expenses so that we can set up an affordable arrangement."

Now, am I to believe that this is not entirely true and they are telling me porkies? As I have sent them a letter stating all correspondence to be in writing only, I assume they think they can get away with an email? Should I respond to the email and tell them I will only reply in future to post? I've already sent a statement of earnings and my proposed repayments.

Any help appreciated

Steff90

So...
Just got off an hour phone call with Payplan going through all my income/expenditure/debt.
That was quite a stress for me! It's not nice telling someone all your information but it's a start.
The girl on the phone told me she doesn't recommend a DMP and recommends a DAS - which is basically for peace of mind where all creditors will have their interest and charges frozen however these companies do charge a fee.
Now I'm stuck! I've told her to give me a week to think it over but I'm feeling set back again because a DMP was what I thought would be recommended.:mad:
Just looking for thoughts. I still can go ahead with a DMP but because she's said she doesn't recommend it it's made me wary :eek:
Another thing...can I ask Payplan when they call me back (regardless of what I choose) if I can start either the DMP or DAS in around 3 months time?
I want to get money put away while not paying any of my creditors.
God I feel like my head is mush! Only got myself to blame but I'm hoping someone can point me in the right direction and as usual thank you to anyone who can give me advice.
Just want to get the ball rolling these sleepless nights are taking their toll!! :eek:

sourcrates

Steff90 wrote: »

So...
Just got off an hour phone call with Payplan going through all my income/expenditure/debt.
That was quite a stress for me! It's not nice telling someone all your information but it's a start.
The girl on the phone told me she doesn't recommend a DMP and recommends a DAS - which is basically for peace of mind where all creditors will have their interest and charges frozen however these companies do charge a fee.
Now I'm stuck! I've told her to give me a week to think it over but I'm feeling set back again because a DMP was what I thought would be recommended.:mad:
Just looking for thoughts. I still can go ahead with a DMP but because she's said she doesn't recommend it it's made me wary :eek:
Another thing...can I ask Payplan when they call me back (regardless of what I choose) if I can start either the DMP or DAS in around 3 months time?
I want to get money put away while not paying any of my creditors.
God I feel like my head is mush! Only got myself to blame but I'm hoping someone can point me in the right direction and as usual thank you to anyone who can give me advice.
Just want to get the ball rolling these sleepless nights are taking their toll!! :eek:

Hi,


A DAS is similar to a DMP but its exclusive to Scotland and is actually a better choice.

You get all interest and charges stopped, plus you get legal protection from your creditors.

Its essentially a regulated debt management plan, which would be just what we need south of the border as well.


You dont pay a fee in a DAS, these are Bourne by your creditors.

Steff90

Sourcrates - thank you! I breathed a sigh of relief when I read your comment!
The DAS won't go through Payplan as she said they'll need to refer me onto someone who deals with DAS.
Am I still able to tell whoever I deal with for the DAS that I don't want to start the plan until 3 months or so?

Willing2Learn

StepChange will do a DAS for you!

https://www.stepchange.org/how-we-help/debt-arrangement-scheme.aspx

Don't forget to delay the official DAS start date so that you can build up your emergency fund.

Willing2Learn

SirLurkalot wrote: »

...Around 3 of my payments being made to creditors are higher than the minimum payments we were making before.

Am I right in thinking that due to this, our accounts won’t be defaulted as we’re making the contractual payments? In this case will these accounts never show as ‘bad’ on my credit file, or will the stay on my file for six years after they have been settled? I’m unsure wether or not to go self managed and pay token payments until these accounts are in arrears, or keep going through StepChange and see what happens...

Is your credit file marked with an Arrangement to Pay marker on those three accounts or have they been marked in arrears? What do your credit files say?

chew82 wrote: »

Hi all, I've recently started a DMP self managed after being with StepChange for a year. I received an email from one of my creditors today stating the following:

"We have received your letter via post. We are reaching out via email because we are unable to write you back. We would like to assist in getting you set up with an affordable arrangement, to do so we will require a few additional details. Please provide us with additional information in regards to your monthly income and expenses so that we can set up an affordable arrangement."

Now, am I to believe that this is not entirely true and they are telling me porkies? As I have sent them a letter stating all correspondence to be in writing only, I assume they think they can get away with an email? Should I respond to the email and tell them I will only reply in future to post? I've already sent a statement of earnings and my proposed repayments.

If it was me, I would reply in writing, by post, reiterating that you only consent to written communication by post. Confirm in the letter that all other forms of communication, including email, have not got your consent.

Steff90

Willing2learn I've just had a look on there I think I'll get some advice from Stepchange too regarding this.
Payplan have sent me all my income and expenditure sheets through and the lady is going to call me next week to see what I want to do with regards to going ahead with a DMP or a DAS but it's looking likely it'll be a DAS now I've read into it and had some replies on this!
I did read they take a 10% fee (not step change - the debt management companies). Do you know if all companies take a fee or would some do it fee free?