DMP Mutual Support Thread - Part 12

heavenlyharry01

Well done Motivated! Definitely living up to your name!

Such great advice on here, really keeps up my confidence too!

I actually wrote to NCO and have asked for a default to be registered, I cheekily asked for a complete write off too. I have spoken to them today and they are requesting a default, and the write off! Although I'm not holding much hope for that!
I've also written to MBNA asking for the same! If you don't ask you won't get!!

motivated

heavenlyharry01 wrote: »

Well done Motivated! Definitely living up to your name!

Such great advice on here, really keeps up my confidence too!

I actually wrote to NCO and have asked for a default to be registered, I cheekily asked for a complete write off too. I have spoken to them today and they are requesting a default, and the write off! Although I'm not holding much hope for that!
I've also written to MBNA asking for the same! If you don't ask you won't get!!

Thanks HH

Good luck with your defaults etc. Like you say don't ask don't get. If I don't get defaults etc I too will be writing to/bugging my creditors

I am still reading up on the NEDCAB site about things you can do. I've learnt so much already.

I have now sent all creditors and SC letters explaining that we will now be self managing. I have informed them they will be receiving £1.00 token payments for at least 4 months. Longer if necessary.

I sent them recorded but I'm not sure it makes much difference but it's for my peace of mind that I know they've got them. I will sit back and wait for the postman and see what joys he will bring me.
I'll be ready and waiting to tackle it all head on :T
M

leanne12345

Hi there,

I wonder if anyone can help, I have been reading this thread since deciding to enter into a DMP with Stepchange at the start of April but don't seem to be able to find an answer.

I jumped in head first when I first found out about Stepchange and I now realise I should have waited a few months to build up an emergency fund and get the accounts to default but hey ho we live and learn.
My question now is whether it is possible to drop to token payments for 3 or 4 months through Stepchange so that I can possibly build up a small fund?
I have searched the Stepchange website but can't find an answer.

Many thanks

lumpyspaceprincess

sourcrates wrote: »

Hi,

If you follow this link to the debt camel website it tells you everything you need to know about defaults, including how to get them backdated :

https://debtcamel.co.uk/tag/defaults/

Thanks for that sourcrates, I've drafted a letter to send off to the DCA this week. The only setback I can see is that all other creditors defaulted me, and the original company this loan was with Hitachi didn't. Cabot took it on and waited 12 months to default, it should have been hitachi who defaulted me before they sold it I think. We'll see what the result is!

sourcrates

leanne12345 wrote: »

Hi there,

I wonder if anyone can help, I have been reading this thread since deciding to enter into a DMP with Stepchange at the start of April but don't seem to be able to find an answer.

I jumped in head first when I first found out about Stepchange and I now realise I should have waited a few months to build up an emergency fund and get the accounts to default but hey ho we live and learn.
My question now is whether it is possible to drop to token payments for 3 or 4 months through Stepchange so that I can possibly build up a small fund?
I have searched the Stepchange website but can't find an answer.

Many thanks

Hi,

What do you want to do ?

Do you want to drop to token payments ?

If yes, then do so, don't look for approval, you decide not them.

You simply inform them that's what you want to do, then do it.

Ok ?

leanne12345

sourcrates wrote: »

Hi,

What do you want to do ?

Do you want to drop to token payments ?

If yes, then do so, don't look for approval, you decide not them.

You simply inform them that's what you want to do, then do it.

Ok ?

Ok, I didn't realise I could have that kind of control with Stepchange. Thanks for the reply

[Deleted User]

leanne12345 wrote: »

Ok, I didn't realise I could have that kind of control with Stepchange. Thanks for the reply

Hi leanne:)

For once I can't agree with the advice that sourcrates gave you. Sorry, sourcrates:o


A lot of people decide to self-manage their own DMP because it gives them more flexibility than they would have when using one of the management charities like Stepchange. I am now just starting being self-managed after 4 years of being with Stepchange. I agree with sourcrates in that when dealing with creditors yourself you can just tell them what you plan to do but when Stepchange are handling your debts the situation is different.


I needed to drop to token payments for about 3 months a couple of years ago but after looking on my Stepchange account page I saw that they mentioned that people should contact them if they were having problems maintaining payments.


I telephoned SC, explained the situation to them (this was for essential emergencies and I too had no emergency fund built up before diving into my DMP:o) and they were so helpful and understanding. I had to go over my budget with them again to see if any tweaks could be made elsewhere (advising me that I wasn't claiming enough in some of the budget catagories) and they adjusted the total to take account of the large amount I had said I'd need to cover my current emergencies. They then contacted my creditors with details and I never had to have a single contact with my individual creditors:j. I paid each creditor £5 a month during that time, down from almost £180 a month in the case of a couple of my creditors. I think £5 is the lowest SC will sanction.


I'm sure that is the way to do it when on a Stepchange DMP, not to just stop paying your regular monthly DD to them and pay the minimum. If, as I expect, they will be totally understanding and helpful, they will probably suggest 3 or 4 months for this. After that you will be asked to contact them again to reset your budget before they will reinstate your earlier payment schedule. If you merely drastically adjust your monthly DD to Stepchange yourself I'm pretty sure they'll contact you asking you to phone them to discuss things and redo your budget.


I would advise very strongly that you don't tell them that you want the extra funds to build up an emergency fund/force defaults. I have heard of others who told them this and they were pretty uncooperative:(. My emergency was genuine but I know others say they need the money for major repairs (home/car/boiler etc) or massive vet bills;)

Keep us posted

Good Luck:beer:


One word of warning though, they don't like you doing this more than once! If you feel you are going to have to drop to tokens for a very extended period of time, or have to resort to this again maybe another year down the line, they will question whether a DMP is the right option for you. In that case, you can always go self-managed:j

leanne12345

carbootcrazy wrote: »

Hi leanne:)

For once I can't agree with the advice that sourcrates gave you. Sorry, sourcrates:o


A lot of people decide to self-manage their own DMP because it gives them more flexibility than they would have when using one of the management charities like Stepchange. I am now just starting being self-managed after 4 years of being with Stepchange. I agree with sourcrates in that when dealing with creditors yourself you can just tell them what you plan to do but when Stepchange are handling your debts the situation is different.


I needed to drop to token payments for about 3 months a couple of years ago but after looking on my Stepchange account page I saw that they mentioned that people should contact them if they were having problems maintaining payments.


I telephoned SC, explained the situation to them (this was for essential emergencies and I too had no emergency fund built up before diving into my DMP:o) and they were so helpful and understanding. I had to go over my budget with them again to see if any tweaks could be made elsewhere (advising me that I wasn't claiming enough in some of the budget catagories) and they adjusted the total to take account of the large amount I had said I'd need to cover my current emergencies. They then contacted my creditors with details and I never had to have a single contact with my individual creditors:j. I paid each creditor £5 a month during that time, down from almost £180 a month in the case of a couple of my creditors. I think £5 is the lowest SC will sanction.


I'm sure that is the way to do it when on a Stepchange DMP, not to just stop paying your regular monthly DD to them and pay the minimum. If, as I expect, they will be totally understanding and helpful, they will probably suggest 3 or 4 months for this. After that you will be asked to contact them again to reset your budget before they will reinstate your earlier payment schedule. If you merely drastically adjust your monthly DD to Stepchange yourself I'm pretty sure they'll contact you asking you to phone them to discuss things and redo your budget.


I would advise very strongly that you don't tell them that you want the extra funds to build up an emergency fund/force defaults. I have heard of others who told them this and they were pretty uncooperative:(. My emergency was genuine but I know others say they need the money for major repairs (home/car/boiler etc) or massive vet bills;)

Keep us posted

Good Luck:beer:


One word of warning though, they don't like you doing this more than once! If you feel you are going to have to drop to tokens for a very extended period of time, or have to resort to this again maybe another year down the line, they will question whether a DMP is the right option for you. In that case, you can always go self-managed:j

Hi, thank you for that information it is always useful to hear other people's experiences I completely understand what you are saying about giving Stepchange a proper reason and you have certainly given me a lot to think about.

After reading through everyone's posts I have been thinking a lot about going self managed but for me one of the best things about Stepchange is that it's one single monthly payment and I don't have to deal with our 20 creditors :eek:

Hmmm I don't really know what to do for the best anymore :huh: Maybe I will leave it for a few months and see how it all goes as I don't really have a reason to drop to token payments at the moment. Thanks again

motivated

leanne12345 wrote: »

Hi, thank you for that information it is always useful to hear other people's experiences I completely understand what you are saying about giving Stepchange a proper reason and you have certainly given me a lot to think about.

After reading through everyone's posts I have been thinking a lot about going self managed but for me one of the best things about Stepchange is that it's one single monthly payment and I don't have to deal with our 20 creditors :eek:

Hmmm I don't really know what to do for the best anymore :huh: Maybe I will leave it for a few months and see how it all goes as I don't really have a reason to drop to token payments at the moment. Thanks again

Hi Leanne

I have been with SC for only 3 months and made 2 payments, I have 6 debts with 3 creditors and I have decided to go self managed purely so I can be in control and have some flexibility. I was anxious about dealing with creditors myself but the urge to be in control took over and I went for it. I did all my letters etc on NEDCAB and it saves all of your details and debts etc so you can log in an adjust things as you wish.
It even generated a letter to SC explaining what we are doing.

Now I am dropping to token payments for as long as I need to. I just added to the letters that I had unexpected car repair and vet bills
Good luck
M

leanne12345

motivated wrote: »

Hi Leanne

I have been with SC for only 3 months and made 2 payments, I have 6 debts with 3 creditors and I have decided to go self managed purely so I can be in control and have some flexibility. I was anxious about dealing with creditors myself but the urge to be in control took over and I went for it. I did all my letters etc on NEDCAB and it saves all of your details and debts etc so you can log in an adjust things as you wish.
It even generated a letter to SC explaining what we are doing.

Now I am dropping to token payments for as long as I need to. I just added to the letters that I had unexpected car repair and vet bills
Good luck
M

Thanks Motivated. I have just taken a look at the NEDCAB website and can see that it would be simple if I did want to go self managed.
A lot of Sunday thinking for me I think!