DMP Mutual Support Thread - Part 12

Julie67

Hi again, ok so I've answered some of my own questions. Been back and read through the first 10 pages of the thread so far!
Im going to contact our biggest creditor, Cabot and challenge the default date on my OH credit file get it changed to 2013 same as mine as its the same debt.
I now understand that 6 yrs after the date of the default it will drop off our credit file so that's clear.
Im just not sure about a couple of CC's of my husbands that are just not showing at all on his noddle report? is this unusual and will they be added on at a later date, don't want them affecting us in the future when everything is clear.
In the mean time I'm going to have a busy week writing to all the creditors informing them of the now self managed dmp and letting SC know. Then I will get the standing orders set up for the token payments. One of the main things is build up an emergency fund. We are both self employed , so i think this is really important and would give me peace of mind.

sourcrates

Julie67 wrote: »

.
Im just not sure about a couple of CC's of my husbands that are just not showing at all on his noddle report? is this unusual and will they be added on at a later date, don't want them affecting us in the future when everything is clear.

Have you checked the other two credit reference agencies ?

Creditors can use any one, or more of the three agencies in the UK.

They should be showing on at least one of them, unless the account has already dropped off his files.

Twins

Julie67 wrote: »

Hi again, ok so I've answered some of my own questions. Been back and read through the first 10 pages of the thread so far!
Im going to contact our biggest creditor, Cabot and challenge the default date on my OH credit file get it changed to 2013 same as mine as its the same debt.
I now understand that 6 yrs after the date of the default it will drop off our credit file so that's clear.
Im just not sure about a couple of CC's of my husbands that are just not showing at all on his noddle report? is this unusual and will they be added on at a later date, don't want them affecting us in the future when everything is clear.
In the mean time I'm going to have a busy week writing to all the creditors informing them of the now self managed dmp and letting SC know. Then I will get the standing orders set up for the token payments. One of the main things is build up an emergency fund. We are both self employed , so i think this is really important and would give me peace of mind.

Julie, you sound like you're in a very similar position to me. I too have decided to go self managed and sent off my letter to SC today to inform them :T

I also wrote to PRA group asking them to correct the default dates ... well the fact they haven't defaulted me which is the issue. So I've asked them to put a default to August 2011 when I was 3 months into my DMP and they'd agreed the payments. Not sure how this will go but fingers crossed.

I'm hoping to offer F&F's going forward but in the meantime I like the idea of being able to manage my own payments.

Good luck! Let us know how you get on

Former_StepChange_Linsi

Hi Vaper

I hope you don’t mind but I saw your post and wanted to offer a bit of reassurance. It sounds like you’re well on your way to getting everything organised, so well done.

Letting your creditors know about your problems for the first time can be really daunting, but just remember you’re not doing anything wrong.

Creditors have a responsibility to treat you fairly and support you when you’re in financial difficulties. As well as cancelling your direct debits you may also want to give your creditors a quick call to let them know you’re setting up a solution with us.

When you do this they’ll usually agree to put your account on hold for 30 days. This will give us plenty of time to process the paperwork you’ve sent to us and set your plan up.

If you have any questions or need any advice about your DMP, there’s a useful section on our website for existing clients or there’s a number in your application pack you can call us on.

I hope this makes you feel a bit better and best of luck with your DMP.

Linsi

vaper wrote: »

I've just sent the form off to Stepchange.
Apparently it's going to take 9 years and one month to pay back!

Oh well, it is what it is.
We have new bank accounts set up, no cards yet even though I've had an email saying it's ready to use. I think I'll spend the rest of today changing all the direct debits over to the new account, and look into closing down the current account we already have, hubby has given a letter to his employers for the wages to go into the new one so that should start next week and I can do mine online today. I have to go into the Co-op bank today to empty the account and put it into the new account too.
Then for the frightening part - to cancel future direct debits to our credit card providers, I'm dreading doing it cos that's the first they will be aware of any problems.
Then I will be joining you all on the journey.
Don't mind admitting I am totally bricking it!!!!!!!!!!

determinedtobedebtfree_2

Hi


I have finally received a reply email from Savvy, a payday loan lender who is the only creditor still hounding me for payments. They said quote: "Unfortunately your offer of repayment from step change has been rejected as you have not yet paid 3 full contractual payments on your loan, where we will never refuse a payment we are unable to set up a formal payment arrangement and our normal collections procedure will continue.) I didn't make 3 full contractual payments with them as they were my last blip in my payday loan cycle before I grabbed the bull by the horns and went to Stepchange.

They go on to say "£50 that is noted under sports and hobbies is too excessive based on financial difficulty guidelines."


Any advice anyone?

sourcrates

determinedtobedebtfree wrote: »

Hi


I have finally received a reply email from Savvy, a payday loan lender who is the only creditor still hounding me for payments. They said quote: "Unfortunately your offer of repayment from step change has been rejected as you have not yet paid 3 full contractual payments on your loan, where we will never refuse a payment we are unable to set up a formal payment arrangement and our normal collections procedure will continue.) I didn't make 3 full contractual payments with them as they were my last blip in my payday loan cycle before I grabbed the bull by the horns and went to Stepchange.

They go on to say "£50 that is noted under sports and hobbies is too excessive based on financial difficulty guidelines."


Any advice anyone?

Makes no difference if they accept it or not, they may keep charging you interest, so it may take longer to clear, but they wont refuse your payment, just keep on doing what your doing.

determinedtobedebtfree_2

sourcrates wrote: »

Makes no difference if they accept it or not, they may keep charging you interest, so it may take longer to clear, but they wont refuse your payment, just keep on doing what your doing.

Thank you. Bit disheartening that I won't be able to reduce that debt much if it's just growing each month but I'll just keep at it.

I felt such relief at the start of the DMP, and now that I'm in my 3rd month I'm just feeling impatient that I'm not able to pay everything off sooner. I'm getting an annual £2.5k payrise from September which after tax is a £166 month so I think I'm just going to put that all on DMP and get it paid quicker.

sourcrates

determinedtobedebtfree wrote: »

Thank you. Bit disheartening that I won't be able to reduce that debt much if it's just growing each month but I'll just keep at it.

I felt such relief at the start of the DMP, and now that I'm in my 3rd month I'm just feeling impatient that I'm not able to pay everything off sooner. I'm getting an annual £2.5k payrise from September which after tax is a £166 month so I think I'm just going to put that all on DMP and get it paid quicker.

There`s no reason you cant keep bombarding them with requests to stop/reduce interest though, make yourself a real pain in there side, and they may change their mind.

determinedtobedebtfree_2

sourcrates wrote: »

There`s no reason you cant keep bombarding them with requests to stop/reduce interest though, make yourself a real pain in there side, and they may change their mind.

Thanks for your help. Are requests acceptable by email or should I post them a letter?

sourcrates

determinedtobedebtfree wrote: »

Thanks for your help. Are requests acceptable by email or should I post them a letter?

Letters have more clout.

Explain to them why you need the sports and hobbies at £50 a month, how they contribute to your well being, your mental health etc.

Remind them that under FSA regulations, creditors are expected to treat debtors fairly, by continuing to add interest, this is just prolonging the time it will take to repay your debt to them.