DMP mutual support thread part 13 !!

adz2ka

Hi all,

One quick question.
This is the first month I've cancelled all my direct debits to my credit cards and set up a new bank account (it's funny seeing my full wage go into this account untouched as I build up an emergency fund).
I'm about to begin the process of sending letters to my creditors. There's a sample letter I'll be using is the one on the StepChange website.

Do I say that I will be making reduced token payments for say, 3 months in this letter? And this might be the most stupid question of all, but who do I address the letter to? (i.e do HSBC have a specific department)

[Deleted User]

RVZ wrote: »

Hi,
I had PPI refunded direct to me which was a surprise! Think it was because they had already sold on the debt. Lol:rotfl:

Wow, lucky you:j:beer:

Mine had been sold on too, several years before:(.

sourcrates

adz2ka wrote: »

Hi all,

One quick question.
This is the first month I've called all my direct debits to my credit cards and set up a new bank account (it's funny seeing my full wage go into this account untouched as I build up an emergency fund).
I'm about to begin the process of sending letters to my creditors. There's a sample letter I'll be using is the one on the StepChange website.

Do I say that I will be making reduced token payments for say, 3 months in this letter? And this might be the most stupid question of all, but who do I address the letter to? (i.e do HSBC have a specific department)

Hi,


Personally i would not bother with token payments, they cost a creditor more to process, than the value of the payment in most cases.


Just state your DMP payments will start "in due course" and leave it at that.


Address your letters to the customer services address usually found on statements or on their websites.

[Deleted User]

Hi fellow DMP-ers,

Hope Monday treated us all kindly! :j

I’ve sent off all documentation to StepChange now, set up a new bank account and sent my holding letters. StepChange required a couple of extra things which I sent via email. I am now wondering about timescales... how long was it from initial contact to your first DMP payment please? I think I’m feel anxious waiting to hear knowing that many direct debits are going unpaid and letters/phone calls are spiralling.

Many thanks,

Sophie

Dreamer29

I spoke to SC again who just needed to confirm a few details before they set up the DMP which should now hopefully be up and running in the next few days.
I asked if I could delay my first payment until April as I’ve missed the February pay date so I could just sort out a few direct debits etc ( starting in April would give me a couple of months to build up an emergency fund) but the woman told me that it would be March as it gives me more then enough time to sort out direct debits etc. I’ll now only be able to save a little bit from this months as an emergency fund and am a bit disappointed as the extra month would’ve really given me a good emergency fund.

Suseka97

Dreamer29 wrote: »

I spoke to SC again who just needed to confirm a few details before they set up the DMP which should now hopefully be up and running in the next few days.
I asked if I could delay my first payment until April as I’ve missed the February pay date so I could just sort out a few direct debits etc ( starting in April would give me a couple of months to build up an emergency fund) but the woman told me that it would be March as it gives me more then enough time to sort out direct debits etc. I’ll now only be able to save a little bit from this months as an emergency fund and am a bit disappointed as the extra month would’ve really given me a good emergency fund.

Okay, if it were me I'd go back and say that whilst you appreciate they'd prefer a March start date, you would like it to start in April. Hold your ground, yes - they are helping you get things up and running, but this is your DMP and it should start when you are ready. Insist that you want a reasonable emergency fund available so that if anything unexpected occurs in the short term, you do not have to go back and adjust the DMP. If you don't want to speak to the SC advisor - put it in an email. I've read on here from time to time that people have different experiences with this approach, depending on who the advisor they speak to at that time- some appear to be more flexible than others.

Dreamer29

Thank you Suseka, I will try emailing them and see what they say.
On a much more positive note I got the email today confirming my plan is now up and running, it doesn’t quite seem to have sunk in that finally things will be going in a positive direction. I’m looking forward to hopefully not having to worry about how to pay my bills and trying to buy food or essentials, I’m also looking forward to sleeping again and not lying awake worried sick, but most of all I’m looking forward to spending time with my children without being distracted always having money worries on my mind.

Suseka97

Dreamer29 wrote: »

T...... I’m looking forward to hopefully not having to worry about how to pay my bills and trying to buy food or essentials, I’m also looking forward to sleeping again and not lying awake worried sick, but most of all I’m looking forward to spending time with my children without being distracted always having money worries on my mind.

That's one of the most important outcomes of facing up to debt issues and working to resolve them. Life is for living and with a family to support it's important that you don't spend all your time worrying about money or how to put food on the table, or pay the bills to keep a roof over your head. You are now on the road to debt freedom and I wish you well

HonestS

Hi, I'll try to make this as brief as possible, I'm preparing to respond to the replies to my holding letters.
In my holding letters I said my circumstances have changed due to a cancer diagnosis and ongoing treatment. I've heard from all but 2 of my 6 creditors, most holding for 30 days and some asking for medical info in up to date letter.

My last two medical letters were sent in October. One of them has an error that says I had surgery in October (was actually April) so makes it look more recent, it shows I've completed chemo and radiotherapy but have ongoing treatment and says I'm generally well but concerned about cancer not being picked up in future (so shows a degree of anxiety, I said I'm worried about health and debt please don't call).

Other letter shows all correct dates but has been written in a way that looks like I'm having chemotherapy indefinitely, also says I'm feeling very well within myself.

My aim was to say I'm working minimum hours due to side effects of treatment so need to pay token payments for a while. Any recommendations on which letter I should send? And should I give them the whole story about working minimum hours or keep it simple by just returning the info only?

And do I need to now tweak my SOA so it looks as though I have a tiny amount of money for creditors or just send the one I've done on NEDCAB that says there's £80 a month left over, is £80 too much while sending token payments?

Thanks in advance

Suseka97

HonestS wrote: »

............
My last two medical letters were sent in October. One of them has an error that says I had surgery in October (was actually April) so makes it look more recent, it shows I've completed chemo and radiotherapy but have ongoing treatment and says I'm generally well but concerned about cancer not being picked up in future (so shows a degree of anxiety, I said I'm worried about health and debt please don't call).
Other letter shows all correct dates but has been written in a way that looks like I'm having chemotherapy indefinitely, also says I'm feeling very well within myself.
My aim was to say I'm working minimum hours due to side effects of treatment so need to pay token payments for a while. Any recommendations on which letter I should send? And should I give them the whole story about working minimum hours or keep it simple by just returning the info only?
And do I need to now tweak my SOA so it looks as though I have a tiny amount of money for creditors or just send the one I've done on NEDCAB that says there's £80 a month left over, is £80 too much while sending token payments?
Thanks in advance

Hello there.
It doesn't really matter when you had the surgery, the fact is you are still recovering from it and need time to adjust and heal. I'd send whichever best reflects that. I would do what you suggest and advise that you will be working minimum hours for a period of x months and will keep them informed as and when your situation improves. You could send tokens, but its probably not worth it right now - it costs them more to process a token, than its face value. The main thing is to just keep them in the loop - which you will be doing by sending the medical information they've requested and by informing them of your intent. Personally I wouldn't both with an I&E until you are in a position to commence whatever payment plan you intend to, but if you want to I'd tweak so it shows what you want them to see.
Above all, take care of yourself