DMP mutual support thread part 13 !!

Suseka97

scotgirl1832 wrote: »

Hi all,
First post


Looking for some help please. I have been in a self managed DMP for just over 15 months and I have been making the payments as shown below. I have debts of £25K and I now have £7k and i'm hoping to clear my debts with F&F offers. I'm not sure if some of the creditors will accept though as they have been receiving regular payments. When I send my F&F offers should I also say that if these are not accepted then I will need to move to token payments.

You say you've been making regular payments for 15 months via the DMP - so in your creditors/DCAs mind there's no reason for them to accept F&Fs. They'd only consider it if you can prove your financial situation has worsened, or if you did submit a CCA and the account/s proved to be unenforceable. Everyone has a right to request a copy of their credit agreement and ToRs etc irrespective of the date the account was opened - what that does offer you is a bit of a payment break, because generally collection activity has to stop whilst they investigate and until they provide you with the paperwork you have requested.

What going self-managed does for you is offer some flexibility. You can tweak your I&E to reduce your monthly payments and add that to the £7k to build up a better F&F for the future. But of course there's nothing stopping you from offering F&Fs now to test the water.

Suseka97

Whatamidoinghere wrote: »

Hi just a quick question. I've had a letter from Halifax 're default notification when I've looked on noddle etc can't see halifax anywhere all other debts showing but not that one. Any ideas where it may be posted on the cra list.

Sorry, but I'm not quite following the question. Are you in arrears with Halifax? Is it an old debt (defaulted more than 6 years ago)?

Suseka97

Just popping on bright and early this Friday morning - which for me is the start of a long bank holiday weekend :j

I mentioned in my last update that I'd finally won the battle with LINK and yesterday received that all important notification that two of my accounts with them are now closed. Typically those letters had been preceded with the annual statements telling me I still owed x and y on each account, asking me to contact them to arrange a repayment plan - but that's LINK for you - right hand never knowing what the left hand is doing :rotfl:

So I'm left with just the one LINK account with less than £1k and the PRA ones remain UE for now. My F&F pot has, however, dwindled because I've been using savings for household repairs of late. That means I'll have to bide my time a little longer to get the level of discount/s I'll need - but I'm in no particular rush.

Hope all is well with everyone in DMP land

NowInspired

Suseka97 wrote: »

Just popping on bright and early this Friday morning - which for me is the start of a long bank holiday weekend :j

I mentioned in my last update that I'd finally won the battle with LINK and yesterday received that all important notification that two of my accounts with them are now closed. Typically those letters had been preceded with the annual statements telling me I still owed x and y on each account, asking me to contact them to arrange a repayment plan - but that's LINK for you - right hand never knowing what the left hand is doing :rotfl:

So I'm left with just the one LINK account with less than £1k and the PRA ones remain UE for now. My F&F pot has, however, dwindled because I've been using savings for household repairs of late. That means I'll have to bide my time a little longer to get the level of discount/s I'll need - but I'm in no particular rush.

Hope all is well with everyone in DMP land

That's great news Suseka that you've won the battle with them Well done

NewYorkJetsFan

Hey, I am a secret lurker on this board and have been for a number of years now, as of last Friday I am now debt free - thank you to everyone on here and the brilliant advice that you have shared. I started owing just over £17K, I did it with StepChange holding my hand all the way, I can’t speak highly enough of them, I wanted to make my last payments to my creditors myself and when I called SC to tell them I was debt free they congratulated me and I actually cried on the phone, I was so proud. There have been a few little hiccups along the way, I have sneaked in a few breaks, got married and watched my amazing son go off to uni but best of all I can sleep at night. Thank you to everybody who shares and virtually holds your hand along this road. NYJF x x

SkintDad87

Great news NYJF, congrats on paying all off. I'm at the other end of the scale, and just starting out!

Starting to get replies from my offers of payment, but 2 have replied saying they can sort an arrangement for me, if I make 2 payments between now and original start date (1st July). Both have also said, they won't default my account if I do this, instead mark it AP - which I know, drops off 6 years AFTER debt is paid. The companies are Uncle Buck and Barclaycard...shall I just refuse to pay this until July 1st? Barclaycard have unfortunately said they will only drop interest rates to 3%, and not freeze them!

smiff_50

Hi all

A bit of advice please. Those who have left Step change to go self managed, did you ring them or write to them? I'm determined to do this now and want to crack on so don't want to have ring and up and explain so to speak and then be told to email or write to close the plan.

Thanks

ditty1234

Hi I just want to say that I got an email today that Step Change will now start talks with my 5 creditors and my payments will be £125 a month, and I almost started crying. I am very happy as this will give me a bit of breathing space. I just wish I had done this years ago - I am almost happy that my Credit Score is now trashed, as it mean there is one big problem I dont have. I am so happy I didn't rush down the IVA route, and I have already learned so much from this forum, and this is only the beginning.
Thanks to all.

motivated

smiff_50 wrote: »

Hi all

A bit of advice please. Those who have left Step change to go self managed, did you ring them or write to them? I'm determined to do this now and want to crack on so don't want to have ring and up and explain so to speak and then be told to email or write to close the plan.

Thanks

Hi

When we went SM we used NEDCAB DMP and once you put all your details in it will generate letters for you. One for SC too. Very easy to do
Good luck
M

motivated

ditty1234 wrote: »

Hi I just want to say that I got an email today that Step Change will now start talks with my 5 creditors and my payments will be £125 a month, and I almost started crying. I am very happy as this will give me a bit of breathing space. I just wish I had done this years ago - I am almost happy that my Credit Score is now trashed, as it mean there is one big problem I dont have. I am so happy I didn't rush down the IVA route, and I have already learned so much from this forum, and this is only the beginning.
Thanks to all.

Well done for taking the step. I know the feeling well . Such a relief
Good luck
M