DMP mutual support thread part 13 !!

Suseka97

SkintDad87 wrote: »

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!

You definitely do not want AP markers. I've no experience of UB, but BC are renowned for not defaulting and maintaining interest charges (albeit at a reduced rate) if you pay anything over the standard minimum payment. Initially they stopped charging us, but as soon as their DMP payment increased to just a few pounds over the MP, they hit us with charges again. Part of the reason I went SM. Anyway, I'd stick with the plan to start in July and when you do - drop them to tokens with the hope they'll sell your debt on quickly.

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

You can close your DMP with SC using their online messaging service. That's what I did. They were fine and messaged back acknowledging my request and wished me luck. So really, however you do it - don't be worried about how they might react (if that's your concern).

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.

Good for you. Do be prepared for the letters from your creditors to drop on your doormat whilst the DMP gets up and running. They will be standard computer generated blurb that 'warn' of default action etc., letters that creditors are required to send debtors when we break our contractual agreements. You can now sit back and look forward to a debt free future

smiff_50

Motivated and Suseka97, thanks very much for the reply. It's really helpful.

Dandytf

I continue to struggle sometimes during SC dmp years.
Though finding motivation with latest statement showing my most expensive debt is now £3+1p anyway from triple figures i.e. hundreds owed not almost 3k original balance.
This is last debt to hit triple figures -think there's six left now in hundreds range.
I'll check every month and post annual amount owed, which has worked well for me.
I don't think anything fully takes away the total dmp cost until last few payments 2022 or possibly 2021.
Why do the last few years almost feel as long possibly longer than earlier years!
Let's hope mser's also continue with theirs and see a noticeable difference in balance each year.

CG2017

Thank you for your help

masteront

Looking for a bit of reassurance (or advice, if my understanding has been wrong). I am going down the SM DMP route and sent letters to all creditors asking for up to date details of my accounts so I can produce the SOA and budget - I'm following the NedCAB DMP pages. I stopped all payments to creditors and am now getting the letters and text messages about missed payments and to call them.


These are normal right? Other people have gone down the stop paying route and sending the letters off? I'm thinking they are just the standard computer generated things but need some reassurance on that.


Also, heard back from one creditor, Tesco Bank, stating they received my letter and would like my reference number for NedCAB and a third party authority letter so they can discuss with them. I did state the number in the original letter and that I am going SM, having taken advice from them. Do I just reiterate to them that I am self managed and when they respond to my original request, I will send SOA and budget to them?

Willing2Learn

masteront wrote: »

... I am going down the SM DMP route and sent letters to all creditors asking for up to date details of my accounts so I can produce the SOA and budget - I'm following the NedCAB DMP pages. I stopped all payments to creditors and am now getting the letters and text messages about missed payments and to call them.

These are normal right? Other people have gone down the stop paying route and sending the letters off? I'm thinking they are just the standard computer generated things but need some reassurance on that.

Yeah, the letters you are receiving are just auto-generated, and are nothing to be concerned about. It is perfectly normal to receive these letters.

I just wanted to check something with you. Are you going to be delaying the start date of your SM DMP to allow you time to build up a reasonable Emergency Fund (EF)? We recommend to people that they delay the start of their DMP for six months (or an absolute minimum of three months), so that an EF can be saved. This is because an EF is a vital component of every successful monthly budget. It stops you having to consider using credit to cover emergency costs whenever they crop up. Things like car repairs and household maintenance costs are the sort of things an EF can cover you against.

Marble030509

Afternoon guys.

Hope you are all well.

Just a quick one. Most of my creditors have either accepted that we wont be starting our DMP until September of have rejected the idea and continued adding interest which is par for the course I know.

However Newday Limited are phoning me 15-20 times a day landline and mobile. What's the best action to take? Block the numbers (they seem to ring off several)? Answer and tell them to stop ringing? Obviously in the letter we sent we told them to make contact by writing only.

Thanks for the advice in advance.

Willing2Learn

Hi Marble030509,

I would initially block all the NewDay 'phone numbers. Hopefully that will stop the harassment. If they continue to call using different numbers then I suggest you make a written complaint. State that you ONLY authorise correspondence in writing via Royal Mail. Make it clear that you do not consent to them contacting you by 'phone, email, home visits or any other form of contact (other than by Royal Mai)l. Advise them that you will escalate the complaint to the FOS if the harassment continues.

Have a read of the National Debtline article - Harassment by creditors and debt collectors. The article includes a letter template.

Marble030509

Willing2Learn wrote: »

Hi Marble030509,

I would initially block all the NewDay 'phone numbers. Hopefully that will stop the harassment. If they continue to call using different numbers then I suggest you make a written complaint. State that you ONLY authorise correspondence in writing via Royal Mail. Make it clear that you do not consent to them contacting you by 'phone, email, home visits or any other form of contact (other than by Royal Mai)l. Advise them that you will escalate the complaint to the FOS if the harassment continues.

Have a read of the National Debtline article - Harassment by creditors and debt collectors. The article includes a letter template.

Thank you so much, that is a great help

Suseka97

Marble030509 wrote: »

......
However Newday Limited are phoning me 15-20 times a day landline and mobile. What's the best action to take? Block the numbers (they seem to ring off several)? Answer and tell them to stop ringing? Obviously in the letter we sent we told them to make contact by writing only.
Thanks for the advice in advance.

If you feel up to it, then I suggest you answer a call and tell them that they are to stop harassing you and that they are to remove your contact number/s (home and mobile) from their records. Advise that you will respond to letters, but also that you are recording the volume and frequency of phone calls and will escalate this as a complaint to the information commissioners office if they fail to comply. Be forceful and don't get drawn into a conversation about your debt situation - make it clear you have only answered their call to make it clear they do not have permission to contact you in any other form other than in writing and then put the phone down and block the number. If you get any more calls after that - follow through with a complaint to the ICO.