DMP mutual support thread part 13 !!

vicki84

I realised I have made some mistakes on my budget form with Stepchange that I filled in yesterday because I was upset and missed payments out etc. I cannot login online yet will it be easy to correct things? Thanks

Suseka97

vicki84 wrote: »

I realised I have made some mistakes on my budget form with Stepchange that I filled in yesterday because I was upset and missed payments out etc. I cannot login online yet will it be easy to correct things? Thanks

In a word - yes, so don't worry. Either update when you can get online, or give them a call. You are a ways from starting, so plenty of time to tweak things. Please don't rush in to start too quickly though, give yourself time to save up an emergency fund.

hev3049

Hi all, I am looking at DMP and just need some information before I start. My OH doesn’t know anything about my debt and we have separate bank accounts but a joint mortgage.
Do I put ½ the essential bills I pay on the application to SC or NECDAB (depending what I decide to do) or add his payments as an extra income?
Can anyone recommend a new bank account to open?
Do you move all direct debits when opening new account or only non-debt direct debits – if the latter do you inform the bank which direct debits to move?
You all give great advice, Henny

sourcrates

hev3049 wrote: »

Hi all, I am looking at DMP and just need some information before I start. My OH doesn’t know anything about my debt and we have separate bank accounts but a joint mortgage.
Do I put ½ the essential bills I pay on the application to SC or NECDAB (depending what I decide to do) or add his payments as an extra income?
Can anyone recommend a new bank account to open?
Do you move all direct debits when opening new account or only non-debt direct debits – if the latter do you inform the bank which direct debits to move?
You all give great advice, Henny

Hi,


Re : Bank accounts, you only need a new bank account if you have debt with your current bank, any DD for a debt you have should be cancelled.
Using the switching service is not recomended, as most people opt for a basic bank account with no OD facility.


Nationwide and Coop are among the best of the bunch.


If you have a joint mortgage then defaults and late payments associated with the DMP may effect his ability to get credit, so i would say a conversation may be nessessary.

hev3049

Thanks for that, I am not in arrears with anything yet but I do have an overdraft with my bank hence changing banks.
I may sound stupid but I'm going to ask anyway! So I contact insurance etc that i need DD to come out of new account before i cancel DD?

UPDATE: I've just set up a basic bank account with Nationwide -it's just so scary!

Moveslikeagger

Nothing to be scared about! change all DD to your new accounts and just stop paying your debts. After a few months they will default you and ask a collection agency on their behalf. I have found these very easy to deal with and have had no problem with them accepting my offer even though it will take me 15 years to pay off! Doing a DMP is the best thing I ever did.

hev3049

Thanks for your support - Can't tell my OH as he will have a fit so i will manage it on my own!
DONE - bank account opened
DONE - filled info in with SC and waiting for pack of info

Well I'm part way there.

Dandytf

As I'm entering 2019-and hopefully ending early 2022 or late 2021 with SC dmp.
I'm delighted multiple debts are in triple figures though some are high 900's

My next challenge I've walked into is an unforeseen change in benefits dates.
Can't believe I've been a day or two late with some DD's after doing reasonably well.

considerable sum which has been excellent seems to have shifted forward during late May and throughout June -this date when benefits are paid in cannot be changed.
In effect I'm minus high 300's from bank account and home budget.
Thinking tonight is I can switch maybe one or two DD's later in month would that possibly be the only solution as
I don;t want to touch help2save account which I hope to run until 2020 at the earliest and the few hundred would be used up very quickly indeed.

Edited -since changed sky DD date +can change Bulb DD date from 22nd June to avoid duplicate June DD's being taken.
Hopefully this is the way forward -what a silly mistake which is costing bank charges.

ScottishGuy1122

Hi new question here regarding DMP, I have a plan with SC for about 3 months and it is all fine, however through alcohol issues and huge amounts of stress I have borrowed more through payday loans (about £1800 across about 11 different loans) and I can't pay them anymore, iv hit the end of the road. I'm worried when I tell StepChange they will cancel my DMP. I currently pay £408 into my DMP and have actually found savings where I could add another £100 and maintain payments to existing creditors. Are SC likely to cancel my DMP as it is technically a breach? If so what are my options. I'm already seeking help for the alcohol and stress but I'm really desperate and have no idea what to do.

Willing2Learn

Adamthom85 wrote: »

Hi new question here regarding DMP, I have a plan with SC for about 3 months and it is all fine, however through alcohol issues and huge amounts of stress I have borrowed more through payday loans (about £1800 across about 11 different loans) and I can't pay them anymore, iv hit the end of the road. I'm worried when I tell StepChange they will cancel my DMP. I currently pay £408 into my DMP and have actually found savings where I could add another £100 and maintain payments to existing creditors. Are SC likely to cancel my DMP as it is technically a breach? If so what are my options. I'm already seeking help for the alcohol and stress but I'm really desperate and have no idea what to do.

Hi Adam and welcome to the forum

Ring up SC tomorrow. Let them know what has happened. Tell them you need all your debts and payment schedule to be reassessed.

You need to stop yourself from getting any new credit, as a DMP plan will only be successful if you can hold yourself back from any new applications.

People often drink to excess as a coping strategy, to alleviate the stress of their day-to-day lives. It has been proven that CBT (Cognitive Behavioural Therapy) can be successful in treating the causes of patients unhappiness and their unhelpful thought patterns. If you are not yet in treatment, then I recommend asking your GP for a referral for CBT.