DMP mutual support thread part 13 !!

sourcrates

Skittlesjo wrote: »

Hi all I’ve been contemplating and trying to search this all weekend are there any creditors which are renowned for rejecting DMP offers? Or has anyone had any problems with any specific creditors?

Just to add, it dosent matter if a creditor does reject the DMP, you still make the payment to them via stepchange, all it means is they will most likley off load your account to a debt collector such as wescot, to manage on their behalf, or they will sell the debt on to a 3rd party.

Makes no difference to you, you just pay whoever is collecting the debt, so no, DMP`s cannot be rejected, there is always a way forward.

Wardworried52

Willing2Learn wrote: »

I believe that because you have a joint account, there will be a financial association between the two of you. I am not an expert, but I believe this financial association could negatively impact your husband's credit file. If it were me, just to be safe, I would remove your name from the joint account so that it becomes a sole account in your husbands name only. You could then file a Notice of Disassociation with the three CRAs.

This is sensible. I suggest you neither switch nor request an overdraft on this account.

Yes (See the answer for your first question)
I am afraid I don't know.
No, I believe everything should be fine as long as you action the Barclays bank 'stuff' with urgency.

Thank you so much for your reply willingtolearn, it's all so new to me at the moment and quite scary, I don't know which way to turn. I ring step change nearly every day but this forum is a god send at helping me get things sorted. Hopefully it all becomes more settled down soon.

ElleCee

Hello all

Just staring out on my smdmp and wondering how 'creative' can I be with my I&E?

I'm currently living with my parents as can't afford rent, bills, and living plus debt repayment.
I pay very small rent and no bills but I would prefer to enhance the truth a bit so I could also put some money aside for F&FS. My parents have a dog; could I say the dog is mine and submit those costs too? Could I pretend I'm a smoker to add those costs? Essentially, do banks and/or DCAs have the right to check the info I give? Do I have to prove my I&E?

I am fully committed to clearing my debts but my current total of £1160 per month is unmanageable and no one will freeze interest or lower payments while I'm still able to meet them each month even though it's killing me.

Thanks v much in advance

sourcrates

ElleCee wrote: »

Hello all

Just staring out on my smdmp and wondering how 'creative' can I be with my I&E?

I'm currently living with my parents as can't afford rent, bills, and living plus debt repayment.
I pay very small rent and no bills but I would prefer to enhance the truth a bit so I could also put some money aside for F&FS. My parents have a dog; could I say the dog is mine and submit those costs too? Could I pretend I'm a smoker to add those costs? Essentially, do banks and/or DCAs have the right to check the info I give? Do I have to prove my I&E?

I am fully committed to clearing my debts but my current total of £1160 per month is unmanageable and no one will freeze interest or lower payments while I'm still able to meet them each month even though it's killing me.

Thanks v much in advance

Hi,

Your budget, is your budget, creditors, debt collectors have no rights over you whatsoever, I don’t know where people get that idea from, just because you owe money does not give creditors inflated powers of cohesion, or anyone else for that matter.

Do your budget how you see fit, you are under no obligation to prove anything.

ElleCee

Thanks for the reply and advice sourcrates

I had my lightbulb moment back in April and have been struggling ever since trying to make all monthly payments and budget around that. It's taken me this long (and finding this thread) to figure out it can be the other way around!
As I said, I'm serious about clearing my debts, just not at this current crazy rate! I can comfortably manage up to £400/£500 per month in total and that is all they'll get

All direct debits have all been cancelled and I'm prepared for the onslaught of calls/letters...
My holding letters are ready to post today although I'm tempted leave it a few weeks/months as I've not actually missed any payments previously so I wan't to 'show' I'm having financial difficulties if you know what I mean?

Finding this thread has been a lifesaver! So much knowledge, information, and support I've gone from being scared and ashamed to battle ready and almost excited to start the process

I'm sure I'll be back with more questions but already learnt so much from you guys

Thanks again
Elle

Suseka97

ElleCee wrote: »

....All direct debits have all been cancelled and I'm prepared for the onslaught of calls/letters...
My holding letters are ready to post today although I'm tempted leave it a few weeks/months as I've not actually missed any payments previously so I wan't to 'show' I'm having financial difficulties if you know what I mean? Elle

You'll still get a flurry of 'non payment...what happens next' type letters - regardless of whether you send holding letters or not, but it's sensible to write and let them know what's happening. The fact that up until now you hadn't missed any payments is irrelevant. As for your comment re your I&E (adding to sourcrates advice) you should use the NEDCAB template and up your expenses to the maximums, including what would be a reasonable rent contribution (irrespective of whether you actually pay that or not). Just play with the figures until you get to a position you find affordable.

thewad

Been on mine now for 9 years and one year left.
Put whatever figures down you are comfortable with and yes, do play around with them to give yourself breathing space......they do not do any checks on you whatsoever......they don't even check if you have money stashed away in a BS as savings.....as I found out too late.

Minnie82

Well I'm a wee bit stressed. 3 payments to go until our DAS is finished but I'm worrying about defaults or lack of.

Hubbys Newday (was Santander) has posted AR markers for 5 years and already refused once to backdate, I've now written and sent an email for him to CEO stating guidelines and how their recording has left us in a worse position etc. Fingers crossed for a decent response.

Then, RBS say they're backdated all defaults (yay) but I find one still the same (due to fall off Oct 2021 when should be Jan), turns out that account was never in DAS and has been sitting £23 in debt for 5.5 years, I've had no correspondence from them about it and honestly have been ignoring studying my files until now. They've had me raise a complaint (although I said I'll happily pay it now if they can backdate the default as they have for the 4 other accounts we had with them including O/Ds). I should get initial contact within 5 working days but could take 54 days to sort one way or another. Stressed

ElleCee

Thanks Suseka97 and thewad

It's so lovely getting advice from people who have already been there and really know their stuff!

One more question if that's ok?

In April (when I finally faced up to my mess) I switched my current acc and also took out a 0% balance transfer CC within the same banking group.
I do have a new account (opened last week) but I don't really want to go to my boss to ask to change my pay details again as I genuinely can't think of a decent reason why I'd change acc again so soon. I know it's none of his business but we're a small family company and its just a conversation I'd rather not have.
If I do stay with this acc I have to keep paying CC fully as they have the right to offset I think?

So.... is there anything stopping me just not declaring it on my SOA / I&E and keeping the 0% minimum payments going for now?

Sorry for the silly questions but I want to keep this private and not have my family know my shame...

thewad

Whatever you tell them that is what they will deal with they don't do any checks on you other to ascertain anything you have told them is true.
You could have £100,000 in savings and if you don't tell them they won't ask and nothing will come of it...wish I had known that at the start.
Don't tell them what you don't want them to know but bear in mind if it goes tits up there may be repercussions.
I also paid the DMP by cash at the PO to keep my bank out of it....I've also managed to keep it between me and the wife and nobody else.